• 03:02:16 am on November 28, 2008 | 7
    Tags: , , , , , , , ,

    You cant get there from here

    Photo credit: Duckscrossing

    You can’t get there from here …

    No, Lee, Ryan didn’t go AWOL … just slipped into the ‘think tank’ for a little longer than expected 😉

    Ryan explains what this means in his opening, but with this photo, I was as keen as you to find out! He knows that he has a big task ahead of him, and I will say that developing/selling some intellectual property (be it via a unique business model, invention, process, or whatever) WILL be his path to success, because it’s the only one likely to give him the ‘home run’ he needs, given that Ryan’s annual compound growth rate is well into ‘boom or bust’ territory …

    _______________________________

    “You can’t get there from here.” This New England saying never made sense to me until I came up with my number! Can one get from 100K net worth to 16 million in under 9 years?!?! There is certainly no road map to go from, but there is no doubt it can be done.

    Short of winning the lottery or getting a huge inheritance from some long lost uncle, it’s going to take a lot of planning, hard work, and a little luck. Fortunately for me (and the others following the 7m7y experiment), luck favors the prepared mind. Without getting too philosophical, basically what I’m saying is that if you want a million bucks (or a billion for that matter), it’s not likely it will fall on your lap without any effort from you. However, if you’ve set goals, come up with your number, researched, planned, put the hours in, and made it a priority, is it still luck when your an “overnight success”?

    That is why the 7 MITs are putting up these posts showing how we think our journey might look to get to the destinations that we’ve dedicated the last few months defining. We all now know where we are right now. Those who have completed THE TASKS on 7m7y.com now know where they need to get to. And now we just have the MINOR chore of filling in the in between stuff.

    My “in between stuff” will HAVE TO include starting my own business because my compound growth rate is 85% (see Scott’s post for a great explanation of this). Starting a saleable business is something I’ve always wanted to do anyway. Actually, I already own my own company, but as a medical device distributor it is unlikely that I would be able to sell it for the type of return I need to reach my goal of 16 million, so I don’t really consider it saleable.

    I also want to develop some Intellectual Property. I’m in the operating room every day, so I constantly try to be aware of inefficiencies, improvements and things that are lacking. My business may start from some IP that I develop or I may just sell it after it’s patented.

    Lastly, I believe my road map will also include, to a smaller degree, stocks and real estate.

    So, I’ve chosen my vehicles, packed my bags, and I’m ready for this trip to start. Did anybody bring the GPS navigation?

     

Comments

  • Josh 12:58 pm on November 28, 2008 | #

    Hey Ryan, just wondering why your distribution business can’t be sold?

  • Ryan 1:00 am on November 29, 2008 | #

    @ Josh – It likely could be sold at some point in the future, but because my contracts to distribute (while they are exclusive) are for a fixed time(a year or two) and not guaranteed to renew, and my employees are 1099 contractors, it would not yield the type of return I need for my goal.

  • Diane 12:54 pm on November 29, 2008 | #

    Ryan, from what I’ve seen of GPS navigation, you’d be well off taking a poll of those who’ve gone before rather than the superficial idea of how to get there…from a source that doesn’t quite know which roads are best avoided at what times and which roads will take you an hour out of your way unnecessarily (huh? Why did the GPS tell you to go that way?!??) One thing that it might be good for is telling you when to make a legal U-turn at the next available spot…seems that is something few of us get right but could benefit from knowing!

    What are you doing in the Operating Room every day – what kind of operations?

  • AJC 4:26 pm on November 29, 2008 | #

    @ Diane – We love GPS: when we first arrived in Chicago, we put a GPS in each of our cars (it was the first time we owned GPS-equipped cars) … it immediately allowed us to get around in a strange city. Fantastic!

    My wife even named her GPS ‘Candy’, because it was a ‘Life Saver’ … get it???!!! 😛

    But, a GPS is only an algorithm, so it may not know the ‘ideal’ way to get there … it may take you down a freeway, when a local road is actually faster, etc.

    That’s like this program: my blog is a GPS, but YOU are smarter than that … when it comes to the important choices, we (me and the 7m7y Community) will help you identify the major forks in the road … but, YOU will need to make the final decisions …

    … for better, or for worse as Fate dictates 🙂

  • Diane 6:11 pm on November 30, 2008 | #

    @ AJC – I think for a city where it sticks you with the major roads, it should be okay. But when one is crossing the US and it sends you down the wrong roads, I have major heartburn with it. I also don’t like MapQuest and prefer Yahoo, but lately have had trouble with Yahoo’s choices (tho it is easier to manipulate some of the choices by giving it a different interim point to navigate through, thereby fixing some of its inanities (?))…Good analogy re us finding our own path using others as the GPS here.

  • Ryan 6:58 pm on November 30, 2008 | #

    @ Diane – I am in the OR for spine surgeries (fusions, artificial discs, etc.

  • Lee 8:35 pm on November 30, 2008 | #

    Here I go showing my age again. When I travel and get lost, I just stop a “Cop” and ask for directions, Which is better than having them stop me cause I’m going the wrong direction:)


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