The fear of missing out has driven many to ruin and waste. A friend proclaims, “I got a great deal trading Forex and Bitcoin,” and you then take out your meager savings and invest in things you don’t understand. Then your hands get burnt…, and then you cry.
This fear of missing out has led many people to start businesses they neither like nor understand. That’s why we see a proliferation of similar businesses around town. You enter a shopping mall and everyone is selling the same clothes, hair pieces, shoes, etc. This mentality of following the herd drowns creativity and independent thinking. If we are all selling the same thing how can we all become rich? We have to think different from the crowd. It’s like a pyramid scheme. Only a small proportion of people in any given trade make most of the money available!
Just because someone else is making loads of cash in the chicken business doesn’t mean you should start a poultry project. We all have different aspirations, strengths, insights, resilience, etc. Maybe that guy can handle the stress of losing 10,000 chicken to some random bird flu! If you load the same stress on yourself you may literally collapse.
So do things within your circle of competence. If you are a mechanic start a garage shop. If you are a lawyer open up a law firm. If you are an Engineer start a construction company. If you are natural at sales enter the trading business. Don’t worry about the people making a fortune rearing goats. There are a million ways to make money. Focus on you! Your fortune is right here within your circle of competence.