How can we know that we are not wasting our time doing a business?
Weigh the number of years you have been in been in business and the profit you have made so far. Are you making more profits or losses? Weigh the customer base you have when you started and what you have now is there an increase or a decrease? How about staff turnover? Have you added more equipment, office space, more services to the list of what you offer? If you answered this questions truthfully then you know whether you are wasting your time doing business or not? 
Topic: The thin line between contentment & living below potential, Patience & wasting t - page 3. (Read 522 times)
May 13, 2023, 10:39:18 AM
May 13, 2023, 10:18:54 AM
In any business activity or job, there is a time limit for judging the project to fail. For example, before you think of resigning from your job, you must have enough money to cover your expenses for the next two years, otherwise it is better to stick to your job and secure a second job.
The same applies to commercial activity. Depending on these activities, the period in which you can be patient varies. For example, the technological sectors are sensitive to changes, and therefore need a period of 6 to 9 months. It depends on the economic activities such as the trade of cloth and clothing, which takes from one year to a year and a half, including the traditional trade in grains and oils, which needs more than 3 to 5 years before you decide that the project is a failure.
Every business analysis obviously takes time when you have an idea thar either business is going in profit or loss , either you are wasting time or its benefits your future. The same applies to commercial activity. Depending on these activities, the period in which you can be patient varies. For example, the technological sectors are sensitive to changes, and therefore need a period of 6 to 9 months. It depends on the economic activities such as the trade of cloth and clothing, which takes from one year to a year and a half, including the traditional trade in grains and oils, which needs more than 3 to 5 years before you decide that the project is a failure.
Every business time margin is different some takes 1 year to tell you the status of your standings some takes 3 to 5 years to tell you where you are going. So yes patience is required in this regard but don't take it long to be patient so that you have a loss.
May 13, 2023, 09:22:19 AM
In any business activity or job, there is a time limit for judging the project to fail. For example, before you think of resigning from your job, you must have enough money to cover your expenses for the next two years, otherwise it is better to stick to your job and secure a second job.
The same applies to commercial activity. Depending on these activities, the period in which you can be patient varies. For example, the technological sectors are sensitive to changes, and therefore need a period of 6 to 9 months. It depends on the economic activities such as the trade of cloth and clothing, which takes from one year to a year and a half, including the traditional trade in grains and oils, which needs more than 3 to 5 years before you decide that the project is a failure.
Every business analysis obviously takes time when you have an idea thar either business is going in profit or loss , either you are wasting time or its benefits your future. The same applies to commercial activity. Depending on these activities, the period in which you can be patient varies. For example, the technological sectors are sensitive to changes, and therefore need a period of 6 to 9 months. It depends on the economic activities such as the trade of cloth and clothing, which takes from one year to a year and a half, including the traditional trade in grains and oils, which needs more than 3 to 5 years before you decide that the project is a failure.
Every business time margin is different some takes 1 year to tell you the status of your standings some takes 3 to 5 years to tell you where you are going. So yes patience is required in this regard but don't take it long to be patient so that you have a loss.
May 13, 2023, 09:16:14 AM
In any business activity or job, there is a time limit for judging the project to fail. For example, before you think of resigning from your job, you must have enough money to cover your expenses for the next two years, otherwise it is better to stick to your job and secure a second job.
The same applies to commercial activity. Depending on these activities, the period in which you can be patient varies. For example, the technological sectors are sensitive to changes, and therefore need a period of 6 to 9 months. It depends on the economic activities such as the trade of cloth and clothing, which takes from one year to a year and a half, including the traditional trade in grains and oils, which needs more than 3 to 5 years before you decide that the project is a failure.
The same applies to commercial activity. Depending on these activities, the period in which you can be patient varies. For example, the technological sectors are sensitive to changes, and therefore need a period of 6 to 9 months. It depends on the economic activities such as the trade of cloth and clothing, which takes from one year to a year and a half, including the traditional trade in grains and oils, which needs more than 3 to 5 years before you decide that the project is a failure.
May 13, 2023, 09:08:02 AM
I can relate to what you're mentioning because I've done it myself in the past and possibly still do. Unfortunately, it's a combination of comfort and routine after working at one place for a long time. Routine is usually to blame, and getting out of your comfort zone seems almost impossible. It's a vicious cycle that consumes you. I also turned down decent job opportunities that were relevant to my field of study because I couldn't break the cycle. I can't explain exactly why; I just kept finding excuses. I suspect that it's a combination of being afraid to go after a new career and being used to the comfort of the job you're familiar with.
"Fear of the Unknown"It's a thing for real. Sometimes you feel like just sticking to what you know and what you are used to, after all, you've got a good thing going. It may help you avoid certain risks but at the same time, it may be limiting.
You can blame yourself for choosing the safest option. I do feel that way too sometimes, especially when I'm about to make a big decision.
We just have to keep learning how to take calculated risks because if we don't we can't go higher in life. Starting over is never easy. After staying at a particular job you're comfortable with for a long time, it won't be easy to just get up and accept another job, even if they present a better offer. But we must learn to asses the situation and make the best decision.
May 13, 2023, 03:04:47 AM
There is a lot a thin line between wasting time and patience. How can we know that we are not wasting our time doing a business?
To understand if you are wasting your time, you need to do something. Just by thinking about it, you will never feel all the joy or pain of the work you have begun. I'd say it's better to try and regret it than to do nothing. The one who once got rich took risks. He risked his money and his name, but he tried, maybe even more than once.
If we talk about satisfaction, then we can say that people are different, not everyone, and having a lot of money plays a big role in life. Look at the people in art. Artists, musicians, poets, and scientists are people of a different mindset. They rejoice in their hobbies, and not everyone immediately has a good financial situation. I would call such people lucky.
Therefore, among us, there will always be people who are content with little but feel happier than those who are constantly chasing profit. And if you look around, then there are a lot of such people on the forum today.
May 13, 2023, 01:40:45 AM
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But op asked about mindset over business strategy.Measuring contentment is relative depending on several factors such as environment lifestyle. There are some business people who survive for years with a flat income without updating their strategy because they think they are quite successful compared to the people around them, the income at that time is enough to guarantee that their standard of living will still be higher than average. Economic disparities are sometimes felt more in some places, so that the comparison will not be difficult to determine the level of contentment individually.
May 13, 2023, 01:24:46 AM
There is a thin line between being contented and living below your potential, this is what I have come to notice with some people around me who should be doing better financially than they are but because they claim to be contended they have refused to do more. How can you explain financial contentment to someone successful and what do you think it is?
IMO, being contented and living below your potential goes along with each other. Because when you're contented, that simply means you don't want to step up your game a few more steps from where you're at currently. There's always a room for improvement because life is a continuous learning. Therefore, I can say these 2 comes along together and the reason why some people are like this, is because they are afraid to take the risk, afraid of failure, and afraid of responsibilities. So, they're trying to keep up the pace where they're comfortable at.
There is a lot a thin line between wasting time and patience. How can we know that we are not wasting our time doing a business?
Well, patience could turn out to be a waste of time and vice versa depends on the outcome. Taking every opportunity that comes along your way that also makes you think you're ready and will lift you up when everything goes well, is a definition of not wasting time. 
May 13, 2023, 12:59:43 AM
To know if the business is worth pursuing we need to know the factors affecting it. Market demand we need to know if there is a need for the product or the services we are offering. Conducting market research and analyzing the industry trends can help us determine whether there is a viable market for our business. We should know also our competitors whom we are competing with that we can determine how we could stand among our competitors. How profitable is the chosen business product or services, we can do it by tracking the daily expenses to see if the business is sustainable. Regular evaluate the progress the business to see if it is worth to continue it or not.
May 13, 2023, 12:13:38 AM
There is a lot a thin line between wasting time and patience. How can we know that we are not wasting our time doing a business?
What I use to know the difference between time wasting and patience is the small results that has to be achieved before the final results. For example, when you take calculated risk, you're been patience because you have already calculated the possibilities of your investment and 90% sure of it been successful but when you just take risk without it been calculated then you're just wasting your time.
When doing a business, you should be able to know the difference between things that are just wasting your time and things that need you to be patient to get results. If you invested in Bitcoin, you need patience to get good profits but investing in memecoins are waste of time.
May 12, 2023, 11:34:30 PM
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There is a lot a thin line between wasting time and patience. How can we know that we are not wasting our time doing a business?
There is also a subtle difference between expecting a lot and being greedy. I think, people who start a business must believe that "effort will never betray you" so that their patience waiting for a worthy and reasonable result will not break. Conversely, greed can make you give up in the middle of the journey and too quickly conclude that "life isn't fair" because you compare it to the success of other people who are better with the same effort.There is a lot a thin line between wasting time and patience. How can we know that we are not wasting our time doing a business?
In my belief there is a wise saying, "you can imitate the efforts of others, but maybe not with the results either".
May 12, 2023, 11:04:36 PM
... this is what I have come to notice with some people around me who should be doing better financially than they are but because they claim to be contended they have refused to do more.
My experience is the opposite. People who are content with what they have do better financially, because they don't try to get into risky investments, they don't buy stupid stuff to impress the neighbor and things like that.
Not everyone would like to become a billionaire and buy an island, especially when it requires effort. Normally if you are doing well financially, you will do even better if you are satisfied with your life and your wealth is a complement than if you take wealth as an end in itself, always aspiring to be richer and richer no matter what you have to give up to get there.
May 12, 2023, 10:49:52 PM
I think it's a matter of perspective. A previous workmate has a mom who is a physician by profession. She's not practicing. She's a housewife, if I'm not mistaken. I'm not sure if the family has a business she's managing. But we were all surprised when he shared that. We felt it was such a great waste of opportunity and potential. It isn't easy to become a physician and there's also money practicing it, and she just set it aside. But she's said to be happy and contented. Who are we to say she's wrong?
I guess we simply can't assign monetary value to everything. I, too, am a university graduate. I almost finished all my academic units in my masters. I topped the civil service exam in the region. I chose to side hustle. Many relatives and friends think I wasted my career potential. Well, I guess I have to choose the fun side of life.
I guess we simply can't assign monetary value to everything. I, too, am a university graduate. I almost finished all my academic units in my masters. I topped the civil service exam in the region. I chose to side hustle. Many relatives and friends think I wasted my career potential. Well, I guess I have to choose the fun side of life.
May 12, 2023, 10:46:06 PM
I think it is primarily a psychological factor. The degree of contentment differs from one person to another, and the amount of contentment cannot be determined uniformly for all people.
Some people are satisfied if they get 1,000$ a month, for example, but others may not feel content even if they get a million dollars, so there cannot be equal conviction among all people.
Some people have the ability to earn more and more, but they are satisfied and convinced of the success they have obtained and do not want to waste any more time.
Some people are satisfied if they get 1,000$ a month, for example, but others may not feel content even if they get a million dollars, so there cannot be equal conviction among all people.
Some people have the ability to earn more and more, but they are satisfied and convinced of the success they have obtained and do not want to waste any more time.
May 12, 2023, 06:58:22 PM
At the end of the day, it's just their preferences that are pushing them to live below their means or their potential as you say it. If you've been used to a way of life long enough, you'll find it difficult to adjust to a new one or upgrade some aspects of your life, especially financially. I am, by no means, a rich guy. I have money, I can quit my job and live comfortably for the next decade or so, but I still refuse to buy myself high-quality clothes or even eat in fancy restaurants that I see other people do. I can say that somewhat, I already achieved financial freedom as I no longer wait from paycheck-to-paycheck and can even get my salaries delayed (lol I hope not).
It's just your mindset taking over you, and it's a very powerful one - to be thrifty and not spend a lot when you don't really need it.
It's just your mindset taking over you, and it's a very powerful one - to be thrifty and not spend a lot when you don't really need it.
May 12, 2023, 04:40:08 PM
It can be challenging to get out of your comfort zone and embrace change. Many people experience similar difficulties when faced with the prospect of stepping into foreign territory, even if it has the potential for growth and advancement. The fear of the unknown, the comfort of the familiar, and the inertia that comes with routine can all contribute to the difficulty of change. People tend to gravitate towards what feels safe and predictable, even if that means missing out on new opportunities. So consciously challenge yourself to step out of your comfort zone, and you will open the door to new possibilities and experiences that can enrich your life and career.
May 12, 2023, 04:32:55 PM
There is a thin line between being contented and living below your potential, this is what I have come to notice with some people around me who should be doing better financially than they are but because they claim to be contended they have refused to do more. How can you explain financial contentment to someone successful and what do you think it is?
There is a lot a thin line between wasting time and patience. How can we know that we are not wasting our time doing a business?
I don't think there is a contentment with finance as there is still urge to want to have more because there is practically no limit to human desires.There is a lot a thin line between wasting time and patience. How can we know that we are not wasting our time doing a business?
People who claim to be contented financially as te either mentally or physically lazy and don't want to be stressed with innovations and creativity and simply just seek for a comfort zone to hide.
There is a bold line between patience and time wastage especially by the person directly involved.
One can be said to be patient if they are waiting for the result of a realistic project and why time wastage is a situation where one does same thing repeatedly and expecting different result.
May 12, 2023, 03:56:16 PM
You make a terrible mistake by judging others based on your standards. Never do that. For some people the accumulation of material wealth is not contentment. They are not moved by all the millions in the world
May 12, 2023, 03:21:47 PM
There is a thin line between being contented and living below your potential, this is what I have come to notice with some people around me who should be doing better financially than they are but because they claim to be contended they have refused to do more. How can you explain financial contentment to someone successful and what do you think it is?
There is a lot a thin line between wasting time and patience. How can we know that we are not wasting our time doing a business?
There is a lot a thin line between wasting time and patience. How can we know that we are not wasting our time doing a business?
Personally, financial satisfaction is financial freedom. We don't think about the price of the goods or food we buy, but to achieve that, we must be successful first.
the way we know we are not wasting time, in my opinion, is to do something useful for ourselves, like hanging out with our business friends, at least we have new knowledge and relationships every day, not just bullshit
May 12, 2023, 03:05:59 PM
I can relate to what you're mentioning because I've done it myself in the past and possibly still do. Unfortunately, it's a combination of comfort and routine after working in one place for a long time. Routine is usually to blame, and getting out of your comfort zone seems almost impossible. It's a vicious cycle that consumes you. I also turned down decent job opportunities that were relevant to my field of study because I couldn't break the cycle. I can't explain exactly why; I just kept finding excuses. I suspect that it's a combination of being afraid to go after a new career and being used to the comfort of the job you're familiar with.
This is the adverse negative aspect of remote work vs its many advantages, what breed conformity between us and our comfort zone os the level of financial flows and the ease of adopting to the raising climate and economic changes, because take article writing for example of you are a writer I Amazon and work from home earning a decent monthly income and haven't no need for transportation and other communal expenses that comes from regular 9-5 jobs in whatever field. But then we must have the ability to stay flexible with whatever working conditions and make constant attempt to engage and exploit other new opportunities and field, diversification can increase your cash flow.
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