Hungrier than ever

[TommyZ]

Hi guys,

My Intro
I’m in my forties now and have had a go at 4 or 5 different businesses so far.
I have gotten out of, or failed in all of them so far, for various different reasons.

1. House Renovations business – no money in it. (Flipping may have been better)
Way better money in IT.

2. Performance car business. - no money in it. Too much R & D and return work. Basic servicing was far more lucrative.

3. Trading - 5 years part time and full time on this. Trading is a minefield of misinformation!. I have found what I consider to be the true methods, but it’s a tough mind game and less than 1% actually make any money from it. (I may have another go at this one.)

4. Home Automation. - Started a home automation company. Really enjoyed it for a while.
I spent a lot of time and effort developing process and systems for this business but I could not get around the support issues.
50 to 100k of automation in these jobs I was doing. It was a support nightmare (And I know my support) Just became prohibitive in the end. I got really burnt by this business.

All of these businesses had a common thread. They were passions which I loved at the time.
Do what you love type of thing…

My default trade is IT. I keep falling back to this work whenever I finish up with a business.
I have lost my high end IT skills over the years, having spent so much time out of the industry, and I’m now doing low end IT work. For me it feels like waiting tables and doesn’t pay that well.

Seeing my old IT colleagues now in high end positions does sting a bit.
I ran into a guy a little while back who used to work for me when I was an IT manager. I was doing IT support work at the time and had to fix his computer. I was really embarrassed at the time.

I got divorced a few years back and lost my house and pretty much all my wealth.
There is no worse financial move than divorce!
Anyway, being my age with dependant kids and not a lot of working life left has made me very, very hungry.
I’ve been devouring business books for years. Loved the Fastlane and just started on unscripted .
I believe I have a fair amount of experience in many different areas but am currently kind of paralysed.
I’m currently out of work and looking for another shitty IT job to pay the bills.
But am also racking my brain to come up with my next business idea.

Cheers
TommyZ

 

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[Claude Roy]

Hey Tommy,

Wow man, you got experience. You're already ahead of a lot of people. Focus on what you've learned through all of your previous businesses and you're gonna be successful. The important thing is that you don't give up and that's truly what you are doing, that's awesome. Here's an interview of a guy called Com Mirza who talks about his business ventures. He failed 8 or 9 times before getting his business right, but like he says, getting it once right is all you need.

View: https://www.youtube.com/watch?v=9Dod5gME_S4
. I'm in the same boat as your as I am a Software Developer and I don't really like my job honestly, I feel that I am not fulfilled at all, but I got to have it for a while until my business does well and then I'll quit. I'm trying to keep a positive attitude and be grateful for what I have and focus on the grind while I'm not at work. Nice to meet you Tommy.

Cheers,

Claude

 

[TommyZ]

Thanks man.
That video is really good. To fail that many times and keep going.
Now that is drive

Yes it is a tough balance when you have to work to pay the bills whilst trying to run or start a business.