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Hi all!
I don't want to make this super long so I'll try to hit the high notes! Feel free to ask more questions if you want to know anything more in-depth.
I'm a 30-something female entrepreneur with an online business. I've been running it for 4 years now, 3 years full-time. In the beginning, I was selling digital products and doing pretty well with it. I was making anywhere from 5-10K a month which was awesome because I had no inventory, but I was getting super impatient because I wanted to quit my job and the sales weren't consistent enough for my husband to feel comfortable with me leaving.
So...I started to take on 1-on-1 clients because I could charge more and hit my financial goals faster. Because my 1-on-1 work was in high demand, I was quickly selling out months in advance and collecting as much as $5K per client.
The only problem was...I hated the work. And the hours were killing me. Thinking I could "buy my freedom" by "scaling", I ended up hiring a bunch of people I didn't need to hire.
It "worked" in the sense that I was bringing in $30K, $40K, sometimes $50K a month, but my expenses were crazy high and I hated my life doing so much one-on-one work. On top of that, we found out I was pregnant and there was no way I was going to be able to continue that pace.
So...I fired everyone except for a few overseas contractors and quit all my 1-on-1 work. I had to take a break for about a year just to get used to motherhood but I am now rebuilding my business to focus exclusively on digital products. Before I go into 1-on-1 work, I was doing a good job scaling with Facebook ads, but like I said, I got really impatient, started chasing dollar signs instead of focusing on what would be the most sustainable form of revenue for me in the long run. Lesson learned!
I first learned about @MJ DeMarco via Pat Flynn's Smart Passive Income podcast (I used to binge listen when I worked a full-time job, lol). I read his book and LOVED it! It encapsulated everything that I knew was true in my gut but couldn't put into words.
Since my teenage years, I've always been interested in becoming wealthy and used to feel guilty that I wasn't "smart enough" to save up $1,000 and put it in a mutual fund when I was 16, because when I turn 65, by golly that $1,000 would have turned into $1 million! Ha! Not saying conservative investing is bad but I just knew there had to be a better way to build wealth while your young instead of waiting until 65.
Anyway, I feel pretty confident in my plan and want to reach financial independence in the next 5 years or sooner. My goal is to take the profits from this business and roll it into Real Estate and other high-margin, passive income businesses.
I'm excited to join this forum after lurking on and off for a few years and I look forward to connecting with you all!
Oh! And I've attached a screenshot of my stripe sales just so you know I'm telling the truth. I use both Stripe and PayPal in my online store so I've made more than what is shown here because this doesn't show my PayPal sales.
I don't want to make this super long so I'll try to hit the high notes! Feel free to ask more questions if you want to know anything more in-depth.
I'm a 30-something female entrepreneur with an online business. I've been running it for 4 years now, 3 years full-time. In the beginning, I was selling digital products and doing pretty well with it. I was making anywhere from 5-10K a month which was awesome because I had no inventory, but I was getting super impatient because I wanted to quit my job and the sales weren't consistent enough for my husband to feel comfortable with me leaving.
So...I started to take on 1-on-1 clients because I could charge more and hit my financial goals faster. Because my 1-on-1 work was in high demand, I was quickly selling out months in advance and collecting as much as $5K per client.
The only problem was...I hated the work. And the hours were killing me. Thinking I could "buy my freedom" by "scaling", I ended up hiring a bunch of people I didn't need to hire.
It "worked" in the sense that I was bringing in $30K, $40K, sometimes $50K a month, but my expenses were crazy high and I hated my life doing so much one-on-one work. On top of that, we found out I was pregnant and there was no way I was going to be able to continue that pace.
So...I fired everyone except for a few overseas contractors and quit all my 1-on-1 work. I had to take a break for about a year just to get used to motherhood but I am now rebuilding my business to focus exclusively on digital products. Before I go into 1-on-1 work, I was doing a good job scaling with Facebook ads, but like I said, I got really impatient, started chasing dollar signs instead of focusing on what would be the most sustainable form of revenue for me in the long run. Lesson learned!
I first learned about @MJ DeMarco via Pat Flynn's Smart Passive Income podcast (I used to binge listen when I worked a full-time job, lol). I read his book and LOVED it! It encapsulated everything that I knew was true in my gut but couldn't put into words.
Since my teenage years, I've always been interested in becoming wealthy and used to feel guilty that I wasn't "smart enough" to save up $1,000 and put it in a mutual fund when I was 16, because when I turn 65, by golly that $1,000 would have turned into $1 million! Ha! Not saying conservative investing is bad but I just knew there had to be a better way to build wealth while your young instead of waiting until 65.
Anyway, I feel pretty confident in my plan and want to reach financial independence in the next 5 years or sooner. My goal is to take the profits from this business and roll it into Real Estate and other high-margin, passive income businesses.
I'm excited to join this forum after lurking on and off for a few years and I look forward to connecting with you all!
Oh! And I've attached a screenshot of my stripe sales just so you know I'm telling the truth. I use both Stripe and PayPal in my online store so I've made more than what is shown here because this doesn't show my PayPal sales.
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