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Money Lessons I Learned Running an Online Business

I recently decided to try my hand at online news reporting. I had absolutely no idea what I was doing. In fact, I still don’t. But through the entire experience of trying to make a profit, I learned some extremely valuable lessons.

1. Ideas are Worthless Without Implementation.

Ideas aren’t worth anything unless you’re willing to diligently implement them. Sure, an idea can sound really cool and make you excited, but unless you’re willing to put in the necessary work to execute those ideas, you’re just wasting your time.

2. Time is Money.

Don’t spend too much time on frivolous projects if you can help it. If you’re serious about making money, you’ll spend your time doing things that generate income. Sure, this may sound basic, but it’s the basics that people are most likely to ignore.

3. Sometimes Saying No is Good.

When learning to manage your projects, it’s important to realize that saying no is sometimes a good thing. You only have one life, and there’s only so much that’s humanly possible to accomplish. Choose your projects wisely and have the guts to say no when those projects aren’t benefiting you as much as they should. This is just basic management.

These ideas are hardly new or shocking. They’re basic, elementary principles that maximize performance and help generate more revenue. After all, that’s the point of having a business – to make money as efficiently as possible.

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