After a quick chat with my brother this morning I may be a little closer to having an idea.
All my ideas get categorised into one of the following categories:
- Freelancing (aka selling my time in exchange for money)
- Business – Selling Something Physical (Online)
- Business – B2B SaaS
- Business – B2C “Unicorn” SaaS (has to be a unicorn idea or not worth doing for money)
- Business – Other Service
This idea comes under “Business – Other Service.” What I like about it is that I will have to work closely with my father, but also I like that it starts as borderline-freelancing but has the potential to be built out into an entire business. It also has a fairly high barrier to entry, so once I do the initial hard work it’s done and should give me a moat from competitors.
Next step for this is to speak with my father about the plan, and start looking into what SaaS/COTS solutions are available. Also to see whether there are any existing companies doing what I plan to do.
I’ve done a few jobs that fall under “Freelancing” already. Mainly labouring, but good to get a little money in the kitty and have my wife see me working.
Another point that came from the conversation with my brother this morning is that I really need to have a word with my sister. She is knee-deep working with the kind of businesses I will either become or interface with every day. The thing is, I can’t just turn up unprepared and say “Give me all your knowledge!!”
But that’s ok. A lot hinges on me gathering, filtering and sorting all the ideas and so forth that I have put together over the last two years since we first made the decision to come to Australia. This is a mammoth task and one I need to tackle soon anyway. It will also help me organise my thoughts and allow me to have a similar conversation with my
I have been spending a lot of time reading about investing. Currently I’m in a few different camps. I started with a modified version of Permanent Portfolio because I was scared of the market crashing the day after I dumped it all in a global index ETF. I planned for my re-entrance meticulously but there are a couple of things I could have done better, although it shouldn’t matter too much if I fix them or not. Then I decided to take the Aussie Stocks component and going forward pick individual stocks. So I’ve been spending a disproportionate amount of time reading up on fundamental investing, and I need to stop. I already know what my strategy will be, but I don’t think I’ll be making any changes before October anyway. “Sir, step away from the book.”
A highlight of my day today was my wife answering the phone in English! While this is well within her ability I think it is a big step because I was in the house at the time, and it would have been easier for her to leave the phone for me to answer. Very proud of my girl today*.
In other news I reached out to a couple of friends, and will probably meet one of them tomorrow after another labouring gig.
Summing up my goals for the next few days:
- Write a reference for a friend to use as evidence that his marriage is accepted socially (his Japanese wife is applying for a visa)
- Reach out to my other friend and organise a catch-up
- Find a gym that has everything I need and reasonable casual rates. I think one mega-workout every 1-2 weeks will be enough for me
- Organise my ideas!
If I can get through this I’ll reward myself with one or two chapters on investing.
* It ended up being a sales call so she just hung up. But I’m still proud of her haha (and I have since registered the number on the Do Not Call registry)