/biz/ - Business & Finance

[Anonymous No.9330245]

Haven't been on 4chan for a few years. Fuck me - what a shit show it's become. /b/ is cuckold, /biz/ is crypto and /soc/ is craigslist personals.

Anyway, let's talk shop.

> What business success do you have?
> What business failures do you have under your belt?
> Revenue / Profit?
> What's your next step?

[Anonymous No.9330264]

>>9330245
get off my board boomer

[Anonymous No.9330292]

>>9330245
I'll go first.

> What business success do you have?
14 months in my first successful venture, been a fucking wild ride but it's taking off now.

> What business failures do you have under your belt?
A crypto gambling site - the regulations scared me off.

> Revenue / Profit?
Currently I have:
~ $40k per month revenue from biz
~ $11200 per month pre-tax from job
~ Varied dividend payments throughout the year.

> What's your next step?
Outsourced my day to day operations of the business, should have done this fucking ages ago.
Working for another year while my gf finishes her registration then going to try the digital nomad thing

[Anonymous No.9330322]

>>9330292
whats your job?

[Anonymous No.9330334]

>>9330322
Mining Engineer

[Anonymous No.9330335]

>>9330245
Are you really gonna ask for this response layout and not answer it yourself? Nice larp faggot go back to /b/ and /soc/.

[Anonymous No.9330353]

>>9330335
Answered it already ya cunt

[Anonymous No.9331073]

>>9330245
Why were you away for a few years OP?

[Anonymous No.9331305]

>>9331073
Got busy with life my dude. Wasn't a particularly conscious decision but before I knew it I stopped gaming / trolling / procrastinating and started being more productive with my time.

[Anonymous No.9331411]

Yea
Because back in the day 4chan was a respectable place.
You have become a borg
Everyone thanks you for your opinion.
Go back to playing half-life

[Anonymous No.9331438]

That’s cool
But you don’t have to think of everyone here as a loser.

[Anonymous No.9331503]

>>9331411
>>9331438
All that fucking salt in your eyes must have made you misread something. Never once said anyone is a loser, sorry if a single post outside of the norm triggered your insecurities. Don't know what a borg is and probably better off not knowing and I've never played half-life.

Just wanted to start a business thread in a business forum - pretty out there, I know.

[Anonymous No.9331545]

>>9331503
There's only coin cucks here now, friend.
I still lurk biz every now and then but in the old days there was so much more quality threads. Not like that anymore.

[Anonymous No.9331672]

>>9331545
Yeah fair enough. I get the crypto trend - I "traded full time" for 2.5 months, put some winnings in a crypto index fund and got out. Fun while it lasted but the public communities are toxic, full of circle jerking and baseless for the most part.

Yeah unfortunately deteriorating quality in posts seems to be an issue with any long lasting forum or perhaps its just nostalgia hyping up the past. Just want to spread the wholesome message that while gambling with crypto (yeah, that's pretty much what they're doing) is fun and may provide short-term easy rewards but a bit (a lot) of hard work and implementing a plan is MUCH more sustainable.

A successful business is where you put in $1 at the top of the whole machine, the business does what it needs to (provides a service, sells a product etc) and then after all costs are considered an amount greater than $1 pops out at the bottom. Return on investment.

My marketing efforts are now consistently achieving >100% ROI over a 2 month return period (roughly $60 to acquire a new customer, make that back on average in profit within 5 - 6 weeks), month after month and I'm nothing special.

I hear you fags shouting bullshit, if that was the case I'd be a billionaire by now, but scalability, quality control, systems etc all mean that you can't just throw $100,000 into a small scaling business and expect $200,000 in 2 months. It takes time to snowball.

If you put spun these are returns in a different light using crypto buzzwords, people would shit their pants but because it takes hard work and possibly a few failures they just pretend that this opportunity has never existed.

For all those who want some advice or unsure how to make the leap, I'll be here to chat.

It's never been easier.

[Anonymous No.9331726]

>>9331672
what kind of business can someone with capital but no real discernible skills start?

[Anonymous No.9331799]

>>9331726
Plenty man. Be careful not to let the capital get to your head. It gives you the luxury of throwing money at problems and while sometimes it may help, often it's just a bandaid for a more permanent issue. Many businesses could more than likely be started on, or at least proven in concept with less than $5,000. I had my business up and running in under $1,500.

Start lean, prove the concept first (as in, find a customer for the product or service even if you DONT have the product or service in place yet).

As for you having no skills - you'll have to learn and google is your friend. At the very least you'll have to learn what resources are available to you. In particular learn how fucking amazing the global economy is. For example if you want a basic website which would cost you $5000+ in the Western world you could build that same website for $1500 by outsourcing overseas. Do not be intimidated. Google.

I would save your capital for your second venture and with no skillset try something like eCommerce, Amazon Merch or a local service business.

[Anonymous No.9331816]

>>9330245
>bought nano at 10c
>bought req at 80c
>passive income from my masternodes about 130usd/month
>buy heronode.io ico

[Anonymous No.9331837]

>>9331816
Awesome dude, I love passive income streams. I got on RaiBlocks (Nano now) at $0.9 and it's personally one of my favourite cryptos. Got fucked over some by BitGrail and learnt my lesson. Good luck to you.

[Anonymous No.9331931]

>>9331799
For e-commerce my understanding is that most people do dropshipping but it seems like the customer service and returns are major hassles. Is there a way to get into ecommerce w/o alibaba and such?

[Anonymous No.9332300]

>>9331931
Absolutely. eCommerce just means you're setting up an online shop instead of a phyiscal store. How you procure the items you sell is 100% up to you. You could make them yourself, source them locally, ring wholesalers, steal them. Whatever. There are no rules here.

Drop shipping is appealing to lots of people because you don't have inventory and shipping logistics to deal with. These might be more hassle than the original issues of customer service and return issues you're trying to solve.

Don't be scared of a few obstacles and some hard work. There will be issues and hassles no matter what venture you start, but the vast majority could be overcome with persistence alone.

On another note, customer service is probably the first area I'd outsource (I've done this myself) so once you scale you could delegate that fairly soon to others.

[Anonymous No.9332344]

>>9332300
I'm OP just at a different spot

[Anonymous No.9332395]

>>9332300
How do you go about finding a product to sell?

[Anonymous No.9332406]

>>9330245
> What business success do you have?
7 companies with majority holding
> What business failures do you have under your belt?
nothing I'm a lord of hedging
> Revenue / Profit?
company wise in millions personal in 100k dividend income with almost no tax other than state
> What's your next step?
to sell my holdings in 2-3 years and focusing on gardening

[Anonymous No.9332466]

>>9332395
Plenty of resources that would do a better job of explaining it than I do. You have to find a target market but also look at the picture as a whole. For example if you have 5 people that buy a product in a year, you think that would be shit. If you were the only one selling the product and the product is worth $100,000 well then it's not so shit.

Factors to consider are:
- Demand
- Selling channels (Google, Amazon, Forums, existing customer base etc)
- Competition
- Profit per sale
- Shipping costs
- Length of fascination (is it a trend?)

[Anonymous No.9332483]

>>9331672
I want to start my own business someday. When is the right to start? Still a computer student eith little work expirince

[Anonymous No.9332560]

>>9332406
anon, can you help me get a job?

[Anonymous No.9332585]

>>9330245
/biz/ is actually far better than it was 1 year ago when crypto was peakiing.

> What business success do you have?
Successful wagecuck
> What business failures do you have under your belt?
Successful wagecuck
> Revenue / Profit?
$4k per month
> What's your next step?
Trying to start a /biz/ instead of being a wagecuck

[Anonymous No.9333172]

>>9332466
That makes sense but I dont understand how you find products to sell. Like you find a need/niche first and then find a product that would fill it, then you find a manufacturer, order some then build a site and try to drive traffic to it?

[Anonymous No.9333189]

Guess how I know this is a larp and you're actually a newfag? /biz/ was always a crypto board.

[Anonymous No.9333204]

I graduated last year as a physiotherapist, set up shop a few months ago in a gym. Also working part-time in another physio practice.
My own practise is not really taking off, I notice that I'm slacking. Not really doing a lot of marketing and I kinda enjoy workslaving at the other practice. Only put a few thousand in my own practice but I hope I didn't make a mistake.

[Anonymous No.9333279]

>>9330245
> What business success do you have?
I made my own wholesale business, now I've got 2 employees, I only need to work like 5 hours a week max
>> What business failures do you have under your belt?
nothing yet
> Revenue / Profit?
after taxes and everything $50k a year, but I live in eastern yurop, so comparing this to the usa in terms of purchasing power and gdp/capita it's like ~$250k / y
> What's your next step?
getting more and more wholesale customers, so my business grows, nothing interesting or unusual

[Anonymous No.9333413]

>>9332466
can you email me at [e-mail]
would love more guidance
thanks op

[Anonymous No.9333774]

>>9332560
we are at full employment just relocate to the city

[Anonymous No.9333811]

>>9332483
No one is going to tap you on the shoulder and say "Now's a great time. Everything will work out if you start right now."
Find an end goal, a dream life, or a life you want to build for yourself. Use that every day as motivation and that will be your tap on the shoulder. Fake it till you make it. I didn't have any experience in my field of business until I started.

>>9332585
Yeah I can only imagine. I have nothing against crypto and blockchain as tech and investment vehicles themselves but rather the toxic shilling and baseless logic that people are choosing TO invest.
Nothing wrong with a wagecuck, be smart with your investments and you'll be wealthy in the long run.

>>9333204
If I could go back in time, I probably wouldn't have done my two degrees and instead focused on marketing and sales. It's undeniably the single most common element in all successful businesses. If you don't enjoy it then fair enough, call it a learning experience and move on to the other practice. Otherwise I emplore you to think of better marketing tactics (Local website with local SEO, Google AdWords, Facebook targeting) to get your business off the ground. Build a brand around yourself and build your name up. If you decide to close the business down the line then at least your name and personal brand has built value.

>>9333279
Love the hustle man. A lot of my developers are from Eastern Europe and their work ethic, communication and abilities are amazing at a fraction of price. I'd like to live in Budapest or somewhere in Poland for a short while to enjoy the purchase power that my income would provide.

>>9333172
>>9333413
There are a million and one ways to go about this. It's all about "testing the market" and there are no clear cut steps. My market was saturated so I took that as a good sign and went forward and differentiated myself. I don't have much experience in selling actual products so I can't help you much beyond saying that there is plenty of help out there!