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Too Many Options
The creator economy is booming and more people than ever are turning to content creation as a source of income. But what happens when there are too many options?
- With so many options to choose from, people find it very difficult to choose at all.
- There are just so many ways to make money online, through online media sites, platforms like Youtube and Instagram, blogs, newsletters, corporate clients, and more.
- Each opportunity comes with trade-offs: barriers to entry, difficulty, potential income, consistency, and preference. These trade-offs are all different for different people.
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216 reads
The Opportunity Cost Of Choice
The problem is that with so many options, it’s difficult to choose one that works for you. Moreover, once you start struggling on your journey to become a YouTuber or start a successful newsletter, it can be tempting to jump ship and dip your toes into another stream of income. Instead of putting all of your energy into building a successful business, you end up spending most of your time wondering whether you made the right decision.
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Opportunity costs subtract from the satisfaction that we get out of what we choose, even when what we choose is terrific. The more options there are to consider, the more attractive features of these options are going to be reflected by us as opportunity costs
BARRY SCHWARTZ
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How to Overcome the Paradox of Choice: Plan
Take some time to weigh and measure your options. Decide, based on your skill set, preferences, and practical information like barriers to entry, potential income ceilings, which kinds of work suit you best, and — this is really important, especially when it comes to writing — whether that type of work will make it easier to pursue other projects down the line. Then, prioritize your direction on that basis. You can always change your mind, but the most important thing is to make a choice.
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Follow Through
Persistence is key.
Everyone from YouTuber Ali Abdaal, who made 4.7 million dollars last year after 7 years of building his content creation business, or Nobel Prize winner Toni Morrison, who didn’t publish her first novel until she was 39, says the same thing: to be successful, you’ve got to stick with it. Not for a few weeks, not for a few months, but for years, maybe even decades.
Once you choose which path you’re going to take, commit to it for as long as it takes
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Seek Help and Believe in Yourself
This is closely tied to number two. The only way to achieve your goals is through persistence and the only way to persist is through self-belief. You must believe that you can do what you set out to, against all odds.
Writers are subject to so much imposter syndrome. Anyone can call themselves a writer, and no one really knows what a solid career is supposed to look like, so who’s to say your work is legitimate, especially when you’re just starting out.
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