Monday, November 12, 2012

My 5 years plan-1 month review

My 5 years plan-1 month review
I started my 5 years plan during 14 Mar 2012. Today is 25 April 2012. I am looking back at what I wrote last month now.
I am committed to quiting my daily job, but not now yet. I have to plan in details how to work my way out of this trap. I have seen many people successful in doing this, normally but working their ass-off first when started in this kind of plan. I’ve came to know about a person who work his ass off for 5 years times, climb all the way to top position in a huge company, getting paid well, became indispensable to the company. Then when the timing materialise, he quit his daily job, and started his own accouting firm while still working as a freelance consultants.
So, how to reach his stage of life? I saw 2 major factos in this, or maybe I can say 2 important values for us to learn. His communication skill is good, he gets to know many people and get to gel in to almost every circle he is in. Second value is his knowledge about accouting. His analytical mind+hard working attitudes is what makes him indispensable, I think.
I am looking back at myself at this point of time. I quit my job because I hate my job? Is this the real reasons behind. No, I think. Emotional is temporary, I want to quit because I need a better life, especially with my family, and also for my son’s future.  My wife has had fear when I first talk to her about this. Yes, we are all afraid of changes. But if  we planned well and take action step by step, reviewing what is right or wrong, eventually I think we will get there.
Well, to get away in 5 years this way, I notice the first step is always getting a higher/better pay. In such a way, we get more reserves. When you have more left, started by first saving before spending. Descipline yourself to safe a fixed amount every month, significantly in this 5 years. Just 5 years only, we shall see the huge differences. You’ll end up with more money with you, which I think emotionally less fear. This step I think is important for you to make your next moves more boldly.
In Chinese, there is this famous quote from a Hong Kong drama: Life is without too many 10 years. How many 10 years can we have? Start thinking seriously what we want to achieve, and plan it, then take action. Even if we fail, I think we will be near there also, at least we did try.
Recalled on what I intend to achieve:–
1. Improve myself to become a great trader in Forex, or become a good Fund Manager. To achieve it, I need to learn more new skills, study CFA especially, and also read more articles and books about investment.
2. Build my own business. I am currently thinking about building a new company to revamp my dad’s shop and business. Grow it bigger into a nation wide company. This company of my dad is considered less competitive in my country. I think there’s space to improve and break the Oligopoly situation currently in my country here. I will go into more details in future.
3. Start my own Online income making empire. This has always been my goal since I studied it during my University times. I never thought it will become reality for me to earn money online. It has become more common nowadays. I started to learn about niche blogging way to earn money online. Will focus on this area this year to improve my earnings.
4. Write 1 book in this 5 years period. Be it a novel or a self-improvement or personal development book. I want to start writing something. Even Harry Potter’s writer started out writing in a coffee shop, never underestimate the power of writing, words and ideas. It might makes you millionaire if not billionaire someday.
5. Build another business I have in my mind currently. An automated machine business for my own country. I would like my country to improve in efficiency, spend less in overhead and stuff’s salary. Just sell things through Automated Vending Machine, this will be the trend in next 10 years, I want to be part of it, and grow bigger with it.
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Action already taken& planned action for next month:-
1. I have put CFA courses as 1 of my major studies for this year. If possible, I will get sponsored by my current company to pursue on this.
2. I have not taken much action in this area yet. But I have studied many places suitable to set up businesses, looking at competitors prices and position. I think this area is somewhere worth exploring further as I can eat up certain portion of this market.
3. My online money making is stably at USD20 now. My initial target this year will be making  USD 100 every 2 months. But considering this, I will need to set up new sites to make more money. Currently I run 5 sites, some active, some are not. To achieve in working this number, I will need to run another 10 more sites. Which I think currently challenging as I am very tight up in current work.
4. Write 1 book in this 5 years period. I do not intend to write any book this year looking at my current workload. I have no space for this anymore currently.
5. Building an automated machine business. Initialy I was thinking having a joint venture with someone who already has this business available by joining his franchise. Unfortunately, it seems not working out. I will continue explore this area as it seems promising if done successfully across the country.

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