I thought the headline for this post would grab someone’s attention. You may have heard it more commonly called Analysis Paralysis.
What I am referring to is that you have a deep burning to analyze every single angle. Everything that could possible go wrong with a deal, or business venture you are thinking of getting involved in, you have flow charts that cover your entire floor.
Now you obviously need to conduct your “Due Diligence”, there comes a point were do you need to put your big boy pants on and just go for it.
Another thing that happens is that you buy and invest in more crap then you will ever need. In the Internet Marketing biz, this is notorious. You buy every single tool, subscriptions to places like SEOMOZ, etc, when the goal is to MAKE MONEY.
You really need to figure out what you need to invest in for you business to produce a profit. Now some business are more cash intensive then others, for example, starting a restaurant. So you need to know what kind of income you want to produce, so you can know how much, supplies, equipment, etc, you need to purchase in order to achieve that.
Now sometimes, your mind is screaming to buy something that may or may not help in producing income. DON”T DO IT. I am telling if you do, you will be like a junkie looking for their next fix. You got to know when to say ENOUGH!
I don’t even remember how may tools bought. Especially the ones with all the bells and whistles. I was so sure that iIneeded them in order to make myself successful. I would read every faq and slobber over all the video tutorials. I would be midnight and I would lock myself in my home office like some mad scientist, working on his unholy creation. My wife would knock on the door to try and convince me to come to bed. I would just snarl with a low growl like a wild animal about to have his kill take from him.
Now I want to know what exactly I need a tool, for and what do I need to do to produce a profit from it and how quickly that will occur. I don’t like to lose money so this type of analysis is actually a good antidote for idiotic spending.
Read my blog post “Dying for Money” if you have an issue about trying to screw customers over for every little cent.
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