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I don't want to be a millionaire anymore

A detailed account of a Fastlane process...

James Klymus

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The recent events have given me some extra time to think. We’re all so busy and caught up with other things, It’s easy to get so caught up that you never look within and ask what you really want. And that’s where I found my self

It can be a painful place to go, that’s why people avoid it.

If you asked me what I wanted at age 20, I probably would have said I want to be a billionaire when I’m 30. As cringey as that is to admit, I seriously wanted my goal in life to become “be a billionaire”

I wanted to dream ridiculously big and 10x my goals, just like Uncle G said.

Now, 4 years later I’ve seen the error of my younger thinking. I was dreaming so freaking big that I was never going to get where I wanted to be, because I wanted ridiculous shit.

Now, is the goal of billionaire too farfetched? Not necessarily, But the problem is, I don’t know what I would do with a billion dollars. It’s extremely excessive, as far as lifestyle goes.

I used to think that I NEEDED to have the billionaire lifestyle to be happy, and like a lot of people think at one point, I thought money was meaning and would fulfill you.

That goal is simply too big to have when you’re starting from essentially zero. I should have focused on making $1, Then 10, 100, 1000, 10,000, 50,000, 100,000

And instead of my goals motivating me, they brought me down because my goals were way too far fetched for where I am currently. Making a billion dollars is a stupid goal for a 20 something just getting started in life.

Now, I’ve been reevaluating what I want.

I want a business that fulfills me and doesn’t chase money. I want a simple home with a little land. I want a car that I know will start when I turn the key. I want a good circle of friends. I want to be well known in the community for my contributions. Anything after that is bonus points

Right now, I just want to make $5,000 a month profit from my business, enough to have an inexpensive life and save/invest the rest in my business.

I don’t care about the flashy cars, Bottle service at the club, expensive nights out, jewelry. I want the freedom.

I like nice things as much as anyone else, cars, houses, luxury. But I like fulfillment and helping people more. And if I was to only make $50k a year the rest of my life, but help people and be fulfilled, I would be fine with that.

I know I will be a millionaire, a young one, not an 80 year old one. With what I know, and through the support of a wonderful community like this, I know for a fact that I will be a millionaire.

I’ll have some nice cars, A nice home, an honest business that I can be proud of. But the “stuff” isn’t the center of my motivation anymore. Fulfillment is.

I know this is a bit “me me me” but I figured I’d share my thoughts, maybe someone who is in that position I was in can read this and get some value and a new perspective.

As far as what I'm doing right now:

I work a job full time and I do instacart on weekends and my spare time. I'm able to make an extra $2-300 (Some weeks more) a week from instacart with just a few hours of work. I use that money to fund my business.

I'm creating a digital product, and I'm currently running Facebook ads leading to an optin for a free download, which is a bunch of free value related to the niche I'm selling in.

I'm using this to build a positive relationship and send value to my community, while of course pitching my products every so often.

So far I have about 22 email subs and have spent around $50 on ads, And i started this around 4 days ago with an ad and landing page I made with a morning's work. Around $2.5 per lead isn't too bad, as long as they're interested in what I have to offer (which they obviously do if they are willing to give me their email in exchange for a piece of information only relevant to a fairly small niche). I may try and get this number down, but it's important to not get too caught up in CPL, because i'd rather have a quality lead than a cheap lead.

As I'm collecting emails and getting people to my landing pages, I'm collecting data on my FB pixel to use for retargeting and custom & lookalike audience creation.

I realize this isn't exactly the free route. I could try and start a youtube channel and compete in the ever crowded space, or join a forum or group for my niche and slowly get people on that way. But I have the extra money to spend on advertising, and $200 a week in adspend is 80 more people on my list at $2.5 an email. I'd rather speed the process up a bit with money if I have the means.

My main focus isn't to squeeze my list dry, I'm not even super concerned with making money right now. I've got the ad costs covered with my side hustle "bonus" money, and I'm using MailCheat(Chimp)'s free plan currently. I want to cultivate the best relationship with my people as possible and help them with their issues, and offer them my products to solve their issues.

What I'm doing differently this time:

I've talked a few times on this forum about how I got my start in dropshipping and had some decent success. I'm very familiar with both Facebook advertising and direct response marketing because of this. I've failed more times than I can even keep track of though, and all my failures have one thing in common; a lack of a long term vision.

I have always had shiny object syndrome. If something didn't work within a week, I would move on to something else. I always blamed the business model, when in reality I can make any business model work if I dedicate my self to it.

I still feel that pull. Even after a few weeks of this, I'm feeling the pull of shiny object syndrome. But I'm consciously ignoring it, because i know i need to be persistent.
 
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amp0193

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Creating value is inherently satisfying, and the act of creating it is motivating, and self-perpetuates more value creation.

And creating value typically leads to money.


If your business is a copy cat or "me too" business that creates zero to minimal value... you're going to burn out quickly and have nothing to show for it.
 

sparechange

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News flash, over the course of your life you will spend over $1,000,000 just to barely survive on earth.

Here are some very moderate numbers.... Let's assume you are 25 years old and will die around the age of 80. That's 55 years of spending money on food, rent (or a mortgage) fun trips, traveling and whatnot.

What is the average living expenses for someone living in Canada or the USA, two of the best places on earth? Again, lets just assume low numbers & pretend you are not supporting a family & live a ''normal life''.

I'd come up with at least $2,000 - $3,000 p/m (paying rent/mortgage/food/car/insurance gas) So let's go with $3,000. Times that by 12 for a full year of a basic life that's $36,000. If you do somehow make it to 80 years old granted you have no illness's or don't die in some freak accident that's a whopping $1,980,000 dollars not including inflation.

Why not aspire to shortcut the process and pay the debt of life upfront? That's the way I personally view money, right now I have a ''debt'' of way over $2m just to breathe oxygen and sleep in a warm bed at night with food in my stomach, and that's not even including my personal desire of a splurging spree on exotic cars and flying private.

Making $50k a year in business is probably the same effort to make $100k, take notes from Uncle G, and 10x that baby.

Oh yeh, don't forget about Uncle Sam, he will also be expecting yearly payments.
 
Last edited:

OLY

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Creating value is inherently satisfying, and the act of creating it is motivating, and self-perpetuates more value creation.

And creating value typically leads to money.


If your business is a copy cat or "me too" business that creates zero to minimal value... you're going to burn out quickly and have nothing to show for it.
creating value to someone's life and following the fiduciary principle ,is a good way to solve people needs through creating a differenciated value ,from what others are doing,,outstand the competition through your value skew .
 
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XxThelionxX

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So the question is:

Do we want to build things? And are we cut out to be an entrepreneur?!?

Because not everyone is cut out to be an entrepreneur.
 

daniel_m

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News flash, over the course of your life you will spend over $1,000,000 just to barely survive on earth.

Here are some very moderate numbers.... Let's assume you are 25 years old and will die around the age of 80. That's 55 years of spending money on food, rent (or a mortgage) fun trips, traveling and whatnot.

What is the average living expenses for someone living in Canada or the USA, two of the best places on earth? Again, lets just assume low numbers & pretend you are not supporting a family & live a ''normal life''.

I'd come up with at least $2,000 - $3,000 p/m (paying rent/mortgage/food/car/insurance gas) So let's go with $3,000. Times that by 12 for a full year of a basic life that's $36,000. If you do somehow make it to 80 years old granted you have no illness's or don't die in some freak accident that's a whopping $1,980,000 dollars not including inflation.

Why not aspire to shortcut the process and pay the debt of life upfront? That's the way I personally view money, right now I have a ''debt'' of way over $2m just to breathe oxygen and sleep in a warm bed at night with food in my stomach, and that's not even including my personal desire of a splurging spree on exotic cars and flying private.

Making $50k a year in business is probably the same effort to make $100k, take notes from Uncle G, and 10x that baby.

Oh yeh, don't forget about Uncle Sam, he will also be expecting yearly payments.

I like this post. Waiting to hit $1 billion before you allow yourself to be happy is a bad way to live your life and you will almost certainly fall short of that goal (...statistically speaking.. sorry), but at the same time, I also believe in this day and age, you can't afford NOT to be rich. Life is expensive.
 

amp0193

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I like this post. Waiting to hit $1 billion before you allow yourself to be happy is a bad way to live your life

The hard truth is that some entrepreneurs will never be successful.

If you can't find happiness in the journey, success or not, then don't even start down the path.

Even on my darkest days as an entrepreneur, at the core I was satisfied with my life, and sure as hell wouldn't have traded it for my old wage slave job.
 
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D

Deleted78083

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Sometimes you can wish to have money to help other people. If you don't know what to do with 1 billion for yourself, then maybe you could look at what to do for other people. One billion is very little in regard to current worldwide needs in healthcare and education.
 

James Klymus

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Sometimes you can wish to have money to help other people. If you don't know what to do with 1 billion for yourself, then maybe you could look at what to do for other people. One billion is very little in regard to current worldwide needs in healthcare and education.

Absolutely! Before I help others on that scale, I need to help my self first.

If you can't find happiness in the journey, success or not, then don't even start down the path.

This is basically my discovery


News flash, over the course of your life you will spend over $1,000,000 just to barely survive on earth.

Here are some very moderate numbers.... Let's assume you are 25 years old and will die around the age of 80. That's 55 years of spending money on food, rent (or a mortgage) fun trips, traveling and whatnot.

What is the average living expenses for someone living in Canada or the USA, two of the best places on earth? Again, lets just assume low numbers & pretend you are not supporting a family & live a ''normal life''.

I'd come up with at least $2,000 - $3,000 p/m (paying rent/mortgage/food/car/insurance gas) So let's go with $3,000. Times that by 12 for a full year of a basic life that's $36,000. If you do somehow make it to 80 years old granted you have no illness's or don't die in some freak accident that's a whopping $1,980,000 dollars not including inflation.

Why not aspire to shortcut the process and pay the debt of life upfront? That's the way I personally view money, right now I have a ''debt'' of way over $2m just to breathe oxygen and sleep in a warm bed at night with food in my stomach, and that's not even including my personal desire of a splurging spree on exotic cars and flying private.

Making $50k a year in business is probably the same effort to make $100k, take notes from Uncle G, and 10x that baby.

Oh yeh, don't forget about Uncle Sam, he will also be expecting yearly payments.

Hmm maybe I wasn't clear enough with my message. I don't aspire to make $50k a year the rest of my life. I aspire to be a wealthy individual.

I just was looking for meaning in a dollar amount, and I wasn't loving the process that is the means to that end.
 
D

Deleted78083

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I believe more in "I give therefore i have" than in "i have therefore i give". I think one must give first before getting, not getting first before giving. That's what I read in TMF , and I agree, I think it makes sense. I always take Jack Ma as an example: Ma didn't want to have anything, he wanted to help Chinese factories sell abroad. So he did.
 

James Klymus

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I believe more in "I give therefore i have" than in "i have therefore i give". I think one must give first before getting, not getting first before giving. That's what I read in TMF , and I agree, I think it makes sense. I always take Jack Ma as an example: Ma didn't want to have anything, he wanted to help Chinese factories sell abroad. So he did.

That's a good way of looking at it, and I agree with that actually. You can always give something.

But I was referring to it in the context of having tons of money to donate to charities, and other philanthropic pursuits. In that case, I have to help my self (make lots of money) before I can help others (give lots of money and time)
 
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Kevin88660

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The recent events have given me some extra time to think. We’re all so busy and caught up with other things, It’s easy to get so caught up that you never look within and ask what you really want. And that’s where I found my self

It can be a painful place to go, that’s why people avoid it.

If you asked me what I wanted at age 20, I probably would have said I want to be a billionaire when I’m 30. As cringey as that is to admit, I seriously wanted my goal in life to become “be a billionaire”

I wanted to dream ridiculously big and 10x my goals, just like Uncle G said.

Now, 4 years later I’ve seen the error of my younger thinking. I was dreaming so freaking big that I was never going to get where I wanted to be, because I wanted ridiculous shit.

Now, is the goal of billionaire too farfetched? Not necessarily, But the problem is, I don’t know what I would do with a billion dollars. It’s extremely excessive, as far as lifestyle goes.

I used to think that I NEEDED to have the billionaire lifestyle to be happy, and like a lot of people think at one point, I thought money was meaning and would fulfill you.

That goal is simply too big to have when you’re starting from essentially zero. I should have focused on making $1, Then 10, 100, 1000, 10,000, 50,000, 100,000

And instead of my goals motivating me, they brought me down because my goals were way too far fetched for where I am currently. Making a billion dollars is a stupid goal for a 20 something just getting started in life.

Now, I’ve been reevaluating what I want.

I want a business that fulfills me and doesn’t chase money. I want a simple home with a little land. I want a car that I know will start when I turn the key. I want a good circle of friends. I want to be well known in the community for my contributions. Anything after that is bonus points

Right now, I just want to make $5,000 a month profit from my business, enough to have an inexpensive life and save/invest the rest in my business.

I don’t care about the flashy cars, Bottle service at the club, expensive nights out, jewelry. I want the freedom.

I like nice things as much as anyone else, cars, houses, luxury. But I like fulfillment and helping people more. And if I was to only make $50k a year the rest of my life, but help people and be fulfilled, I would be fine with that.

I know I will be a millionaire, a young one, not an 80 year old one. With what I know, and through the support of a wonderful community like this, I know for a fact that I will be a millionaire.

I’ll have some nice cars, A nice home, an honest business that I can be proud of. But the “stuff” isn’t the center of my motivation anymore. Fulfillment is.

I know this is a bit “me me me” but I figured I’d share my thoughts, maybe someone who is in that position I was in can read this and get some value and a new perspective.

As far as what I'm doing right now:

I work a job full time and I do instacart on weekends and my spare time. I'm able to make an extra $2-300 (Some weeks more) a week from instacart with just a few hours of work. I use that money to fund my business.

I'm creating a digital product, and I'm currently running Facebook ads leading to an optin for a free download, which is a bunch of free value related to the niche I'm selling in.

I'm using this to build a positive relationship and send value to my community, while of course pitching my products every so often.

So far I have about 22 email subs and have spent around $50 on ads, And i started this around 4 days ago with an ad and landing page I made with a morning's work. Around $2.5 per lead isn't too bad, as long as they're interested in what I have to offer (which they obviously do if they are willing to give me their email in exchange for a piece of information only relevant to a fairly small niche). I may try and get this number down, but it's important to not get too caught up in CPL, because i'd rather have a quality lead than a cheap lead.

As I'm collecting emails and getting people to my landing pages, I'm collecting data on my FB pixel to use for retargeting and custom & lookalike audience creation.

I realize this isn't exactly the free route. I could try and start a youtube channel and compete in the ever crowded space, or join a forum or group for my niche and slowly get people on that way. But I have the extra money to spend on advertising, and $200 a week in adspend is 80 more people on my list at $2.5 an email. I'd rather speed the process up a bit with money if I have the means.

My main focus isn't to squeeze my list dry, I'm not even super concerned with making money right now. I've got the ad costs covered with my side hustle "bonus" money, and I'm using MailCheat(Chimp)'s free plan currently. I want to cultivate the best relationship with my people as possible and help them with their issues, and offer them my products to solve their issues.

What I'm doing differently this time:

I've talked a few times on this forum about how I got my start in dropshipping and had some decent success. I'm very familiar with both Facebook advertising and direct response marketing because of this. I've failed more times than I can even keep track of though, and all my failures have one thing in common; a lack of a long term vision.

I have always had shiny object syndrome. If something didn't work within a week, I would move on to something else. I always blamed the business model, when in reality I can make any business model work if I dedicate my self to it.

I still feel that pull. Even after a few weeks of this, I'm feeling the pull of shiny object syndrome. But I'm consciously ignoring it, because i know i need to be persistent.
The way I deal with shiny object syndrome is as follow. I will project the growth of this industry. I will also look at a few good players in it (Those I wish to emulate and compete and I think I have reasonable chance of matching) and estimate how much they are making based on my own online research.

If let us say despite all my good effort in execution I can only earn 20 percent of what my targeted “good players” can make, after 3 yearS (After factoring broad industry growth also).... is it still a good project to embark on? It is basically to calculate the income ceiling in embarking on a project.

If something is too small it is not just worth the time. Of course there are other consideration. How “CENTS” are they? Do you have a good starting point such as existing resources (domain knowledge and network)? Do you have a business partner to complement on your skill to work on it?

If you have five shiny objects you can take time to list them and study them one by one.

I think the right approach is take a long time to choose what you want to do and then once decided you can just go ahead and not ever look back or Question yourself.

On how much money is enough. I think being young can give false sense of security. I see quickly how people find money insufficient after they get married and have kids..the spending quickly goes to the roof.

And what if you saw a once in a life time investment opportunity in a market crash in a sector that you know and you just hoped that you have 200k to dump on it?

You never know when you really badly want to have money again. And I would rather feel safe having money in the bank and not knowing what to do with it first.
 
G

GuestUser4aMPs1

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@James Klymus you might like Tim Ferris' interview with Derrick Sivers, founder of CD Baby.

Dude is a multi-millionaire and couldn't care less.

He's a musician that started CD Baby entirely organically by scratching his own itch (figuring out the problem of selling a CD through a website), and eventually extending that help to a small number of local guys when asked.

Then it grew, and grew, and grew...without much deliberation.

Even with a small team, office, and investment offers piling in during the .com insanity, the guy was still gigging weekends.

It's more or less how I've approached business now, by looking at "projects" to pursue for the sole reason that making stuff feels good and that it's interesting.

Of course, your likelihood of profiting from said "stuff" you make is in proportion to how much someone else wants your "stuff," and how many of those people are out there. Some will try to force this by market research and getting into businesses they don't give a shit about. That was me for a while, and it always bit me somehow later.

I'm fortunate to have found an interesting project to tackle, and some people are opening their wallets for that already. The longer I stick to it, the more people will open their wallets.

So that's my approach. Make and Do Interesting Stuff...

...and if a lot of people happen to open their wallets for your stuff, then don't be afraid to ride the wave.
 
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James Klymus

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@James Klymus you might like Tim Ferris' interview with Derrick Sivers, founder of CD Baby.

Dude is a multi-millionaire and couldn't care less.

He's a musician that started CD Baby entirely organically by scratching his own itch (figuring out the problem of selling a CD through a website), and eventually extending that help to a small number of local guys when asked.

Then it grew, and grew, and grew...without much deliberation.

Even with a small team, office, and investment offers piling in during the .com insanity, the guy was still gigging weekends.

It's more or less how I've approached business now, by looking at "projects" to pursue for the sole reason that making stuff feels good and that it's interesting.

Of course, your likelihood of profiting from said "stuff" you make is in proportion to how much someone else wants your "stuff," and how many of those people are out there. Some will try to force this by market research and getting into businesses they don't give a shit about. That was me for a while, and it always bit me somehow later.

I'm fortunate to have found an interesting project to tackle, and some people are opening their wallets for that already. The longer I stick to it, the more people will open their wallets.

So that's my approach. Make and Do Interesting Stuff...

...and if a lot of people happen to open their wallets for your stuff, then don't be afraid to ride the wave.

We think a lot alike
 

MJ DeMarco

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While I understand the gist of your post, I will highlight this post...

News flash, over the course of your life you will spend over $1,000,000 just to barely survive on earth.

If you want a nice comfortable life, you almost NEED to be a millionaire.

The Fed printed trillions in the last few months alone, so the cost of living is bound to rise dramatically.

You might even need to be a multimillionaire, and that's with a moderate home.

Money is a tool for freedom.
 
G

GuestUser4aMPs1

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We think a lot alike
That said, it's important to have a financial plan with concrete milestones.

So long as you're not accumulating endlessly for its own sake (which I think is F*cking stupid) intelligent, deliberate wealth building over the long term follows certain principles that you might could consider.

What I've mentioned before about approaching business as a series of "projects" or "experiments" has helped significantly in making the process more enjoyable though. I'm doing it for its own sake and not because I care about being a deca-millionaire.

Just "helping others" or "giving value" to get rich is an empty philosophy that isn't backed with any meaning or conviction for me to act, personally.

I look at business like this...

Is the world missing something you want? Then make it. Make the thing you want to see in the world.

Others might want it too. If that happens to be the case, you'll be rewarded financially.

Regardless of my outcome however, making something that wasn't there before makes me happy. My last business was the exact opposite (a me-too copycat as @amp0193 described) and it made me miserable for years. Now correcting course after the fact.
 
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sparechange

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Even if you are a millionaire in Vancouver you can't afford a decent house :rofl::rofl:
 

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lomb

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For almost the same amount of money I could have 70 acres plus a much bigger house. :)

Moral is that property prices arent linked to build cost or utility cost but to incomes of available purchasers and supply/demand. Im guessing in Vancouver like California average incomes are very high and a supply /demand imbalance exists. It might not be sustainable or it might be but it is what it is.
 
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D

Deleted20833

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If $50K a year is your goal then getting an in demand high paying degree will be the easier and less stressful way of reaching that goal
 

lomb

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You do realise you could travel and live through various countries in SE Asia for little while still generating an online income. You dont even need to excel at it as long as your talented enough to pull in 2-3 k a month via dropshipping, authoring, affliate marketing or design work you can live like a king. Its just a glorified job rather than any kind of fastlane millionaire mindset but it does give you headroom in that your personal overheads drop real low while buying you time.
Start with generating a profit of 1 dollar or 100 dollars by creating value and scale on that while upskilling.
 
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