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Cipherkee

PARKED
Dec 15, 2020
2
0
1
Hello, I would like to have some clarifications with this entrepreneurial journey I have been a silent reader for sometime and read TMF and US. By the way, just a bit of background of myself, I came from a middle-class family and currently work as an IT professional in a third-world country, Asian region to be specific. Currently, I do not have any wealth source apart from my profession (human capital) and I also do part-time consulting for 2-3 companies although this is not the ideal way (My time is tied to me being there to solve a problem.) I also do side and site IT infrastructure projects installation but this is seasonal (If there is no demand or need, then no project so definitely not really a viable wealth equation). I don't live paycheck to paycheck but I desire to have more autonomy not for myself but for my family. I have been in this cycle and generation were money was taught as a means of survival and I meant to break that cycle for my future family because I strongly believe there is more than the usual mundane tasks that we do and believe that we all desire money because more money = more buying power = more buying power = better choices = better choices = better lifestyle without the forbearance of price.

I am aware that in a third-world country where I currently reside, the script is strong at play, and a lot of people are really lost with the traditional and conventional advice/mindset of getting rich is by going to school, having good grades and climbing the corporate ladder or going to school and migrating to a first world country to improve your chances of success. Anyway, I do not have a problem with the mindset that money is bad, rich people are greedy, etc. I understand that money/wealth is a byproduct/result of undergoing the process in this case what I call entrepreneurial journey or service/contribution to the community.

Along the way, I have grasp the fact that at its core entrepreneurship is about problem-solving, self accountability, endless learning and decision making. I also grasp the fact that it is not enough that we all have a passion, because I believe all of us have passions and core gift, but at the moment we just do not know if it will make/earn us money. Now I also understand that I really need to be good at solving problem for other people and have the right mindset from where personal development comes at play. Theoretically, if we chase or go/solve after a need in the market place and scale it, money will flow our way.

Now for my question: Would it be possible to directly jumpstart or find a need without fixing first the internals? (mindset) and call yourself lucky, or do you need first to fix the internal (mindset) so you could actually see the need or this is a just a self-validation to feel good that you are on your way to your financial freedom? A more concrete example: A specific beverage is a thing in our country, and I had successfully ride the wave of demand and made money for myself (without really understanding the purpose of money) but I never underwent the process of personal development so therefore I consider myself lucky? or I have been working on myself (personal development) to have the right mindset about money but never started/executed any wealth stream and missed the wave of the beverage business but told myself there are other streams for me in the future? Could the two mindsets co-exist or are totally independent from each other? or do you need both? if you need both, where do you begin? do you fix the internals first or do you find the need? or do you find the need then you fix the internals?

My other question would be the environment, I personally envisioned myself that I wanted to start a Technology Firm that will cater a specific group, I had read that MJ in his personal story, moved to another state until he was able to do well, where in fact from where I currently reside, there is a low demand for technology and people are still working the traditional way and have not fully grasped technology. Its like I feel bad for this guys, and told myself there are efficient ways of doing things but the resistance to change is so high and the skepticism is through the roof in embracing such solutions. Do I need to relocate elsewhere where people will believe in the solutions or do I have to push myself to this skeptical people until I get them to embrace the solution?

I know that for all of this, CENTS framework, execution and speed will play a vital role in the success and endless planning will lead me to a decision paralysis. Do I just execute right away without proper thoughts of the missing elements or do I plan carefully with the risk of losing the demand or missing the wave but doing the business one step at a time?

Sorry for the lengthy post. This is my current struggle. I share the same FTE events, same failures and would like to know if someone also shared the same journey/story with me. I would like to hear yours and be soaked up to new perspectives.

Thank you so much!
 

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Nick Catricala

New Contributor
May 24, 2017
9
8
13
75
Canada
Hello, I would like to have some clarifications with this entrepreneurial journey I have been a silent reader for sometime and read TMF and US. By the way, just a bit of background of myself, I came from a middle-class family and currently work as an IT professional in a third-world country, Asian region to be specific. Currently, I do not have any wealth source apart from my profession (human capital) and I also do part-time consulting for 2-3 companies although this is not the ideal way (My time is tied to me being there to solve a problem.) I also do side and site IT infrastructure projects installation but this is seasonal (If there is no demand or need, then no project so definitely not really a viable wealth equation). I don't live paycheck to paycheck but I desire to have more autonomy not for myself but for my family. I have been in this cycle and generation were money was taught as a means of survival and I meant to break that cycle for my future family because I strongly believe there is more than the usual mundane tasks that we do and believe that we all desire money because more money = more buying power = more buying power = better choices = better choices = better lifestyle without the forbearance of price.

I am aware that in a third-world country where I currently reside, the script is strong at play, and a lot of people are really lost with the traditional and conventional advice/mindset of getting rich is by going to school, having good grades and climbing the corporate ladder or going to school and migrating to a first world country to improve your chances of success. Anyway, I do not have a problem with the mindset that money is bad, rich people are greedy, etc. I understand that money/wealth is a byproduct/result of undergoing the process in this case what I call entrepreneurial journey or service/contribution to the community.

Along the way, I have grasp the fact that at its core entrepreneurship is about problem-solving, self accountability, endless learning and decision making. I also grasp the fact that it is not enough that we all have a passion, because I believe all of us have passions and core gift, but at the moment we just do not know if it will make/earn us money. Now I also understand that I really need to be good at solving problem for other people and have the right mindset from where personal development comes at play. Theoretically, if we chase or go/solve after a need in the market place and scale it, money will flow our way.

Now for my question: Would it be possible to directly jumpstart or find a need without fixing first the internals? (mindset) and call yourself lucky, or do you need first to fix the internal (mindset) so you could actually see the need or this is a just a self-validation to feel good that you are on your way to your financial freedom? A more concrete example: A specific beverage is a thing in our country, and I had successfully ride the wave of demand and made money for myself (without really understanding the purpose of money) but I never underwent the process of personal development so therefore I consider myself lucky? or I have been working on myself (personal development) to have the right mindset about money but never started/executed any wealth stream and missed the wave of the beverage business but told myself there are other streams for me in the future? Could the two mindsets co-exist or are totally independent from each other? or do you need both? if you need both, where do you begin? do you fix the internals first or do you find the need? or do you find the need then you fix the internals?

My other question would be the environment, I personally envisioned myself that I wanted to start a Technology Firm that will cater a specific group, I had read that MJ in his personal story, moved to another state until he was able to do well, where in fact from where I currently reside, there is a low demand for technology and people are still working the traditional way and have not fully grasped technology. Its like I feel bad for this guys, and told myself there are efficient ways of doing things but the resistance to change is so high and the skepticism is through the roof in embracing such solutions. Do I need to relocate elsewhere where people will believe in the solutions or do I have to push myself to this skeptical people until I get them to embrace the solution?

I know that for all of this, CENTS framework, execution and speed will play a vital role in the success and endless planning will lead me to a decision paralysis. Do I just execute right away without proper thoughts of the missing elements or do I plan carefully with the risk of losing the demand or missing the wave but doing the business one step at a time?

Sorry for the lengthy post. This is my current struggle. I share the same FTE events, same failures and would like to know if someone also shared the same journey/story with me. I would like to hear yours and be soaked up to new perspectives.

Thank you so much!
Tooo much brain work.. but is ok, that is my opinion... and talking about opinion.. here is a quote that may help you to move NOW:
“Do not wait: the time will never be 'just right'. Start where you stand, and work whatever tools you may have at your command and better tools will be found as you go along.”
― Napoleon Hill
 

Cipherkee

PARKED
Dec 15, 2020
2
0
1
Tooo much brain work.. but is ok, that is my opinion... and talking about opinion.. here is a quote that may help you to move NOW:
“Do not wait: the time will never be 'just right'. Start where you stand, and work whatever tools you may have at your command and better tools will be found as you go along.”
― Napoleon Hill

Thank you Nick, I was just wondering if any of these elements/pre-requisites could be missing before you could really jumpstart a business. Also, regarding environment, if it will really be a big factor in starting up a wealth stream. Appreciate your response :)
 

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