There are so many life lessons website investing has taught me, and there are also some just as profound if not more impactful lessons website investing hasn’t taught me. Lessons which I picked up along the way that have greatly complimented success as a website investor.
These are the type of life lessons website investing didn’t teach me that I believe need to be shared as they go hand in hand when wanting becoming a successful website investor.
- Long Term Investing Is More Rewarding FinanciallyI have been investing most of my life and I had always learnt that the greats such as Warren Buffet, Benjamin Graham, Peter Lynch and the likes of John C. Bogle were advocates for long term investing as a winning strategy.The thing is I used to often got caught up in seeking quick wins from buying and selling my investments (like stocks). Where I would sell within weeks to months and rarely but sometimes over a year or further down the track. When compared to buying and selling websites, or should I say “flipping”. You too can do this with website investments by holding for just a few weeks or months to make some quick cash also.Although “flipping” as such was never my strategy towards website investing even though the whole ‘buy and hold’ or ‘invest for the long term’ strategy never really sunk in until I read a great book by John C. Bogle. Which is ‘The Little Book Of Common Sense Investing’.As I read through this great book of his all the pieces of the puzzle came together and finally clicked. I realized how far more lucrative, easy, and simple it is to invest for the long term in not just stocks but almost any type of investment.I learnt that when buying and selling within short time frames all the brokerage costs add up to be quite excessive. Which means compounding these costs together digs into a large chunk of not just your ROI on each investment but a grand portion of your investment portfolio over the long term.Which is why my opinion and the opinion of all the greatest investors is to save money on commissions and the buying and selling fee’s ect. Logically it is by fa better to buy and hold website businesses (or most investments) for the long term. The choice within this method of long term investing can allow you the time to either maintain investments at their current earnings, or better yet grow them to build your investment portfolio even grander.
- Taking Notes & Reviewing Leads To Ground Breaking Life Changes
As a knowledge junkie I read many books (last year, 2016 I was just shy of 1 book per week), listen to podcasts, watch videos and of course attend seminars (online and offline). I simply love learning, though in the beginning learning was never my strong point, that is of course until I started learning how to make money online by buying and building website business.As I continued to grow and learn, I realized that not everything that was going into my brain was staying there. The reason for this is because I was learning so damn much and so damn quickly. So in order to retrain all this amazing information, I started taking notes on almost everything I would learn, for example from seminars and especially books.Even I didn’t to go over my notes again at a later date (which I suggest you should). Just by taking them helped me to slow down the lessons I learnt because in the act of writing the lessons on paper (or my phone notes) and repeating it to myself it helped to embed that lesson in my brain.When positive insights are noted down and repeated, especially if it’s something we are interested in and resonates with us. That lesson becomes more and more embedded in our brain which can subconsciously alter our views, decisions and paradigms in life for the better.Just by taking notes and simply reviewing them afterwards, we can absorb all the great knowledge we have acquired which can help us to improve our life. Not just when you are learning to invest in websites either, but many other lessons too. For example singing lessons, I can guarantee if you take notes during your singing lessons and review them your singing will get better.
- Keeping A To Do List Will Save You TimeThis by for is one of my favorite lessons website investing didn’t teach me. I love this lesson so much because even before buying websites where I would have many things to do each day, it would help me organize my life.When keeping my own little To-Do-List it would allow me to have far more free time to do the things I wanted most, like surfing, going out and hanging with my friends.The reason keeping a ‘To-Do-List’ can allow you to have more time is it keeps you highly productive and saves you time thinking about what you need to do next. Once you have completed as task, because the next task is already written down on your to do list you know what you need to do next.The second reason it saves you time is because when setting your ‘To-Do-List’ it helps you to prioritize things. For example, separate work time, to house chore time and even free time that you can spend with yourself or your family and friends.
- The More Your Learn The More You Earn
I wish I could claim this one as my own although it is a quote from the famous Warren Buffet, “the more you learn the more you earn”. Which is something he can vouch for being one of the richest men in the world because he actually reads 8 hours every-single-day! Now that is A LOT of learning don’t you think?Warren Buffet is an absolute knowledge freak, and how can you not take a leaf out of his book if you want to be somewhat successful in anything in life?This is the most important of the lessons website investing never taught me because it is what lead me to getting hungrier for knowledge. This very lesson lead me to becoming a knowledge junkie myself where just by doing so, it taught me how to live a more fulfilling life and not just financially (which is great sure). I learnt how to create a financially free life, with time and location independence that opens up far more doors for me than I ever knew even existed in my old life as a plumber.
Do you have any life lessons website investing didn’t teach you though has aided in your success not just in life but as a website investor too?