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27 Years Old, Living Mortgage Free, But Unsure Of My Next Step...

Idea threads

jwest95

New Contributor
Read Fastlane!
Jan 7, 2022
13
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So I've just moved into a fully-paid off house at 27 years old. I'm in an extremely fortunate position to be able to say this and in many ways feel secure for my financial future.

At the same time, I in some ways feel a bit lost on what my next step should be. I'm currently working a job, it's paying the bills but have basically zero interest in it - I want to leave as soon as possible.

I want to get my business venture(s) started. I'm a musician, have had clients in music before and can produce/mix audio.
I have a YouTube channel based around music and songwriting, but am thinking it could take a while to build my audience into anything substantial where I could earn a full-time income.

Here's my dilemma:
- Should I focus on landing clients for music production/songwriting, whilst building my YouTube channel (long-term approach)?
- Or should I start a business in a more in-demand field like social media marketing (I have experience in this) or Amazon FBA for example?

I'd love to hear anyone's thoughts on this? My aim is to quit my job ASAP! I'd need to make about £1000 p/month in a business to comfortably quit my job.

Thank you all!
 
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Eudaimonium

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Jun 8, 2017
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How in-demand would you be in each field? If you already had music clients, that means something. You can also do several things at once, splitting your focus. This isn't great for growing a business, but it can show you which business is worth growing. It makes sense to fail at a few ideas before going all-in on one. If you fall in love with an idea too early, you can waste a lot of time (years of your life) and deceive yourself that your execution is lacking, when in fact the idea is sub-par.

Short-term to reach 1000/month, it is not a question of scale or what field is in high demand. As long as there are a few customers out there, and you can help them, it is doable.
 

jwest95

New Contributor
Read Fastlane!
Jan 7, 2022
13
11
How in-demand would you be in each field? If you already had music clients, that means something. You can also do several things at once, splitting your focus. This isn't great for growing a business, but it can show you which business is worth growing. It makes sense to fail at a few ideas before going all-in on one. If you fall in love with an idea too early, you can waste a lot of time (years of your life) and deceive yourself that your execution is lacking, when in fact the idea is sub-par.

Short-term to reach 1000/month, it is not a question of scale or what field is in high demand. As long as there are a few customers out there, and you can help them, it is doable.
Appreciate your thoughtful reply! It's true that I have already made money (and good money) in the music field before - so sounds like in that sense I've already answered the question. Thank you again
 

MJ DeMarco

I followed the science; all I found was money.
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Where can you deliver the most value? What can morph into CENTS?

Johnny's "idea framework" is also great place to examine your options.

 
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jwest95

New Contributor
Read Fastlane!
Jan 7, 2022
13
11
Where can you deliver the most value? What can morph into CENTS?

Johnny's "idea framework" is also great place to examine your options.

Thank you MJ for your reply, always appreciated. I'm gonna read Millionaire Fastlane again and I had a read of the post you linked and it was very helpful
 

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