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Old 12-29-2010, 10:27 PM  
will76
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Join Date: May 2003
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GFY Advice thread... what have you learned the hard way?

12 years ago I was bartending and finishing college, and about to start my own business that would result in making lots of money and therefore allowing me to make lots of business decisions and investments. It was my first rodeo and the first time I was making decisions with no history or experiences to help guide me through them. I made some mistakes. The first thing I learned was to not make the same mistake twice. The second thing I learned was that it was better to learn from other people's mistakes than your own.

What mistakes have you made (business related, bad investments, etc...) that you learned from that you can share with others.

I'll start it off with one of my own:

One of the most important lessons I learned (that everyone who is successful for the first time early in life should pay attention to).... every thing you touch doesn't turn to gold. Just because you excelled at one thing and made lots of money doesn't mean everything you do will be a home run. I jumped into several investments/business deals where I had little to no experience but I thought it would come easy and I could kick ass doing that as well. Most times it failed. Stick to what you do best, but if you do venture out and do something new then understand you are a noob. Seek out others who are successful at what ever the new thing is you want to do and learn from them, pay them for help and guidance if you need to.

Try to put it into prospective. How many times you see new people pop up here who think they going to make millions but they have no experience and they have no idea what they are doing. One classic example was a guy ( he posted here for a while) wanted to hire me to help him kick off his new cam site. But after a short conversation I could see how this deal was going to work out, he had been ignoring everything I was saying and telling me why I was wrong and this was going to work for him. He had made millions in some offline business that had ZERO to do with the internet much less porn. He had researched cam sites for 6 months (as if this made him an expert) and was going to prove me wrong. His site lasted about 4 months and I doubt he ever made more than a couple thousand in transactions and he spent well over 100K in just programming. Don't be that guy if you venture into something completely different than what you had been successful in. Check your ego at the door, learn as much as you can and listen to what successful people tell you. Don't jump in with your eyes closed and no parachute.


Feel free to post helpful advice about situations you went through and things you learned the hard way.
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Last edited by will76; 12-29-2010 at 10:30 PM..
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