In today’s episode, Jeff interviews Michael Quan, blogger of the Financial Alert website in San Diego. Michael shares how he started working for a technology company during the dotcom boom. And how it was his knowledge as a computer gamer that got him the job. While working in the technology industry he learned a lot about infrastructure. After 9-11 he started his own IT Consulting business with some friends using what he had learned. Ten years of hard work led to his business being very successful and eventually giving him his freedom day.
Michael and Jeff discuss:
- Went to college and wasn't sure what he wanted to do; chose Economics.
- During the DotCom boom went to work for a tech company (San Diego); got the job because he was a computer gamer; knew how to take them apart, put them back together and make the network faster.
- Worked at the tech company for a year and a half and learned how a company worked.
- After 9-11 happened the tech company started laying people off.
- Michael didn't want to wait until his name was on the list so he decided to exit and with some friends started an IT Consulting Business.
- Started with 2 clients and over time gained more clients through different connections and became profitable over the next 10 years.
- Scaled the business and then sold it; freedom day at age 36
- Doing now: Website/Blog - Financially Alert and Podcast - Breakthrough Millionaire
- New: Wrote a book - The F.I.R.E. planner: A Step-by-Step Workbook to Reach Your Full Financial Potential
Fast Five Questions
- If you woke up and your business was gone, you have $500, a laptop, a place to live, and food, what would you do first? “Pick up the phone and call who I know. It's not about what you know but who you know.”
- What is the biggest mistake that you have made in business? “A complicated salary structure; keep it simple.”
- What is a book that you would recommend? “(1) The F.I.R.E. planner: A Step-by-Step Workbook to Reach Your Full Financial Potential by Michael Quan. (2) Sam Dogen's book Buy This, Not That: How to Spend Your Way to Wealth and Freedom and (3) Mastering the Rockefeller Habits: What You Must Do to Increase the Value of Your Growing Firm by Verne Harnish.”
- What is a tool that you use everyday that you would recommend? “Trello; helps me organize my list.”
- What is the best way to contact you? “Website: financiallyalert.com (use the form or contact me); Email: michael@financiallyalert.com; Podcast: Breakthrough Millionaire.”
Jeff spent the early part of his career working for others. Jeff had started 5 businesses that failed before he had his first success. Since that time he has learned the principles of a successful business and has been able to build and grow multiple seven-figure businesses. Jeff lives in the Austin area and is actively working in his community and supporting the growth of small businesses. He is a board member of the Incubator.Edu program at Vista Ridge High School and is on the board of directors of the Leander Educational Excellence Foundation
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