The Entrepreneur / Business Owner's / Self Employed Lounge

Go niche?

I don't know much about the accounting space, but it's generally a good tactic, especially if you're starting out in competition against bigger more established options (as you are)?
 
Veloce said:
The desire to start my own business is eating away at me more than ever. The only problem is I'm all too familiar with the risks involved.

It would be a very simple, very small wine bar that serves a limited menu. I have the concept very well fleshed out in my head, would need to formalize it into a business plan.

I already know the place would not be geared towards high volume. Or huge profits. It would be my place to not have to work for anyone else. Because, well paid as I am, I'm getting sick of this shit.

The other apprehension I have is having this place in Vegas. It's hard to imagine it getting a lot of love based on what I know about Vegas locals. 99% of bars here are tacky as shit, having gaming machines, and cater to the vodka+redbull crowd.

It would be a passion project in the truest sense, in that the place could wind up being very painful. But it's eating at me and I feel like I have to at least give it a shot. I may try to make this happen in '19

I would imagine that there is a small demographic of people in Vegas who would be looking for something like this.

Even if your only reason for doing it is not to answer to a boss any more, trust me, that’s a good enough reason.
 

roberto

Pelican
Gold Member
Just made £900 profit after labour for a days work with myself and one guy plus a machine. Getting closer to that £1k day.

The more machines and tools I have the easier it becomes to make good money without straining myself. Unfortunately I am still the linchpin of the operation.
 

roberto

Pelican
Gold Member
Can't believe I was the last person to post here.

Since my last post, I've totally smashed that £900 day with a profit after labour and materials of £2k for one days work with three men and a machine. Then two days later I did another job (of a type I don't particularly enjoy) with one guy and a machine and made another £900 profit after materials and labour.

The one ovveriding thing that I would say has changed over the last few months is my attitude. I now put 40% profit onto jobs when quoting automatically, and my attitude is 'if they can't afford it I don't want that customer'. This is genuine, and what's behind it is the realisation that I can do one job like I did earlier ths week and make the same money as if I was grafting all week.

A few choice titbits I've picked up recently. Can't remember where this was from but- 'you're either the hater or the hated'. Simply put, people hate upon those who are sucessfull. I'm guilty of it myself. Rather than try to cultivate feelings of admiration for more successful rivals (I find this happy clappy stuff tiresome and not really congruent with my personality), I've just become somewhat bitter, not to them, but to anyone who gets in my way. This includes- customers who are timewasters, customers with low budgets, people whom you only see when they want something and people who come to see you during work time but don't offer anything of value. The end result is that these people wind up hating on me. Good. You're either the hater or the hated. Only one of those types makes money. My main local rival is almost universally hated- except by customers, who praise him for delivering what he promises! Every month he has a new machine, and rumour has it without finance also.

I was so enthused by my recent change in attitude that I paid a visit to my mentor last night. This is the guy who sold me my first machine on tick, even though I was scared of borrowing money age 18, because he wanted me to see what was possible. I've been a long time coming round to embracing his entire philosophy, but I'm getting there. A favourite question of his is this:

If I gave you a tenner, could you double it within a month?

Of course I could.

If I gave you ten thousand, could you double it within a month?

Well, probably. If I bought and sold a few machines I guess.

If I gave you a million, could you double it within a month??

It's faultless logic. I think the key to it is removing mental barriers (without going into full blown buzzword packed buisiness seminar mode, which I hate). He's offered to finance me any machines I want (and has the spare capital to do it.) He's also offered to finance and advise me buying a building plot and developing it, then splitting the profit. There is no ulterior motive to his offers- I've known him long enough to know that he is a true mentor, who wants to help from his heart, because he sees potential in me. I'm working really hard on changing my attitudes and removing mental barriers. It's fucking difficult, but if you look at it from a logical point of view it's hard to see why.

I need to start running more jobs at less profit, and scale up. £900 a day profit might sound great to many of you, but it's taken me ten years to get to this stage, it's not every day (more like £300 average every day) and I don't want to have to be on site. I hate it half the time. My job needs to be to find the work, and find the right people to do this work for me- I already have the tools. My newfound bitterness can only help. In my trade you're often dealing with rough sorts, chancers and idiots when searching for staff. I can turn on the charm (without being smarmy) and present as knowledgeable, professional and reliable to my target affluent customers without any problems. The bitterness is needed to deal with the other side of my sort of business.

I'm not the best at putting my thoughts to paper, but I hope this makes some kind of sense and helps my RVF brothers.
 
roberto said:
Can't believe I was the last person to post here.

Since my last post, I've totally smashed that £900 day with a profit after labour and materials of £2k for one days work with three men and a machine. Then two days later I did another job (of a type I don't particularly enjoy) with one guy and a machine and made another £900 profit after materials and labour.

The one ovveriding thing that I would say has changed over the last few months is my attitude. I now put 40% profit onto jobs when quoting automatically, and my attitude is 'if they can't afford it I don't want that customer'. This is genuine, and what's behind it is the realisation that I can do one job like I did earlier ths week and make the same money as if I was grafting all week.

A few choice titbits I've picked up recently. Can't remember where this was from but- 'you're either the hater or the hated'. Simply put, people hate upon those who are sucessfull. I'm guilty of it myself. Rather than try to cultivate feelings of admiration for more successful rivals (I find this happy clappy stuff tiresome and not really congruent with my personality), I've just become somewhat bitter, not to them, but to anyone who gets in my way. This includes- customers who are timewasters, customers with low budgets, people whom you only see when they want something and people who come to see you during work time but don't offer anything of value. The end result is that these people wind up hating on me. Good. You're either the hater or the hated. Only one of those types makes money. My main local rival is almost universally hated- except by customers, who praise him for delivering what he promises! Every month he has a new machine, and rumour has it without finance also.

I was so enthused by my recent change in attitude that I paid a visit to my mentor last night. This is the guy who sold me my first machine on tick, even though I was scared of borrowing money age 18, because he wanted me to see what was possible. I've been a long time coming round to embracing his entire philosophy, but I'm getting there. A favourite question of his is this:

If I gave you a tenner, could you double it within a month?

Of course I could.

If I gave you ten thousand, could you double it within a month?

Well, probably. If I bought and sold a few machines I guess.

If I gave you a million, could you double it within a month??

It's faultless logic. I think the key to it is removing mental barriers (without going into full blown buzzword packed buisiness seminar mode, which I hate). He's offered to finance me any machines I want (and has the spare capital to do it.) He's also offered to finance and advise me buying a building plot and developing it, then splitting the profit. There is no ulterior motive to his offers- I've known him long enough to know that he is a true mentor, who wants to help from his heart, because he sees potential in me. I'm working really hard on changing my attitudes and removing mental barriers. It's fucking difficult, but if you look at it from a logical point of view it's hard to see why.

I need to start running more jobs at less profit, and scale up. £900 a day profit might sound great to many of you, but it's taken me ten years to get to this stage, it's not every day (more like £300 average every day) and I don't want to have to be on site. I hate it half the time. My job needs to be to find the work, and find the right people to do this work for me- I already have the tools. My newfound bitterness can only help. In my trade you're often dealing with rough sorts, chancers and idiots when searching for staff. I can turn on the charm (without being smarmy) and present as knowledgeable, professional and reliable to my target affluent customers without any problems. The bitterness is needed to deal with the other side of my sort of business.

I'm not the best at putting my thoughts to paper, but I hope this makes some kind of sense and helps my RVF brothers.

Roberto

I love your energy. My father used to say the same thing about haters and he’s spot on and so are you.

900 profit days are good, keep at it and keep to your 40% rule. Anyone who can’t afford it you don’t want as clients.

I’m not posting here much because the snow has arrived and it’s money season.

Keep at it man. I’ll pm you.
 

whatday

Ostrich
Gold Member
Living abroad and chilling right now. I'm like Roosh in that I structure my life around campaigns. So right now I'm enjoying the fruits of my labor from prior campaigns, and everything is great, but in life, it's important not to become complacent.

So this idle period will give way to another campaign, the details of which have been coming together in my mind over these last few months, in general, and over the last few weeks, more specifically. This new campaign is going to require a very large amount of time, involves several disciplines, and will culminate in a new business. If the business fails, all of the time to be invested/knowledge to be gained is directly translatable into other endeavors I'm interested in, so it's a solid ROI proposition regardless of the outcome.

This post marks the start of a new campaign.

It's wartime again.
 

roberto

Pelican
Gold Member
Spaniard88 said:
Living abroad and chilling right now. I'm like Roosh in that I structure my life around campaigns. So right now I'm enjoying the fruits of my labor from prior campaigns, and everything is great, but in life, it's important not to become complacent.

So this idle period will give way to another campaign, the details of which have been coming together in my mind over these last few months, in general, and over the last few weeks, more specifically. This new campaign is going to require a very large amount of time, involves several disciplines, and will culminate in a new business. If the business fails, all of the time to be invested/knowledge to be gained is directly translatable into other endeavors I'm interested in, so it's a solid ROI proposition regardless of the outcome.

I hear you. I can feel myself approaching burn out. I need to do some serious chilling over Christmas to be in a fit state to attack the mountain of work we have booked for January as well as hire more staff and find more work.

This post marks the start of a new campaign.

It's wartime again.
 

whatday

Ostrich
Gold Member
All right.

So today I messaged my prior employer and cut off the remote work I was still doing for them on a regular basis. It was only a few hours a week, super simple, enjoyable work, but I found it was going to be a distraction from my current campaign. So with the aim of streamlining things, of increasing my focus on the campaign, I nixed that work going forward, I cut the tether.

The reason I kept doing the work was because even though it was only a few hours, it provided a tether for me to the company. So that tether meant I could easily jump back in, when I got back to America, to work that I really enjoyed.

However, as I spend more time abroad, I'm realizing more and more that finding a nice LTR is going to take longer than I thought, perhaps more than the one, two, or three years I was initially estimating it would take, and also...that I may actually want to stay abroad longer than even that, regardless. I'm seeing opportunities I can take advantage of and adventures I can have.

Life is good.
 
Since October, I have been self-employed. I've investigated a couple of options for income, but the only one that has provided a consistent income has been doing caption work. The money is well below minimum wage and to even earn that I have to work seven days a week, usually around 50-55 hours a week in total. And I'm still nowhere near as stressed or as unhappy as I was in my 37 hours a week job.

I'm going to hit the affiliate marketing and freelance copywriting hard in 2019. I don't want another job unless I absolutely have to get one.

I've wanted to be my own boss for years and my recent experiences have only convinced me that this is the path I would be happier pursuing.
 

fktax

Sparrow
Praetor Lupus said:
I'm going to hit the affiliate marketing and freelance copywriting hard in 2019. I don't want another job unless I absolutely have to get one.

What does this involve? Building content websites and earning income from businesses like Amazon and Ebay?
 
I see a lot of guys that are in the beginner phase reading business books.

My advice if you are first starting is, don't.

Instead, start making a list of business models, and start finding information relating specifically to those business models.

Specific information for a specific business model is what you need (examples of a business model are a Facebook ads consultant/agency, an e commerce store owner, a dog walker etc.).

Once you have researched a few different business models, narrow your choice down to one or two - and start going deeper into them.

The next step after that is to get your first client or first bit of business (start small) and go from there.

You can get lost for months and years reading stuff that is too general when you first start. Instead, go specific.
 
fktax said:
Praetor Lupus said:
I'm going to hit the affiliate marketing and freelance copywriting hard in 2019. I don't want another job unless I absolutely have to get one.

What does this involve? Building content websites and earning income from businesses like Amazon and Ebay?

Sort of, but think driving traffic to pages advertising Clickbank offers.
 
Guys, I tried searching for this on here but no luck.

Anyone recommend an easy way to send money from China to the United Kingdom without having to pay fees or at least limited ones.

I am talking about transactions between £200-1000.

Any help would be appreciated.
 

TheMaleBrain

Kingfisher
Gold Member
I went "Self Employed" a few months ago.
It is a small family owned company, which is used by my parents for consulting (we do tech consulting for various entities). My father has asked me in the past to join, but I felt I needed to have better skills and network for this to happen.

I'm cashing unemployment checks (as I'm eligible) and started bringing money to the company from "day 1". The main problem so far is "buyers credit" (in B2B you get payed here within 30 to 90 days from the date you send the bill, which is at the end of the month you worked).
I still have FYF (F*&k You Fund), so money is less of an issue.

In the first 4 months I found myself having a lot of spare time. I did other things (read tons of books), but also did BizDev activities. Last month I secured a 6-month consulting gig that would my total H1/2019 revenues to 100K$.
Sounds good, right?

However, I found myself in a "time shortage" situation. I needed ~20% more work time to be able to deal with all my projects. I was starting to feel the pressure - I lost my will to approach girls, was constantly "fearing" phone calls and almost decided to "throw back the big fish". I also had a crisis in one of my first projects that was semi-attributed to me. That sure did not help. I also forsaken any thoughts of business development.

Then it hit me. I'm not using the right attitude.

Told myself, that I need to invest sometime to catch up, and if it doesn't work I can be honest with myself that I actually tried. Freed last weekend and worked through it. Took a break for my plates (currently spinning 2 mLTRs) but put in something like 16 hours on it (Friday and Saturday combined). Started using alarm clock set to 6:15AM and engaged work from 7:00AM onward.

It did the trick.

The weekend emails, the early and late emails proved to the new customer that I was making progress. I also have seemed to over estimate what I needed to do. Now I'm done with the first stage. Moving on next week to the second. Customer trust improved and no one is thinking about letting me go. I also (based on advise) came over more to be noticed (even if it was for 1 hour) - driving 45 minutes each direction.
As per the crisis, it was resolved and the blame was shifted from me to a "more accurate place".

Bad times are over. For now.
I have more confidence that I can succeed. I may not, but only time will tell.

Moral of the story:
Don't give up just yet. You might be able to push through it.
And - optics is important. Keep that in mind.
 

roberto

Pelican
Gold Member
TheMaleBrain said:
I went "Self Employed" a few months ago.
It is a small family owned company, which is used by my parents for consulting (we do tech consulting for various entities). My father has asked me in the past to join, but I felt I needed to have better skills and network for this to happen.

I'm cashing unemployment checks (as I'm eligible) and started bringing money to the company from "day 1". The main problem so far is "buyers credit" (in B2B you get payed here within 30 to 90 days from the date you send the bill, which is at the end of the month you worked).
I still have FYF (F*&k You Fund), so money is less of an issue.

In the first 4 months I found myself having a lot of spare time. I did other things (read tons of books), but also did BizDev activities. Last month I secured a 6-month consulting gig that would my total H1/2019 revenues to 100K$.
Sounds good, right?

However, I found myself in a "time shortage" situation. I needed ~20% more work time to be able to deal with all my projects. I was starting to feel the pressure - I lost my will to approach girls, was constantly "fearing" phone calls and almost decided to "throw back the big fish". I also had a crisis in one of my first projects that was semi-attributed to me. That sure did not help. I also forsaken any thoughts of business development.

Then it hit me. I'm not using the right attitude.

Told myself, that I need to invest sometime to catch up, and if it doesn't work I can be honest with myself that I actually tried. Freed last weekend and worked through it. Took a break for my plates (currently spinning 2 mLTRs) but put in something like 16 hours on it (Friday and Saturday combined). Started using alarm clock set to 6:15AM and engaged work from 7:00AM onward.

It did the trick.

The weekend emails, the early and late emails proved to the new customer that I was making progress. I also have seemed to over estimate what I needed to do. Now I'm done with the first stage. Moving on next week to the second. Customer trust improved and no one is thinking about letting me go. I also (based on advise) came over more to be noticed (even if it was for 1 hour) - driving 45 minutes each direction.
As per the crisis, it was resolved and the blame was shifted from me to a "more accurate place".

Bad times are over. For now.
I have more confidence that I can succeed. I may not, but only time will tell.

Moral of the story:
Don't give up just yet. You might be able to push through it.
And - optics is important. Keep that in mind.



I know exactly what you mean. The initial resistance is the hardest to overcome. But once you're 'in the zone' then that's the 20% of effort that provides 80% of gain.

I've had a good start to the year. Took the chance while the weather was good to do a large job with three guys and four machines. Reckon I've made about £5-6k profit this week after wages, diesel and machine costs due mainly to working smart.

But yet again I am still on site all the time making sure everything runs as it should...
 
Is there someone working here with Instragram influencers to promote their online e-commerce business? I paid now 80 dollar for an IG influencer in my niche with over 100 k followers. I'd checked her conversion rate and checked whether she has real followers. What more can I do? I can't imagine it will be profitable working with IG influencers. Someone who has experience with this? Almost all of them only accept a fixed price, I offered a % of the sales but they almost all refuse.
 

rishboy77

Kingfisher
Gold Member
SpursFan741 said:
Is there someone working here with Instragram influencers to promote their online e-commerce business? I paid now 80 dollar for an IG influencer in my niche with over 100 k followers. I'd checked her conversion rate and checked whether she has real followers. What more can I do? I can't imagine it will be profitable working with IG influencers. Someone who has experience with this? Almost all of them only accept a fixed price, I offered a % of the sales but they almost all refuse.

You can check their comments...if it is usually is from a comment group with other like minded people not from actual potential customers then it is a waste of money...I have also offered sales commission on actual sales via a coupon code but most also refuse.
 
rishboy77 said:
SpursFan741 said:
Is there someone working here with Instragram influencers to promote their online e-commerce business? I paid now 80 dollar for an IG influencer in my niche with over 100 k followers. I'd checked her conversion rate and checked whether she has real followers. What more can I do? I can't imagine it will be profitable working with IG influencers. Someone who has experience with this? Almost all of them only accept a fixed price, I offered a % of the sales but they almost all refuse.

You can check their comments...if it is usually is from a comment group with other like minded people not from actual potential customers then it is a waste of money...I have also offered sales commission on actual sales via a coupon code but most also refuse.

About 60% of the comments are from fellow influencers / bloggers , the other 40% seem to be normal people. But I still paid 80$ for 1 day story ( she has about 110k followers). My first and last time I work with IG influencers I think
 
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