I have been fortunate enough thus far in life in that I have been able to start, establish and sell several successful businesses. Currently I manage a portfolio of online and offline businesses that allow me to live the mobile lifestyle. However, before any of this was materialized, I too like most people in this world had a job that I went to every morning Monday through Friday.
I liked my job. It paid very well, took me places around the world and put me in touch with some very wealthy and powerful decision makers (people running Fortune 100 companies making several million bucks year in year out). I was on the fast track climbing the ladder just like everyone else around me.
I wasn’t unhappy at all in what I was doing, but I knew I could achieve something better, which is to make enough to live the lifestyle I want yet have the freedom and flexibility to design my life around people, things and priorities that were / are important to me.
The more I researched and studied the more I realized that the way to achieve what I wanted was through passive income, or income generated by businesses and assets that can be managed remotely with relative ease and little risk. Fast forward a few years and I now find myself living the dream, my own dream which I had dreamt while working a full time job.
I’d like to share a handful of tips that helped me, which may help you, prepare for an unconventional lifestyle while still living the 9 to 5 lifestyle.
Invest in Your Education / Yourself
I cannot emphasize investment in yourself through investing in your education enough. When I was young I read somewhere that the quest to excellence is a lifelong process. It wasn’t until after college when I realized what the quote truly meant. Unfortunately for many, learning ends when college ends. The real journey is really supposed to just start at that point.
Invest in yourself as much as possible. If climbing the ladder is your dream, invest in the necessary education that will enable you to do so. If starting a business is your dream, invest in the tools that will enable you to do just that down the road.’
Fill in your dead time with education opportunities. Listen to books and podcasts while driving. Carry a book or a magazine to plug in time gaps. Watch educational videos while flying. Take a weekend to stay in and research online.
Network Outside Your Profession
Networking is one of the most underrated initiatives in life. Network outside your organization and get connected with like minded individuals. You can assemble your dream team way before you will ever need them. There is no rule precluding you from doing so.
Attend local MeetUp events and association meetings. Leverage LinkedIn and other social networks to find and connect with individuals of interest. It’s nice to have a resource pool the minute you decide to embark on your entrepreneurial journey.
Prepare Yourself Mentally
Discipline yourself to live a financially responsible lifestyle. Live nimble and save. This will help you in the event your entrepreneurial endeavor requires you to (or if you want to) dedicate all your time to it. Even if you don’t do that, a nice reserve will help you live a less financially stressful life if you decide to stay within the “template” lifestyle.
Finally, understand that not everyone succeeds in everything they do, and that success doesn’t necessarily mean becoming the next Bill Gates. Define what you want, when you want it by and get ensure you have full clarity. At the same time, realize that even if you can’t achieve an Untemplate-d lifestyle, the Template-d lifestyle works just fine for the majority of working individuals.
Concluding Thoughts
Many successful individuals will tell you that luck is simply when opportunity meets preparation. The tips above, while not the most comprehensive set, help prepare an individual for a time when opportunity comes by. Don’t wait to start preparing after an opportunity has already come by, hit you in your face and then blow right by.
When I reflect back, I don’t think the journey was that complicated at all and I feel that anyone determined enough can replicate it. It was simple, but not easy because I had to work hard and put in the time necessary to make things happen. There is no shortcut around the actual process of learning, executing, failing, learning again and retrying.
All the best,
Sunil
I am template-d right now, but hope to change that soon. Working on it… I like the idea of having a business that mirrors my life; you know “they are one”… Right now work is just work, it pays the bills and allows me to take adventures, but my current gig is certainly not my passion, that’s for sure. Looking forward to reading more at this site.
That’s great to hear. Sounds like you have an exciting path ahead Neo!
Education is key to gaining the tools you need to be successful. I’m also a huge fan of networking. If starting a company interests you, you should consider getting your MBA: it combines networking and education together.
Great point on the dual purpose of an MBA, especially if you attend a top 10 (think the Harvard network had something to do with how Obama got to where he is today?)
I completely agree with the notion of filling up dead time with educational and productive activity. I spend my driving and flying time listening to podcasts, reading or writing. The podcasts range in topics from history to cooking, gardening, and finance. About the same topics I tend to write on.
likewise. do you ever feel distracted while driving however? unlike music, which is easy passive listening, a podcast is relatively difficult active listening, at least if you want to benefit from what is being podcasted. many have argued it is no different, if not worst than chatting on your cell while driving.
irrelevant to the post – but curious about your thoughts?
Well, no different than listening to talk radio, really. The problem these days is that I only pay half-attention to podcasts while driving, as invariable some subject or thought in the podcast sends me off thinking on blog topic tangents.
All entrepreneurs are alike indeed. What you just described is ME 🙂
I STRONGLY agree with the education part of your post. I didnt when I was getting my education, but now I do. Education and knowledge really sets us free.
I hope everybody can go to an affordable college and take some extra classes they are really passionate about.
we live in a country where we can pursue higher education no matter what our background. higher education can solve most of the world’d problems – i really believe that.
All anyone needs is a goal and a plan! I achieved financial independence at 38 years old.
38 is very aggressive i think and congratulations for being able to achieve that. did you move to full time education and real estate after achieving financial freedom? i know you had a few CFO gigs prior to that.
I will be graduating from college in a few weeks and keep thinking of the quote accredited to Mark Twain, “Never let school get in the way of your education.” I can’t wait to have the time to read more of the books that I am actually interested in. 😀
As I’m working on a side-business I am also learning more and networking within my current job. Just got promoted from part-time to full-time with more responsibilities because I’ve actively been learning while here, and I have a few ideas of how to help my company move forward from. Of course, this will all happen as I build my side-business. And if it doesn’t work out, I’ve got a few more ideas lined up.
already sense the persistent drive …
ha – right indeed. but that said, there is nothing wrong with a templated lifestyle. there is a lot of good to be said for a successful and lucrative career in corporate America 🙂
Congrats for your success! My life is still mostly Templated – at least 40 hours a week. Like you did before you left the 9-5, I enjoy my Day Job. Unlike you, I don’t have plans to leave yet…
I guess I have to make doubly sure the other 128 hours are Untemplated, right? Thanks for the article!
You have such an inspiring story Sunil! I love that you’ve had so much success selling sites online. And the fact that English is your 4th language, wow that rocks! You cover solid building blocks – education, networking, and mental prep. Hard work and hustling to build a business really does pay off!
totally Sydney – do the hard work now to reap the rewards later. worthwhile endeavors take time to build