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Progress Thread For when the kids ask for life advice

Discussion in 'Progress/Execution Threads' started by RedKiteKid, Jul 9, 2017.

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  1. RedKiteKid
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    My introduction thread (tl;dr below) pretty much lays out where I am at but I thought I would start a progress thread so that I can do regular updates as things, um,... progress. It feels to me, at this time, writing this first post, that this progress thread will be entirely self indulgent; a place to order my thoughts and gather whatever feedback is kind enough to fall my way. I can only hope that I can deliver some value by being as committed to the process of progress as some of the other threads on this forum that I have taken so much value from over the last few weeks of digging into the Golds and Notables. Some of those posts span years and show what it really takes I hope that mine can join their fold.

    "If your dream is alive, you're already living the dream"
    If I were to pick one quote from TMF that stuck with me it would be this. I feel like I have bounced around so much, from shiny object to shiny object, wasted time on duff opportunities, in duff jobs, or reading for the sake of reading. General wheel-spinning and action-faking that took me nowhere. I know I could have done better, and yet in a weird way I know it was important. It's part of what fuels me now. I don't want to look back on those days and say I didn't learn from them. I don't want to know that, having realised I never took action, I sat back and span my wheels some more. My dream is alive and those wasted years are all a part of that same dream, as long as I actually get there.

    The tl;dr of my introduction thread (with additions which I feel have come into focus over the last few weeks) is thus;
    • Currently a contractor making 'decent' money.
    • Plan has always been to stockpile the money as it came in with a view to buying property to let out on a HMO (house of multiple occupancy - basically by the room) basis so as to ramp up the returns and cover my monthly bills.
    • Grow the contracting business to the point I am taking on staff, winning contracts and having them fulfilled within the company. This would be my fastlane venture, where I gear up towards an eventual sale.
    But I'm less than settled on this approach and I plan to use the first few posts within my progress thread to dive into a few questions I have clouding my vision right now. No action, more wheel-spinning, I know, I know... I'll try and get this all out of my system in the next few days so that the good fellows of the forum can pan me for action-faking and kick my arse into making more of an effort. Nevertheless, here's some of the grit I want to dig into.
    • What is 'decent' money? Am I really making it and how does it push me forward, or hold me back?
    • Does my plan to buy property to cover the bills make sense? Is it necessary or will it just demotivate me?
    • Does growing the business make sense? Can I even make that happen? Do I want to?
    • Shiny object syndrome? Does that product idea I have make everything else irrelevant?

    In an effort to move through this swamp of shit I feel holding me back I'm going to blitz out as many of those sub-posts as I can right now. I'm not asking for anything. I don't mind if this progress thread is an empty cavern of my thoughts until the point it warrants anything else. But any and all feedback, roasting, criticism, encouragement, or ass-kicking is hugely welcome.
     
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  2. RedKiteKid
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    Before I dive into those questions I'm asking myself, a quick note on my thread title. I don't have kids, I don't even know if I want kids, but I have found one image to be hugely motivating when I needed to take action in the past. When I was finally able to quit my job and leave to be a contractor I imagined sitting at a breakfast table with those same non-existent children and telling them how important it was to take control of their lives, to own their decisions, and possibly the merits of working for themselves. I imagined telling them all that when I had done none of it, when I had rotted in that job for so many years already and (in this future dream world) was still there doing the same. It drove me to my resignation and it has fuelled me forward since.

    Apologies if anyone clicks the link expecting something else, I just thought it would motivate me again to see it here whenever I have something to update.
     
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  3. RedKiteKid
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    RedKiteKid Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    What is 'decent' money? Am I really making it and how does it push me forward, or hold me back?

    I've always been fairly content, even back on my old £35k a year salary (on a four day week) I had enough to pay the bills, follow my football team, go on a few holidays a year, do whatever I wanted without worrying about dipping into an overdraft or having to go short the next month. I suppose I never splashed out on an overpriced house or a brand new car and the holidays weren't 5 star long huals to exotic locations and £35k is maybe a little above average but I wouldn't say I was living frugally or missing out particularly. It was the time bondage that I hated, the lack of freedom and the grind of working for someone else that drained me more than anything else. I always had this dream of working for myself, being my own boss, and ultimately retiring early, way early. But I dithered and dallied and it took me eight or so long years to take the next step.

    My first few weeks in the forum I saw thread titles about making $10k a month building websites, $15k a month copywriting, $20k a month selling ice to eskimos,... and the glittery titles caught my eye and I dived in and I'll admit my head was spun and I started wondering whether I might do the same. But a few things struck me; firstly I already invoice £10k a month in my current contract and that should grow in a few months time so yeh, on the headline figures I guess I make decent money (it doesn't even feel like I had to put in much effort to get here), secondly I devoured those threads and understood the true meaning of those headlines and I don't need to tell you they are all on process (I wish I had some to share from my own experience, but honestly I'm just winging it from day-to-day), and thirdly I realised that a lot of these shiny new gigs were much the same as I find myself in now, another job - a 'decent' paying job perhaps, but you've still got put the hours down to earn your share. And so I think that's why those headlines caught my eye; I'm still stuck - bonded to a corporation that gets to tell me what to do because it is them ultimately that pay the wages.

    I would be lying if I said my expenses hadn't increased a little following the bump in income, but not dramatically, certainly not in line with the rise. So now I feel like I'm paid decently, still have controlled expenses, and am stashing a bunch away for stage 2 I mention above (buying investment property). But that just makes me a well paid slowlaner, right?

    So how can any of this possibly make me feel like I am held back? I guess it's the SCRIPT doing the driving. I've got the well paid job, I'm saving a good chunk, I'll be making investments, those will pay for my retirement, but I've just got to keep working until I've got enough to cover the bills each month, and then enough so that the other half can stop working, and then enough so that I can actually have an enjoyable early retirement not just the sort-of-frugal-but-also-kind-of-not-frugal existence that I've lived up to now. So even if I am decently paid, and let's face it around these parts £10k a month with little opportunity to scale might not even be considered that, I can still see this SCRIPT laying out ahead of me long into the future.
     
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  4. GMSI7D
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    i stay here to give thanks and money to people.

    i said in the topic "fuck this event " that i won't be rich so i have to leave this forum instead of making a fool of myself



    but in fact, i can't leave without giving motivation to people : thanks, money


    so how much do you want ?
     
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  5. RedKiteKid
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    RedKiteKid Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Phase 2: Buying property
    Does my plan to buy property to cover the bills make sense? Is it necessary or will it just demotivate me?


    This life I've been living where I've been able to do what I wanted and not worry about dipping below the line (leaving to one side whether I actually have been able to do whatever I wanted to do) it's been so easy. I have been told before that I lived a charmed life, and it has stuck with me because maybe it's true, maybe things just go my way, I embrace it. A lot of luck is really just situational, make the right choices in any given situation, or learn when you make the wrong ones, and make enough decisions and I'm sure things happen for you. But then maybe I do really live a charmed life; I don't have one of those rags to riches stories; I've never slept on a friend's sofa because I couldn't afford a place to live; I didn't grow up crammed in a bedsit with my parents and four grandparents (sly Charlie and the Chocolate factory reference for you there); and I've never been down to my last pound and close to being turfed onto the streets (save for a few mismanaged cash flow incidents).

    Do those things matter? Probably not. Except here's my fear with phase 2. I think the comfort that has given me has left me seriously lacking in the fire under my ass, the burning platform, that pushes many people to achieve so much. I cannot begrudge my upbringing or my situation, I know many would be happy to start from where I am, and yet I fear that achieving phase 2 (which I plan to make happen in as little as the next 18 months) will just dampen the fire further. Comfort and contentment breeds comfort and contentment. I suppose those harrowing ghost children, undoubtedly looming ever closer by the time I achieve this goal, may just push me to keep going one more time!

    So am I still a slowlaner at this point? I'm not talking about buying a single family home, giving it a lick of paint, renting it out with a little extra coming in each month, and then sitting back hoping that house prices rise over the next 30+ years. This will be sourcing the right kind of deal, doing the necessary renovation, and then renting by the room rather than as a single family home. It's not exactly void of my time but I'm determined to take a more value adding approach to my property investments; to hopefully skew them into a more fastlane value proposition. Hopefully lady luck shines on my decisions once more, and hopefully she douses my fire with gasoline rather than water.
     
  6. RedKiteKid
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    RedKiteKid Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    I have not been here long. I only had $118 of Rep. But I've transferred it to you so that it will take you that little bit longer to get rid of it all. I hope it means you stick around a little longer.
    (So that you can get more from this forum, not to torture you,...)
     
  7. GMSI7D
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    are you kidding me ?

    i am now the fool of the forum

    [​IMG]


    so do you understand this social engineering lesson ?

    yes or no ?


    by the way, i will give you back your money
     
  8. RedKiteKid
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    RedKiteKid Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Social engineering lesson?

    I have no idea what is going on mate!

    Edit: you sent back too much, but in the spirit of social engineering, and not wanting to start a tennis match, I'm keeping it!...
    Colour me both grateful and motivated.
     
    Last edited: Jul 9, 2017
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  9. GMSI7D
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    well i will explain

    life is kind of absurb indeed


    a lot of things are counter intuitive in life

    this is explained in this book

    36.jpg



    what we just did is applying one of the 36 stratagems:


    " to catch something , first let it go "

    translation : he who cares less , wins


    in life we have to go for what we want but not care too much about the results

    that's counter intuitive


    think about your life : your dating life, anything

    the odds are you got a lot of results while not caring that much about the results

    and when you care too much, you are nervous and you don't get what you want

    this is a paradox

    but life is kind of a paradox in itself
     
    Last edited: Jul 9, 2017
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  10. RedKiteKid
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    RedKiteKid Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Thank you, now I understand. I know this from my own life too. Things are easier when you are not concerned with the result.

    So is this also why you intend to leave the forum? To take your eyes off that which you crave that it might be delivered to you?
     
  11. MJ DeMarco
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    Admin Post
    Who are you talking to?
     
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    I feel like I'm in the Twilight Zone.

    He's talking to @GMS17D. Or at least I think so.

    I hope we're not the only two who can see his posts. :eek:
     
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    Duh on me.

    I have that user on ignore, so it looks like he's talking to himself. My bad.
     
  14. jasoncuellar123
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    LOL! Not a list I want to be on
     
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    LOL

    i can't really understand why they are" ignore list " on this forum

    if you don't like a user , just fire him instead of " ignoring him "

    this is really stupid

    well, i have good news for gods like MJ Demarco

    the financial system won't sustain your " unscripted attitude" for very long

    at least, posterity will say who was right

    MJ Demarco or me

    i already know the answer
     
  16. jasoncuellar123
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    [​IMG]
     
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  17. RedKiteKid
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    Does growing the business make sense? Can I even make that happen? Do I want to?

    Contracting, doing what I was doing but for a few more pennies. I enjoy the challenge, I enjoy the feeling I'm giving more than I ever did in my old job, I enjoy knowing those few more pennies are going to get me to freedom sooner. But do I really want to grow this into a full scale business, take on employees, hunt out contracts and parachute in my people to do the work? Train them, pay them, mollycoddle them when they're feeling blue?... I need to banish those thoughts, it's not about what you want, it's about what you can give, right? And ultimately it's about building a business that can fund a money system, not a passionate pursuit, right? Maybe a NECST analysis makes most sense here (is it NECST or CENTS these days?) just so I feel like I know what I'm shooting at.

    Need: I contract configuring warehouse management systems for big distribution chains. Product modifications from the supplier are really expensive and incur lots of ongoing costs so I fill a need by being able to configure the system in such a way that the modifications aren't necessary and the system is more easily managed internally going forward. That delivers cost savings and efficiency gains for my clients, and there's always something to do.

    Entry: Does contracting really have barriers to entry? I suppose there's the knowledge accumulated over the years but there will always be someone racking up that experience and a steady stream of new and existing contractors battling for the next customer. Does the ultimate move to a contracting company provide further barriers to entry in terms of what it takes to establish a company of size and credibility. Perhaps. I feel like this is one of the shakier foundations though especially given that you are positioning yourself somewhere between the actual software provider and the one man band contractor.

    Control: I work with one warehouse management system from one system provider, just because it's where my background is. What happens if they go bust and the market for the contracting in that software vanishes overnight (actually that might prove a positive step if escrowed software is moved into the hands of the actual companies that use it...). More likely (and already planned) is a product roadmap that slowly degrades my knowledge and understanding of the product, but in all truth that again is just more opportunity as customers upgrade to the latest version which will never be too dissimilar to the current. At least there are a broad range of customers I could pitch to, and this is software used globally so by sheer diversification of markeplaces there should always be some custom if I play it right. This one swings both ways, and mostly upwards if I have my glass half full head on, which I usually do.

    Scale: Alluded to this a minute ago, the parent software company has plenty of customers which means I do too. And because a lot of them are big name chains I feel like both scale and magnitude come into play, maybe more magnitude given that it's still hours on the clock it's just that I'm rubbing shoulders with big players.

    Time: Yes I can probably extract myself from it but it's a people-system by and large so will I ever manage to extract myself from a managerial role, and God knows I don't want to be doing that forever. Again a little shaky.


    This could go either way and I know deep down that if I just keep working at it it will start to feel more like something I can turn in to a full-on business but for the time being it just feels more like a job. I still have to deal with the same bullshit, it still sucks my hours, two or three days of the week someone tells me I have to be somewhere, the other two I work from home but I still have to be pretty much chained to a desk. Long story short I think: it's a job, treat it like one, appreciate the income, try and build it into a business if the opportunity presents, but also keep your eyes open for hustles and value opportunities that can speed things up. Need to get off but I want to revisit how this jives alongside the property investment side of things too.

    Cheers if you're reading this, it must be boring as hell....
     
  18. RedKiteKid
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    Shiny object syndrome? Does that product idea I have make everything else irrelevant?

    Even I'm bored of all this thumb twiddling now but I want to finish the brain dump I started on last weekend. So I've introspected on lot on my current job, and the property investment master plan I've been hauling around for years but never actually taken steps to achieve. But what about all those shiny glinting objects in the corner of my eye. This forum is a treasure trove of 'things I could try', some even have treasure maps to follow, lessons to learn, and the process to inspire. And of course I have a product idea bubbling underneath, one I think has soft proof (if I've understood soft proof well enough) and so do I just tilt away from all of that and follow something completely new, follow the breadcrumbs left by others, what could that yield? But at what point do all these things become too thinly spread, do I need all of them, and would the property investment be the one to drop, in the light of what this forum stands for and what I think that could achieve.

    Weighing in to all that is the fact that I had a 'Fuck This Moment' this week. A day where everything got too much and I just wanted to jack it in. Where the customer was piling too much on me, giving me 20 hours of work to do in the next 20 minutes, twisting me left, right, and upside-down. Where I felt like I couldn't even do the job, let alone do it well. Renew my contract? I wasn't even going to see out the month, and to hell with a business doing this shit. What was I thinking!? But, something stopped being a 'Fuck This Event' and maybe even a turning point? The following few days. I realised part of what was making me feel so lousy was that I was failing to deliver on my promise to my customer. To hell with what they were piling on to me they had every right to, I'm prostituting out my time and they deserve to get my best. So I'm throwing myself in. I'm pushing hard to do good work and deliver value for my customer. I know it's time prostitution for now but that's the way it always starts. Graft with the end goal in mind, just don't let it become the job I am trying to avoid. And as I said in my intro thread, maybe there's no reason for me not to pursue all three at once. So this is where the progress thread really starts.
     
  19. Jess Grey
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    Ha! This is too good.
     
  20. NewYorkCity
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    I could have easily done something in college had I not cut everything so short....

    The max did something I would spend a month then quit. At one point I had two or three copywriting clients at which point I gave up some of which are still big.

    I should have kept going..... really that is one of the keys if not the only key to success.

    Then after college I worked on teams doing multi-million dollar deals and learned how long it really took to get a client and make a deal. It can take YEARS to just GET the clients. The real $$$ comes 2-5 years after initally contacting them.

    If you can commit six months to a year on a project you'd have a lot of success I'd wager.

    1. Find an area that has money. Find somewhere where you don't mind working your entire life.
    2. Spend 6 months to 2 years learning the game.
    3. I'd say you have a really good chance at making it in that case.
     
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  21. RedKiteKid
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    Thanks for the encouraging words. My experience sounds a lot like yours, never having managed to commit to something for a long period. But here I should be able to find the value opportunities and build if I just stick at it long enough.
     
  22. NewYorkCity
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    I mean I finished quite a few things.

    But in terms of entrepreneurship. You at least have to work on something 10-20 hours a week. There is no free lunch unless you somehow get equity for some reason while everyone else does the work (You have specialized knowledge from years of exp??? Not sure).

    It's the same reason so many guys keep their day jobs. Find something you like and get really good at it. Long enough to see yourself in that space for at least a few years.

    Most businesses aren't profitable until a few years in.
     
  23. RedKiteKid
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    Of course, apologies for casting my life onto yours based on a few lines of text!

    My contracting 'business' is up and running and making money in a 'trade my time' kind of way, getting clients for me singularly doesnt seem to be a problem, but building the type of trust and team to win and deliver on, say a 7-figure contract, then that takes time and groundwork as you say and its that that I have to see myself working on now. The way to grow it is to take on someone to train alongside me, at which point that profitability dwindles significantly but it does start the ball rolling on the bugger picture. Am I ready to take that plunge?

     
  24. NewYorkCity
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    Haha you tell us.
     
  25. RedKiteKid
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    :) rhetorical question of course! I will keep moving forward.