Showing posts with label Tailoring. Show all posts
Showing posts with label Tailoring. Show all posts

Tuesday, December 21, 2010

Finding the Margin

What is the minimum monetary reward you are willing to accept for one posted auction?


This is the single most important question you can answer for yourself on your journey of wealth creation, for it instructs you in a direction that will ultimately be more personally rewarding and you will be more likely to stick with it long enough to actualize that wealth.

My personal minimum is now 30g. That may not make sense to you, and it's not supposed to. That is my margin. You might not believe there is much difference between one auction with a 30g margin and five auctions with a 6g margin that you have automated, but there is a difference well beyond the actual time it takes to post said auctions: motivation, willingness, reward. If you are the type of person who is self-motivated to the point that every copper of profit feels like your birthday, and you can maintain that motivation over the long-term, more power to you; the entire world will be your market.

For the rest of us, we must choose.