Young guys... Start you own business. Invest in yourself.

[zam77]

Stock market talk on the forum seems to be quite common these days. It's all fine and dandy... but there are alternatives. America and the rest of the world are starving for entrepeneurs right now.

The safest path toward happiness and wealth is to be your own boss... you got an idea, go for it.

[jjgold]

own boss although never use your own money to start a business

[topgame85]

Agreed, however hard to get capital and people less willing to part with their funds for new less established products. Discount market is the place to be right now. If you can make an equal or better product for cheaper than the competitor and sell it for less there is a lot of money to be made.

[ApricotSinner32]

How is america starving for entrepeneurs?

[flyingillini]

Be your own boss, never work for anyone else.... Plain and simple... it might take you a while to achieve this but well worth it.

[zam77]

How is america starving for entrepeneurs?

Not everyone in the country is lazy and waiting for their government check to go spend it at Wal-mart. There's a good portion of people with a lot of money in this country that want to see people get off their ass and get creative and sell them something worth buying... I talk to them everyday.

[flyingillini]

Not everyone in the country is lazy and waiting for their government check to go spend it at Wal-mart. There's a good portion of people with a lot of money in this country that want to see people get off their ass and get creative and sell them something worth buying... I talk to them everyday.

Hell of a post!

[Emily_Haines]

Plus much easier to skim of the top and skip out of paying lots of those bullshit taxes that come out of your check if you have a regular job.

[marcoloco]

Make sure you can afford the risk. Kinda of like gambling dont risk what you can afford to lose. Something like 50% of new businesses fail before 1 year and less than 30% make is past year 2. Well worth the risk if you succeed. My 1st 4 businesses I tried to start up I fell flat on my face. Lost a ton of money. Ultimately filed for BK. tried one last time w/ a start up and finally seem to have something promising. 2 years now with a very positive cash flow and in the black

[SportsMushroom]

Make sure you can afford the risk. Kinda of like gambling dont risk what you can afford to lose. Something like 50% of new businesses fail before 1 year and less than 30% make is past year 2. Well worth the risk if you succeed. My 1st 4 businesses I tried to start up I fell flat on my face. Lost a ton of money. Ultimately filed for BK. tried one last time w/ a start up and finally seem to have something promising. 2 years now with a very positive cash flow and in the black

what were your mistakes in the unsuccessful businesses?

[vyomguy]

tech-startups are tough...my friend started 4 of them..none of them successful. Usually the hit-rate of the startups is like 2%.

[zam77]

Plus much easier to skim of the top and skip out of paying lots of those bullshit taxes that come out of your check if you have a regular job.

There is an undoubted advantage here. The write-offs can't be overlooked as well.

Make sure you can afford the risk. Kinda of like gambling dont risk what you can afford to lose. Something like 50% of new businesses fail before 1 year and less than 30% make is past year 2. Well worth the risk if you succeed. My 1st 4 businesses I tried to start up I fell flat on my face. Lost a ton of money. Ultimately filed for BK. tried one last time w/ a start up and finally seem to have something promising. 2 years now with a very positive cash flow and in the black

Happy to hear you are on to something loco. The reality is too many people don't take the time of developing a strong business plan partnered with legitimate financial projections for the first 3 years. Too many people make really stupid mistakes during their start up. Not saying you did... but there are a lot who simply don't know how to budget their start up money and go broke before the sales even have a chance to catch up to their overhead. If you understand simple economics... you are a step ahead of many people in the pack.

[itchypickle]

The key is don't go for the immediate gratification aspect of a business....try and start while you have another job/career and build it as you go before taking a draw out for your pay. After a few years you should have easily earned enough to not only start taking a % out but enough to expand or even venture into a new one. It's all about pacing yourself and not draining the $$$ out.

[zam77]

tech-startups are tough...my friend started 4 of them..none of them successful. Usually the hit-rate of the startups is like 2%.

Franchises can be a sound alternative. If you have the smarts and the drive, but lack a promising idea... it's definitely something to consider.

edit: didn't see "tech"... but still.

[ngates815]

There is an undoubted advantage here. The write-offs can't be overlooked as well

Write offs...

Need a new laptop at home, buy through work...Need to check emails at home as well
Cell phone bill? Write off through work...gotta answer business calls at all times
need a New truck? write off as work vehicle....The one negative to this was, now I miss the 60 cents I'd pay myself per mile, and fill up on the work CC.

etc etc etc

gotta love it.

[maersksealand]

best investment for 95% of the people here will be stop gambling

[itchypickle]

Write offs...

Need a new laptop at home, buy through work...Need to check emails at home as well
Cell phone bill? Write off through work...gotta answer business calls at all times
need a New truck? write off as work vehicle....The one negative to this was, now I miss the 60 cents I'd pay myself per mile, and fill up on the work CC.

etc etc etc

gotta love it.

And travel - We are meeting up an old friend of my wife and her husband in Orlando for 5 days later this month...the husband 'is interested in options we can offer his company' so we have to use our Hilton Rewards points combined on this business trip deduction....luckily for us the Hilton is right across from Sea World and some awesome pools as well. All work and no play boys

[ngates815]

^^^ Yea...When we go up to Wisconsin snowmobiling, we'd stop by the place that we do the most work for. Write off all the mileage, dinners, drinks.


We were talking to an older couple last year in Jamaica, and he was a CPA and his son worked for him as well. He said they need to have so many hours of "class" or something each year to keep up with their license. He was saying that they have a class down there for 4 hours for a morning for 5 days that will count towards their hours....He said writing off the whole trip.

Don't think I could pull something like that off being in the machining business.

But will write off a trip the end of this month, maybe look at a few places, drop a few business cards....

[Glitch]

How is america starving for entrepeneurs?

new businesses create new jobs.

[killawookie]

Great saying and I'd love to do it.. except I lack creativity that's required to come up eith something innovative. A Guy can dream though

[King Mayan]

Not everyone in the country is lazy and waiting for their government check to go spend it at Wal-mart. There's a good portion of people with a lot of money in this country that want to see people get off their ass and get creative and sell them something worth buying... I talk to them everyday.

so, only entrepreneurs work hard?? Selling shit is working??

[bruceBRUCEbruce]

I wholeheartedly agree with the sentiment in the 1st post. It's nice to have a safe job with a big corporation and all the perks, but there's nothing in the world like working for yourself.

[William Walters]

I've been a partner in a small company for close to 16 years. Wearing shorts & tee-shirts to work (office is coastal), coming & going as I please (as long as work is done), and many other inherent benefits are great. But, when business takes a dip..............ownership gets paid last. We take on the daily stress and responsibility of not only our own livelyhood, but of those that we employ. Overall, it's great, but there are times I/we just want to say "fukk it.......let somebody else deal with all this crap".

[allenlud23]

The best way to beat the odds with a new business is to start a business that centers around something you are passionate about. That might seem obvious, but I have talked to many people who have started businesses because they heard about some great business opportunity and they didn't really care about the business idea as much as the $$$. Everyone will get burnt out at some point, but if you are passionate about your business, you are more likely to fight through the downturns.

[mighty maron]

Stock market talk on the forum seems to be quite common these days. It's all fine and dandy... but there are alternatives. America and the rest of the world are starving for entrepeneurs right now.

The safest path toward happiness and wealth is to be your own boss... you got an idea, go for it.

Happiness and wealth are generally exclusive states of being.....more wealth..usually more worries...

[ngates815]

Happiness and wealth are generally exclusive states of being.....more wealth..usually more worries...

No Wealth...usually more worries...

[zam77]

so, only entrepreneurs work hard?? Selling shit is working??

Yeah Mayan, that's the point I was trying to make?

[King Mayan]

Yeah Mayan, that's the point I was trying to make?

I'm asking, you see the question marks?? You make it seem everybody that is not a entrepeneuer is getting checks from the government.

[zam77]

I'm asking, you see the question marks?? You make it seem everybody that is not a entrepeneuer is getting checks from the government.

Here... I made a couple changes for you. Hope it helps.

Not everyone, whether it be an entrepeneur or a hard working citizen for someone else, in the country is lazy and waiting for their government check to go spend it at Wal-mart. There's a good portion of people with a lot of money in this country that want to see people get off their ass, or even if you are not on your ass... grow some balls, take a risk, and get creative and sell them something worth buying... I talk to them everyday.

[King Mayan]

Here... I made a couple changes for you. Hope it helps.

Not everyone, whether it be an entrepeneur or a hard working citizen for someone else, in the country is lazy and waiting for their government check to go spend it at Wal-mart. There's a good portion of people with a lot of money in this country that want to see people get off their ass, or even if you are not on your ass... grow some balls, take a risk, and get creative and sell them something worth buying... I talk to them everyday.

Sorry pal, not everybody needs to own a business and that doesn't mean they don't have balls or are lazy fukks.

[zam77]

Sorry pal, not everybody needs to own a business and that doesn't mean they don't have balls or are lazy fukks.

you can't be serious... the way you're interpeting this thread is pretty moronic... but I agree with your post if you need me to spell that out for you.

[King Mayan]

you can't be serious... the way you're interpeting this thread is pretty moronic... but I agree with your post if you need me to spell that out for you.

help me Zam?

[zam77]

help me Zam?

Help you what Mayan?

[King Mayan]

Help you what Mayan?

Fukk me. I'm confused.

[zam77]

Fukk me. I'm confused.

Ok... we'll just leave it at that then. BTW... serious question... do you use shampoo or soap to wash your bald head?