Meikel Muhr
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- Jul 15, 2021
- 9
- 12
Hello Fastlaners,
I came across MJ's book a couple of weeks ago and since then I am completely amazed by his thoughts.
I am 31yrs old, living currently in Germany and doing IT Project Management work (Freelance) for big clients all over Europe. I started my career +10 yrs ago as an intern (while studying IT + Business) for a big chemical company. I got into SAP and learned everything about it in the area of logistics, changed to IBM, working for big companies as SAP Consultant and ultimately started my own freelance business 4 years ago (same time when I moved to Spain for living the good life next to the beach).
The first 4 years as Freelance Consultant have been pretty good from a financial point of view. Friends & Family would say I am doing very good. Also lately I abadonned the role of SAP consultant for becoming a Project Manager. Why? Because I see my passion in PM and also it is a way to charge higher rates. Currently I am sitting in a low 6-figure revenue (of course pretty much limited due the time I have and the daily rate I charge). So the classic issue with time vs. money business. I am growing my rev every year by adding new skills and raising rates consequently (e.g. beginning of the new year +10%). By this I am now saying "NO" to a lot of recuriters / clients / agencies and only accepting gigs that fit my terms (payment, flexibilty of location and of course topic).
Having read FLM my eyes opened just realizing that I have created (a well paid) job myself and I am still in the Slowlane (and will be following this approach). Also I found MJ's thoughs on the stock market interesting. My second business (and I call it business because I treat this very professional) is investing in the stock market via differnt products (options, derivates, stocks, commodities). Also here I did quite well in the last 3 years being aware that the market was good to me and I am not in control of it.
So what brings me here to the forum and posting my story. I am now even better aware of the fact that I have no control over what I am doing. If I do not attend my clients projects, there is no revenue. If the stock market drops drastically, I still make some money but my strategies are more oreinted on bullish markets. The time I spend on client projects and in the markets determines what I can cash in.
So what I am looking for? Your thoughts and ideas on how I could get more leverage on my business by NOT hiring people for operations. Finding and getting people in my business niche isn't easy, one must be willing to pay good (high) salaries and of course managing them. Things I am not open for. So scaling via employees is currently no option for me. Don't get me wrong - I am very much open for people supporting my business like a VA or someone doing marketing, but "cloning" myself would imply high cost I am not willing to cover in the moment.
Ideally I would love to step into productized consulting, but haven't found a good way so far as my "done for you business" is very often so specific customized to the clients that I did not find "the one thing" that I could systemize. But maybe I am thinking to complex....
Open to any thought - IT consultans, PMs, Freelancer Manager / Interim Manager....
Thanks in advance and take care guys!
Michael
I came across MJ's book a couple of weeks ago and since then I am completely amazed by his thoughts.
I am 31yrs old, living currently in Germany and doing IT Project Management work (Freelance) for big clients all over Europe. I started my career +10 yrs ago as an intern (while studying IT + Business) for a big chemical company. I got into SAP and learned everything about it in the area of logistics, changed to IBM, working for big companies as SAP Consultant and ultimately started my own freelance business 4 years ago (same time when I moved to Spain for living the good life next to the beach).
The first 4 years as Freelance Consultant have been pretty good from a financial point of view. Friends & Family would say I am doing very good. Also lately I abadonned the role of SAP consultant for becoming a Project Manager. Why? Because I see my passion in PM and also it is a way to charge higher rates. Currently I am sitting in a low 6-figure revenue (of course pretty much limited due the time I have and the daily rate I charge). So the classic issue with time vs. money business. I am growing my rev every year by adding new skills and raising rates consequently (e.g. beginning of the new year +10%). By this I am now saying "NO" to a lot of recuriters / clients / agencies and only accepting gigs that fit my terms (payment, flexibilty of location and of course topic).
Having read FLM my eyes opened just realizing that I have created (a well paid) job myself and I am still in the Slowlane (and will be following this approach). Also I found MJ's thoughs on the stock market interesting. My second business (and I call it business because I treat this very professional) is investing in the stock market via differnt products (options, derivates, stocks, commodities). Also here I did quite well in the last 3 years being aware that the market was good to me and I am not in control of it.
So what brings me here to the forum and posting my story. I am now even better aware of the fact that I have no control over what I am doing. If I do not attend my clients projects, there is no revenue. If the stock market drops drastically, I still make some money but my strategies are more oreinted on bullish markets. The time I spend on client projects and in the markets determines what I can cash in.
So what I am looking for? Your thoughts and ideas on how I could get more leverage on my business by NOT hiring people for operations. Finding and getting people in my business niche isn't easy, one must be willing to pay good (high) salaries and of course managing them. Things I am not open for. So scaling via employees is currently no option for me. Don't get me wrong - I am very much open for people supporting my business like a VA or someone doing marketing, but "cloning" myself would imply high cost I am not willing to cover in the moment.
Ideally I would love to step into productized consulting, but haven't found a good way so far as my "done for you business" is very often so specific customized to the clients that I did not find "the one thing" that I could systemize. But maybe I am thinking to complex....
Open to any thought - IT consultans, PMs, Freelancer Manager / Interim Manager....
Thanks in advance and take care guys!
Michael
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