Building a business online vs the fast life
“Slow money builds character Fast money builds ego.”
There’s a misconception about building a business online, especially amongst people that don’t understand the internet or those that work 100% in a 9-5 - it all seems like a quest for a fast life.
If not, how would you explain sitting in front of your laptop, working with little or no physical staff, and printing money?
Your mama constantly questions the legality of your business each time she sees you make moves.
In my experience, building a business online takes the same effort and work it takes to build a business offline, if not more. Without discipline, hardwork and persistence you won’t go far.
To succeed in online business, it's crucial to embrace change and innovation and to stay ahead of the curve. The advantage is that if your idea works, the timeline it takes to go from average to great can be really short. In other words, there’s high chances of scaling exponentially as well as failing to zero.
The young ones are no different in this misconception. In fact, very few actually want to build a real business online; most are only attracted to the perks they’ve associated with online business.
Young kids look up to people that can drive the latest cars yet work so little; at least this is what making money online has been portrayed to be.
I once saw a quote that counters this notion:
“Slow money builds character
Fast money builds ego.”
Which means if the society keeps raising more mindsets of “fast money,” we’ll be having a society full of ego and zero character.
Is the alternative better—we all go back to our offices and physical stores and leave the internet entirely for entertainment?
The fact is, it’s not just the fact that it’s not possible, but this idea is backward. Why? Because each major source online providing value, whether entertainment or education, would still make money.
The internet is the future.
Getting rewarded is simply a result of giving value.
By focusing on building a solid foundation, providing value to customers, and maintaining a strong work ethic, entrepreneurs can create a business that will stand the test of time.
The internet has made access to the value anyone can provide faster and so much easier.
How then can you still make money online and yet build a life of character and less ego?
It takes intention. It takes a daily ritual of discipline and character.
1. Get clear on your why
In fact, when you feel the most empty, it is most likely you have slipped from your why.
And that is why “more money” cannot fix this problem. It in fact exposes it the more and makes you feel weak despite making financial progress.
2. Mindset Shift
One of my clients I was trying to upsell on a copywriting program first asked if she could pay in installments. After I agreed, she then asked how long she could start earning immediately after enrolling in the program.
Then I realized she was coming with a get-rich-quick mindset in acquiring skills.
The culture of 'fast money' in online business can lead to a focus on short-term gains and unsustainable growth.
I had to caution her to shift her mindset to focus on building wealth slowly and steadily so she can create a business that is built to last.
This approach requires patience, perseverance, and a long-term vision, but the rewards are worth it in the end.
3. Financial freedom >>> status
My intention is clear: I want financial freedom. And the internet is just a medium to achieve that in a smarter way. Financial freedom for me isn’t about the money.
It’s about options. I can choose how I spend my time without worrying about the cost. And for me, that’s true wealth.
Some people shy away from the internet because they’re afraid of taking risks, and that’s why they’re broke. Yet the same people use different social media to post pictures and consume other people's stuff.
Separate yourself from such broke mindset. They told themselves years ago that there was no money out there, and that actually became their reality.
4. Take massive action
There’s a high chance of becoming complacent when building your own business, especially if you’ve made a bit of success.
I’ve been there; until I got into real estate, I discovered that there’s levels to this game.
You should constantly be learning, working on your business, and diversifying your wealth.
Add up complementary skills. For example, if you’re great at writing, consider public speaking. If you’ve amassed a bunch of wealth from a job or one business revenue – consider going into real estate.
There’s always something bigger to venture into.
5. Avoid cheap Dopamine
Working online is not license to spend valuable time looking for cheap dopamine like porn and addictions like betting and consuming social media all day.
Great men are busy growing businesses, building their families and advancing their career
Quit porn, playing bet always, endless scrolling, and focus on what's best for your life.
6. The Importance of Integrity in My Online Business Journey
I own an e-commerce store, and I’ve not met with over 99% of my customers.
I quickly learned that one of the most formidable hurdles was not just about marketing or sales but about earning the trust of customers I'd never meet in person.
Integrity isn't just a strategy; it's a way of life for my business. It's what I believe in, and it's what my customers respect.
Customers want you to take integrity as a personal commitment. If you say a product will be delivered in three days, you make sure it happens. If there's a delay, you communicate proactively.
Your contact details should be working and up on the website, including email and support phone number.
My customers aren't just transactions; they're part of my business family.
7. Don’t neglect your Physical health
I’ve once been a victim of neglecting physical health.
It just doesn’t just apply to building online. If you eat junk food daily, sit indoors all day, and don’t get physically active, you’re going to be sick first in your mind and then physically next.
Catch ya next time my friends. Let me know in the comments your thoughts on building a business online.
PS: One or two years from now, how would you like to see yourself? I wrote a short book that you might find interesting titled "Be Kind to your future self” .