Turning a Corner!

Hi everyone,

My first blog on WA!!!

So what to post? Well how about the story of how I got here, now I'm UK based so some terminology and how the UK handled the pandemic might be different to people based in other countries but you'll get the gist.

In January 2014 my families business closed and I was made redundant, out of work for the first time in my life and a business that had been part of my life for over 30 years was gone, I heard this news whilst on my honeymoon, not the best environment for life changing news and my family tried very hard to leave us to enjoy our break but some of our customers and suppliers didn't know we were away and we found out what had happened, within a day or so of it happening, so once we got home, and after the initial shock and upset, my father and two brothers worked in the business also, I accomplished the most pressing issue for me at the time and got a job.

I worked for a couple of businesses over the next few years, then in 2018 I was approached by a big customer who asked me to set up a business to service their account, now looking back I was naive but I'd known these people for years and had built up relationships with them, we discussed volumes, pricing and was told that although they couldn't produce an order for me at that time, when the contract was due to renew I would get the lions share of the business, so after much deliberation and 6 months of thinking and discussing I left my employment in late 2018 giving myself time to set up my business to coincide with the contract renewal, now I had other customers that supported me, but the boost and foundations for the business was the big contract, without the promise of that contract I would never have left my job. Now, I've never found out why but after visits and meetings I was eventually told that the offer of the contract had been withdrawn, with nothing in writing and only a gentlemens agreement my newly started business didn't last 12 months without that big contract, as such in business success and failure can be separated by the thinnest of lines, I just wish my luck would land on the right side of the line!!

So, once again I picked myself up and got another job, this was harder we'd lost everything and emotionally I was shattered but in late 2019 I was back in employment unfortunately after 4 months Covid hit and the company I worked for downsized during the first lockdown, having been furloughed for 8 months I was informed I'd be made redundant.

Now the world had changed, so to make the best of a bad situation I managed to get two part-time roles on a consultancy basis working for "long time friends within business" this has worked well one role allows me to still work within my "career" industry but I also work in a totally different industry and very much enjoy it.

What has brought me here though, is that I think, to develop a position of wealth so my family and I can enjoy the lifestyle I did all those years ago, when our family business was so successful, I need to build multiple income streams, and WA is one of the paths I've chosen to do that, rather than look at a single stream to earn a high income I want to develop several streams and earn reasonable achievable incomes from each, now don't get me wrong if WA turns out to be the golden goose I'm good with that too, flexibility is key.

The end game is to develop a number of passive income streams that will take me into retirement and beyond allowing me to work on the consultancy side when I want to but enjoy a more relaxed lifestyle that is recession proof and future proof.

Can it be done? Watch this space!!

Got an opinion? Let me know your thoughts.