Entrepreneur, Author, Content Creator with 9M+ followers across platforms. I share this newsletter every Friday around personal growth, books, quotes, pictures - it is the most personal version of me online.
warikoo Wanderings
Welcome to another edition of warikoo Wanderings.
I am trying something new this week. You can share this edition of Wanderings on WhatsApp as well. The link to do so is right at the end of the newsletter. This is a request from a lot of subscribers, who wanted to share it with their friends and family but didn't always have their email addresses handy. Give it a spin, and let me know how it worked. Thanks :)
Let's get started!
WHEN DID YOU MAKE YOUR FIRST MONEY?
Every Monday at 7pm we have our team call. Where we go over the data for the week gone by, discuss initiatives, and troubleshoot problems.
Once that is over, which usually takes about 30 minutes, we ask a question. A question that will be answered by everyone in the team and is an attempt for us to know each other, in the absence of an office and thus the usual banter that happens during work breaks!
This week's question was asked by Mahak - who is a graphic designer in the team, is the youngest and also the newest member. She had a rather interesting question to ask, "When and how did you make your first money?"
Gitanjali, who leads YouTube and this newsletter for the team, had a quick clarification - "Does money earned from relatives during festivals count?"! Lol - smart try Gitanjali. NO!
We all went through this question and it was fascinating to hear the responses of everyone. What was intriguing for me was the ways this money was earned - from selling food to selling tickets to selling their skills to the first salary as the first ever money they earned!
Here is how I earned my first monies.
I was in the 6th class. And back then, WWF (no, not the wildlife foundation - the wrestling one!) was a rage!
And I studied at an all-boy's school. So that was ALL that I heard of everyday.
Undertaker, Hulk Hogan, Yokozuna and what not.
We didn't have cable television until I was in the 11th, so I really didn't have any idea about what it was. Except that it was fighting (and not really wrestling). And that boys our age were addicted!
So one fine day, a classmate of mine gets a sheet of stickers.
10 stickers on each sheet, of 10 different WWF stars (they were called stars!)
And suddenly, he was the cool kid in class.
All the boys, during the class break were swarming around him like bees, going "dikha dikha, dikha naa please" (show me please!)
I couldn't be least interested. But I did have a question for me.
"How much is the sheet for?"
"5 rupees", he replied.
Not sure why, I told him, "Can I buy one sheet from you? I don't have the money today, but I can pay you tomorrow."
He was a good friend, so he graciously gave me the sheet.
I was now the cool kid as well :)
The day ends, we go to our school buses and to extend my showmanship I begin to show off the sticker sheet to my bus-mates as well.
One of them comes up to me and asks, "How much for a sticker?"
"5 rupees", I reply.
He takes out a 50 rupee note and says, "I will take all 10!"
Sorry? What just happened! :)
Did this kid assume that it is 5 rupees per sticker and not per sheet?
Is he that dumb?
Am I that smart?
Can I get that rich!!
The next thing I know I am dreaming of buying new jeans and a new cycle and a car and maybe even a house for my parents. I have struck gold. I now know how to convert 5 rupees into 50, just like that! :)
The next day, I go up to my class mate and tell him that I need 9 more sheets!
He is bewildered, perhaps even worried for me. But he gets the money, so he is happy!
I go back to the bus, and strike gold again. I sell 4 of these sheets.
In 2 days, I had earned 250 rupees. Enough to last a lifetime, at that age!
I have 5 sheets left and the following day I intend to make another 250 bucks and retire at the peak of my career!
That wasn't to be, though.
Remember the first guy who bought the sheet from me?
He comes up to me and goes, "hey, I saw the same stickers being sold for 5 rupees at my local store yesterday. You are paying a lot for your sheet."
That was it, my friends.
The fastest startup to launch and shut down.
That was my first money story :)
MY TOP PURCHASES OF 2020
I wrote about my top purchases of 2020, which ranged from cool tech products to the little joys of life, to a vacation.
You can read it on Twitter, on LinkedIn or check out some of the links directly below
Apple Airpods | Psychology of Money | The boy, the mole, the fox and the horse | Mi Smart Band | Wilson Class 100 Racquet | Rode Lavalier Mic (for my audio) | Logitech iPad Keyboard | Swad Candy (yes yes, wahi bachpan waali swad ki goli!)
BOOK I AM READING THIS WEEK (AT A SPECIAL LOCATION!)
This week instead of picking up a new book, I re-read Atomic Habits by James Clear.
It is, in my opinion, one of the most powerful books in self improvement. Written in a manner that generates confidence (I too can do this), enthusiasm (I want to do this) and joy (I feel good doing this). Very rarely does a book accomplish all of these and in adequate proportion.
If there is just one book you can read ever, this would surely make it to the list.
QUOTES I WISH TO SHARE
Ask, because you deserve it, not because you desire it!
(Share on Twitter)
No change ever happened without realizing that change needs to happen.
(Share on Twitter)
If you are unhappy with where you are in life right now, do not wait to find out what you should be doing.
Move out of where you are in life!
(Share on Twitter)
Those who don’t own their time get owned by the excuse “I don’t have time”
(Share on Twitter)
When you raise money, it is not an achievement. It is an obligation.
(Share on Twitter)
RESULT OF LAST WEEK'S POLLS
Last week I asked all of you
Which one will you pick and why?
70%+ people responded with option 1 as their preferred option. And I will now tell you why that is a lie :)
In real life, if I told you at the interview stage that there is a 50% chance you will lose your job in a year, you will NOT take the job. This has been proven by research and I am sure you will agree will be true for you. It is easy to answer a poll question over email, much harder to live that in real life.
The other mistake people made was to think that the startup will shut down after a year so you would have earned 10L by then and that's okay.
Nope! I said, 50% chance that it shuts down in a year, not after a year!
It could shut down tomorrow. After a month. Or after 12 months!
Humans suck at dealing with uncertainty. We hate it especially if the uncertainty is around a loss. We are far likelier to accept a negative outcome which is definite than accept a potentially worse negative outcome which is uncertain.
For those who are old to this newsletter, remember my question long time back
Would you take Rs. 500 assured or spin the wheel with 50% chance of getting Rs. 1000? (Most people will spin the wheel)
Would you lose Rs. 500 or spin the wheel with 50% chance of losing Rs. 1000? (Most people will take the 500 assured)
We have a massive loss aversion.
The joy we feel from gaining something is far lesser than the pain we feel from losing something.
Remember this, whenever taking decisions!
THIS WEEK'S QUESTION
If it wasn't obvious by now, this week's question is
How and when did you earn your first money?
There is no poll, no right or wrong answer, just my way of getting to know my audience.
To response, simply reply to this email.
I read all my emails.
Mitti ki kasam (takes thumb down on the ground, picks up some mitti with it and applies to forehead!)
If you enjoyed reading this newsletter and wish to share it with on WhatsApp, click on this link.
by Ankur Warikoo
Entrepreneur, Author, Content Creator with 9M+ followers across platforms. I share this newsletter every Friday around personal growth, books, quotes, pictures - it is the most personal version of me online.
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