In a snapshot, I’ve gone from a Job to Property Investing to Online Business. This allows me to share with you, which one I prefer and why!
Why I left a promising Job
I transitioned out of a promising career path in engineering into UK Property Investing because of one defining money principle:
In engineering, I would turn up at 6 am (I would progressively turn up later and later once I understood the above principle) and ‘clock off’ at 6 pm. For this time, I would be paid in kind.
The challenge with this is, once I stopped giving my engineering boss my time, he would stop giving me money. If you feel uncomfortable by this trapping, then you’ll understand why I made the next move.
From Job to Property Investing
The next move was learning how to apply my time acquiring assets in a proven wealth class, UK Property, through the skill of property investing. The difference between my application of time in property vs. engineering is once I have acquired a property it will pay me regardless of how much or how little I ‘turn up’. Acquire enough properties and you have yourself a portfolio. Once you have yourself a portfolio, you’ll have an income that replaces what most bosses can offer.
Having achieved this, I asked, whats next? Should I keep buying more brick and mortar assets or enter a new asset class? If you’re reading this and have followed any of our work, you’ll know I entered a new asset class.
From Property Investing to Online Business
This time as part of a team, but more on that in a future post. If a property is a physical asset that pays out money, then the best way to describe the new asset class we (its a team game now) entered is a digital asset that pays out money. Acquired through the skill of Online Business – creating, launching, acquiring and investing. It’s the same as property in that you don’t have to trade time for money like I was doing in my engineering job.
But that’s where the similarity ends because unlike property, a digital asset is a macro term for close to a limitless number of different micro-assets.
Why I chose Property Investing to Online Business
Let’s look at the property once again to understand this difference. Within property investing you’ll have different strategies deployed by a varying sophistication of investor. All the way from a hobbyist to an institutional pension fund. They will have access to approximately 10-15 different property strategies. Such as Buy To Let, House of Multiple Occupation (HMO), Social Housing and Commercial Property. Within these strategies are niche areas. Such as HMO for Students, HMO for professionals and HMO for divorced males.
Here’s the important point, that’s as micro as it gets. You could list every possible property niche on two sides of A4 paper.
Whereas it wouldn’t be viable to list all the available niches in the form of digital assets. In fact, to even come close to understanding what’s out there, we’d need the help of Google, Amazon and others. That’s how limitless the list of niches are. To give you some context on what this looks like in practice, at the start of the pandemic, we ran a series of free complete how-to series of which one segment describes how to identify niche areas. This will give you an insight into the difference between property and digital assets. More so, why I decided to move from Property Investing to Online Business.
What does Online Business look like?
If like me you’re thinking about transitioning from what you’re doing now to Online Business but are still unsure what it looks like, here’s Naval Ravikant with another insight:
By unpackaging Naval’s tweet, we can begin to form a list of what a digital asset looks like:
- Blog – written word
- Podcast – audio experience
- Video – visual information
- A combination of all three
- Code within a software
- An entire piece of software
You can take any of the simple examples listed above and apply them to any niche. You’re reading one of my digital assets right now. By the way, have you had a chance to listen to my other one? – You get the point.
Job, Property Investing or Online Business. Which will it be?
With this understanding, you can now begin to map out your transition. Will it be from job to property investingg to online business. Or will you skip a physical asset class altogether?
Whichever you choose, what’s for certain is the transition from trading time for money to acquiring assets that pay you regardless of time committed is a worthy one to pursue.