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HOT TOPIC How to Recover from 50k in Debt?

Jfinley

About Time You Showed Up!
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Mar 16, 2016
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Hey Fastlaners,

I need your advice.

9yesm9ve read Unscripted and Millionaure Fastlane

I’m 35, 50k in debt and have no credit, but I’m a fighter! Right now life has me on the ropes. I’ve pushed for 15 years to “make money online” without any results EXCEPT Ive learned how to build, design or maintain majority of the top 1% systems and tools,used online.

My Delimma:

I owe IRS 10K and student loans 40K. I have no assets, no leverage and no family (orphan) and seemingly not enough of ___________ to build a real fast lane business.

What advice do you have for someone with great potential, but can’t seem to put it together. I don’t want to be on my death bed regretting life. I grind hard daily creating things and trying to solve,problems with high Impact, but I never gain traction.

I can build websites, setup software and run entire business online, but when I try to market those services I get killed,by competition or lack or past “happy clients” tried,to stuff for free but people act as if there’s a catch or don’t commit to the process since they aren’t paying. Lots of wasted time and money.

I have a great story to share that I feel is inspiring, but speaking and coaching hasn’t led to any real results besides free speaking gigs and a few freebies here and there.

What am I missing?

My spouse wants a home and vacation every now and then. She’s tired of every penny going towards dreams that fail, BUT will always give more if she sees I’m grinding.

What should I do to turn this all around?

I don’t want to go back to school, but she wants stability after 15 years of unwavering support. Stability or results.

I’m past the money motivation at this point. Now I want to be successful for the sheer sake of saving my manhood and self respect for myself. Money is a result. I’m in love with the process and I’m willing to keep fighting til the end, BUT I can’t deny 15 years with nothing to show for It has this warrior questioning his battle plan.

Any advice?
 

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OP
OP
Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
72
113
37
Austin, Texas
Get a job. From within your job, look for opportunities and niches in that industry that you could operate on the side. Scale up from there.
I work full time. Not sure if that came across. I sell car insurance. Work 40hrs a week like the rest of the slowlaners.

Trading time for money isn't the solution as we know.
 

msufan

Bronze Contributor
Read Millionaire Fastlane
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Mar 13, 2013
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I work full time. Not sure if that came across. I sell car insurance. Work 40hrs a week like the rest of the slowlaners.

Trading time for money isn't the solution as we know.
Perfect! I would stick within the insurance industry for my side gig then. What are the pain points within the industry? What would insurance companies pay good money to have done for them? Is there something that you could do more effectively than what is typically done?

I'm imagining that we could try to make the insurance companies (such as the one you work at) become your customer for something. What could that thing be?

Could you become drone-certified and make yourself an exceptional claims adjuster? (Meet Your New Claims Inspector: A Drone)

Could you use niche marketing to enhance sales even within your own (presumably commission-based) job? For example, could you create a landing page to focus on people with very high-end cars that gets potential leads directly to your email or phone number?

Not all business need to start in your area of expertise, but after 15 years of trying and not finding success, I'd start with that, personally. Very interested to hear others' ideas as well.
 

TheOrchestrator

Freedom Fighter
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2018
59
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Houston, TX
I work full time. Not sure if that came across. I sell car insurance. Work 40hrs a week like the rest of the slowlaners.

Trading time for money isn't the solution as we know.
Sure, but the solution isn't trading in your marriage either, is it?

Bro, if your marriage is just as important to you as the other things you are fighting for, then you are just going to have to find a way. Trust me, I know how you feel. I'm currently doing side hustles along with my full time job to build enough side income to convince her that I'm serious, and that this is really possible. She's been slowly coming around, only after seeing some progress, but I've still a long way to go. By the way, this is ALL while being a husband AND a father who is just as serious about not destroying my relationship with my family in the process. You don't have children, so you've got an advantage over me, and a higher likelihood of pushing past me. I recommend sitting down with her and figuring out ways to meet both of your needs, which will likely require some serious compromises on both sides. But still, even after that, before she's ready to fully jump on the bandwagon, she's going to need to see actual tangible progress, and it's not fair to expect anything else otherwise from her, especially if she's sacrificed years with nothing to show. It's not her dream, man. It's yours, so you can only expect so much help from her.

Of course, I'm saying this with the assumption that you actually love this woman and want it to work out.

But if this is really just a veiled outcry of frustration and regret, that's cool too. I hear you, man. Just hang in there and keep going. We can do this.
 
Last edited:

Jason "GrandK"

Bronze Contributor
Read Millionaire Fastlane
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Jun 17, 2018
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Pacific Northwest
Hey Fastlaners,
Hey there Jfinley. Have you read MJ's books? It looks like you have been a member for 2 years but just now decided to post. Have you reached your breaking point, that place where you say no matter what I am going to succeed? What other ways are you growing and learning and developing your greatest asset, i.e. yourself?
 
OP
OP
Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
72
113
37
Austin, Texas
Sure, but the solution isn't trading in your marriage either, is it?

Bro, if your marriage is just as important to you as the other things you are fighting for, then you are just going to have to find a way. Trust me, I know how you feel. I'm currently doing side hustles along with my full time job to build enough side income to convince her that I'm serious, and that this is really possible. She's been slowly coming around, only after seeing some progress, but I've still a long way to go. By the way, this is ALL while being a husband AND a father who is just as serious about not destroying my relationship with my family in the process. You don't have children, so you've got an advantage over me, and a higher likelihood of pushing past me. I recommend sitting down with her and figuring out ways to meet both of your needs, which will likely require some serious compromises on both sides. But still, even after that, before she's ready to fully jump on the bandwagon, she's going to need to see actual tangible progress, and it's not fair to expect anything else otherwise from her, especially if she's sacrificed years with nothing to show. It's not her dream, man. It's yours, so you can only expect so much help from her.

Of course, I'm saying this with the assumption that you actually love this woman and want it to work out.

But if this is really just a veiled outcry of frustration and regret, that's cool too. I hear you, man. Just hang in there and keep going. We can do this.
Yes, I've been a member for a while. The introvert in me doesn't share much.

I do have kids and that are 17 and 14 and she has two little ones as well. I do love her and we're a true Bonnie and Clyde.

I bear what you're saying. You just gotta push through. I'll never give up, but you're right...I need results and I MUST do whatever it takes to continue to be a husband, father and role model.

Freelancing seems like my most viable option while working. Reading all the posts there to create an exit plan from this 9-5 and destroy these hyperrealities
 
OP
OP
Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
72
113
37
Austin, Texas
Hey there Jfinley. Have you read MJ's books? It looks like you have been a member for 2 years but just now decided to post. Have you reached your breaking point, that place where you say no matter what I am going to succeed? What other ways are you growing and learning and developing your greatest asset, i.e. yourself?
Breaking point isn't even the word. I've broke down and broken through on multiple occasions in life, but not in business. Today I mainly read books for specific knowledge and YouTube for motivation and so on. Books are my priority.

I'm upgrading my membership to get to the locked posts and start to FIX this. I'm healthy, smart, dedicated and teachable.

There's no reason I should be failing. MJ opened my eyes and confirmed the truth - there's a better way.
 
OP
OP
Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
72
113
37
Austin, Texas
Breaking point isn't even the word. I've broke down and broken through on multiple occasions in life, but not in business. Today I mainly read books for specific knowledge and YouTube for motivation and so on. Books are my priority.

I'm upgrading my membership to get to the locked posts and start to FIX this. I'm healthy, smart, dedicated and teachable.

There's no reason I should be failing. MJ opened my eyes and confirmed the truth - there's a better way.
Upgrade done.
 

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TheOrchestrator

Freedom Fighter
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2018
59
200
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Houston, TX
First step I’d recommend is to cancel your motivational YouTube videos, books, or any other material that is meant to “motivate” you. Contrary to what many people think, you don’t have a motivation problem. In fact, motivational videos can potentially be dangerous to your motivation. Motivation is primarily fueled by pleasure (the desire for future and/or continued satisfaction) and pain (the desire to cease or avoid pain).

If you have enough pain from your current situation, then don’t snuff it out by getting lost in “motivational” content or “inspiring” literature. Just like video games, drugs, sex, porn, or anything else, it has the potential to become just another addiction. Excessive engagement in anything that makes you “feel too good” can easily kill all of the mojo that initially gave you your drive, because it temporarily “satisfies” you, thus killing the need to do anything anymore.

99.9% of your motivation should come from 3 things, your hatred of your present situation, your desire of a better situation (although don’t spend too much time focusing on it), and the day-to-day tasks that you successfully take in the direction that you want to go.

Really man, you don’t need motivation, you’re biologically built to motivate yourself, and you’ve got enough reasons in your own life to be “motivated”. Right now, you’re not “unmotivated” just tired and frustrated. Just take care of yourself, eat healthy, get sufficient sleep, express your frustrations to people who understand (like you’re doing now), then start thinking about the very next thing you can do to get back on track.

It’s okay to feel bad, man. Spend some time on self care, then quickly get back up and get moving.
 

lowtek

Platinum Contributor
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Ramen noodle diet until you pay off the IRS. Student loans are bad, but getting put in a cage because you didn't give the king his cut is worse.

Check out the thread on Deleting the upwork profile and starting over to get some extra income going. With your broad skillset, you should be able to make some extra coin on there.

While a money for time trade isn't fastlane, neither is the debt. Go Dave Ramsey style until you can get debt free, and then go MJ Demarco style to get rich.
 

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Real Deal Denver

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I admire your honesty and drive. Congratulations on reading MJ's books. You have taken the first steps which is great.

As someone who left the daily grind of a regular job 20 years ago, I can offer you some advice. I am not fast lane, but I'm working on it. It should happen within a year if all goes according to plan.

First of all, you have to use your talents. That means, simply, you have to do more. That is not going to be easy. I laugh at a few posts here from frustrated young people that have decided they want to own their own business of some sort, and be rich. They don't want to work for someone else and have a regular job. Don't we all.

So what can we do about that? Luckily, there are easy answers. But it isn't easy to implement them. I work 80 hours a week every week. It's no big deal. 12 hour days are easy, and I work weekends. Throw away any ideas you have of quitting work at 5, yet being very successful. Once you have done that, you are ready to succeed. You just need a vehicle to get you there. Ready?

As you will see, there are many threads here on ventures you could undertake. There are dozens of books on Amazon on how to start a side business as well. There is no shortage of information on how to make extra income if you are willing to work more. Once you pick a way to make more money, you can scale it up, step back, and grow it without doing all the work yourself.

Sounds so easy doesn't it? Well, it is. Let's take a few ideas that you could start up this week. They're not glamorous or high paying, but they are something that you can grow as a business. I know several people doing these side gigs that are making serious money. First - house cleaning. Easy work. Repeat clients. Here's how that works: call around and see what people charge for that. Find out what they do. USE the internet for something productive, which hardly anybody does. Then make a nice website and flyer and start knocking on doors in affluent neighborhoods. Market. Once you have a half dozen customers, hire someone to do the work, and repeat. Soon you could have 6-7 people working for you. I know people doing this. You can make $15 an hour from every person working for you. Times six.

Next idea. Same concept. Lawn mowing. I know a guy that does this as his only business and he makes great money.

I know a guy that buys cars cheap and resells them. If you know something about cars and have tools, this could be easy money. He fixes them up and sells them. Makes $800 and up per car. Huge demand. He's always busy.

I know a guy that "trades" cars with people when they need tires. He takes their car, gets tires installed, and gives them a loaner car to use in the meantime. That's it - and he is doing well. People hate waiting hours to get tires. He is branching out into doing oil changes on site at their home or office. Can you imagine how many of these you could do in an office area of ten story buildings? You could probably do at least ten a day - all within two or three blocks. Set up a "oil change day" for each building. Do this for 15 buildings - one building each day. There you go - easy business. I'd pay a premium for that.

I know people that drive Uber and Lyft and make a few hundred a day doing that.

Be a home inspector. Easy work and lots of it if you market.

There are a dozen things like this that can be started immediately with very little effort. Oh, but you don't want to work extra hours, or you don't want physical work? Fine. (not you - I'm being the devil's advocate) Then get another job and double your income that way. Right now I have two jobs and I'm working on my side gigs as well.

At one time I trained five people to do what I do. They all quit. The most common reason for quitting was they didn't want to work more than 9-5 M-F. Poor babies - I hope they're making lots of money in an easy job today.

In a nut shell - people are lazy. Take advantage of offering services that they can, and will, pay for. From there, build it up.

Once you start being successful on that level, then you can step back and build a real business that you can scale and make a ton of money. That's a different topic, that has been covered here extensively. This post is already too long, so that's enough to think about and get a plan going...
 
Last edited:

G-Man

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Ramen noodle diet until you pay off the IRS. Student loans are bad, but getting put in a cage because you didn't give the king his cut is worse.

Check out the thread on Deleting the upwork profile and starting over to get some extra income going. With your broad skillset, you should be able to make some extra coin on there.

While a money for time trade isn't fastlane, neither is the debt. Go Dave Ramsey style until you can get debt free, and then go MJ Demarco style to get rich.
This. Remember that scene at the end of Shawshank Redemption where Red is narrating Andy crawling through a shit tunnel to escape from prison? That's the kind of intensity you gotta take until you at least get out from under IRS. Prison diet intensity.
 
OP
OP
Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
72
113
37
Austin, Texas
First step I’d recommend is to cancel your motivational YouTube videos, books, or any other material that is meant to “motivate” you. Contrary to what many people think, you don’t have a motivation problem. In fact, motivational videos can potentially be dangerous to your motivation. Motivation is primarily fueled by pleasure (the desire for future and/or continued satisfaction) and pain (the desire to cease or avoid pain).

If you have enough pain from your current situation, then don’t snuff it out by getting lost in “motivational” content or “inspiring” literature. Just like video games, drugs, sex, porn, or anything else, it has the potential to become just another addiction. Excessive engagement in anything that makes you “feel too good” can easily kill all of the mojo that initially gave you your drive, because it temporarily “satisfies” you, thus killing the need to do anything anymore.

99.9% of your motivation should come from 3 things, your hatred of your present situation, your desire of a better situation (although don’t spend too much time focusing on it), and the day-to-day tasks that you successfully take in the direction that you want to go.

Really man, you don’t need motivation, you’re biologically built to motivate yourself, and you’ve got enough reasons in your own life to be “motivated”. Right now, you’re not “unmotivated” just tired and frustrated. Just take care of yourself, eat healthy, get sufficient sleep, express your frustrations to people who understand (like you’re doing now), then start thinking about the very next thing you can do to get back on track.

It’s okay to feel bad, man. Spend some time on self care, then quickly get back up and get moving.
Thank you. I appreciate the candor. I do need to relight my own fire by means of a viable idea and the pains you mention. I need to zen out, work out and get my mind straight. I can do this.

Thank you man. Appreciate it
 

TheOrchestrator

Freedom Fighter
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2018
59
200
144
36
Houston, TX
This. Remember that scene at the end of Shawshank Redemption where Red is narrating Andy crawling through a sh*t tunnel to escape from prison? That's the kind of intensity you gotta take until you at least get out from under IRS. Prison diet intensity.
Yep, and in that scene, I didn't see any inspirational quotes on the wall of the sewers or some "motivational coach" cheering him on during it, either.
 
OP
OP
Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
72
113
37
Austin, Texas
Ramen noodle diet until you pay off the IRS. Student loans are bad, but getting put in a cage because you didn't give the king his cut is worse.

Check out the thread on Deleting the upwork profile and starting over to get some extra income going. With your broad skillset, you should be able to make some extra coin on there.

While a money for time trade isn't fastlane, neither is the debt. Go Dave Ramsey style until you can get debt free, and then go MJ Demarco style to get rich.
Eliminating my IRS debt is #1. They are relentless and already threatening to garnish properties and paycheck
 

TheOrchestrator

Freedom Fighter
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2018
59
200
144
36
Houston, TX
Thank you. I appreciate the candor. I do need to relight my own fire by means of a viable idea and the pains you mention. I need to zen out, work out and get my mind straight. I can do this.

Thank you man. Appreciate it
You're very welcome, man. :thumbsup:
 
OP
OP
Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
72
113
37
Austin, Texas
I admire your honesty and drive. Congratulations on reading MJ's books. You have taken the first steps which is great.

As someone who left the daily grind of a regular job 20 years ago, I can offer you some advice. I am not fast lane, but I'm working on it. It should happen within a year if all goes according to plan.

First of all, you have to use your talents. That means, simply, you have to do more. That is not going to be easy. I laugh at a few posts here from frustrated young people that have decided they want to own their own business of some sort, and be rich. They don't want to work for someone else and have a regular job. Don't we all.

So what we do about that? Luckily, there are easy answers. But it isn't easy to implement them. I work 80 hours a week every week. It's no big deal. 12 hour days are easy, and I work weekends. Throw away any ideas you have of quitting work at 5, yet being very successful. Once you have done that, you are ready to succeed. You just need a vehicle to get you there. Ready?

As you will see, there are many threads here on ventures you could undertake. There are dozens of books on Amazon on how to start a side business as well. There is no shortage of information on how to make extra income if you are willing to work more. Once you pick a way to make more money, you can scale it up, step back, and grow it without doing all the work yourself.

Sounds so easy doesn't it? Well, it is. Let's take two ventures that you could start this week. They're not glamorous or high paying, but they are something that you can grow as a business. I know several people doing these side gigs that are making serious money. First - house cleaning. Easy work. Repeat clients. Here's how that works: call around and see what people charge for that. Find out what they do. USE the internet for something productive, which hardly anybody does. Then make a nice website and flyer and start knocking on doors in affluent neighborhoods. Market. Once you have a half dozen customers, hire someone to do the work, and repeat. Soon you could have 6-7 people working for you. I know people doing this. You can make $15 an hour from every person working for you. Times six.

Next idea. Same concept. Lawn mowing. I know a guy that does this as his only business and he makes great money.

I know a guy that buys cars cheap and resells them. If you know something about cars and have tools, this could be easy money. He fixes them up and sells them. Makes $800 and up per car. Huge demand. He's always busy.

I know a guy that "trades" cars with people when they need tires. He takes their car, gets tires installed, and gives them a loaner car to use in the meantime. That's it - and he is doing well. People hate waiting hours to get tires. He is branching out into doing oil changes on site at their home or office. Can you imagine how many of these you could do in an office area of ten story buildings? You could probably do at least ten a day - all within two or three blocks. Set up a "oil change day" for each building. Do this for 15 buildings - one building each day. There you go - easy business. I'd pay a premium for that.

I know people that drive Uber and Lyft and make a few hundred a day doing that.

Be a home inspector. Easy work and lots of it if you market.

There are a dozen things like this that can be started immediately with very little effort. Oh, but you don't want to work extra hours, or you don't want physical work? Fine. (not you - I'm being the devil's advocate) Then get another job and double your income that way. Right now I have two jobs and I'm working on my side gigs as well.

At one time I trained five people to do what I do. They all quit. The most common reason for quitting was they didn't want to work more than 9-5 M-F. Poor babies - I hope they're making lots of money in an easy job today.

In a nut shell - people are lazy. Take advantage of offering services that they can, and will, pay for. From there, build it up.

Once you start being successful on that level, then you can step back and build a real business that you can scale and make a ton of money. That's a different topic, that has been covered here extensively. This post is already too long, so that's enough to think about and get a plan going...
Oh my..laziness has never been an issue. I share the late nights of working after work. Welcome to th4 no days off club. Glad I'm not here alone.

I hear what you're saying. Find something I can start right away. May not be ideal but it will bring in income. Find a lazy need and capitalize on it.

Services are easier to offer and start due to my situation. I'm headed to the forums of 100 Unsexy Ideas and picking one. SINGLE FOCUS on one idea and make it work.

Thanks for the detailed response.
 

Get Right

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Can you tell us how your previous "failures" relate to the CENTS commandments? There probably is a pattern and we might be able to bring it out.
 
OP
OP
Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
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Austin, Texas
Can you tell us how your previous "failures" relate to the CENTS commandments? There probably is a pattern and we might be able to bring it out.
Since reading the books I've done:

1. Mobile SMS marketing for customer retention geared towards small businesses -mainly restaurants

2. Created several service based companies creating, managing and building online systems.

3. Dabbled in lead generation.

4. Forex trading for a while with inconsistent results

Since finishing TMF, my fastlane venture is building High Ticket Masterminds. Teaching coaches personal trainers and consultants how to build a passive income mastermind community.

I've built the entire site, created the workbooks, set up the entire community but my videos cost almost 3K to record and edit. Was going to switch to doing these live as a result and just get sponsors to pay for materials and event costs lowering my investment.

The thing is, I've never built a high ticket mastermind, but I have the skills and knowledge to make it happen. Gotta start somewhere.

My exit plan is to graduate students from the mastermind/workshop and have them start to lead their own workshops for me. I'll transition to "coaching the coaches" and get passive income.

From there I want to create a certification program of my workshops and have people license to use my brand and run their own workshops using my materials.

Any feedback?
 

MJ DeMarco

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Teaching coaches personal trainers and consultants how to build a passive income mastermind community.
The thing is, I've never built a high ticket mastermind,
Wuh?

Don't you see the problem here? The incongruity?

You're going to teach someone something you've never done yourself?

Sounds like you're still chasing money and claiming expertise without actually being an expert. There's enough of that crap already infesting the web.
 

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Get Right

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Ok cool, I'm starting to see some patterns. It appears to me that you are chasing money via hustles (not building businesses). A typical business (that works) looks like this:
  • Market - Identify the raving market that you want to sell to
  • Need - Find out what need(s) that market has
  • Product - Develop a product that satisfies the need of that market
 

TKDTyler

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I came out of college with 120k in debt + an additional loan due to my car breaking down. While I am still single, 120k+ in debt is no joke, especially living out in the Bay Area where the rent is 40+% of my salary. My only saving grace was the fact I have an engineering job that allows me to support that kind of debt, but it was still paycheck to paycheck until I got my stocks.

For a while it was completely about paying off my loans first and then beginning my life once I reach 30ish. Fastforward to starting a small ecom business (You can see a story I posted here) and it completely changed my perspective.

Debt isn't inherently a bad thing if you can manage it correctly. The question I ask myself now is - can this money that I will be putting towards paying off my loan quicker give me a return higher than my interest rate? If it is, there is no point in putting the money into the loans. Rather, I use it to leverage my positioning.

If I were you give you one piece of advice, it would be to find a mentor. The experience they have will be better than anything you can read. It may not be in a sexy industry, but it will give you the correct tools you need to be successful.

Trust them, follow their advice to the T for a year or two and see where you end up.
A good mentor will help you out along the way. Teach you some tips and tricks of the trade.
A great mentor is someone who will check your a$$ when your being an idiot. When you are chasing money rather than providing value.

Find yourself a great mentor in whichever industry you want to be in.
 

TheOrchestrator

Freedom Fighter
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2018
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Houston, TX
I think this is just another example of the common pitfalls that most readers seem to fall into right after reading the books...before the proper mindset shift starts to set in. I made similar mistakes too. It seems to come down to too much focus on the C, T, And S, and not enough on the E and N. This is also what makes it really easy to get pulled in by bro marketers and scammers too.

I fell into stuff like this probably because I was reading and listening to too much stuff at the same time, without being honest about how significantly MJ's books conflicted with most of the views/philosophies that I was digesting from everywhere else. Caused me to miss a whole lot of what MJ was trying to preach, and I had to go back and read them again to truly "get the point".
 
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Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
72
113
37
Austin, Texas
Wuh?

Don't you see the problem here? The incongruity?

You're going to teach someone something you've never done yourself?

Sounds like you're still chasing money and claiming expertise without actually being an expert. There's enough of that crap already infesting the web.
Thank you MJ!

This idea was based on a common issue in coaching.

1. Lack of time to truly scale without a passive income system or community.

2. Coaching and training 1:1 is limited due to time and leverage

The problem I'm solving is the technical aspect along with the coaching model. I know it works after reverse engineering other successful coaches and programs. The problem is most coaches lack the techinical skills to set it up and the know how to create masterminds. That's where I come in.

I thought a lack of results wasn't an issue IF I am able to solve a problem and add value to the market place.

Would you agree the traditional coaching model is flawed and that transitioning to a group coaching model combined with a community to generate passive income is a viable solution?

If not, I'll scrap this and re-evaluate my plans.
 
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Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
72
113
37
Austin, Texas
I came out of college with 120k in debt + an additional loan due to my car breaking down. While I am still single, 120k+ in debt is no joke, especially living out in the Bay Area where the rent is 40+% of my salary. My only saving grace was the fact I have an engineering job that allows me to support that kind of debt, but it was still paycheck to paycheck until I got my stocks.

For a while it was completely about paying off my loans first and then beginning my life once I reach 30ish. Fastforward to starting a small ecom business (You can see a story I posted here) and it completely changed my perspective.

Debt isn't inherently a bad thing if you can manage it correctly. The question I ask myself now is - can this money that I will be putting towards paying off my loan quicker give me a return higher than my interest rate? If it is, there is no point in putting the money into the loans. Rather, I use it to leverage my positioning.

If I were you give you one piece of advice, it would be to find a mentor. The experience they have will be better than anything you can read. It may not be in a sexy industry, but it will give you the correct tools you need to be successful.

Trust them, follow their advice to the T for a year or two and see where you end up.
A good mentor will help you out along the way. Teach you some tips and tricks of the trade.
A great mentor is someone who will check your a$$ when your being an idiot. When you are chasing money rather than providing value.

Find yourself a great mentor in whichever industry you want to be in.
For now this forum is my mentor until I find an actual mentor.

Good advice. Find someone who's done it and learn from them
 

TKDTyler

Gold Contributor
FASTLANE INSIDER
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Aug 25, 2014
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For now this forum is my mentor until I find an actual mentor.

Good advice. Find someone who's done it and learn from them
Can you explain how are you going to use the forum as your mentor?
 
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Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
72
113
37
Austin, Texas
Can you explain how are you going to use the forum as your mentor?
Actively engage, ask a questions, listen and take action, post my results. Get feedback, make adjustments. Keep engaging.
 
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OP
Jfinley

Jfinley

About Time You Showed Up!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 16, 2016
45
72
113
37
Austin, Texas
Wuh?

Don't you see the problem here? The incongruity?

You're going to teach someone something you've never done yourself?

Sounds like you're still chasing money and claiming expertise without actually being an expert. There's enough of that crap already infesting the web.
My expertise is designing, creating and managing the systems needed to run a mastermind. I'm leveraging my skills and applying towards their problem.

If given the choice to coach one on one for $300/hr (average coach with less than 3 years experience) OR

Create a mastermind community to deliver a signature course or coaching model. Generate passive income through memberships and leverage the community to identify and qualify high ticket clients.

It all made sense, but now I'm questioning the entire thing. I'm not chasing money I don't believe.

I'm taking the skills I've learned from failing and using them to transform a business model often preached by mainstream.

Did I miss something? I'm here to learn.

P.s. I'm on the second reading of TMF to uncover blindspots I missed before like other users posted
 

Real Deal Denver

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 13, 2018
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Denver, Colorado
Here's a tasty tid-bit you might enjoy.

You sound like an ideal customer for ME for doing videos at $3,000 a pop. Six or seven jobs like that a month, and I could do very well, without working too hard.

Maybe THAT'S an option you can consider too.

I do video production, not for profit, but for my own business use.

I too was faced with prices similar to what you pay.

For that reason, I do my own. It isn't cheap. My PC setup cost $2,500, and software cost $500, so I still paid the same. But I now own it, and can make unlimited videos now. My expenses for that have disappeared.

If you pay for first class service, without first class income, you're in for a long struggle. Videos and marketing don't HAVE to be expensive. Now what is the next video going to cost you? There go your profits and/or savings.

In addition to scaling up in your business, think scaling DOWN on expenses as well.
 

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