- Joined
- Jun 7, 2024
- Messages
- 23
Rep Bank
$220
$220
User Power: 104%
I'm 60% of the way through The Millionaire Fastlane and already starting to dive into the process.
How did I get here? Well, there have been a couple key career points that stick out that I thought might be good to include in my intro.
And the worst part was the culture. I was surrounded by men making $100k, $200k, $300k, and they were all miserable. They justified that misery with a new $80k truck every other year. They "made-up" for not being with their family by buying new shiny things for everyone. The result is that men making a quarter million dollars per year were shaking in their boots when there were talks about 5% bonus cuts due to a downturn and were worried they wouldn't be able to pay their mortgage.
Result: I walked away without a job lined up, and it was one of the best decisions of my life
By all standards I'm a good consultant, I make $160k, but I've reached a ceiling. The only way to go up is with variable comp based on selling and leading projects, which I'm working on, but I feel like I need something else. My family isn't worried about eating or paying bills on my income, but it's also not easy to get ahead. We're looking at our vehicles and really need something bigger for our 4 kids growing and not fitting in our normal 3rd row SUVs. Either a minivan or Suburban. Our current cars aren't worth much since both have over 160k miles. And with rising cost of living due to inflation, saving just isn't as easy as I'd expect with my income. We don't have debt other than our house. Sure we could go rice and beans and save up to buy a Suburban, but it seems crazy that is needed.
Looking forward to learning from others on this forum and getting started on this journey.
How did I get here? Well, there have been a couple key career points that stick out that I thought might be good to include in my intro.
Background
1. ExxonMobil
My first job out of college in 2014 was a rig operations manager for Exxon Mobil. I was offered $110k and excitedly accepted. The next highest offer job offer from anyone I knew at school was $75k, so I was doing very well. I met lots of people, worked on cool billion dollar drill ships, life was great, right? wrong. It was miserable. Shifts were 3 weeks on, 3 weeks off. Meaning you worked 21 days straight before a helicopter ride back to shore and eventually home for 21 days. Those 21 days were officially 12 hour days, but realistically were at least 16 hours each. (think about the fastlane concept of time value)And the worst part was the culture. I was surrounded by men making $100k, $200k, $300k, and they were all miserable. They justified that misery with a new $80k truck every other year. They "made-up" for not being with their family by buying new shiny things for everyone. The result is that men making a quarter million dollars per year were shaking in their boots when there were talks about 5% bonus cuts due to a downturn and were worried they wouldn't be able to pay their mortgage.
Result: I walked away without a job lined up, and it was one of the best decisions of my life
2. Consulting
I got a job as an analyst and very quickly climbed the ladder to an IT manager in a few months, and IT Director in a year and a half. I then got into tech consulting. Today I consult at a tech startup. That means I help clients implement our product. Better Implementation = happier customers = good reviews, referrals, renewals, and upsells.By all standards I'm a good consultant, I make $160k, but I've reached a ceiling. The only way to go up is with variable comp based on selling and leading projects, which I'm working on, but I feel like I need something else. My family isn't worried about eating or paying bills on my income, but it's also not easy to get ahead. We're looking at our vehicles and really need something bigger for our 4 kids growing and not fitting in our normal 3rd row SUVs. Either a minivan or Suburban. Our current cars aren't worth much since both have over 160k miles. And with rising cost of living due to inflation, saving just isn't as easy as I'd expect with my income. We don't have debt other than our house. Sure we could go rice and beans and save up to buy a Suburban, but it seems crazy that is needed.
How did I get here?
I found the Millionaire Fastlane about a week ago. I was actually wanting to start doing some extra consulting on the side to pay for the wanted Suburban and looking for material to start a business. That's when I stumbled on this book in some recommended reading. The more I think about opening my own consulting firm, the more I don't think it's the right play. Sure I might do it for some short term needs, and it could teach me some business concepts like forming an S-Corp, managing AR from clients, and selling. But long term it's limited by my own time. Even if I could bill 100 hours a week (which would be miserable), that's it. If I want to grow it beyond myself, then as @MJ DeMarco pointed out in Seedling 5, Human Resource Systems, they get the worst grade because they are the most dependent on humans, which makes them the most complicated and difficult to run. When I think back to every small consulting firm I know of, it's miserable for the owners.Where do I go?
Honestly, I don't know. Step 1: finish the book. Step 2: I have a business idea brainstorming session setup with some good friends to start trying to form some ideas. All I know is that I've hit the limit of the slow lane. I can push forward a bit more, but at this point, the more forward I push, the more miserable it gets. More stress. More hours. I don't want that.Looking forward to learning from others on this forum and getting started on this journey.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
