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Build a Business Before You Speculate
Save the speculation for the future, when you have a system to rely upon.
“Why Not Me? by Jarrylew” is an e-commerce and investment newsletter that focuses around the idea of using efficient income to become self-employed and financially free.
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It has never been easier to fall into the trap of parking your money somewhere and hoping it increases over a short period of time.
Just about everyone on the planet is convinced their cryptocurrency, NFT, or stock is the next thing that will explode and make them rich.
I get it. 2020 and 2021 made some people filthy rich if they happened to buy into the right things.
In euphoric bull markets, people look like geniuses when they’re actually just your average Joe or Jane.
Eventually, there is a reversion to the mean though.
Things cool off, those without true passion and dedication fall by the wayside.
In some cases, people buy at the top and get burned if they aren’t willing to wait it out.
This is how speculative markets have worked for centuries.
When you buy something and then have to hope that it’s value increases, you have no control.
You are a passenger on a train and the conductor doesn’t care about you, nor can they hear you when you yell at them.
There is a chance the train arrives at some sort of utopia, but there is also a chance it derails at speeds you aren’t going to survive.
Your only option along the way is to stay on the train or get off.
Contrast the train analogy with a business, an e-commerce business.
An e-commerce business is like a car and you’re driving that car.
You get to make every decision along your journey and the only thing outside of your control, are the other vehicles.
You decide how fast to drive, the path you’ll take to your destination, and what type of car to drive.
Most people think this “safe” vehicle means you’ll make way less of a return on your investment.
That’s not true 99% of the time.
My best investments have been in my e-commerce businesses. No other investment has even come close.
My book flipping business was started with $200 and has made well over $100,000 in profit as a side hustle over the years.
The ROI on that is insanity.
I lumped stocks into the speculation basket at the beginning, but they really are a mix between the vehicle and the train.
When you buy a stock, you are buying into someone else’s vehicle.
It is a safer option than buying a train ticket.
Often times, you are giving money to a group of people who are very good at driving vehicles.
However, you still relinquish control the moment you invest with them.
Does that mean you shouldn’t invest in stocks? No.
However, you should have your own vehicle on the road first.
Your own vehicle has the greatest chance of providing you with:
an efficient income stream
a greater ROI than any speculative asset, on average
a piece of equity you can sell in the future
People don’t like this advice for one main reason: it requires a lot of work.
You see, no world exists in which we all just buy a certain crypto and then we all end up rich.
Wealth can’t exist without the production of goods and services. People often forget that part.
Am I saying to not invest in cryptocurrency? No. I own some myself.
What I am saying is, save the speculation for when you have a vehicle built and on the road to rely upon.
Not only will it make you more money than your speculative plays, but it will teach you valuable lessons you can leverage elsewhere.
Speculate when you have cash laying around with nowhere to put it, while also being too busy to build another business.
In other words, speculate when you have no other option between that and letting cash get eaten by inflation.
It’s not just safer, it’s the best approach on average and carries the least amount of risk.
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As always, these posts are not financial or investment advice. They are made for entertainment purposes only.