Stop the following if you want to make money.

[Axis]

• Stop procrastinating and start taking action.
• Stop being afraid of failure and take risks.
• Stop making excuses and take responsibility for your actions.
• Stop being content with being comfortable and strive for growth.
• Stop being afraid to negotiate for higher pay or better opportunities.
• Stop being complacent and continuously learn and improve your skills.
• Stop being afraid to ask for help or advice from others.
• Stop limiting yourself and think big.
• Stop making unnecessary purchases and save or invest your money.
• Stop allowing fear to hold you back and take control of your financial future.
• Stop relying on a single source of income and diversify your income streams.
• Stop being afraid to ask for a raise or promotion.
• Stop being afraid to start your own business or side hustle.
• Stop being afraid to invest in yourself and your education.
• Stop being afraid to network and build connections in your industry.
• Stop being afraid to sell yourself and your skills.
• Stop being afraid to set financial goals and make a plan to achieve them.
• Stop being afraid to seek professional financial advice.
• Stop being afraid to challenge the status quo and think outside the box.
• Stop being afraid to embrace change and adapt to new opportunities.
• Stop being afraid to try new things and explore different ways of making money.
• Stop being afraid to pursue your passions and turn them into profitable ventures.
• Stop being afraid to ask for referrals or word-of-mouth recommendations.
• Stop being afraid to leverage technology and use it to your advantage.
• Stop being afraid to take on additional responsibilities and take on new challenges.
• Stop being afraid to collaborate and partner with others to increase your earning potential.
• Stop being afraid to be persistent and keep pushing forward, even when faced with obstacles.
• Stop being afraid to be transparent and honest about your financial situation.
• Stop being afraid to invest in assets that have the potential to appreciate in value, such as property or stocks.

-Stop being afraid to seek out mentorship and guidance from successful individuals in your field.

 

[Min Eduok]

Consider this also.​

Explain the disadvantages of monopolistic competitor


Monopolistic competition is a type of market structure where many firms sell products that are similar but not identical. Some disadvantages of monopolistic competition include:

1. Lack of incentive for firms to lower prices: Since firms have some control over the prices they charge, they may not have an incentive to lower prices to be more competitive.
2. Inefficient allocation of resources: Firms may engage in excessive advertising and other forms of non-productive activities in order to differentiate their products, leading to an inefficient allocation of resources.
3. Limited choices for consumers: While there may be many firms in a monopolistically competitive market, there may still be limited choices for consumers compared to a perfectly competitive market.
4. Unfair competition: Firms may engage in practices such as predatory pricing or creating barriers to entry to limit competition, which can be unfair to new firms trying to enter the market.
5. Reduced Consumer welfare: Monopolistic competition may lead to higher prices and reduced quality of goods and services, which can negatively impact consumer welfare.

1. Lack of incentive for firms to lower prices: In a monopolistically competitive market, firms have some control over the prices they charge, as their products are differentiated from those of their competitors. This means that firms may not have a strong incentive to lower prices to be more competitive, as they can still sell their products at a higher price due to their unique features or branding.
2. Inefficient allocation of resources: Firms in a monopolistically competitive market may engage in excessive advertising and other forms of non-productive activities in order to differentiate their products and attract customers. This can lead to an inefficient allocation of resources, as firms are spending money on activities that do not directly contribute to the production of goods and services.
3. Limited choices for consumers: While there may be many firms in a monopolistically competitive market, there may still be limited choices for consumers compared to a perfectly competitive market. This is because firms are selling products that are similar but not identical, so consumers may not have as many options to choose from.
4. Unfair competition: Firms in a monopolistically competitive market may engage in practices such as predatory pricing or creating barriers to entry to limit competition. This can be unfair to new firms trying to enter the market, as they may not have the resources to compete with established firms.
5. Reduced Consumer welfare: Monopolistic competition may lead to higher prices and reduced quality of goods and services, which can negatively impact consumer welfare. As firms are focused on differentiating their products, they may be less inclined to focus on cost reduction and improving quality, which can result in higher prices for consumers and reduced quality of goods and services.

 

[Abigael]

All those points make so much sense. You need to sacrifice so many things in order to make money. Stopping some things is not bad, it is just the process of success.

You need to start with those things that prevent you from moving out of your comfort zone. It could be distractions such as watching tv, playing games on your phone or going out with friends that is making you to procrastinate.

It also helps a lot to develop a great mindset. Sometimes your own wrong mindset could be stopping you from reaching your biggest potential, it makes you fear asking for a better pay and it prevents you from spending money well and investing.