Heads up! This email may contain affiliate links. Hey, Dylan here. Hope you had a good time over the holidays! I decided to take Christmas off for the newsletter, but I'm back at it now and feeling refreshed. By the time you're reading this, it'll be 2022 😱 Happy New Year! I hope you've enjoyed seeing this newsletter in your inbox each week. If it's helped you put some extra money in your pocket, let me know. If it hasn't, let me know how I can do better in 2022. Keep crushing it this year. “Year's end is neither an end nor a beginning but a going on.” - Hal Borland Today:
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MAKE MONEY Extra Income 💵How much money can you make as an Appen Contributor?Appen is a large publicly listed data company that hires freelancers from around the world to participate in long-term and short-term projects related to search evaluation, data annotation, web research, and much more. Some key stats:
All in all, if you're looking for some extra online income, it's worth looking into further. Check out the full review here to learn more. Business Ideas and Stories 💼$322-$2,000 MRR in 60 days by building in public.This is the awesome story behind Magic Sidebar, a browser extension for Twitter. In the beginning, the extension simply provided automated profile "decorations" on Twitter. It was doing around $322 in monthly recurring revenue, but with some extra development and features, the founder grew it into $2k MRR in just 60 days. A few things I can spot that went into this:
The founder admitted to having some unfair advantages as well: For example, he had already built an audience of 14k Twitter followers, his base extension already had users, and he's a coding veteran with 13 years of experience under his belt. So what can we learn from this? A few things:
Making $27k in 8 months selling Notion templatesSpeaking of building products based on another product AND building in public, this story is another perfect example. Easlo went from no audience and $0 earned online to 18k+ Twitter followers and $27,000 in revenue in just 8 months. All from selling Notion.so templates. Crazy, right? So how'd he do it? Well, similar to the last story, he found most of his growth on Twitter. Twitter is an insanely good place to connect with niche communities, learn from others, and promote products (if you do it right). The way Easlo started out was by giving away free templates. Then he launched a newsletter to find and stay in touch with his true fans and to bring more value to the Notion community. And the way he's figured out how to do all of these things? Well, he mentions in a Twitter thread that "the best way to learn is to copy from the best, then derive your own path." Couldn't have said it better myself. Now, Easlo has a Notion course that teaches others how to create their own layouts and templates, and I'm sure his income will continue going up from here. Tips and Tricks 💡Phrases to avoid when asking for a raise.Here's an interesting list of 5 phrases to consider if you're planning to ask for a raise this year. Subtle changes can make a big difference. Get two annual Skillshare subscriptions for the price of one.If you're itching to learn something new and can convince a friend or family member to go in with you, you can split the costs and save. Learn more here.
MANAGE MONEY Tips and Tricks 💡New Year financial to-dos.Here are some things you can do this weekend to prep your finances for 2022:
Money lessons and regrets from Canadian business leaders.A lot of great tips and insights in this article. Here are two of my favorites: “Money is about freedom, not consumption. You need much less money to be free than you do to engage in a lifetime of conspicuous consumption, which no one can make enough money to keep up with anyway. It's a bit of a losing game, and you become enslaved to it.” “I would say there are three key habits: pay yourself first, automating good behaviours, and of course, avoiding debt.” And here's an interesting one on regret: "I've always been very disciplined about saving, so my biggest regrets are probably the times I chose not to spend. For instance, foregoing a trip I could afford because I hesitated to spend the money. I'm not advocating for a "you only live once" approach to spending, but it's important to remember that money is just a tool. If you're not using what you can afford to spend on the people you care about, experiences you want to have, or causes you care about, what's the point?" "Would I purchase this if no one else ever saw it?"From Twitter, a simple question to ask yourself before buying something. Can help you avoid buying things just to impress people, aka trying to "keep up with the Joneses." As an example, if you're in the market for a new car, you might be looking at something out of your actual price-range just because you think it'll make you look cooler. Asking yourself the question above beforehand can help you avoid that mistake. Money History 📜Speaking of keeping up with the Joneses...the origin.I read an interesting article this week titled "How This All Happened". It essentially summarizes the evolution of the US economy since the end of World War II. I recommend reading the entire thing if you're interested, but a quote that stood out to me (and that relates to the money tip above) is this: “A culture of equality and Togetherness that came out of the 1950s-1970s innocently morphs into a Keeping Up With The Joneses effect.” Because most Americans back in the 50s-70s had pretty similar lives, spending more to "keep up with the Joneses" wasn't really a common thing. Nowadays though, with income inequality and social media opening the curtains to the crazy and luxurious lives of the rich, it's easy to feel the need to keep up. Income and lifestyles can even drastically differ between neighbors. The point is, again, don't buy stuff just to impress or "fit in."
MULTIPLY MONEY Market Summaries ⚡📈 Stocks
As you can see from the "YTD" column on the chart above, the stock market had a good year in 2021. In fact, it was the sixth-best year for U.S. equities since 1990, as well as one of the few years without a pullback larger than 5% (EJ). Other headlines: 🔮 Crypto
Price data as of 2:45PM PST Crypto prices continued to slide this week, with total the total crypto market cap falling from ~$2.7 trillion on December 1st to ~2.2 trillion on December 31st. Still, as seen from the chart above, YTD gains for BTC and ETH dwarf the YTD gains for the stock indexes above. Other headlines:
Tips and Tricks 💡What will happen in the markets in 2022?Nobody knows, and you should be skeptical of those who say otherwise. “There is no proven, market-predicting model hidden in a computer that only a few people have access to.” - Carl Richards Reading List 📖Why it’s too early to get excited about Web3.A great read from someone who defined Web 2.0 when it was still in its infancy. Although it's unclear how the whole "Web3" movement is going to evolve, this may spark some ideas on what to expect.
Hope you enjoyed this week's letter! Which part was your favorite? What do you want to see more or less of? Hit reply and let me know! Enjoy the rest of your weekend! - Dylan How'd you like today's newsletter?
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