Meikel Muhr
New Contributor
- Joined
- Jul 15, 2021
- Messages
- 9
Rep Bank
$115
$115
User Power: 133%
Hello Fastlaners,
I came across MJ's book a couple of weeks ago and since then I am completely amazed by his thoughts.
I am 31yrs old, living currently in Germany and doing IT Project Management work (Freelance) for big clients all over Europe. I started my career +10 yrs ago as an intern (while studying IT + Business) for a big chemical company. I got into SAP and learned everything about it in the area of logistics, changed to IBM, working for big companies as SAP Consultant and ultimately started my own freelance business 4 years ago (same time when I moved to Spain for living the good life next to the beach).
The first 4 years as Freelance Consultant have been pretty good from a financial point of view. Friends & Family would say I am doing very good. Also lately I abadonned the role of SAP consultant for becoming a Project Manager. Why? Because I see my passion in PM and also it is a way to charge higher rates. Currently I am sitting in a low 6-figure revenue (of course pretty much limited due the time I have and the daily rate I charge). So the classic issue with time vs. money business. I am growing my rev every year by adding new skills and raising rates consequently (e.g. beginning of the new year +10%). By this I am now saying "NO" to a lot of recuriters / clients / agencies and only accepting gigs that fit my terms (payment, flexibilty of location and of course topic).
Having read FLM my eyes opened just realizing that I have created (a well paid) job myself and I am still in the Slowlane (and will be following this approach). Also I found MJ's thoughs on the stock market interesting. My second business (and I call it business because I treat this very professional) is investing in the stock market via differnt products (options, derivates, stocks, commodities). Also here I did quite well in the last 3 years being aware that the market was good to me and I am not in control of it.
So what brings me here to the forum and posting my story. I am now even better aware of the fact that I have no control over what I am doing. If I do not attend my clients projects, there is no revenue. If the stock market drops drastically, I still make some money but my strategies are more oreinted on bullish markets. The time I spend on client projects and in the markets determines what I can cash in.
So what I am looking for? Your thoughts and ideas on how I could get more leverage on my business by NOT hiring people for operations. Finding and getting people in my business niche isn't easy, one must be willing to pay good (high) salaries and of course managing them. Things I am not open for. So scaling via employees is currently no option for me. Don't get me wrong - I am very much open for people supporting my business like a VA or someone doing marketing, but "cloning" myself would imply high cost I am not willing to cover in the moment.
Ideally I would love to step into productized consulting, but haven't found a good way so far as my "done for you business" is very often so specific customized to the clients that I did not find "the one thing" that I could systemize. But maybe I am thinking to complex....
Open to any thought - IT consultans, PMs, Freelancer Manager / Interim Manager....
Thanks in advance and take care guys!
Michael
I came across MJ's book a couple of weeks ago and since then I am completely amazed by his thoughts.
I am 31yrs old, living currently in Germany and doing IT Project Management work (Freelance) for big clients all over Europe. I started my career +10 yrs ago as an intern (while studying IT + Business) for a big chemical company. I got into SAP and learned everything about it in the area of logistics, changed to IBM, working for big companies as SAP Consultant and ultimately started my own freelance business 4 years ago (same time when I moved to Spain for living the good life next to the beach).
The first 4 years as Freelance Consultant have been pretty good from a financial point of view. Friends & Family would say I am doing very good. Also lately I abadonned the role of SAP consultant for becoming a Project Manager. Why? Because I see my passion in PM and also it is a way to charge higher rates. Currently I am sitting in a low 6-figure revenue (of course pretty much limited due the time I have and the daily rate I charge). So the classic issue with time vs. money business. I am growing my rev every year by adding new skills and raising rates consequently (e.g. beginning of the new year +10%). By this I am now saying "NO" to a lot of recuriters / clients / agencies and only accepting gigs that fit my terms (payment, flexibilty of location and of course topic).
Having read FLM my eyes opened just realizing that I have created (a well paid) job myself and I am still in the Slowlane (and will be following this approach). Also I found MJ's thoughs on the stock market interesting. My second business (and I call it business because I treat this very professional) is investing in the stock market via differnt products (options, derivates, stocks, commodities). Also here I did quite well in the last 3 years being aware that the market was good to me and I am not in control of it.
So what brings me here to the forum and posting my story. I am now even better aware of the fact that I have no control over what I am doing. If I do not attend my clients projects, there is no revenue. If the stock market drops drastically, I still make some money but my strategies are more oreinted on bullish markets. The time I spend on client projects and in the markets determines what I can cash in.
So what I am looking for? Your thoughts and ideas on how I could get more leverage on my business by NOT hiring people for operations. Finding and getting people in my business niche isn't easy, one must be willing to pay good (high) salaries and of course managing them. Things I am not open for. So scaling via employees is currently no option for me. Don't get me wrong - I am very much open for people supporting my business like a VA or someone doing marketing, but "cloning" myself would imply high cost I am not willing to cover in the moment.
Ideally I would love to step into productized consulting, but haven't found a good way so far as my "done for you business" is very often so specific customized to the clients that I did not find "the one thing" that I could systemize. But maybe I am thinking to complex....
Open to any thought - IT consultans, PMs, Freelancer Manager / Interim Manager....
Thanks in advance and take care guys!
Michael
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