How can I get to Chillville?

[Robre]

Hello everyone. My goal is simple. I want to be able to retire in 10 years. I want to be wealthy enough to do what I want, when I want. In 10 years I will be 41. I think that's young enough to have a lot of fun.

My dilemma is not my goal by any means, it's the execution. I guess what I need is a bit of guidance. I'll start by saying that I am about 25k in debt. I work at a job I hate, and I feel like my wheels are stuck in a rut. They are spinning but I am not going anywhere. How do I go about changing 25k of debt to a few million bucks? Is it possible for an average guy like me? I have no business plan, a few ideas, but I don't see these ideas as being super successful yet. Do I need new Ideas? A business model? I don't even know what a business model looks like.

I had an idea of installing home theaters, computers, TV's, Blue-rays, and any other electronic system you can think of. I am good with my hands. Do I start this as a side job while I keep working for the man? Is this even a market? Best-Buy does it with Geek Squad, but I don't think anyone else really does it. Do I start small and once I start getting a good base, do I start outsourcing? Do I hope my business grows and I sell it to major retailers in the area or even the continent? I have never had an employee before. Do I only hire someone once I have steady work for them?

Obviously I need some guidance and advice. I thank anyone who is able to guide me in the proper direction.

 

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[MJ DeMarco]

I had an idea of installing home theaters, computers, TV's, Blue-rays, and any other electronic system you can think of.

RussH has extensive experience in this area -- I think he will tell you that it isn't very Fastlane and yea, scale is an issue.

Obviously I need some guidance and advice. I thank anyone who is able to guide me in the proper direction.

I suggest my book -- I consider it to be the blueprint for exactly what you are trying to do. Of course, don't take my word for it ... listen to what others are saying.

I'll start by saying that I am about 25k in debt. I work at a job I hate, and I feel like my wheels are stuck in a rut. They are spinning but I am not going anywhere.

That is because you are working hard in a mathematical wealth equation that is weak, and fails most of the time. If you want to change your probabilities, you have to change your equation and the universe in which you are operating.

Welcome to the boards!

 

[Michael W.]

I suggest my book -- I consider it to be the blueprint for exactly what you are trying to do. Of course, don't take my word for it ... listen to what others are saying.

Ill second this. It's a great book MJ!

 

[MikeC]

Ill second this. It's a great book MJ!

Third. Read the book. Yes, I'm a fanboy.

 

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[lightning]

Since you are in debt and low on cash, getting that straightened out is priority one. Once you have a nice clear base to work off of, you will find yourself less stressed and more open to opportunities as you will have nothing holding you back (as someone that once had $8,000 in credit card debt due to poor decisions in college, let me tell you that it is TAXING on your brain). It clouds your mind, and can seem overwhelming even though with DRIVE and discipline, you could probably be out of debt much quicker than youd imagined. What you need to do is sit down and lay it all there (perhaps you have a spouse or parent or sibling or even a professional who can help you). Figure out where your monthly income is going in regards to your lifestyle and debt, and see if you can set up a budget to get some of that $25,000 paid down. The closer you get to being debt free, the happier you will be.

As for your fastlane mindset, I agree that reading MJ's book is a great way to start. It will not only give you a blue-print of how you might be able to accomplish what you are looking to do, it is also very inspiring and will empower you to TAKE ACTION!

Heres an idea for you; What if you made a 60-minute "How to" DVD entitled "The Average Joe's guide to installing Home Electronics". Get someone with some video/editing experience to film and produce it for you, and start looking for a way to market it. If the video does what it is supposed to, you can up-sell them at the end of the video to your more specific install vid's (one for computers, one for TV's and home theatre systems, etc.). Information video is a hot sector right now, however, you will have to do your research as ALOT of stuff is now available for free on-line (sites such as youtube can be a goldmine for this stuff). Watch all of the FREE videos out there and determine what YOU can do differently to give the customer more value for their time! (and later, more value for their money! ).

Good luck.

-Mike

 

[Robre]

Thanks for the advice! As for my debt, it looks a lot better then it did last year. I was 42k in debt. I have a repayment strategy that is working wonders. Haha, maybe I should write an E book on that to help pave my way out of debt. See I am not short on ideas, the thing with me is execution. I am moving today so I will be busy but I will get the book next week.

 

[MJ DeMarco]

How do I get to Chillville?

You take a grueling roadtrip that may take a few years to travel -- it will test your wits, resolve, and your desire.

 

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