Why isn't everyone doing this?

I think that it takes all sorts of things to motivate people. Some are just happy in their comfort zone. Others are completely risk adverse. Some want to do 'things', but then suffer analysis paralysis and can't seem to pull the trigger. Others will just jump in, because it sounds like a great idea with little to no research at all. And others will do some research, look at the pro's and con's and do 'it', whatever the 'it' is in their circumstances.

 

It really depends where you’re coming from. I’m not going to spend my time after work selling smoke alarms, because my time is worth more than that.

people can be just as driven but in different ways

some people balance, kids, family, looking after elderly parents, studying. That’s the same drive just with a different focus.

 

Out of any given population you'll usually find one "Christopher Columbus" - the person happy to venture where no one else will go.

The thing is, you can't have a successful Columbus if you don't have the support team back home....the people to make the boats, the sails, grow the food, fund the mission...and the families that support them...and then indirectly the services that support them.

I think socially...most of us just aren't meant to take the risk. Which conversely makes it easier for those who do.

 

All for people who have guts, determination and willingness to do the hard work.

With all the hard work, there is also luck and fortune in business. Some people (myself included) just don't want to take the big risk. Happy to take the ETF steady investment route and accept I will never be a billionaire.

At the same time, everyone has different responsibilities, parents, family and kids. I'm not in a position to risk the capital that is available to support them. Have really hard working and smart friends who have more established parents and can afford to take a bit of risk and go out to make their fortune.

 

From my circles of friends these are just used as an excuse. I also have most of these on my shoulders. I am the eldest and when you come from the ethnicity that I do well the eldest bears the most responsibility to look after basically EVERYONE. I even just gave my younger brother $75k for his first home deposit. My parents are not in a position to do it and they are very old now as well (who I also look after as in pay ALL their bills, their car rego's and insurances, water, electricity everything.

I do all these personal/family responsibilities on top of what I do in terms of work, business and investments. No excuses just motivation and drive allows me to do it.

I have a close friend who was saying studying and looking after his elderly parents was limiting his investment journey 15+ years ago. He graduated with me and his elderly parents have since passed and still no investment, no business, no nothing. I know several ppl like that actually.

I'm a firm believer that if anyone wants something enough they can make it happen with 3 main things.

1) Drive/Determination.
2) No fear or being timid.
3) Some smarts/mindset. They at least need to know how to communicate with agents and tradies, lawyers etc...and co-ordinate tasks etc..........some ppl cant even talk on the phone properly to organise a tradie to do some work.

 

Remember its all work. Whether you're a professional trapped in an office pen, a tradie sweating in the hot sun, a business owner stressing over some half baked scheme, or a property investor millions in debt telling yourself that an LVR of 80% is conservative.

But there can be big winners in each of these areas. Hugely rewarding and successful. That's where the attitude, hard work, education, grit, focus etc etc sustained over long periods of time come in

 

Post of the thread.

I’ve been there and done that.

Don’t be sucked in by the “wake up when you want, see your kids all day, go to the gym when you want be your own boss”. It really isn’t like that.

I’ve never worked so hard, such long hours and stressed so much over getting paid.

A solid job with a good salary can open A LOT of doors and if you’re good at what you do, you can make yourself indispensable and negotiate some excellent benefits and flexibility.

 

I think some people just don’t WANT to. I don’t have a business and don’t want one. Really CBF. I’m happy doing what I’m doing and having low stress levels. And lots of time for my family.

 

One bird in hand is better than 2 in the bush mentality? People sometimes are held back by current secured position eg., a stable job with good salary? Same goes with property investment. I know someone shared with me investing in a property is a lifelong endeavour with extremely high leverage.

 

For YOU. To some people it's absolutely terrifying. Some people are too scared to go out of their house alone. Their reasons make sense to them even if we can't understand it.
It took me half my life (assuming I live to 100) to finally dive in. Once I made the decision though it was full steam ahead. It was truly a lightbulb moment.

Why? Conditioning? Low expectations? Confidence (definitely), I grew up poor. I wanted to own a home but didn't think I could buy investments. Information has always been there but there weren't the books, podcasts, companies etc that are around now. It's just so in your face now that it's within a lot of peoples grasp, it's hard to avoid.

 

Haha, me too. I always thought that only the rich invest. It was a real lightbulb moment when I found out that ordinary people can do it too.

 

I’d never knowingly met somebody who’s been to private school until I came to Sydney.

Then I discovered it’s virtually frowned upon to suggest you’d want your kids to go to a mixed public High School.

 

Most of the rich people I know were taught from young, either directly or by their kids overhearing daily conversations that basically if you don't invest for your financial future, you ain't gonna have a great one. Many non rich background folks eventually realise this fact if they're lucky at some point in later life and start to invest. Most folks however realise when it's too late. And if you're socialist leaning anti wealth most of your life that's all good and dandy. Until you hit retirement age. Then good luck.

 

Hopefully our story below inspires someone to change their own situation:

Ive always been unemployable really.

Started working for myself as a bricklayer when i was 20, till suddenly at 44 got divorced lost everything etc

At this time there was also no work for the first time ever, i could normally work 7 days a week if i needed money fast, so just like that i had lost the lot with no real prospect of making money if i needed it, which i did, 3 young kids meant i needed to make money

So i went on wages for the first time in my life for some young kid who did have work (very humbling experience) and made bugger all really, couldn't even pay the bills

6 months later i meet my future wife online who was also divorced and just getting by with a very low paying retail job, who must have been so overwhelmed with looking after my kids & her kids & my shocking financial situation, that i'm just so happy for her and her loyalty on how the story ends..

NEW BUSINESS:
So after 2 years of just scraping by, after plugging all the holes in our lives, and with 2k in savings, i see an online course in Oct 2103 on how to sell private label products on Amazon. i think "we can do this" ...was way harder than it looked lol

It was 4k US, but we paid 1k monthly over 4 months because we couldnt afford it all in 1 go,

So after 6 months our first product was making 1k a week, and my future wife's retail store closes down, so she starts working full time on our little biz...i continued bricklaying but was in constant pain with 2 knees that have now been replaced...old sports injuries

Although we were making great money & it was addictive adding more products & making more money, It was also crazy selling on Amazon back then, they would suspend you in 2 sec for doing anything wrong and these frivolous suspensions nearly bankrupted us twice, because we were always aggressive and launching new products etc and had ALL our money tied up on Amazon....it was not for the faint hearted i can assure you....but we were just going for it, it was our 1 chance to set up our family.

Anyway, Fast forward 8.5 years and we have weathered everything that the Amazon world has thrown at us, we left no stone unturned to be top 1% sellers in the world & have had 2 multimillion dollar USD exits (selling the brands we built) with the biggest brand exit yet to come

Fortunately all the kids have watched us turn our sinking ship around, and are all very proud

We just had to go for it, both 44 with nothing, we had no choice, sometimes it pays to put it all on the line, it was in our case anyway

Its been a real team effort, and we often shake our heads about the situation we now find ourselves in financially only 10.5 short years since we met