Good Sunday 🌞!
I’ve come to really enjoy I’m doing Sunday Beam weekly again, I actually look forward to sharing my thoughts with all of you! This is a great feeling 🙂
This week I only have one thing to say: how do we measure rewards & risks?
First, the story that prompted this thought
I bought this baby shoulder carrier when Avery was born. I love how fun it seems! Click to take a look at the photo first.
But when we sent the photo to grandparents, their first reactions were “This is unsafe! She is scared! Be careful!”
As the father of Avery, I would never put my daughter at risk. This is why we’re practicing at home first to understand the risk. But more importantly, I also see the other side of risk, joy. This can bring more fun to our family outing, Avery might enjoy it very much!
So for me, I see the potential rewards and the calculated risks, so I’m not too worried. Other people don’t see the rewards and only see the uncalculated risks, and they’re worried.
After all, uncertainly creates fear.
Bringing it back to business
Many of us entrepreneurs or entrepreneurs-to-be are scared to start a new project or initiative to grow our businesses. We just don’t know whether it is the right move.
Many people say I come across as strategic in what I do, maybe? Or maybe it is because you’re reading into my mind through this weekly newsletter so it seems more so haha!
Anyway, I want to say I’m scared too! But I try to 1) see through the potential rewards and 2) find ways to lower my risks.
For example, I’ve super clear about the rewards of running an Internet business. I get to serve the Internet citizens worldwide, I get to spend more family time, I get to be anywhere I want, and I get to scale it … this is super super rewarding, no doubt.
On the risk side, I know exactly what I can tolerate and give myself a 2021 goal to reach $5k monthly revenue. If I don’t get there, I’ll figure something out.
And this doesn’t just apply to big picture things. Last week, I launched this Building in Public action pack to help people get kicked called Use Twitter Meaningfully.
Even for a small project like this, I always measure the rewards & risks. Reward is that I can generate a few hundreds every month, the risk is low as it fits into what I do & what my audience needs & it is a small project.
What is your main point, Kevon?
I think fear and anxiety can take up a lot of our time. They’re distractions when we use our precious brain juice for them.
So by knowing rewards & risk, we gain clarity and put fear and anxiety away.
Then we can focus on doing what we have to do and repeating small experiments: get more things out, learn faster, and something will stick for sure.
No entrepreneurs can predict the future, but successful entrepreneurs take the right bets.
🌦 My July retrospective & income report is out
Yes, in July I was feeling uncertain and anxious! It’s my first month reaching $2k monthly revenue (a big milestone) but I also had some big learnings.
👉👉 Read the full: Kevon’s July Retrospective
💡 Inspirations
Alex Llull’s story growing from 5k to 10k followers
Do you have too many newsletters? Time to unsubscribe? Janel’s criteria of having to learn something new in every newsletter makes me panic here at Sunday Beam 😖!