Business owner thread

[Anonymous No.17148152]

Who here owns their own business? How’s it doing?

[Anonymous No.17148179]

idk but I fantasize about owning a business every day I drive into my shit 9-5. any anons have some good literary resources for getting a small hobby business up and running?

[Anonymous No.17148407]

>>17148179
just start it and learn as you go

[Anonymous No.17148424]

>>17148179
Buy an existing business. WAY WAY less risk and cost. They literally always sell at a discount.

[Anonymous No.17148458]

i noticed that all video game leagues are fighting or shooting, so i started a video game league for dating simulators. this is a really good idea, but the bank will not give me capital.

[Anonymous No.17148638]

I am a partner in one business and own a other. One is Financial Services and one Real Estate company that's owns 7 residential units, a barber shop, and a beauty shop. Both doing very well.

[Anonymous No.17148713]

>>17148638
What do you bring in from 7 residential units? Curious

[Anonymous No.17148774]

>>17148152
I own a small marketing company. Anything in client-services is hard... time spent on phone with clients, emails, reporting. I'm making less money than most of my friends right now, but my income ceiling is very high in a shorter period of time.

[Anonymous No.17148868]

>>17148774
What kind of stuff do you do? Did you hire anyone yet?

[Anonymous No.17148917]

garyvee is based

[Anonymous No.17148938]

>>17148407
How can one achieve the retarded boomer mindset such as yours?

[Anonymous No.17149051]

>>17148152
Does a weed business count?

[Anonymous No.17149062]

>>17148152
there's no business anymore
Humanity lives in basements everywhere

[Anonymous No.17149188]

I started a business 20 months ago.
My own brand of a healthcare product
Lost money year 1
Will make about 80K this year
Prob 250K next year
Its been really hard work
Your own business doesn't have holidays
Customers around 24/7
Friends and family that were supportive when it was small and losing cash become less supportive as it looks like you'll make it
Need to be able to take it to 10M + a year to be able to flip it

[Anonymous No.17149228]

>>17148713
The 7 residential units bring in $4,800 per month gross

[Anonymous No.17149229]

>>17148152
I have 4 customers in a service business that offers weekly, by weekly, once a month or one time services. I have the potential to have a shitload more customers but dread the idea of canvassing for customers so I'm just coasting by with the 4 customers I got who found me by pure chance. please help me anons, I'm too autistic to knock on doors.

[Anonymous No.17149232]

Went big and cutting edge and raised a couple million. Thought it’d be dandy, but honestly even a couple m is under capitalized for any large scale projects and it’s pretty stressful :)

[Anonymous No.17149259]

>>17149188
Nice man. I own an apparel brand. First 4 years I’ve done roughly $200k just building it organically and this year I’m hoping to advertise the shit out of it and eclipse $1m+

[Anonymous No.17149316]

>>17148868
Google & Facebook ads primarily. Have hired 1 person so far that is helping. This allows me to focus on sales and handling client communication while they focus on managing the ad accounts & reporting results to clients.

Once we turn on our own ads & start marketing ourselves, I will spend most of my time on phone/email doing sales, will need to hire one more person to help manage client work, and then finally will hire someone to handle inbound calls/sales so I can focus on growing the biz.

Once we get to that point end of year I will be managing/directing & putting out fires rather than doing client work, sales, emails, etc. More suited to my temperament...

[Anonymous No.17149320]

>>17149229
>I'm too autistic to knock on doors.
So hire some college chads / stacies to do it for beermoney.
Get the right people for the right tasks anon.

[Anonymous No.17149327]

>>17148424
H...How?

[Anonymous No.17149331]

>>17149232
What is your business? How did you go about getting investment?

[Anonymous No.17149347]

>>17149316
Have you implemented 100% CBO strategy for your fb ads yet? Rumors are Facebook will be running ONLY cbo at some point in the best future.

[Anonymous No.17149390]

>>17149327
1. Buy a franchise. This gives you proven business model, product/service line, marketing material, best practices, and in the best cases you'll have a support team from corporate ready to assist. Many, many good franchises out there with recurring revenue models (think: subscriptions).

2. Buy a biz from a retiring old man.. something that looks great, works great, good idea, but they haven't realized the potential for one reason or another. One of my clients did this.. bought a management training company with a good track record, good material, but the guy couldn't grow the biz... My client bought the company for 100k or so & with some good marketing we were able to blow him up.. now he's doing contracts for the US Army & big banks.

[Anonymous No.17149434]

>>17149347
Basically yes. We got into Facebook ads after FB had already implemented that as a default so I am fine with that method since I favor automating as much as possible... automation makes it easier to manage lots of accounts.

I have turned off CBO for all our re-targeting campaigns. Not sure how I'll approach this going forward.

[Anonymous No.17149438]

>>17149331
It’s a tech-based product based, I was in blockchain early, I’m also very young, relatively smart and well spoken and have very novel concepts. Mostly angel investors and a couple small VCs who believe in me personally, and I’ve had a history of progress to back their support,

Raising is of course a good product or idea, but also huge points for confidence and articulation and a genuine belief/desire to drive impact/that you’re capable to.

[Anonymous No.17149477]

>>17149434
I just ran a 3 day CBO test with a $7k budget between like 140 total adsets. My broad audience did so fucking horribly that I had to turn it off day 2 lol. Interest target def needs some tweaking. Only thing I hated about CBO was it would pump so much money into 1 or 2 adsets leaving the others high and dry. Had to manually turn them off then add maximum spending limits to even the playing field.

[Anonymous No.17149671]

>>17149438
Did you just reach out to rich friends & associates? I've never sought out investment.. how does one go about getting investment?

[Anonymous No.17149714]

>>17149671
No, I don’t come from much money and I began the project in HS so I didn’t have associates. But, I leveraged university and general start up competitions and networking events heavily. Assuming you have baseline invest-abilitly it’s just about doing the reps and meeting as many people as it takes. Also, make sure you build your accolades on one another. If person X invests or advises you make sure you highlight that to person Y. When person Y backs you take that to person Z. If you won comp A show that at comp B.

[Anonymous No.17149776]

>>17149477
I've only just begun scratching the surface of FB potential and most of my clients have small $1000-2000/month budgets or in that range. What kinds of ppl are you working with?

To avoid the problems with broad audience targeting, my thinking going forward is that we need a tiered campaign strategy and we define our audiences upfront (obv will vary based on client):

Campaign 1: Broad (ideally based on a LTV audience or other customer audience)

Campaign 2: LAA adsets based on pre-established metrics (engagement, video views, add to carts, etc)

Campaign 3: Same as above, but with additional interest/behavior restrictions.

Broad takes the hit, perhaps with low cost conversions but also lower quality (I mostly work with services, not ecommerce.. with ecom I'm seeing higher cost conv.. it's the opposite of services.)

Next campaign refines it further and LAA audiences populate.

Over time all high quality conversions float to Campaign 3 LAA's and then presumably I'll eventually pause Campaign 1 (Broad).

Thoughts?

[Anonymous No.17149798]

>>17149316
Where did you find your employees? I hear a lot of marketing companies basically just do white label or simply outsource most of their work to freelancers. Is that true?

[Anonymous No.17149874]

>>17149776
My structure is a straight up copy of the cbo cookbook strategy which I recently bought. I’m running ads for my own brand believe it or not. I’m testing out cold audiences at the moment and soon I’ll move into phase 2 before finally scaling. Additionally I’ll have warm and hot audiences on top of them for regathering. Its challenging but really fun to work with.

[Anonymous No.17149911]

>>17149798
Probably is, idk. I hired my brother as the first employee.

I worked in a marketing company for 3 or 4 years that hired several Indian & Philippian guys/girls as VA/freelancers.. I don't want to go that route. It's easier to manage ppl like you that live locally and can meet in person.

As for outsourcing generally, I'm going to outsource graphics & video once we get to that point to some local university kid probably. Eventually we'll bring it in-house.

[Anonymous No.17150005]

>>17149232
Elaborate asshole

[Anonymous No.17150019]

>>17149320
wouldn't I have to hire them as contractors or something? I might have jumped the gun by gettin an llc too

[Anonymous No.17150076]

>>17150005
>>17149232
pardon me didn't notice the thread

[Anonymous No.17150090]

>>17148152
I don’t but my father does. He has a small real estate development company that does alright. He won a contract agreement with a relatively large franchise in our state, so he will have “refreshes” he can do on commercial spaces when the franchisee is obligated to do so. He also has around 30-35 commercial/industrial rental units. Last I talked to him those gross him around $40k/month. After debt service he is probably bringing in $15-18k a month. He had to work his ass off for 20 years but now that it’s established he just collects his rent checks and looks for more property to buy. The absolute dream for many

[Anonymous No.17150099]

>>17149714
Sounds like the right way to go.

[Anonymous No.17150104]

>>17149390
Did your friend buy a plastic gun molding company? I saw on Bizquest an old guy retiring selling on, the current operations netted $1.5k a month but the guy did 0 internet advertising. Didn’t even have a company email, just a phone number. This sounds like the same deal lol

[Anonymous No.17150196]

>>17150104
You're probably right. I really don't know anything about buying an existing business. My client got a good deal.. bought a company with an existing client base and got lucky 'cause the previous owner was old and retiring & knew nothing about digital advertising.

I haven't looked at Bizquest but will give it a watch

[Anonymous No.17150246]

>>17149874
I am going to check out the cbo cookbook on your recommendation. We only recently got into FB ads (spent last 5 years on Google only) so this is new territory. I agree FB strategy is a lot of fun & very cool compared to Google.

Do you have any other resources you use? Fav blogs/articles, for example?

[Anonymous No.17150277]

>>17149259
Congrats on that. How are you planning to advertise?

[Anonymous No.17150462]

>>17150246
My 2020 plan is this:

Leverage social media to the max. I use a service called later.com to automatically schedule social media posts. I literally have the next 3 years of posts scheduled so I don’t have to do that manually anymore, it’s fucking great.

Work with social media influencers, but only the ones who love and support my brand. They usually won’t ask for money in return but free products instead.

Just launched a rewards program and all precious customer purchase history will be synced, so they’ll have points waiting for them to spend

I have about 4 package inserts I include with every order. I reward customers with a $15 gift card for leaving product reviews to build my brand reputation. And there’s also a hand written note to get on every customers fuzzy side.

Planning on getting my products into overseas retail shops at some point this year. Had one store manager from a big retail chain recently inquire about my products so I’m hoping to get a deal done there.

Then pretty much just spend a shit ton on Facebook ads after I’ve finished testing as many audiences as possible.

[Sage No.17150544]

>>17149259
Wow, apparel brands are hard, congrats!

[Anonymous No.17150588]

I own a tiling business. Post here often. On the one hand I feel good and independent. Just basically work when I want and pull about $50 an hour. On the other hand I feel like a lower class tradesman. I'll never really move up from here and it's depressing going to people's homes that are $500k+ and they have boatloads of money. And here I am in my dirty jeans and old pickup truck.

I was doing a backsplash at a customer's house last week and he had left his 2019 W-2 form out on the kitchen counter. His pre-tax income was $195k. The guy couldn't have been older than 35. I see shit like this and go "what am I doing with my life?". That coupled with neck pain from this job gets me down.

Also my marriage is falling apart. Wife is becoming a ham beast that never wants sex.

Could be worse.

[Anonymous No.17150618]

>>17149229

Just put flyers in people's mailboxes and on their car windows. Also make a social media page for your company and pump it everywhere.

[Anonymous No.17150776]

>>17150588
You need to take it to the next level. Shill more to gain more jobs hire more guys hire foremen expand into swimming pool tiling then swimming pool building. You dont have to do the work, just the hard graft in the beginning. Delegate and evaluate often.

[Anonymous No.17150915]

>>17150776

Tried multiple times. Just kept having to fire guys for poor work and slow speed.

People tell me this all the time but it ends up being much more stressful and less income. I realize what the final picture looks like but I can't make it happen.

Honestly I'm pretty bored of this shit I would like to do something else. I would even take a pay cut to do something I actually liked. Tiling is purely a paycheck for me. I don't enjoy it.

[Anonymous No.17151429]

>>17150544
Thanks. Activewear to be precise.

[Anonymous No.17151467]

>>17148458
How on earth do you plan on accumulating money with that?

[Anonymous No.17151488]

>>17148152
Business owner of 5 years, just bought out my partner recently since he tried to jew me and steal tech + stagnated the company's growth. Company is making 98.5% net profit atm while being fully remote, meaning a ton of room for growth.

[Anonymous No.17151555]

>>17150915
Trade contracting overall seems to be a more competetive area, considering even low intelligence folk have or are looking to steal your business. Perhaps try something with a higher demand to competition ratio. I know I probably wouldn't stay in that trade if I were you.

[Anonymous No.17151622]

>>17150915
what would you even do with 195k a year?

[Anonymous No.17151632]

>>17148152
Bout to sell my company I’m done with this shit

[Anonymous No.17151634]

i have my own business made $500 in revenue first year. wagie forever

[Anonymous No.17151651]

>>17151622
Not him but that's before expenses, taxes, etc. Realistically its probably 20-55% lower than that with cumulative taxes alone. It's about how much you keep, not how much you make.

[Anonymous No.17151673]

>>17151488
Wow that’s a crazy profit margin man. Tech? Mind me asking what kind of business? Don’t have to get into specifics.

[Anonymous No.17151681]

>>17151651
ok fine what would he do with the 140k a year he'd make from taking on more work or a risky very stressful career switch than the presumably 72k he makes now? Just buy more things? Or does he have some vision he's trying to accomplish?

[Anonymous No.17151682]

>>17151634
More than what Coca Cola made in the first year!

[Anonymous No.17151720]

>>17151681
You'd have to ask him to find out.

[Anonymous No.17151734]

>>17151673
Yeah tech, atm we do about $300k in net profit on a team of 4

[Anonymous No.17151754]

>>17151734
That’s insane good job dude. Once I automate my current business I’m going to start a tech/service startup. Have a crazy ass idea that I think could be huge.

[Anonymous No.17151770]

>>17149188
Mind elaborating on your product?

[Anonymous No.17151805]

>>17151754
Thanks dude, when you do it try and approach it from a super simple perspective. What i frequently see is people trying to do a lot at the beginning, and end up complicating their core product / dev process. This ends up making your life more miserable / more expensive and imo not worth it. Also finding top people who are good at what they do is 100% worth every penny spent. DO NOT consider ever outsourcing to somewhere cheap like India, they'll tell you it'll be done in 3 months but in reality it'll be 1 year. Ive seen that happen to a lot of people who just didnt listen to me on that point. Find high quality people, sure it'll cost more but you'll make 10x that if they are really good

[Anonymous No.17151869]

>>17151805
Where do I start from an app perspective? Like I said I have no tech background but I’ll need someone to build a really nice app for the service. And how do you make sure whoever you hire doesn’t go stealing your idea?

[Anonymous No.17151995]

>>17151869
Tbh no one really cares to steal ideas nowadays. Most people you either hire or contract will be focused on the thing youre doing, as long as you treat them well. You need to come though from a point of where you have all the materials ready (branding / business plan / initial capital) and so on and then approach them. If something isnt possible from a technical point of view, listen and understand and adapt. The product most likely won't need to be the exact way you envision it (and this is coming from someone who has designed some notable products that have millions of users). I have never experienced an issue, and I never sign NDA's either.

From an app perspective, you jot down all the ideas you have and then you carefully think about what things are absolutely critical to test in an MVP to see if your product can get users or not. You can always justify something to be critical, but thats why you need to take a what are the basic necessities that creates my core value proposition. Least amount of steps to get most of the way there. Reason is so you don't end up spending so much money building out features for an app that you might have to redo or abandon.

[Anonymous No.17152049]

>>17148152
me

good

i cant find any motivation to grow though. digital USD is worthless - I am secretly hoping for the happening so I can tell my customers that I only accept bitcoin, gold, silver and cash

The cost of having a bank account is nearly at the tipping point for me. With the bank account comes all the regulation - if I don't have a bank account i reduce my risk from government regulation and lawsuits

most days I just pretend to work. I have every """reason""" to grow my business - I have never even placed an ad. I could x4 my business if I really cared.

But in the end I would have worked my ass off and my health will suffer and I will just have fake currency in my bank account and I have to pay more taxes and take on more risk

Got sued for 12k cause some dumb boomer said he didn't get lunch breaks (he's a retard) so I had to come up with 10k retainer and 12k for the appeal bond... That's how much it costs to get my constitutional rights and see a real judge

[Anonymous No.17152061]

>>17152049
>hiring boomers
What were you thinking anon?

[Anonymous No.17152081]

>>17152061
definitely playing with fire

I have upped my game since then - I made stupid record keeping mistakes and this guy took advantage. Although he is still going to lose.

I recommend Gusto payroll

[Anonymous No.17152101]

>>17152081
+1 also recommend Gusto

[Anonymous No.17152135]

I sell a footwear product ama

>>17150544
Not sure if you’re being a dick or not but it’s actually extremely hard to be successful in that industry. If you were actually being serious, do the gene pool a favor and Kys

[Anonymous No.17152137]

what are easy businesses to set up for someone with no real skills

[Anonymous No.17152163]

Stupid question but how do you get into a business with a high upfront cost? Its my dream to own a vineyard but i dont see any way to make that happen unless im already a millionaire.
Land and equipment already breaks the millions dollar mark, let alone thing like grapes, utilities, employees, marketing, packaging ect. From my perspective it may as well be impossible.

[Anonymous No.17152180]

>>17152163
Get a loan from the bank or family member

[Anonymous No.17152208]

>>17152137
prostitution probably

I am in the service industry - so for me it really is about adding value. I know its cliche and I'll probably get made fun of. I don't know what other industries are like or how to be successful in them.

But in service if you focus on creating value -people will pay you.

I had to learn my industry as a low level work and the sales side. I am not even a good salesman.

I don't mean selling all accounts yourself because you are so charismatic and charming you can talk anyone into anything. If you can actually do that you are probably just better off being a salesman - those guys can really make bank. More than I make I am sure.

But even if you can't do that - you have to know enough about sales to set up a sales channel. It has to be easy to purchase your service - the process from prospective client to paying customer should be as smooth as possible and you have to know enough about sales to "lead" them into being a paying customer.

The sales technique to learn is "assume the sale." If you are shy/autistic it actually works better. Your whole operation should be assuming the sale the entire time to make it easy for the customer to hire you.

A good scenario would be a customer telling you "I can't believe it was this easy" - that is a good sign you are doing something that can scale up.

[Anonymous No.17152210]

>>17152180
Do banks really give out loans for that much? How does that even work as far as expenses go? You obviously need to make some kind of money to pay the loan, but you also need to pay for utilities and payroll. Do you get a loan big enough to cover all that shit for a little while?
Sadly i dont think any of my family is in a position to give me a loan, and i would feel weird asking them.

[Anonymous No.17152214]

>>17152163
Something I'd love to know too.

>>17152180
A bank will hardly give him a loan without any collateral and if he had any rich family memebers he probably wouldn't be asking this.

[Anonymous No.17152247]

there is no way a bank is going to give you a loan just based on some idea you have.

banks are relatively tight with money - they really are really just interested in your cashflow. Which is funny because they don't seem to care about profit too much

[Anonymous No.17152262]

>>17152163
can a vineyard be leased?

if you can convince someone with these assets that for some reason you can run the operation better (can you?) then they would let you run the business

Like that Gold Rush TV show where sometimes miners let other miners mine their land because if they are a good operator they will make them money

[Anonymous No.17152277]

>>17148152
Own a small hostel in a fairly popular mountain resort.
Got the building for cheapsies as it was a rundown shithole, nice area with good view tho. Sold everything i owned (overvalued shitty apartments in city center, bought with wageslave moneis when cheap), invested in renovation of said building, made it hippie-hipstery, restored furniture, old rugs, super chill atmosphere.
Turnover around 30K first year (mistakes were made), 80K second, now into our third we'll probably do 120K up until we'll reach around 200K at 5 year threshold.
I run it with the wife, have 2 employees for cleaning.
Life is cheap and wholesome. Air is fucking FRESH, zero pollution, no sounds except for the birds and wind. Get to meet nice people that enjoy the mountain, made alot of weird friends all over the world.
Left the city life treadmill and it was the best decision i ever made.

[Anonymous No.17152289]

>>17152163
>>17152262
Look for a distressed vineyard or somebody that has the land but isn't doing shit with it

tell them you will work for free until its successful

(if you aren't prepared to do that then you really aren't bringing much to the table)

[Anonymous No.17152323]

>>17152262
I would assume it could be leased like any other farmland. Id like to think i could run the operation well but the only way to know for sure would be to do it no?
>>17152289
I suppose thats always an option. Id need to find a place with vineyards though. How would that negotation go down, "let me try my hand at growing for a while and if its successful cut me in?"
I get out of the airforce in a year so i want to start planning more seriously. Im not tied down to anywhere so i can move to wherever and ive got a decent amount in savings to live off of if need be.

[Anonymous No.17152342]

>>17152289
>>17152262
>>17152163
DO NOT FUCKING BUY A VINEYARD FOR PROFIT
FUCK WINE BUSINESS
FUCK VINEYARD
FUCK EVERYTHING ABOUT IT
THE ONLY REASON PEOPLE THINK ITS VIABLE BECAUSE TRUST FUND BABIES SINK THEIR DADS MONEYE ON IT

[Anonymous No.17152350]

>>17152323
i don't know man it would be a long shot for sure.

But properties that are handed down, 3rd generation especially - there is a high likelihood that they won't have any motivation or skills to run a business.

They can hire managers, etc.. but a business needs a real entrepreneur - if you find a vineyard without one then you have something they don't (if you are an entrepreneur)

[Anonymous No.17152379]

>>17152342
Friend i appreciate your passion but could you elaborate?
Now im not really studied up on this and i know its a risk but i dont see it as a terrible idea. Obviously you can sell wine and as a back up of so inclined i could see doing like a B&B thing for yuppies. They always seem to love going into the country for a getaway or some shit.

I can also understand most being a pet project for some new money kid to waste it all on.

>>17152350
Like i said thats the dream eventually. Just turned 25 so i might have a few good years left to make it happen.

[Anonymous No.17152396]

>>17148152
FUCK U GARY VAYENKEK U ARENT /COMFY/ AT ALL , WHEN I SEE YOU , I'M REMINDED OF FLORESCENT BULBS AND PLASTIC CHAIRS. FAGGOT! MANLET

[Anonymous No.17152423]

>>17152379
In wine making you rely on too many outside factors, none of which you are in full control of.
-Nature
-Government regulations
-Buyers

Buy a vineyard if you want your grandson to make money. I had seen too man of them running on a loss, or only profitting after years and years of work. Not worth it
The ones that really prosper are those retards who ''love wine'' because they are able to sunk thousands of dollars of their investment banker daddies money into it.
aka its their ''pet project'' if you go with that mentality you will be fucked.

[Anonymous No.17152507]

>>17152423
Understandable. Il heavily consider what you said because its also concerns that ive thought of. Maybe one day when im older i can get enough land and money to have a winery as a hobby. Then if its not profitable its not a big deal because its for fun and self satisfaction.
Kind of remind me of something from hells kitchen, a couple had a beautiful beachside hotel/resturant and they loved the idea of what they were doing. They were treating it like a fairytale instead if a business, i dont have pockets deep enough for that.

[Anonymous No.17152532]

>>17152277
sounds comfy and nice double dubs

[Anonymous No.17153446]

>>17152277
yeah, but is your wife hot, younger than you, and feminine in her demeanor?

[Anonymous No.17153462]

>>17152081
>Gusto
^

[Anonymous No.17153591]

My wife and I took a commercial lease on a warehouse then i tricked it out to create a bunch of smaller rooms which we sublet to artists/producers/other random shit on a monthly basis. then a small and large venue/maker space and then it had a 3br house up top with a sweet music studio on the mezzanine i extended. i probs dropped about 50k of capital or capital worth into it and about 3000 hrs of labour. The plan was to pay ourselves back by not paying any rent for our pad and then to grow the venue spaces and produce shows ourself. My wife got sick at the beginning of last year so we had to up and leave and move closer to family just as i finished the pad. Now the set up is that the dude we got caretaking sublets the two venue spaces and the pad for the price of our rent at our new home.

I don't really know what to do with it at this point. It's in quite a good location in Melbourne and I see a lot of potential with it but part of me kind of wants to just sell it to him after a bit and put my money into something closer. Does anyone know how much you're supposed to sell a business for? he pays us $3100 of which $1700 is profit but probably makes a couple of grand on what the space enables in his businesses.
I did a fringe festival kids show that i wrote and directed and performed in with some others and it was a success as a production but not monetarily. my heart wasn't really in it with everything that was going on with the missus but if I could pull it off again now that I have the show, I reckon i could net $10k from spending about $2k, or if i threw a ticketed party in the back space and run a bar with a temporary liquor licence I could probably rake in about $25k in one night but I dunno if I will do either of those from 2000km away now.

[Anonymous No.17153757]

Started an onlinestore years ago. I import HVAC accessories from Italy and handtools from Japan and sell them in Germany and rest of Europe.

Its very tough
- 10-12hour workdays
- no long vacations(1-3 day citytrips max.)
- dating is difficult - 80% of girls in their 20s would rather travel the world instead of building a company
- managing employees can be a pain in the ass
- You need to constantly coldcall businesses to grow

I am 30 now, have a permanent tinnitus and my hair gets grey. But I dont want to go back to 9-5 ever. You have to be very autistic to have your own business. It is not for everyone.

[Anonymous No.17153815]

>>17148152
I have been supplying products to retailers for a while and have just opened up a shopify store. Trouble is driving traffic to my store. I have a fb and insta page which are quite new but updated weekly. I ran some fb ads but none have really been that profitable, though I do get some traffic.

Any advice on how to promote the store? I think my SEO is pretty good. Is it just a waiting game? website has been live for about 3 months now.

[Anonymous No.17153867]

>>17153815
i started out with selling on Ebay and on Amazon first. I put flyers with couponcodes for my own store to all the Ebay and Amazonorders to get traffic to my own store.

[Anonymous No.17153963]

I own lots of crypto assets and i trade as well, that's my business, Tachyon protocol is a fantastic addition to my incredible portfolio.

[Anonymous No.17154502]

>>17151622

The guy was married with a sexy little wife. $500k house and there were 2 new cars in the driveway. He did not seem worried about anything.

[Anonymous No.17154772]

>>17154502
I hear you anon, I'm a self employed carpenter and recognise some of your shit. you should find a product out of your niche (tiling material or other work related stuff) things you know, and start an online business with it. For me I found a wood related product on Pinterest, contacted a Romanian guy who could make it for me. the test is successful and now I'll try to sell more in Europe just an idea for you

[Anonymous No.17155247]

>>17154502
My family makes custom cabinets and the mininum client's house is worth 500K, most are in the 1-3M range. I've done work for people worth 500M+.

Trust me when I say this, but there's always bigger fish in the pond.

Our family probably nets ~800K from the business now, and 15 years ago I would have been shocked to see a <35 year old making $200K/year, nowadays that's the new normal, and you have to realize a lot of these guys come from money. The guy that we worked for that is worth 500M+ put his son on the board of directors so he could collect big paychecks for doing jack shit and pad his resume. His son works for a hedge fund now that a lot of people have probably heard of. He was a C student in high school.

[Anonymous No.17155921]

>>17155247
>he guy that we worked for that is worth 500M+ put his son on the board of directors so he could collect big paychecks for doing jack shit and pad his resume. His son works for a hedge fund now that a lot of people have probably heard of. He was a C student in high school.
Well, wouldn't you? I'd definitely give my kid a bullshit position if I was rolling in it. People who say spoiling kids ruins them are just sour grapes who envy the money. Parenting and education are far more important than some boomer-tier "work hard and pick yourself by your bootstraps" memery.

[Anonymous No.17156348]

Anyone in here know how to get an educational plan written? Who do I go to for this-maybe a proffesor or something?

The basic idea is to sell cheap chinese drone building kits to schools to replace current robotics programs in place and hopefully eventually expand to colleges and maybe like military contracts. I know the basics of drone building but don't know how to put together a 10 week~ course on one.

[Anonymous No.17156381]

>>17151622

That isn't THAT much anon. A lot of doctors and higher tier professionals are more around 250-300k. If you live in a high CoL area that goes into normal expenses, if not you can save a lot of it to retire early or build some generational wealth.

It's not like you're part of the yacht club already

[Anonymous No.17156477]

Are there any business ideas for a uni student? I'm really desperate for money right now and would love to find a way to make money on my own as I can't seem to get a job.

[Anonymous No.17156536]

>>17149438
kys timo

[Anonymous No.17156548]

Who wears a beanie at 40

[Anonymous No.17156566]

>>17152507
I help my retired dad with a hobby vineyard, it’s hard work honestly. One of his friends is a caretaker of a rich persons 200 acre land and they get tax breaks for agriculture on it. So they let us have our 48 plant vineyard on this mostly uninhabited land. The first two years after you plant/build fence/ trellis etc the grapes have to grow before they’re good for wine, unfortunately there was a frost in the third year and we lost almost everything and had to plant. Now after five years this summer we bottled over a case for the first time and we expect it to be quality wine finally lol. We would have to sell this as unique micro winery bottles for like $5,000 a piece yo make up for the effort that was put in between just a few dudes for fun.

[Anonymous No.17156785]

Does anyone here do insurance adjusting? I have some family friends that do it and after knowing what they go through, I'm considering creating a business to come up with tech solutions for some of their work.

[Anonymous No.17157274]

>>17153963
Fucking pajeet

[Anonymous No.17158084]

>>17152396
Garvee is a Chad

[Anonymous No.17158159]

>>17148152
>the one I have a 33% stake in
going to shit
>the one that's purely my own
doing alright

[Anonymous No.17158922]

>>17156785
My buddy does, he’s looking to start up his own after having record sales. What are some of the issues your friends are having?

[Anonymous No.17159024]

>>17158922
Not neccesarily issues, but I see a few areas that maybe could be made more efficient. They've started flying drones so I was thinking about creating some software to help fly them and designate certain gps points instead of manual control. Also with the reports they write all the time Ive thought about writing a program to help those be written faster, since it seems like they type a lot of the same stuff over and over. Then again, there may already be software solutions out there. Its just something I've thought about passively on and off the past year.

[Anonymous No.17159216]

How to start a business with little risk capital, anyone doing fb ads without own product etc?

[Anonymous No.17159612]

>>17148152
Did an incubator in silicon valley, did a lean startup, exited last year w/$700k. Not bad for hustling for 3 years.

Do an incubator!

[Anonymous No.17159635]

>>17159612
Fwiw incubator got us $50k seed funding and great mentors.

[Anonymous No.17159663]

>>17148938
You could start by not being such a pussy

[Anonymous No.17159722]

>>17159612
Also, best process imho is rapid MVP testing with CTAs to gauge interest and early customers. Use bmfiddle for canvas. Get profitable as fast as possible if MVP testing comes back positive against assumptions.