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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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592123 No.592123 [Reply] [Original]

You have two hours to ask an 18 year old that dropped out of first year of University to pursue his dream of enlarging his already steadily running business (I make 2,5x the average wage in my country, I work 1-3 hours each day). Within the end of next year I will make it 10x the average wage with the same workload, I devote most of my time to read books/spend time with gf and family/do sports.
I live on my own.

I will gladly show you any proof that you ask for. Any questions are acceptable.

>> No.592124

The hell is your business about?

>> No.592125

>>592124
/thread

>> No.592126

>>592124
Trading office. I live in a rather small country (10m people), I import products that are popular worldwide but not yet here.

>> No.592129

Whats the average wage in your country in US dollar terms...Whats the country's name

>> No.592131

>>592123

how did you start off?

>> No.592134

>>592126
Lives in a shit hole 3rd world
Claims to be an entrepreneur

You should get back to school before the Dindus caught up with you and take you out of business.

>> No.592135

>>592129
1016 USD taxed, monthly. I wont tell the name, its in middle Europe.
>>592131
In a very small scale, I started 1 year ago by making absolutely nothing for the first few months. It grew on its size rapidly in the last three months and will keep growing since I only signed just one contract with first large retailer yet.
10x the average wage monthly is a normal prediction for the next new years eve based on how did things go in the last few months.

>> No.592137

>>592134
where are you from if I may ask?

>> No.592140

What was your capital when you started?

>> No.592142

>>592140
First initial 2k came from my savings (imagine sending your whole childhood savings to some random distributor 1 month prior to even seeing the goods arrive - I was lucky I didnt got scammed).

As the business grew, I had to take loan from my friends father, a family friend, I know him for a very long time.

>> No.592144

>>592126
What advantage do you have over competitors?

What are the long term prospects for the business?

What if the business dries up and you are left without a university degree?

How do you intend to secure your business for the long term?

Have you considered accumulating capital, networking diversifying and extending your business into other areas to secure long term prospects?

>>592134 is a spider, don't trust him

>> No.592152

>>592144
My attributes (very well read in philosophy - this has given me a completely different perspective on the world than my peers have. The actual reason of me dropping out of Uni was to have more time to read philosophy).

The long term prospect is to widen my range of products, develop my own brand (I am in process of making a website for it), probably rent some billboards in the soon future.

That is a hypothetical question, it has no reason to "dry up". I got a great CV after this overall, it would be no problem for me to get a job at some shipping company.

I am building a very strong, almost friendly relationship with my supplier. We met in real life, we write each other friendly e-mails - he takes himself as my mentor. I really liked his personality, I aspire to be almost as rich as he is in the future.

The capital needs to stay in this business for atleast a one year to actually be big enough to get diversified into another fields, altough this is a very good point. This was the main reason why I made this thread - to listen to interesting questions from people like you, thank you.

>> No.592155

Is your product niche or a highly conaumed one?

How do you distrubute imported stuff?
Here where I am from taxes kill startups(spain)

>> No.592159

>>592155
Its inbetween niche and highly consumed one. Its a better alternative (healthier) for a product, that everyone (literally everyone) uses.

I have a contract with two logistic companies, one handles smaller outtakes, second one handles bigger outtakes. It is dirt cheap.
Which taxes do you mean exactly?

>> No.592161

>>592152
>The actual reason of me dropping out of Uni was to have more time to read philosophy).
I love philosophy but I am sort of the Epicurean type not the 2edgy4u nihilist narcissistic type (not saying you are, just saying), I try to be practically minded, I would not have dropped out of uni just to study it harder, you could have studied whatever you were studying in uni now and studied philosophy afterwards. I am about 95% sure this was a mistake. I would be 99.9% sure if you didn't have a business that you could run.

>develop my own brand
I assume this means you want to become a kind of retailer yourself, maybe through mail order, as opposed to importing goods and trying to sell them to local brick and mortar retailers. The internet would probably be an important tool for this and you would have competition from amazon/alibaba type companies. Don't know.

>it has no reason to "dry up"
There might be a reason but you are simply unaware of it, like the stock market before the 1929 crash. You said earlier you want to widen your range of products so I think you have this reasonably covered.

>I am building a very strong, almost friendly relationship with my supplier.
this is good, learn as much as you can

>This was the main reason why I made this thread - to listen to interesting questions from people like you, thank you.
it seems like you can handle criticism, if 4chan trolls can't make you mad then you can withstand anything

>> No.592162

>>592152
Also, reading that you have a mentor, I am now only 40% sure you made a mistake.

>> No.592172

>>592161
In Uni I was studying programme called "international business". I put the application on the University a year ago, at the time when I didnt really knew whether the business that I was starting to work on will actually turn good enough for me to live without Uni. I make decisions that come out of long thinking so I applied for it. The business started growing, I learnt a lot about international business and I was thriving to use something that I have learnt in school in my business. All the lessons werent related to it whatsoever, so I found a girl two years above me that studied the same subject. We started going out, she was a straight A student (very smart), we talked a lot about school and its usefulness. Keep in mind that I live in middle Europe and Universities here are overall at very poor quality. She encouraged me to drop out of school, but unfortunately we broke up a few weeks before my drop-out (she was ready for a long-term relationship).
I found some random chick offering her books from whole five years on the University to whoever calls her first (I was in a facebook group filled with people from the Uni), and I was lucky enough to be the first one.
I went through the books (65 books) and I found one (literally only one book related to international business that we were supposed to study) that was named "International business". I went through it, the book was filled with old information, techniques that are no longer used, etc.

I suppose you have read Epicuros - On happiness, maybe few other books related to epicurean lifestyle and you have set your point of view on both life and philosophy (this may also not be true, Im just assuming and I want you to correct me).
Ive spent most of my free time in the past 2 years reading and thinking about philosophy. I have gone through atleast 25 philosophical books books (Plato, Aristotle, Nietzche, Machiavelli, Schopenhauer, Freud) in the past two years - cont.

>> No.592175

>>592126

I recognize you faggot. You often write here since the last 2 weeks or so, always claiming to have a different age with your "10m people country" signature move.

>> No.592179

>>592172
- cont.

I am writing my own texts, I would love to be a full-time writer and thinker but its too big of a risk for me to take right at this moment. I do this business because of its very small time requirements - I got very lucky when I look back at it right now, it seems like the business is too good to be true.
Im trying to make money at such a young age to devote my whole life after 25 years to philosophy without having to worry about my material needs. 5 years of Uni are simply too much of a time to be spent there for me.

I am not looking to be retailer myself. I import food products and I have my own brand for people to get used to products from my brand, and since I import mostly "new" foods, I want them to trust my brand to always keep trying out the new things that my company imports.

>>592162
We are in the process of making a new trading office together, he is from Australia, our personalities really fit together, he offered me to go visit him and work with him in his office for a while to learn some tricks and I most likely will do so in the next summer.
His year revenue is in millions of dollars, he only wanted to finish the first business that we had together (my first import) just for the sake of "karma" - he said this.

>> No.592182

>>592175
I post on and visit /biz/ from time to time, but I havent been here for quite a while.

>> No.592524

>>592179
Hey OP, u are a successful person. Good luck with ur life brothah and thanks for this inspiring post.

If its not too much to ask, what's your industry?

In 15 days I am about to have probably most important meeting of my life and your story kinda gave me a new idea ;)

>> No.592526

>>592159
I mean import taxes/duties from outside EU.

Here where I live these motherfucking bureaucrates literally grind each and every cent out of margins

>> No.592527

>>592182
Just ignore fucking trolls. They can't(won't) do meaningful shit in their lives and they believe no one else can

>> No.592539

>>592123
Are you from Hungary?

>> No.592600
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592600

>assuming you know for a fact that in one year you'll go from an american restaurant server's income to a manager with ten years' experience income

>> No.593836

>>592123

> "I will show any proof you ask for"

Sharpie in pooper.

>> No.593838

>>592123
Tell us what the product is

>> No.593841

>>593838
Not OP but fairly sure it's e-cigarettes/vaporizers.

>> No.593853

Who is your product such a bit secret, considering you said it was fairly popular worldwide.

>> No.593854

>>593853
Why*

>> No.593862

>claims to live in central europe
>claims the average wage is 1000USD after taxes
Youre not central european you fucking imbecile. Youre from fucking eastern europe. Probably Czech or Hungarian.

>> No.594167

>>592159
Water filter?

>> No.594189

>>592135
It's belgium

>> No.594471

Are you selling dragon dildos in czech republic?

I always knew the wealthy ones think differently. Great work.

>> No.594997

>>593862
Czech Republic definitely, people there see their country as Central European, wages and population match up as well.

>> No.595054

Woah woah, was for sure you were gonna say penis and not business. I spend too much time on /fit/.