Another Hello from Arizona

[EPerceptions]

Hello everyone, I'm Kathy.

I've been reading MJ's book and browsing the forums for several days, so today I decided to sign up. I'm a bit older than many here (early 40's) and with the exception of an 18 month stint at a dotcom, I've been self-employed since 1997. I've made pretty much every mistake there is. :smx4:So I'm here to refocus, interact with successful people, and put some of my experiences to much better use.

 

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[Nomad]

Welcome Kathy!

I have a question

What was the worst mistake you made, and how did you overcome it?

 

[EPerceptions]

Thanks for the welcome

Biggest mistake? Providing services that aren't scalable. I consistently found myself with nothing much better than work at home jobs. I had a measure of freedom and enough money to keep everything rolling but when a project/client was done I had to drum up another.

 

[odai]

Thanks for the welcome

Biggest mistake? Providing services that aren't scalable. I consistently found myself with nothing much better than work at home jobs. I had a measure of freedom and enough money to keep everything rolling but when a project/client was done I had to drum up another.

This. I've become convinced that the big secret to wealth is scale. To quote Joshua Kennon:

Those who grow very wealthy very quickly sell items that are scalable. That is, beyond the first product, there is little or no additional labor, time, or capital required to produce incremental units. Authors, musicians, software companies, video game firms, mutual funds, perfume houses, and pharmaceutical businesses belong to this group. In other words, it takes Johnson & Johnson $1 billion to produce the first pill. Beyond that, it’s all profit.

Source

 

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