home based business
29Mar

Home Based Business: From $2 To $2000 And Eventually $20.000

Almost every day I get e-mails of people telling me that they want to make a living online.

Everybody wants financial wealth.

Especially when this wealth is combined with the utmost freedom and independence that comes from running a home based business.

A home based business offers several advantages to starting a real, brick & mortar business. Let alone working at a cog-job.

Starting a home based business is the best way to enter the world of entrepreneurship in a smoother, less-risky and overwhelming way.

Yet, why do so many people attempt to make a living online and fail miserably?

As someone who has succeeded in running a home based business, I can pretty much understand what they do wrong.

And I am going to tell you, so you don’t have to make the same tragic mistakes.

Why Most Home Based Businesses Fail Miserably (And How To Make Yours Succeed!)

Almost every day, I hear things like:

“Damian,  I want to make a living online like you do. I want to leave my job, be my own boss and make $2000 a month working from home.”

Okay, I say.

Have you ever made $5 on the internet?

99% of people admit that the answer is “no”.

Then how are you going to make $2000 or $20.000 (whatever your income goal is), when you have never made even $5?

When I started as an entrepreneur, my goal was only to make an extra $300 on the side.

Back then, I was living off the $200 my parents were giving me each month.

I thought that making $300 would 1) help me live a little more comfortably 2) relieve my parents from this burden.

It started as a side gig, but soon expanded into a real, internet based business.

I have never thought I could make thousands upon thousands of dollars from my computer at only 20 years of age.

Money that I couldn’t even touch if I had my college degree in Chemical Engineering + Post Graduate Studies!!

I would think about doctors and lawyers making $4000 a month and think that these guys must be really rich.

Well, I now believe that $4000 a month are pennies, but let’s leave this story for another article.

Take out your notepad and grab a pen.

Start taking notes because what I am going to tell you today is going to change your financial life.

2 Essential Steps To Go From Broke To Wealthy Running A Home Based Business

home based business

The reason that people aren’t able to quit their jobs and make a shit-load of money as entrepreneurs (web or not) is because they try to take big leaps forward.

You hear self-help gurus and motivational speakers telling you that you should aim for the sky.

Which is indeed right, but it’s not the whole truth.

You can’t aim for the sky if you have never aimed for the ceiling.

Here is what Charlie Munger, the billionaire suggests:

[su_quote] Step by step you get ahead, but not necessarily in fast spurts. But you build discipline by preparing for fast spurts. Slug it out one inch at a time, day by day, and at the end of the day – if you live long enough – you will get out of life what you deserve. [/su_quote]

Big leaps forward are risky and increase your chance of failure. It’s easier to quit when you try to accomplish too much.

The goal seems colossal and you feel so small and powerless.

Fast spurts and big leaps forward are not the way to succeed. Whether you run a home based business or try to make  your way up the corporate ladder.

Step 1: No Fast Spurts

As Charlie Munger suggests, you have to slug it out one inch at a time – day by day.

This means:

  1. Small baby steps towards a goal.
  2. Consistent effort.

There is no other way around it.

You will fail in business and life if you 1) try to achieve a colossal goal 2) or if you don’t put in consistent effort.

Let’s say you want to lose weight. You decide to drop 30 pounds of fat as fast as possible.

But you have never lost even 3 pounds of fat.

Trying to lose 30 pounds right away is hard if you have never done it before. The goal is too big for you and you will probably fail if you do that.

Or, you might follow a diet for a month.

But, the next month you start eating candies and biscuits. In the end, you get all the weight back because you weren’t consistent.

Then, you diet again. And this vicious circle never ends!

That’s how ignorant, average and unsuccessful people really live their lives.

Then, they complain that “life is hard”. It’s not. You just make it harder than it should be.

Do what I did to grow my business, which is what Charlie Munger recommends:

Go ahead, step by step.

HOW can you possibly make $2000 from your computer, sitting on your sofa and drinking your morning coffee if you have never made even $2 online?

Set a goal to make the first 2 damned bucks.

Oh, that’s not enough to quit your job right now. Of course, it’s not dummy. If it were, then nobody would be working at a cog-job he hates.

Everybody would happily run his home-based business from any place in the world he desired.

Everybody would be able to wake up anytime he wanted in the morning, without the dread of the alarm clock shouting: “Get up you have to go to work!”

Even if $2 not enough to quit your job instantly, it’s enough to start rewiring your brain.

Have you ever tried to make just $2?

That’s ALL you need.

If you make $2 online, then a) your mind starts believing that it’s possible and b) you discover a formula that can be escalated. Then you keep doing the same thing and make $20.

Shit, it’s not enough yet.

Again, you keep escalating it and then you make $200. It’s still not enough!!!

But, trust me, if you are able to make $200 online, you will soon be able to make the $2000 you want to quit your job.

And you will also be able to make $20.000 pretty soon, being able to not only quit the cog-job you hate – but living a life of wealth and freedom that a few people can live.

(20k monthly income and you are in the top 10% earners of the world)

Remember what Munger said:

Step by step you get ahead, but not necessarily in fast spurts.

It works like a miracle whether you run a home based business or if you want to be a Hollywood Start or pro athlete.

Step 2: Momentum

And this brings us to the 2nd and key step.

First, you have to slug it out one inch at a time, day by day.

Do you know why you do that?

Because that’s what creates momentum.

When you make $2, you see how easy it is to make money online and then you keep it up and make $20, $200 and then $2000. Then, this momentum pushes you towards $20.000 and beyond.

That’s why I believe Fiverr is the best way to start making money online.

It’s ridiculously easy to get an order and make your first $4. Soon enough, you create winning momentum that changes your life.

Michael is only one of the several guys who listened to me, started a Fiverr business and now make pretty good money off it.

Hash and Caleb are another two. (Note: Those of you who started to kick ass on Fiverr or business in general, send me an e-mail and let me know about it!)

Caleb even told me he is now in the process of outsourcing his work, which will probably skyrocket his earnings to 5k+ a month.

But it all comes down to a) starting small and b) achieving multiple small wins.

Each win pushes you forward to win another time. Before you realize it, you put your hands in your pocket and grab the money, instead of your pants’ fabric.

When I started as an entrepreneur, I only started trying to make an extra $300 on the side.

When I saw how simple it were to make $300 – I tried to make $1000.

Then $4000, $10.000 and so on.

I didn’t say: “Oh, I will do this right now and instantly make $20.000 a month”.

That’s the stupidest thing in the world.

The people who believe that you are not an entrepreneur if you make only $300 extra a month are even more stupid.

“Oh, it’s just $300 – no big deal. My employer pays me more. Yet, I have to wake up every morning at 7 am, drive to work for 1 hour and spend half of my day doing something I despise. But, making just $300? No thanks!”

Great buddy, keep slaving away at your stupid job.

I will definitely send you a post-card from Italy and UK that I will be having a vacation during the next months – while working from my computer.

I had the perseverance to start small and be consistent with my businesses.

And it paid off.

Listen, it takes momentum to reach your desired level of success.

Step by step you get ahead, but not necessarily in fast spurts.

If you want to build a billion dollar business, you have to first build a million dollar business.

If you want to get down to 9% body fat, and look chiseled, you have to first lose 2 kg and not take it back.

If you want to win the world chess championship, you have to first win a smaller, local tournament.

You build your way up, step by step.

Each step creates momentum to take another. Soon enough, you are running while everyone else is simply walking.

It doesn’t take a lot of time before you’ve reached the finish line where you can enjoy the utmost wealth and freedom.

Let others suck someone’s cock, beg for a paycheck and pray to not get fired when the economy goes lame.

By then, your momentum is untouchable.

Keep daring and conquering.

Until Next Time Conquerors,

Damian Pros

Leave A Comment

COMMENT (41)
Michael / March 29, 2016

Brilliant article Damian.

My first month working online was a struggle and I didn’t make much (But I did make something), and that’s when I knew it’s possible.

I was so excited with my small amount and quite proudly told my friends I made some money online.

They laughed when they found out how little it was and said I was wasting my time.

Now, I’m making more than them, and working less hours. When they hear how long it took me to get to the level where I’m at now, they say it takes too long, and they don’t have the time, they want it now.

I always laugh when I hear that statement, “Want it Now!!”, it’s impossible, everything takes time to build up.

Oh well. Their loss.

You’re right Damian, to make it online, start small and persevere.

I might not be rich (yet) but I have more time to do whatever I want, and I like that.

Thank you for all your help and assistance Damian, without your help, I wouldn’t be where I am today and I would still be stuck in my day Job.

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Damian Pros / March 30, 2016

That’s dejavu Michael. Same stuff over here. Most people I know are willing to waste their life in cog-jobs and get paid nothing instead of thinking for the long-term and then get everything.

I am glad I could help Michael. I am proud of what you have achieved till now. Keep doing what you are doing. Let your friends keep their day jobs and enjoy your freedom!

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Michael / March 30, 2016

I’m trying my best to enjoy my newly acquired freedom Damian, but I found myself to get bored very fast.

I recently read the 4 Hour Workweek, and Tim has this chapter about “Filling the Void”.

I tried filling the void with passions of mine, but soon I felt bored with those too. I’m not sure if you have experienced this as well?

Most of my friends are busy during the day with Jobs, so end up feeling lonely as well. (And working online you don’t really get human interaction with other people.)

Do you have any recommendations for meeting people with free time, or what to do next?

One thing is for sure though, I will rather feel bored with all the time in the world, than sit in a dead end job, fantasizing about being free.

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Damian Pros / March 30, 2016

Hard recommendation: find new friends who share similar interests.

Harder recommendation: if you don’t know any person like that where you live, here is an even better option. Find a rich businessman (millionaire and above). Ask him to work by his side for free. You will learn lots of new stuff, network with tons of interesting people and there will be no boredom.

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Mariano / March 30, 2016

I know you asked Damian but let me hop in here:

Michael, at the moment I’m working 4hs a day from Monday to Friday, sometimes but not often I do more work because RIGHT NOW I have some clients but my main “job” would be that of 4hs (I have to commute and all of that, is not working from home).

However, that leaves me A LOT of free time during the day, and like Damian said you should try activities that you like WITH PEOPLE.

Have you thought about doing salsa dance? I did, and it’s super fun and great, and you meet tons of cool people.

Have you thought about acting? The same thing, lots of cool people.

Have you thought about boxing? You will meet mainly guys.

I don’t know man, if you have no idea then you should actually go out there and start TRYING new hobbies, so you can see WHAT DO YOU LIKE.

I’m confused that you say working on your passions leaves you bored, I mean, whenever I do something I really love I almost never get tired…

However, it could be that you are lacking some bonding.

Think about what I said.

Best of luck!

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Nate / March 29, 2016

You’re speaking the truth here, Damian! I still have the screenshot of my first online income – $4.50. That was all it took to let me know it was possible to live differently and support myself. I don’t tell you this often enough, but you’re doing great things here – keep up the awesome work!

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Damian Pros / March 30, 2016

hehe, $4.50 seems like nothing to most people – but we know that this is the foundation for getting much more. The formula remains the same.

Thanks for the praise!

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Bobby Liu / March 29, 2016

Thank you for this fantastic post Damian. I am enjoying applying these 2 steps into my life. You have changed my life by introducing me to Fiverr. 🙂

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Damian Pros / March 30, 2016

I am really glad for that Bobby. Please let me know if I can help you even more!

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Thomas Quinn / March 29, 2016

Damian,

Just made my first 8 bucks on Fiverr.

I’ve had your book since Christmas, but I never stayed consistent with a daily effort ’til these past few weeks.

After just two weeks of daily effort, already made my first money online.

I wish I would have listened to Munger sooner. But it’s better late than never.

Thanks for the kickass books and articles.

– Thomas Quinn

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Damian Pros / March 30, 2016

Cheers mate!

That’s just your beginning. $8 will soon turn to $80, $8000…and so on. Just be consistent.

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Bobby Liu / March 30, 2016

Hey Damian, do you have any ideas for 5 minute Fiverr gigs? I read in your book, Conquering Fiverr, that I should only spend 5 minutes per gig. Thank you and EPIC FREAKING post man!!!

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Damian Pros / March 30, 2016

That’s not an absolute fact. The way you should think is that you should be getting paid about $5 for 5 minutes of work which leads to an hourly rate of $48 after Fiverr’s cut.

That’s $5460 a month with 4 hours of work a day. Of course, there are other factors coming in, but that’s a solid hourly rate to make pretty good money (in the beginning).

To answer your question, I do not have any 5 minute gig ideas. You can easily go to Fiverr, research and discover some.

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Mariano / March 30, 2016

Bobby,

Instead of looking for “5 minute gigs”, try to adopt the Mindset of “What service can I do for my clients? What kind of work I excel at?”.

After you do that, you can start thinking in terms of hourly rates and so.

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Damian Pros / March 30, 2016

Good point.

First quality, then time efficiency. Both are important though.

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Bobby Liu / March 31, 2016

Thank you for replying Mariano and Damian. Your guy’s answers were simply amazing. It really helped!

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Michael / March 30, 2016

You know what Bobby. When I first started out on Fiverr, I was an absolute newbie. I didn’t have any transferable skills when I first began. (I used to help build patios and decks before I started).

It used to take me an hour to two hours to do a basic $5 gig. I had to google How-To’s to do the service I provided, but I still tried to do my best. (Although looking back now it’s nowhere near the quality I provide today)

But you know what happened? It got streamlined. I got used to doing the work I did and it got easier and easier as time went on.

Soon it took me only 40 minutes, and later 25 minutes. And now, for that exact same service that used to take me 2 Hours to complete, it only takes me about 15-20 minutes for a $5 gig, and that amount get’s way more with extras.

If it takes you 2 hours to do a $5 gig, you still make $5 online, and that’s the point.

As soon as you know you can make $5 online, you will get the confidence that you can make way more.

And with more work and more practice, you will be able to do the same task in much less time.

I think the one major point Damian left out, is to start taking ACTION. Without action you won’t get anywhere. Just start doing something, and start failing. If something doesn’t work, move over to the next thing.

Stop trying to over analyze everything and trying to get the perfect gig. (In this case, the perfect gig to deliver in 5 minutes)

In your first month you are most likely to make very little, and you will work incredibly hard for it. It’s the ugly truth of working online. But in the end it’s worth it.

If you find some earlier comments I made on Damian’s Fiverr articles, you will see I used to work well in to the early hours of the morning, and then rising before the sun came up to work some more. Those were hard times, but I built up my reputation. Now, I have much more free time.

Was it worth it? Hell yes!! And I will do it a million times over.

But you have to go through that tough period.

The main thing I’m trying to tell you, is to start taking action. Do a gig, even if takes you 2 hours, you will still make money online, and that’s the first step to making more and doing less (as you get better).

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Bobby Liu / March 31, 2016

Hi, Michael. Thanks for such an awesome reply. Your advice worked! I woke up this morning with another 2 sales! Awesome stuff man!

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Mariano / March 30, 2016

Nice post Damian.

Things take time and the best thing we can do when starting with this is putting DOABLE goals.
For example:

First month -> $100
Second month -> $200
Third month -> $350

Or something like that, but there’s also the possibility that you end up making even more money than that. But always start small, and raise the bar each month.

In my case, I’m going to start working ENTIRELY on my own in just a few days, but transitioning to this took me ~3 years (I’m a programmer).

I have yet to put my Fiverr gigs, but this last month I was mad busy with extra work that appeared from nowhere from my clients. But I really want to see how will Fiverr work for me.

I hope to have some news in May and get back to you, after all, your book is great and I want to put my testimony.

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Damian Pros / March 30, 2016

If you have 3 years of experience in programming, you will easily start making money on Fiverr. Let me know how it goes!

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Mike Live Like A Wolf / March 31, 2016

Great article Damian! Thanks!

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Damian Pros / March 31, 2016

You are welcome Mike.

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Taavi / March 31, 2016

Hey, Damian. I recently made my first Fiverr sale thanks to you.

One night, after reading your Fiverr book, I set up 2 gigs exactly according to your instructions and went to sleep.

I offered article writing because I don’t have any seriously in-demand skills.

The following day I got one serious inquiry. I told him I’ll do the job and he ordered the gig 20 minutes later. Even though I didn’t know anything about the topic and it was something I wasn’t even remotely interested in. I just wanted to get the ball rolling.

I kept him updated on the writing progress, used words like “please” and “thank you” often, and delivered on time. I got a 5-star review where he said that he wished all his other Fiverr experiences were like that too.

So, clearly your advice is money, Damian 🙂

But here’s the not so fun part. It took me around 6-7 hours to complete the article if I include all the time spent on research and proofreading.

It was a bittersweet experience. I now had proof that I could make money from this, but my ROI was so bad that even Chinese factory slaves would laugh. I’m quite a slow writer, it turns out.

I remember you said in your book that article writing was one of your first gigs as well. And seems like you still managed to earn a very impressive amount on your first month.

I’m just curious how was the start for you. Were you a fast writer? Or did you use WordAI?

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Damian Pros / March 31, 2016

Congrats for that first sale Taavi! It really took you lots of time to complete the article, but hey, remember: step by step.

When I wrote articles, it took me 20-45 minutes for 500-600 words of content. I have been writing about 2000 words a day for a few months before I started selling on Fiverr and all that practice paid off.

If writing articles isn’t your forte, then sit down and learn a new skill. There is no way around it.

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Taavi / March 31, 2016

Ah, I see. I guess writing 2000 words daily makes a big difference. I didn’t have that kind of track record.

Yeah, my backup plan is to learn Photoshop. That’s another idea I got from you.

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Damian Pros / March 31, 2016

That’s an evergreen skill. You can use it in multiple industries/jobs/situations – not just on Fiverr. Go for it. It’ a great skill to have.

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Roland Vojkovský / March 31, 2016

Damian, you rock.

I really admire you because of your no-excuses approach. You are young, from Greece (which is not the richest country in the world, something like my country, Slovakia) and yet you still manage to make a lot of money and hit it hard in the gym.

I have a growing blog in Slovak about blogging (300 email subscribers) and you motivated me to set a goal for April. My goal is to make 300€. It’s peanuts but still far better than 200€ I’m currently making.

PS: I hope we will meet one day 🙂

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Damian Pros / March 31, 2016

Recommendation: I have found it better to set 6 month goals and beyond. 6 months is not a big period of time to get exhausted or disappointed, but long enough to make a difference.

There are many parameters you can’t control in goal setting, especially when it comes to building wealth, and monthly goals tend to show a higher rate of failure.

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Alex / April 2, 2016

Hey Damian, could you write an article about profitable outsourcing?

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Damian Pros / April 3, 2016

What type of outsourcing?

a) Hiring people to work for you?

b) Or hiring freelancers for 1-time-jobs?

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Alex / April 3, 2016

Both I guess :D.

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Timothy Gagnon / April 6, 2016

Killer article!

I’m glad that I found your website, there’s so much gold on here! I have been working online for awhile now but most of my income comes from freelance clients, not much made through my website. It might be because I created and trashed like three websites already! I’m going to stick to the one I’m working on now and I told myself to just get to 100 published posts and see how it goes from there.

In other news, I’m trying to get into affiliate marketing so I took a page out a client’s book, wrote a review for a product, included an affiliate link, and one day later got a sale. It’s only $8.85 but it’s my first affiliate sale ever so it’s a big deal for me! Haven’t made any more since… but I guess it’s just a matter of scaling and writing more.

But yes, like other people mentioned, consistency is the key!

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Damian Pros / April 7, 2016

Making money through a website usually takes more time and hassle than people imagine (like 1-2 years with minimum to non-existent ROI) – even though it really pays off in the end.

Reviewing products you like and personally use is an easy and very interesting way to make money. The more expensive the product you promote, the better. Good luck making *good* money (10k-100k a month) promoting Amazon books. Not going to happen.

Tip: Figure out 2-3 problems you face in your every day life. Search online for products that can solve these problems. See if they have an affiliate program. Buy, see if they work and then write a review about them. You solve your problems and make money at the same time.

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Michael / April 13, 2016

Hi Timothy

I was like you once. I had my fingers in multiple pies. Trying this and that, all at the same time.

I tried affiliate marketing, and importing from China and selling on Amazon, and I even tried blogging.

You know what I have now? A dormant blog, a bunch of useless crap cluttering up my house, and a few useless websites.

Then, one night I got sudden clarity watching Parks and Recreation. Ron Swanson, this total no nonsense guy, said the ultimate thing that completely changed the way I thought.

He said:

“Never half-ass two things. Whole-ass one thing.”

Pretty powerful don’t you think?

I always wondered why other people were successful at the things they are doing, but not me.

Then it dawned on me. I’m not sticking with it long enough, always jumping from the one thing to the next. Or trying to multitask and trying to do everything at once.

When I started my Fiverr endeavour, I decided I’m going to stick with it until it’s successful, no buts. No next thing, no matter how lucrative it seemed.

And you know what? It paid off. (Even though only a few months later)

That’s the secret. Sticking with something until it’s successful.

Sure, it’s hard. But if it wasn’t, everybody would be doing it. But when it pays off, it pays off big.

All the things I’ve tried had the potential to be successful if I stuck with it.

I’m pretty sure you can make a success with your affiliate marketing if you keep at it and set realistic expectations.

Like Damian said, making good money with Amazon Affiliates will be hard as hell.

Currently, the rate for Amazon sits at 4%. To make $10,000, you need to sell $170,000 worth of goods. If it’s a $10 book, well you do the math.

Rather search the third parties directly. Damian currently gives you 70% commission if someone buys his book from you (I’m not an affiliate, yet, but highly recommend it), and Victor Pride at Bold and Determined gives you 75% commission.

The most important thing is to take action and stick with it. (It’s what worked for me)

I hope you are successful in whichever avenue choose.

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Damian Pros / April 13, 2016

Very insightful comment!

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Anonymous / May 10, 2016

This comment gives me hope.

First off, I already bought Damian’s book about Fiverr. A couple days from now I am quitting my full time job and this is one of the very few ways I can make money from. I do have other ways but like the commentator said, full ass one job not half ass multiple jobs. The people at my workplace already think I’m nuts, quitting makes them think I jumped off the deep end!

Believe me it’s scary, but I’ve messaged Damian multiple times and he’s been very helpful. Hoping it all works out at the end. I already have two sales but that isn’t enough to support myself at the moment.

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Damian Pros / May 10, 2016

Buddy,

I wouldn’t recommend quitting your job if you don’t have your expenses covered for the next few months or the 1st year. Usually this includes minimizing your expenses.

Of course, you have already taken the decision to quit. That’s amazing. It takes lots of courage. This will definitely get you ahead in life, but make sure to also be prepared before taking these type of decisions.

Ignore your colleagues completely as well as every other naysayer. Focus on 1 thing, hustle and you will soon be free. You won’t even realize how fast time passed!

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Anonymous / May 11, 2016

Well ahead of you Damian. I already have several months of expenses covered. Not a year, but then again I live in the US and am anticipating a Trump presidency…. There’s also some other trigger events I am waiting on but that won’t be until a couple of months…..

I’ve already sent you an email and people I work with already think I’m pretty crazy but I stand by my positive attitude. I follow the 67 steps program and I used to own a business that failed and I’ve learned from my mistakes.

It will require an act of God for me to fail.

Deaneth Dean / April 11, 2016

Hey Damian , great guide!

I’ve sent you a message regarding purchasing your fiverr book , i dont have paypal so i wanted to send an empty gig on fiverr to you so you automatically have it

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Damian Pros / April 11, 2016

You don’t need PayPal. You could use credit card.

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Deaneth Dean / May 5, 2016

Ahh it’s a little difficult to explain but i am currently in Africa on a gemstone expedition (no troll), so i dont have access to my important belongings right now.

You’ll get your pay soon enough when i go back to Europe 😀

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