Going Long Podcast_Episode 439_Billy Keels

Tue, Jul 23, 2024 6:26AM • 12:14

SUMMARY KEYWORDS

side hustle, build, create, profitable, realize, business, idea, invest, mediterranean, profitable business, knew, episode, figure, positive energy, path, arbitrage, corporate, super simple, optional, family

SPEAKERS

Billy Keels

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Billy Keels  00:00

Today's conversation is sponsored by the Billy keels advisory program. If you want to learn more about how to make your nine to five optional, just go to Billy keels.com, forward slash advising. Once again, that's Billy keels.com, forward slash advising. Now you're crystal clear on what it means to truly make your nine to five optional. The thing is, you're still feeling a little bit stuck. So you want to understand how to more easily identify profitable, side hustle, your profitable side hustle, right? And so when you have this idea of okay, now you know that you You're clearly identified that the side hustles that thing for you that you want to make your nine to five optional. Now that thing is how to more easily identify your profitable side hustle. When you're feeling stuck, it never seems easy. Which is why the whole point is, is that you want to find somebody who's already walked the path before you. So one of the things that you're going to understand better today is, well, you're not the only one who's thinking this way, you're not the only one who's feeling this way. I mean, I think about my corporate life, I'd been in corporate life for at this point, probably 20 years, a little over 20 years. I'm probably in my mid 30s route, 35 years old. And I remember being in Barcelona, Spain, I'm sitting in my boss's office got this amazing Mediterranean view, like these massive windows, right? Like, you're like probably, I don't know, 1015 10, maybe 15 feet high, crystal clear. You can see out on the Mediterranean, we're in this business meeting he the two of us, and we start talking about or he's actually talking to me, like we're going through the sales forecast, and all that kind of stuff. And then he started telling me about this business that he had this business that he's living in Barcelona, Spain, and he has these these rental properties that are back in Scotland, and and we start getting into this whole idea of invest living in one place investing in another place because of something called financial arbitrage where it made more sense, his his his pounds, in this case, his currency went much further in the place where he's from, and the place that he was living. But anyway, so. But I also have this natural curiosity, I'm trying to figure out okay, well, yeah, I knew what my path was. I wanted to continue to make more money corporate was treating me really well, enterprise software sales and sales leadership was absolutely amazing. And this internal desire that I had to make sure that I was prepared to prepare, that I was prepared to provide for a family that I knew that I was going to have years down the line, right. So I'm in my mid 30s, ended up getting married in my late 30s, first children, prior to 40, and all that other kind of stuff. So but the thing is, is I didn't realize that I was my mindset was completely blocked, because I only knew, and you may be in the same boat, you may only know that the one path they've set you free, because you come from a lower middle class family too. And you realize that not having money sucks. And the thing that's going to solve all your problems is it means making more money. And so you find this really great job that's paying you multiple, six figures, you get these massive bonus checks. And everything that happens in the company revolves around you. At least that's how you feel. But the thing is, is you have this one path, and the path is to move up and up and up and up and up the corporate ladder. And I was in the exact same position, right, I was in the exact same position. And that was the path that I knew. But I didn't realize that that was kind of holding me back. Because not only was I a high performer, and you get into these things where you're taking on more projects, and you may decide that you want to better position yourself for the next promotion and you're stuck, you're thinking three, four steps ahead. And so you're the strategic thinker, you're you're creating lots of action. But the thing is, and hopefully you're getting this out of the podcast, but it's just like that meeting that I was having with my boss overlooking the Mediterranean, these amazing views and thinking about financial arbitrage, which was oh my goodness, there's absolutely another way. Like it was like, oh, okay, wow, up absolutely amazing. But the thing is, is because I didn't know enough about that, and the terminology was new and financial arbitrage and how you had to work with different currencies and living in different places and building different teams. I had to stop. Right. So one thing that that I started realizing, and this is getting on the path to figuring out like how you how you are going to easily identify your profitable side hustle. This is the thing that started happening to me like as I started going into podcasts, and I was watching videos and YouTube and I started reading more and more books, all of this stuff on rental real estate now for you, it may be that you want to build a business online or maybe that you have specific services that you can offer someone else because you have a specific expertise but the I the idea was you have to start to build a plan and so I started building my plan gate getting educated, Building Network starting to get accountability. But the thing that I knew, especially when you're thinking about doing something profitably, it is how can you create it once and I was living in the software space, right and it was everything like is software development is go out and create the software. And once you create the software, then you just enhance the software, you do these updates and things like that, when you create that the thing is, and what I started realizing about profitable businesses is you do a lot of upfront investment of time resource energy. And then you want to make sure your upfront investment can then be repeated over time. Right? create it once, and then after you create it, the model the system, the process, then you just are able to use that over and over and over. Because when you refine it, that's where you're doing something you already enjoy something that you like, and you're beginning to make it more and more profitable over time, because you're not recreating the wheel every single time, you're just making things better. And it was no different for me, right? I started realizing after the videos in the, in the online communities investing in, in myself and all these other types of things that it was just a matter of time, build it once. And then it was something that can manage itself. Unlike my job, which had to be managed every single day, something different because in sales and sales leadership, there's always something that comes up always something you have to be prepared for. And so the idea was, okay. And I want you to think about what is the thing that you know, and actually, there's very, there's three super simple questions that I'm going to give you that will help you identify your profitable side hustle, like building the business on the side. But there's three super simple steps, and I'm gonna give you in just a second, because the thing is, I also want to keep it real. Like when I was going through this process, I had a day job. It was tough. Like I was exhausted, because I was trying to figure out, like, how do I prepare for this family? And how do I build this, think about building this dream, and I've got this day job. So I was distracted. And I didn't have the real motivation, at least at the time. But there's always going to be this conflict of time, because every single day has 24 hours, every week has 168 hours, and you have to be able to properly utilize them or leverage the time that you're given. And so when I didn't have a clear plan, I didn't have accountability, I realized that it was going to be tough, right? But don't forget, I'm gonna give you three questions that you need to ask yourself, so that you can more easily identify your profitable side hustle, right, the business that you're going to build on the side. So after you get to that, and you're gonna get to a point where just just like I did, like I was able to build a profitable, a profitable business on the side, one that allowed me go into my job for four years, knowing that I didn't actually have to go into the job. I went there because I liked it because I wanted to go into the job very similar to that talk to you about in episode 438. Right. So in truly understanding what making your nine to five optional, what that really means. And if you if you also listen to episode 437, and you realize that you have these clear fire signs, surefire signs that you need to create a side hustle, well, like these are three of the questions that you're going to ask yourself, to be able to figure out how you easily identify the profitable side hustle, right? And so. So you're gonna get to that point where you will achieve it right. I've been there, I've done that I've achieved it. But the thing that helped me to really get a crystal clear idea was I asked myself three very simple questions when it was came to to identifying the side hustle, as well as building the life in the life design around what I wanted to be able to do. The first question was, like, does the business that you are going to create, whether it's a service business or product based? Is it gives you positive energy? Does this build this business that I'm thinking of creating that you're thinking of creating? Does it give you positive energy? That's the first starting point. That's where I started. Because I started thinking about real estate was a cool was it going to be scalable, that can I use a lot of the same skills that I had in my corporate role, and being able to do that once I decided I was not going to invest in Spain, I was absolutely not going to invest in Barcelona, I was gonna invest in the United States, I can use the same process understanding process knowledge, sales, sales, leadership, team building, I could use that and it was going to give me positive energy. Question number two, can you create the right environment with the job with the with the with the new role that you are going to build outside of your nine to five job? Can you create the right environment? For your new business? Yes or no? Like make these super simple. These are three super simple questions that are going to help you more easily identify your profitable side hustle. And then question number three is, will the economics of the business that you are going to build will that support you, your family and your lifestyle? Like there's three super simple questions that how to more easily identify your profitable side hustle and that is, number one. Does the business give you positive energy? Number two, can you create the right environment around the product or service that you're going to deliver? And number three, will the economics of this new business support you and that's how you get to more easily identify your profitable scientists. It's super simple. And then once you start to realize This this is an iterative process meaning that this is something that once you said it once, that you're able to continuously refine and make better for you, because it's giving you positive energy, you're creating the environment around the solution around the product that you want. And also it is there is a, the economics of the solution is going to support you and your family. So three very, super simple questions that are going to help you to more easily identify your profitable side hustle, I want to leave it there, I want to keep it simple. And also, like I said, if you already realized that you got you know that you need to build a side hustle when you want to maybe go back, you can listen to episode 437 talks about the sure the five surefire signs or maybe go even to back to 438. Or you can understand clearly when we talk about making your nine to five optional, what that really means. And then listen to this one again, right? Because it's gonna help you understand how you might easily identify your profitable side hustle. So with that stated, take today's conversation, like I say, continue to share it with family with friends talk about it. Hey, heck, if you got questions for me, you know how to easily find me. And, and also to Yeah, just make sure you share it. Really appreciate you appreciate your attention. And most importantly, we'd love to get your feedback and hear how the episodes are helping you move forward faster. And doing that in a way that makes sense for you. So I guess until next time, I'll be here. While you're out there in taking the episode and putting it into practice. I'll be here preparing for another conversation or another episode. So until then, I want you to go out and make it a great day. And thank you very, very much. Today's conversation was sponsored by the Billy keels advisory program. If you're looking to make your nine to five optional and need some help, just go to Billy keels.com forward slash advising once again, that's Billy keels.com forward slash advising

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