Saturday, 30 October 2010

My reason for taking a Quest

I live very close to the Infinite Loop Wormhole, the place pulls me in quite regularly making time fly by, and then spits me out in the same place where I'd started.

The way I'm starting to see it, it all comes down to two things:

  • I'm trying to come up with the best solution in my mind and thus constantly playing with assumptions
  • not tracking my time; just like money leaves me when I don't budget it in advance, the time slips through my fingers when I don't know how long does it take to complete a task.
Awareness is half of the solution they say, and here is mine:
  • budget time in advance, and keep a record of the spend to see how much time is needed for future projects
  • agree that the first idea will not be perfect
  • live test the idea with the Ego Shield firmly on and gather data
  • alter the variables and re-test to seek improvement
  • analyse the new data
This morning I was working on selling an MLM product on ebay and have it drop shipped straight from the company warehouse to the customer (which is a service they conveniently provide). There are plenty of ebayers selling the same products and at discounted prices. My goal is to sell a selection of premium sets at full price. 

IF my assumption is correct and there is demand for such sets then it will set me on my path of creating recurring income with minimum upkeep and hassle. 

The real challenge here is with my own assumptions. I could sit here all day ASSUMING this and that (this headline is better than that one, this guarantee is the best, that product set will sell best) and never listing even one auction, ever.

Fear is the biggest show stopper for me I think; but one of NOT producing profit, but one of not producing ENOUGH profit.

This had me jumping from one method to the next without ever testing any of them when I was learning to trade Forex for four years. You can see my failed experiments here.

It is time to understand this fear and settle with what I CAN receive from every venture, take up that venture in the form of a test of demand, make calculations of profitability and THEN decide to continue investing my time, effort and possibly money or to divest and start looking elsewhere.

The solutions thus for dealing with this state of Infinite Loop are as follows:
  • record where my time was spent and decide on future time brackets so that an honest tally is possible
  • use the Ego Shield to allow testing of assumptions
  • use the Mind of an Oracle to get testing under way
  • limit Uber Vision to step away from the Infinite Loop

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