I’ve come a long way since starting this blog. I’m nearly one-third of the way through my CLU credential, I have streamlined my operation to outsource case management to an office that is far better at such things than myself, and I’ve come to the conclusion that this service is more of a springboard to my end goal rather than the entire scope of my goal. I want to eventually form a credit union as a means to aggressively and rapaciously compete with the American banking system. I want to focus more on fitness and my own personal relationships than I would be able to if I stuck to my goal to have a seven figure income by age 30. Due to these revelations and new goals and liabilities, I’m changing my goal to having a seven figure income by 35.
It’s entirely feasible that I meet this grandiose goal by age 35. I have the knowledge to make this happen and I have it in such abundance that capital is no longer the issue it was previously. I can basically bootstrap my way into placing enough business to meet my income goals, BUT to do so would involve taking time away from a more guaranteed and stable form of income I’m currently getting through a partner site. It would simply make my financial house far less stable and for what? To get to a massive income goal a bit faster? This is not a fair trade off. I’d like to buy a nice condo, continue saving, continue gaining college credit and work on making myself a competent professional instead of leveraging myself to the hilt only to possibly ruin myself and have to start again.
I’ve managed to get the following pitfalls of this industry figured out, now I merely need to maintain consistent improvement in how I execute my future operations:
- A stable and reliable lead source
- An organized means to keep track of prospects/clients
- A way to minimize the total transactional cost exerted to obtain a client in both time and money
These have been some of my largest and most pressing Achilles heals in the past. If you can’t keep business coming in and can’t process it in a manner that is efficient and organized enough to be scalable, then you don’t have much of a business model.