Although my job is going pretty good, I've set my sights on an early retirement. By early, I mean that I want to be able to quit my job in 1 year and work full-time for HalOtis making more than I make now. To make that happen I'm developing a detailed plan outlining what I have to accomplish over the next year, I'm setting deadlines to make it happen sooner rather than later.
I know it can work.
Over the past few months I've been following the progress of John Chow. (www.johnchow.com) as he built up his blog to the point where 15mins/day of writing is giving him $2700 in revenue every month.
So to start with, I'm going to give the blog thing another go. If I can attract a loyal readership, then I can monetize that to add an extra stream of income. Over the next year I'm going to try to grow that as much as possible.
At the same time, I've been thinking a lot about real estate lately and the possibility of buying something to either flip or as a rental investment. Unfortunately the only thing I can really afford to buy here in Vancouver is in a trailer park. That might be where I start. To investigate this further there's a seminar this weekend on buying real estate that I'm planning on attending.
In addition, I'm going to decide in which direction I should take HalOtis, then I'm going to find some customers and sell what ever it is HalOtis does. This is the biggest risk to my plan, this time however I am more prepared than ever to grow a company.
As soon as HalOtis is ready to bring in legitimate income, I'll incorporate it, and form another limited liability corp. to hold real estate assets.
To get this moving, and keep it going, I'm going to need 1 vital thing. A team. I need to find people to do things that I can't do. I need to hire a bookkeeper to make sure I keep my numbers organized, teach me how to code my purchases, and provide an extra bit of assurance to the bank when I go ask for a loan. I need someone with their fingers in the real estate market to learn from, and help me find deals. And I need someone to provide some business advice, and connections. This is going to be hard for me, but once I have these people the rest will fall into place.