What's in store for you?
A personal story: Business 101: How NOT To Do It
1. Level Up Your Career Game: The Benefits Of A Distance Learning Degree
2. Retire Early: The Difference Between Financial Independence and Financial Freedom
3. Travel The World: Champagne On The House
The stories I'll share in this and the upcoming newsletters pick up where my book, School Dropout, Chimney Sweep, Investment Banker:The Art of Pursuing Goals That Seem Unattainable at First Glance, ends. If you haven't had the chance to give it a read yet, grab a copy here!
Do you prefer listening? Listen to the podcast here: Spotify/FiresideFridays
Business 101: How NOT To Do It
I made all the mistakes you can think of...
If you've ever had an idea for a business, you probably know it too well.
I spent countless hours on insignificant things like coming up with a name, registering a web domain, designing a logo, and building a website.
Why in the world do you even need a website if you want to start a YouTube Channel?
Well, it seemed important to me back then.
None of these activities had a real impact, no client feedback, no testing of my idea, and you could always do these things later on or change them. In fact, you'll probably change them anyway.
Nevertheless, a few wasted hours later, I was ready to go.
The idea was simple. I would just do my trades as I did normally but record my screen. In a second step, I would do a voiceover and comment on my trade, explaining why I was doing what I did - easy.
Well, my first trade took me 4 hours.
I quickly realized that it's boring as hell to watch even with my voiceover. There just isn’t that much to say about a trade for four hours.
Who would watch a four-hour YouTube video watching red and green candles go up and down with a dude saying a few words every once in a while?
This led me to my next big mistake. I killed the project without even uploading one video.
This is Business 101 on how NOT to do it:
1) Having a (supposedly) great idea
2) Spending countless hours on things you don’t even need to begin with, e.g., Business Name, Website & Logo
3) Creating your first "product" without ever showing it to prospects
Who knows, maybe people would have loved boring trading videos...
You are curious what happened so far?
1. Level Up Your Career Game: The Benefits Of A Distance Learning Degree
Have you ever asked yourself how your life might look differently if you'd attended college?
What it's like to leave the working class and tackle the world's most challenging problems?
Wearing a tailored suit, dining in the finest restaurants, and exchanging thoughts with the brightest minds in the finance industry?
These were exactly the thoughts rushing through my mind at the very moment I thought I made it.
In my early 20s, with the chimney sweep master degree in my pocket, I was thinking: Done, I don't have to learn ever again, I can relax for the next 45 years. It was summer, and with that thought, I comfortably sank into my sunbed and closed my eyes. That thought, which initially felt so good, quickly began to make me nervous – 45 years, the same work, the same people, the same country. Deep down inside of me, I knew there had to be more. More success, more wealth, more freedom.
A few months later, I started studying Finance & Management at Euro-FH, a well-known German distance learning university. Earning my Bachelor's degree from a distance learning institute helped me to break into Wall Street, working for the most prestigious banks on the planet, and it can help you too.
I know what you might think:
I don't even have my A-levels, I won't be able to cope with the complex studying material.
Studying for three years of my life, I'm not sure if I can do this.
I'm not sure if I can afford the tuition and if it's even worth it.
You know what?
I failed miserably in math and dropped out of school but had straight A's in my financial mathematics courses.
I loved studying and three years will fly by when you're making progress every day, visit partner universities in foreign countries, and make life-long connections with fellow students.
And tuition for distance learning degrees is far cheaper and more flexible than for traditional universities.
What about the benefits?
You continue to build your career and income as you can stay employed full-time.
You are 100% flexible as you can plan your studies according to your needs and schedule.
You get inspired to apply the learned concepts at work and in your personal life immediately.
Pursuing a distance learning degree changed my life and chances are good it will change yours too.
You just have to take the first step.
For all the German-speaking readers out there, take the leap and register here: Euro-FH Finance & Management
PS: Are you looking to write your own success story within the banking industry?
I'm launching my NEW online program soon giving it all away for FREE (First 10 candidates only):
The Ultimate Banking Interview Blueprint For Career Changers - The Secret Sauce for Breaking into Wall Street with Limited Industry Experience and Without a Target University Degree.
SIGN-UP for the waitlist NOW and be the FIRST to get access as soon as it's available:
2. Retire Early: The Difference Between Financial Independence and Financial Freedom
What does financial freedom mean to you?
You better come up with a clear and concise answer to this question AND back it up with numbers.
Why?
Because 90% of the people out there have no idea what they want from life.
Without a clear goal, you'll blindly chase money and it will never be enough and when you're finally retired, you're probably too sick and tired to live your dreams.
Let's Imagine you can do both, become truly wealthy and enjoy life.
The key to achieving this is decoupling time from money by owning cash flow producing assets which will make money while you sleep. If you own enough cash flow producing assets to cover all the costs of your desired lifestyle, you are financially free.
Financial Freedom = passive (after tax) cash flow from assets - cost of desired lifestyle.
If that number is positive, you never have to work a single day in your life.
Financial independence is way easier to achieve.
The simplest form of it is to become independent from your job, at least for a certain amount of time. You can achieve this simply by building an emergency fund. Having 6 months or 12 months worth of your salary in your bank account.
How would you sleep at night if you know that no matter what, you can live a full year without any constraints even if you lose your job tomorrow?
What are you waiting for... start building your emergency fund today!
3. Travel The World: Champagne On The House
Let's keep it sweet, short, and simple today.
How about a free bottle of champagne for your next travel adventure?
Here is one of my favorite travel hacks:
Angelika and I love to travel on our anniversary. When I book our hotel for this date, I always mention that it's our anniversary and that I would appreciate it if they prepare some kind of surprise for her.
9 out of 10 times, we get a free bottle of champagne, plus a bathtub full of roses, and a room filled with candle lights or similar.
PS: It works even if you are not married yet - cheers!
Adventure Awaits,
Kevin Schwarzinger
Founder, ChimneyCapital
Author, World Explorer & Solopreneur
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