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Old 06-27-2016, 09:18 PM   #1
esspoker
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Broke to Million in 5 Years

To go along with my last post I am going to become a millionaire in 5 years, defining millionaire as one million liquid cash in the bank. Due to some poor planning and mistakes, I'm broke and in debt right now.

I'd like to make this thread similar to what happens in the poker bankroll thread, and update it weekly or so, add insights that I pick up along the way. Included in this might be random musings about people, jobs, management, sales, motivational audiobooks, etc.

My Backstory

I've worked in sales for about 4 years but took off on flights of fancy in my twenties where I started a business, tried to become a stand up comic, and tried to play poker professionally. None of those worked at making me rich and famous, but I learned a lot. Now it's time to get back to sales as I've realized I don't want to be famous, poker is a sad lifestyle (for me), and I don't have a great business idea at the moment (and I'm not a great entrepreneur at least as a solo venture.

Enough about the past...

The Why

Nietzsche said if you have a big enough why you can achieve any how. Why do I want a million dollars? I don't really know, other than that seems like a goal that will motivate me to get up in the morning and take big risks. Life can be pretty boring after a while. Nothing much new ever happens. In my twenties I chased girls. Now that I've had all that, and that mirage has been exposed for what it is, I'm going to chase money. I'm sure that when I get it, I'll again see that it was a mirage, but at least then I will have some more freedom in my life.

I guess it's obvious why most people want lots of money. So I shouldn't have to explain it too much. It sucks being broke. It sucks not being able to go out when you are invited. It sucks not being able to take your girl out. Plus I am just really competitive and want to be at the top of my field.


The How

How will I go from negative to a million? I think it will be a two-pronged attack, with prong 2 having several options:

1. Move home and save up/pay down as much as possible.

2A. Get a lucrative sales job and commit to 6+ days per week. Practice constant self-improvement and rehearse and learn as much as possible. Surround self with other successful people. Post here and force myself to reexamine things daily.

OR

2B. Get a job with a company that sees the value in me and get promoted through the ranks. Become a sales manager and expand the operations to the point where I am getting a good percentage of commissions from my salespeople.

OR

2C. Somehow through serendipity come across an entrepreneur who will work with me and we create a successful business together.


Strengths
Strategy. I believe I can strategize well in business and could be really good in the boardroom.

Attitude: I don’t give a **** what people think, and I believe deep down I will be a millionaire.

Management: I like to see people succeed, have empathy, and I like to build people up.



Weaknesses


I have always been too hard on myself and became my own worst enemy. I need to overcome this and learn to let myself off the hook and accept failure as the natural path to success.


I’m probably not a natural salesman, although I have had success in sales when I knew everything there was to know about my field. It got to a point where I was seen as an expert. That seems to be the method for me to succeed since I’m not good at BSing people. I’m pretty blunt and straightforward, maybe too much so.





Right now I'm sitting in a cheap motel where my company is putting me up for training. It smells like curry and smoke and is disgusting. Thinking of negotiating with my manager for a better hotel. I need to recognize my value more and fight for better things.
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Old 06-27-2016, 09:26 PM   #2
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Re: Broke to Million in 5 Years

No blog threads in BFI - moved to House of Blogs.

Good luck with your goals.
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Old 06-28-2016, 12:13 AM   #3
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Re: Broke to Million in 5 Years

Thank you.

Just watched Elon Musk talking about how we are living in a simulation.

He seems very curious and humble. Good qualities to have
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Old 06-28-2016, 03:48 AM   #4
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Re: Broke to Million in 5 Years

Why a million? $300K is just as good for all practical purposes (compared to broke, or even $20K), and it's actually very achievable.
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Old 06-28-2016, 03:58 AM   #5
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Re: Broke to Million in 5 Years

Good luck.
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Old 06-28-2016, 01:00 PM   #6
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Re: Broke to Million in 5 Years

Quote:
Originally Posted by esspoker View Post
The How

How will I go from negative to a million? I think it will be a two-pronged attack, with prong 2 having several options:

1. Move home and save up/pay down as much as possible.
Good way to save money.

Quote:
2A. Get a lucrative sales job and commit to 6+ days per week. Practice constant self-improvement and rehearse and learn as much as possible. Surround self with other successful people. Post here and force myself to reexamine things daily.
Won't work. Not even the slightest chance. Sales has been flooded for far too long, and there are others who are working 100+ hours a week for $50k a year.



Quote:
OR

2B. Get a job with a company that sees the value in me and get promoted through the ranks. Become a sales manager and expand the operations to the point where I am getting a good percentage of commissions from my salespeople.
Takes too long. And same as above. Too flooded with too much competition. If it were that easy to make a million, no one would stay with the company more than 5 years. Companies tend to pay just enough to keep you around. The days of the "Microsoft Millionaires" are long gone.



Quote:
OR

2C. Somehow through serendipity come across an entrepreneur who will work with me and we create a successful business together. .
Why would he work with you when he doesn't need you? No one is going to just be kind for no reason. More likely he will work you to death on promises, and then screw you over and take all the $$.


If you want to make a million in 5 years, then start a business. High risk, but it's the only way you'll make it in 5 years.

A better goal is to make a million in 15-20 years. Go back to school, get an advanced degree, work hard, and make $200k per year doing something you love.
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Old 06-28-2016, 03:18 PM   #7
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Re: Broke to Million in 5 Years

a business is too hard work. what you need is just one great idea. and maybe you can make a business out of that but the important thing is to figure out something important and necessary first. like a movie about all animals attacking all humans
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Old 06-28-2016, 07:51 PM   #8
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Re: Broke to Million in 5 Years

What is value?

I think about this question a lot. Most of it is perceived value. What do I value? What do people like to spend their money on? What do they need to spend their money on?
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Old 06-28-2016, 10:18 PM   #9
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Re: Broke to Million in 5 Years

Key is surrounding self with positive, insightful, driven, wise people. Not many in my training class. Perhaps the only one is the owner of the company. Thinking of seeking new work in corporate software sales. Not liking the idea but maybe I will like it.
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Old 06-28-2016, 11:37 PM   #10
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Re: Broke to Million in 5 Years

Being hard-hearted versus being soft-hearted. Interesting question. Jesus talks of this. So does that man in the Godfather. I'm not a hard hearted man.

What does that mean for success?
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Old 06-29-2016, 07:42 AM   #11
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Re: Broke to Million in 5 Years

Jesus died broke. Do the math.
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Old 06-29-2016, 12:41 PM   #12
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Re: Broke to Million in 5 Years

Integrity means doing the right thing when nobody is looking. Doing right by customers equals higher sales volume and better sleeping at night.
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Old 06-29-2016, 12:43 PM   #13
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Re: Broke to Million in 5 Years

You need start something that has little overhead. Thats why starting a staffing company has always intrigued me
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Old 06-29-2016, 05:30 PM   #14
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Re: Broke to Million in 5 Years

Quote:
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You need start something that has little overhead. Thats why starting a staffing company has always intrigued me
I was thinking about this recently. Downside is I have no experience in the industry, but recently I interviewed for a staffing position. Two actually. It seems interesting as an industry and you can make a fortune.

All you need is a phone and a computer. And drive, ability to talk to people.

I'm a big believer in value driven companies. Good to Great talks about that. Sony I believe was started based on values, before they even had the idea to start an electronics company. PM me if you want to talk further
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Old 06-29-2016, 07:31 PM   #15
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Re: Broke to Million in 5 Years

Thoughts today at training:

1. I can resist all attempts by managers to intimidate or scare me. My resume looks good and I can go get another job when I want, plus I live at home which means no rent, so I have leverage. Leverage = balls. **** anyone who will keep me from my goals because of their weak ass ego.

2. The owner is a human being. Talk to him, go up to him, introduce myself. Don't let the assistants who think they are managers cockblock me. I am moving to new area soon so this is my chance to make good impression.

3. One of my co-trainees is the type of guy who tries to dominate people. He is ego driven. Motivation is psychological in nature. Good for being a salesman, he might do well if he can connect with homeowners. But he comes off douchey and narcissistic. I must work hard to refrain from battling with him. He wants dominance and so do I but my powers are more for common good and I think he just wants to feel stronger. Maybe I'm hypocritical, not sure.

4. It feels good to help others. One trainee is first time sales rep. I try to make him feel better about prospects of job. He is good man and will succeed because he is honest. Must learn to think on his feet.
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Old 06-30-2016, 06:43 PM   #16
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Re: Broke to Million in 5 Years

wondering if starting a porn site is the way to make a million. niche site.
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Old 06-30-2016, 07:11 PM   #17
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Re: Broke to Million in 5 Years

you should make a new type of porno where everyone speaks russian and there's a really weird offputting vibe to all the actors like maybe they're being coerced into doing it by scary people off-camera.

edit: nvm i just checked and there's already a ton of that
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Old 06-30-2016, 10:23 PM   #18
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Re: Broke to Million in 5 Years

Quote:
Originally Posted by ScreaminAsian View Post
you should make a new type of porno where everyone speaks russian and there's a really weird offputting vibe to all the actors like maybe they're being coerced into doing it by scary people off-camera.

edit: nvm i just checked and there's already a ton of that
nobody says porno anymore, it's just porn
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Old 06-30-2016, 10:41 PM   #19
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Re: Broke to Million in 5 Years

1. If you're good in sales look into pharmaceutical sales. All your expenses such as cars, phone, iPad are all paid for and you get a great base + commission.
2. Save up money while you're at home and start investing in real estate. Look for short sales or fir closures to get for cheap. Then fix them up and refinance them and freeroll a few more properties with the refinance money. This is what I'm currently doing.
3. Starting any business is easy. Sustaining it by funding the right business to start and getting clients is the hard part. Id recommend you make allot of close connections with potential clients before making that move.

The million dollars is a good goal to set. Good luck. Hope my input helped.
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Old 07-01-2016, 04:49 PM   #20
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Re: Broke to Million in 5 Years

I don't understand how porn sites make any money, with all the free tube sites and torrenting out there. I think it's possible they just do it to bang hot girls and hardly make a living. The main problem is convincing viewers they should actually pay for something that's so easy to get for free.

The answer might be a super niche fetish type site. But then the problem of course is you'll have such a small customer base.
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Old 07-01-2016, 07:35 PM   #21
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Re: Broke to Million in 5 Years

Quote:
Originally Posted by boxcheck View Post
1. If you're good in sales look into pharmaceutical sales. All your expenses such as cars, phone, iPad are all paid for and you get a great base + commission.
2. Save up money while you're at home and start investing in real estate. Look for short sales or fir closures to get for cheap. Then fix them up and refinance them and freeroll a few more properties with the refinance money. This is what I'm currently doing.
3. Starting any business is easy. Sustaining it by funding the right business to start and getting clients is the hard part. Id recommend you make allot of close connections with potential clients before making that move.

The million dollars is a good goal to set. Good luck. Hope my input helped.
Anything positive is always good. I will try pharma. Seems tough considering my background but I have nothing to lose.

Thoughts today:

Paradise is place in mind. Envision first. What do I want, where do I want to live, who do I want to spend time with. Follow that vision and ignore all outside influences.

Sales. Sales is just connecting to people. Love people. "If you don't love everyone you can't sell anyone." Sales is an adventure. The most exciting job, more exciting than poker. Maybe Roman Warrior or Mongol Warrior would be more exciting. Not sure.

I hate office politics. Maybe sales manager job is out of question. Too many snakes in the grass, I am not good at the game. better at one on one sales. I always gravitate towards commission sales because you don't owe company anything.
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Old 07-02-2016, 07:04 PM   #22
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Re: Broke to Million in 5 Years

Back home, I see picture of myself as a younger man, about 18 years old. Knowing what I know now....

The years have been hard, was so naive then. Made so many mistakes in life. I don't feel regret.

Self knowledge is the gateway to success. So many ventures I've made, purely for the sake of money, while I had no interest in the thing I was working on. Know what I would want to do every day of the week....

Writing. Always wanted to write a book, a novel. Keep writing.
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Old 07-02-2016, 11:18 PM   #23
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Re: Broke to Million in 5 Years

Tired of working with fools... having a high IQ (not to brag since I didn't earn it) makes life hard when you have to tolerate colleagues that are of a much lower IQ... they resent you and you can't tolerate them...

Anyone have this issue? I want to work with intelligent and cultured people.... maybe I want too many things.
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Old 07-03-2016, 12:45 AM   #24
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Re: Broke to Million in 5 Years

All life can be summed up in the following phrase (without being too reductive):

Seek pleasure and avoid pain.

My goal of a million is a desire for pleasure. Would a million dollars give me pleasure? Maybe not. But in the process of seeking the goal, maybe I'll find that thing that gives me pleasure and at the same time makes me money. I have no real love of finance or math. I like creative things like writing and art and comedy.

One rule: follow pleasure.
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Old 07-04-2016, 10:32 PM   #25
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Re: Broke to Million in 5 Years

"When you realize life is all about money, it gets easier." - Kevin O'Leary

Watching Larry King talk. He was before my time. He is talking to Norm Macdonald on a great podcast which is no more. Larry is incredibly transparent and honest. Almost naive, but it doesn't matter since he is so honest. Men don't act like that anymore. Men don't really act like men. We're walking emasculations. Society is in trouble when there is no moral center, no clarity, no understanding of what it means to be a man or a woman. It means service, putting society before self. Too many selfish runts running around....
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