Short Term vs Long Term Gains
Is your business methodology influenced by short term gains? Whether you’ve identified it or not you have a preference and over time that dictates your public persona. Everyone’s heard the saying:
“You can shear a sheep many times, but you can only skin him once.”
Well, lets get down to it. Do you shear or skin?
I don’t believe in the latter and I’ll tell you why. The stock market proves the 99% wrong when the overly hyped IPO goes flat (North of 50%). The American housing market demonstrates 12-15yr cycles that says when confidence turns to arrogance you’re in a bubble. Domain industry veterans have not only taught us to acquire, but also to develop and monetize premium domains because the gains are located in increasing the value of your domain assets over time.
Perhaps you’ll say, “Nima, you’re a fool. Money today is better than money tomorrow.” I can tell you from experience a quick buck almost always turns into a quick headache. Be unique (read: strange). Go against the grain. Invest heavily in your future. Pride yourself on more than just money. You’re better than that.
The 99% take shortcuts. The 99% do not think big enough. The 99% skin. It’s not about the paycheck! The majority want you to buy in on their propaganda because in numbers it’s harder to single them out.
Positive values, high morals and professional ethics earn admiration. Honesty and transparency are rewarded. Take your time and have faith in yourself. You’re better off with slow long term gains than a quick rise to the top followed by a nose dive to the bottom.
Learn from the 1%. Try to emulate their methodologies. Better yet, become the 1% and pay it forward.
Some people will think you’re missing out. Some people will envy you for outperforming them. Regardless of which path they’ve chosen you’ll be their go-to person on speed dial.
I’m thankful you read this and hope one day I make it on your go-to list. Until then follow me on Twitter @DomainAdvisor and post your thoughts below.
So are you more of a Dave Ramsey guy vs a Tim Ferriss guy?
That’s a good question. I respect Dave Ramsey on topics such as finance and Tim Ferriss on productivity. I don’t think it has to be one or the other, but rather the best of both worlds. I utilize Ramsey’s long term financial planning wisdom and I leverage Ferriss life style adjustments that boost efficiency.
I will say some of Ferriss theories seem a little far fetched. I know three people that are huge fans of one or the other: Brad Cook, Brett Meyers & Greg Mason. I’d love to get their take in this thread.
Do you think it’s one or the other?
Comparing these two icons is clearly comparing apples and oranges. In fact, I bet Ferriss utilizes Ramsey’s tips. I can’t speak a lot about Dave’s systems, because I have not spent a lot of time reading or watching anything about him. Tim on the other hand, I follow very closely. In fact you can see a recent post I made about Tim and how he spends his day.
http://www.itrainrockstars.com/how-does-tim-ferriss-spend-his-day/
New York times also just wrote a post with Tim, and shared some ways that he jets through security and travels fast and light.
http://travel.nytimes.com/2012/07/15/travel/how-the-tough-get-going-silicon-valley-travel-tips.html?pagewanted=all
This recent article was a testament on some of the companies Tim is an adviser for, along with giving some interesting travel tips.
Back to the point though. Tim seems to act and operate with a huge amount of integrity in his life, and that goes a long way building relationships with your audience. He is very successful because his readers and fans, trust his recommendations. You can put his techniques to the test and prove them to be worthy on your own.
I am good with money, but I am not an investor. I will have to check out Dave’s stuff and then put it to the test. I’ll let you know how that goes.
Integrity definitely goes a long way. Which of his techniques have you implemented and seen the greatest result from?
I read the 4hr work week, but wasn’t terribly impressed. The beginning was basically Tim talking about how awesome he was and then everything else seemed like things we were already implementing; outsourcing work overseas, hiring an assistant, etc.
I want to give Tim another try.
All of the advice I’ve read from Dave is time tested and tried. He never gives advice he hasn’t implemented and proven in his own business first. I think Tim and Dave share that in common.