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The Entrepreneur / Business Owner's / Self Employed Lounge
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Phoenix Offline
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
Suits: Obviously not going to ask what it is, but do you have any advice you can glean from experience on how to maneuver into a similar position? How you went about discovering the niche or the general steps that led you to "ending up" in emerging high demand?
(This post was last modified: 04-04-2016 11:24 PM by Phoenix.)
04-04-2016 11:24 PM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-04-2016 07:30 PM)Thatdude Wrote:  This shit is no joke, I'm not gonna lie it gets a bit hard to keep your head above water sometimes. Have been starting around 7am the last few weeks and ending closer to 9/10. I enjoy the work but this shit truly is a marathon and not a sprint. Been doing my best to keep my gym/diet regimen in check as if that breaks down so will my body (most likely).

Definitely need someone to help on the back office side of things. The only issue is I'm not at the point where I can pay someone competent to do it. Working on getting some intern help so we'll see how that goes. Sort of at a Catch 22...need help to grow...need to grow to get help.

Tomorrow is another day.

Yeah man, a marathon.

If you count your hours you just might go insane. The trick is to make sure that you give yourself a lot of flexibility. That is the key to happiness, you get to set your own hours and do whatever the fuck you like, when you like, as long as things get done.

If you truly need outside help, you will know it. Its a feeling, one that happens when you know that you have exhausted all avenues and are running as efficiently as possible. You feel almost zen, can see a couple steps ahead and know exactly how to delegate your first hire immediately.

I have seen a lot of guys get overwhelmed, think they need help, hire someone and all they are is a personal assistant to try and help the guy maintain his sanity. A total waste of money.
04-04-2016 11:53 PM
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ElJefe1 Offline
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-04-2016 07:30 PM)Thatdude Wrote:  This shit is no joke, I'm not gonna lie it gets a bit hard to keep your head above water sometimes. Have been starting around 7am the last few weeks and ending closer to 9/10. I enjoy the work but this shit truly is a marathon and not a sprint. Been doing my best to keep my gym/diet regimen in check as if that breaks down so will my body (most likely).

Definitely need someone to help on the back office side of things. The only issue is I'm not at the point where I can pay someone competent to do it. Working on getting some intern help so we'll see how that goes. Sort of at a Catch 22...need help to grow...need to grow to get help.

Tomorrow is another day.

Dont waste your time with an intern go on Upwork and find a cheap filipina, or Jamaican its definitely not easy to find that right person but not Impossible I've founda girl that worked for me for three years on Craigslist Manila, and found 10 really quality employees on Upwork over time, at the same time I've found some characters that make my life terrible... With an intern its a temp soltion if you get someone and they will always leave pretty soon so you are back in the same place....

[/quote]Yeah man, a marathon.

If you count your hours you just might go insane. The trick is to make sure that you give yourself a lot of flexibility. That is the key to happiness, you get to set your own hours and do whatever the fuck you like, when you like, as long as things get done.

If you truly need outside help, you will know it. Its a feeling, one that happens when you know that you have exhausted all avenues and are running as efficiently as possible. You feel almost zen, can see a couple steps ahead and know exactly how to delegate your first hire immediately.

I have seen a lot of guys get overwhelmed, think they need help, hire someone and all they are is a personal assistant to try and help the guy maintain his sanity. A total waste of money.[/quote]

I dont totally agree with this I tried to do everything and it just didnt work, my first employee was able to actually do things I didnt have time to do and effectively ie invoicing as a result she found $5k that was owed to me in past invoices and was able to collect. There gets to a point when you simply cannot do it all yourself and ddont panic thinkning you cannot afford to bring someone on as it actuality it maybe you cannot afford to not bring someone on you just dont know it yet. My best experience are people with Kids, wanting kids, or married, they are usually more dependable as they have to work to feed them babies and are more motivated to be at work everyday and doing a great job.

"I got no game it's just some bitches understand my story." Nas
(This post was last modified: 04-05-2016 12:07 AM by ElJefe1.)
04-05-2016 12:01 AM
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Laner Offline
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-05-2016 12:01 AM)ElJefe1

[/quote' Wrote:  
Yeah man, a marathon.

If you count your hours you just might go insane. The trick is to make sure that you give yourself a lot of flexibility. That is the key to happiness, you get to set your own hours and do whatever the fuck you like, when you like, as long as things get done.

If you truly need outside help, you will know it. Its a feeling, one that happens when you know that you have exhausted all avenues and are running as efficiently as possible. You feel almost zen, can see a couple steps ahead and know exactly how to delegate your first hire immediately.

I have seen a lot of guys get overwhelmed, think they need help, hire someone and all they are is a personal assistant to try and help the guy maintain his sanity. A total waste of money.

I dont totally agree with this I tried to do everything and it just didnt work, my first employee was able to actually do things I didnt have time to do and effectively ie invoicing as a result she found $5k that was owed to me in past invoices and was able to collect. There gets to a point when you simply cannot do it all yourself and ddont panic thinkning you cannot afford to bring someone on as it actuality it maybe you cannot afford to not bring someone on you just dont know it yet. My best experience are people with Kids, wanting kids, or married, they are usually more dependable as they have to work to feed them babies and are more motivated to be at work everyday and doing a great job.
[/quote]

Thats what I was getting at. You have to be in the right frame of mind and have the clear head to know its the right time. That is all.

Obviously hiring people to do specific jobs is far more productive than hiring general help. But without a clear head you will be too preoccupied with the latter.
04-05-2016 01:01 AM
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Suits Offline
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-04-2016 11:24 PM)Phoenix Wrote:  Suits: Obviously not going to ask what it is, but do you have any advice you can glean from experience on how to maneuver into a similar position? How you went about discovering the niche or the general steps that led you to "ending up" in emerging high demand?

It's no secret on the forum that I work in the ESL industry. There's strong demand in China (and elsewhere in Asia) for good ESL instructors, especial for teaching children.

I put a lot of work into developing a skillset to be a good teacher of children, since most people who come to China to teach English want to just show up and take the easy route and teaching adults (because that requires no effort or skills), so there's a constant demand for teachers who are good with and happy to teach kids.

I moved back to China two years ago and I was planning to teach plenty of hours and save up cash to start one of my many business ideas.

In the process of doing that, I realized that there was no good curriculum for ESL. Everything I've ever seen is absolutely garbage and was clearly created by people who had never actually seen the inside of a classroom.

So, I started working on a solution to that problem.

I won't go into more detail, because my solution to the problem is extremely specific and I'm the only person in the world who uses the methods that I do.

Most of my current product development projects are just ideas that I've thought of while teaching that I realized would make my job easier and make learning simpler and more fun.

There's no real science to my approach. But there are no short cuts. I'm making progress because I took the time to learn the ins-and-outs of a particular industry.

My advice would be to get good at something that is in high demand already and get better than everyone else in the field.

I'm the King of Beijing!
04-05-2016 01:38 AM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-04-2016 07:21 PM)PartManPartMonkey Wrote:  
(04-04-2016 06:56 AM)H1N1 Wrote:  If you work for yourself, and aren't doing physical work, then the number one tip I'd suggest is that you wear a tie to work everyday.

H1N1 -- I'm a big fan of your posts.

Do you mean public facing work? I'm self-employed in a professional field. I rarely see clients. I convert at least 95 percent of my clients over the phone. I never see these people. There is no way I would wear a tie every day; in fact, I'd get less work done because I'd be uncomfortable. The proof of my professionalism is how I conduct myself. I'm polite, timely, and tell people exactly what to expect. And of course the results I get.

When I do see clients, then naturally I wear a suit. That I agree is a must. But otherwise, I feel like a professional because I am a professional and because I'm held to that standard by my clients.

To avoid loafing around and wasting time, I write down tasks I want to accomplish the night before. I've also figured out when I'm most productive. I do my best work in the morning and I'm somewhat useless in the early afternoon. So I mold my day around that.

You're kind to say so.

I do specifically mean putting on a shirt and tie. How you dress yourself, specifically how you dress yourself when you may be the only one who sees, is a reflection of your self-esteem. I wear a shirt and tie because it reflects everything I've worked for and am working towards. Your goals and ambitions will vary, and what works for me may not work for others. My particular life circumstances must be accounted for too: I've had about the best start in life one could hope for - I went to perhaps the best school in the world, I have had lots of opportunities to develop some very serious skills across a broad spectrum, I know personally a great many high net worth individuals, politicians, etc, and now I have a profitable business of my own with massive international potential involved in some genuinely exciting cutting edge technological development that could be worth very significant money.

I don't mean it to sound arrogant, but I am not trying to make some cash and live a decent life - I'm trying to rule the world. I expect it of myself because I have been given every opportunity anyone could ask for to achieve that aim. There is nothing more my family could have done for me to make it a possibility, and on top of that genetically I have been dealt a very good hand. I have basically started with a massive head start, and it is important I don't take that for granted or underachieve - it would be unforgivable given the extraordinary lengths my family has gone to to put me in this position.

Because of this I do wear a shirt and tie the entire time I am working, and impose very strict standards on myself. It is not so much just about being professional, it is about manifesting everything you are aspiring to, and embodying the future you expect (not hope) to achieve.

Again, take the example of Dan Pena vs. Mark Zuckerberg. MZ may have more money, may even have more power, but you can see from how he holds himself, how he conducts himself, and how he presents himself that he is not a man who can run the world. Ultimately he will probably be superseded because of that fact. Dan Pena is 80 something and still a rockstar. Why? His posture, his demeanour, his unshakable self esteem, the way he presents himself to the world is entirely congruent with who he is. Again, MZ may have the cash, but who would you go to for advice on a business venture, who would you turn to in a crisis, who would you back to overcome real adversity? Dan Pena and Mark Zuckerberg could stand side by side on a stage in their respective getup for one minute and not say a damn word, and you could tell everything you need to know about each of the men. Who you are is reflected in every little detail.

If your goal is to live a decent, comfortable life on your own terms (which is a perfectly reasonable and respectable goal), then it doesn't matter so much. But if you're doing what you're doing because you want to mix it with the big boys, then there is no dressing or acting like a little fish just because the lights aren't on you. You have to be on all the time, most specifically and most importantly, to yourself.

So when you say you wear a suit to see your clients, but you'd be uncomfortable in it on your own, you're saying that how other people see you is more important to you than how you see yourself. In my view that is the wrong attitude. Dan Pena says in one of those videos that when you look in the mirror you should love what you see, and he is entirely right. You should look in the mirror and think, 'Damn I'm a fine figure of a man'. Your self-esteem, if you're going to do great things, has to be really high. You should look at your body and like what you see, and when you cover it you should look at yourself and see a guy who looks like he belongs at the top table.
(This post was last modified: 04-05-2016 05:10 AM by H1N1.)
04-05-2016 04:59 AM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
One question folks.

On a estate sale, I managed to spot a nice Armani dress. Everything seems to be in order but...

...I have never sold dresses of any kind. I heard stories that women are much more pickier about clothes, and they usually tend to "hamsterize" their way out (that is, they blame YOU, the seller, for the mistakes that were theirs.)

Is there truth to such claims, generally speaking?
04-05-2016 09:17 AM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-05-2016 09:17 AM)Irenicus Wrote:  One question folks.

On a estate sale, I managed to spot a nice Armani dress. Everything seems to be in order but...

...I have never sold dresses of any kind. I heard stories that women are much more pickier about clothes, and they usually tend to "hamsterize" their way out (that is, they blame YOU, the seller, for the mistakes that were theirs.)

Is there truth to such claims, generally speaking?

Check ebay sold auctions on your phone while standing there. You might find it is not worth buying. Say they want $15 and ebay sold is around $30 for something similar. It might not be worth it after fees. Depends on whether you are trying to build up a store or just playing around. (I am not in an ebay business but have had an account for ten years for personal use. I dont sell unless I see a solid sold patern and clear profit. Otherwise its in the trash bin or goes to the aids charity to help the f a g s.)

https://www.npr.org/sections/codeswitch/...off-limits
04-05-2016 09:58 AM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
Good tool for eBay research & you can select country: http://www.watchcount.com

Quote:How It Works: Discover which eBay items have attracted the most interest — and see how many watchers — by entering your search terms below.



WatchCount.com shows you the most popular eBay items in real-time, as voted by eBay users.
eBay continuously tracks votes (when users click "Add to Watch List") and we report the results.
We reveal live Watch Counts (how many watchers), providing rankings and search functionality you won't find on eBay itself.
With unique search capabilities, we're proud to offer improved tools over the former eBay Pulse pages.
(This post was last modified: 04-05-2016 02:18 PM by Nineteen84.)
04-05-2016 02:17 PM
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Awesome thread!

I'm going to try to leave answers when I ask for advice here. Lets go with the question first:

- I've had a lot of stumbles, and no success with hiring help. I use sensitive customer data so I won't employ international contractors, I need someone that is competent with numbers and cloud applications, but is also reliable. I've found I can get reliable, good ethic older folks that struggle with the computer side of it, or younger folks that 'get' the computer work but are unreliable/shit work ethic. The next time I try to hire my plan is to go to a tech school and post looking for interns or new graduates in my field. I'd love to do something like hire a disabled vet, as they can work from home, usually are self disciplined and I can get tax credits. I don't know where to start though and don't want to just drop a bomb onto craigslist and filter lunatics. Any advice?

Next, my advice:

- I'm planning to do a series of posts or videos on this through my business with a focus of advice is counter to the generic stuff you find online. The first one I want to tackle is 'business structure for startups'. I get clients that started LLC-S-corporations that have heart palpatations when I show them the schedule of filings they need to do, that they aren't aware of, and how much its going to cost to have me do them. It is true that it is tax advantageous, but what these online articles don't tell you is that it is a huge administrative burden compared to just running as a sole proprietor or sole member LLC until you get your idea off the ground.Here is a short generic example:

Filings for an LLC S-Corp are: Federally - corporate tax return, payroll, election for LLC treatment and payroll reports. State: LLC annual filing, state corporate tax filing, state payroll, corporate minute books, operating agreement or bylaws, workers compensation insurance, annual meeting records. Local: possibly local corporate tax, filings of record or business licence.

Filings for a Sole Proprietor: Federally - one extra page attached to your federal return, State: filing for a business name designation. Thats it.

Also, unless you want to get tripped up by all of the LLC S-Corp filings you're likely going to have to drop some money on legal advice and tax services. You take all of your tax savings and hand them over to an accountant in fees. There is a revenue point where the tax savings outpace the fees for administering this stuff.

There is also a fallacy to the whole LLC=liability protection, especially if you are a contractor or service provider (like a plumber or consultant) that I don't have room to talk about here and I'm also not a lawyer.

In short, if you want to start a business and are just a guy with an idea...get a business bank account, basic accounting software and get to work. Don't sweat about complex business formation unless you are working with outside capital and/or partners.

Also, remember, this is generic advice that you read on the internet...a fast reality check from a legal or tax professional for your specific situation is pretty cheap.

looking for a new signature.
04-05-2016 04:35 PM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-05-2016 04:35 PM)Dr. Howard Wrote:  Awesome thread!

In short, if you want to start a business and are just a guy with an idea...get a business bank account, basic accounting software and get to work. Don't sweat about complex business formation unless you are working with outside capital and/or partners.

So many people get caught up on formations, domain names, websites and all sorts of other abstractions and never get to the doing. Start doing before someone else does and work out the abstractions as you go along.

https://www.npr.org/sections/codeswitch/...off-limits
04-05-2016 09:21 PM
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Disco_Volante Offline
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
There's definitely a dark side to being in charge of a sink-or-swim operation. I've noticed I've kind of turned into an asshole. You start to view everything in terms of value. Your childhood carefree attitude is permanently gone. You only see consequences, wins or losses.
I know people working shit jobs with no future who are much happier. Hopefully these few years of suffering will pay off so I can be truly financially carefree for decades after this. Watching the more 'carefree' people in the oil industry get laid off in droves has already vindicated my gamble, however. Had I taken the normal path I would've already been eliminated. At least now I've given myself a legit chance at wealth instead of the certainty of a permanent wage worker. Gotta take advantage of the remaining vestiges of the capitalist system before we get full blown communism / economic collapse.
(This post was last modified: 04-05-2016 10:04 PM by Disco_Volante.)
04-05-2016 10:01 PM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-05-2016 10:01 PM)Disco_Volante Wrote:  There's definitely a dark side to being in charge of a sink-or-swim operation. I've noticed I've kind of turned into an asshole. You start to view everything in terms of value. Your childhood carefree attitude is permanently gone. You only see consequences, wins or losses.
I know people working shit jobs with no future who are much happier. Hopefully these few years of suffering will pay off so I can be truly financially carefree for decades after this. Watching the more 'carefree' people in the oil industry get laid off in droves has already vindicated my gamble, however. Had I taken the normal path I would've already been eliminated. At least now I've given myself a legit chance at wealth instead of the certainty of a permanent wage worker. Gotta take advantage of the remaining vestiges of the capitalist system before we get full blown communism / economic collapse.

The happiest people that I know are essentially grown children. They roll out of bed in the morning all ruffian and get into work with bed head and a dumb story. They perform their routine tasks while whistling and biding their time for a prank or conversation. They are the affable idiots, and I love them to pieces. Some of my best friends barely graduated high school but manage to do routine, dead end jobs, raise their affable kids and make a nice simple life.

My first real job was landscaping at 13. At first I was insanely happy, busting my ass in the hopes I would get to play with the little Bobcat excavator. When I realized that I was as high up as I was going to get without being able to run big pruning sheers, I lost interest. I dreamed of more already.

I am certain this is what makes an entrepreneurs mindset. Put a guy like me into a 9-5 job and watch me try and run the show. Then tell me to go run the copy machine and do data entry like a good bee and I would be out of there in a flash.

Sink or swim? Definitely.
04-05-2016 10:52 PM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
I've been working for myself for about 15 years. About 3 years ago I finally got off my arse and got a decent website happening. I was always too dam busy and didn't have the time (really I just didn't use my time correctly). Not one of the usual fancy pants websites, pretty pictures and I'm the best there is etc. but no meat on the bones which to me are really just a wank.
I decided to do the business promotion bit but also provide a lot of information and also a few blogs. For someone like me this was way out of my comfort zone and to be honest I had my doubt's. It takes a fair chunk of my time of which I really don't have much to spare. I pay a copy writer to put it into shape and also paid a website developer as I didn't have a clue.
This has done two things. One it forced me to work out what type of work I really wanted to do in my field, and second get my shit together and start acting more like a business person.
The amount of work I get from people that Google problems and see my site has been a pleasant surprise. I'm now in the position that I don't have to take on the crap work I once did.
Also I as I'm desk based say two thirds of my time, I have found putting on decent clothes gets me in the right mindset however strange that might sound. Judging by some of the comments on here I'm definitely on the smaller scale with only a few employees.
04-06-2016 12:52 AM
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Recently finalized investing in a minority stake in a growing small business after working for them a couple years. It's a small stakes gamble but will make me more committed to growing the business and in a couple year's time tripling my investment or better.

Next I want to lock down at 1 major revenue generating contract for my side gig. Opportunity awaits.

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04-06-2016 03:19 AM
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(04-05-2016 10:52 PM)Laner Wrote:  
(04-05-2016 10:01 PM)Disco_Volante Wrote:  There's definitely a dark side to being in charge of a sink-or-swim operation. I've noticed I've kind of turned into an asshole. You start to view everything in terms of value. Your childhood carefree attitude is permanently gone. You only see consequences, wins or losses.
I know people working shit jobs with no future who are much happier. Hopefully these few years of suffering will pay off so I can be truly financially carefree for decades after this. Watching the more 'carefree' people in the oil industry get laid off in droves has already vindicated my gamble, however. Had I taken the normal path I would've already been eliminated. At least now I've given myself a legit chance at wealth instead of the certainty of a permanent wage worker. Gotta take advantage of the remaining vestiges of the capitalist system before we get full blown communism / economic collapse.

The happiest people that I know are essentially grown children. They roll out of bed in the morning all ruffian and get into work with bed head and a dumb story. They perform their routine tasks while whistling and biding their time for a prank or conversation. They are the affable idiots, and I love them to pieces. Some of my best friends barely graduated high school but manage to do routine, dead end jobs, raise their affable kids and make a nice simple life.

My first real job was landscaping at 13. At first I was insanely happy, busting my ass in the hopes I would get to play with the little Bobcat excavator. When I realized that I was as high up as I was going to get without being able to run big pruning sheers, I lost interest. I dreamed of more already.

I am certain this is what makes an entrepreneurs mindset. Put a guy like me into a 9-5 job and watch me try and run the show. Then tell me to go run the copy machine and do data entry like a good bee and I would be out of there in a flash.

Sink or swim? Definitely.

This is why I had to get out of government. I rose to the top quickly by out performing people but then when I actually got power people were like "whoa whoa Doc Howard what are these crazy words you are using "improve", "efficiency", "wasting money" what are you talking about?!

Contrast that with another guy my age, that was also great at his job but could handle 'just doing his job'. He referred to his job as a 'paycheck penalty box'...aka he had to sit in that chair for x hours to get his paycheck...nothing else really mattered as long as he was there. It helped that he was a friendly guy, but his mindset allowed him to not care how stupid his assigned tasks were, not care about people freaking out or case backlogs all that mattered was that one hour moved into the next.

looking for a new signature.
04-06-2016 07:26 AM
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Post: #92
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-06-2016 07:26 AM)Dr. Howard Wrote:  
(04-05-2016 10:52 PM)Laner Wrote:  
(04-05-2016 10:01 PM)Disco_Volante Wrote:  There's definitely a dark side to being in charge of a sink-or-swim operation. I've noticed I've kind of turned into an asshole. You start to view everything in terms of value. Your childhood carefree attitude is permanently gone. You only see consequences, wins or losses.
I know people working shit jobs with no future who are much happier. Hopefully these few years of suffering will pay off so I can be truly financially carefree for decades after this. Watching the more 'carefree' people in the oil industry get laid off in droves has already vindicated my gamble, however. Had I taken the normal path I would've already been eliminated. At least now I've given myself a legit chance at wealth instead of the certainty of a permanent wage worker. Gotta take advantage of the remaining vestiges of the capitalist system before we get full blown communism / economic collapse.

The happiest people that I know are essentially grown children. They roll out of bed in the morning all ruffian and get into work with bed head and a dumb story. They perform their routine tasks while whistling and biding their time for a prank or conversation. They are the affable idiots, and I love them to pieces. Some of my best friends barely graduated high school but manage to do routine, dead end jobs, raise their affable kids and make a nice simple life.

My first real job was landscaping at 13. At first I was insanely happy, busting my ass in the hopes I would get to play with the little Bobcat excavator. When I realized that I was as high up as I was going to get without being able to run big pruning sheers, I lost interest. I dreamed of more already.

I am certain this is what makes an entrepreneurs mindset. Put a guy like me into a 9-5 job and watch me try and run the show. Then tell me to go run the copy machine and do data entry like a good bee and I would be out of there in a flash.

Sink or swim? Definitely.

This is why I had to get out of government. I rose to the top quickly by out performing people but then when I actually got power people were like "whoa whoa Doc Howard what are these crazy words you are using "improve", "efficiency", "wasting money" what are you talking about?!

Contrast that with another guy my age, that was also great at his job but could handle 'just doing his job'. He referred to his job as a 'paycheck penalty box'...aka he had to sit in that chair for x hours to get his paycheck...nothing else really mattered as long as he was there. It helped that he was a friendly guy, but his mindset allowed him to not care how stupid his assigned tasks were, not care about people freaking out or case backlogs all that mattered was that one hour moved into the next.

Self employed 8 years now and commission only another 7 before that. If I fail its on me. No clock watching for a paycheck nor would I want it that way.

https://www.npr.org/sections/codeswitch/...off-limits
04-07-2016 11:59 AM
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Post: #93
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-05-2016 10:01 PM)Disco_Volante Wrote:  There's definitely a dark side to being in charge of a sink-or-swim operation. I've noticed I've kind of turned into an asshole. You start to view everything in terms of value. Your childhood carefree attitude is permanently gone. You only see consequences, wins or losses.
I know people working shit jobs with no future who are much happier. Hopefully these few years of suffering will pay off so I can be truly financially carefree for decades after this. Watching the more 'carefree' people in the oil industry get laid off in droves has already vindicated my gamble, however. Had I taken the normal path I would've already been eliminated. At least now I've given myself a legit chance at wealth instead of the certainty of a permanent wage worker. Gotta take advantage of the remaining vestiges of the capitalist system before we get full blown communism / economic collapse.

Definitely feel this way. Now this shit is sink or swim, do or die. It's scary on occasion but it's goddamn motivating at the same time.

On another note: taking stock at the end of the day is helping me a bit too. When you put shit into perspective and try to put it into manageable chunks it becomes a bit easier/less overwhelming. Something I want to work on as I continue on this journey.
04-07-2016 02:28 PM
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Post: #94
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-05-2016 04:35 PM)Dr. Howard Wrote:  Awesome thread!

I'm going to try to leave answers when I ask for advice here. Lets go with the question first:

- I've had a lot of stumbles, and no success with hiring help. I use sensitive customer data so I won't employ international contractors, I need someone that is competent with numbers and cloud applications, but is also reliable. I've found I can get reliable, good ethic older folks that struggle with the computer side of it, or younger folks that 'get' the computer work but are unreliable/shit work ethic. The next time I try to hire my plan is to go to a tech school and post looking for interns or new graduates in my field. I'd love to do something like hire a disabled vet, as they can work from home, usually are self disciplined and I can get tax credits. I don't know where to start though and don't want to just drop a bomb onto craigslist and filter lunatics. Any advice?

Just like filling any position, you first need to be able to describe what that person is going to do. Describe the roles and responsibilities that they will be performing, breaking it down to the task level if necessary. Ideally, specify the metrics for success and communicate it when you advertise. Set expectations up front. Once you have defined what needs to be done, figure out the qualifications. Do they need a degree or is a high school diploma sufficient? What kind of related experience would help them in performing the job? Race, sex, and age should not be a factor in the decision.

Given that this is a key hire for you, you should consider whether you want this person to just perform the job as specified or be able to expand into other areas and help your business grow. When looking for growth, you may have to tradeoff between immediate competency and future potential while taking into account your time investment in training the new hire.

Hiring someone that is over qualified can be expensive but if they have the potential to help your business grow, it might be worth paying extra. Primarily an investment decision- how much are you willing to invest for potential growth? If you can sell the excitement and growth potential of joining a startup/small business, you may be able to get them at a more reasonable price.

I think that hiring (assessing people) is the hardest skill to master but also the most important in business. Growing a business is a team sport and is largely dependent on the quality of people you surround yourself with.

Hope that helps.
04-07-2016 09:05 PM
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Post: #95
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-07-2016 09:05 PM)Oneeyedjack Wrote:  
(04-05-2016 04:35 PM)Dr. Howard Wrote:  Awesome thread!

I'm going to try to leave answers when I ask for advice here. Lets go with the question first:

- I've had a lot of stumbles, and no success with hiring help. I use sensitive customer data so I won't employ international contractors, I need someone that is competent with numbers and cloud applications, but is also reliable. I've found I can get reliable, good ethic older folks that struggle with the computer side of it, or younger folks that 'get' the computer work but are unreliable/shit work ethic. The next time I try to hire my plan is to go to a tech school and post looking for interns or new graduates in my field. I'd love to do something like hire a disabled vet, as they can work from home, usually are self disciplined and I can get tax credits. I don't know where to start though and don't want to just drop a bomb onto craigslist and filter lunatics. Any advice?

Just like filling any position, you first need to be able to describe what that person is going to do. Describe the roles and responsibilities that they will be performing, breaking it down to the task level if necessary. Ideally, specify the metrics for success and communicate it when you advertise. Set expectations up front. Once you have defined what needs to be done, figure out the qualifications. Do they need a degree or is a high school diploma sufficient? What kind of related experience would help them in performing the job? Race, sex, and age should not be a factor in the decision.

Given that this is a key hire for you, you should consider whether you want this person to just perform the job as specified or be able to expand into other areas and help your business grow. When looking for growth, you may have to tradeoff between immediate competency and future potential while taking into account your time investment in training the new hire.

Hiring someone that is over qualified can be expensive but if they have the potential to help your business grow, it might be worth paying extra. Primarily an investment decision- how much are you willing to invest for potential growth? If you can sell the excitement and growth potential of joining a startup/small business, you may be able to get them at a more reasonable price.

I think that hiring (assessing people) is the hardest skill to master but also the most important in business. Growing a business is a team sport and is largely dependent on the quality of people you surround yourself with.

Hope that helps.

Words from the Gold King!

https://www.npr.org/sections/codeswitch/...off-limits
04-07-2016 10:15 PM
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Post: #96
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-07-2016 09:05 PM)Oneeyedjack Wrote:  
(04-05-2016 04:35 PM)Dr. Howard Wrote:  Awesome thread!

I'm going to try to leave answers when I ask for advice here. Lets go with the question first:

- I've had a lot of stumbles, and no success with hiring help. I use sensitive customer data so I won't employ international contractors, I need someone that is competent with numbers and cloud applications, but is also reliable. I've found I can get reliable, good ethic older folks that struggle with the computer side of it, or younger folks that 'get' the computer work but are unreliable/shit work ethic. The next time I try to hire my plan is to go to a tech school and post looking for interns or new graduates in my field. I'd love to do something like hire a disabled vet, as they can work from home, usually are self disciplined and I can get tax credits. I don't know where to start though and don't want to just drop a bomb onto craigslist and filter lunatics. Any advice?

Just like filling any position, you first need to be able to describe what that person is going to do. Describe the roles and responsibilities that they will be performing, breaking it down to the task level if necessary. Ideally, specify the metrics for success and communicate it when you advertise. Set expectations up front. Once you have defined what needs to be done, figure out the qualifications. Do they need a degree or is a high school diploma sufficient? What kind of related experience would help them in performing the job? Race, sex, and age should not be a factor in the decision.

Given that this is a key hire for you, you should consider whether you want this person to just perform the job as specified or be able to expand into other areas and help your business grow. When looking for growth, you may have to tradeoff between immediate competency and future potential while taking into account your time investment in training the new hire.

Hiring someone that is over qualified can be expensive but if they have the potential to help your business grow, it might be worth paying extra. Primarily an investment decision- how much are you willing to invest for potential growth? If you can sell the excitement and growth potential of joining a startup/small business, you may be able to get them at a more reasonable price.

I think that hiring (assessing people) is the hardest skill to master but also the most important in business. Growing a business is a team sport and is largely dependent on the quality of people you surround yourself with.

Hope that helps.

Agree

looking for a new signature.
04-08-2016 03:48 PM
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Post: #97
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
I also don't think it's possible to be in a relationship, much less marriage and build a successful startup. If you're concerned about a social life then you need to get a 9-5 like everyone else.

I'm going to Houston to my partner's place, to meetup and prepare for a presentation on Monday. He just told me not to come until sunday because he's attending a wedding with his girlfriend, cutting into our prep time.
Where are your fucking priorities man? who gives a fuck about being social with your girl? It's a wet hole that talks.

I also can't imagine many girlfriends/wives understanding the big picture and tolerating years of 'doing without' so you can invest in your idea.
04-08-2016 11:13 PM
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Post: #98
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(04-08-2016 11:13 PM)Disco_Volante Wrote:  I also don't think it's possible to be in a relationship, much less marriage and build a successful startup. If you're concerned about a social life then you need to get a 9-5 like everyone else.

Yes and no. Up until about two months ago, I spent a year where, I definitely did not have the sort of time and energy to be my usual social self, which was too bad, because one of the big reasons I live in Beijing is specifically so that I can develop good friendships with the quality people this city often attracts.

However, having ditched my day job, the service side of my business generates enough money to live comfortably, while leaving me with a lot of free time (two days and two mornings) each week to develop the product sales side of my business.

I could push harder, but I've decided that I'm not doing this to get rich, I'm doing this so that I don't have to work for an asshole boss, so I'll take lifestyle over faster success and quicker money.

I think the bigger issue is that as a married man, you've got people depending on you therefore can't take the sort of risks that I've spent the last year taking to get to where I am now.

I've been flat broke more times that I want to think about. Just came back two weeks ago from a trip to Hong Kong for a visa that took all of my available cash ($1500) between the visa processing fees, travel costs and accommodation. I can deal with that, but if I had a wife or kids, these would not be risks I'd be willing to take.

As a single guy, I can justify it, because I know what the payoff is going to be going forward (the visa run was the last step of a long process of setting myself up for success), but if I had a family, it wouldn't be the same.

Either way, this is best done as a single man.

I'm the King of Beijing!
04-08-2016 11:48 PM
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Post: #99
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
I've been with my girl 11 years. I met her a couple of months after I started my business.

The amount of support she gave me emotionally and financially during the ups and downs of the first couple of years of business is unquantifiable; she gave me parts of her wages when I was short on cashflow and too proud to ask anywhere else...she encouraged me to keep going and told me every day that I was amazing and she had faith in me. Etc Etc Etc.

For this I will always be in her debt.

Never underestimate the power and benefits a *good* woman can bring.
(This post was last modified: 04-09-2016 02:22 PM by Saweeep.)
04-09-2016 02:20 PM
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Post: #100
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
I will add this from my personal sample size of men I deal with all the time. In person.

The ones that I have had try and rip me off, or have ripped me off have ALL been single. No attachments in their personal life means that much of the dividing wall between work and life is missing.

We all have sociopath tendency as entrepreneurs. This is no shocking revelation. But the delusion runs higher in my friends/colleagues/ associates who are running their business at all costs.

So having said this, I agree that women can fuck up businesses faster than bad cash flow.

I have been on both sides of the argument many times. When I was single and chasing the sex I needed it conflicted with my company. I also had to meal prep, grocery shop, gym and hobbies to keep my sanity.

As a family man now I have slightly different priorities but I still manage the same. I don't cook anymore, grocery shop or clean my flat. This alone keeps me in work mode until the last minute before dinner is on the table.

Risk taking is something that I get asked about a lot. What can I say other than being idled by decisions is something that I don't want to be a part of my life. Any mentally strong man will always be able to provide food and shelter for a family. Once you get on board with this, its only a matter of pride in how much extras you feel you and your family need.

I always suggest talking with older retired cats who started up their life long passions as a business. They all say the same thing: They should have started it decades ago but let the fear dictate their lives. Regret in old age is a sad emotion to witness.
04-09-2016 03:53 PM
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