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Transitioning to Unscripted Lifestyle

Discussion in 'The Unscripted Entrepreneurial Mind' started by Big_Benny, Aug 19, 2018.

  1. Big_Benny
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    Big_Benny Contributor

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    Hi everyone,

    My name's Ben and I'm 32 from Australia. Currently I work for a large financial institution in a Senior Management position and my partner also works for the same company, as a Marketing Manager.

    Combined, we earn more than $250k annually, but have wanted to transition to the unscripted life for quite some time.

    I really enjoy my job and very proud of what I've accomplished so far. I grew up poor and malnourished, my father had severe autistism and I had severe ADHD and dyslexia. Further to this, I also had a cancer diagnosis almost 9 years ago (osteosarcoma).

    Now life is very different and I live a very comfortable life with good health, good income, no debt, good cars and holidays. Through meditation and other techniques I self manage my ADHD and have overcome my dyslexia and read dozens of books.

    In fact, life is too comfortable now and I know I'm capable of much more. If I continue on my current trajectory, then I know I will likely live a happy life and have $3 - $5m by the time I'm 65.

    However, deep down, I'll know that I always could have been more and I don't want to have that regret, but I also don't want to stuff it all up and end up living a mediocre life.

    When I had cancer, I lost everything except my life. I sold everything, lost my house and was sleeping on the floor with just $400 in my bank account. Whilst this was the toughest 3 years of my life, it was the best character building experience - which I'm extremely grateful for.

    Transitioning to the unscripted life is what I know I need to do, so I'm looking for advice and anyone who is in a similar situation or has been in one?

    My brain goes a million miles an hour and a struggle to know where to start which I'm sure many of you can relate to?!

    Keen to hear the stories and advice of those who have successfully made the transition. What were the biggest challenges? How you started? How has your income grown? Did you transition while still keeping your job? What would you do differently? Would you do it again? Do you miss your job?

    If I went broke again I know that I would recover, but I also know that it's been incredibly tough and 6 years of blood sweat and tears.

    Thanks for taking the time to respond and provide your feedback and advice.

    Cheers!
     
    Last edited: Aug 19, 2018
    Tommo, DVU and MJ DeMarco like this.
  2. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Your avatar is my old Lamborghini, I used to own a silver 2001 6.0 -- that's the pic!

    Anyhow, thanks for the intro, glad to hear you beat the big C.

    Start with having zero debt and arrange for your major consumption expenses to be taken care of through passive income, that would be your home being owned free and clear.
     
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  3. Big_Benny
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    Big_Benny Contributor

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    Thanks for the warm welcome MJ and thanks for your excellent books - which I've read and listened to many times!

    Luckily I'm starting from zero debt, but ultimately I don't have any passive income beyond some dividends and a YouTube channel.

    I've looked at purchasing franchises in the past, however the capital investment and time commitment is not conducive with a lifestyle I want. Ultimately, you're governed by their rules, the market may change (particularly in the local area) and you're unable to adapt and meet changing consumer demands outside the franchise rules - plus earnings are always capped because it's not possible to scale or leverage other than hiring more staff.

    Vending machines is another opportunity which I've been investigating, but ultimately looking to find my feet and get advice on building a passive or semi-passive income stream to take care of my expenses while working toward building a bigger and more scalable business.

    Cheers
     
  4. ZCP
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    ZCP Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    @Big_Benny just get started. Get a few passive streams going. Try vending if you have found an opportunity there. If it doesn't work out, you can always sell the routes.... in the meantime, you make a little cash and LEARN a LOT. Check the ads and listings for small businesses like that for sale. Let people know you are looking. Call the local bankers and see if they know anyone. Find the local business brokers and tell them your parameters. Buy dividend funds. Look into real estate.

    Goal for next month, make $100 passive. Then keep moving the goal. Welcome!
     
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  5. Big_Benny
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    Big_Benny Contributor

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    @ZCP thanks for the support! I like your suggestion of starting with a small but achievable goal and highlighting the fact that in the meantime, you make a little cash and LEARN a LOT.

    I've successfully used this goal setting technique in the past, where I keep ratcheting up the size of the prize.

    Cheers!
     
  6. ZCP
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    ZCP Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    don't just like it. do it. get started right now. find a business to buy and a business to start.
     

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