I hope all of you enjoyed this week’s episode! Ali provided some really good information and insight and I wanted to outline some of the key points that I took away from the episode in case you all missed some of them.
The main point from the episode I took away was continuing to chase after what you want to do. As the episode progressed, we know that Ali worked a few jobs that added skills into her skill set and as she was working those jobs, she was networking to build her connections which eventually lead to building her company Getaway, she was learning skills to take with her to run her company, and most importantly she was chipping away at her exit plan to run her business full time by disconnecting from the corporate world and transitioning to entrepreneurship.
The next point to drive home was what Ali’s business is about which is real estate investment. I think it’s important to outline the difference between a timeshare and Ali’s business. A timeshare as defined by Fontinelle (2022) is a lifetime commitment payed to one resort or resorts within the family to use for a designated period of time.Some key things to know are there is no money coming back to the person who purchased, the person who purchases the share usually pays fees yearly, and in the beginning there is usually a lump some paid to obtain a deed of ownership for that share for the week or multiple weeks within that year. Ali has evolved and changed that model by investing in different properties inviting her customers to invest whatever amount they can afford and then paying the customer a certain percentage back on the profits while allowing that customer to use the properties for travel. The way i see it, Ali’s model allows for her customers to easily invest in real estate while making money. Again as I always say to all of you, DO YOUR RESEARCH!!!!
The last and most important key concept i took away was perseverance. Before I define perseverance, let me note a question that came up in this episode which was time put in as an entrepreneur. A common misconception that we all see in the entrepreneurial journey is that owning your own business affords the individuals more time. Eventually this can be true, but as Ali brought up and as I know, there is more hours and time put into owning your own business to drive its success and time can be limited for a while before the business gets to the stage where we are able to get more time back. The Merrimack-Webster dictionary defines perseverance as continued effort to do or achieve something despite difficulties, failure, or opposition. This is such an important concept as most businesses that fail usually do because of lack of research, resources, and the ability to keep going through hard times. It ids very true that if a business keeps pushing forward through the years and doing the right things, usually that business is more likely to succeed.
I hope this week’s episode was not only insightful, but gave my listeners the ability to take a look at another investment strategy to diversify and make smart investment decisions.
Cheers!
Dustin
References:
Fontinelle, A. (2022, November 11). What is a timeshare? Forbes. Retrieved January 26, 2023, from https://www.forbes.com/advisor/mortgages/what-is-a-timeshare/
Merriam-Webster. (n.d.). Perseverance definition & meaning. Merriam-Webster. Retrieved January 26, 2023, from https://www.merriam-webster.com/dictionary/perseverance
