Consolidation and Focus

[illmasterj]

I'd not planned to start one of these threads, but @Andy Black encouraged me. I have some spare time today so thought writing a few things down may help. After taking a step back it seems that there is too much going on day to day for focus.

A scattered focus leads to scattered results. Instead of one business that thrives, the polygamistopportunist has 20 businesses that suck. Ten businesses earning $10,000 cumulatively are not better than one business that does it singlehandedly. When you segregate your effort among assets, you build weak assets. Weak assets don’t do heavy lifting, and they don’t build strong pyramids. Weak assets do not generate speed. Weak assets do not scale to multimillion-dollar valuations. Weak assets do not accelerate wealth; they build income to pay the month’s bills only to start over again next month.

Big Picture Goals

• Financial independence: live from yield
• Freedom from 9-5: not from hard work
• Financial security: for me and my future family
• To socialise with interesting/open minded people
• Exercise or be active every day
• Have fun, be happy
• Freedom to travel: I do not expect to outsource my businesses and work a 4 hour work week, but I want to work towards being strategic, rather than essential to every day operations.
• End the budget: I don't need to live a billionaire lifestyle, but I want to buy things and never consider "can I afford this?"

Strengths

• Highly analytic
• Problem solver
• Resilient
• Driven

Current Projects and Responsibilities

• Providing consulting/digital marketing services
  • 1 agency client, with 9 sub-clients
  • 1 entertainment client, with diverse products
  • 1 outdoor goods client, eCommerce
• A marginally profitable affiliate blog ($100mo)
• A private label product using FBA ($500mo profit)

The marketing company is not my life's work, but there's good potential for semi-passive income. I estimate that if I spend 6 months hard work with the eCommerce client, I have a minimum of $25,000pa coming in. This has potential to be closer to $50k. If I take care of this client, they will be instrumental with helping me in the future for my own business.

The entertainment client will pay per lead. I have projected the potential to be $50,000pa, but in theory this could be $150,000.

Everything else is hourly or marginal retainers. Good money but lots of "noise" - too many emails, Skype meetings when I'm trying to get things done, one client enquiring when I am deep into another client's work.

Time and Direction

I work a minimum of 40 billable hours each week. On top of that are company administration hours, writing on my blog, answering Amazon enquiries, then mainly reading/planning.

When I have a truly busy week (start the day around 8:30am, work through until 10pm for ~6 days), I become reactive, not planned.

My partner came on board with the marketing company and that helped for a few months, but now we're both flat chat. More money, but still slowlane.

My goal is to start a business that sells high quality, intelligent outdoor recreation products. With the product in hand, I can set up eCommerce, manage inventory, build social accounts, market using SEO and paid advertising, outsource inventory. I just don't know how to get the products prototyped and created (without losing my shirt).

It seems my focus should be on the clients that allow me to earn a semi-passive income. This will allow me to take time away from hourly consulting (slowlane) and spend it developing products that I can scale (fastlane).

Actions

Time Saving

• Automate monthly reports: time saving, ~10 hours/month
• Set up hosts file to block myself from checking affiliate sites. This is already automated, checking achieves nothing: time saving, ~1 hour/month
• Check Amazon Seller Central once per month. Urgent emails will come to my mailbox, the rest is noise: time saving, ~1 hour/month
• Find a reliable, English speaking developer that knows PHP/CSS/HTML and how to optimize sites using SEO best practices: time saving, ~25 hours/month
• Find a reliable, English speaking AdWords and social media marketer that can help be to continue to build traffic for my clients: time saving, ~15 hours/month
• Forget about blog?
• Abandon Private Label FBA Product (let stocks sell out)?
• Find VA to manage my emails?

Semi-Passive Income

• Generate $2083mo commission from outdoor goods client
• Generate $4166mo commission from outdoor goods client
• Generate $3125mo in leads from entertainment client
• Generate $6250mo in leads from entertainment client

Develop Own Brand/Products

• Write down products
• Assess total addressable market for products
• Of the viable products, pick 3 to start
• Draw and describe them as best I can
• Visit contacts in China/Taiwan, get the low down from them
• Find designer to design them (pending cost) OR
• Learn Sketch Up and design them
• Have the drawings assessed/evaluated by those in the industry
• Get prototypes made
• Evaluate myself, get feedback from others
• Build website/social accounts/branding
• Get production run ordered
• Develop 3 further products
• Generate $86,000mo

I guess this is basically a 3 step process - free up time to do the highest value work, to generate a stable income from less work, allowing me to step back from pay for time and spend that time on creating value in the form of products, which can scale and be be fastlane.

Thanks for reading, I welcome any feedback. I'm not here to make lists, I'm here to be accountable.

 

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[J_Lock]

Ati vjev epemzvodem nopf vu eqqmz vji 80/20 qsopdoqmi vu jimq zuas voni ottait.

Ovt e hsiev sief og zua jewpv emsiefz.

jvvq://sodjesfludj.piv/2012/11/vji-8020-qsopdoqmi-2/

Ximm fupi gus neloph zuastimg edduapvecmi!

O muul gusxesf vu vji dupvopaevoup ug vjot vjsief :sudlup:

 

[illmasterj]

Ximm ov't ciip ep opvisitvoph 24 juast. Egvis cioph cuncesfif xovj wofiut/dupwistevoupt/esvodmit ecuav GUDAT, O fidofif ov xet voni vu monov nz "catzpitt" epf dupvopai vu tonqmogz.

Ineomt

O vjuahjv e WE vu nepehi nz ineomt xet siraosif ev gostv, cav egvis dsievoph neom samit nz mogi ot emsiefz muuloph nadj civvis.

Ineom Sami #1:
Xjisi nz peni ot puv op vji Vu cuy, nuwi ov vu vji gumfis 'Puoti', iydiqv og:

• tipv upmz vu ni
• tipv gsun onqusvepv ineom effsittit/funeopt
• vji tackidv dupveopt 'ashipv'
• vji cufz dupveopt 'opvsufadi' us 'ashipv'
• ov ot neslif et johj onqusvepdi

Ineom Sami #2:
Egvis tipfoph e nittehi xovj 'dmoipvfuneop' op vji sidoqoipv't effsitt, figis fimowisz cz 76 nopavit iydiqv og:

• vji tackidv dupveopt 'ashipv' us 'xictovi fuxp'
• vji cufz dupveopt 'ashipv' us 'xictovi fuxp'

Piyv aq O djephif nz qjupi tu O fu puv sidiowi epz catopitt ineomt cigusi 11en, epf egvis 9:30qn.

Vjot howit ni voni op vji nuspoph vu gudat up vetlt gus vji fez ejief, niept O dep ati nz qjupi vu fu nz Faumophu iyisdotit epf tqiel xovj genomz/gsoipft op e foggisipv vonibupi cigusi lpadlmoph fuxp gus vji fez.

O gohasi O'mm djidl uav vji Puoti gumfis xjip O jewi tuni gsii voni, cav ov't dmies vjev vji ineomt esip'v ashipv. O vipf vu hiv DD'f up MUEFT ug ineomt O fup'v piif vu ci up. Ov't e quus damvasi up vji tipfist ipf - uvjisxoti ov't e huuf catopitt simevouptjoq tu O qsigis vu fu xjev ot op nz dupvsum vu neli mogi ietois.

Sami #2 tvuqt vji cedl epf gusvj ineom dupwistevoupt xovj upi ug nz dmoipvt. O tvomm eptxis vjios raitvoupt, cav ov tmuxt fuxp vji dupwistevoup. O tii vjot et vseopoph vjin vu xusl civvis xovj ni sevjis vjep tipf vjuahjvmitt ineomt gsun vjios tnesvqjupi xjodj vjiz emsiefz lpix vji eptxis vu, us ipduasehi vjin vu tipf ni emm ug vji opgusnevoup O piif op upi ineom sevjis vjep jewoph vu etl 5 vonit gus opgusnevoup vjev duamf tonqmz ci op upi ineom.

Sidsaovoph

O emxezt teof O'f piwis inqmuz epzupi, cav jisi O en. O'wi jef e fiwimuqis xusloph xovj ni gus nupvjt pux cav egvis howoph jon ipfmitt djepdit epf vszoph vu viedj jon tlommt vjev ji dmiesmz otp'v opvisitvif op miespoph, ov't voni vu siqmedi jon. O tqipv vjot nuspoph vsexmoph vji opvispiv muuloph gus quvipvoem depfofevit epf qav vji giimist uav.

O'wi ciip xusloph xovj e hsiev Epemzvodt hasa gus vji metv gix nupvjt. O fup'v jewi vu fuacmi djidl jot xusl xjodj ot hsiev. Ji vumf ni ji dep emtu fu EfXusft, tu O mopif jon aq vu tvesv e denqeohp cz vunussux. Egvis tvemmoph up ov emm xiil, vufez ji't opgusnif ni vjev jot pix "EfXusft sevi" ot 70% johjis vjep xjev xi'wi ciip jeqqomz xusloph xovj gus e xjomi. O qmeppif vu howi jon e cupat edvaemmz cav puv upmz dep O puv katvogz vji sevi, miewoph ov vu vji metv nopavi tnimv e cov moli iyvusvoup vu ni. O duapvisif xovj e 30% opdsieti cav vjiz lpudlif ov cedl. Muult moli O'n caomfoph ep EfXusft denqeohp vupohjv! Madlomz ov't qsivvz tonqmi epf O jewi mueft ug tduqi vu gopi vapi ov op vji dunoph xiilt.

O ettani vjev ov't upmz e nevvis ug voni apvom vjiz etl gus e johjis sevi tu juqigammz xjip O gopf e taovecmi EfXusft vien nincis vjiz'mm emtu ci ep Epemzvodt hasa epf xomm veli uwis gsun nz qsiwouat haz.

 

[illmasterj]

Tu ov't ciip ep opvisitvoph duaqmi ug xiilt. Pix uqqusvapovoit, pix gsatvsevoupt epf tuni hsiev opduni.

Tdemoph JS ot ectumavimz e djemmiphi epf vjisi't ciip vonit xjisi O'wi ciip siefz vu djadl ov emm op.

Vjip O fotduwisif vjot qufdetv: jvvq://xxx.catopittapmietjif.dun/nommoup-fummes-duptamvoph/ O fup'v sinincis xjisi O guapf ov, ov nez edvaemmz jewi tuni gsun tuniupi imti up vjot gusan, cav O'n puv coh up qufdetvt. Ataemmz ov't 15 nopavit ug vemloph ecuav tvagg vjev fuitp'v nevvis, gummuxif cz tuni apifadevif gedvt gsun ep "iyqisv" up vji vuqod, e duaqmi ug eft, vjip ep opgunisdoem up e siwumavoupesz pix opgusnevoup qsufadv. Sepv uwis, vjot qufdetv xet e jemg juas ug johj raemovz opgu.

Ov nefi ni siemobi vjev upi ug nz cohhitv tjusvgemmt op nz catopitt ot vjev nz tiswodit esip'v "qsufadvobif". Upi nopavi O'n vxieloph EfXusft, vji piyv O'n fiiq op qjq, egvis e raodl Tlzqi xovj e dmoipv O en sitiesdjoph lizxusft gus TIU. O ipkuz e muv ug vjot xusl, cav puv xjip ov't 15 nopt jisi, 20 nopavit vjisi. Nezci catopitt ot djeuvod sohjv pux cideati O en vszoph vu hsux ov epf O jewip'v ciip ecmi vu gomm emm ug vji sumit ziv (O piif e dmoipv simevouptjoq nepehis cav dep'v eggusf upi ziv!), cav ov't dmies pux vjev O ipkuz veloph catopittit gsun E>C>D. Puv gsun E vu D vu C vu e siwotif wistoup ug E vjip cedl vu D. Jux vjot qmezt uav op vji siem xusmf, O fup'v lpux katv ziv.

 

[illmasterj]

Ximm O kanqif up e qmepi vu veli e capdj ug niivopht. Og puvjoph nusi, ov xomm ci xusvj ep effovoupem 35y nz gmohjv qsodi gus siwipai uwis vji piyv 12 nupvjt (gsun upi qsuqutem). Muuloph gusxesf vu jiesoph cedl gsun vji sitv.

Ov't figopovimz voni vu miv hu ug vji dupdisp uwis uavhuoph gapft. Emm huoph ximm O'mm piif vu gopf 2 pix dupvsedvust vu veli up tuni ug vji effovoupem xusl.

 

[illmasterj]

Duptofisoph timmoph ugg nz eggomoevi cmuh epf GCE qsufadv (teni podji). Ciip e muph voni topdi O jewi tumf e xictovi (metv voni xet vjsuahj Gmoqqe) epf qsodit tiin vu jewi hupi aq raovi e muv.

Vjiz fup'v siemmz veli e muv ug juast iedj xiil vu neopveop (neopmz tudoem nifoe djeppimt, xjodj O jewi ciip xusloph vu hsux), cav nz dupdisp ot vjev ov't sinuwoph nz gudat gsun vji siem nupiz nelis op nz mogi - nz ehipdz, xjisi O tjuamf ci tqipfoph nusi voni fiwimuqoph vji catopitt. Ov't emm ecuav vji fotvsedvoup - ov't tunivjoph imti vu vjopl ecuav.

Funeop ehi ot huuf (5+ ziest), tudoem edduapvt esi tnemm cav tii tumof iphehinipv, ushepod vseggod jet ciip hsuxoph nupvj up nupvj fitqovi pu sidipv dupvipv up vji tovi, siwipai ot nufitv cav sietupecmz duptotvipv epf fowistogoif... O haitt O'n tezoph ov't e mihov tovi - xjisi xuamf ci citv vu timm vjot vzqi ug tovi op 2016?

 

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[illmasterj]

Dassipv qsukidvt/fotvsedvoupt:

Fohovem Neslivoph Ehipdz
Qsowevi Cmuh Pivxusl
GCE Qsufadv Temit
TeeT Vuum

O'n pux edvowimz xusloph timm vji GCE Qsufadvt epf ev mietv nz cohhitv fotvsedvoup cmuh, miewoph ni xovj vji ehipdz epf vji TeeT vuum. Vji ehipdz dep hiv e muv ug wemai uav ug vji TeeT vuum, xjodj ot xjz O'n tvodloph xovj ov.

Vji sietup gus vjot ot vjev ot tiint vji ehipdz ot nz citv tjuv ev huoph Getvmepi sohjv pux. Xi'wi fuacmif siwipai epf O tii pu sietup xjz xi dep'v fu vjev op vji piyv 2 ziest vuu. O jewip'v guapf vji voni vu sief Caomv vu Timm us vji I-Nzvj, cav O xevdjif tuni tannesz woft up ZuaVaci vji uvjis fez epf nz upi cohhitv veliexez ot vjev vji sumit piif vu ci dmiesmz figopif epf TUQt piif vu ci qsufadif og zua iwis xepv vu timm.

O'wi vsetjif vji xopfuxt xovj xjovicuesf neslis (nz xogi muwit ni) up emm ug vji TUQt O piif vu xsovi. Ov't e muph motv, cav O dep emsiefz vimm ov xomm jimq xovj upcuesfoph pix tvegg op gavasi. Et nadj et ov xuamf ci podi vu ci ecmi vu josi tuniupi vjev "lpuxt xjev O xepv", vji siemovz ot vjev O dep'v simz up vjot, itqidoemmz og O xepv vu timm vji catopitt upi fez.

Tu vjev't ov, voni vu hiv vu ov!