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GOLD! Today is my 1 year TMF anniversary

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but i fell way off my 1st year expectation in my first venture.
Ha! I know that feeling.

I fell in love with the process so I don't waste time with expectations anymore. Much less stress, much more deliberate action.
 

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Actually I look for markets first (took me a year to figure that one out). Needs second. Product third.
Man if people knew this there would be a lot fewer 'how do i find a niche/idea' threads...

I'm looking forward to your next anniversary update. A lot can happen in a month and a half.

Also I'm getting you back for that check thing you pulled last year at C+B. Somehow.
 
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Well, its here. My 2nd TMF anniversary.


Year #2 has been...well painfully beautiful. I had to struggle and fight with myself this year. I had to break through a few barriers and learn a few more lessons. Here are a few of the bigger ones:

  • There are some pretty big highs and lows in entrepreneurship. I'm not the best at managing it but getting better. I can recover from the "hits" with a little more grace. I can smile off a big win without alerting the masses that "see, I'm not a failure all the time :)"
  • I had to get over the "why isn't business step [HASHTAG]#579[/HASHTAG] easy? I've put in the time, everything should be easy now". NOPE - that's not the way it works. If you get to a step that is hard then guess what - you haven't learned everything you need to know yet to hit your goal. The world of business doesn't care how many steps were easy but it will stop you when you haven't learned enough to advance.
  • I stopped money chasing. I wasn't getting anywhere with it so I sat back and just started providing value. Why spam somebody when you can form a relationship, a friend and maybe they pay you one day too?
  • I stopped being so hard on myself. I stopped pushing so hard to achieve "success". What is success anyway? I think I subscribed to somebody else's definition. Don't do that, it slows you down or even makes you go backwards.
  • I found the edge of my comfort zone. I sat in a developer's office a few months ago with a proposal that would put 1.2M in my pocket immediately and another 7M+ over the next 5 years. I put 3 months of work in the deal and about $100k. I almost threw up when I walked out of his office due to the excitement/fear or whatever. I wish I could bottle that feeling. (BTW - he didn't sign it so no gold rolex pictures today, ha!)

So I know you guys wanted a "result" post with me in front of a new lambo proving once and for all TMF can make it happen. Lol, I'm pretty happy with my used Jetta but I am enjoying a few things at the same time my PROCESS is making my long term goals come to fruition.

  • I no longer trade 5 days for 2 days. I now work 2 days for 5 days. That's right, I work Monday and Tuesday....that's it.
  • I get paid (mostly) passively for systems, products, and ideas I set up over the last few years. I put in a few days of work to nudge them along.
  • I'm doing it the "hard" way in B2B without using Amazon or Ebay. Just regular businesses operated in what I would consider a Fastlane method.
  • My favorite commandment has become "time".
  • I understand more what the word "free" means.
  • My daughter decided she wants to be a golf star. So I now dedicate Wednesdays to her dream. Couldn't do that before TMF.
  • I'm starting another business (imagine that). I work on it on Thursday's and at a leisurely pace. It's more of a hobby but maybe it will be a business I can pass along to family one day.

So today, I'm in a pretty good place. My choices are mine. I accept responsibility for the things that don't work. I applaud myself for the things that do. Every once in awhile a friend asks me for business advice...and frankly that makes me smile enough to keep plugging away. Finally - thank YOU for helping me along my path.
 

mws87

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  • I stopped being so hard on myself. I stopped pushing so hard to achieve "success". What is success anyway? I think I subscribed to somebody else's definition. Don't do that, it slows you down or even makes you go backwards
Incredible post, man. I love these anniversary posts. Also, I've been meaning to ask about this here ^^^

Although I'm just starting my journey, when would you be able to determine you're being a bit too hard on yourself? I will work hard, yet feel like I'm not working hard enough, even when it causes me to feel totally detached from reality. I recently took a day to just collect myself and get away from my city, I wasn't even able to enjoy it because I kept feeling like time was being wasted and I should be productive.

You're definitely right in it working backwards. There were a couple weeks in which I was glued to my projects non-stop. I wasn't sleeping much, I was worn out and started getting panic attacks again (oh joy!). Yet, when I "slow down", I feel guilty because I feel as if I'm "backing down" from the hard stuff (even though I go through it eventually anyway.

Sorry for the "me me me" post, just wanted to give an example.

What's your take on it? Any input would be great. Surely everyone's threshold is different, I just want to hear someone's perspective who's been doing it for a while.
 

Lee Hyde

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Brilliant post my friend. Congrats on your hard work. I am working hard to be able to do the same next year!

Bring on year 2!
 
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when would you be able to determine you're being a bit too hard on yourself?
Thanks for the nice reply. I can tell when I am being too hard when I stop enjoying the process. Some typical "clues" that it might be happening are:
  • Get "snappy" with loved ones
  • No longer care about goals you once had
  • Don't enjoy getting up early to work on something
  • Start considering "shiny object syndrome"
You may also find that 1 day off won't cut it. It may take longer. As you get further down your entrepreneurial path that time will shorten (bounce back quicker from the punches). I firmly believe that if you sit on the accelerator too long you will have to pull over and replace the turbo a few times.
 

MJ DeMarco

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Tagged Notable. ;)
 

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An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.

The Mexican replied, “only a little while. The American then asked why didn’t he stay out longer and catch more fish? The Mexican said he had enough to support his family’s immediate needs. The American then asked, “but what do you do with the rest of your time?”

The Mexican fisherman said, “I sleep late, fish a little, play with my children, take siestas with my wife, Maria, stroll into the village each evening where I sip wine, and play guitar with my amigos. I have a full and busy life.” The American scoffed, “I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing, and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually New York City, where you will run your expanding enterprise.”

The Mexican fisherman asked, “But, how long will this all take?”

To which the American replied, “15 – 20 years.”

“But what then?” Asked the Mexican.

The American laughed and said, “That’s the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions!”

“Millions – then what?”

The American said, “Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siestas with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”

- Author Unknown
 

todd.chapman4

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I am still reading TMF and have just started my journey to the fast lane. This post has been an awesome read for me at 5 am this morning. I have a wife and baby on the way and beyond on the talk of business failures and success, the relationships you now get to have with your family is what draws me to take this journey the most. I want to trade 2 for 5 rather than 5 for 2. I am even dedicated to get to that 0 for 7 that MJ talks about in TMF and I believe it's out there!!

With my first child on the way taking this step away from the loosely quoted "security" of my current job is honestly a bit of a scary decision and I've been back and forth on when I should quit my job and throw myself into getting to that fast lane freedom. This post has given me a lot to chew on and of course I've just reached the point in TMF where MJ talks about how to determine the right choice to make and that's exactly what I need to do.

Thanks to you and thanks to this forum!


Sent from my iPhone using Tapatalk
 

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People familiar with the entrepreneur roller-coaster will have a chuckle at this:

Guess who called me to set up a meeting next week?

I found the edge of my comfort zone. I sat in a developer's office a few months ago with a proposal that would put 1.2M in my pocket immediately and another 7M+ over the next 5 years. I put 3 months of work in the deal and about $100k. I almost threw up when I walked out of his office due to the excitement/fear or whatever. I wish I could bottle that feeling. (BTW - he didn't sign it so no gold rolex pictures today, ha!)
Do I think they are going to sign the deal? Not really. But they didn't forget who I was at least :) I'll let you know what happens either way, ha!
 

Coach Shane

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I am still reading TMF and have just started my journey to the fast lane. This post has been an awesome read for me at 5 am this morning. I have a wife and baby on the way and beyond on the talk of business failures and success, the relationships you now get to have with your family is what draws me to take this journey the most. I want to trade 2 for 5 rather than 5 for 2. I am even dedicated to get to that 0 for 7 that MJ talks about in TMF and I believe it's out there!!

With my first child on the way taking this step away from the loosely quoted "security" of my current job is honestly a bit of a scary decision and I've been back and forth on when I should quit my job and throw myself into getting to that fast lane freedom. This post has given me a lot to chew on and of course I've just reached the point in TMF where MJ talks about how to determine the right choice to make and that's exactly what I need to do.
You don't always have to step away right away...I built my business for two years while I worked my regular job. I got my business to where I was making enough to JUST scrape by...and then I took the plunge. I have never looked back. Was it my first business? NO!!! But it was the first business where I was consistently able to inspire customers AND consistently bring in income without "overly" exerting myself. I knew, with exertion (!!) I could really make it happen.

Read the book. Absolutely read it and read others. But...at the end of the day, Todd, DO SOMETHING. And then be CONSISTENT.

You'll make it happen, but DO IT!!

Shane
 
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Do I think they are going to sign the deal? Not really. But they didn't forget who I was at least :) I'll let you know what happens either way, ha!
Awww, dang it. They shopped my proposal and found a cheaper source (who will crash and burn because they have no experience). At least they had the guts to tell me in person :)

I still recommend putting yourself on the line like this. Shows you what you are capable of. Do it enough times and maybe you get the paper to prove it.
 

Jon L

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Awww, dang it. They shopped my proposal and found a cheaper source (who will crash and burn because they have no experience). At least they had the guts to tell me in person :)

I still recommend putting yourself on the line like this. Shows you what you are capable of. Do it enough times and maybe you get the paper to prove it.
I submitted a proposal like this (only two orders of magnitude less than yours). They went with the cheaper option who will crash and burn. I'm half expecting them to call back in a few months.

I wouldn't be surprised if your guy calls you back too. Might be worth a call every now and then to check on his progress.
 
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I submitted a proposal like this (only two orders of magnitude less than yours). They went with the cheaper option who will crash and burn. I'm half expecting them to call back in a few months.

I wouldn't be surprised if your guy calls you back too. Might be worth a call every now and then to check on his progress.
You'd be surprised by how many people call back. I'm constantly amazed by it. It may take 2+ years but you still may land that sale.

Keep proposing man!
 

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This is a great thread, im ready for some new stuff
 

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It's here! My 3 year anniversary on the Forum! Wow, what a trip.

In my first anniversary you saw where I was working on myself and my thinking. Year #2 brought trying some new businesses and new fastlane strategies. The big push for year #3 was to get in the right "vehicle". The intent was to get in a vehicle that gave me a chance to hit my goal. You can follow that progress thread here (I will update that thread later to reflect this one). My vehicle was found by identifying a hungry MARKET which paired with some of my existing talents. I drilled down to the core NEED of that market. I then developed a PRODUCT to fill that need.

That product happens to be building spec houses. Here is a sneak peak of where I am with it:



Year #3 wasn't all about finding my vehicle though. I kept putting in the time with all the other life changes identified in year #1. Here are my favorites:



That's 18 lbs of belly fat gone :)



That's my girl's medals for the last 2 golf tournaments she entered :) I devote Tuesdays to helping her achieve her goal of "becoming a golf professional". I can do this because my "vehicle" is pretty darn passive.



Here's my WIN box you hear me preaching about. I give code names for all my wins be it small or large. You will also see tasks lists, accelerators and various other tracking columns. I find it very helpful to accelerate, track and celebrate wins (feel free to steal this)! If you look in the corner you will see my personal golf handicap drop 1.1 strokes this year as well :)

I find myself in a good place this year. I haven't struggled near as much compared to years #1 and #2. Here are a few things that made this year smoother:

1. I sold or closed all my other businesses to focus on just 1. Mentally I seam to have more capacity and generally make better decisions pushing #1 without other businesses stealing my attention (even if it is sub-conscious).
2. I play cash flow a good bit. Thanks @Russh. I support Russ's assertion that you have to play it at least 10 times, here is the link.
3. I threw away my safety net income producers. These were time sucks but fear made me keep them. Not any more.
4. I'm not quite to Zero Fu&*s given but let me tell you, closer is better :)
5. On the opposite side of that, I try to contribute to others regardless if they appreciate it.
6. I have a few mental images to randomly pull up when things head south. They remind me to appreciate what I have and what may be one day.
7. I'm working on the concept of "honor what you can". This concept is for dealing with negative people (that you can't remove from your life). It's giving me my power back without harming that person.
8. I'm really starting to appreciate some overlooked music. Noticeable One by Missing Persons is playing right now. That drum line is sick :rockon:

So I can't do this all alone and YOU the forum participants are a huge driver of where I am now. So THANK YOU!!

I also want to personally thank a few people. Give them some forum love if you can:

@MJ DeMarco - Couldn't get this far without TMF or the Forum, Thank you.
@Vigilante @AllenCrawley @Andy Black - Thanks for the huge volume of sincere help through your posts, it is appreciated!
The entire B&P gang, you know who you are
The entire C&B gang, ditto
The Ecomm mastermind group
Each individual poster in my threads. I read every one several times. I find value in them all and try to use your gifts the best I can!

Well I am off to do some more "lion shit" so here's to year #4!
 

mws87

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It's here! My 3 year anniversary on the Forum! Wow, what a trip.

In my first anniversary you saw where I was working on myself and my thinking. Year #2 brought trying some new businesses and new fastlane strategies. The big push for year #3 was to get in the right "vehicle". The intent was to get in a vehicle that gave me a chance to hit my goal. You can follow that progress thread here (I will update that thread later to reflect this one). My vehicle was found by identifying a hungry MARKET which paired with some of my existing talents. I drilled down to the core NEED of that market. I then developed a PRODUCT to fill that need.

That product happens to be building spec houses. Here is a sneak peak of where I am with it:



Year #3 wasn't all about finding my vehicle though. I kept putting in the time with all the other life changes identified in year #1. Here are my favorites:



That's 18 lbs of belly fat gone :)



That's my girl's medals for the last 2 golf tournaments she entered :) I devote Tuesdays to helping her achieve her goal of "becoming a golf professional". I can do this because my "vehicle" is pretty darn passive.



Here's my WIN box you hear me preaching about. I give code names for all my wins be it small or large. You will also see tasks lists, accelerators and various other tracking columns. I find it very helpful to accelerate, track and celebrate wins (feel free to steal this)! If you look in the corner you will see my personal golf handicap drop 1.1 strokes this year as well :)

I find myself in a good place this year. I haven't struggled near as much compared to years #1 and #2. Here are a few things that made this year smoother:

1. I sold or closed all my other businesses to focus on just 1. Mentally I seam to have more capacity and generally make better decisions pushing #1 without other businesses stealing my attention (even if it is sub-conscious).
2. I play cash flow a good bit. Thanks @Russh. I support Russ's assertion that you have to play it at least 10 times, here is the link.
3. I threw away my safety net income producers. These were time sucks but fear made me keep them. Not any more.
4. I'm not quite to Zero Fu&*s given but let me tell you, closer is better :)
5. On the opposite side of that, I try to contribute to others regardless if they appreciate it.
6. I have a few mental images to randomly pull up when things head south. They remind me to appreciate what I have and what may be one day.
7. I'm working on the concept of "honor what you can". This concept is for dealing with negative people (that you can't remove from your life). It's giving me my power back without harming that person.
8. I'm really starting to appreciate some overlooked music. Noticeable One by Missing Persons is playing right now. That drum line is sick :rockon:

So I can't do this all alone and YOU the forum participants are a huge driver of where I am now. So THANK YOU!!

I also want to personally thank a few people. Give them some forum love if you can:

@MJ DeMarco - Couldn't get this far without TMF or the Forum, Thank you.
@Vigilante @AllenCrawley @Andy Black - Thanks for the huge volume of sincere help through your posts, it is appreciated!
The entire B&P gang, you know who you are
The entire C&B gang, ditto
The Ecomm mastermind group
Each individual poster in my threads. I read every one several times. I find value in them all and try to use your gifts the best I can!

Well I am off to do some more "lion shit" so here's to year #4!
Some serious motivation here. Thanks, man. Can't wait to see what the future has for you!
 

Vigilante

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Gold.

edited by Vigilante : This thread was changed to gold in July 2016, but to those who come across this later, please start at the beginning, read each post and the progression in this thread by Get Right, and you will see the bread crumbs he left for you that caused this thread to turn gold in 2016
 

zargor

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Dec 31, 2015
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It's here! My 3 year anniversary on the Forum! Wow, what a trip.

1. I sold or closed all my other businesses to focus on just 1. Mentally I seam to have more capacity and generally make better decisions pushing #1 without other businesses stealing my attention (even if it is sub-conscious).
2. I play cash flow a good bit. Thanks @Russh. I support Russ's assertion that you have to play it at least 10 times, here is the link.
3. I threw away my safety net income producers. These were time sucks but fear made me keep them. Not any more.
4. I'm not quite to Zero Fu&*s given but let me tell you, closer is better :)
5. On the opposite side of that, I try to contribute to others regardless if they appreciate it.
6. I have a few mental images to randomly pull up when things head south. They remind me to appreciate what I have and what may be one day.
7. I'm working on the concept of "honor what you can". This concept is for dealing with negative people (that you can't remove from your life). It's giving me my power back without harming that person.
8. I'm really starting to appreciate some overlooked music. Noticeable One by Missing Persons is playing right now. That drum line is sick :rockon:
Can you expand a bit on your third point about the income producers. What was the ultimate point where you crossed the line from being fearful about losing them to ultimately saying "Screw this"?
 

zargor

Contributor
Dec 31, 2015
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Happy to, thanks for the nice post.

Failure report:

Business #1 - Service biz B2C, violated Time in a major way. I literally couldn't get out of being "the" guy. Clients didn't want to deal with my employees when they had my phone number.

Business #2 - Service biz B2B, violated Time again. This was a remote business but eventually the clients found out it was mine. They preferred to call me directly instead of going through the remote business.
Many congrats Get Right for your success to date (and what no doubt you will achieve in future ... and not just with your businesses).

Given your experiences with the previous 6 businesses, would you say that satisfying not so much the time criteria but more the scalability criteria of a fastlane business would be very difficult with a service business, especially if that business relies heavily on the relationship customers/clients have with you? I'm thinking in particular of professional service businesses where there is a huge trust element, where you may know almost their entire financial life and you can only spread yourself so far.

Kudos to you on everything you've achieved to date and what you can pass on to your daughter.
 
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Wow guys, thanks for the encouragement! A GOLD thread, I'm humbled.

Can you expand a bit on your third point about the income producers. What was the ultimate point where you crossed the line from being fearful about losing them to ultimately saying "Screw this"?
Sure thing. I had a small Ecomm business that generated $1-2k a month in a somewhat passive manner. I didn't spend much direct time on it but mentally I was always thinking "I should make a new ad or I should be contacting my customers more". One day I just got real with myself and said "I have no interest in growing this business, so why am I wasting time thinking about it". The ultimate point was when I convinced myself that "I can easily make my new venture profit an extra $1-2k a month by spending the same amount of time as the Ecomm biz".

Given your experiences with the previous 6 businesses, would you say that satisfying not so much the time criteria but more the scalability criteria of a fastlane business would be very difficult with a service business, especially if that business relies heavily on the relationship customers/clients have with you? I'm thinking in particular of professional service businesses where there is a huge trust element, where you may know almost their entire financial life and you can only spread yourself so far.
Happy to help. I wasn't able to get my professional service businesses to comply with either the SCALE or TIME portion of CENTS. If you think about it, there aren't many ways for this to work. It's probably why I've never met a rich Architect. Now if you take that service business and figure out how to pivot to a more "repetitive business model" you might have a chance. It's the one-off custom stuff that kills you. Always creating, never profiting.

Another example of this would be an ER surgeon that treats whatever illness/situation happens to come into the ER. Every patient is something new to figure out. He would do well financially but take that same surgeon and let him create a repeatable procedure he could license throughout the world. Who makes more and has time to spend it :)
 

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