<aside> 💡 Activities (daily)
<aside> 💡 Projects
16-Aug-2023 at 6:00 AM.m4a
So, today I want to talk about an idea that I've been toying with. I'm thinking of developing a personal entrepreneurship system. This system would help me maintain my energy, focus, and expectations, so I can make the most of this journey.
First things first, I had to give up a job that paid $12,000 a month to pursue this. It was a comfortable package where I live. The reason behind this decision is simple - I believe I have the talent, experience, contacts, and the advantage of living in a low-cost location. With minimal effort, I should be able to create productivity and value comparable to someone abroad. This means I can get paid in global markets while spending in local markets. The economic potential is fascinating.
But, let's get real for a moment. There are some challenges I have to address. I experience continuous self-doubt, occasional bouts of depression, and a constant pressure to overcome these obstacles.
Now, let's talk about the economics. If I create a product that generates $500 in revenue per month, it means I've actually created a value of around $10,000, which is 20 times that amount. The question then becomes how to generate this revenue. Options could include offering coaching sessions or other revenue-generating activities that require minimal effort but have the potential to generate consistent income over time.
Another approach is to create a more sustainable model. For example, if I develop a product that generates $500 in recurring revenue each month, it would add up to $6,000 per year. This is close to what I was making before when you take into account the flexibility and family time that are important to me. Distribution is key here, and options such as SaaS products, subscriptions, and teaching sessions can be valuable.
To ensure I can successfully pursue my ideas, I need to develop a system. I'll focus my efforts on four main projects. First, there's "Steroids," a package application that provides everything a business needs – think of it as a "business-in-a-box" solution. Then there's "Cheetah," an AI-powered real estate CRM designed to help real estate agents improve their business. The third project is "No Code Applications," an educational platform focused on local development. And finally, I'll dedicate about 20% of my time to fun activities that either solve problems for myself or pursue exciting ideas that catch my interest.
To achieve this, I'll commit to four things every day for each project: exercise, building and pushing at least one feature, selling and marketing, and networking. By following this process, I believe I can build a sustainable business and gain traction.
It's important for me not to compare myself to other builders out there. Instead, I'll focus on my strengths. For example, I recently realized that I'm not great at design, but that's okay. It motivated me to learn more about design and devote my efforts and results to that area. However, I need to balance this with the awareness that every time I learn something new, I take focus away from another area. So, it's crucial to play to my strengths, especially when it comes to using my skills in data analytics. This combination can be extremely powerful and allow me to create sustainable, repeatable, scalable, and significant value.
And that's it! I hope this helps you better understand your idea and how to move forward. If you have any questions or need more advice, feel free to ask. Good luck on your journey!