Ameya Profile picture
17 Sep, 23 tweets, 4 min read
I have been wanting to pen this down since a while. I think this is right moment. I achieved FI long ago but 2020/2021 played a crucial role in achieving that multiplier effect. I have surpassed my initial FI goal by 5fold already.
I don't own a home. I never took any loans, I don't have credit cards. Since my first job, I was focused on building passive income sources & I knew it is going to take time. I think finally I have reached a place where these sources can take care of my living very well.
I haven't been trading since some time as I focus more on professional side. I hold a concentrated PF, track few businesses, so i don't have many threads to write. I don't spend time knowing something abt everything. Rather, spend time to know everything about fewer things.
I don't want to be hooked up to terminal since I don't aspire to be fulltime trader. I love my job, it makes significant impact on cashflows of businesses I work for. It matter what I do & I don't hate my work.
I knew that building at least 5 passive income sources that can generate consistent income will take time, a decade perhaps. I am 36 now. But I started in my early-mid 20s. I will disclose some sources now.
I write for an international journal
Serve as a technical advisor to a publication house
I offer my technical advisory to some firms for their internal purpose
I have had a paid wordpress plugins on themeforest that bring in steady money
I do shopify consulting to a few local cos
I am also a contributing UX advisor to a fashion accessory startup in the US
I ghost write for some blogs
I did MF distribution business for 10y which I stopped but commission still flows in
I have built & sold off a few websites back when Page Rank used to be the thing
I was building IPL based game back in 2009 but it was legally shut down on BCCIs notice.

Not all of these are active all the time but at least 3-4 are active most of the times!
All these years I have lived with an entrepreneur's heart & mind. I have no shame to accept that I have had 3 failed startups. The last one was the one I left my high paying job for. But none worked for different reasons.
1st was a service called "mealwala[dot]com" which was sort of a pre-swiggy/pre-zomato ideation. I built the website/app but the partner who was funding this left to pursue other opportunities. This was in 2007
2nd was a small charting software that I was building with 4-5 friends. Too many cooks spoil the broth. Didn't turn up well either. Again, partnership issues.
This was in 2011
The last one is pretty recent. I left my high paying job for it. Didn't take a dime from company's income for 2y, scaled up & won some amazing international logos. I was leading tech & product development as a co-founder
This one was pretty serious since we grew tremendously in 2y, got a buy out offer in the 1st yr itself from a US based investor. From sweeping floors to wearing suits & presenting product to CXOs, we did everything.
Built a super amazing team of developers, were midst of demoing to top listed companies in India & again fall out happened. Partner wanted to grow the company into a service provider since it was easy money, I wanted to build a SaaS platform.
Depleted of all savings other than some equity investments, I started consulting again. The message to folks is - don't trade off higher ambitions for markets. Build multiple skills, additional proficiencies, passive income sources. Bull run isn't forever.
Try to design, build, ideate, write, speak, present, sell, learn to code for fun, but don't overlook other sides of life for markets. Markets are forever. There was a time in my 20s when I wanted to be fulltime trader/investor too.
Today, I have both skills & capital to be fulltime trader/investor but I have realized that's for some later time. Not now.
Building something of your own has to be for a right reason. Being fulltime trader/investor too has to be for right reasons. If only reason you can give is - I want to be my own boss, then you are not ready yet! You need better thinking.
Network! Network! Network! I cannot emphasize how important this is. Regardless in market or startup space, you need to connect with right people. People who are better than you, people who will keep pushing you to do better.
I am no expert on this topic but I know that there is more to life than markets! Never settle, never look to retire, the FIRE narrative is a sham. Stay relevant, and make market as one of the income sources.
Retrospecting, I see more failures than success. But that builds your character, will, and mettle. If there is ever something you have been wanting to do, just do it. I will build something in parallel & jump in once it is making money is a sham! Mostly, never works out.
If you have no liability, you are in 20s or even 30s, take risks, take a leap of faith, don't get stereotyped. I am writing this with only one intent. I see tremendous time drain on Twitter/WA on the name of market. Endless, meaningless chatter. Content is endless, time isn't
Last point - there are exceptions to everything. Don't take my word for anything. It is just my own journey/experience & yours can be very different. Try to get the gist. Tschüs!

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Ameya

Ameya Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Finstor85

22 Aug
A thread of now tech is changing gears in banking & financial domain.

The banking is undergoing a tremendous change with the adoption of the technology. The business that's mainly run by legacy systems is now digitally transforming.
However, there is a catch. There are companies that offer digital transformation solutions to the legacy systems. Companies such as #IntellectDesign

Then there are digitally native banks such as #Kakaobank that's fully digital since inception.
In fact, #kakaobank was build based on "technology to process" approach. While traditional banks struggle with "process to technology".
Read 17 tweets
20 Aug
Some very important, intangible, topics that investors rarely see.

1. Making money is secondary to ensuring you don't bleed out on drawdown phases.
2. If you get pushed down 30-40% in every phase from the cost, it means roughly you get pushed 12-18 months on your financial independence goal. If you get pushed like this often, you won't even realize when goalpost moved from 45y to 55y on your financial independence graph
3. Nobody knows market peak. Important is to look at your PF & ask - am I playing Sehwag when I have to draw the test, or am I playing Dravid/Pujara.
Read 7 tweets
12 Aug
Time to learn something new. Let's understand SaaS/Cloud Product valuation metrics, what matter most & what means what. Here it goes.
Churn Rate: A % of customers you are churning. Tracked both monthly & annually. A 5% churn rate means you are losing about 50% of your total customers every year, while new ones are coming in.
A churn rate of 2% is common & but close to 0 is ideal. Anything more than 3% is no good & will burn capital. Create product-market mismatch quiet often.
Read 19 tweets
22 Jul
Let's try to understand why technology product companies have historically been non-sequential in QoQ growth. Some call it cyclicality, some called it nature of the business. I will try to clarify a few things in this thread.
To understand this, you have to look at how software as evolved over last decade or two. We have moved on from bulky software that needed on-premise installations to cloud today. Naturally, revenue realization practices have changed too.
Historically, license sell for a large bulky on-prem software used to result in non-sequential growth for technology product companies. Revenue realization used to be jerky. One Q will have huge revenue, while other could be poor.
Read 20 tweets
20 Jul
Use of AI to predict trends isn't really new. However, many still question on how realistic AI can model the trend. Well, it depends on the algo of course. But something came up in my reading & I was intrigued to dig deeper! It is about #SHEIN
Ask any female if they have heard about an app called Shine, and the answer will be an instantaneous yes. The app has taken fashion world by storm & the infatuation is simply explosive. To be honest, I too know Shein, well of course, for obvious reasons 😄
Shein in some numbers:
* Accounts for 28% of the US fast fashion sales
* Revenue has grown 100% each year since last 8 years
* Outpaced H&M, Zara & many more big brands
*Design to production time is just 3 days!
* Adds 1000s of inexpensive SKUs daily!
* Daily app download 650k
Read 23 tweets
15 Jul
A lot of you requested me to post a thread on #LTTS. I did not find time, neither had motivation to do since it is a complex business to cover via something like Twitter thread or even a newsletter. Here I am posting only some abridged views.
I hold Both #LTI & #LTTS from IPO. I am an ex-LT/LTI so have a bit of sneak peak into company as well. Last 2+ years have been terribly bad for LTTS. Not because they did something wrong, but because of external factors.
ER&D space is a bit different than traditional IT. The revenue realization cycles are longer. Contracts are stickier but hard to come by as well. Unlike IT, ER&D is close to sectoral automation at frontline. IT plays role via software, but ER&D is much close to real automation
Read 25 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

:(