The Only 3 things I’ll Be Focusing On In 2015

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:

  1. Passive Income Online $5,000+ /Month
  2. The Freedom to travel or spend time where and how I see fit
  3. To spend the majority of my time on things that interest me no matter what they are
  4. 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.

 

Dillon Carter

Hey there! I'm a young entrepreneur who blogs about my personal experiences, hacks and lifestyle while also teaching people how to begin working with virtual assistants.

  • John Missikos

    Hey Dillon, thanks for an excellent post. Very clear goals you set there. One question though, why would someone sell a website for $500 if it makes $2k/month? Unless they can pump them out faster than the month is out or that they degrade/need maintenance? Thanks for letting me know about Flippa and look forward to seeing you achieve these goals. -John

    • Dillon Carter

      Hey John, I’m working on fixing the comment as the text is currently white for some reason.

      Anyways, I’m not sure why the seller wanted to sell the site. It could be that it is on a downward trend or simply doesn’t have the time to maintain or grow the site. There is an obvious and inherent risk when it comes to purchasing websites.

      Because Flippa is mainly an auction style platform, most sellers will create an auction with no reserve to entice bidders and hope that bidders will quickly raise the price.

      There are a few different platforms or marketplaces where you can buy and sell websites, each having it’s own style. For Flippa, the multiple (typically a 1x of the months earnings) is what sellers sell sites for. On sites like empireflippers.com however, sites are sold for at least a 20x multiple of its monthly earnings.

      I’m testing a little arbitrage idea where I buy sites on Flippa for basically a large discount, maintain or grow for 3-4 months and then sell them on a larger site like Empire Flippers. You can see how easy it would be to turn a $500 investment into a $40k return within half a year.

      • Justin Cooke

        Hey Dillon,

        Nice blog and great to hear you’re reaching out to Ace – he’s a really sharp guy.

        Now – to the idea that you can buy a $2K/month site for $500…

        I’m 99.9% sure that any site you buy for $500 claiming to earn $2K/month in profit is BS. There are a ton of different ways this could be a scam, obviously, but let me put it to you through two points:

        1. Can you see any seller in their right mind selling an asset for the same price they make in a WEEK? Hell, they’ll make what you’re paying for it in the 1 week is takes to turn the site over to you!

        2. Why didn’t the 1000’s of daily buyers on Flippa bid this up? You have to pick through to find the gems on Flippa, but there are thousands of people doing that every day. While some gems may have snuck through years ago, that’s just not the case today – valuable sites gets many looks/bids.

        As a general rule, expecting to pick up a valuable site for less than 10X on Flippa is like hunting for a unicorn. That’s not to say there aren’t scams at 10X or more, it’s just almost guaranteed under that.

        Sorry for the somewhat-negative advice, but I wanted to share our experience in the industry.

        • Dillon Carter

          Hey Justin. Never thought I would have someone like you commenting on one of my posts!

          My Response:

          1. I completely agree. No seller in their right mind would sell a profitable site for less than 10x of the monthly income.

          2. Honestly, they know way more than I. Which leads me to my current result; the site isn’t profitable…

          After taking roughly two weeks to transfer the site over the holidays, I began watching the analytics and testing. The site is getting a consistent amount of traffic (1,000~ /Day), but I have yet to successfully monetize it. The conversions are horribly low! I’ve learned my lesson, as I’m sure most have with Flippa.

          So why did I purchase this site? Starting with relatively low capital and wanting a small amount of cash flow, it seemed right. I would love to purchase a site from EmpireFlippers.com, but they are a bit out of my reach for the time being.

          Your advice isn’t negative at all. It’s simply the truth… I made a mistake that many seem to do, but are too ego-driven to see. I thought I was special enough to get a steal of a price on a profitable asset.

          Thank you for taking the time to comment on my post and lend your advice Justin. I’m planning on writing a post on this learning lesson for others to hopefully benefit from.

        • Dillon Carter

          Hey Justin! It was a huge suprise to see someone I look up to commenting on my site 🙂

          Now, my responses:

          1. I can’t. I had a very hopefull mentality with the whole process.

          2. They obviously know more than I do…. Which leads me to my current situation; The site isn’t profitable at all.

          The site gets around 1000~ views per day, but I’ve yet to make over $0.05. In total!

          I’ve listened to your podcast for the past year or so. All I’ve been thinking about is how to either build or purchase a cash flow asset. I got a bit of the unicorn syndrome and thought I had hit the jackpot (due to my lack of experience).

          I have been watching EmpireFlippers.com marketplace for a while, but the sites are a bit out of reach for me. Flippa seemed like a good idea for someone with low capital to invest into a site. Unfortunately it doesn’t work that way.

          I’m writing a blog post about this learning lesson now and going over what went wrong and what I can do to still achieve my goal without being scammed again.

          I’ve been listening to the episode you did on how to purchase a site without any money. Still not sure how to go about doing it with confidence.

          Would be amazing to see Empire Flippers do a little case study on someone doing just that and an in-depth conversation explaining how!