From waiter to millionaire mindset (+ my tactic in progress)

This Article will be super meta. Let me explain: The moment you teach or write something you learn twice. So, I am working on this article and I am fully aware of the mistakes I made, but most important the mistakes I will make. I am getting better at writing about getting better. This wasn’t always the case…

There were a lot of big bumps, at the beginning of my journey. I had to figure out so many things about myself first. Quickly I realized there isn't any shortcut from waiter to millionaire.

It was a humbling time. But uplifting as well, because I got a lot of support along the way. It took me 2 years to figure out exactly what I wanted to do, probably even 35 years if I am honest. There wasn’t a “Big turning point”, which made me rethink my life. I was just starring at the ceiling for too long.

Starter

Before we start, I would recommend you, read the following article: 10 steps how to start a new chapter in your life. (Link) This is a fundamental mindset before you even consider changing your work environment. Because there is almost nothing that can prepare you for the next stage. Working from home can make you feel lonely, bored, frustrated, overwhelmed and in many ways not rewarding (I know what I am talking).

Unless you are making something from your passion, don’t quit your job. It must be a progressive decision. Always rational, not emotional.

Well, if you are fine with all this, read on!

Main

What I learned along the way was to focus on one income stream at the time. This will give you the chance to start a second income stream later. You can’t have different business plans, same like you can’t have different marriage partners. Here is my tactic:

Step 1 (in process):

Let's say you start a blog as I do now. Pick a niche you are confident in, sign up for free and start writing. Soon you can make some advertising like affiliate, google ads, Facebook ads. Build a community and some loyal followers. Aim at 1000. (Link)

After a couple of months, you will make around 1000£ a month, so you can start working part-time. This will give you the chance to promote your articles and deliver more content. Invest even more time and resources.

A couple of months later you probably make 2000£ which means you can stop working. This will give you 20-40 more hours a week which you can invest in your business. That’s my goal currently.

Step 2:

Now and only now you can start a new project. To get focus on this project you source out your blog. From now on marketing, copywriting, research, social media can be done by someone from Fiver or I recommend peopleperhour. You can focus on a YouTube channel, Amazon FBA, whatever you feel comfortable. The moment it makes a stable income, you source out some tasks again.

Step 3:

Look back and see what you accomplish. It’s time to start writing Kindle E-Books or produce an Online Course about your progress and share your gained knowledge. And so on. You understand where we are heading. If you know just 10% more in your field, then the person in front of you, they will consider you as an expert.

Dessert

– “I don’t know what I want, but I know what I don’t want!” Woody Allen

The most common excuses I got lately (+my response)

I am always tired! Do sport, eat healthily, go early to sleep, stop drinking two glasses of wine every evening.

I don’t have money! Most people don’t have, that’s why they started. For step 1 is no investment required.

I don’t know which platform! Choose the one you use the most. If you like YouTube, start there. You can make Videos without showing your Face.

I don’t know what’s my passion! Just talk about or do the stuff you would do for free anyway. Sometimes you can’t see it until you are looking for it.

I don’t think I can reach my goals! If someone did it before you, you can too.

If you have some good excuses, let me know in the comments or drop me a message at admin@lostinhospitality.com

Conclusion

Have a look at the picture on the left side. Jeff Bezos' office in 1999, Amazon's early days. Apparently, the desk itself was made from a door and a few brackets. Everyone starts somewhere!

The most precious advice is that there are no absolutes. Fulltime entrepreneur or full-time business college are not the only options. There are so many variables in the long run. One of the best pieces of advice Gary Vaynerchuk has ever given me is this: Work your 9-5, get back, eat something, take a shower, and then devote as many hours as you can on your business and keep that for a minimum of 36 months. That way you can pay your bills AND work on your passion. Why Passion? Because if you don’t like what you do, not like the procedure of doing it, you will get sick of it. It’s like putting you on a 36-month diet. Your willpower will go away. You just can’t sustain it for long.

And…

Get focused, don’t get distracted. Stop chasing the newest trends and platforms to be in the game. They come and go. The market is so overwhelming anyway. Pick something, get really good at it. Later on, you still can expand. Grow organically and enjoy the ride!

With this blog, I will try to document the progress. I can establish my expertise, build trust and finally I get the opportunity to share my knowledge. It will take months, years, I wish I knew. But it will be worthy and it's much more rewarding then polishing cutlery in a dark corner somewhere in the basement of a London Hotel.