Life Purpose Course and Financial Independence

[Raptorsin7]

I just began the life purpose course and I have a question about how flexible the course can be based on my specific desires. 

I want to achieve financial independence and I want to find a field that interests me and I can see myself wanting to master and work hard at. However, I'm not necessarily interested in finding something here that I will do until I die like Leo has with self improvement and actualized.org. I want to find a business where it's possible to make real money, but at the same time I don't want to sell my soul and do something I hate just for a paycheck.

My current thought process is to try and find a field where I can start earning income in a short manner, assuming I work hard and long hours, but at the same time I'm not looking for something I absolutely love or feel is my calling. I want to achieve financial independence first doing something I like, but not necessarily love, before moving onto something that I really love and would be willing to die for. 

Does anyone have experience using the course in this manner? Any insights would be appreciated.

Also, if anyone has any ideas outside of the course about how to go about learning about different fields of business so one can find something that interests them? I am new to entrepreneurship and business so I'm basically starting at ground 0 here.

[Average Investor]

It all depends on how you want to go about it and use the information really. You have to make your own path of what you want most in life. 

I think in business it is especially good to have some test runs at stuff. Most importantly to explore what kind of business you are into. Even if you found your purpose you are going to want to find the medium to share it on. So maybe I decide I want to provide the world with high quality food, so I have an operation like that. Or I want to provide new medicine, systems, various products, services, knowledge, etc. I am going to have all different ways I could get my purpose out to the world and ways of communicating it.

For me I have tried a variety of stuff. I do like sharing information with people and I do like helping them to a degree. I enjoy one on one connection with people. It is really easy for me to interact with other people and enjoy it. I do also like delivering products to people even without the direct connection. It helps me narrow down what I would want to do and what I would not want to do and how I would go about sharing it. 

Most businesses take about year to become profitable. I am in my first year full time with reselling and just barely turning a profit right now. However, I expect this coming year to be good.  You are going to want to get your feet wet a bit and look at some various businesses. You might consider looking into some business groups and see what people do there. Consider some things like your hobbies and stuff like that could help you get ideas. Also, if you really just want to make money there is a plethora of businesses you could hop into without reinventing the wheel. You can literally just find someone making money doing something and learn what they do, then go do it yourself. 

Something that will happen a lot too is a big spur of energy initially starting the business. You may get quite deep into it for several months or more and realize that this is not what you want to do. It might be best to stick things about a bit longer. But I found this when I had a car detailing business. I wasted a good bit of money on gear and stuff. But I will tell you my car looks spectacular when I give it a cleaning lol. I also learned that I would not want anything to do with that kind of service for someone. I invested a lot of time looking at the best guy and going off of what his business does. My area particularly does not have a lot of high end cars and that is what I wanted to build a service catering more towards. Something you would expect a premium service from. That and my state gets like 30-40 inches of rain a year, so that does not help. I surely could have powered through and continued doing it though even with those factors. But really it reminded me of having a boss with that type of business. Especially if the person is picky. 

 I have also had experience with fixing and selling cars. Kind of what lead me into the detailing stuff. Just a headache of an industry to be in for me. I hate fixing cars for the most part. I find some relaxation in maintenance and cleaned them sometimes though. But I could not even imagine pursuing that day to day. At the time it sounded good because there is some easy money in the cars. Flipping cars is a quick way to make cash if you are savy in them. But you can be savvy in anything. I am savvy in "junk" and make a living selling that now. 

From how you talked before it seemed like you had some disposable income. It could be worthwhile for you find ways to put that to your best use towards your financial freedom. To me there is a few elements of that freedom that would be important. Assets, business, investments, and savings. Assets and savings I would say are not quite as important for a few reasons. Your monthly cash flow coming from business and investments will be crucial. Most regard stuff like their car or house as an asset. Which yes by definition can be, but maintenance repairs, insurance etc will just eat at you. Interest rates especially will eat at you as well. Sometimes those will do the opposite of making you actually financially free. Money in savings actually losses value every year from inflation, but it is important to have savings for buying things at the right price and unexpected situations. Take the time to really explore these avenues. 

[Raptorsin7]

@Average Investor How did you decide that reselling was the right thing to do?

Thanks for the tips i appreciate it.

[Average Investor]

@Raptorsin7 I cannot say that reselling really is my life purpose, but I do enjoy it. I had already been involved in it in various ways since high school really. Some of the earliest entrepreneurial stuff I did was reselling. I remember reselling a broken ipod I bought for $3 for $10 in the same day at school and they knew it was broken of course. I was excited that I could even make money doing that. I began selling headphones and stuff all the time. I bought from school and sold at school. That and really just ever since I had a time I collected video games for a long time. I always tried to acquire things at the best deals I could and I gradually became very knowledgeable on video games. I can sort through a stack of games with ease and pick out the highest value games with good accuracy. Same with obscure and rare consoles I know quite a bit on. I am fairly educated on flipping 90s computers and videos games as well. I have sold a single computer game for $275 that I got for $1. 

I am good at reselling though because I am always learning new product categories and expanding my knowledge on the ones I do know. There is really a never ending amount of mastery of items and collectibles. I always have the mindset that I am leaving more money behind than I am getting with the items I have. So I am ready to continue to keep learning and researching more and more items. 

I will admit I kind of jumped quickly in it full time because I wanted to leave my last business. It was a really good decision for me. My life is so much more well rounded and healthy now with this. I have a lot more power throughout my day of what I want to do. I am thinking about dedicating one day a week to life purpose work and doing the other 4 days of work on my reselling business. Especially once I am able to hire soon. Then I take both days on the weekend off now, which might rotate once garage sale season comes back. I have got it to the point in the business where I should be able to get it more passive as I go. If I want to stop buying items at some point I could still have thousands of items for sale and just ship them on week days, but pursue whatever else I want to do. I could stop buying items right now and have well over a thousand items to list for sale. However, for me I love the hunt of chasing the items. 

I can't really say I consciously decided that I should do reselling initially. I had just already built the foundation, when the time came to move to something new. I was actually pretty resistant and upset to go full time when I did. I was becoming lazy with my old business that I did not want to have to put in the massive amount of emotional effort and labor I had to do to really get this thing going. I worked my ass off the entire summer to get it going without being able to really pay myself anything for a long time. I burned through all of my savings multiple times to get it fully going. 

What ultimately happened though was I found a really good sense of happiness and accomplishment as I do my work now. I am good at my work, it will pay me well, and I do love doing it. I will get up at 5 in the morning and travel a couple hours out of town to garage sale events and love it. But the only real thing I feel like this work is doing is missing a big impact on the world. I could teach others how to resell, but I am not sure if that is what I should dedicate my whole life to. 

Check out this video and do the work with it, then get back to me on some ideas you have. I don't want to portray myself as some expert in life purpose, when I am not sure yet I found mine. But I am heavily studying this part of self help at the moment and I have about 7-8 years of business experience at this point and I am 24. I also pretty much used college to dabble in fields of work as well.  

 

[Meetjoeblack]

On 16/01/2020 at 7:51 PM, Raptorsin7 said:

I just began the life purpose course and I have a question about how flexible the course can be based on my specific desires. 

I want to achieve financial independence and I want to find a field that interests me and I can see myself wanting to master and work hard at. However, I'm not necessarily interested in finding something here that I will do until I die like Leo has with self improvement and actualized.org. I want to find a business where it's possible to make real money, but at the same time I don't want to sell my soul and do something I hate just for a paycheck.

My current thought process is to try and find a field where I can start earning income in a short manner, assuming I work hard and long hours, but at the same time I'm not looking for something I absolutely love or feel is my calling. I want to achieve financial independence first doing something I like, but not necessarily love, before moving onto something that I really love and would be willing to die for. 

Does anyone have experience using the course in this manner? Any insights would be appreciated.

Also, if anyone has any ideas outside of the course about how to go about learning about different fields of business so one can find something that interests them? I am new to entrepreneurship and business so I'm basically starting at ground 0 here.

Welcome to my world. 

Entrepreneurship seems like a cool career choice but little to no room for error. I can't break or breach content but if you're going through it, you hear the the story. It is messy, bumpy and frustrating. 

I love the course. I have high hopes that it produces but I suspect it will be a while before I see results. My ego wants it now. 

I think we need to go through hell fire to make our dreams come true. When that happens, I will scream up the forum and i will repay @Leo Gura tenfold.

 

After a psychedelic mushroom trip, everything i saw was through child-like eyes AGAIN. it is a lens in which we should all explore this life. It is so easy to Grow jaded, bitter, and resentful. If not a psychedelic trip, explore however you may but child-like. We had so many dreams as a child but life happens, dreams are shattered, rigor of life comes, and dread can set in. 

Good luck friend. 

Ps: if you want financial independence aka fuck you money, you're looking at investment banking and gun to the head. By no means am I there but I have pals in similar or other fields. Its nonstop. 

I am learning about minimalism and how little I need to get by. Lower unnecessary expenses. Most increase earnings but out spend it. 

[Average Investor]

12 hours ago, Meetjoeblack said:

Entrepreneurship seems like a cool career choice but little to no room for error.

The ones with the most error and mistakes are usually the most successful. Being willing to accept loss and failure will really make a huge difference in your path of business. I realize that the idea of shooting right for success is always what everyone wants. No one wants to invest years of their life and a bunch of money to get seemingly no reward or lose money. But that is just the reality of it. You are likely going to evolve as a person and your business will do that too.

 

12 hours ago, Meetjoeblack said:

I am learning about minimalism and how little I need to get by. Lower unnecessary expenses.

  Work on renegotiating all of your reoccurring expenses too. You would be surprised what you could lower your bills to with shopping around. I pay under $15 a month for my phone with data etc. I pay $80 for car insurance and only because I had a ticket I fought and lost lol. Would be around $50 otherwise. I went with a business insurance for my car. But nearly all of my driving is business related. 

[Meetjoeblack]

On 24/01/2020 at 11:23 AM, kellyon said:

That's why I decided to start my own business. I read how much doest it cost to build an mvp at https://spdload.com/blog/cost-of-mvp/ and decided to give it a try. It turned out to be the right decision. Investing in my own business is ore profitable.

More are doing it these days. Its like, why be a corporate shill and slab to get other people rich. Good on you. 

[Meetjoeblack]

On 19/01/2020 at 4:12 PM, Average Investor said:

The ones with the most error and mistakes are usually the most successful. Being willing to accept loss and failure will really make a huge difference in your path of business. I realize that the idea of shooting right for success is always what everyone wants. No one wants to invest years of their life and a bunch of money to get seemingly no reward or lose money. But that is just the reality of it. You are likely going to evolve as a person and your business will do that too.

 

  Work on renegotiating all of your reoccurring expenses too. You would be surprised what you could lower your bills to with shopping around. I pay under $15 a month for my phone with data etc. I pay $80 for car insurance and only because I had a ticket I fought and lost lol. Would be around $50 otherwise. I went with a business insurance for my car. But nearly all of my driving is business related. 

There's elements of truth but 9/10 businesses fail. Food for thought. Nobody cares. Its all about execution. 

Dude, I have gone full blown minimalist. I still have a bed, tv, etc. I am just keeping my expenses low. Its unreal how little I require. 

If I was married with kids and a wife, it wouldn't be possible. At least not to be this low in expenses. 

[randomguy123]

On 1/17/2020 at 0:21 AM, Raptorsin7 said:

My current thought process is to try and find a field where I can start earning income in a short manner, assuming I work hard and long hours, but at the same time I'm not looking for something I absolutely love or feel is my calling. I want to achieve financial independence first doing something I like, but not necessarily love, before moving onto something that I really love and would be willing to die for.

I don't know if that is the best idea. I guess a lot of people start out trying to become financially independent and then live their life. I mean, don't get me wrong, get a job while you're figuring out what it is you want to pursue, but straight up financial independence (not sure how you define that) seems a stretch. Most people only become financial independent after they mastered their craft and any quick ways to getting rich are probably facing heavy competition. Nobody is getting seriously paid, unless they're pretty good at what they do.

I mean, aren't most people trying to do some version of this? Instead, what tends to pay off imo is committing seriously to your craft, which is rare. Most successful people have spent years trying to master something, before it payed off and wouldn't it be a shame to throw a few years away right now? Maybe I'm too idealistic, but this transition is always messy. You can however always start in the smallest of ways. It's not that the course will tell you to start a business tomorrow or whatever, you can always take your time and work things out.

Edited January 27, 2020 by randomguy123
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