Hi everyone,
I'm from the UK and just came across this site and also TMFL very recently - interestingly whilst researching Tai Lopez!
Anyway, I'm partway through the book and it resonates with me a lot (to say the least).
I would say I've been on the sidewalk for quite a while. Thinking I was 'the man' with flash cars and the rest. Load of bollocks though and I just got myself into debt.
Recently I've been trying to resolve this and yes, you guessed it, I'm on the slowlane! Started putting money away into pension, aiming to overpay on mortgage, 'reigning things in', looking at MBAs/other qualifications, reading stupid books. I think I found the TMFL and this site just at the right time!
My situation is this - I co-own a web dev agency and we do 'OK' (in a slowlane sense). No where near where I want to be though. The golden age of this industry is over and it's becoming a race to the bottom with regards to pricing. Yet client expectations don't change so we're having to work more and more for less money.
Anyway, I've always been striving to create something that will create a passive income etc. but not really had the tools or mindset to go for it properly. Tried a few things but realise I was only creating situations where I was having to work more and harder.
This is where I want to be - I want an income to support me and my family (no kids yet) and want my wife to be able to give up work when we have kids. She has an incredibly demanding job that she doesn't love.
I have a few ideas that I'm exploring that are broadly:
I need to finish reading the book for a start. And then re-read it!
I'll also be trying to get involved on here and will share my own knowledge where I can.
I'm from the UK and just came across this site and also TMFL very recently - interestingly whilst researching Tai Lopez!
Anyway, I'm partway through the book and it resonates with me a lot (to say the least).
I would say I've been on the sidewalk for quite a while. Thinking I was 'the man' with flash cars and the rest. Load of bollocks though and I just got myself into debt.
Recently I've been trying to resolve this and yes, you guessed it, I'm on the slowlane! Started putting money away into pension, aiming to overpay on mortgage, 'reigning things in', looking at MBAs/other qualifications, reading stupid books. I think I found the TMFL and this site just at the right time!
My situation is this - I co-own a web dev agency and we do 'OK' (in a slowlane sense). No where near where I want to be though. The golden age of this industry is over and it's becoming a race to the bottom with regards to pricing. Yet client expectations don't change so we're having to work more and more for less money.
Anyway, I've always been striving to create something that will create a passive income etc. but not really had the tools or mindset to go for it properly. Tried a few things but realise I was only creating situations where I was having to work more and harder.
This is where I want to be - I want an income to support me and my family (no kids yet) and want my wife to be able to give up work when we have kids. She has an incredibly demanding job that she doesn't love.
I have a few ideas that I'm exploring that are broadly:
- a website that is a resource for specific people. My wife is an expert in this field but it's a huge competitive area so need to figure out if it's worth making a dent. Monetised by ads (I know this is getting harder than it used to be too)
- a simple software type product that I can apply my current skills to build (and use other experts I know). This would be a low cost product for small businesses and the would require volume subscriptions (finger in the air subscription cost £9.99 per month)
- general affiliate marketing/lead gen. Been researching this a bit lately and it seems like a minefield and potentially something where the costs can spiral if experience is limited (cost of traffic/ads/etc). But also incredibly lucrative potentially. Lots of 'snake oil' merchants in this area I believe (GURUs/'Paradox of practice' types)
I need to finish reading the book for a start. And then re-read it!
I'll also be trying to get involved on here and will share my own knowledge where I can.
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