My Financial Journey

So That’s What Its Called

For a while now (the last 10 years or so) I’ve had the itch to learn how to earn money differently. I had grown tired of working in limited potential businesses and I knew I wanted something different. But, I had no idea how to get out of working hours for dollars. In fact, the first time I heard that phrase, “Dollars for Hours” it resonated so much with me that I couldn’t get it out of my head. That is what I wanted to move away from. I finally had something to call it.

Never Take Risk

Growing up, the cardinal rule was “Never Take Risk”! Especially with money. You work hard, be loyal, get a good education, don’t rock the boat, and play it safe. I might not make as much money as some, but at least the money I did make would be safe.

I learned this lesson well and lived by it for years.

A Huge Leap

I finally got up the guts to try something new. I saw one of the TV infomercials on real estate investing and had heard that that was a good way to make money passively. Once you get a few houses you start building an positive cash flow and then you’re on your way to retirement.

I purchased the course and tried it out. I got more literature and books to understand the complexities of the finances and after all that study I looked at exactly 2 houses. I never made an offer. I never truly risked anything.

But, I did continue in my real estate journey.

Because I had all this knowledge about real estate now, I decided I was going to become a real estate agent. So I did. License in hand, I started working hard as a real estate agent. Real hard. Harder than I ever worked.

I was a terrible real estate agent.

I couldn’t get past the fact that I was watching all these people who were in terrible financial situations trying to get into more terrible financial situations by buying a house that they could not afford. I talked many of my clients out of buying a house. Needless to say, that doesn’t pay my bills real well.

Letting My Money Work For Me

Even though real estate didn’t work for me I still believed in passive income. I knew other people were doing it. So I started learning about the stock market. I had heard the phrase, “Let your money work for you, not you work for your money” and really like the idea of making that happen.

I started reading everything that The Motley Fool put out because I liked their approach. I still like their approach. The only problem I ran up against is, “It takes money to make money” and I didn’t have a whole lot of extra money to invest (did I mention I have 4 kids and a wife?).

Inaction Gets You Nowhere

So, with no money to invest, lots of “learning” and “understanding” about real estate and the stock market I proceeded to do absolutely nothing. I still pursued dollars for hours types of jobs because that is all I ever knew.

Attitude Is Everything

I like business podcasts. I listened to Harvard Business Podcast and the likes just gleaning information. About 18 months ago I came across a podcast called Internet Business Mastery. I remember listening to the first 8 episodes of the podcast so it was real new at the time. I liked some of the stuff they were saying but there was this nagging script that kept playing over and over in my head that said, “You’ve tried passive income before and you failed. What makes you think you can do this again?”

Between the two voices, the podcast saying passive income is good and the script playing in my head, the script won, I promptly stopped listening to IBM and continued working dollars for hours.

And Then Ferriss Came Along

I’m a little unclear as to what came next, but I do remember reading Tim Ferriss’ Four Hour Work Week. I admit that I found it online in .pdf format (which I’m pretty sure is not copyright kosher) but I downloaded and read it. A lot. I ate it up. I love it. I loved it so much that I bought the book so I could make notes (and feel less guilty). And that is what got me believing that I might actually be able to do this stuff.

Some Guy With A Funny Name

From there, one of my clients told me about a guy named Yaro Starak and The Entrepreneur’s Journey Blog. I enjoyed learning about his approach to blogging and passive income. I remember his comment about going on vacation, spending a lot of money, and coming back with more money in the bank. That seemed like a pretty wise business plan to me. How do I do that?

Pat Flynn And A Fresh Approach

I stumbled upon Pat’s Blog, Smart Passive Income by accident. But I am sure glad that I did. What strikes me most about Pat, and I’m sure he’s heard this before, is his uncanny ability to evoke trust. His style is painfully down to earth that you can’t help but like what he has to say. (As a side note, Mike Rowe from Dirty Jobs is the same way.) In fact, No More Dollars For Hours is my attempt to see if I can be as transparent and honest as Pat is.

As I read pretty much everything Pat had written, including his How To Write An E-book even before it was an E-book he kept talking about this thing called the Internet Business Mastery Academy. I looked it up and realized that it was the same podcast that I had been listening to almost a year earlier. But this time, I was ready to listen.

Internet Business Mastery Academy

The thing I like about IBM is their emphasis on knowing why you want to do what you want to do—or as they put it your Definite Major Purpose. They are more than just making money. They want you to structure you life so you can achieve the lifestyle you want. I liked that a lot.

So, with the recommendation of Pat and my willingness to learn, I jumped in and joined the academy. All of their information is rock solid. The steps they teach are not only practical but also relevant. They tell it like it is without any hype or “get rich quick” rhetoric. Overall, it is a business degree that isn’t being taught at any MBA I know of.

And Now Today…

And here it is today. I’ve been listening to every episode of IBM for the last month. I have been reading blogs and other passive income stuff as I wrestle with what niche I would like to look into. And then it hit me.

What the heck am I waiting for?

I have a current passion—my journey of learning about Internet business and passive income. It is what I have been thinking about and reading about and learning about and dreaming about for days on end. It is time to give all that energy an outlet and kill two birds with one stone.

Bird number one is the desire to put myself out there more, try to start building a community, and let people see me as I learn something new.

Bird number two is the skill set I learn as I setup this blog, play with building traffic, and all the other aspects of Internet Business.

We’ll see how it goes.

P.S. I would enjoy any thoughts you comments you have. If you want to tell part of your story, I’d love to hear it.