Sometimes Business Is A Game Of Would You Rather?
Remember That Stupid Game?
The would you rather question was always something so horrible they could not make a movie of it as it would receive an X rating. I know technically we can publish anything we want on the Hive Engine, however, I am not trying to go out of my way to offend anyone.
Suffice it to say the game went something like this "Would you rather eat moldy cheese, or drink sour milk?" I made this one Rated G 😄
This Has Been My Would You Rather
Would you rather get a $300 loan to win a challenge or stick with your business plan? I chose to stick with my business plan as I could not figure out how to repay the $300 in a timely manner and with a little interest of about 5% as a thank you. Normally my loans are granted by friends and family. They never ask for any type of interest or even put a timeline on repayment. I make it a policy to clear all debts including credit card debt cleared every 60 days.
Judging by the above paragraph you can say I played it safe. That is a true statement. I have cancer and this type of medical condition can throw complications at me from nowhere so I keep 6 months of wealth, and carry little to no debt. When I pass on to the great whatever, I am not leaving my loved ones with debt.
Have You Ever Robbed Peter To Pay Paul
Being in business is about making hard decisions on a daily basis. When I speak to other business people in the CTP and LeoFinance communities they seem so clear and decisive about everything they do even when it appears they are changing direction, their explanation is so clear and logical.
There are times when I have to take money from a place that I did not want to spend and poof it's gone. This really happened to me. I opted into a competition to be the top three in the ListNerds Token Richlist. The prizes were fantastic, and which price was the best is just a matter of personal opinion as all three prizes made it possible to earn more money.
There was a Gold Foil Legendary Splinterlands Card (easily rentable for daily DEC)
5000 Hive Power Delegation for a month (another big-time earner)
1 Year Maximum upgrade in ListNerds (a great way to build your list.)
Any one of the above prizes would be excellent. After doing a bit of math, I realized I did not have the funds to continue, not only that but after liquidating all of my other tokens even ones I hate to liquidate like CTP and Index to buy as many ListNerds tokens as I could.
I was facing a hard choice. Would you rather keep your Listnerds Tokens or pay some overdue bills. It is like a gut punch because I really wanted to be somewhere in the top three especially as I was in it for about 5 days. Then some of the other Listnerds members they are also CTP community members made some bold moves and purchased well above 100 ListNerds Tokens leaving my 59 tokens in the dust.
I Got Emotional, Took a 25% Loss
I took a 25% loss on my ListNerds tokens because I did a panic sale. As you read above I really do not like debt and hate the debt I currently carry. This is where things get stupid. It turned out that I had a big sale coming my way that I did not know about.
Once in a while another reseller will see some of my listings and make me a bulk buy deal. I know they are going to resell it for a profit. It boils down to would you rather have $500 today or $1,000 90 days from now?
I chose the $500 today and had the money I needed for bills so I bought back my CTP, plus some ListNerds tokens and I am going to buy back my Index, as well. The awesome thing is I will have some money left over and will be able to make an end-of-the-month token buy.
When I Make A Mistake...
When I mess up I usually have a slight meltdown, then I look to remedy the situation quickly. Most problems respond to either money or time. The one I choose is usually the one I have the most of.
In this situation, I only really lost about $50. I learned a lot for the small price of $50. Before I spend 1 Hive I need to be sure I know why I am doing it, and have a real strategy to actually compete without having to delay or stall payments on a debt.
Slow and Steady
This brings me back to slow and steady wins the race. I have a plan to acquire enough Hive Power this year to reach Dolphin status and would like to hit 10K to 20K on the tokens I collect. If I stick to my plan these numbers are very achievable.
However, if I keep chasing every shiny object I see taking time away from content creation, curation, and engagement plus my reselling business then I will never achieve those goals. I will be that 4-year Hive Engine member talking about still trying to make it to Dolphin when by then I should be Orca or Higher.
I Am The Boss
Being the boss, having a 100% self-employed household has been a goal I have been striving for since 2013 and achieved October of 2020.
That being said everything that goes well is because of me and everything that goes wrong is also because of me. I need to be sure to do my own research. Have time available for the new endeavor. Understand that there will be a learning curve.
I really appreciate you taking the time to read this 😃
