I ended the three year curse of silence and now my mind is free to explore the next step of my professional life. Within the last three years I decided to leave a well paying full time job to pursue my own business; and with the markets my business has seen its ups and downs.
However, I often ponder if I am going down the right path? Am I utilizing my full potential? Do I love what I do? Could I see myself doing this for the rest of my life?
However, I was introduced to the President of a renewable energy company who required a Junior Financial Analyst. Within three months I was promoted to Budget Manager and I was presenting the financial statement to the Board of Directors at the young age of 21. Over the years of being employed at this public company, I became proficient in full cycle accounting, database management, and I learned to create end user applications for various departments. No one asked me to learn and master these skills; I just saw an opportunity and ran with it.
During my employment, I went on the vacation that my story took place. After recovering in hospital and then at home, I concluded that I was never going to be happy working for someone else. No matter how many ideas and strategies I could suggest, the powers that be ignored most of them. All I wanted to do was make the company a better place to be for both the employer and employees.
With the markets crashing in 2008, my employer at the time was facing major financing setbacks. As the Budget Manager, I saw the writing on the wall, and requested to be laid off as it was inevitable. Immediately, I incorporated a business and tried to build a boutique wealth management firm in the worst economic climate possible (now looking back, that was probably not the best business model). However, my firm wasn't trying to force sales, it offered individuals an opportunity to look at their current financial plan or assist in creating a new one.
To generate stable cash flow, I offered my services to conduct full cycle bookkeeping and year end accounting for small to medium sized businesses. As time passed, I was fortunate to secure large contracts, but there was one problem: I did not enjoy bookkeeping. I never asked myself, "Why am I doing this?" Obviously, I need to survive and pay the bills, but I was not happy. As mentioned previously, I am the type of person that thrives on making every transaction optimal for everyone. It doesn't even have to be financial; I get satisfaction in helping people. Unfortunately, I have found more times than not, accounting and wealth management can be the most thankless job on the market.
Regardless what anyone says, if you own a business, Accounting is a necessity; therefore, most automatically conclude the role of the accountant can easily be filled by anyone with letters beside their name. As for wealth management, you are damned if you do, and you are damned if you don't. If you build a portfolio that suffers in the short term, you are your client's worst enemy, or if it grows above and beyond expectations, your client will curse you for not persuading them to invest more.
Wealth is a tough nut to crack; most people will work their entire life and never be wealthy. But, most do not realize that you do not have to be rich to be wealthy. The principles to generating wealth are simple; however, there are variables that one perceives they can not control thus making it easy for them to make excuses. I never understood why financial planners should be compensated with commissions, win or lose they get paid. That is why I prefer the fee for service model with my clients. I provide unbiased wealth and estate planning strategies, and I charge a fixed rate.
I created my blog sites to share my knowledge and empower my readers to become more educated with knowing their numbers and help them budget for the everyday life. As time passes I would prefer to spend more time submitting blogs as well creating financial tools for the average person, and less time generating new business face to face. Unfortunately, the internet is saturated with financial bloggers, some great (BohKnowsDough, Punch Debt in the Face, and The Consumerist) and some that should avoid calling themselves experts and submit a proper disclosure.
I am currently on the path of generating wealth through passive income, but it will not be from blogging. I will be happy to share my business model in the future when I have launched my new business plan. I made the initial step to leave a steady pay check from full time employment to the highs and lows of self-employment. Now I just want to free up my time so I can focus on activities that is beneficial for a larger audience while having the stability of recurring income. All I want in my professional life is to be able to make the world a better place. Blogging is one of many activities I am involved in.
If you had all the time and resources needed, would you change your career or choice of activities in your personal time?
Only in time, will I know if I am making the right decision or if I need to start all over again. However, it is a risk I am willing to take.
The Art of Almost Dying - Celebrating My Three Year Anniversary
The Joys of Self Employment
Pursuit Of Happiness