My Plan Part I

[zauberer]

Ok Hi Guys and Ladies,

Everday I'm starting to have a clearer picture and to finally start "getting it" little by little... So here it is:

I've discovered there are basically two types of revenue.
1. Blood sweat and tears money = this is where you work x amount of hours for x amount of money or you work x amount of projects for x amount of money. or you sell x amount of products for x amount of money. All of these require that you constantly seek new customers or that you constantly have to keep working the same amount of hours to maintain the cash flow.

2. Autopilot income = these systems may require a lot of work in the beginning phases, but once they are running, there is little or no involvement necessary. Or you don't always have to be there for them to continue to bring an income.


Right now I am running 2 service businesses. One is a janitorial service that I and family are running ourselves and a direct response copywriting and marketing consulting business.

I am also promoting a handful of affiliate products and my own digital products. There are a lot of things I've learned and that I'm doing right, but a lot more that I still have to learn and figure out :smx4:

My plan before coming here was a slowlane path... but now I'm curious as to the fastlane.

I think part of the fastline is diversity. In other words, having more than one leg to stand on. So now I am learning about investing and real estate in order to add that into the overall plan.

The thing is... there are so many options availble... what have you been able to be most successful with?

What are some of the more viable options for someone who has little or no money, and also does not have the best credit in the world?

(And yes I am also reading personal finance books like Finance for Dummies :smx1
I see a lot of hype about being able to make tons of money with no money down, and even if you have the worst credit in the world if only you just buy this kit or that course, but I'm 33 years old and I'm not interested in buying a kit with a bunch of hype. I know more is needed to make the entire connection.

Could you point me on the right path to start educating myself about viable options for my particular situation?

And more importantly, could you tell me about something that I could start today without having to wait months or years ?

Thank you :smxF:

Ps. Also I forgot to mention my goal. I honestly want to create 101 Trillionaires in the future (by 2034). I don't know how I will do this, but this is something I feel at a very deep level. The reason is that deep down inside this is only a symbol of the immense and unimaginable results that will be from this.

If I have a hand in more people having more money then there can be more research funded into stopping or at least retarding the aging gene so that humans would no longer die.

If I have a hand in more people having more money then there can be more dollars spent towards nanotechnology changing the atomic structure of our environment and perhaps the chance to change draughts in Africa.

If I have a hand in bringing more money to more people, then perhaps they have a chance to evolve their values from one of fear and lack to one of love.

If I have a hand in making others wealthy then I truly think a large portion of those people would turn around and use their wealth to improve the world around them , which would leak into all areas of society. they would be able to use the money in ways that I myself could not to indirectly affect my life again for the better. I truly believe this is a good cycle.


Of course I myself, like everyone else wants to be rich, but I seriously get a deep rush from making others a ton of money. It's a game to me and I think that the more people I benefit then automatically I will be taken care of as well. thanks

 

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[kwerner]

Could you point me on the right path to start educating myself about viable options for my particular situation?

And more importantly, could you tell me about something that I could start today without having to wait months or years ?

Thank you :smxF:

Begin by investing in your financial education. This should be your starting point, in my opinion.

The journey of a thousand miles begins with the first step; and this journey is worth the effort and time invested.

 

[MJ DeMarco]

Ok Hi Guys and Ladies,

2. Autopilot income = these systems may require a lot of work in the beginning phases, but once they are running, there is little or no involvement necessary. Or you don't always have to be there for them to continue to bring an income.

You got it.

I think part of the fastline is diversity.

Yes, but not diversity of business, diversity of expertise. As an entrepreneur, you should have average knowledge on many topics. I believe that diversity of business brings a diversity in income, which I call, opportunity polygamy. I didn't get to be retired by focusing on 4 businesses. SteveO isn't dabbling in web businesses -- he's a real estate apartment investor. I believe in your early Fastlane stages, you should be 100% monogamous to your business -- then AFTER you see massive success, you can go polygamous and be scattered everywhere because 1) You have more time and 2) You have plenty of money.

The most successful entrepreneurs follow this path of monogamy to polygamy -- they eat, breathe, and shit their business -- sell it for millions -- and then take those proceeds and invest in dozens of new startups.

 

[maximus20895]

I think that MJ is right. While in the long run you want diversity, as far as the short term you want to focus just on one thing. The reason this is so is because for you to make big money and for you to get it going you need to focus on just one thing rather than giving your attention to several things at once. Then after you have successfully built up your business you can start pursuing more business.

This also helps in that after you are successful with one you will know what to do in order to be successful in others. I'm not saying internet marketing skills and renting out apartments are the same, however most business have some of the same skills that ultimately determines if a business is successful for not. Customer service is just one example.

Most people, including me, get so excited on the fastlane stuff that they try to do several things at once. Chances are that you and every other new fastlaner do not have the business building skills in order to make several business successful at once.

Make one, successful business then once it is on autopilot make more. Simple as that.

Coca Cola company didn't make all there drinks at the same time, no need to make several business at the same time either. (best example I could give, sorry)

 

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