Hi fellows,
Greetings from Europe! Glad to be here and I have read MJ's both books which really made an impact.
A small intro: I have job as international sales director making around 170-200keur per year including bonuses (note that the taxman takes 50% here) in IT sector.
Some side hustles:
Some ideas that concern me at this time:
Here it is for the time being. Now I will indulge myself to the forum content. Looking forward!
Greetings from Europe! Glad to be here and I have read MJ's both books which really made an impact.
A small intro: I have job as international sales director making around 170-200keur per year including bonuses (note that the taxman takes 50% here) in IT sector.
Some side hustles:
- A small manufacturing business with my friend with annual revenue up to 30-50keur (no profit yet, all is put to R&D + filling the stocks). Here we are selling to consumers but lost earlier 5meur deal with 2.5meur margin which resulted few quiet years. Now we have another deal abroad for almost 10meur but the tender has been stopped due to Covid. Note that the big deals have a very small probability. The plan is now to hire one full time employee and sell 100keur to consumers in 2021.
- Real estate investment. I figured out how to do this in 2020. Now I have around 1meur worth of new studio apartments with double leverage and very little own money. I still need to put around 50keur into the vehicle and then it will feed itself while making around 1meur in the next 10 years. This is the most that I canmy current income level. I see this as a vehicle where I will pump all the excess liquidity from other side hustles.
- IT company. Here I am in a bit of trouble. The idea is great, even earthshaking but we have a bad team and it is keeping me back of putting my full effort here. IPR is there but with 0 sales.
- Start-up investments. I am investing 10keur here and there through my holding company.
Some ideas that concern me at this time:
- Why some people do and some people don't. Ok, Jim Rohn already answered this but this is still a problem with the IT company. I need to find a good solution here.
- How to reach a level of passive income that would free up my time to do projects full-time. This would require an additional 1.5meur to the real estate vehicle or something else.
- Small bonuses on the day job. We will break the all time sales record this year but my bonuses are capped so that I will get only around 200keur. With competitors where the bonuses are not capped, I would probably make 1meur or a lot more. The only problem is that working for a competitor would require a relocation to London where I certainly would not like to live nor raise kids.
- Creating an additional income stream from writing a book and launching connected online trainings.
- On a larger scale I think I have huge untapped potential and my aim is to focus that on making a lot more money and via that - freedom!
Here it is for the time being. Now I will indulge myself to the forum content. Looking forward!
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