My Entrepreneurial Journey – July 2019

My entrepreneurial journey continues in this July 2019 update. I am continuing towards my goal of becoming an entrepreneurial success story. Below you will see my goals for 2019 and how I am tracking towards them. The last 6 months have come with a lot of positive changes that have given me more control of my time, have opened up new opportunities and provided a much-needed perspective. 

My Entrepreneurial Success Story – July 2019 Progress

Having big goals is the easy part. Working towards achieving those goals is the challenging part. It is very easy to talk a big game which my friends and family know I do quite well. The more difficult part is actually backing it up. 

The biggest hurdle for me is that there isn’t one clear way to get to where you want to go. There isn’t any easy path that if you just do x you will receive y output. Additionally, there are many entrepreneurs who fail after putting in tons of work. There are others who seemingly stumble or make success look easy. 

What I am learning is that it just isn’t as easy as it sounds and everyone’s journey is unique. In terms of my own journey, it is time for my July update. We’re halfway through 2019 so to start here is a quick recap of my goals for 2019. Then I’ll jump into where I am and what I’m changing/tweaking to improve as well as one key learning. 

2019 Goals

I laid out a few key goals that I am focusing on for 2019 which are listed below. 

• Acquire 4 more rental units located in Alabama or Florida
• Read 36 books this year
• Limit my alcohol consumption to an average of 1 day of drinking per week
• Generate through a side business $128k/month before year-end

As you can see I have four main goals. One which had to do with real estate focusing on purchasing four more rentals before the end of the year. 

The second two had more to do with kind of health and personal development. Since I’m an avid reader I read a lot of books. This year I upped the ante making my goal to read 36 books. The next goal has to do with alcohol consumption. My focus is to average just one day of drinking per week for the entire year. The reason being is I noticed that I was having a glass of wine at dinner or a beer after work which started to add up. Especially working in a start-up where there was free booze all the time and every activity was alcohol focused. It resulted in social pressure to get a drink almost every day. The focus is on limiting consumption and social pressure. 

Then the fourth was having a business that’s generating 128k per month in revenue. I see this as the most challenging. Though it aligns with a larger goal that I’d set out a long time ago which is to reach a million dollars in income every year, not just net worth by 28. The secondary goal is to be earning 10 million by the age of 30. This goal originally stemmed from wanting to have a million in income by the age of thirty. But after reading about people that had gotten there who said their biggest regret was that they wish they would have shot for more. So that’s my logic behind that goal is to work my way towards that number. 

July 2019 Goals Progress

As for the updates, when it comes to rentals I have not purchased any rentals this year. I do have a piece of land that I bought 2017 that I’m looking to develop as a rental. I think the timing is right, numbers are there, and the market makes sense. Assuming I get the financing that will be underway. I should have that squared away in the next couple of months, granted that won’t be completed until 2020 but progress. Also working with family on real estate now too 

When it comes to reading I am about four books behind where I should be right now for the end of June so I picked some big books recently and had you know nine hundred pagers some of those things and just need to kind of pick up the pace. Booze consumption I was doing really

well I was right at 1 day per week average until I went on an overseas trip with the family. I knew that I wasn’t going to be super strict. In that regard, I’m a few days ahead of drinking days this year. I’ve got twenty left for the year and am a few ahead for the year. A couple of weeks without any booze will get me caught up and on pace.

Lastly, the business generating $128k a month. This is where I’ve been focusing time on a few different endeavors. I’m not there yet. I’ve got a rental that gives me some income right now so at about $2400 maybe $2300 a month roughly. I’m not calculating any portfolio or interest income at this point. I still have a lot to do on that front. That’s the overall update for my goals. 

The Change on My Entrepreneurial Journey – July 2019

The big change that I took away after going on a two and a half weeks vacation with family is who I do business. We spend most of our time at work with work people. What I realized is that I want to do projects and business with people that I enjoy doing business. There is a saying that you are the average of the 5 people you spend the most time with so choose wisely. 

A lot of time those people are the folks around them at work. My epiphany is that I want to spend my time working with people that I love and care about. Ultimately combining those things where I can. Because you can’t always work with the people that you love and care about but the places that I can I want to optimize. So that’s where real estate really comes into focus along with a couple of other side projects that I’m working on with friends and family. In reality that’s the biggest thing is truly spending time with the people that you want to. 

I cannot think what better way to do that then through working with them and working towards a common goal of creating value. Today that’s what I’m really excited about and what I am focusing on is not just accomplishing goals to check things off a list but to do so in a way that is rewarding and fulfilling. Because the focus is on accomplishing the goal and minutiae. Yet there are people that hit goals and aren’t happy. Ultimately they have may sacrifice morals or time with people that they love and give up a lot. 

And I don’t know that it is necessarily the case that you have to sacrifice everything to achieve big goals based on what I’ve seen other people do. Perhaps a little bit of the optimist in me wants to think that there’s a way to do it all and have it all. 

Wrapping up the July 2019 Entrepreneurial Journey Update

That wraps up my July 2019 entrepreneurial journey update. The focus for the rest of the year is its continue to work towards those goals. And also finding a way to do achieve them with people that I love and care about. Truthfully even if I fall just a little short and don’t quite achieve them, I’ll really enjoy the process. To me, the shift is focusing on that process more so than the end goal. So not losing sight of that end goal and working hard to get there, but doing it in style.