February 2, 2012, 6:00 am

How-to Overcome The Fear of Getting Rich Slowly

by: MD    Category: Alternative Income
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“I’m thinking of faking a shoulder injury at work to get some money or time off.” This is what a friend said to me the other day. I didn’t know how to react because I hate to shoot ideas down and judge friends. I just didn’t react at all. This friend is all about chasing the next buck. He’s always looking for that quick dollar. He’s going to get rich one day. He’s holding out for the day that he can make big money and retire. He’s not really a fan of the whole build your wealth through making more money and cutting back on expenses approach. I guess it’s not for everyone.

Are you always chasing the next buck? Are you after that huge money? Are you waiting to get rich quick?

“If you enter a niche because you’re following the dollars, you wont keep it up. It’s too much work, and you will get tired and frustrated and you will eventually fold.” — Gary Vaynerchuk

There’s nothing wrong with hustle and working your butt off. There’s a problem with always trying to chase the next trend or big money opportunity. Trying to get rich quick is a pretty serious problem. There’s a cure though.

How you can avoid chasing the next buck and actually focus on what really matters (aka crush the fear of getting rich slowly):

Success only comes before work in the dictionary.

This isn’t just some corny line that you hear on the first day of grade 7. The average person (not including Jersey Shore characters) won’t have the ability to become successful if they don’t put the work in first. That’s just how it works. You can argue all that you want but you don’t want to risk missing out on life by trying to get rich quick.

You need to focus on one thing.

When your mind is all over the place you dilute your focus and don’t give the right amount of energy to important tasks. I’ve seen too many friends get lost in the idea of starting the next Facebook that they lose complete focus on what matters (their studies) and they end up failing where it hurts the most (dropping out of school). This is why I truly believe in focusing on one major goal. This could be a dream job, a solid business idea, a trade, a job where you can move up the ranks, or profitable hobby. When you keep on trying to chase the big dollars you can lose yourself easily.

You have to create your own luck in this world.

You’re not going to accomplish anything by complaining and blaming the world for your problems. Henry Hartman said it best with, “success always comes when preparation meets opportunity.” If you’re prepare and working hard, great things can come to YOU. When you’re looking for a shortcut you’re not going to find the response that you want.

Think of the negatives of going fast.

Our generation is pretty concerned about slow progress. This is likely why workout supplements are a 24 BILLION dollar industry on an annual basis. We all want quick results. We all want a shortcut. We just rarely take the time to look at the negatives of trying to go fast. What are some of setbacks of searching for a shortcut:

  • Burn out.
  • Wasting time.
  • Spending more money than taking in.

Are you sure you want immediate results? Can you wait?

I’m not opposed to chasing the big bucks and going after the big wins. I just think the problem is that you can waste valuable skills by not focusing on consistent and daily goals. You’ll be surprised by what you can accomplish over an extended period of time with just a few hours a day.

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Comments

I’m pretty sure success comes before work in the dictionary. Otherwise everything is spot on. Slow down, focus and prepare yourself for the long haul and the possibility of failure. I know all of this is difficult in our world of instant gratification, ADD and “no one fails”, but the reality is as you said “The average person…won’t have the ability to become successful if they don’t put the work in first” Find what you love and the money will follow, or maybe not, but at least you will be happy with what you are doing.

I couldn’t have said it better myself! I remember when I started my first blog and most of my friend called it a waste of time and effort. After over a year I started getting $500 check every other month just from posting some post on the site. Now they want to get in where I am now. Put in no work and want results yesterday said but most people fail because they want money as soon as they start. Now I am working on almost 25 sites and again they say waste of money and time. Lets see what they say 2-3 years from now.

Hard work and hustling doesn’t guarantee success but it will better your chances!

@MI There’s nothing better than being happy with what you are doing. Isn’t that what life is all about?

@thomas So true. Hard work will always improve your chances. It beats the alternative of hoping to get rich. You manage 25 sites? That’s amazing! What do you do exactly?

@ MD -Well to say manage would be a over statement at this point (working on) would be more appropriate. I have several finance and travel blogs, a couple of niche sites and some affiliate sites. Many of in the beginning stages which is way the require so much work. I am trying to get a few to get some money coming in to help expand the others. I actually emailed you earlier.

Good points! I usually focus on one thing at a time. I already accomplished a lot of what I want. Having a goal and plan helps achieve success.

It has been my experience that persistance wins hands down. It wins over being super smart. It wins over being super lucky. It wins over going for the big wins.

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This is me to a tee: I stretch myself thin, trying to do one hundred things at the same time. And ultimately I lose focus and burn out. I am so much better now that I’ve learned from my mistakes.

People need to realize that it takes small steps to build wealth. People feel entitled these days. They look for a magic button that they can push and make money automatically. It doesn’t exist.