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Recent content by ChrisW

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    Monogamy over Polygamy

    Hey FastLaners, I just finished reading the Millionaire Fastlane again and have some questions/concerns about the chapter about monogamy vs. polygamy. I understand that it's not wise to start 3 new business every week, but isn't there a balance in there somewhere? Does it really just have to...
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    Calculating Passivity

    Hey Everybody, Does anyone have any suggestions on the best way to calculate passivity percentage for a business? I'm currently running my own consulting business and am working hard on trying to cut the amount of direct time that this business takes from me. If I can replace myself with a...
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    Trading Too Much Time for Too Little Money

    Hi Mara, I'm glad the book was useful! As an IT Services firm we've ended up doing everything for clients - building custom software, supporting it, writing documentation for it, and on and on. We've also had to deal with learning new technologies for new projects. The result was the...
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    Trading Too Much Time for Too Little Money

    Maralevin, I just finished a new book called "Built to Sell", read this book even if you don't ever plan on selling your business! It had the same effect on me as E-Myth, and it shows an easier/more understandable way to get out of "the business owning you". ChrisW
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    Trading Too Much Time for Too Little Money

    Hi Maralevin, I do see myself going in that direction, with the goal being to build an IT Consulting business that does not depend on me in any way. I've hired employees in the past with disastrous results - paid way too much for them, mismanaged them, and the list goes on and on. I'm...
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    Trading Too Much Time for Too Little Money

    The biggest problem with scaling consulting is that it involves building a system with people in it, especially in IT. Finding talented and dedicated people is hard enough, and then keeping them happy, motivated, and compensated (while still making a profit) is even harder. Ultimately, this...
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    Trading Too Much Time for Too Little Money

    Hey Everyone, My name is Chris, and until I read The Millionaire Fastlane, I thought I was on the road to wealth. In 2004, I was working as an IT Programmer and Project Manager for a trade association when I received an invoice from one of our IT Consulting Firms. The invoice had a line item...
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