The Best Business Advice I DIDN’T Take, And Now I’m Paying For It

Here is some of the best business advice I received that I didn’t take. I now see how valuable that advice was and it’s now something I am implementing in my life and my business.

0:00 – Introduction
0:30 – The Story Behind This Advice
0:56 – “When the money is good, take it for what it’s worth because the opportunities won’t always be there”
1:28 – When should I have taken that advice and why didn’t I take it?
3:46 – How I am implementing this advice moving forward
5:13 – So many people don’t take advantage of the opportunities in their life
5:50 – How Ben Everingham has taken this advice to grow his net worth
6:30 – I will take this advice moving forward

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Transcription:

Ryan 0:00
today i want to get a bit real with you and talk about

some of the best business advice i received that i didn’t take that i now see how valuable that advice was and how right this person was and something that i’m now implementing in my life and in my business moving forward and is not just applies to business but it can apply to your personal life as well even if you’re in a job so hey i’m ryan from onproperty helping you achieve financial freedom and this extremely valuable piece of advice was given to me by a business owner i used to be a pharmaceutical rep and he owned one of the pharmacies he was a young gun he was in his mid 20s i think super successful and i was leaving pharmaceutical industry to start my full time business and i asked him what advice he had he says i have this one piece of advice and he said to me when the money is good and when things are going good milk it for all it’s worth and go after that completely because it won’t always be that way and the money and the opportunities won’t always be around so i remember hearing that advice i remember it really stuck with me but i didn’t i didn’t listen to it like i didn’t do it and so it was something that when he said it i’m like that’s really interesting i’m going to take note of that i think that’s really fascinating but then when it came time for me to actually take that advice i didn’t take it so when should i have taken that advice was about three years ago i was 28 and my business was doing really well i was financially free through my business i had been creating lots of content for years i think i had about three or four years working my business to get it to that point and i was basically financially free through my businesses on low six figures and so things are going well but i got really disheartened i got really depressed at the time because i’m like okay i achieved my goals of financial freedom i’m not happy why am i not happy what is the point of this and so i then went on a self discovery journey over the next couple of years being financially free going okay how do i actually live a happy life whilst being financially free and so what that did was that took me away from my businesses at the time so i had a couple of businesses that were doing really well the markets for those were doing really well there wasn’t much competition either and so there was a huge opportunity to double down on that sort of stuff i had lots of extra cash flow in my life as well to reinvest in the businesses without taking on any debt as well and so things are just going well and at that time i should have and could have doubled down on it now looking back you can never say okay i totally regret that decision because i was in a place where i was depressed i struggled with eating disorders in the past so in terms of being mentally healthy is obviously something that is incredibly important to me moving forward and now living a life where i have stressors and i have money stressors that i wouldn’t have had if i hadn’t taken this business advice but at the time i don’t necessarily think i was in the headspace to be able to do that so i regret that i didn’t take the advice i wish i had been a different person back then when i was 28 i wish i knew what i knew now back then and could have done it but do i regret it look it’s hard to look back and to say okay i i regret this because coming now to a place when i’m in such a better space mentally about my life and i can move forward with strength is very important to me so it’s yeah it’s hard it’s hard to say okay do i regret it because i was just a different person back then and you know i didn’t know the decisions that i was making and where it would lead you you know how life works so moving forward this is definitely something that i’m implementing now things change for me dramatically throughout my life business i didn’t work on it much for a couple of years and are starting to get back into it i was in a really good headspace or science here back into it i was budgeting and i was starting to be like okay this is the new growth phase of my business and the new growth phase of my life and then things changed with a bunch of my different web properties and a bunch of different businesses it’s like okay the market got a lot harder in one of the businesses you know demand dropped off and another business it was like there was more competitors that had popped up in that space and that space just had huge potential that was just underutilized like there was just hardly any competitors in the space doing anything good and now there’s a whole bunch so i’m still working in the same businesses but it’s harder to make money now and so i am working hard i am growing it again but also going through you know a whole bunch of personal stuff last year has then put me in a situation where cash flow isn’t as good at the moment so i’ve got to work hard to try and grow my businesses without the extra cash flow that i had a few years ago where i could just easily go ahead and grow the businesses and reinvest into it so don’t have that anymore so yeah the best business advice that i got was when the going is good you know take advantage of that and i’m here on the sunshine coast at the offices of pumped on property and you hear about some of the client stories and people who have had strategy sessions and the situations that they’re in and a lot of people have had a lot of great opportunities throughout their life where they were earning big money but they just kind of pissed that money away and then use that money to actually strategically set up their life and to not necessarily doubled down on it because if you’re working in a job you might not be able to double down on it like i could have in the business but to then take that money live a good but frugal lifestyle and actually invest in properties and grow your portfolio whereas in crohn’s to contrast to that ben everingham who owns pumped on property and he is a buyer’s agent here throughout his journey he has constantly taken profits and i’ve seen him take profits to invest in property and has been really diligent with that in his life and so is now in a position in a great financial position with his portfolio that i wish i was in and so he’s taking that advice when things are going good he reinvested those profits into investing rather than i guess doing what i did which was to go on a very personal journey to discover my happiness and sacrificing wealth in that so yeah moving forward i am definitely going to take this business advice next time around that when things are going good which things are starting to get better for me at the moment when they’re going good go ahead and double down on that and so that’s what i’m doing at the moment is that i’m finding you know what’s working what’s going to give me the best return on investment where am i making you know silly money for the amount of effort i put in and i have some areas within my business that are a small portion of my income at the moment but i can earn silly money from them with very little work and so that’s the areas that i’m trying to focus on but it’s like i’ve got to build that up while maintaining my cash flow so i can continue to pay off my debt and stuff like that it’s a bit of a juggle at the moment but that’s what i’m trying to do i’m trying to take this business advice now and to use it to better my life and so i implore you to do the same whether you’d be running a business or if you have your own job when the going is good and take full advantage of that because things aren’t always going to be good so take full advantage of that but then set yourself up for the times when things aren’t going to be good so set yourself up with a buffer fund set yourself up invest while you can invest and while you can save money and have deposits and borrow money from the bank go ahead and invest in properties and invest in properties that are going to set you up for when those bad times will eventually come so when they do come it’ll be hard but you have these properties that are supporting you with cash flow or that you have a lot of equity in then you can liquidate if you had to but yeah there’s lots of cool things that you can do if you take advantage of it while the money is there so this is the best business advice i didn’t take i hope that you can take this and apply it to your life i wish you the absolute best in your financial freedom journey and until next time stay positive