Chasing "millions" of dollars is for chumps

Written by Paul on July 9th, 2008

Putting all of your eggs in a single basket is never a good idea – the problem is that too many of us do it anyways. Worse, many people seem to think that all it takes is “one good idea” to make millions. These people are crazy – you should ignore them.

On a side note, it always makes me laugh when Indian people use Bill Gates and Donald Trump as the standard by which success is measured. (Anyone that grew up in an Indian household knows what I’m talking about.)

A post over at Self Made Chick nails the idea (I’ve added the emphasis):

But I think that chasing “millions” of dollars may be one of the reasons why many people never even make $1 online. Instead of focusing on the few ways to make millions of dollars online, perhaps it is more profitable to pursue one of the millions of ways to make hundreds or thousands of dollars online.

I think that with gurus tossing around huge million dollar sales figures, many of us have developed a mindset that if something isn’t going to make millions of dollars that it’s not worth pursuing. $3,000 may not be a million dollars, but it’s nothing to scoff at. A few thousand dollars can greatly enhance the quality of your life. $3,000 can buy:

  • A 10% down payment on a 2008 128I RWD 2-Dr Coupe L6
  • A 7 day Mediterranean cruise for 2 with a balcony view
  • A semester of in-state college tuition in many states
  • A 42″ flat screen TV and complete surround sound system
  • Freedom from $3,000 worth of credit card debt

A friend of mine has been talking about opening up his own bar for years. The funny thing is that if you ask him why he hasn’t done it yet, he’ll say, “Well, there’s just not enough money in it. I want to make millions!” Oh really? Let me get this straight: once you’ve got it running, brought on a bartenders to cover the bar, hired a manager, you won’t be able to work on other things while bringing in a small profit?

Maybe a bar is a bad example, but the point is that you should just get started. It’s really that simple.

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6 Responses to “Chasing "millions" of dollars is for chumps”

  • But.. why would you want to waste money on a 128i ? :) .. and what kind of crappy stereo system will you get with a crappy 42 inch tv for $3000?

    Obviously, this post is flawed, cuz you can’t buy good stuff for $3000.

    For the people who don’t get my joke… i’m sorry. For those who do.. let’s Troll!

    — 07/09/08 at 1:59 pm

  • Rob

    Good advice. People should chase after small goals and be grateful when they achieve them, while still maintaining an eye on their larger dreams. The trouble comes when people focus on what they don’t have.

    — 07/09/08 at 2:49 pm

  • I agree, starting on small goal and reaching them gives you momentum. If you can make a few thousand, you can do it over and over again. Most people are overwhelmed at making a lot of money and never get started. Its all back to being overwhelmed.

    Dr. Wright
    Wright Place TV

    — 07/16/08 at 6:57 am

  • Diana D. Jarvis

    People do have an unfortunate all-or-nothing mentality. Part of it comes from early brainwashing that we have to go to school to prepare for a single career that we should then devote ourselves to, and many people do get their sense of identity from that career. The notion that we might have a better life by working 2 different types of part time jobs instead (or by a part time business venture of our own in addition to a job working for someone else) is relatively new to our society. It’s not just resistance to getting started. It’s about forming a sense of who you really are and not just tagging yourself with a job description.

    — 07/23/08 at 6:48 am

  • I completely agree with the above comments and with the post. Short-term goals are key. My goal is currently to make enough money on side projects that I can move out of the office and into a part-time job, with the purpose of spending more time working for myself. That way I can then make enough money to support myself.

    It’s easier because I’m young, unmarried, and nearly debt-free, but Paul is right when he says, “the point is that you should just get started.”

    And Diana, you are speaking right to me. I was always going to be a teacher. Questioning that decision was difficult because I had only imagined myself following that one path.

    — 07/23/08 at 11:43 am

  • I am an indian and I do know what you are talking about

    — 07/26/08 at 9:02 am

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