There can seem to be times where my mind roams so far and I cannot mentally keep track of everything I am doing. I learned a while ago to force constraints on myself and everything I do. I’ve forced constraints with personal training which helped me increase more time with loved ones. I’ve forced constraints with daily tasks to get more done and increase productivity as a whole.
When I found myself basically freaking out at the magnitude of everything I wanted to do, I decided to force constraints once more. I want to get a lot done in 2015, but I need to better organize my thoughts and action plans. Here are the only three things I’ll be focusing on in 2015.
1. $2,000 /Month Income [Increase Freedom]
A goal of mine has to always create a profitable yet passive income asset that would grant me freedom and the resources to spend my time how I see fit. Simply put, I never want to rely on one income stream to support myself.
So how will I be doing this? I’ll be reaching out to those who have done this on a larger scale and can easily offer advice and guidance to someone starting out. I’ve scheduled a phone call with Ace Chapman after hearing him on The Eventual Millionaire podcast speaking on buying, scaling and selling businesses with little capital.
In the mean time, I’ve made an investment into an online business through Flippa.com. I was able to get the business for $450 and the monthly revenue from the site is roughly $2,000~ /Month. If all works well, this goal will already be complete.
Because I’ll have an entire year to achieve this goal, I’ll focus on growing even more if completed earlier. If my investment yields $500-$2,000 /month, I’ll reinvest the returns into more assets and growing a small portfolio. Eventually growing until monthly revenue exceeds $5,000 /Month. I’ll be studying micro-private equity as a framework for accomplishing this single goal.
TL;DR: Buy/Build profitable asset online. Reinvest returns until $2,000 /Month income. Optional: Continue reinvesting returns until $5,000 /Month is achieved.
2. Complete AA Degree [Increase Value]
I know many entrepreneurs who are against going to college. Hell, I’ve been that person for MANY years. I dropped out to start my first company and don’t regret that decision. Only now have I been able to fully understand it’s importance.
College shouldn’t be simply about getting the piece of paper. College is about networking and learning skills that are useful. Should you get a business degree to start a company? NO, but I love tech and want to learn a lot more. In order for me to do so, getting a computer science degree would make sense, right? I think so.
What if I wanted to combine the two worlds… I would love to get a computer science degree and work towards entering the cyber security industry which is currently growing. Using my entrepreneurship skills and the newly found tech and industry knowledge, I could easily start my own cyber security company, launch a product to a market that I fully understand and have the knowledge to do so.
You need to think laterally in life and not see black and white.
My action plan for achieving this goal is pretty straight forward; Tuesdays and Thursdays are strictly for classes and studying while Monday, Wednesday and Friday are for training clients.
I’ll also be using College Info Geek as a resource!
TL;DR: Get AA degree before a computer science BS to enter the cyber security industry.
3. Fill Personal Training Schedule [Increased Income & Capital]
Currently I focus a lot of my time on growing as a personal trainer. I’ve done great and learned a lot up until this point. So in 2015 I’ll focus on implementing the systems I’ve worked hard to create and optimize. By working this simple system, I’ll easily grow to making enough money per month to support myself, help with college costs and have more money to invest into my first goal.
There isn’t much else to say about this goal. It’s currently my financial foundation and the more I write this post the less I seem to be an entrepreneur. That doesn’t bother me at all. Entrepreneurship isn’t black and white either and there are many forms. There are many people who love their “9-5”, but also love growing, buying or selling businesses.
To me, entrepreneurship is about building a lifestyle you want. It’s about having true freedom, but doesn’t require you to quite a job you potentially enjoy.
Here’s what I want in life:
- Passive Income Online $5,000+ /Month
- The Freedom to travel or spend time where and how I see fit
- To spend the majority of my time on things that interest me no matter what they are
- Healthy relationships with friends and family
Do all entrepreneurs want to change the world? Probably not and that isn’t a bad thing. I want to design a life of my own creation. I don’t need an amazing new tech startup with VC backed funds to do so. Cut to the chase in your life and cut out the excess baggage. Take the time to understand what you truly want and don’t turn away from it no matter how simple or extravagant it may be. If you need help from here, read my Success Framework post on how to achieve success in anything in life.