It all started with me going down a new path. This path would be long-term and have the potential to not only fulfill my life with more positivity but also begin really building my wealth. I want to change lives but also keep control of my entrepreneur endeavors. I want structure, freedom and excitement; I want to start my new life. After digging down deep into what I truly enjoy in this world, which was harder than it should have been, I came out with my new path. This path is filled with opportunity and fulfilling work. I was to become a Certified Personal Trainer.
I know that doesn’t quite have the ring to it or that much excitement as you read this but let me explain a bit more. I will not just be a personal trainer, my mind would go numb at the thought of never creating or starting something ever again. Instead I wrote down all of the different things related to the fitness industry that also correlated with what I already enjoy. I came out with a few things I have added to my “Red File”, more on this later.
My friend and I were already considering starting a fitness apparel company because we both love working out and wanted to create something of our own. Our first company had failed and it was time to recover and move onto something we were more passionate about. Never start a business just to make money. Do something you love or are passionate about because when you hit the “Dip” as Seth Godin calls it, you will do whatever it takes to fight through the tough times and come out victorious.
The second idea I came out with was helping busy entrepreneurs discover ways to eat healthy and workout while starting and growing their companies. I want to create a platform to help these people continue or start to live a healthy life while working towards achieving their goals. Eventually I would create a podcast to better serve this community and give them various media to learn and grow from.
So how can I do all of these things without burning myself out and focus on each one to be successful?
While thinking of how large and time consuming these projects would be I came to terms with how long it would take for each one. So instead of learning everything I need now to achieve each goal I focus on a couple at a time, always enough to be managed but a large enough work load to keep me progressing and the pressure on so I can grow.
The Red File is something I created to help me better structure all of these things within one page, printed and put on my desk to be seen every single day.
I break everything down into phases. Once I have written everything down I wish to accomplish I determine which ones should be put into which phases. Essentially creating a path to accomplish all of my goals.
Here is an example of what my Red File looks like:
Description: The overall goal is to develop a path, which will lead to consistent progress of knowledge, reach and finance. Through breaking down the over all steps into actionable phases, I am able to focus on a very small group of goals while also leading me into the next path once those goals are accomplished and semi-automated.
- Certified Personal Trainer
- Start Fitness Apparel Company
Projected Monthly Income: $3,000+
Side Note: Studying to get certified as a personal trainer takes up a large amount of time, as you need 4-6 months to study and hopefully pass the test. While this is happening my partner and I will begin creating the fitness apparel company. Two easily manageable goals.
- Create Entrepreneur Fitness Platform (Blog/Info Products)
- Grow/Expand Fitness Apparel Company
Projected Monthly Income: $5,000+
Side Note: For this phase I did not want to take on too much but focus more on growing what already exists into great assets. I would also still be training my clients and growing my training business as this would be a semi-stable income to support myself.
- Growth of Entrepreneur Fitness Platform
- Create Entrepreneur Fitness Podcast
- Automate Key Structures of Fitness Apparel Company
Projected Monthly Income: $10,000+
Side Note: At this stage I plan on utilizing methods from the 4 Hour Work Week to automate and make use of virtual assistants to consistently grow the fitness apparel company and extract myself as much as possible from the company, becoming a “Virtual CEO” (Read Virtual Freedom by Chris Ducker)
The projected monthly income is from my expectations of myself and the accumulation of creating profitable assets over time. The numbers may change dramatically once reality touches them but it gives me great milestones to reach for.
I am currently in Phase 1 and do not think about anything in phases 2-3. Once I have successfully accomplished everything within phase 1, I will shift into phase 2 and focus on those milestones. I could break down my Red File even more if need be to create milestones within each goal of the current phase to keep me on track.
I hope the Red File Theory helps you tackle your larger goals in life as it can be used for anything; from entrepreneurship to learning a new skill.
I would love to read your thoughts on this idea of mine and if you plan on using it, what for!