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How do I know whether it's time for a change of my perspective?

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VincentVega24

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Nov 26, 2019
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Frankfurt, Germany
Hey,

hopefully this is the right board for this kind of topic.

So, I'm currently licensing my music online, not making too much of a profit from it, my regular monthly income from that hustle is in the range of 1.5k$. It's enough to pay the rent and live, I don't want to sound ungrateful my goals are just way above that type of income.
I know this thing is scalable, there are people making six figures yearly from what I'm doing but lately I had the feeling that I might not be able to increase my product quality any further which is crucial when it comes to licensing music (or anything else) (Who'd lease a bad instrumental) and sometimes can't be made up by hard work alone, since making music is a creative process.

Since I been grinding my a$$ off with this for the past 4 years, I think it might be the time to change the perspective and find a new market (not music), maybe try to sell something else like E-Commerce or my marketing or web design skills, overall just something I can pour all my energy into without having to worry about musical talent etc., something I can improve my skillset in by (almost) hard work alone and make music on the side to have it being fun again like it was when I just started out.

I'd love to hear some different opinions on this since my thoughts been wrapped around this topic for the past few months now.

Thanks in advance,
Vincent
 

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Fid

Bronze Contributor
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May 26, 2017
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There's a short book by Seth Godin called "The dip". It's about when to quit and when to stick (whether it be a business, a job, a hobby or whatever).

The basic concept is to identify the curve of progress you're on. It's either:
a) the dip: a raising curve that has a dip in the middle between initial accomplishments that fire you up and the real success you're after
b) the cul de sac: a dead end, where after some initial success you reach a plateau (but keep on going because of the sunk cost fallacy)

- if there's no clear way you could succeed by doing what you do now, then it's a dead-end - quit immediately
- if it's hard now but there's a good chance of success, then it's the dip - either quit now (cut the losses) or decide you're not going to quit until you succeed
- in general, expect to find yourself in the dip sooner or later with any project, and if you think you won't make it through the dip, don't start at all

Here's a good video summary:
View: https://www.youtube.com/watch?v=Cfj3q8vqjU4
 

VincentVega24

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Nov 26, 2019
28
20
17
21
Frankfurt, Germany
There's a short book by Seth Godin called "The dip". It's about when to quit and when to stick (whether it be a business, a job, a hobby or whatever).

The basic concept is to identify the curve of progress you're on. It's either:
a) the dip: a raising curve that has a dip in the middle between initial accomplishments that fire you up and the real success you're after
b) the cul de sac: a dead end, where after some initial success you reach a plateau (but keep on going because of the sunk cost fallacy)

- if there's no clear way you could succeed by doing what you do now, then it's a dead-end - quit immediately
- if it's hard now but there's a good chance of success, then it's the dip - either quit now (cut the losses) or decide you're not going to quit until you succeed
- in general, expect to find yourself in the dip sooner or later with any project, and if you think you won't make it through the dip, don't start at all

Here's a good video summary:
View: https://www.youtube.com/watch?v=Cfj3q8vqjU4
Hey man,

thank you for your opinion, this is actually exactly what I been looking for! I bet this is gonna help me a lot, thanks a lot for your help!
 

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