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Did you ever hear how Warren Buffett – one of the wealthiest people in the world, worth $76 billion last I checked – got started in business?
Mr. Buffett started out doing a bunch of odd jobs as a young fella back in the 1940’s and 50’s, from selling chewing gum to delivering newspapers to cashing in discarded tickets at the race track.
It was all fairly tedious and low-paying work, but he was consistent with it and saved every penny he made.
By the time he was sixteen years old, he’d already earned the equivalent of about $60,000 in today’s money.
He took that small fortune and started investing.
By the time he was thirty years old, back in 1960, he was a millionaire. He became a billionaire in the 1980’s, and today he’s worth about $76 billion dollars.
Here’s a chart via MarketWatch showing how Buffett’s net worth has grown over the years:
As you can see there, he started out earning very little, and ramped it up greatly over time, to the point where he was able to add $12 BILLION to his fortune in 2016 alone!
On a related note…
Here’s a post I came across recently back in a Facebook group for digital nomads:
Basically, it’s someone looking to hire freelance translators for remote work at €9/hour, and, of course, social media being what it is, people start bickering in the comments.
A lady named Christina especially takes offence:
Yes, Christina is not a happy camper, and in fairness, she has a point.
Because yeah, you can’t really live on €9 an hour.
Not in a developed country anyway, unless you become some kind of frugal hermit and spend your evenings clipping coupons.
And yet, unlike Christina, I had no problem whatsoever with that job posting. I even shared it with a bunch of people online.
Now why would I do such a thing? Why would I go around sharing such a JOKE of a job opportunity with good, honest people?
I’ll tell you why.
It’s because I believe €9/hour is a perfectly reasonable rate for good, honest people just starting out building a business, especially for work you can do from anywhere on a flexible schedule.
Sure, €9/hour is not going to earn you much of a living, but, and here’s the key thing:
It’s a start!
If they’d turned their nose up at those low-paying jobs initially they’d never be where they are today.
Much like Warren Buffett wouldn’t be worth $76 billion today if he’d turned his nose up at selling chewing gum and delivering newspapers.
So listen, I know I write a lot about getting off to a fast start with your online business and how there’s no shortage of money to be made – and that’s all true! – but at the same time be sure to keep your feet on the ground and start small.
Speaking of which, here’s a tweet that I love from one of my favorite online entrepreneurs, Ramit Sethi. Someone asked him how to build an 8-figure business and Ramit responded:
To quote Ramit further…
“The uncomfortable truth is that most people would rather dream about running a $5 million business than actually run a $50,000 business (and grow it from there).”
And actually, if you’re just starting out, you probably shouldn’t even be thinking about a $50,000 business yet.
Focus instead on:
- Earning your very first $1 online.
- Then your first $10.
- Then your first $100.
- Then aim to earn $100 every week.
- Then $1000 in a month.
Progress steadily like that, step by step, just like Warren Buffett did, until you’re swimming in your own big pile of money.
And sure, by all means, be skeptical of any €9 job opportunities that come your way, but please DON’T be one of those people who is SO skeptical and SO critical that they never take any action.
Because if you do nothing, nothing is going to change for you.
Don’t wait around for the perfect opportunity. There is no perfect opportunity. If you’re waiting for one, you’re going to be waiting a looooong time.
Take a few $5-10 jobs if it will get your feet wet with online work and build some momentum.
Trust me, doing that, you’ll end up much off than all those critics and naysayers on Facebook.