The  Route To Living Our Dreams - Part 1
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The Route To Living Our Dreams - Part 1



This is part 1 in my series of rethinking a business model and achieving financial independence.

This is part 1 in my series of rethinking a business model and achieving financial independence.



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The Route To Living Our Dreams - Part 1 Presentation Transcript

  • 1. The Route to Living Our Dreams Part 1
  • 2. Are We Too Smart for Our Own Good?
  • 3. Being in technology, I have certainly had some financial success
  • 4. Almost anyone in my line of work gets relatively well compensated.
  • 5. However there is a flaw in the equation.
  • 6. If we stop working we don't get paid.
  • 7. I got laid off twice in 13 months.
  • 8. If you have ever gone through this, you know it isn't fun.
  • 9. In retrospect, it was the best thing.
  • 10. It was because of this I formed my own corporation. I embarked on a whole new learning track.
  • 11. The first thing I learned was the value of networking and meeting lots of people.
  • 12. This enabled me to see things through others' eyes.
  • 13. In particular I paid attention to those who had succeeded to the levels I wanted.
  • 14. I spent 6 solid months doing nothing but building a software consulting business.
  • 15. I had some success but it was never going to produce the results I wanted.
  • 16. I had to network, sell and deliver. It is really difficult to do it all.
  • 17. I could see that the problem was the fundamental way I was trying to do business.
  • 18. I decided to stop and take time to reconsider my business model.
  • 19. I spoke to anyone I could find and asked them how they structured their business.
  • 20. During this period I spoke to many people, went to numerous meetups, barcamps
  • 21. Here is some of what I learned.
  • 22. Many technical people don't think business in the right way.
  • 23. They can be great at making technology work and still be broke.
  • 24. They follow their passion at the expense of getting paid.
  • 25. It's not that they don't often make a great salary. They often do.
  • 26. That leads me to the second thing I learned.
  • 27. Getting paid is not about salary.
  • 28. Recurring revenue is what is important. Far far more important.
  • 29. Think about buying a house and renting it.
  • 30.
    • Each month, rent comes in.
    • 31. Do we have to work for that rent every time?
    • 32. Do we have to find a new tenant every month?
    • 33. We find a tenant once and that income keeps coming in for several years.
  • 34. This presentation is not about real estate. It is about a concept that isn't new.
  • 35. The key is to set up a series of income streams.
  • 36. It does not matter how much the income is.
  • 37. What matters is that it runs on its own once it is up and running.
  • 38. The next step is to start on the next income stream.
  • 39. This model produces very little results at first.
  • 40. Eventually, the streams add up.
  • 41. 5 Income Streams
  • 42. It is important to hammer home one point.
  • 43. Getting Paid is Priority 1
  • 44. It does not matter what business it is.
  • 45. Simple is better.
  • 46. If we focus on getting paid using the right model and getting paid, we can achieve financial independence.
  • 47. End of Part 1