This is a topic I am very interested in and have had many discussions to whether someone who utilises free information can be just as successful, if not better than someone who pays thousands on education, training and courses.
The reason I wanted to write about this subject is to hopefully gather some insight from what other people have experienced from paying X amount of thousands pounds on a course, to someone who has not paid out any large sums of money apart from the minimal payment of an audio book and possibly a £20 entry for a seminar here and there.
6 years ago I began self educating myself and learning everything I could to do with property/business and investing. I had no idea what I should be focusing my time on nor the specific areas that would suit me when going forward into property or investing. So I decided that I would look into self development, property, business books and general investigating/research about successful individuals who became wealthy in and outside of business.
Then low and behold at the top of the list of all the above criteria was... "Rich Dad, Poor Dad", the most mentioned start up book for all entrepreneurs (in my opinion).
Rich Dad, Poor Dad truly was an inspirational book for a general understanding of property, investments, business and being smart with money. This audio book was to propel me into my low cost self educating journey to eventually go full time into property/investing and become an active investor. (Still on this exciting journey and hoping to be a full time arm chair investor by 30, another 3 years)
I want to give you a visual understanding of how much I have roughly spent and saved to compared to someone who has potentially spent thousands, but may be slightly further behind on their journey. The point of comparing the two is to show you and offer an alternative thought process, that it is not necessary to buy into these so called discounted £3000+ courses, which in return claim to make you a millionaire/financially free within12 months.
For me it really comes down to the type of person you are and how determined, driven, motivated, consistent and have a BIG enough reason to become successful e.g your children.
Cheap and free resources which allow you to learn just as much as the £20,000+ 12 month course:
Audible - This has personally been a game changer for myself and fits perfectly into my life style and daily routine. The reason I love this platform, is it allows you to continuously learn and develop whilst on the move: when traveling to work, working out at the gym, business commuting! The audible platform also gives you the option to listen on multiple speed choices, 1, 1.25, 1.5 speed etc... therefore increasing the speed of your learning.
On Audible to date (forever increasing weekly) I have listened to 21 days, 17 hours and 10 minutes and classed as a master in reading. The knowledge I have gained from listening to these books has put me in a great position to feel confident enough to take on property projects, commit joint venture investments, decide quickly on business proposals and purchase strong stocks&shares. Whereas before I gained this knowledge I would have passed up on opportunities or felt out of my depth due to a lack of knowledge. I believe the time spent and small costs in subscribing to Audible has saved me thousands, compared to those who have paid £1000's for this knowledge. Please also bare in mind that these paid courses are shared with a classroom full of people where everyone will require their own individual time from the mentor.
"Listen, read and learn from those who have done what you want to do, made the mistakes for you and have created a blue print for you to learn and follow!"
Webinars - Webinars are a priceless source of information and not to be underestimated! I first began attending webinars at the beginning of 2017 and I have learned so much from the comfort of my own home/office. It still shocks me today that the majority of webinars are completely free, as it is the same as paying for 1 on 1 mentorship with the individual who specialises in that particular sector and likely the one you want to become successful in.
Since 2017 I have attended roughly 100-150 webinars and on average attend 1 a week, which most are held in the evening allowing you to finish your work, get ready and take notes. Take full advantage of the chat page on webinars and ask all questions you would if that mentor/individual hosting the webinar was charging you £600 a day for 1 on 1 training.
Podcasts - Listening to specific interviews which discuss relevant topics of the industry you want to get into. Podcasts have been a key element to my fast track learning because it has allowed me to learn whilst on the move (time leverage) just like the audio books.
The unique thing about podcasts is that the host is normally heavily involved in the industry you are trying to be get into and they invite other successful individuals onto their show, in order to ask and answer all the questions you as the listener have always been wondering. It is the realism of a podcast that allows everyone to relate to that certain someone and how their journey began. As the listener it should also provide great inspiration to hear that the individual you are listening to, also started from the bottom and worked they way up and it is possible. Any questions I have not had chance to ask a mentor or professional, I have always found the answer in a podcast.
Eventbrite/Seminars - The application eventbrite which can be downloaded on all smart phones, has been created to showcase local events, gatherings and seminars on all different topics and areas of business etc... You can filter this app for the specific sector you are in, e.g myself, property and investing. Once filtered you can search for local events that are being held in your area.
Since using this app I have attended more than 20 free entry events in property/business/seminars, which have allowed me to meet JV investors, mentors, gain valuable knowledge and build a very strong contact base. The bonus of all of this, it was for FREE! Please take the time to download the app and search for the events that will suit you. Granted there have been events I have paid for however these have been minimal payments, the lowest being £5 and the maximum was £25.
Monthly Subscriptions - Audible, Property networking and Business networking. I have invested a small amount of money into several monthly subscriptions which are minimal in the grand scheme of things however the knowledge I gain far out ways the costs. I believe this small amount I am investing in myself will see a far greater return, rather than a huge payout for a 12 month course. Total monthly outgoings are around £32.00 per month on self education - I personally would say I consume more detailed, factual, in depth information by my small subscriptions and leg work attending specific events, than I would from purchasing a 3 month intensive course for £3,000+ in a room of 30 people taking up equal amounts of time within the 2-3 hour sessions. GO IT ON YOUR OWN.
Books - Books to me are the bread and butter of learning, it does not get more black and white when wanting to learn about a subject. Personally I have never been a big reader as I prefer to be hands on or learning on the job. However since I realised that entrepreneurship in property and investing was going to be my goal and full time venture, I have grown to love everything about the self development process and aiming to become a professional/expert in my particular field (still on that journey and continuing to develop/learn). GET READING and set yourself a that target of the amount of books you will read each year and ensure you meet that target!
Networking - Networking has been the key to building the contact base I have today. I was told time and time again talk about what you do, what would you like to do and your future goals. Networking is one of the most important parts of your development journey and achieving your goals. I have made it my mission to regularly network at least twice a month. By networking with the right people it will allow new partnerships and business ventures to form, meet like minded individuals who have similar interests and goals. My advice is build your contact base and believe the saying, your net-worth is your network! You never know who can help you along your journey. Networking can again be free or at a very small cost.
Social Media/The Internet/YouTube - Social media, YouTube and the internet will hold all the answers you will ever need. It seems to be that if you have a question there is someone before you that has already asked it! Therefore open google and get searching for your answers, its free. Social media platforms are again free and have the widest contact base of people allowing you to connect with anyone, anywhere and in any industry. YouTube, one of my biggest learning points has been YouTube which has allowed me to physically watch others do what I want to do whilst explaining it step by step whilst I watch from the treadmill? Use these resources there free!
The points I am writing about above are purely my opinion that you can learn just as quick as the individual who pays X amount for the fast track courses. Do not get me wrong I am sure that tailored courses hold valuable information and the people you meet could also propel your journey ahead, whilst too creating amazing partnerships.
However from my experience I have gained so much knowledge from the resources above and at times have been involved in conversations with people who have paid up to £26,000+ on courses and they still seem unsure of what they are doing, where they are going and ultimately not a great understanding of their subject (naturally the individual has to fully apply themselves to benefit, of course).
The key part to all of this is the individual who commits their time, effort and shows consistency in wanting to learn whether that be low cost self teaching or £1000+ courses, either way both will offer you a good foundation in your industry.
Be great to hear you thoughts on whether you feel paid education is preferable over using low costs and free resources?
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