All Topics / Opinionated! / Financial independence goals

Viewing 8 posts - 21 through 28 (of 28 total)
  • Profile photo of lifeXlifeX
    Member
    @lifex
    Join Date: 2004
    Post Count: 651

    resort based services, cleaning, mini bars, etc. Now tied in with Breakfree in Australia.

    His big stumbling block was liqour licensing laws.

    I will get the name of his business for you if it is important.

    It is a franchise to hotels and resorts and not so much to everyday consumers, so you may not of heard of them.


    Live, Learn and Grow

    Lifexperience

    Profile photo of Bris4171Bris4171
    Participant
    @bris4171
    Join Date: 2002
    Post Count: 29

    Hi Caston,
    In general the interview panel wants to know how you can add value to their organisation, how well you fit in to their team, and as things change quickly in the IT world they want to know if you are a keen and quick learner with a cando attitude. Do not tell them you why/how the job is good for you. IN ANSWERING ANY QUESTION ASKED, CONCENTRATE ON TELLING THEM WHY YOU ARE GOOD FOR THE JOB NOT HOW THE JOB IS GOOD FOR YOU. Also when a (usually large) company is serious about whom to hire and want s.o. for the long term, they are very interested in the attitude and ability to learn etc even more than the CURRENT technical skills the applicant has. AS the saying is “you can teach them technical skills but much harder to improve bad attitude”.Terms like “Work hard, not mind putting in the extra mile for a job well done, flexible, positive, can do…. ” are some keywords you should mention in the interview when appropriate)
    I have been on interview panels for a lot of IT jobs hence the above is speaking from experience.
    All the best angood luck with future interviews.

    Regards,

    Profile photo of castoncaston
    Participant
    @caston
    Join Date: 2005
    Post Count: 58

    Good advice.

    I applied for a job recently and in the description it said they were specifcially looking to hire call-out computer techs with “experience running their own business”

    They charge more per half hour than I charge per hour which is quite interesting.

    Profile photo of wezwazwezwaz
    Participant
    @wezwaz
    Join Date: 2003
    Post Count: 192

    My perspective on financial independence:

    Paid work in some respects does have advantages – every week you know what you get to take home and the risk is taken by your employer. Can you say that about your own business? No. These are the trade-offs when we make our choices. Having said that, the disadvantages in paid work can make a life of financial freedom worth fighting for – office politics, working for a boss you don’t like, doing work you don’t want to do, being in a regimented job where you must turn up every day of the week. All that stuff makes it very restrictive. That’s why my focus is firmly on attaining financial independence.

    In looking to achieve my goal, I considered a number of different options – franchises, investing and working harder to make money quicker. I formulated a few ideas:

    Critical mass and
    Path of Least Resistance

    What this simply means is how can I generate an ongoing income to live on with the least amount of pain. The critical mass is the asset that supplies the income. To achieve it I want the simplest way/idea.

    I decided to forget franchises as the time and effort was too much of a burden. I went the path of investing combined with some contract work to feed my investment program. I only have to work around 4 months of the year to keep this snowballing. This gives me plenty of flexibility to research and make my investments, not to mention enjoy myself doing other more interesting things than working.

    I am now in a position where I see myself completely financially independent within the next five years. Yahooooooo!

    My investments of choice are essentially share market related, but may include property at a later time. I have set myself the challenge to show this can be done via the share market route and that property is not the only way.

    Wes.

    Profile photo of TechnoTechno
    Member
    @techno
    Join Date: 2005
    Post Count: 37
    Originally posted by wezwaz:

    My perspective on financial independence:

    Paid work in some respects does have advantages – every week you know what you get to take home and the risk is taken by your employer. Can you say that about your own business? No. These are the trade-offs when we make our choices. Having said that, the disadvantages in paid work can make a life of financial freedom worth fighting for – office politics, working for a boss you don’t like, doing work you don’t want to do, being in a regimented job where you must turn up every day of the week. All that stuff makes it very restrictive. ….Wes.

    Agreed. I think there is another aspect to consider. Retrenchments. Telstra will be reducing 1,000 jobs by Oct. 2005, Qantas has reduced 200 and could reduce more by Christmas. The banks will probably do their annual retrenchments as the months go by. Also, some businesses will collapse and the staff will not have a job, unless they can find another.

    Many IT jobs have been lost through outsourcing to India and will probably continue. This has spread to bookkeeping as well. Many manufacturing jobs have been lost to China (latest is Hills Hoist). Many will go over the next few years.

    During my previous career, like most people, there were times when I enjoyed working and times when I did not. I saw many colleaques in the bank, get retrenched.

    I am glad that I no longer have to work as I have achieved financial freedom. It takes time and effort but looking back, I am thankful. There were a few “morons” that I had to call “boss” in the past. These were people that did not do much work in the office, took credit for subordinates’ work and blamed subordinates whenever anything went wrong. They did not accept responsibility and were merely “bludgers” on the payroll – they were unemployed people that companies paid on the payroll for doing nothing. Gee, there were a few of them along the way. It was like the book “Animal Farm.” Anyone read that?

    Profile photo of castoncaston
    Participant
    @caston
    Join Date: 2005
    Post Count: 58

    Do you perhaps wonder how Steve and Dave would have gone if they took a different route to developing their property/income portfolio? If say instead of buying all those residential properties they franchised their accounting business and bought commercial properties for the franchises to rent from them. That way they are selling a license to use their business processes, trademarks, marketing and familiarity as well as renting out the commercial property to the franchisees.

    Profile photo of wezwazwezwaz
    Participant
    @wezwaz
    Join Date: 2003
    Post Count: 192

    It’s interesting that the contract work I am doing now to get me through to financial independence is autopilot stuff, i.e. could do it with my eyes closed almost and is very repetitive. But that’s OK, because that is just the way I like it. No stress and get paid what I consider to be a very adequate hourly rate.

    See, I decided some years ago that this idea of climbing the ladder into management to get paid a higher salary had knobs on it. I thought, why bother stressing myself out and getting caught up in all the crap that goes with it. That’s when I knew my career was behind me and could focus on important stuff – like becoming financially free and never having to rely on an employer again.

    I am very happy with my decision knowing that contract work is only a means to an end. I never lose my focus. My career is now that of private investor which has been far more interesting and rewarding than my previous career.

    Profile photo of grossrealisationgrossrealisation
    Member
    @grossrealisation
    Join Date: 2005
    Post Count: 1,031

    hi caston
    working for someone is very valuable because a lender likes to see personal tax returns.
    The best way to run a business is to have multipul income from different investments.
    working for some one or running your own business will give very valuable.

    here to help

Viewing 8 posts - 21 through 28 (of 28 total)

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