The Level Up Podcast w/ Paul Alex - The Cost Of Opportunity - Making Informed Choices

Episode Date: June 7, 2024

Podcast Episode Description: Understanding the Cost of Opportunity for Personal and Professional GrowthWelcome to today's episode, where we delve into a concept vital for anyone seeking growth in life and business: the cost of opportunity. We'll explore what you stand to gain—and what you might have to sacrifice—when pursuing new ventures or changes in your career and personal life. Whether you're starting a side hustle, investing in stocks, or relocating to a new city, every decision has potential trade-offs.Join me as I share my journey from a career in law enforcement to becoming a successful entrepreneur, generating over $30 million in revenue and leading a team of over 90 employees. Discover how I transitioned from the security of a stable job to the dynamic world of digital marketing, making strategic moves like relocating from California to Florida to optimize my business growth and personal wealth.“Your Network is your NETWORTH!”Make sure to add me on all SOCIAL MEDIA PLATFORMS:Instagram: https://jo.my/paulalex2024Facebook: https://jo.my/fbpaulalex2024Youtube: https://jo.my/ytpaulalex2024Linkedin: https://jo.my/inpaulalex2024Looking for a secondary source of income or want to become an entrepreneur?Check out one of my companies below to see if we can help you:www.ATMTogether.comwww.Merchantautomation.comFREE Copy of my book “Blue to Digital Gold - The New American Dream”www.officialPaulAlex.comLeave a review, like and share to help others and let’s level up together!

Welcome to the Level Up Podcast. I'm your host, Paul Alex. I went from being a cop to an eight-figure entrepreneur that helps average people like you and me make money every single day. I created this podcast to help you get motivated and to crush your goals. Let's win together.

Remember, I have your six. Get ready to level up right now. All right, today we're gonna dive into a concept that's crucial for anyone looking to grow in life and in business. The cost of opportunity. It's about understanding what you can gain, but also what you might give up when you pursue in law enforcement or investing in stocks or even moving to a new city, every choice you make has a potential trade-off, guys. All right. So a little summary on my past six years. Towards the end of my law enforcement career, I decided to start a simple side hustle, which then transitioned into me being able to

become financially free from my side hustle, which was ATMs. A lot of people online know me as the ATM guy, which is fine, guys. That was my humble beginnings. But I ended up becoming an expert digital marketer within the past three years, which actually have generated over $30 million across all my organizations. We now have over 90 employees. I got, man, I could say I got like two masters. I got like six bachelors. And what I'm talking about, I'm not talking about me getting certificates. I'm talking about that's the amount of employees that actually have degrees that work for me. As funny as that sounds, right?

But at the end of the day, guys, yeah, it all started with a simple side hustle. So that was the trade-off. It was putting in the work every single day, every single week, even though I had a full-on job, I had a full-on career. I took the weekends to go ahead and build this career. Same thing with my digital marketing organizations. I went ahead and I took the time and I missed out on a lot of sleep, but it was sacrifices for a short-term change in my life where essentially now my life is completely different. I was able to not only move from the San Francisco Bay Area, I moved to San Diego for two years, which, you know, new environment,

new people, it's the level up. So I went to San Diego, leveled up, became a multi-millionaire within digital marketing when I was just a millionaire in law enforcement. And then from there, I was like, you know what? Uncle Sam and the state of California is taking too much state income taxes. And I got to go and, you know, save that yearly so I could go ahead and invest more into real estate and then also to take care of my family, right? Because check this out, guys. A lot of people, they like to talk shit and say, hey, so, I mean, if you're balling, why do you move from California? Guys, it's common sense. Look, if you're making a good amount of money, okay, and you got a state that's going to charge you $400,000 a year in state income tax, does it make sense for you to stay there? Especially when the politics is fucked up and not to get into politics, but when politics are all messed up and they got, man, just the environment's crazy, right?

And trust me, I was a law enforcement officer there, so I know personally. But at the end of the day, guys, when it comes down to, it's about leveling up and making informed choices to make sure that you're going in the right direction. And the move for me from San Diego, California to Miami, Florida was the right move. Why?

Because as soon as I landed here, number one, I was uncomfortable. Number two, I didn't know nobody. Number three, I was here to focus and I'm still here to focus. But check this out. I was able to grow two more companies and now we're able to expand. And now there's a lot more opportunities out here because at the end of the day, your network is your net worth. So you got to go where there's successful people at. And guess what? This is the reason why Jeff Bezos is in Florida. This is the reason why Elon Musk, this is the right BlackRock. This is the reason why Microsoft, they all move their corporations over here. Why? Because it's basically Los Angeles, but like 10, 15 years ago when it was

booming, right? Now you got 10 city over there. So at the end of the day, Miami is where it's at. All right. But this is just to give you an example of where I'm going with this. So let's break down when we talk about the cost of opportunity, we're essentially considering what we must forego when we choose one option over another. So for instance, if you decide to invest some money into starting a new business, just like I did, you might give up the security of a steady paycheck or the chance to invest that money elsewhere. Right. And for a lot of people, they can't make that decision because we have been groomed our entire life since we were kids to save, save, save, save, save. So then eventually the time that we're like six years old we're retired we're able to have a nice little paycheck every month and we could go ahead and have mojitos on the beach right but now we're old

and wrinkly can you really enjoy life like that can you go ahead and buy that ferrari that you want at that age guys even at the age of 30 something right now i'm 36 but even when i was like 32 and i had bought my first like a supercar, right? My McLaren, dude, it was already giving me back problems. So just imagine if I was 60 and about the McLaren, dude, I wouldn't even be able to get crouched down to go ahead and send the McLaren. That doesn't make any sense. So I want to enjoy stuff now. And if you're in your twenties, even, even if you're 18, I mean, you got to make the moves. What is the worst case scenario that's going to happen to you that you fail and then you go back to working to a nine to five? You were going to work a nine to five anyways. It don't fucking matter. So at the end of the day, just take the risk, right? Take the risk while you're either single or you have a spouse before you have the kids and all that jazz like like i'm i'm gonna be a dad you know uh by next year guys i'm gonna be a dad by next year guaranteed right so so when i have my my son or my daughter over here talking to you guys on the pod you guys are gonna see you know i'm gonna groom them to be able to make the

decisions that are gonna be the best for their life okay whether it's going against the grain but also it's about the level up guys you You have to level up every single year. Do not stay comfortable. So during my transition from law enforcement to entrepreneurship, I faced a significant decision to continue my career, which offers security, a clear path, benefits. And I mean, my parents were extremely proud that I was a award-winning detective, guys. I mean, they're extremely proud. But here's the thing. The cost of pursuing my entrepreneurial dream was giving up a stable job and a predictable income, okay? It was not an easy decision. And it's not an easy decision for no one. And it involved calculating not just financial costs, but personal and emotional ones as well. So as you guys know, we're going to have naysayers in our lives, you know, throughout our lives when we start young until we're old, right? And one of the naysayers initially, and I love her to death, is my mother. When I had told her, look, mom, I want to leave law enforcement to go pursue this crazy dream of building an ATM business.

And then now that I have a sustainable income from that, now I think that, you know, I could go on the online space and actually teach people how to build sustainable businesses as well. She was just like, eres loco. She was like, dude, you're crazy. And I was just like, no, mom, I'm just, you know, I'm not content. I want more in life, right? I want to be my own boss. I want to schedule my own schedule. I want to travel the world, you know, and'm not content. I want more in life, right? I want to be my own boss. I want to schedule my own schedule. I want to travel the world, you know, and all that jazz.

And I was already a world traveler in my 20s, guys. But at the end of the day, I wanted to travel more. And she was just like, no, but benefits. Benefits. You're not going to have a steady paycheck. But what if this doesn't work out? What are you going to do? Right?

So she was just worried, you know, like every mother should be. But for a majority of people, this is the reason why we don't take the risk, why we don't make that first jump, which the first jump is the initial start to entrepreneurship, but it's also the hardest. Okay. So to navigate through these decisions effectively, start by clearly defining your goals and priorities. What is important to you in the long run? Okay. Is it security? Is it potential wealth? Is it passion for your work, personal time, or is it the people you work with? Okay. List these priorities as they will guide you through your decision making process. So this is exactly what I did, guys. I took a piece of paper. Actually, I had a whiteboard and bullet points. I literally wrote

what was most important for me. And for me, it was becoming wealthy first. Okay. The reason why, because I had a strong why, and I wanted to go ahead and actually help my family become financially free, which I was able to do. The second thing that was important to me was the passion for the work. Okay. Because in the beginning, you know, there is that saying, like, you have to be passionate for what you do, but necessarily when you're starting from humble beginnings, and let's say you don't got that money to go ahead and actually chase that job or chase that actual business that you want to build because it's a passion for you. You got to do what you got to do first. Right. So essentially, I mean, for me to say I was extremely passionate about ATMs. I mean that. Come on, guys. It's ATMs. I mean, come on, guys.

It's ATMs, dude. It's a simple, boring business that works. At the end of the day, was I extremely passionate about it? No, but I knew it would make my money work for me. I knew the plan was to make me financially free, and that's what I did. Okay? So I leveraged that, and then I got into digital marketing. And then did I say digital marketing?

Was I super passionate about it? Was I super passionate about being a techie and writing a copy, which is like the advertising and the marketing and all that jazz? No, I'm not super passionate about it. Am I passionate about helping others? Yes, I am. I'm extremely passionate about helping others. I'm extremely passionate when somebody says, Paul, you changed my life.

Thank you. That's the best feeling in the world. It takes me back to when I was in law enforcement, guys, and this is why I do this, right? So at the end of the day, you got to go ahead and set a plan to go ahead and eventually get to the point where you can go ahead and do your passion project. You can go ahead and do what you want in life. That's what it's about, guys. Life is short. So it's also vital to seek advice and perspectives from others who have been in your shoes. Okay. And I'm not talking about going ahead and talking to your best friend that hasn't

accomplished shit in life. I'm not talking about going ahead and asking your brother or sister that hasn't accomplished shit in your life. If you are the breadwinner, if you are the A-type personality like me, and you're assertive, and you'rewinner, if you are the A-type personality like me, and you're assertive, and you're going places and you're in the top of the food chain, I'm talking about going ahead and seeking a mentor who is already excelling in the industry or the niche that you want to excel in, and paying them for their time, or go ahead and joining their coaching program or their consulting program and then getting advice from them. Do not get advice from people that haven't done shit in life. Okay. That's like asking somebody that has a minimum wage job, how to create a multimillion

dollar business. That doesn't make fucking sense. Okay. I'm just keeping it real. I ain't trying to hurt no feelings here, but at the end of the day, that's just realistic. OK, so with that being said, this network that I'm talking about includes mentors. Peers are more successful than you or even family members that are more successful than you. Remember, they have to be more successful than you in either the niche that you're looking to get into or in life. Okay. For me, my parents were actually the people that I always get advice from even till now, guys. Yes. They might not have became multi-millionaires like I did. I was the first one in my family to do it, but they were winning in life. All right. They came as immigrants to this country. They worked hard. They were able to go ahead and accomplish their goals.

And that's what I wanted to do. I wanted to simplify the process for myself. So I want to accomplish my own goals. And I was like, Mom, how'd you do it? How did you stay on track to go ahead and like, you know, build a family, buy your house, you know, you were you were dealing with all this immigration stuff when you first came to the country, she was like a focus, you know, every day, I would write it down, I would do affirmations. I would think about, you know, what I got to do for the family and just get it done, you know? And that's where I get my motivation from, from her. I'm like a mini her, but a dude, right? So lastly, guys, you got to prepare to be flexible at the end of the day. You know, life doesn't go according to plan. That's just the way it is. Okay. This is why

back in law enforcement, when I used to be a case agent for hundreds of cases, things would never go to plan. This is why we always had backup plans. This is why we always had contingencies. I mean, at the end of the day, you got a plan to succeed. So the path you choose may not always be straightforward and the costs and benefits might change as circumstances evolve. But stay informed you got to monitor your progression every single day and make sure you're on track and be ready to adjust your plans as needed to ensure that you're always moving towards your goals okay because we can get sidetracked you know you might meet the love of your life you might go ahead and have some kids you might go ahead and get fired from your job

you never know mama happen but you gotta adjust you gotta stay according to the plan and your goal life. You might go ahead and have some kids. You might go ahead and get fired from your job. You never know what might happen, but you got to adjust and you got to stay according to the plan and your goal, what you want to accomplish in life. Okay. So in conclusion, understanding the cost of opportunity helps you make an informed decision that is aligned with your long-term objectives. Okay. So it's about seeing the full picture that you want, choosing the path that offers the best overall return for your personal and professional life. So I'm encouraging you to weigh your options right now, today, carefully understand the cost and pursue the opportunities that align best with your vision for the future. So keep evaluating, keep deciding, keep advancing. The right opportunities are there

to bring you closer to your ultimate goals. Take charge of your choices because every decision is a stepping stone to your success. Let's level up. Remember, I always have your six. Make sure to share this episode with your family, friends, and anyone you care about. The world's already hard enough

and we need to take care of each other. Make sure to share this episode with your family, friends, and anyone you care about. The world's already hard enough and we need to take care of each other. Make sure to share this episode on Instagram, Twitter, Facebook, and share it with the world. Do me a big favor and tag me, Paul Alex. Also, keep the five-star reviews on iTunes coming. This episode is going to help change the way the world thinks and will help everyone level up in their life. And lastly, if you want to continue to level up, learn more about business and life, then make sure to get a copy of my book, From Blue to Digital Gold, The New American Dream, on Amazon or at officialpaulalex.com.