Latest / The Empire of Wealth / How To Make Your First _500

Transcript

How To Make Your First _500 · The Empire of Wealth

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  Speaker 1: Job shipping, affiliate marketing, Amazon FBA, there's just so many
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  Speaker 1: ways to make your first $ 500 online. It can be
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  Speaker 1: confusing and frustrating and difficult to know what business to start.
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  Speaker 1: So in today's video, I'm not going to talk about
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  Speaker 1: any of those things. See the truth is, They all work.
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  Speaker 1: There is no such thing as the perfect business model.
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  Speaker 1: It took me failing six businesses by the age of
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  Speaker 1: 23 before that finally sunk in. I came to realize
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  Speaker 1: that there was five main factors that are more important
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  Speaker 1: than the business model that you need to know before
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  Speaker 1: making money online. They're kind of second nature to me now,
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  Speaker 1: but they've always been in the play, in the background
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  Speaker 1: that have helped me take my businesses from $ 0 to
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  Speaker 1: now making over $ 10 million in revenue every single month.
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  Speaker 1: Before I run you through each of these five things,
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  Speaker 1: let me be clear, they all work together like a
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  Speaker 1: powerful chess strategy. Each calculated move sets up the next.
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  Speaker 1: So if you skip a step, then the whole strategy
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  Speaker 1: will fail. Now, don't forget that I've got a completely
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  Speaker 1: free Shopify course. Don't pay $ 8, 000 for gurus. Click the
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  Speaker 1: Discord link below. All right, let's get into it. The
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  Speaker 1: first move for making your first $ 500 online is definitely
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  Speaker 1: the most important. I'm fortunate enough to have friends who've
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  Speaker 1: made millions of dollars, some even billions of dollars using
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  Speaker 1: this one thing. This is the one trait that they
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  Speaker 1: all have. It stands out more than anything else and
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  Speaker 1: it's that they have learned to back themselves. You see,
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  Speaker 1: the reason you're not making money online has nothing to
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  Speaker 1: do with what business you pick and everything to do
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  Speaker 1: with something called self-perception theory. Developed by a psychologist called
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  Speaker 1: Darrell Bem in the 1960s, the theory states that your
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  Speaker 1: brain decides what you're capable on based on past behavior.
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  Speaker 1: So if you've never made $ 500 online, your brain thinks
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  Speaker 1: you can't do it, even though it's not that difficult.
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  Speaker 1: I don't actually remember this story. However, my grandpa recently
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  Speaker 1: pulled out footage of me graduating high school the other day.
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  Speaker 1: Before each student walked on the stage, the teacher would
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  Speaker 1: say what the person wanted to do after they graduated.
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  Speaker 1: First up was someone that wanted to do engineering. Next,
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  Speaker 1: someone wanted to be an architect. And then she reads
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  Speaker 1: out my name. She says, when he grows up, Davey
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  Speaker 1: wants to be a billionaire. And in 10 years time,
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  Speaker 1: he hopes to be a billionaire. Even though this is
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  Speaker 1: pretty cringe and I would never say anything like that anymore,
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  Speaker 1: it does show that the conviction and belief you have
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  Speaker 1: in yourself is extremely important. Stand your ground when someone
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  Speaker 1: starts questioning if you should start a side hustle or
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  Speaker 1: if you want to invest a weekend into an online course,
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  Speaker 1: even when people say that it will never work. Get
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  Speaker 1: used to trusting your own decisions, even if sometimes they're
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  Speaker 1: not always right. You may think that billionaires and millionaires
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  Speaker 1: have some magical talent that makes them super successful.
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  Speaker 2: Maybe you even think that about me.
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  Speaker 1: But trust me, I hang out with these guys and
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  Speaker 1: they all are normal people. They all have the same
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  Speaker 1: doubts as you. They've just learned to back themselves despite
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  Speaker 1: those doubts. So if you want to start making money online,
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  Speaker 1: pick a business and back yourself. So backing yourself is
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  Speaker 1: the foundational chess move. It'll keep your king safe. But
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  Speaker 1: this one is also really important. You need to start
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  Speaker 1: when you're busy. How many times have you said to yourself,
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  Speaker 1: I want to start a business, but I'm just so
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  Speaker 1: busy right now. I'll start after Christmas or I'll start
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  Speaker 1: after the holidays or when crypto starts to go insane again.
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  Speaker 1: If you're not careful, it'll be the trap that keeps
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  Speaker 1: you chained to the nine to five forever.
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  Speaker 2: I like to refer to this as the tomorrow illusion.
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  Speaker 1: You've convinced yourself in some illusionary future that you won't
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  Speaker 1: be busy.
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  Speaker 2: But I'm telling you, that's the completely wrong way to
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  Speaker 2: look at it.
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  Speaker 1: This is because the brain follows something called Parkinson's law,
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  Speaker 1: which states that we stretch out tasks equal to the
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  Speaker 1: amount of time that we give to complete them. So
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  Speaker 1: if you give yourself a week to research a business idea,
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  Speaker 1: it's going to take a week. But if you give
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  Speaker 1: yourself three hours, your brain will find a way to
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  Speaker 1: do it in three hours. So by definition, you're always
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  Speaker 1: going to feel busy no matter how much time you have.
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  Speaker 1: Back in 2013, I was insanely busy. I was studying
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  Speaker 1: mining engineering, but at the same time, I was finding
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  Speaker 1: the time to grow Instagram accounts. I would sell advertising
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  Speaker 1: on these Instagrams and that led me to e-commerce. If
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  Speaker 1: I didn't start when I was insanely busy doing mining engineering,
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  Speaker 1: working assembling furniture on the weekends, I never would have
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  Speaker 1: got into the industry. If you feel like you don't
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  Speaker 1: have enough time, just get up earlier. I was getting
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  Speaker 1: up at 4 a.m. to work on Instagram and then
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  Speaker 1: I would go assemble furniture. The truth is you don't
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  Speaker 1: actually need to work these crazy hours to make your
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  Speaker 1: first $ 500 online. All you need to do is maybe
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  Speaker 1: two hours a week initially and just get started. But
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  Speaker 1: you do need to be laser focused and productive. And
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  Speaker 1: this brings us to our next factor, which is the
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  Speaker 1: 80-20 rule. You see, when people are trying to make
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  Speaker 1: money online, they're focusing on the wrong thing, the wrong
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  Speaker 1: actions that produce very little results. The 80-20 rule works
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  Speaker 1: by focusing 80% of your energy on 20% of the
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  Speaker 1: tasks that produce the most impact, the most results. For example,
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  Speaker 1: most people who start a dropshipping business spend 80% of
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  Speaker 1: their time watching how-to videos on YouTube. This is instead
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  Speaker 1: of doing some high impact tasks like testing new video ads,
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  Speaker 1: getting your iPhone out and shooting a viral TikTok and
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  Speaker 1: even launching a whole new product rather than just watching
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  Speaker 1: tutorial after tutorial. So they never end up getting results
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  Speaker 1: and eventually quit. When if they were just focusing on
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  Speaker 1: that 20% of those tasks that create sales, specifically sales,
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  Speaker 1: they would have been much more likely to succeed in business.
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  Speaker 1: So use those two hours that you can dedicate to
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  Speaker 1: the business in maximizing results. Now, if you feel like
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  Speaker 1: you can't even find two hours a week to get started,
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  Speaker 1: my last fifth factor is a really, really good trick.
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  Speaker 2: So keep watching.
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  Speaker 1: I like to call it the copy and paste. It's
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  Speaker 1: just the copy and paste the path of a mentor.
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  Speaker 1: When I was first getting started in e-commerce, I would
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  Speaker 1: just constantly fail miserably. I launched my seasoning brand and
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  Speaker 1: nobody bought. I just had no clear plan. And then
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  Speaker 1: eventually I surrounded myself in the e-commerce community. And I
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  Speaker 1: got someone like Greta Van Riel in my corner teaching
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  Speaker 1: me how to do influencers. And all of these mentors
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  Speaker 1: has shaped my path. I would just grab a little
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  Speaker 1: bit of knowledge from this mentor in this area. A
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  Speaker 1: little bit from like Toby Pierce in terms of business acumen.
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  Speaker 1: And this then helped me launch Calming Blankets, my first
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  Speaker 1: successful brand, which made over a million dollars profit in
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  Speaker 1: its first year. This is because mentors know exactly the
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  Speaker 1: traps that they fell into and they can teach you
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  Speaker 1: the hard lessons without you having to learn them. Now,
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  Speaker 1: here's the trap that everyone is getting into. People think
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  Speaker 1: that to get a mentor, you just need to DM
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  Speaker 1: someone on Instagram and say, can I buy you a coffee?
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  Speaker 1: But a good mentor doesn't actually need to be someone
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  Speaker 1: you have one-on-one. A mentor can be an amazing book,
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  Speaker 1: a really detailed YouTube video, like a how-to, or just
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  Speaker 1: a free online course. Another mistake I see people making
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  Speaker 1: is that they go and contact someone that's doing over
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  Speaker 1: $ 100 million in sales. But the truth is you don't
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  Speaker 1: need help from that person. You just need to find
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  Speaker 1: a mentor that's doing $ 10, 000 of sales because they have
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  Speaker 1: just walked the path that you are trying to walk
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  Speaker 1: most recently. So they know they can remember everything and
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  Speaker 1: you're just trying to achieve what they've achieved first. It's
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  Speaker 1: all about sequencing and stepping up. But just make sure
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  Speaker 1: that you're not getting shiny object syndrome and just constantly
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  Speaker 1: getting distracted with new ways of making money. Just pick
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  Speaker 1: one method that you think is gonna work and find
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  Speaker 1: a mentor and just keep testing, keep iterating. Alrighty, so
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  Speaker 1: I promised you a strategy about how to get two
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  Speaker 1: hours every week without giving up Netflix, hanging out with
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  Speaker 1: your partner or even.
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  Speaker 2: Doing things that you enjoy.
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  Speaker 1: I use this technique every day to build my business
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  Speaker 1: and still enjoy plenty of free time. It's called time
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  Speaker 1: blocking and after implementing it, you'll know exactly what to
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  Speaker 1: do and when you can relax. See, I used to
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  Speaker 1: feel like the day just got away from me. I'd
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  Speaker 1: wake up in the morning with no clear plan for
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  Speaker 1: the day. So I'd grab a coffee and just start
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  Speaker 1: working on whatever I felt like, whatever I was passionate
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  Speaker 1: about or whatever was easiest. I would start one thing
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  Speaker 1: and then 20 minutes later, I remember I had to
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  Speaker 1: do another thing. So all my day was basically exhausting
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  Speaker 1: my brain. I was feeling extremely scrambled. It was actually
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  Speaker 1: taking energy to decide on what I should be doing.
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  Speaker 1: This was until I learned about time blocking. So the
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  Speaker 1: way time blocking works is you get your calendar and
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  Speaker 1: you schedule out your entire day. Every single second has
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  Speaker 1: a task in it. So it might be waking up,
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  Speaker 1: having breakfast, going to work, going to the gym. Eventually
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  Speaker 1: you'll realize that there's big gaps in your calendar that
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  Speaker 1: you're filling with absolute nonsense. This will then allow you
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  Speaker 1: to schedule, research product, launch Shopify store and you'll finally
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  Speaker 1: have enough time to get started making money online. You'll
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  Speaker 1: find these random 15 minute pockets, 30 minute pockets that
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  Speaker 1: you can really focus on your online business. Now remember,
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  Speaker 1: Parkinson's law, if we give ourselves a very small amount
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  Speaker 1: of time to get a task done, we'll probably be
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  Speaker 1: able to do it. So this brings us to our
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  Speaker 1: final chess move to make $ 500 online. It'll completely remove
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  Speaker 1: your fear of failure so that you can finally start
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  Speaker 1: to take action and generate an online income.
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  Speaker 2: It's called the test and fail framework.
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  Speaker 1: This framework goes against everything that school has brainwashed you with.
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  Speaker 1: They drilled into you that if you failed, it was
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  Speaker 1: a bad thing. But this framework completely debunks that. And
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  Speaker 1: it's the way that all successful people think. Because the
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  Speaker 1: truth is failure is the only way to achieve your dreams.
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  Speaker 1: I launched an iPhone business, headphone business. I launched a cafe.
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  Speaker 1: They all failed, but they all built skills that I
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  Speaker 1: then used to create my successful business.
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  Speaker 2: So don't be afraid of just getting started and failing.
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  Speaker 1: If you want me to help mentor you, watch this
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  Speaker 1: next video on how to build a Shopify store and
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  Speaker 1: put all of these things into practice.
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  Speaker 2: Don't forget to like and subscribe. Thanks.