Let’s Embrace Risk

As someone who’s looking to make some changes or start a business, risk will always be a factor. Reality wise, risk is present in everything that we do, and I will assume you know this as well. 

There’s risk when you drive your car, when you go to work, when you sit in your living room, there’s risk in literally almost anything that you do. But there are different levels of risks.

That is what I want to talk toy you about, the different levels of risks and how not To take them as deterrents. Instead we should learn how to manage and prevent these risks. Of which I have included just a couple of methods you can use to accept risks.

 

1. Embrace risk

Understand that it’ll forever be there and there’s nothing that you can do to get rid of it. Even if you think you are 100% sure that you have prepared for all situations and thought of every scenario, there’ll always be that chance that something unplanned will happen. But that shouldn’t tell you that you shouldn’t do something. Rather, you should develop a mentality that if a risk becomes present you’ll push your way through and make it work. And this specific action signifies that you’ve accepted and understood everything about risk and no longer will it prevent you from moving forward. 

 

2. Preparation

You should take the time to take in all factors when risk is involved. This is known as risk management. Like I’ve said, risk is in everything that we do, and some risks are more expected than others so the best route to take is to prepare for those risks.

For example, let’s say you are starting a software company, one of the major risks you might have is that your code isn’t working. And to better prepare for a moment like this you should have a procedure in place for correction or a consultant in mind for help. From this you’re able to mitigate that risk from affecting your goals. Therefore, when you’re able to have a plan or procedure for something that is “unplanned for” you decrease the chances of that risk running amok. 

 

3. Asking for Help 

There are people that have gone through what you’re going through and they’ve been able to make it across. They can be considered as a gold source for both information and help to you. And if you are able to, ask these individuals if they’d be willing to offer you their experience and their knowledge. Because having that small amount of knowledge from their own experience will greatly help you in your journey. 

History does repeat itself, and some of the things you are doing right now have been done and tried by others. Asking for help from others will both save you time and help you prevent problems from arising. It can also increase your potential growth since you have now gained new perspectives on that particular problem and sometimes you might even find yourself discovering a breakthrough 

Aside from others, there are other resources out there today, varying from online coaches, to YouTube videos, to online forums and you should take advantage of this information so that you can learn from them and avoid the mistakes that many have already gone through. 

 

4. Experience

Having gone through a situation is super beneficial, as you’ll now know how to respond if it does happen again. Studies have shown that most of how individuals learn is through trial and error. Therefore, if you’re able to plow through one risk you’ll know what to do or what not to do the next time it comes around. Because once you know something doesn’t work you’ll try a different method, and vice versa if you’ve found something that works. But you don’t just have to go off based on what you have experienced but you could also go off based on the experiences of others. And this is an extension of the method mentioned in #3. 

 

5. Keen eye for risk 

Understanding what’ll happen and where the risk may come is a great ability. In a way, it’s like foresight where you can dip into the future and see all the possibilities. Not many people are able to pinpoint weaknesses in there businesses and that greatly increases their risks of failure. But for those that have cultivated this skill and embodied risk they are able to prepare for all if not let possibilities.

One thing that generally hurts start up businesses is the surprises that they get and their inability to work through them. But if you are able to see what’ll come it allows you to better prepare and ensure the float of your business. 

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Let’s Put Fear Behind Us

Fear is a normal emotion. Whether it’s a fear of failure, fear of rejection, or a fear that we’re not enough. Everyone experiences these thoughts and emotions. 

 

It may feel as if we’re locked in a room staring at the wall, vividly watching what might happen based on what we’ve decided. Continuing to add more details to our thoughts, up to the point where we begin to spiral downwards. Once it gets to this point we tend to take the back seat and let life happen for us instead. We let fear win and we give it the reins to control our future in any way it’d see fit. And keep in mind since we no longer have control, we no longer have any say in what our dreams or goals should be. It will decide for us and majority of the time it doesn’t help us get farther in life. 

If you continue to live in fear, you’ll stay stagnant and  I know it’s cliche to say but we do only have one life and we should be able to live it anyway we want to. The world is huge, the possibilities and options are endless. We shouldn’t restrict ourselves to such a small space. I know fear can be really strong sometimes and at times it’s important to listen to it but other times it’s just there to control us. Don’t get me wrong fear is there for a reason but there are different types of fears one that threatens and one that inhibits. 

But, here are things you can do to prevent fear from inhibiting your future;

 1. Find the source 

Create a list and start circling the fears that are tangible. Then start taking control of your fear by creating actions to combat what you’ve circled. 

This’ll help you see that you don’t have to be afraid. That you don’t have to let fear dictate what you do because most of the time you do have the power to take control. By understanding your fear you allow yourself to see that fear is nothing but a pebble in the giant scheme of things. 

 

2. Adopt a growth mindset

You may be having thoughts that you are not good enough, and that you’ll never be capable of achieving such heights. But understand that your skills and life aren’t fixed, rather they’re flexible and all you need to do is make that decision to be better. To take that first step, to take the initiative, to make that purchase, to plan for the future. Once you’re able to understand that you’re flexible and able to grow you’ll see that no matter where you are in life you’ll be able to adapt to situations, make decisions to improve and constantly move forward despite being scared. 

 

3. Live in the present

Most of the time our fears are based on what happened before or what will happen in the future. For example, let’s say you saw another person take the same step you did and it didn’t go well, so you decide, “if that’s what happened to them, then it might happen to me as well”. So then you don’t take that step. That is an inhibiting thought, where you’ve let fear dictate what should and shouldn’t be done. 

 

But that should never be the case. If you’re on a journey to better yourself and achieve levels that you’ve never achieved before, then the things that have happened or might happen should not affect your decision. You have the power to make it different, learn from others and plan accordingly. Understand that what’s going on right now is real. That what you’re thinking will happen is not real or what has happened will not happen again. The present is where changes are made nowhere else. The present is where your choices affect your future.

4.  Stop making excuses

This is a defense mechanism. A strategy on avoiding facing our problems. It’s easier to make excuses and give reasons why we shouldn’t do something. Excuses such as not having enough time, not enough money, not being able to talk right now, and more as just your fears convincing you to turn away. But from what I’ve said above, fear is nothing but your thoughts playing tricks on you and you have the power to say no. 

You can make time, you can move things around in your schedule, you can sell items, you have the power to not make excuses. Understand that when your making that excuse you’re not going to promote change, all you’re doing is hurting yourself. Like I’ve said in a previous post, experience is one of the greatest teachers you’ll ever have. And if you continue to make excuses you will never learn or grow. 

5. Practice Self Care

Have you heard of the quote, when you look good you feel good. Well it’s true. When you take care of yourself physically, you begin to feel more confident. That is the same idea when dealing with fear. Fear is psychological therefore if you continue to feed into it, it will grow, but if you cultivate the mental strength to overcome fear, then you’ll be able to take on whatever might be thrown your way. Therefore, take the time to take care not only of your physical self but as your mental self as well. Perform meditation, become more self aware, and become more understanding of yourself. By allowing yourself to truly understand who you are, you give yourself  power to control your fate

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Let’s Get Out of Debt

Personal purchases. Mortgage payments. School tuition. Medical Emergencies. Car payments. These are just some of the many reasons we accumulate debt, and debt isn’t something that generally brings good news. 

Having a large amount to owe restricts our movement and brings down a gray cloud over our heads. It’s not something that we hope for but something we wish to go away, and it’s not something easy to get rid of. Below I’ve included some ways you can kick your debt to the curb.

 

 

Make Sacrifices

In order to be able to lessen the debt we have, we first need to accept that we’re going to have to let go of some luxuries. For a short amount of time we have to refrain ourselves from spending money on things we don’t necessarily need, whether it’s going to restaurants, watching movies, buying clothing, etc. We have to understand that this is only going to be for a temporary period until we’re able to pay off what we owe. 

Take note and make a list of all the things that you generally spend money on and start crossing things off you don’t necessarily need. Yes, you’ll be going back and forth whether or not they’re important, but just ask yourself if it’s something you need to survive. It’s an extreme question but it’s an easy one that’ll help you decide. 

 

 

Make a Plan

If you go into a business not knowing what to do or where to go then you’ll be wandering aimlessly. This is the same when trying to pay off your debt. If you don’t know what to cut off or where to get the money, then you’ll continue to add on to your debt. 

Making a plan or making a budget will help you stay on top of it. It’ll help you see how much you’re spending and how much you’ll have left to spend. In this step you’re able to dictate how much you can contribute to what you owe, and there are various strategies that you can use. Such as  the 50/30/20 rule. 

In the 50/30/20 rule you can spend 50% of your income on your essential expenses, 30% on your wants, and 20% towards your financial goals of which debt falls under. This is a great method to follow as it still allows you to spend money on what you want, and not forcing you to let go, cold turkey.

 

 

Pay of the High Interest

If you have multiple bills needing payment, one way to figure out which to prioritize is to look at the interest rates. This method is known as the debt avalanche method. In this method you’ll focus on the debt that carries the highest interest rates because the fees will begin to add up and it’ll feel like you’re drowning. Through this strategy, you’ll pay more than the minimum on the high interest cards and pay the minimum on the others. 

To begin, start listing all your debts, their current balances, minimum monthly payments and their interest rates. Then order them by their interest rates and calculate how much you’ll be able to put into each card. This’ll allow you to lessen the amount of fees while lowering your balance on one card.

 

 

Avoid Using your Credit Card

Credit cards are just a giant pitfall. Since it allows you to pay it back at a later time you tend to keep tapping it. Disregarding how much you’ve actually spent. Since you don’t notice the balance going up every time you use it, it gives a psychological effect where you’ll just continue to spend and spend. 

To start off, put that card away, far from sight to where you won’t be using it anytime soon. Instead what you can do is use cash. This way, you have a better awareness of how much you are spending and are less likely to over spend.

 

 

Be Patient

Debt is not going to go away easily. If you consider that you have to buy essentials like food, water and shelter, you cannot put all your money into your payments. Meaning you’ll have less to contribute and it’ll take longer to pay off. But don’t worry this is normal.  This is where you need to be patient because it’ll take time. It is important to not rush or give up along the way as this is a challenging mental hurdle that you will have to face. 

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The Truth About Passive Income

In this day and age we’re all chasing after that lifestyle where we only have to work 2-4 hours a week and the rest of the time we play. This is without a doubt, entirely possible, and there are many gurus or coaches that are able to help you create that life. But let’s take a step back real quick and get into what passive income is.

Passive income, for those that are starting out, is a source of income where someone would continue to receive a sizable income without having to put in the usual 8 hour work days. Thus allowing you to have more free time to do other things you’d rather do. And because this is highly sought after there are tons of people giving you a “how to”, in achieving this lifestyle. But the problem is that most people who share this information purposely hold back on several details that are crucial when trying to create a passive income. 

There are people who make you believe that you’d be able to achieve a passive income after completing a couple of steps, but they tend to forget to include several important points.  One, for a fact, is that creating a passive income does not happen overnight. Another is that there is a need for a lot of upfront work. Lastly, passive income is not just a set and forget method. 

Without informing you of these details they are setting you up for failure, because you begin to develop a set of expectations and when those expectations aren’t met, you might lose the desire to continue developing a passive income. But don’t worry because I’ll help you create a stable foundation needed in order for passive income to generate. 

 

Put in the work

First and foremost, in order to have this lifestyle you’ll need to put in work in the beginning as nothing can be built out of air. This is actually the easy part, if you can believe it, because in the beginning you have the drive, the motivation and the commitment to make it all work. But think of it like this, in order for you to have more time for yourself in the future you first need to put in more of your time in this journey. 

Be patient

Implementing a system that is able to send you money periodically you will need time to complete. You will need to continue to build upon what you currently have, stacking brick after brick. Because in reality you will need to  support the journey before it can support you. And that’s not easy to do, it requires patience, commitment, dedication and focus, but if you are patient enough you will no longer need to work long hours.  

Put in the Work Again

Lastly, once you create that passive income you cannot just leave it alone. You’ll have to continue to put in work maintaining and scaling as you go. If you leave your journey to function on its own it will come to a point where you’ll notice a decline. Whether it’s through performance or in the amount that you receive, something will begin to slow down. Therefore to ensure consistency you will need to put in some work. Whether if its checking in ensuring all procedures are followed, or making sure 

 

If you agree and accept the terms above then you are ready to take the first step towards achieving the life you want. 

 

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20 Side Hustles You Can Start

Who wouldn’t want some extra cash right! Well below are some side gigs you can do to earn a little bit more. I have listed a wide range of things ranging from going out and giving people rides to working from your computer at home. 

 

As a disclaimer the “Earning Potential” is an estimate. There are many factors that determine how much you may earn, from the time you put in, your skill, your location, your resources, etc. Regardless of this factor you are still able to make money and you can only climb up from where you’ve begun. 

Items below are in no specific order

 

 

  1. Ridesharing

Ridesharing is one of the best ways you can start making some extra cash. There are programs like Uber and Lyft that you can work through. If you have a car and have some time on your hands, give it a try. These programs have been in business for quite some time now and there is supporting information that it works. It works so well in fact that people use this as their main source of income. I mean why not, you get to work your own hours and you decide when you want to work. 

Important things to note are that you get paid for the distance and the amount of time you drive. So keep this in mind when you are accepting ride requests from riders. Some programs also allow riders to tip, but those that don’t, they might new driver referrals and possible bonuses. 

 

Where to start:

Uber : https://www.uber.com/us/en/s/e/join/ 

Lyft : https://www.lyft.com/driver 

Earning Potential: $20 – $70 an hour

 

  1. Food Delivery

Similar to ridesharing, but just without the extra passengers. Instead of having conversations with people in your car, you’ll start getting hungry delivering meals to customers. Nonetheless, this is a great place to start especially if you are warier of having strangers in your car. There are programs that you can work through such as Doordash, Grubhub, and UberEats. 

Each program has different incentives and it will be up to you who you want to work with, but regardless, you will be making some extra cash on your own time whenever you want. 

 

Where to start:

UberEats : https://merchants.ubereats.com/us/en/s/signup/.

Doordash : https://dasher.doordash.com/en-us

Grubhub : https://driver.grubhub.com/ 

Earning Potential : $15 – $30 an hour

 

  1. Deliver Groceries

Feeling burnt out socially, but still want to hustle! Then this is another great option! You can actually do this and the two mentioned options above and cycle through them in a week. There are different platforms as well that you can start from such as Instacart. 

The drawback with this method is that grocery stores are not generally open late hours, so you’ll have a limited timeframe to perform this hustle, but regardless, this is a great option.

 

Where to Start : 

Instacart : Get Started

Earning Potential : $15 – $30 an hour

 

  1. Selling Stock Images

We all have phones that have amazing cameras. Some of us even have nearly 1000 or more photos in our albums. There are some platforms that will buy your images from you and allow you to earn passively over time. 

You can take pictures throughout the day, while you’re on the way to work, walking through the neighborhood, or just sitting on your couch. But based on personal experience, people are looking for high-quality images that tell a story and if that story resonates with them, then it’s perfect! You’ll have a sale!

Things to keep in mind, don’t expect a high income from this gig, but it is entirely possible! There is some work that you have to put in at the beginning but this is great for those that are into photography. 

 

Where to start:

Shutterstock : Get Started 

Adobe Stock :  Get Started

500px : Get Started

Photoshelter : Get Started

Earning Potential : $50 – $1000 per year

 

  1. Transcriptionist

If you are a fast and accurate typist and an amazing listener and you pay attention to the smallest detail, this could be a great option for you! 

A professional transcriptionist is someone that creates a written version of a recorded or live video or audio. These jobs are really important in the legal and medical fields but are extremely useful in other fields as well. To get started, you’ll need to get certified, but when you do, you’re able to earn anywhere from $25 to $40 an hour. 

If this does seem interesting but you don’t have a certificate a great place to start is at Rev. You can also provide your services as a freelancer on Fiverr or through UpWork. 

 

Where to start:

Transcription Certificate : Get Started

Rev : Get Started

Fiverr : Get Started

Earning Potential :$15 – $30 an hour

 

  1. Online Surveys

These have to be the oldest and least thought about when trying to make some extra cash, but man do they work! Many people tend to steer away from these as it is time-consuming and tedious but if you are more than comfortable answering questions and sitting down for a couple minutes then this is a perfect option. 

You don’t have to do a lot at once, you can do one here and another there, it’ll add up just as described by the compound effect. 

 

Where to start : 

Branded Surveys : Get Started

Swagbucks : Get Started

Survey Junkie : Get Started

Earning Potential : $5 – $250 a month

 

  1. Tutoring

If you have a deep understanding of a school subject or a skill in general, you can use that knowledge to help others understand it as well. This is a long time method that has been done by many people and it works! 

If you’re currently in high school , college, or even graduated, there are opportunities on campus or off campus that you can apply for. There are even online platforms that are looking for teachers or knowledgeable individuals to help their students. 

With tutoring you are able to ask for your own price and pick the days that you are able to work, but of course you will also have to work with the schedule of the person that you are tutoring. 

 

Where to start : 

School

Udemy

Earning Potential : $50 – $250 per session [Pay may vary]

 

  1. Dogs! Cats! Rabbits! More!

This has got to be one of the oldest methods in earning extra cash, walking dogs! There are numerous owners that don’t have the time to walk their dog and a lot of them feel bad for their babies. Some are willing to pay others to help them walk their dog, so why can’t it be you!

It doesn’t even have to be walking dogs, it can also be pet sitting or even cleaning after pets. You can self advertise throughout your neighborhood and even create a social page that you can use as validation. Once you can get your first customer, you can also try to have your services spread through word of mouth. You can also post flyers on telephone poles, doing it real old school. 

 

Where to start: 

Ask around through friends, family, flyers, etc

Spread word through social

Earning Potential : $50 – $200 per month

 

  1. Yard Work

Look at your neighbors house, what do you think? Their yard looks really unkempt doesn’t it? — Well go on and knock on their door and ask them if they’d like you to help them out. 

Potential for this is huge! If you live in a neighborhood, take a walk around and notice the home’s condition. Knock on the doors of some of your neighbors and ask them if they need help with their yard. It can be a simple sweep around, mowing their lawn, cleaning their windows, even raking some leaves. Heck, you don’t even have to stop around your neighborhood, go to a different location and take a look around. 

There are people who own homes but just don’t have the time to take care of their yards and this is a good opportunity for you. 

 

Where to start:

Walk around your neighborhood and start knocking on some doors

Earning Potential : $50 – $500 a house

 

  1. Washing Cars

This is another one of those side gigs that’s been around for what seems like forever. This method has actually started rising up in popularity a couple years back as individuals would start their own detailing business. Which was not a bad idea as many people do own cars and many of them don’t have the time to clean their own cars. 

You should also take advantage of this and begin knocking around the neighborhood and advertise yourself. You can provide packages and different price points to help get customers interested. There will be some upfront cost but that will be easily covered after one or two washes. 

 

Where to start : 

Walk around your neighborhood and start knocking on some doors

Provide some free washes to get known

Earning Potential : $50 – $200 per car

 

  1. Online Coaching

There is a large opportunity in the online education niche and if you are skillful or knowledgeable in something specific. I guarantee there is someone out there willing to pay for that information. Whether it’s how to run a business, how to improve your social media, how to play a sport, or how to draw –  the list can go on – you have the potential to start a coaching business. 

There are various platforms that are available that you can use to display your program. 

 

Where to start : 

Teachable : Get Started

Udemy : Get Started

Earning Potential : $50 – $1000 a month

 

  1. Reselling Items

In need of some quick cash and have a lot of things in the house? Well, take pictures of them and post them online or hold a garage sale. This is a win-win situation as you get more space and you get more cash in your pockets. This is another classic way of earning a little bit more. 

Now, I know it may be hard to let go of some of the things that you own since some may hold sentimental value. But if you’re willing to let go of some, then you are giving yourself an opportunity to earn more. 

 

Where to start : 

eBay : Get Started

Mercari : Get Started

Hold a garage Sale

Earning Potential : $10-$300 per item

 

  1. Etsy

If you’re good at making handmade crafts or very creative then this may be a good option for you! Etsy is a platform where you’re able to sell items that you create, it can vary from stickers all the way to making jewelry. There are different options on what you can sell, so don’t limit yourself to just handmade craft. You can also sell digital products, which will give you a higher profit margin. 

 

Where to Start : 

Etsy : Get Started

Earning Potential : $10 – $1,000 a month

 

  1. Selling Baked Goods

Are you a baker? Do you know how to make delicious desserts? Well this is the gig for you!

Selling desserts has been increasing in popularity and it shows that people are willing to purchase delicious, beautifully designed treats. You can post your creations online or have your service spread through word of mouth. With this business you can also determine how much you want to work, how much you want to charge, and when you are available. 

Getting started may take some time but when you begin to be known around the neighborhood as the baker then your customers will be flowing in. 

 

Where to start : 

Start baking!

Earning Potential : $50 – $300

 

  1. Digital Products

You can make calendars, digital books, digital artwork, digital to-do list, the options go on. If you can create a template that people are able to use then sell that. The world is still trying to go all digital so if you are able to solve people’s problems online you could also take home some extra cash. 

Additionally, this holds the largest profit margins compared to other items that you can sell as you are not selling physical products that need capital to manufacture. Once you have a digital product it’s there forever and there is no need to create again and again, because all you need to do is copy and paste. 

 

Where to Start : 

Udemy : Get Started

Fiverr : Get Started

Etsy : Get Started

Your own Website 

Earning Potential : $10 – $200

 

  1. Renting your Car Out

Most of us are working from home now and we don’t drive as much as we used to. So why don’t we take advantage of that and have someone pay us to use our car. There are programs such as Turo that’ll help us organize the entire process. This is like AirBnB, but for cars. 

This is also a good option if you have some extra cars just sitting there. If you want, you can purchase a new or used car and utilize that as a full time hustle. You may even be able to pay off that car within the year!

 

Where to Start : 

Turo : Get Started

Earning Potential : $100 – $500 a month

 

  1. Renting out your House

If you have an extra room or a house that’s not currently occupied you can try to rent it out for a small amount of time. This is especially great if you live in an area close to a tourist attraction as people will look into booking a home instead of a hotel just because there are better amenities when renting a home. 

AirBnB or VRBO is a great option for getting started. These are businesses that have the support and assistance to help you get your feet wet. These are also well known brands that have thousands if not millions of customers and not only are they available in the USA but they also help homeowners manage renting their homes to people internationally. 

You could be able to cover the monthly bill for your house within weeks if not days of a book, and if you are able to consistently sell out your listing,  you can make a decent living if not a side gig.

 

Where to Start: 

AirBnB : Get Started

VRBO : Get Started

Earning Potential : $200 – $2000

 

  1. YouTube

This is the second most used search engine, right behind google. People will use this platform for both entertainment and for answers.  This platform has made millions of people into millionaires and if you’re able to capitalize on this opportunity it could allow you to become financially free as well. 

There are tons of different approaches you can go from, either through a daily vlogging life, to fitness trainer to a gaming channel. There is so much potential in this method, that I highly recommend considering it. But keep in mind that it will take some time to build up especially if you are not accustomed to speaking in front of a camera, but also take note that you don’t have to be in front either. That you can create animated videos and people will still watch them. 

 

Where to Start: 

YouTube: Get Started

Earning Potential : $10 – $1000

 

  1. Selling on Amazon

Amazon has become a staple in many people’s lives. With the convenience of shipping, customer support and the many items that they have available for purchase it makes us question, why get it somewhere else. 

Also know that it’s not just big named companies that are able to sell on this platform but it’s also people like us.

This business model is called Amazon FBA, aka Fulfilled by Amazon. And there are two general methods that people use to sell their products. Either through retail arbitrage, which is where you purchase products at a low price and post it on the items page within Amazon for sale. The second method is through Private Labeling, which is where you sell your own products for sale through your own listing. This method is more personal and will require a bit more work but the scaling potential is larger than RA. 

 

Where to Start : 

Amazon Seller : Get Started

Earning Potential : $50 – $3,000 a month

 

  1. Selling Clothing

Last but not least, also one of the oldest methods, you can produce your own clothing and sell them! With the platforms that allow you to sell and the social media opportunities you are able to scale this business method into something that can help sustain your lifestyle. If you have a keen eye for fashion or are great at graphic design then this could be a good option for you. 

There are different methods you can use to create your products, either make them yourself or have a printing company produce them based on your design. But you don’t necessarily just have to create the designs yourself, you could also contract artists to make tshirt designs and you will manage the production process. 

 

Where to Start:

Etsy : Get Started

Shopify : Get Started

Earning Potential : $50 – $300 a month

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