At first, I was horrible. I’m not ashamed to admit that. You can look back at my first couple posts, if you need evidence.
I like to think though, I have improved. With practice, my editing became better, I started to have clearer thoughts, and I have a better idea of what people like to read.
The improvement process, wasn’t hard, it just took time. It started with a commitment to write. After that, I started reading books on writing, I’m also lucky enough to have readers offer ideas for improvement. I then test out those ideas.
The process of commitment, learning, implementation, and feedback is how we learn most things. If I wanted to learn something like programming or improve my golf swing, I would go about it the same way as I did writing.
What if instead of writing, programming, or golf, you want to get good at making money. Can you apply the same learning process? In my opinion, of course!
And just like anything else, when you start learning how to do something new, you’re going to be bad at first. But that’s OK. With commitment, learning, implementation, and feedback, you will eventually get good. It’s not necessarily hard, it just takes time.
2 Ways to Practice Making Money
The goal of this post was to create two ways you can practice making money. I only had two requirements to these exercises. First, they must require a small learning curve to begin. Second, each exercise should have a minimal amount of risk.
Exercise # 1 – Buy and Sell the Same Thing on eBay Repeatedly
Go buy something on eBay with a high demand. For example, a GPS device.
Once you get it, immediately sell it. Your goal is to sell it for more than you paid for.
Get a higher price by improving the headline, copy, pictures, ending time, buy it now price, etc… Once you sell the GPS, buy another one. Again, your goal is to sell it for more than you paid for and more than you sold it for previously.
Keep on doing this until you get to a point where you’ve maxed out how much you can make. Then, start buying in lots of 3, 5, or 10 for a discount. Now, resell those GPS devices individually. This business plan is incredibly simple, but it works.
Note: Most of this idea wasn’t my own. It came from an article in Inc. Magazine by Jason Friend.
Exercise # 2 – Publishing Content on eHow
Sites like eHow, let users publish content and share the revenue generated.
Your goal in this exercise is to find out the method to publishing articles that will give you the most reward over 90 days.
For this exercise, you will test out what topic to write about, how to work your headline, how long your body should be, the time it took you to write, and the earnings it received over a 90 day period.
The goal is to maximize the amount of money you make per article per time spent.
If I continue to write everyday for the next two years, I’m excited to think about where I will be. With continued learning, action, and testing, I know I’ll become a better writer.
Where will you be in two years if you practice making money? Every great entrepreneur got started at a young age. At 16 Warren Buffett, was putting pinball machines in local barbershops. Richard Branson was selling records out of the back of his car. It was those days that they learned how to sell, how to price their product, how to negotiate. In other words, they learned how to make money. And after all, isn’t that what business really is?
Photo by: Woodleywonderworks