TIE #021: If I Was Starting Over Today, This is What I Would Do

Escaping the rat race is easier than you think.

Apparently you hate money. If you didn’t, you’d be using Rakuten every time you shop on websites like Walmart and Target to save money.

They have paid me over $8,000 for things I was already going to buy for my one-person business (click here for proof).

They are also the reason this post is free to read. Sign up here and get $30 for free after your first use.

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Several years ago I was miserable.

I had recently graduated college with an engineering degree that I never wanted, despite paying out of pocket for it all by myself.

I had also started my so-called “amazing” career that I knew I would never enjoy.

To some, this rat race sounds like a dream lifestyle. To me (despite growing up poor), it was hell on earth.

For the uninitiated, the rat race goes a bit like this:

1. Wake up to an alarm every morning

2. Sit in traffic

3. Work hard

4. Get told what to do

5. Hope you get a pay raise so you can finally save some money

6. Repeat for 45 years while telling yourself “happiness is right around the corner”

Sound familiar?

If I wanted to spend time with family on a Tuesday morning, TOO BAD.

If I felt like I deserved $100/hour for my time, TOO BAD.

Having no control over my time and pay pissed me off. It should piss you off too.

So what did I do?

I promised myself I would do everything in my power to escape.

I struggled, I failed constantly, but I kept going. Eventually, I broke through.

Here is what I would do if I had to do it all over again in 2023:

Step 1: Understand what it takes

We all join the rat race because we want things. We want shelter, food, and comfort. If you want these things, you need money.

Hate it all you want, but this is reality.

To leave the rat race, you need either one of these situations to happen:

• Have so much money that you never have to work again

• Make at least the same amount you do now, on your own

The latter is much easier, but can lead to the former if you want it to. However, it takes a ton of work.

All things worth doing take extensive effort and consistency. Recognize this and accept this.

Step 2: Get an Amazon Seller Account

Selling on Amazon gives you the best chance to make efficient money online as a beginner with no experience.

Trust me, I’ve tried it all.

If that’s not something you’re willing to do, you don’t want it bad enough.

Step 3: Turn $1 into $1.30, repeatedly

If you can buy something on the internet, sell it on Amazon, and end up with 30% more than you started with, you have a personal money printer.

This is what most Amazon sellers do.

Do this while improving a little bit every day and you’ll end up with a small fortune thanks to the power of compounding.

Don’t just take my word for it:

Click here to follow @BowTiedBroke

Don’t worry, you don’t need $100,000 to start an Amazon business. I started mine with only $200.

Step 4: Leave job when income is replaced + 6 month emergency fund

I left my job once it started to cost me money to be there and after I had an emergency fund set up.

In retrospect, this was overkill but it was the smart way to do it.

The free time will not only allow you to grow your Amazon business further, but your job will no longer own your time.

YOU will own your time.

Step 5: Diversify

The last thing you want to do is watch your empire crumble because of a stupid mistake.

Don’t put all your eggs into one basket and only run an Amazon business after leaving your job.

Expand into other areas of income generation:

• Educate others on how to get started

• Buy cash-flowing real estate (if it’s a good deal)

• Start other e-commerce businesses outside of Amazon

• Start a service business (physical or digital)

• Invest in dividend paying stocks & LEGOs

Look, I don’t know everything. I will never pretend I do.

However, this is what worked for me and it would work again if I had to start from nothing today.

The only thing separating you from controlling your time is:

• A plan (like the one I just gave you)

• A couple years of concentrated effort

As always, the choice is yours.

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When you are ready, there are two different ways I can help you:

1. If you are interested in starting an efficient one-person online business, I recommend starting with one of the following:

   1. Textbook Flipping Mastery - My in-depth guide on how to start a high-margin Amazon e-commerce business.

   2. LEGO Investing Mastery - My in-depth guide on how to start a long-term “buy, hold, and sell” LEGO investing business.

   3. The Conference Room - My private mentorship community that includes the two guides above, for free. Pay once and stay a member for life.

2. If you are interested following along with my personal LEGO investment portfolio and getting exclusive alerts when I add a new set to that portfolio:

   1. Become a paid subscriber here (7-day free trial available)