When it gets tough, remember why you started in the first place.
If you are living in the same world I am, most of the things that are really worth it turn out to be a fair amount more difficult than initially thought.
Trading FOREX for me has been one of those things. I got started because I thought about WHAT IT WOULD BE LIKE, to be able to earn money on my laptop, anywhere in the world I was connected to internet.
I thought to myself, ‘I would flip my screen open at a Starbucks in the northwest for an hour, gather up a few pips before heading out to the Mt.Hood Snowbowl for some fun ski runs.’ Or maybe I would grab up a couple hundred bucks while killing a few hours in the afternoon, visiting my dad in Colorado while we wait for friends to come over to dinner.
Nothing would be better than earning some money, while on a trip in some exotic location, sitting in my boardshorts, drinking cool water and waiting for the wind to die down at the surf spot.
This ladies and gentleman was the fuel. There is always fuel required to instigate action of any type. Something fueled you!
The games begin. We meet the markets with optimism and enthusiasm. Weeks go by, months go by. My performance didn’t match my expectation. No problem, just push the target date out a bit further of when the goal will be realized. More time passes. My skills improve some. I think I’ve got it. I bump up my lot size, after all, if I want to make any meaningful money I need to get into a bigger lot size.
I make some bad decisions, I get a slap on the wrist. Doubt sets in. The target no longer seems to be anywhere in the foreseeable future. I forget about what this opportunity can really provide. I start to focus on the fact that its ‘just another way to make money,’ ohhh bother.
SUDDENLY I snap out of it. NO, not this time. I have seen the power of the market. All of the evil doubts that take so many out of this game don’t have that affect on me. I start to concentrate. I remember all of what I have learned as a student, and stop focusing on all of the challenge that has also come with it.
I start to perform better. I trust myself with more & more money. I am now in a cabana in Nicaragua. I take one trade and it more than pays for the cost of my stay. My dream is realized.
If you haven’t made it past the point of no return, REMEMBER what it was about trading that you wanted badly enough to make you start. If you’re not yet there, you’re probably closer than you think!
I once heard a great speaker say ‘Everyone has a life…Style is how you live it.’
All too often, many people of the western world are pigeon-holed into a life to which they awake to one day, and find that they aren’t as happy as maybe they thought they would be.
This is a result of a model that looks something like this:
‘What are you going to BE’ ——> ‘seek appropriate education’ ——> ‘Earn said lifestyle’
This usually results optimistically in something like this…
‘Doctor’ —> ‘12years education/$300,000 debt’ —> ‘Practice medicine full-time/earn $200,000’
‘Teacher’ —> ‘6 years education/$120,000 debt’ —> ‘Teach/earn $50,000’
While I am in no way criticizing any profession, what I want to bring to your attention is the idea that only the elite few follow this line of thinking and end up in a satisfying life.
An alternative to this would be:
‘I want to have the income to have nice cars & houses, the flexibility to travel, unlimited income, time freedom’
—> ‘who has those things? Traders, entrepreneurs, real estate landlords, etc…’
—> ‘what is something that I CAN do to be in that position?’ —> ‘find someone who does that, learn from them and do that.’
While trading Foreign Currency is certainly not the only way to achieve this attractive idea of unlimited income AND time freedom, it is definitely A vehicle that can get you started down that road, and is ESPECIALLY attractive for people who may not have unlimited time or resources to start a business of their own, especially if they are already working full-time.
The Forex365Institute is a place where you can learn a new skillset, that can help you produce a new result in your life, and most excitingly is something that can be learned PART-TIME, in addition to what you are already doing.
visit www.Forex365Institute.com to learn more about our exclusive software, our specialized courses, and to speak with our Director of Enrollment.
Does your Remote business pass the litmus test? Could you actually leave the country for weeks or months at a time and still count on the business to grow on its own and produce income?
In this article I am going to share with you some of the most important questions that you should be asking yourself to avoid a career that is going to keep you chained to your desk.
When I am approached with a business or come up with an idea, I ask myself these following questions to help me decide if I should even consider pursing the business.
These days, if they do not get passed these questions with a yes, then I am probably going to go a different direction.
Now for the smell test questions:
This may take some introspection and some deep thinking about what the business is, who it would involve and what you would need to figure out to get all of the pieces together. This type of think and evaluation will become paramount when assessing situations for your business in the future, so play the tape out and visualize as best as you can where you would see yourself and the business in a year or two.
If you can do it on your own, great, do it! Unfortunately, most enterprises, even small ones, will need to depend on others to accomplish whatever it is your business will do or provide for people. The question you need to concern yourself with is can you effectively manage then from a far, or set the business up in a way where employees or partners can or would be self-serving and motivated to accomplish tasks day to day to keep the company running smoothly.
(0%-60% is no good / 60%-80% is ok / 80%-100% is ideal). Automation is going to be key for you to managing efficiently from a far. It will allow you to batch work, and delegate important work properly. Also it really allows you to step away from the business, or parts of the business, for days or weeks at a time, and then come back to spot check at a later date. Most importantly automation usually takes the place of what human used to do and will allow you to perform more high value activities for the business.
For more on this topic check out my blog I wrote on Time vs. Money! This will really put this step in to perspective for you.
Once you have completed all of these steps, then you will have a solid understanding about what you could potentially be getting involved in. I can’t stress the importance of the exercises!
Because, I have been working as a management consultant for a number of years, I have a keen ability to understand what is going to make a business succeed, or a failure. Unfortunately, most folks don’t even think about these things when starting a business. Instead they get excited about the idea, or one aspect of the new business, and run with it, throwing caution to the wind and ignoring, or simply not shifting through the idea and all the endeavors they would incur first.
Be smart, be savvy, and get the business that will give you the life you desire. But don’t ever be afraid to give your idea a litmus test! It will save you time, money and heartache in the future. These simple actions will keep you on the right track helping you to avoid a business or an idea that will stand in the way of a better suited business or opportunity that will give you everything you need.
In my last blog I wrote about the Joy’s and freedoms of working remotely. If you missed it, read it here! This will give you a little better context of what I am writing about in this 5-Step process to finding the perfect remote job to keep you traveling and experiencing the world all while making money from your lap top.
Here is my 5-Step Process.
1.Find a job, skill, or way that you can actually do that will produce income without you physically needing to be there. – This is going to be your most difficult task. You may be saying to yourself “well I am a doctor, how could I possibly practice medicine from a laptop?” Well this comes down to how resourceful you want to be. My dad is doctor, a Podiatrist to be exact and he has been looking into what is known as “tele-medicine” which is basically on call and on demand video conferencing from doctors to patients. Say you have a foot problem, you go on the site, set an appointment, my dad would accept it, you are instantly connected, he gives you advice and recommendations and your done. The system charges the patients credit card and they go on their way. Booya, there is a way a doctor can work 100% remotely. You may be surprised what you find if you really start thinking of all the different ways you could monetize your skill sets right from a computer from anywhere in the world, don’t worry, we will get to that in number 2.
I have come up with a couple of questions that I use to test the remote possibilities of a business. These days, if they do not get passed these questions with a yes, then I am probably going a different direction. I wrote two articles that may give you more context when it comes to working remotely, follow the links below to check them out:
Do you ever dream of being able to run a business from anywhere in the world? Have you ever found yourself looking online for different ways you could travel abroad and somehow make an income while you were halfway around the world?
Over the past decade I have been perfecting this skill. The truth is that it is not as easy as it sounds. This is especially true if you are used to a 9 to 5 standard day job. The dream of one day quitting that job and breaking free from the chains of the corporate world can be elusive and fleeting.
When I was 22 I left the country for the first time. I signed up for a study abroad trip to Spain, paid the money and prepared to leave home. To be perfectly honest, this trip wouldn’t be my first time out of America, I frequently went to Mexico in my teen years growing up in San Diego. None of my trips to Mexico had any real cultural importance. In fact, I don’t even really remember what transpired during most of those trips and never really made farther the Tijuana bars on Revolution Blvd. This trip was going to be different, I was with college kids, and there was some structure, so I figured that was a good place to start.
I remember getting off the plane in Madrid. I was bustled away from the group with my host mom who didn’t speak a lick of English and was given a room in her little apartment. I was super jet lagged and had never been on a flight that long in my life, so I passed out immediately. When I woke up it was dusk outside. I walked down the 4 flights of stairs and sat out on the sidewalk in the neighborhood. I was listening to all of the sounds of the city, and taking it all in. The smells, the cars, the food, everything was different, I didn’t know anyone around, and I was far from home. I was in LOVE.
This first encounter of Wanderlust was intoxicating to me. I vividly remember it and I was so grateful to be in that moment experiencing life again in a new way for the first time.
I thought to myself, what if I could do this all of the time, what if I could just travel a lot? It was sometime on that trip that I decided I was going to need to find a line of work that was going to allow me to do this. About a week before the program ended, I told my professors running the program that I wouldn’t be accompanying them back to America. I stayed in Western Europe an additional 4 months, traveling around Spain, Italy and France.
Once I ran out of money, I came home. At that time I was running a Mortgage office which surprisingly was still standing after my almost 5 months of me being gone. It didn’t matter though because I came home in September 2008 just in time to watch the housing market collapse completely. I was screwed. I had done really well for a kid who dropped out of college to get rich but it was all backfiring now and traveling was the last thing on my mind.
After the dust settled, I was about $190,000 in debt and in need of a new career. I had decided to go back to college a year earlier and had about a year and a half left for my undergrad degree so I figured I would spend the next 2 years finishing college and finding a career that would set me up to travel the globe and make money while I was doing so.
The first business that I found that worked really well for me was multi-level marketing. It seemed like a great fit. I was recruited into a company that sold me the dream, saying that if I spent a couple years working hard at building an organization, it would eventually take off and continue to pay me residually. This was PERFECT. I could build the business for a couple years to about $100K per year then disappear to Indonesia
For a first timer in MLM, I did incredibly well, and I build that $100k per year income in a short amount of time but it was short lived. The first company I was with asked me to leave, and the second company I joined eventually went belly up. Also every time I would leave the country on a trip, I found myself on my phone or laptop the whole time putting out fires, and that was just stupid.
When I finally walked away from the industry I decided to put my entrepreneur hat back on. I had raised some money for a tech start-up, and was actively learning how to trade currencies in the FOREX market.
I never lost sight of my desires and dreams of being able to make money from a Laptop. I just needed to be a little more resourceful. I found that as long as I can offer real value to a client, even being a great distance away, that my capability to earn money anywhere in the world would be there.
So over the past 5 years, I have been doing just that. Most of the consulting work that I do is never from an office. I do keep an office at the Currency trading school that I have a long-term contract with, but they have always been cool with me leaving and making my own schedule. Again, I attribute that leniency to the results I am able to deliver. The moral of the story is that there is a million ways to make money and add value to a person, place or business, however you need to be resourceful if you are going to do this from a laptop half a world away.
I have put together my top 5 tips to finding your own way to take your business on the road with you for good. Be sure to look for my next post, “Top 5 Tips to Working remotely.”