Set and Then Forget… (at least for a little while)
As an aggressive entrepreneur, I was ready to conquer the world at a very young age. My plan was to out-work, out-innovate, and out-run my competition at all costs until I was financially free.
I started a lawn mowing business… then a custom T-shirt business… and then a motivational poster business…
After several years of intense entrepreneurship, I had reached my mid-20’s… and I was still broke.
Stabilize Your Finances
Financial stability starts with steady income and low expenses, NOT with a great investment or the next great entrepreneurial idea. It took me awhile to realize this, but it’s only when you have a strong base to stand on that you can take big risks.
I always wanted to put risk before stability, but it’s actually the other way around. In America, we’re romanced by the stories of great entrepreneurs. We learn that you have to take risk to receive reward. What isn’t on the front pages is that most of these success stories started with a strong base. Without the security of stable finances to fall back on, these entrepreneurs wouldn’t have been able to weather the ups and downs of entrepreneurship and investment.
1. Get/Keep Your Income… A Job is not necessarily bad
As a free spirit, I’ve always hated “workin’ for the man.” Every time I had a J-O-B, I dreamed about setting up a business and leaving that place behind. The feeling was overwhelming and eventually, I would succumb…
I’d put in my resignation and set out on my next business adventure. Unfortunately, because I’d jumped ship too early, I’d be right back at the job after several months.
Entrepreneurs: Don’t Jump Too Soon
As an entrepreneur coach, I see the same situation over and over again. People come into my office, ready to start a new life. They say, “OK, I quit my job… now what?”
My advice is always something they don’t want to hear:
“Try to get your job back…”
Realize that entrepreneurship is risky.
The Moat Theory
Risk is not something we want to take until we have a stable foundation. Mitch Stephen, a friend and author of the book “My Life and 1000 Houses” calls it The Moat Theory. Get your basics covered and surrounded by a moat before you set off over the draw-bridge with your horse and joust.
Then… if you’re not successful… you can just retreat back to your little castle, pull up the bridge, and regroup.
Financial Gravity
The fact is: you have a much better chance of being successful if you’re operating form a place of security as opposed to a place of desperation. It’s part of financial gravity… people can smell it when you’re weak.
2. Take Inventory… As Painful as it Might Be
The vast majority of people have no idea where they are financially. They might have a vague feeling of “I’m broke”, or “I’ve got some extra money”… but if you asked for their net worth or cashflow statement, they’d just give a blank stare.
It can be a painful process to pull together all of your statements and fill out a financial statement… but the end result is liberating.
Even if it’s bad news… at least you know where you are! Finally, you can start taking steps forward.
Here’s the gist of financial statements:
Balance Sheet
(Your Net Worth)
Add up all of your assets and then subtract your liabilities.
Assets (find the current value of the items below if you were to sell them today)
Home
Savings Accounts
Stocks & Bonds
IRA/401K
Life Insurance
Businesses Owned
Personal Property
Liabilities
Home Mortgage
Credit Card Debt
Student Loans
Auto Loans
Other Loans
Other Debts/Collections
Income Statement
(Income Minus Expenses)
Income:
W2 Income
Real Estate Cashflow
Interest Earned
Business Income
Expenses:
House Payment
Car Payment
Utilities
Insurance
Food
Entertainment
Miscellaneous Expenses
3. Increase Income/Axe Expenses until You are at Least $200/mo Cashflow Positive
Whew, that feels better…
Now that you know where you are, you can take the first step toward tightening up your finances.
If the bottom line of your income statement was positive… great! You can move to the next step (as long as you keep it positive!)
If your bottom line was negative, it’s important to get it into positive territory as soon as you can. Increase your income and/or decrease your expenses until you’ve got an extra $200 a month.
Be Strong
This is where #13 “Get Rid of Insecurities” really kicks in…
If you’re an insecure person, it will be hard to get rid of luxuries in order to be cashflow positive. You have to dig deep and realize that you are making short-term sacrifices for long-term gain.
4. Make a Pact Never to Decrease in Net Worth Again
Now that you’ve proven to yourself that you can maintain a positive monthly cashflow, it’s time to commit.
As long as you always make more than you spend, your net worth will always increase (provided you don’t invest in risky assets… see The Equity Goose and Cashflow Golden Egg)
Take time at the end of each month to fill out your balance sheet and income statement. Check to see that you have a positive number on the bottom line of your income statement and your net worth is higher than it was the month before.
Even if your net worth only increases by $100, you are always moving forward. It’s much harder to catch up from a loss than it is to make a small gain.
When you stabilize, you will notice that your net worth will begin to accelerate.
5. Pay your savings and bills the minute you get your paycheck
Here’s a tip that really helped me do away with “surprise” bill payments. Each time you get your paycheck, make the following transactions in this order:
1. Put at least $200 in your untouchable savings account.
2. Pay all of the bills you owe for that pay cycle.
3. Take out a budgeted amount of cash for all of the day-to-day spending you will incur until your next paycheck.
6. Build a $1,000 Emergency Account
I owe Dave Ramsey for this powerful tip:
Save up to $1000 in your “emergency account” before you make any other financial moves such as paying down debt or making an investment.
It took me awhile to “see” the wisdom (again, I was thinking too hard…), but it’s very powerful.
There is no way you can predict all of the expenses that will appear in your life. Most people spend every dollar they have, and when something “unexpected” happens, they have to borrow to pay for it.
Once you realize that “unexpected” expenses are a part of life… they will no longer be unexpected.
7. Get Your Credit Above 700
After you stabilize your income statement and put away an emergency account, you can start working on your credit.
DISCLAIMER: We’re not building credit so that you can buy more “stuff.” Credit is a fragile tool that we can use to buy income-producing investments.
There’s a complex formula (that’s way above my head) to increasing your credit score. Trying to figure it out will only confuse you. I would recommend finding a reputable credit consultant who can work on your credit on your behalf. (Be careful, there are a lot of credit repair scams out there.)
8. Focus on Building Your “Equity Goose”
Once you’ve built up to a 700 credit score, you can start building your net worth with assets such as real estate. The idea is to buy an asset such as a house at a discount, fix it up, and either rent or sell it.
If you’ve bought the asset correctly, you’ll make $20-40,000 every time you repeat this process.
Never Touch the Goose!
Take those chunks of $20k and put them back into the system…
Never live on the equity of your investments (the goose), only the cashflow (the golden egg).
Stabilize Your Life
I started this article by writing about finances. My intention was to keep your attention, not to suggest that finances are the most important part. Most people like the tangibility of financial advice so that they can apply in their life.
But, the reality is: your financial fitness often mirrors your social, physical, and spiritual fitness. If you’re struggling financially, it may be an indicator of an imbalance somewhere else in your life.
Even though these areas can be harder to measure than finances, ultimately they are the entire reason we seek more money in the first place.
9. Exercise at Least Three Days a Week
The easiest and most immediate way to see improvement in your life is to improve your physical fitness. All of the other areas of your life (including mental, social, and spiritual) are affected by your physical being.
The trick with fitness is simple:
Consistency is more important than intensity.
Getting some moderate exercise three times a week for the rest of your life will do more for your overall well-being than jumping into intense exercise cycles that will eventually burn you out.
A good book to illustrate this point is “The Compound Effect” by Darren Hardy. He points out that massive changes can be made in your life by making consistent, small efforts.
10. Realize that You’ll Be Fine No Matter What Happens
When I face great stress in my life… I always resort to something I learned early in my adulthood:
After all is said and done… you’re going to be fine.
Look back at times in the past when you’ve faced trials and tragedy. In the end, you were okay.
It takes an amount of spiritual maturity to realize it; but even if the worst scenario you can imagine happens… you’re going to be okay.
Take some time to ponder and meditate on this concept and it will free you to face life with more vigor and confidence.
11. Seek Guidance
As a strong self-determinist, I thought I could create wealth on my own through reading books and brute force… It wasn’t until I had a few years behind me that I realized the immense power of seeking guidance… and results started to follow.
Intelligence vs. Wisdom
I’ve always had a very strong intellect (I thought that was all that I needed). What I didn’t realize is that intelligence can actually be an obstacle to success without wisdom.
The difference between intelligence and wisdom is similar to the difference between leadership and management. To borrow from one of my favorite books of all time, “The Seven Habits of Highly Effective People” by Stephen Covey; the managers are down in the jungle, sharpening the blades, organizing a work schedule, motivating the workers, innovating new tree-chopping techniques…
The leader is the one who climbs the tallest tree… surveys the land… and yells, “Wroooong Jungle!”
Wisdom Comes From Experience
The reason it is so important to seek guidance is that wisdom cannot be manufactured through sheer brain-power alone. It can only be found in the minds of those men and women who have been there before.
The great thing is that it doesn’t have to come from your own experience… you can skip the learning curve if you are open-minded enough to listen to the advice of someone who has been successful.
Find someone who is in the financial, social and spiritual position you want to be in and ask them for advice.
Pride
It was hard for me to ask for help in my younger years because I let my pride get in the way. I wanted to become successful on my own.
When I started to seek guidance from people who where more successful than me, my own success increased exponentially.
The World Is Immense
I’ve had the blessing of being well traveled (I would recommend it to anyone). The more I traveled, the more I realized that the world is larger than a human brain can comprehend.
It is almost guaranteed that someone has faced the same obstacle that you are facing now… thousands probably have.
Instead of trying to figure it out on your own, it makes much more sense to learn the wisdom of those who have already overcome.
12. Set Your Intention
The easiest part for me was always knowing what I wanted… I read books on visualizing my goals and I became good at it. I was able to create the feeling of achieving the objective before I even began on the journey.
Having a clear picture of what you want is important to establish in the beginning. Take some time and imagine who you would like to be.
It doesn’t have to be some grand dream… If you’re having trouble with a goal, start with something simple like finishing a good book or smiling more at work.
Engrain it in Your Head
Once you’ve got an idea of what you want, it’s time to engrain it in your head by setting your intention. Realize that thoughts are fleeting… it takes real discipline to engrain a thought in your head. Here are a few ideas on how to set your intention:
• Write it down… the act of writing “crystallizes” your thoughts.
• Leave notes everywhere… on your bathroom mirror, computer monitor, steering wheel, etc.
• Meditate on it… clear your mind and visualize it as if it were real
• Keep a symbol in your pocket… every time you reach for your keys, you’ll bump into that rock or figurine
• Create a vision board… make a collage of magazine clippings symbolizing what you want to become
It’s important to “Begin with the End in Mind”, (as Stephen Covey would say); but it’s also important not to get stuck living in the future dream space. Once you’ve set your intention, set it aside and get back to working on your foundation.
13. Get Rid of Insecurities
Insecurity is a huge obstacle to success. Most people hold some level of insecurity in some aspect of their life. Those who learn how to manage and overcome their insecurities are much more likely to succeed.
A person who is secure with his or herself is able to give to others and create win/win relationships. An insecure person is always taking from others, attempting to fill a seemingly endless void.
Read “Sings of Insecurity” for more on this topic.
14. Participate in Your Hobby at least Once a Week
In today’s fast-paced society, work and making money consumes us more and more. Many people can’t remember the last time they took time to enjoy a hobby.
Taking time to shut off the work thoughts in your head and enjoy yourself “resets” the neurons in your brain, making you more efficient when you return to work.
When your brain is always engaged, it becomes weaker.
Read “The Power of Full Engagement” for more on this topic.
15. Take Time Each Week to Visit with Friends and Family
What good are possessions or experiences if we don’t share them with someone?
The relationships we make and maintain are the greatest investments we can make in our lives. Be sure to spend quality time with loved ones as a part of your weekly schedule.
In Conclusion…
When working on personal development, it can be tempting to jump straight to the more glamorous activities such as investing, entrepreneurship, and shooting for the stars.
None of those things matter unless we have a stable base to stand on. Start by stabilizing your life and finances before you move on to more aggressive investments.
Although I like the article and most of the tips in it, I still know many cases when exactly the opposite has happened. There are people who have the guts and are willing to take the risks and jump straight into entrepreneurship without any doubts and worries.
People whose faith is invincible, whose burning desire is so strong which brings them to the point to play it “all” or “nothing”. However, this article is more close to “reality” and what happens 90% of the time for most people.
Anyway, excellent article! Thanks for sharing your ideas with the public!
Good stuff! Great article on how to put back your finance together!
Great blog, I’m glade I found it!
Excellent post! I agree about quitting job too soon. Been there 🙂 it seems like the person who will follow all the advice in the post will live a happy and balanced life!
Thanks Ani!
Thanks for your article. It will help me to build my dreams. In my opinion the most important thing is to keep your focus in the goal and plan how are you going to get it.
I like the intelligence and wisdom thing. I call being bright and being smart. In all my years of working, being smart always wins in the end.
Wow.. THanks a lot.. You saved me from quitting.. A very well thought article… every step makes sense to me now 🙂
Glad you found some value…
Great post and advice. I feel sad though because I am retired and penniless. Looks like I missed the boat in a grand way.
I feel for you. It’s tough out there, and getting tougher for retired people.
What a great article. I really appreciated all the steps to becoming an entrepreneur and think that this information is very wise in its ideas as far as not leaving your day job too soon and building an emergency account, just some of the great ideas in this article. Keep up the good work.
Chris
Thanks Chris!
Great post, thanks for sharing.
It is always a good idea to prepare for anything that might happen and have something always in our savings account, unlike many others these days, being just one paycheck from being broke.
Amen.
This was a great post! Thanks so much for sharing. I especially loved the part about not quitting your day job before you start making some income on your new business. It’s so tempting to quit your old job right away but it’s not the smartest thing.
Learned that one the hard way!
There are some seriously great tips here. Thanks so much for a great blog. I am going to share this with both of my sons who are currently trying to understand how to mix dream chasing with survival and more! I am so glad I found your blog. You have a dedicated new fan here today!
Great tips, very helpful. “Realize that You’ll Be Fine No Matter What Happens” very powerful when realizing that.
Rgds,
Martin
That is a great article… I have to tell you that I am a big believer that your dreams can come true if you work hard towards your goal. Visualization can play a major role as well but in normal circumstances you will still have to do what you have to do.
Nice blog by the way.
Thanks!
This is a great article. I have done lots of same mistakes. The Habit of Saving should be practiced for life long.
Thank you
I would ad one other comment here if I may! There is a big difference between being an entreprenneur and a businessman/woman. Entrepreneurs are ideas people who often need businessmen to run the outcome of their skill. That is why I valued those who worked for me someone had to follow, picking up the paper as I rushed headlong to the next venture.
There is the old guideline which says, save 10% of everything you earn. Then you will never miss it. A friend developed on this; when we were all at university we were all short of money so why not save and invest everything you earn in the first year after graduating. It just means one more year in student mode but gives a cussion for life.
Great post. But I would add one more important aspect. Trusting and valuing other people. I have never worked for anyone many hundreds have worked for me and I would have struggled to achieve what I have without them. As a leader we must reflect on why we chose to be independent and create for our workforce an environment where they can feel empowered, respected and rewarded for their abilities.
Today it’s not easy to stabilized yourself. All answers come from within. Look for signs and pay attention to your gut feelings. You’ll hear two inner voices when you need to make a decision. The quiet voice is your higher self; the loud voice is your ego. Always go with the quieter voice.
Wonderful post. I think it’s worth noting that whatever you do in life, even in entrepreneurship, steady wins the race. Making big moves every so often won’t get you where you want to go in much of anything. This applies to corporate stair-climbing, exercise, relationships, finances or even writing. Paying attention to markets, doing homework, doing research, listening to those with experience and working consistently works. It can be very difficult to do this while holding onto other obligations and there comes a point where a choice must be made. But, before that, it pays to prepare and plan, get as far as you can.
That is a great article. I have done the same mistakes…counting on my luck to pay the bills and overly optimistic in my income projection. The Habit of Saving is paramount to any long lasting wealth.
Thank you
Really, awesome article. You are absolutely right entrepreneurship is more about your spirit and less about your actions. Sometimes, we get inspired to someone and decide to quit our jobs or take other foolish decisions. But we forget the real objective of entrepreneurship which is to achieve financial freedom. So before taking any foolish decision emotionally, we must analyze our situation, so that we can keep up our journey during hard times. Thanks for sharing such practical and valuable piece of advice. I found this blog just today and it is already subscribed in my browser. This is some of the most genuine self development sites, I have ever read. Keep it up!
It'[s true start with stabilizing your life first and all else will follow.
The theme is diligence. Personal development requires being able to do what you need to do to get the results you need in life.
Nice blog post, what I find more interesting in a JOB is that you can have your money in your bank account each month, regardless the effort you put into it. That’s not bad but I agree that you are forced to feel the “lack of freedom” and that alone can hold you back, specially if you don’t like restrains. There are plenty of ways to accomplish a successful life, and according to my own experience, in a period of our lives is good to have the experience of a JOB and a boss breathing in your back telling you what to do.
But only to have the experience, following Robert Kiyosaki’s teachings you will not want another fulltime job in your life, and I agree that you should seek your personal success in life, whereever it is.
Excellent post! You’re right Brian I think sometimes we aim for all the other stuff but stabilization is the key! Excellent and well written post! Thank you!
Feeling so refreshed after reading this. Thanks so much for sharing. I can’t wait to start reading Stephen Covey. Also, I thought your insecurity article was spot on. I have some things to works towards. Again, great article(s).
Best,
Brooke
Great advice here. I especially resonate with exercising 3 times a week. Personally I find that it gives me a valuable and enforced brek from the business ‘mind talk’ I have with myself. It clears adrenalin from my system and boosts dopamine and serotonin. Also allows me to interact with those unconnected with my business world – very healthy.
Thanks for sharing all your great insights.
I loved the article, the tips about keeping your job and $1,000 emergency account are especially apt.
I have definitely been telling everyone I’m itching to quit my job today but after reading this article (while at work) I am reaffirmed of the need to be patient and build a solid financial foundation. Thanks!
Extremely powerful ideas here.
I think that it’s obvious that I will be back for more wisdom intake. Being an entrepreneur myself I am always refreshingly surprised by the greatness online.
Best
Greg:)
WOW! I’m 17 years old and this post makes so much sense. I make a lot of the mistakes you mentioned here (taking huge risks) but at the same time I feel is the only way to break through and get somewhere in life.
Also as of right now I dont have a lot to loose ($1,000 net worth) which is a good thing.
Important and useful advice for budding entrepreneurs! I would make just one change – move your house out of assets. I think we are deluding ourselves when we consider a house a real asset. You won’t make money from it and you will have to spend money on it to keep it well maintained. Seeing your personal balance sheet without the value of the house can be a big shock – but if you can stand that shock it gives you a much more realistic view of how you are positioned!
Thanks for this. Really powerful and such an important message. I really value you writing it.
I really like this post! Thanks for the sharing Brian Lee. =D
Indeed, lots of time, I try to reach the sky fast, but fall down and achieve nothing. Trial and error, keep on moving. We really need to prepare our backup first, before we fight for our dreams, investment, huge achievement out there.
With that, we can go smoother on the journey knowing that we don’t have to worry that much, with the backup/protection really if it fail.
Thanks again for the post. 😀
Hey Brian,
Wow, what a refreshing article. So grounded. And I love how you recognize the holistic aspects of money. I have had clients whose money problems got solved NOT by addressing money much at all, but by addressing the real emotional issues behind the money issues (such as anger with their parents, or guilt and self-punishment).
I, too, am a big fan of having a surplus of cash. It empowers people to follow their intuition completely rather than “have to” do “whatever it takes” to make the rent this month. Sometimes my biz slows down, but it doesn’t really stress me out anymore because I know it is probably paving the way for my next quantum leap. And I wouldn’t be able to prepare for the next quantum leap if I were freaked out about paying my bills.
It’ll be wonderful when more people in the world are applying this common sense.
Cheers,
Erika Awakening
Great article! I completely agree that you should make sure you are stable before investing into something risky. I learned that early in my life and I have always seen people jumping the gun and putting all of their eggs in one basket. When you do that you could make it big, but you can lose it all as well. The key is to have a stable ground that you are standing on before you make your jump. That way you still have a good upside potential, but your downside potential is limited.
I love your practical style of writing. Its better to bare the truth the way it is. Thanks foor the inspiration.
Hi everyone,
Awesome post! I am in this process myself at the moment. The part on letting go of insecurities definately applies the most, aswell as fears and past experiences that are stopping you from succeeding in this (like where fear of failure/success come from when you were younger for example.)
As i’m letting go of this stuff with EFT (Emotional Freedom Technique) I am becoming more and more inspired and come up with more intuitions of what to do next and I love it!
Each time I let go of something the better it gets!
-Ben
This is one of the best personal development post i’ve ever read. thanks for writing. my favourite is no. 2-Take Inventory.
Wonderful blog post, there are some key points of inspiration embedded here on the post! Great work!
Excellent post!
You definitely have to keep your finances flowing and your life in balance when starting out on the entrepreneur journey.
You should definitely keep hitting the gym, diet, meditation just as hard and consistently as you are at getting your business going.
I really like ‘The Power Of Ful Engagement’ too, it’s a gem of a book for productivity.
First of all great post!
#10 is something I relate to as well (seems like lot of people felt that way), just never heard it put the way you did. I used to worry so much more than I do now, I know that I WILL ALWAYS FIND A WAY! Once you learn that life is much more enjoyable, just need to believe in yourself.
These are 15 great tips, if someone follows all these tips, I’m sure they will see their finances improve over time. I especially like the tip that says to exercise. Exercising will make you feel physically and mentally better. It will definitely help you day to day if you are in a financial slump.
Thank you so much for an article that beautifully balances inspiration and perspiration. I’m reading “Rich Dad Poor Dad” and getting very inspired/motivated, but was also feeling overwhelmed and unsure where to begin, at my age and in my situation. Your article has given me some tangible, do-able, exciting starting points. Thanks again.
Cheers!
Essentially, this is how you _should_ run your business. Entrepreneurship does not necessarily means “wild way of making money” 🙂
Hi Brian,
After viewing your 4th video on Network Marketing, I am looking for the link to your Network Marketing Website – but unfortunately, can not find it.
Could you please send it to me so that I may experience the system.
Many thanks in advance,
Nathalie
Great Article,
But could someone please elaborate on “The leader is the one who climbs the tallest tree… surveys the land… and yells, “Wroooong Jungle!””
I’m afraid I don’t quite understand what is meant by it.
I was considering getting into the vending business to help stabalize my income.
What are your thoughts on the vending business?
Great article though, MUCH RESPECT!
Brian,
This is kind of off topic but I couldn’t find any other way to get in contact with you. I have a network marketing opportunity that I think you would be interested in. Please send me an email (I assume you can get it from this post) if you are interested and I will send you more information.
Thanks,
Dagan
Thanks Brian, talk about slapping you right in the kisser. The insecurities and stability that you speak about provided an amazing aha moment for me.
I now realise why I am not succeeding at being an entrepreneur! The unstable ground that I am on makes it very difficult to have the correct mindset for success.
This is one of the things holding me back. So instead of addressing the issues I have adopted a lottery mentality waiting for that next big break.
I really appreciate the way you have brought me right back to earth. I will definitely be making some changes to address this instability.
I love the 1000 dollar emergency account, yeah that was really helpful!
Hey, great post. I received a lot of great value from this it. 🙂
Hello Brian,
I just put some money into silver. Some say it’s pretty unstable but I truly believe “cash is trash” .
Thanks for the share.
ps: I gotta tweet this one!
Very good advice about taking up a hobby. We need to give our brains a rest at times, to come back energised..
Good Info
Hey Brian! I will enjoy the posts. I hope you keep them up, because I enjoy reading them.
Love the idea of an equity goose, so many people dont get this . $10k compounded at a 50% return on investment over 10 years = over half a million dollars
Great Article Brian..
Its all about focus. Put down on paper what you need to do and then you have a start.., keep working at it by updating your goals daily..
Thanks
I like number 15. Your friends & family needs to be your priority. Who cares how much money you have if you are all alone or even worse, surrounded by people that only want to be near you because of your money?
Great article. Financial gravity is a REAL issue, and plagued me when I first quit my job too early. It kept me scrambling to take care of day-to-day grunt work (ie. urgent) rather than building a good system that will make money long term without my direct involvement (ie. important but not urgent). It wasn`t until I stabilized that situation that I started being able to focus more on the big picture and build the scale of the business as a whole.
Definitely point 10.Sometimes when things back fire there’s that feeling of “its all over now” but when closely examined there seems nothing new under the sun.
You mess up.You fix up.But most importantly you will be FINE anyway.
Yikes! Speaking of Taking Inventory, I think this is something I’m not looking forward to doing anytime soon. But yes, I know it’s a necessary step to stabilize everything.
Great post Brian. I travel around the country helping people with their finances and I see time and time again people jump into a dream only to have it become a nightmare. Sometimes we have to grow slower in order to insure that we keep growing.
I took up an entrepreneurship course and it was always reiterated to KEEP YOUR JOB. This is what’s going to keep you alive for a few years because chances are, you won’t be earning for a couple of years when you start your business. And of course, keeping your expenses low will definitely help your finances.
Fantastic article. I feel like this is a guide for my life right now…currently working hard on #5-7, as well as simultaneously attacking my physical health. Thanks so much for writing this.
Thanks for stopping by!
Awesome post Brian
This is sure a change of pace from the early “job-hating” posts on your blog. I’m glad the real estate investing is putting you in a more profitable place. Intention is one of those frustrating things, because you know your vision will succeed, you just don’t know how long it will take.
I took the corporate route and fed my entrpreneurial desires on the side. I would love to be financially self-sufficient. But, I have a great job that I love and I make a good income. So, it’s pretty hard to complain. At some point, my side income will surpass my salary and that will make the decision easier for me.
Bret
Thanks! I’ve just consulted so many people who just about went broke quitting their jobs…
Hi Brian,
Awesome post – my favorite is #12.
I think intention is very important because its behind every action we make, so when we set our intentions consciously and clearly, we add power to ourselves.
#10 has also been very important in my life because knowing that everything is okay, and that everything will work out no matter what happens – that’s crucial in overcoming serious obstacles. When you know that nothing outside of you can threaten what’s inside of you – you’re free!
I look forward to your next post, Brian!
Cheers:-)
Josip Barbaric
[…] components stable enough to use as a foothold toward your dreams?Genius Types, in a post entitled 15 Ways to Stabilize So Your Dreams Can Materialize, discusses in depth some of the things you ought to do in order to prepare your life to pursue your […]
great article!
This one stuck me:
10. Realize that You’ll Be Fine No Matter What Happens
I realize this is absolutely true and life is a lot more lighter …
I have affirmed for a long long time “everything and everyone prospers me now” and it seems that this works very powerfully.
If I look back to past events which looked bad, they are ok now.
Thanks for sharing!
That was one of my favorites too!
Great article!
I’ve been feeling defeated lately because I think I have all this knowledge and I am biting at the bit to make things happen. Then, BAM, the car breaks down costing me my emergency fund, and hours at work are cut. It is good to know that I can follow this plan, and still have a life.
Man, thanks for this.
I had actually come to this same conclusion of establishing a good stable base before proceeding towards investing through logic. I felt as though I was maybe not being bold enough or taking the “risks” that were necessary until this article confirmed the logic of the conclusion.
This outline is going to help me structure and visualize this and how I can actually put long term goals into action.
Thanks for this. Really.
Awesome… thanks for the feedback.
I have to admit this article has come at a time when i really needed it. I was just considering researching information on this very subject. I really am grateful that you did this article.
Thank you for stopping me in my tracks, because i too had the mindset of leaving a job when not satisfied and beginning my ventures.
I will definitely share with others.
I’m glad you stopped by!