If it works, keep doing it
The biggest mistake I’ve ever made is to stop doing what works. It sounds nuts, but true. Let’s stay on target when success lands.
Why People sabotage success
I’m not here to psychoanalyze all the reasons for killing my success. Because that won’t help you or me. Therefore once you succeed, keep on doing it. Keep doing what works.
The Hard part
The hard part is staying motivated while you make money. So getting board does enter into it. Imagine doing the same thing over and over without any reprieve. I’ve intentionally killed my success on several occasions. There are reasons for this so let’s look at how not to do it.
If it works
If what I do works I stick with it. So new businesses sometimes show very little results in the beginning. Therefore when I went 100% internet 10 years ago I had small success. My small successes grew rapidly. Therefore I stayed with it knowing it would grow over time.
Every little sale increased my desire to continue. Therefore every day became a new adventure as my wins continued to grow.
The courage of your convictions
To succeed at anything you must have the courage of your convictions. If you know your right, then have the courage to keep going. If your convictions work, then you must have the courage to perserveare.
Did all my wins grow in an upward trend? Of course not. Nothing ever goes straight up. Because that’s not how it works. Each success proved my theory that I could transition to 100% e-commerce. 30,000 customers, later I’m still growing the business from that first sale.
Passion is not the answer
People say to find your passion. So I looked and there wasn’t any there. What I did find was something that worked. Worked means I got a result, even though it was tiny. From that tiny win of a few dollars, it’s grown into a multi-million dollar business.
From concept to reality
So my concept graduated to reality by taking action. My action gave me a tiny dollar result. And my result grew into a multi-million dollar business over a few years. No passion, just action, and having it work. That first result convinced me I could do it over and over again.
Like I always say “if you can do it once, you can do it a thousand times”
Stock trader to Investor
I went from a stock trader to a stock investor. So instead of buying and selling daily, I picked the best companies and held them. It wasn’t easy because my temperament is to trade not hold. However, over time, I was able to change my temperament to an investor.
In this case, waiting was what I needed. And waiting is the toughest thing for me to do. So the longer I waited, the more I made.
Warren Buffet says…
Warren Buffet helped me to realize the error of not waiting. As Buffet would say, “Selling your winners and holding your losers is like cutting the flowers and watering the weeds.” This gave me the courage to hold instead of trade. So with each win, I kept doing it over and over again.
So why cut the flowers and water the weeds?
That’s the question for psychiatrists and prognosticators as to why people do stuff. So I prefer to look at what works and focus on that. Because watering the flowers and cutting the weeds is way more profitable and fun.
Top Reasons for what works
- Come up with an idea.
- Try it out, if it works stay with it.
- Failure breeds success.
- Stay motivated with wins, boredom will come.
- Don’t change course until you’re on autopilot.
First comes my idea. I want to work from home. So I have to be an entrepreneur and give up the paycheck. Therefore I need to make money at something, so what am I good at? I am good at selling stuff. And I am also good at finding stuff too.
Try it out
So I quit my job to try out my idea. I hated working for others and needed to try it out. So I went for a walk down Wilshire Blvd. in Brentwood to Ocean Blv. in Santa Monica and then back up San Vicente. This is about a 7-mile walk.
When I returned my idea was in place and I started to work it. The computer industry was new and I would “clean it up”. Like the auto industry, there would be failures and failures meant money.
I called myself a “liquidator” someone that turns businesses into cash. Later the name would be changed to “asset recovery”, but the job is still the same.
So I called Sam Nassi, the king of liquidation. Here’s NY Times on Mr. Sam. https://www.nytimes.com/1979/08/26/archives/sam-nassi-the-corporate-mortician.html
Mr. Nassi talked with me for about three minutes. I found him in the phone book and he answered his own phone. I introduced myself and asked him for one piece of advice after telling him I was entering his industry.
“You have to be small before you can be Big”
This is what Sam Nassi told me. You have to be small before being big. It’s now 35 years later and his words ring more clear. So what Sam was saying is there is no instant success. You have to start small and grow your idea over time. In other words, if it works, keep doing it.
The same applies to everything. It’s not just business, it’s life in general. If a relationship works, keep doing it. A business idea works, keep working on it. Small successes build into big things.
One of my favorites Janell Monae talks about getting fired because she walked off the floor to talk with one of her then 6 fans. I think she has more than 6 fans today. She found a way to connect with fans and she worked that win, even though she got fired.
We need to overcome boredom and keep doing what works. Trying new things is good, but staying with existing success is better. No matter what others say, if what your doing works, then keep on doing it.
Mike Addis, Carlsbad, California