Dear all:
Thank you for allowing me to be part of this community. My name is Alex and I am a 36 year old "entrepreneur" from Los Angeles, CA. I used to hold "prestigious" corporate jobs, and then finally 6 years ago, I could not take it anymore. At least I was wise enough to get out of that mill. However, I then decided to start a "business" which violates just about every commandment of fast lane success from MJ's book: a consulting and legal business servicing companies in the entertainment and technology industries.
I am stuck, and sick of it. Even though I am making what many would consider to be a good income, I have no control (at any point one of my clients can fire me, which will constitute a big hit to my income) and I am being leveraged like crazy.
Here is my analysis of the business I have right now, in accordance with the commandments in MJ's book:
1. Need: my clients do have a need for service I provide, but I am far from the only person capable of addressing it. Furthermore, my clients are large companies with a great deal of leverage.
2. Entry: there is no barrier to entry to starting a consulting business. Yes, you need to have expertise which comes with time, but all it takes to start is a few phone calls.
3. Control: I have none.
4. Scale: it is impossible for me to scale this business, as the clients want to talk to me only. Plus, I have about 7-8 clients, and clients in this industry and for the service I provide are very difficult to find.
5. Time: I am 100% trading my time for money - I work 7 days a week and have no freedom. I cannot even take a vacation. The other problem I have is that with constant meetings in the LA area as well as a staff, I am stuck in this city until I can get myself out of this situation. The added problem is that I do not really have the luxury of just stopping everything I am doing right now.
I am here in hopes that I can determine what kind of business I should start in order to be able to replace my current situation for a better one. I would love to find a mentor whom I can speak to about my particular circumstances.
There is a saying that goes: "the more I learn, the less I know." This is how I feel - even though I am doing fairly well in my business, I know I can do so much more. I wish that I had picked up MJ's book 10 years ago or more. But here we are.
Thank you for allowing me to be part of this community. My name is Alex and I am a 36 year old "entrepreneur" from Los Angeles, CA. I used to hold "prestigious" corporate jobs, and then finally 6 years ago, I could not take it anymore. At least I was wise enough to get out of that mill. However, I then decided to start a "business" which violates just about every commandment of fast lane success from MJ's book: a consulting and legal business servicing companies in the entertainment and technology industries.
I am stuck, and sick of it. Even though I am making what many would consider to be a good income, I have no control (at any point one of my clients can fire me, which will constitute a big hit to my income) and I am being leveraged like crazy.
Here is my analysis of the business I have right now, in accordance with the commandments in MJ's book:
1. Need: my clients do have a need for service I provide, but I am far from the only person capable of addressing it. Furthermore, my clients are large companies with a great deal of leverage.
2. Entry: there is no barrier to entry to starting a consulting business. Yes, you need to have expertise which comes with time, but all it takes to start is a few phone calls.
3. Control: I have none.
4. Scale: it is impossible for me to scale this business, as the clients want to talk to me only. Plus, I have about 7-8 clients, and clients in this industry and for the service I provide are very difficult to find.
5. Time: I am 100% trading my time for money - I work 7 days a week and have no freedom. I cannot even take a vacation. The other problem I have is that with constant meetings in the LA area as well as a staff, I am stuck in this city until I can get myself out of this situation. The added problem is that I do not really have the luxury of just stopping everything I am doing right now.
I am here in hopes that I can determine what kind of business I should start in order to be able to replace my current situation for a better one. I would love to find a mentor whom I can speak to about my particular circumstances.
There is a saying that goes: "the more I learn, the less I know." This is how I feel - even though I am doing fairly well in my business, I know I can do so much more. I wish that I had picked up MJ's book 10 years ago or more. But here we are.
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