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I'm done being a prostitute

Victory!

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Great to meet everyone! I stumbled upon this forum by complete accident while looking for recommendations for a new bank. I lurked around for a couple of hours, loved the content, and ended up binging all 3 books over a couple weeks.

About me, I’m in my mid-20's in the US, married but no kids (yet!). From a young age, I was always fascinated by computers and how they worked. I started to learn to program in elementary school and built my first website in 1st grade (back when sites still had marquee text and visitor counters).

Fast forward to middle school and high school, I was building fully functional web and desktop applications. I ran a couple of small ventures in the web design space primarily doing custom websites and selling IP Board and vBulletin skins I had designed. It wasn’t much but it paid for lunch and a little bit of college.

College was an un-eventful breeze (I majored in computer science) but a huge waste of time (except for the amazing friends I made a long the way). I started working full-time and the steady drip of a paycheck was amazing, I was making more than I was ever making in my life.

I didn’t stick around too long working as an employee for somebody else (temporal prostitute) and switched to being a freelancer (glorified temporal prostitute). This is what I still do today. Currently I take home about 600K/year (50K/month) doing freelance software development, but the time trade is brutal. I work at least 80 hours/week and I barely have time for anything else. Best of all, my passion for building software is dying out because it fills literally every waking minute of my life. Instead of 5 for 2, I’m currently trading all 7.

Recently, my father-in-law passed away unexpectedly and it’s made my wife and I think long and hard about where we are and where we are going. My father-in-law was a great man but he was consumed by his work. He did a lot to provide for his family and he gave them everything but unfortunately it was all at the cost of his time. My wife barely saw him throughout her life because he was always working, traveling, and providing. Did he end up retiring? No. I do not want to suffer the same fate. I want to be there as my kids are growing up, I want to spend time with them, teach them, and be free to do the things that I want to do. I do not want to look back on my life and only see a computer screen.

It’s time to pivot and do things differently. The math just doesn't make sense. Even at 600k/year (assuming that holds up), after expenses and giving the government their cut - it will take 20-30 years of saving to create a money system which replaces my active income. I’m not doing this for the next 30 years.

Time to stop being a prostitute.

I’m here to help and meet new folks so feel free to reach out if you have any questions, whether that be in life, business, investing, or software. See you around!
 
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MJ DeMarco

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Welcome aboard my friend. Glad you enjoyed the books. So sorry to hear about your father-in-law.
 

Victory!

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Welcome aboard my friend. Glad you enjoyed the books. So sorry to hear about your father-in-law.
Thanks MJ, much appreciated. Glad to be here!
 

ZCP

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@Victory! so what are your next three steps? clear, specific, actionable
 
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heavy_industry

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Prostitute is a very strong word which refers to a person that does something deeply immoral for financial gains.

While being employed or exchanging your time and energy for money may not be the best long term strategy for achieving freedom, I wouldn't use this word to describe it.

Most people on earth will end up trading their time for money. And this includes the people that are going to work at your future business. It may not be the best leadership strategy to refer to them as prostitutes. There is nothing wrong with a group of people that collaborate together to achieve a greater purpose - this is the basis on how the human civilization was built.
 

App88

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Welcome & sorry for your loss. It's great to know about you and your future goals! I would love to know more about what you do.
What type of software development you do? Since you are freelancing do you have recurring clients, or anything specific you are doing to acquire clients?
 
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Victory!

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@Victory! so what are your next three steps? clear, specific, actionable

Welcome to the forum! I'm very sorry to hear about your father-in-law.

What are your next steps?

Thanks for asking @ZCP and @Kirk84 great to meet you both.

Our 1/5/10 Planasy looks like this at a high level:

1 - Established CENTS based business that is making profit.

5 - Partially retired (no longer working 100 hours or even 40 hours/week). No more freelancing. Freelance income is replaced with income from the CENTS business.

10 - Completely retired (able to live entirely off of money system), persuing passions only at this point. I personally want to be doing angel investing/advisory, effectively helping people build businesses that help other people.

I'm going to continue freelancing for now, investing the profit into our business and continuing to contribute twoards our money system. I don’t mind working 100 hours/week as long as its getting me out of the rat race and not keeping me locked in. As we grow, I’ll phase out the freelance by taking on less projects and contributing more of my time twoards the business. Aside from building something from scratch, we are also considering purchasing and growing an existing business. We’ll ultimately end up choosing one path to go down.

Here are our 3 next steps:
  • Identify and document our mission statement and criteria for a potential aquisition, we’ll be doing that this weekend. Begin talking with business brokers in our area. We’ve already started looking at listings online and dedicate time to this each week, but we really need to nail down our criteria first in order to direct our search.
  • Brainstorm problems & inconviences that we have observed or have been facing, identify possible solutions and how they fit into the CENTS framework. Maybe we’ll take on Quickbooks haha. I was making invoices last night and every time I use it, it pains me how bad it is, I’m sure I’m not the only one. We're both writing things down as we go through our days and then at our dedicated time over the weekend, we review.
  • Make a decision on wether we will follow the aquisiton path or the bootstrap path and commit to the direction we're going to go in.

Prostitute is a very strong word which refers to a person that does something deeply immoral for financial gains.

While being employed or exchanging your time and energy for money may not be the best long term strategy for achieving freedom, I wouldn't use this word to describe it.

Most people on earth will end up trading their time for money. And this includes the people that are going to work at your future business. It may not be the best leadership strategy to refer to them as prostitutes. There is nothing wrong with a group of people that collaborate together to achieve a greater purpose - this is the basis on how the human civilization was built.
Thanks for pointing that out @heavy_industry and great to meet you. You're right, I can see how the post & title can come off that way. Don’t get me wrong, it wasn’t my intent to characterize or refer to an entire group of people, rather this is how I see myself currently and it’s a reference to the term "temporal prostitution" used in the books.

There’s nothing wrong with trading time for money, especially if that's what makes somebody happy. I have the pleasure of knowing and working with a lot of great people who do. I was happy doing this myself until I realized I don’t want to share the same fate as my father-in-law.
Welcome & sorry for your loss. It's great to know about you and your future goals! I would love to know more about what you do.
What type of software development you do? Since you are freelancing do you have recurring clients, or anything specific you are doing to acquire clients?
Thank you @App88, nice to meet you! I focus primarily on cloud based web application development (no specific industry), but I do the whole gammut from frontend (primarily React) to backend (Node/Python/Java), devops, and dev/project management.

Most of my clients are recurring. For some, I do permanent maintenance/ improvement or project management (time & materials), some reach out to me when they need something new or want something specific done (mostly fixed fee). I started off by leaving an employer and then coming back as a contractor.

All of my growth as a freelancer has been entirely organic (referals and network), which has been both a blessing and a curse. It goes to show that when you do good work, the work will come to you. I’ll be honest though, as a result, I’ve struggled to spin off into more of an “agency” offering where I can sell the work/time of other people. I know guys who want to do the work and are able to but I’ve always been turned down because people want me to do the work since they know me and trust me. At the same time, the agency model doesn't really change my time commitment, it just changes my role into more of a management role.
 

Kirk84

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That is an amazing plan and I wish you all the best! I suggest you start a progress thread and keep us posted. I recently started mine and I can feel the pull effect of this commitment.

Maybe we’ll take on Quickbooks haha.

I've never worked with Quickbooks, because it doesn't work for the German market, but bookkeeping and taxes are by far my biggest pain in the butt - from both my previous startups. All apps for the German market basically are shit. This is a huge market with great potential.
 

Gasyhustler

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Prostitute is a very strong word which refers to a person that does something deeply immoral for financial gains.

While being employed or exchanging your time and energy for money may not be the best long term strategy for achieving freedom, I wouldn't use this word to describe it.

Most people on earth will end up trading their time for money. And this includes the people that are going to work at your future business. It may not be the best leadership strategy to refer to them as prostitutes. There is nothing wrong with a group of people that collaborate together to achieve a greater purpose - this is the basis on how the human civilization was built.
I strongly agree with this response.
Anyway, welcome and sorry for your loss.
 
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Victory!

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That is an amazing plan and I wish you all the best! I suggest you start a progress thread and keep us posted. I recently started mine and I can feel the pull effect of this commitment.



I've never worked with Quickbooks, because it doesn't work for the German market, but bookkeeping and taxes are by far my biggest pain in the butt - from both my previous startups. All apps for the German market basically are shit. This is a huge market with great potential.
Thanks @Kirk84! I definitely think I'll end up doing a progress thread once we finalize our direction.

I've had some exposure dealing with bookkeeping and annual audits in the EU, it's definitely a huge pain the a$$ over there (especially depending on the country), more so than in the states I think. I asked the bookkeepers/auditors we were working with if they had any software recommendations and they said no and asked to have every invoice and contract emailed to them so they can reconcile all the bank transactions on paper...
I strongly agree with this response.
Anyway, welcome and sorry for your loss.
Thanks @Gasyhustler, great to meet you!
 

heavy_industry

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I definitely think I'll end up doing a progress thread once we finalize our direction.
Can't wait to read it. I have a good feeling about this! :smile:
 

Ronnie Bryan

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Best wishes on more time to be with your children. Condolences, on your loss. I will pray for you and your wife. Welcome to the forum. Looking forward to more post from you.
 
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