Summary of my 10 points:
1. If you only want to travel (say SEA) a few times per year, don’t bother starting an online business.
2. The first few months, you won’t make any/little money. Start right away (agressively), or let it be.
3. Online business payoff comes after 6+ months. Then it’s automated with little to no work.
4. Reward = massive freedom (time + location-independence). Downside to deal with is volatility.
5. “quick money” online doesn’t work. If it does, it’s short-lived and not worth your time & effort.
6. You need to go deep = all in when you get started.
7. Online business = a business = more leeway to optimize/reduce taxes.
8. No business is completely safe/stable. Keep this in mind and plan your finances accordingly.
9. Online business = unlimited growth. It’s unlikely that you will 2-3x your salary in a year.
10. Know yourself. If you value stability over freedom, stay with your 9-5 job.
11. Most importantly: Don’t start an online business if you are broke to begin with.
Closes on Friday, November 26th, 12PM EST.