The Week Two Assignment for the Quick Start Challenge – 2018 is to answer the following questions:
- Why have I started an online business?
- What do I want?
- What is my dream life?
- What monthly income ‘goal’ will make it happen?
I mentioned in an earlier post, that my primary focus was with ‘brick-and-mortar’ local business. My aim was to help them get their message out online, and to use that means to market their business.
In that approach I did have success. Not the shiny Ferrari type of success so many proclaim, but I paid the bills and my wife and I were comfortable.
Then my wife got sick, and the income was no longer enough. After four years, without health insurance, my wife passed away and there were no longer any savings. It was all gone, and so was much of my initiative to try and rebuild. That was nearly 4 years ago.
I’m participating in the Quick Start Challenge – 2018 because I see it as a way of taking stock: Where I am and Where I’d like to go. And this week’s assignment comes at a good time. In a little more than a year, October 2019, I will marry again. My first “must do” is to clear lingering debt, so my future wife, Janice, will not have that hanging over us.
I also spent the weekend talking with her about how she’d like to live and what retirement would look like to her. We’d both like a house large enough so her daughter and granddaughter might visit on occasion. We’ve also many friends who live in other states, and we’d like to be able to invite them to visit as well. So a home with 3 bedrooms (counting the Master) and en-suite bathrooms would be very nice.
I’ve also enjoyed history all my life, and would very much enjoy visiting landmark cities such as Paris and Rome. And Janice has many relatives in Ireland. So traveling, as much as a month a time, once a year would be a grand retirement.
To put this into monetary terms, my business needs to generate $15,000/mo the first year to cover old bills, the wedding and honeymoon. The annual trip would be budgeted at $20,000, so given the house and travel, I would need to scale the business up to $25,000/mo for a period of 5 years. That would let us travel while working. After that time, I plan to sell my business and fully enjoy my life with Janice.
A pipe dream? Actually no. If something is important enough, one finds a way to succeed. I’ve spent a sad four years now, and realize I’m still vibrant, and capable to doing much more than I have. So, Quick Start Challenge, and Dean Holland and Craig Crawford – let’s get to work!