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November 13, 2016

110 Stressing about Trump is FOOLISH and Losing you Money!

Newsflash: stressing about Trump is FOOLISH!

If you’re an Entrepreneur, you have 3 main resources.

In reverse order of importance:

Investment Capital

3rd most important.

Obviously, Money is crucial for any product based business, especially if you’re going to do Private Labelling. That said, it’s possible to start Retail Arbitrage or Online Arb with a tiny budget and wholesale with a few hundred pounds.
Having a budget of several 1000 can still easily lead to business failure without the most important resource.

Sadly, I’ve been there.


2nd most important

It is so important to spend enough time working in the right direction. Not working for money hour by hour; learning your craft, staying up to date, connecting with the right people; working to find the right niches, the right markets, the right products; making informed decisions.

Investing time can make up for lack of capital if you invest it wisely.

But it’s still possible to spend hours, days, months and years (even decades) with a lack of the last element and get nowhere.

I was there too – for way way longer than I want to admit.


Most important resource

Bill Gates and Warren Buffet were once asked at an interview which quality they most admired in a person. Their answers were unanimous: focus.

Not coincidentally, these were at one point the richest two people in the world.

If you have focus and put in even a small amount of time each day, week, month and year, over time, you can build some real momentum. If you add serious time, you can build serious momentum. Add some real money, and you that’s when massive growth can happen.

The thing is, one reason why focus is the most precious resource is because it is in the smallest supply. It’s a biological fact that decisions and self control both diminish blood sugar and there is a limit to how many decisions you can make a day and how much focus you have to spend.

If you allow your precious focus to be dissipated and taken over by events out of your control, you won’t have enough left to drive forward actions that are in your control. 

If you have to follow politics, only follow that which is directly going to affect your business. In my case, that includes:

  • Trump’s alleged policy on Taxing Chinese Imports at 45% (this will take serious time to happen if at all)
  • the USD/GBP relationship – this reacts immediately to geopolitical events. For any Amazon seller based in the UK, this is crucial as most of us buy in USD from China. For me, there is a Go/No go decision riding on it.

HOWEVER – Bitching, anger, resentment, trying to convince others of your politics – that’s all an indulgence and a waste of precious mental focus. Just leave that to other people. Be the focussed person and win out over the people who are wasting their energy. 

Watch Stressing about Trump is just Dumb if you’re an Entrepreneur

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Michael Veazey

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