Just starting out-

[retleftolc]

Going through the Dreamlining Process for the first time.

My TMI is a little over 100k, but one of the items is 75K one time expenditure. How do you factor that in. If the play is to do that in my 12 month goals, should I divide 75/12 then enter it into the spreadsheet?

Im a little confused, but trying. My Starred TMI is about 11,000 (including all expenses). I have a family, so much of my goals include having a fixed home and living life with them. Is 11,000 near the common starting mark for most?

Ret

[nghs22]

if your TMI was 100k, your yearly net would have to be 1,200,000. That isn't going to happen. I highly doubt Tim is pulling that kinda cheese with the supplement company.

Anyways, yes, you divide the 75k by 12 (you might want to add in interest though)

Don't worry about the money up front. Just focus on making a muse successful. It will be very bloody hard. Can it be done, yes! But remember, for every 10 people on this board, only 2 will be successful enough to live the Ferris lifestyle

[mascij]

if your TMI was 100k, your yearly net would have to be 1,200,000. That isn't going to happen. I highly doubt Tim is pulling that kinda cheese with the supplement company.

Anyways, yes, you divide the 75k by 12 (you might want to add in interest though)

Don't worry about the money up front. Just focus on making a muse successful. It will be very bloody hard. Can it be done, yes! But remember, for every 10 people on this board, only 2 will be successful enough to live the Ferris lifestyle

shit, 1 in 5? I didn't even think it'd be that high...

[nghs22]

shit, 1 in 5? I didn't even think it'd be that high...

80/20 law mate. Probably less for this type of activity...

[clanshrapnel]

that's not the 80/20 law.

Pareto's law regards 2 different properties, such as 80% of your profits come from 20% of your customers. The 80 and 20 are components of different properties, not the same property, and can be skewed to 85/25, 95/10, 70/20, etc... and they still make sense because those two percentages do not make up the same 100% of one component.

Please be careful with the use of this Pareto's law. People who use it incorrectly make assumptions like, 'I should be guaranteed an 80% or better on all of my tests if I put in 20% of the necessary time to study' which make little to no sense at all. Even saying, '80% of my grade comes from using 20% of my full study effort' still doesn't make sense... not everything follows Pareto's law people!

Small business startups being successful are more like along the lines of 1-2% last time I read.

[nghs22]

that's not the 80/20 law.

Pareto's law regards 2 different properties, such as 80% of your profits come from 20% of your customers. The 80 and 20 are components of different properties, not the same property, and can be skewed to 85/25, 95/10, 70/20, etc... and they still make sense because those two percentages do not make up the same 100% of one component.

Please be careful with the use of this Pareto's law. People who use it incorrectly make assumptions like, 'I should be guaranteed an 80% or better on all of my tests if I put in 20% of the necessary time to study' which make little to no sense at all. Even saying, '80% of my grade comes from using 20% of my full study effort' still doesn't make sense... not everything follows Pareto's law people!

Small business startups being successful are more like along the lines of 1-2% last time I read.

Good point mate. Thanks for the heads up. i stand corrected!! Knowledge is power

[AntonTheKhan]

It is absolutely possible. But my question to you is why put such a big target infront of you and then get discouraged and quit when you dont see results within a month (because you won't)?
I'd say start small so you don't overwhelm yourself, and then start building up.
Earn $100 before you earn $1000. And ear $1000 before earning $10,000. make sense, walk before you run.
A smaller muse with lesser income and lesser investment will be like a traning bike. You will make mistakes, you will learn, but the stakes are not huge.
Going through the Dreamlining Process for the first time.

My TMI is a little over 100k, but one of the items is 75K one time expenditure. How do you factor that in. If the play is to do that in my 12 month goals, should I divide 75/12 then enter it into the spreadsheet?

Im a little confused, but trying. My Starred TMI is about 11,000 (including all expenses). I have a family, so much of my goals include having a fixed home and living life with them. Is 11,000 near the common starting mark for most?

Ret

[retleftolc]

I didnt really go into it thinking of setting huge goals. I was just answering the question in the book. I would love to make 100K a month tomorrow, but my question was really concerning the skewed amount due to the 75k needed for one of the items on my list.

Just FYI, the 75K would be used to play poker in a very specific setting. Its called Bobby's Room. Its where the big game is played at the Bellagio in Vegas. Thats almost more of a fantasy than a dream. I probably wouldn't actually lose the whole amount, but thats about what it would take to get in the door.

Like I said Im just starting out. I don't know enough about it to make a judgement on how much can be produced over what period of time.


Ret

[AntonTheKhan]

You are confused.
To produce such a huge amount of wealth you need to really build a business and throw yourself in it 24/7. With investors, etc., etc.
A muse won't cut it. A muse is supposed to provide an average income while not being time consuming at all, and most importantly being remotely operable so you can be anywhere on god's earth and be able to run it with a laptop and inet connection.
At least that's my take on it.
Of course there are millionaires who sell info products only, but it takes many years to get to that point, refine all the strategies, etc.
So get ur head out of your behind and start thinking soberly.

I didnt really go into it thinking of setting huge goals. I was just answering the question in the book. I would love to make 100K a month tomorrow, but my question was really concerning the skewed amount due to the 75k needed for one of the items on my list.

Just FYI, the 75K would be used to play poker in a very specific setting. Its called Bobby's Room. Its where the big game is played at the Bellagio in Vegas. Thats almost more of a fantasy than a dream. I probably wouldn't actually lose the whole amount, but thats about what it would take to get in the door.

Like I said Im just starting out. I don't know enough about it to make a judgement on how much can be produced over what period of time.


Ret

[retleftolc]

I searched both my post and didn't find the word muse.

"Like I said I'm just starting out. I don't know enough about it to make a judgment on how much can be produced over what period of time."

^^^^ This is the part where I say I don't know how much can be produced. This statement is to show that I don't have an opinion either way as to whether I can make $1/mth or $72,000,000/mth.

"I would love to make 100K a month tomorrow, but my question was really concerning the skewed amount due to the 75k needed for one of the items on my list."

^^^^ This is the part where I show that I'm not really concerned with how much money I currently make, or am able to make, but how to go about adjusting for a goal that skews a Dreamline.


"So get ur head out of your behind and start thinking soberly."

^^^^ This is the part where poor reading comprehension lead to you being kind of a smart ass.

"Im a little confused"

^^^^ This is the part where I state that I am confused.

"You are confused."

^^^^ This is the part where you state the obvious.

Ret

[AntonTheKhan]

Well,
Then figure out how to make that 75K. Set a deadline, and go make it.

I searched both my post and didn't find the word muse.

"Like I said I'm just starting out. I don't know enough about it to make a judgment on how much can be produced over what period of time."

^^^^ This is the part where I say I don't know how much can be produced. This statement is to show that I don't have an opinion either way as to whether I can make $1/mth or $72,000,000/mth.

"I would love to make 100K a month tomorrow, but my question was really concerning the skewed amount due to the 75k needed for one of the items on my list."

^^^^ This is the part where I show that I'm not really concerned with how much money I currently make, or am able to make, but how to go about adjusting for a goal that skews a Dreamline.


"So get ur head out of your behind and start thinking soberly."

^^^^ This is the part where poor reading comprehension lead to you being kind of a smart ass.

"Im a little confused"

^^^^ This is the part where I state that I am confused.

"You are confused."

^^^^ This is the part where you state the obvious.

Ret

[retleftolc]

Your reading comprehension is really poor.

I don't care about the 75k. I cared about how to count it. As stated before my Starred TMI is only 10K. I only have to come up with 2k/mth more to reach that goal.

Ret

[AntonTheKhan]

Obviously if you need to make that 75K because its your dream to blow it in a poker game, then go on about making it, plus making the extra 2K a month.
I mean all of this TMI stuff is just for your convenience.
If you know how to play poker very well, you can set up and interactive website and get members to sign up and learn for $50 a month or whatever.

Your reading comprehension is really poor.

I don't care about the 75k. I cared about how to count it. As stated before my Starred TMI is only 10K. I only have to come up with 2k/mth more to reach that goal.

Ret

[TimW]

If he's wanting to plonk down the cheddar to get into Bobby's Room, I am going to make the assumption he knows how to play poker....and that he knows how to play well. Because if he doesn't, then he'd be better off taking that $75,000 to the Mustang Ranch...at least there'd be a guaranteed outcome there....

:D

[retleftolc]

Poker is how I pay the bills. I am of course a loser in that game. It was just on my list of things to do. I would probably not lose the whole 75k and could hit a heater (good run of cards) and come out with a lot more.

To a large part, I believe 4HWW is about retraining people how to think about expectations. We (society) expect so little out of ourselves. I am setting a goal to become (or at least complete in) a world champion in a certain sports endeavor. When I start competing professionally (July), I'll give updates that will hopefully inspire, or at the very least provide comic relief.

Ret

[GriffCo]

If you guys don't remember in Tim's example in the book he included a porsche or something.

Basically your first set up should include your dreams. IMHO if you already have a job your happy at I'd say make the 75k first and go fulfill your dream by then your muse should be good enough to live off of after that!

[mascij]

100k a month is very possible. I have friends I used to work with who licensed a product and are pulling in 220k a month between the two of them. Granted they're experts in their field and it's something they're adding to an already established enterprise. It's going to take a staff of people to pull something like that off, it's not a 1 man job.