April 25, 2012, 5:00 am

How To Get The Ball Rolling

by: The Financial Blogger    Category: Business,Career
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Have you ever had the feeling that some people keep getting windows of opportunities and they seize them one after the other?

 

Have you ever had the feeling that the very same people keep increasing their net worth at a supercharged pace while you are struggling to gain 5% over the year?

 

Finally, have you ever had the feeling that good things happen to those people all the time?

 

You are not wrong. Those people exist. But they are like you and I. There is only one thing different about them. They get the ball rollin’!

 

Getting Which Ball Rolling Where? (Mike, What Are You Talking About????)

 

You probably know what I’m talking about but I just want to make sure. At my day job, I meet several people like this everyday. They all have one thing in common: they never stop. They run 10 projects at the same time and always have something in mind for future projects. They have a vision of where they want to be in 1, 5, 10 years from now. They don’t have a complete plan written but they have several ideas to reach for.

 

They obviously didn’t start all their projects the month before. They have been planting seeds for a very long time and keep planting more while harvesting from their first projects. This is what I call “getting the ball rolling”. It is developing projects, relationships and establishing plans to create wealth on a daily basis. Most people are satisfied with their 9 to 5 job and wait 30 years to pay off their mortgage and hope that they won’t run into any bad luck during that period so they can retire peacefully. These people don’t get the ball rolling. They don’t try to create wealth, they just try to avoid bad luck and pray that this shaky hope will weather the storm.

 

How You Can Get The Ball Rollin’

 

They are tons of ways to get the ball rollin’:

 

You can save money to buy land or a rental property.

 

You can develop relationships with important people in order to get a promotion or build a business partnership.

 

You can invest time and money into a sideline to create additional revenue.

 

You can go back to school part time to learn more and expand your network (read my MBA experience).

 

You can try different partnerships (it can be very small though) in different fields to gain experience.

 

Or you can do all the above at the same time. The key point is to start doing this right away. Get many balls rolling in many directions. Honestly, several projects will fade away naturally and won’t be profitable. However, the experience you gain while doing them is priceless. Before I started my online company which is a true side income success, I had 3 others company projects that faded away and didn’t create much wealth. The first one was a distribution service which had helped me paying for my tuitions fees. The second was a computer building/repairing service during College which ended 18 months after we started. The third one was me going online by myself with celebrity sites…ish… do I have to tell you how did it went? Very bad!

 

How I Get The Ball Rolling

 

Fortunately, amongst the several projects that I started, I’ve been able to see some success. At the age of 22, I bought land and made 4K of profit within a year. At the same time, I was trading on the stock market (with funding from my line of credit). Those 2 investments lead to my 25% cash down payment to buy my first house. I was saving aggressively ($1000/month) for 3 years before starting my family on the right foot. Today, I have almost 100K in equity on my house.

 

In my 20’s, I earned my CFP title along with an MBA. My performance and diplomas lead me to a great career in the financial industry where I’m now in wealth management at the age of 30. I now have a great network and a solid knowledge base to pursue  my domain. My future income forecast is quite interesting in this field at the moment and I don’t have to work 60 hours a week to be successful.

 

A few years ago, I started an online business which provides me with a “plan B” if I ever lose my job. At the moment, we are reinvesting most of our profits to make the company grow faster and increase our revenues. The fact that we don’t need the income from the company makes our investment decision a lot easier. We have a long term vision. This sideline is still growing and I’m expecting to reap some great benefits in 5 years or so.

 

And you know what? I’m still looking for more! While I have my house setup, career on a great path and a side income growing, I’m starting to think about a new project. Why? Because the more balls you roll, the dough you get!

 

Potential Projects

 

At our current pace, we should be able to pay off our business loans with the next 2 years. I expect that we will keep a certain level of liquidity and would like to buy real estate. Why would I buy a rental property instead of buying more blogs? We will continue to buy blogs, but we would like our company to be even more diversified. The real estate market should eventually drop upon a rise in the interest rates. I’ll be sure to be around to buy something at that time!

 

Another of my projects would be to buy land in my area. I really enjoy where I live and think that another piece of land could increase my net worth over time. The worst case scenario would be that I sell my current house to build a new one on that land in several years. The best case would be that I sell the land for an important profit. Since the economy is growing in my area, I’m pretty confident there will be a great demand over time.

 

I hope to find even more projects but I need to stabilize my finances first. This year will be concentrated on dropping my debt level and getting rid of a lot of consumer debt. Then, I’ll aim for more. I think it is crucial to continuously seek out more projects in order to get some winners out of them and let time play in your favor. I told you yesterday that your most important window of opportunity is between 25 and 35… I don’t have much time to lose! Only 5 years to go!

 

Readers, do you get the ball rolling? Do you have any side projects? Have you experienced any success yet? Any failures?

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Comments

Hey Mike

You heard about the latest Google algorithm changes? How are your sites holding up?

by: The Financial Blogger | April 25th, 2012 (7:53 am)

Hey Aaron,

I haven’t seen a big change in the last month. There was an algorithm change about 2-3 weeks ago but it hasn’t affected my overall traffic. that’s good news ;-)

Great points Mike! I agree never put your eggs in one basket. Though I am diversified online it is still “online income”. My goal is to have income come rental properties, online, day job, barbershops, selling motorcycles. etc. If something fails there are other things making up for it or at least still maintaining. Keep pushing I like the your plan. I never really thought about buying land. Something I should consider.

It just rolled out last night :) If your traffic still holds, good job!

by: The Financial Blogger | April 25th, 2012 (10:18 am)

I never check my intra day traffic but it seems that I still get visitors this morning ;-). I’ll know in a few days. I check my stats daily (in the morning for the previous day) but I always wait a week to know if there is a real trend or it was just luck/bad luck :-)

[...] I’m going to talk about someone who saw one of those windows of opportunity and seized a while ago. I’ve recently talked about how you should get the ball rolling in order [...]