Are you working towards your financial freedom? Does it seem impossible?
Most of our goals seem impossible until we meet someone who has actually done something similar. I always get this feeling that everything is impossible or just out of reach for me for no particular reason. This happens with every single goal that I go after.
When I first try anything, I almost give up before I begin because I think that I just can’t do it. There’s no logical reason for my thinking either.
Then something strange happens. I look around. I see other people doing amazing things in the same field. They come from similar beginnings. This helps me realize that I have no excuse. This helps me slap my fears across the face.
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Where am I going with this?
A while back Dough Roller put together a list of blogs that sold for $1 million or more. Guess who made the list? Bargaineering, the site that Jim Wang started. Bargaineering, was valued at $3M. Not bad, eh?
Guess who’s here to answer some questions for us? Jim Wang!
When Jim talks, I listen. He has been there and done that. Jim was kind enough to respond to all of my questions about creating a dream lifestyle, going after financial freedom, and reaching your goals.
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Jim on quitting work and making the right choices:
What made you quit your job and when did you realize it was a good idea?
Jim: Bargaineering was doing exceptionally well and I realized that I was spending my time in all the wrong places. A hobby that I started after work was now commanding more and more of my time. It was paying me very well, much better than my day job, but I was spending far more time at my day job.
It got to the point where I couldn’t work my day job anymore. I enjoyed what I did, I enjoyed the people I was working with, but the math just didn’t work out. I had to quit, which is a great position to be in.
I also felt that if things went south on Bargaineering and I wasn’t 100% committed, both in time and my mentality, I’d regret it tremendously.
Fortunately things worked out so regret minimization won!
[Quick note from Martin: This thinking totally reminds me of our look at burning the ships. Sometimes you have to go all in. 100%. This worked out for Jim! If you’re looking to steal an idea, this is it. Devote yourself totally to a project that you’re certain on.]
How different do you think your life would be today if you never started your own business?
Jim: I’d like to think I’d find success in the world I used to be in but who knows. I think I’d be working a more traditional 9-to-5 job and I’d be happy to put in my 40+ hour weeks and go home to spend time with my family.
As it stands, I put in my 40+ hours a week on a variety of ventures and still get to spend time with my family.
The flexibility of working for yourself comes in where you spend those 40 hours. It’s no longer 9-to-5, it’s 6-to-8, then 10-4, etc. I prefer the flexibility thought!
Jim on designing a dream lifestyle:
How’s your typical day now that you sold your business?
Jim: It hasn’t changed much actually, I’m working on a bunch of different projects with different people rather than one project all by myself.
I actually prefer things this way, I wonder how much bigger and better Bargaineering might have been if I had a partner to share ideas and brainstorm with.
I still do much of what I was doing before, talking on the phone, instant messaging, etc; it’s just with a different purpose.
What advice do you have for those that want to be financially free by 30?
Jim: The path to financial freedom is different for everyone but they all share some common vein – it’s about happiness.
Happiness is far more important than the sum of your assets and happiness doesn’t necessarily come simply because you have money.
Money does make life easier but fulfillment and peace are more important, try to do things that bring that into your life and you’ll find the rest sorts itself out.
Thanks for your time Jim!
If you want to see more from Jim, you need to check out Microblogger, where there’s a colossal piece up on day one advice from 78 successful bloggers.
“Lacking an external focus, the mind turns inward on itself and creates problems to solve, even if the problems are undefined or unimportant. If you find a focus, an ambitious goal that seems impossible and forces you to grow, these doubts disappear.” — Tim Ferriss