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Ask questions related to TRP, dating, life advice.
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Created By bambinosupremo
Ask questions related to TRP, dating, life advice.
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no_shops_no_masters 5y ago
*What does your business consist of? (Without going in too much detail if you don’t wanna share) I am a tattoo artist working in my own private studio.
*How much money did it take? Supplies, tools, business overhead (rent/licencing/etc.) all cost about 3-5K. Training and skill development took years of unpaid work and constant practice.
*Are you doing your business full time now? No, it started out as a hobby and has grown to a part time job over the last few years. Ny regular job in research is very interesting (as well as great health/retirement benefits) so there is no incentive on my part to quit and tattoo full time.
*Would you ever go back to working if your business failed or start another one? I have never put all my eggs in one basket. I always have had at least two jobs or side hustles for this exact reason - you can always fall back on a solid, soul crushing 9-5 gig while you're building yourself and growing a business. I like having the income from both, and if one fails for an unforeseen reason I am not left without an income stream.
*How did having/starting a business change your life and the way you interact with others? I became much better at communicating with people than when I started. I had to become firm with my expectations and boundaries. I had to learn to work with a client on their artistic ideas in order to render them into designs that translate into good tattoos. I learned a lot about how people will waste your time if you let them, and how to read from interactions whether people are genuinely interested in your skills/product, or if they are just stealing oxygen from the room.
As an addendum to this, my entire business is word of mouth (I do not spend anything on advertising) - this has afforded me some interesting social opportunities. People who I have never met in my city know who I am, my social status has increased by orders of magnitude, and I have a reputation and mystique that precedes me in social interactions.
*What things did you have to change about yourself to start a business? What things did you have to give up? I had to unlearn people pleasing behaviors, become more upfront with my expectations, and more firm with my boundaries. I had to become more organized with my time, more clear with my goals, and more dedicated to my art. I became much more frugal with my money, much more organized with my time, and much more satisfied with how I spent my downtime/free time. I had to give up comparing myself to others (which is a downward spiral), and learn to be ruthless with self-improvement by only comparing myself today with myself from yesterday/last week/last year.
I had to give up a lot of long time friendships that weren't congruent with my mission and goals. Evenings previously spent listening to records, bullshitting about nonsense, and cracking open cold ones with the boys are now a luxury I don't even miss. I would much rather be reading, relaxing, or working on art. I had to give up big portions of my ego - situational anger, frustration, and entitlement no longer shake my frame.
*Anything else you would like to share. I didn't set out with the goal in mind to start a business. I had an interest and hobby which fueled by passion and and disciplined self-improvement positioned me to to recognize the opportunity to meet an unserved need/niche in an over-saturated market. Nature abhors a vacuum. When I started years ago, I was only person in my area serving that niche market. Others began to imitate and infiltrate this market, but I've stayed relevant and profitable by keeping myself humble, disciplined, and true to myself.
TRP principles are applicable in all aspects of your life - it's repeated ad nauseum here that if you're internalizing and practicing the sidebar principles, the same principles are applicable to achieve results in whatever sphere you apply them.
If anyone requires further clarification or questions please feel free to PM me :)
Lambdal7 5y ago
Before you want to start a real business or a tech startup, you should try to start to start 10 mini businesses throughout high school and college to learn how it all works.
Try small things like
Each of these small business should only take you a few weeks to get off the ground and you should quit it as soon as you see it’s hard to get it to make decent money ($50/h of your time).
Then, after college or in your late 20s/early 30s, you should have enough capital/social skills/network/experience to launch a larger business quickly.
The thing is, even if youre a top business graduate from an Ivy league university and you start uour first business without any prior experience, you will fail for 3 years.
If you already have experience and made all the mistakes, then you can build your prosuct quickly without all the bullshit, don’t listen to friends and family who have no idea of business, but want to give you tips all the time and get traction quickly or see that you need to change it.
[deleted] 5y ago
Where do you find Indians to program?
Lambdal7 5y ago
Upwork.
xrKles 5y ago
This
creating_my_life 5y ago
Technology.
About a half a million in cash and 4 years 1 1/2 FTE.
Yep
Either. Working for someone would be easy and comfortable.
I have little tolerance for lack of ambition or passiveness now.
Significantly more discipline. Ability to have uncomfortable conversations. Willingness to abandon bad ideas or people.
Comfort, luxury, security, a social life, etc. You're all-in.
Most small business owners I know wouldn't do it again. Too much work and risk, not enough payout.
[deleted] 5y ago
Hire me after I’m out of college
DanielAPO 5y ago
"I have little tolerance for lack of ambition or passiveness now."
I relate so much to this.
InstigatingDrunk 5y ago
what field? what made you think "I can be my own boss"
creating_my_life 5y ago
I had been doing a side project for a client for a while, and that had been going well. I saw a gap in the marketplace and decided, "fuck it, I'm going to give up a few years of income, blow through all my cash and then some, and buy shitty health insurance and see if I can make something here."
so, yes, several years and lots of cash later, I'm now making what I could have been at a job, but it's a deep hole to dig out of.
Oh, I'm also really fucking good at what I do, and pretty good at sales & people.
nabosch 5y ago
What does your business consist of? (Without going in too much detail if you don’t wanna share) Digital marketing, primarily paid social advertising and Google Ads.
How much money did it take? About $500 for my website hosting and to organize as an LLC in my state. I built the website myself so saved money there.
Are you doing your business full time now? No, this is a side hustle to my full-time job which is also digital marketing at a local agency. I do the same thing I do both at work and at my freelance side hustle.
Would you ever go back to working if your business failed or start another one? I currently am working.
How did having/starting a business change your life and the way you interact with others? I've always been charismatic and willing to talk with anyone which carried over very well to business. Being the CEO of a small business and feeling that sense of accomplishment through self-reliance and making your own cash is a huge confidence boost. It's a major drive to work for myself one day and set my own hours so it's a good start. I walk taller on Saturday night knowing more than 90% of the people out here are doing less than me.
What things did you have to change about yourself to start a business? You have to be organized, especially with your time management.
What things did you have to give up? I don't watch TV or play video games unless it's much needed to decompress. I don't go out as much anymore since I'd rather be working on my business.
creating_my_life 5y ago
Make sure you have a written agreement that states your current FT employer has no claim to your side business. You might be in for a surprise. Just make sure they know about it and consider it non-competitive.
nabosch 5y ago
Yes, definitely this. I did tell my employer about it and made sure everything was G2G with them. I have my niche that that doesn't overlap with theirs. But very important to get this squared away.
lovs2spuge 5y ago
With a small loan of one million dollars from my father.
DntPnicIGotThis 5y ago
something not woman related finally
edit: very insightful
downvotesanimals 5y ago
I run an engineering consulting business.
Luckily, engineering businesses have very little overhead. I began working out of an office in my apartment. I needed to purchase some codes, software, computers, licenses, etc. Likely less than $10k to get things up and running.
I run the business full time.
I wouldn't go back to working for someone else if I could possibly help it.
It hasn't changed my interaction with people much at all. Only to some degree if I know I'm talking to a potential client, but my approach is to not be overly pushy since I can't stand those types of people.
I had to learn to take on new challenges I hadn't expected, to learn different skills and to generally be much more flexible than I thought I had to be when diving in at first.
I truly think I've gained infinitely more than I gave up, but one thing I gave up for certain is being able to go off the grid. Even when I travel to Europe I need to ensure I get a travel phone plan, check emails constantly, etc.
KidWonder101 5y ago
I've been trying to find a qualified engineering consulting group. Are you in the industry of aerospace engineering or materials science?
downvotesanimals 5y ago
No, sorry.
atticusfinch1973 5y ago
Have been self employed for most of my career and now am opening a larger gym (3500 square feet on two levels) in about two weeks. Personal trainer.
The new larger space took about 200k in capital for lease, renovations and equipment upgrades. Bank loan and I have a partner.
There’s pros and cons. Pros are I make my own hours, but at the end of the day I’m responsible for clients and satisfaction. Don’t take a lot of time off. Money is obviously way better than working for someone else.
I’d always suggest someone start off doing their own thing part time and see what level you can handle. Running a business isn’t for everyone, in fact 95% of people in my industry have no clue how to run a business at all. Or they are just lazy.
[deleted] 5y ago
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clausternn 5y ago
Fuck, really? I need to stop saying anything that might vaguely imply I have money then. I'm always telling chicks about how I love to travel, live in a condo, work in finance, that kinda thing. Not in an arrogant way, just in a matter-of-fact way. Still, probably need to change it up.
woke_wizard 5y ago
I’m graduating in may with a marketing degree and I’ve always planned on being a business owner.
Would you recommend that I work in the marketing field for a few years before I attempt to start a business? Or would it be better to start one while I work.
I did start a dropshipping business that failed because I ran out of money for marketing. I learned more doing that for a few months than I have in 4 years of business school.
[deleted] 5y ago
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dongpal 5y ago
Seems like this kind of stuff still seems to work? Do these affilitive marketing still work? Reminds me of Dan Lok who said without internet it wouldve taken him way more years to reach his wealth.
TFWnoLTR 5y ago
I had a small drywall company for a few years. It fell through because I got cheap and decided against consulting an accountant and ended up in debt to the IRS enough to have to liquidate and close.
The startup cost varies depending on your business. I went about 10k into credit card debt in a month. I had to beg suppliers to give me credit. It was stressful and occasionally humiliating, but it payed off big time when I had a few big money maker contracts come my way.
If you're going to start a business you have to be ready and willing to go all out on it. You can't have any reservations or doubts. You'll be on the verge of financial ruin for most of the first two years and even after you think its stable things will happen that make you worry and want to quit. Don't quit. You can't. The only thing keeping your business going is usually your own will to make it work.
I became more driven than I ever thought I could be. I also had a kid on the way which helped with motivation. Don't recommend that part.
Just be ready and able to work 70+ hours a week even while your ahead and you'll be fine.
superbad4life 5y ago
I am working 40-50 hours/week, but wanted to start a side business to (hopefully) set myself up for not needing that job. What would you recommend I do? And buying out my contract isn't really an option...
ProFriendZoner 5y ago
Went to vocational school, graduated.
Hung my shingle out.
Hustled for business.
Got a sweet deal on an office.
My second business but the first I do just for fun. This is the serious one and is a big shock after working the 40 hour a week paid every 2 weeks jobs. Now everything is my problem instead of someone else's.
Didn't give up anything. GAINED freedom. Make my own hours. LOVE what i'm doing.
One of my brothers usually says about things "The talkin' part's over". Meaning it's time for action. You can talk about it or do it. Do it.
DanishApollon 5y ago
What does your business consist of? (Without going in too much detail if you don’t wanna share)
- I'm a hypnotist/hypnotherapist. I help people overcome all kinds of issues, such as depression, anxiety, pains, phobias, etc.
​
How much money did it take?
- Not much, really. I took some affordable classes, and learned a TON from online resources. Google REALLY is your friend. Also, lots of colleagues who are willing to educate and share online are ALSO great friends. Be a positive person, and everyone wants to see you succeed.
​
Are you doing your business full time now?
- Yes.
​
Would you ever go back to working if your business failed or start another one?
- I am very much counting on doing this one way or another until I retired. I don't see it slowing down. Only time will tell. I would probably build another business if this one shut down.
​
How did having/starting a business change your life and the way you interact with others?
- Having the business got me freedom. Sure, I still work 5 days a week, but completely different circumstances. I basically have nice, cozy conversations with 2 or 3 people a day. They love being here. I get to work in my kitchen and have my dog with me.
​
What things did you have to change about yourself to start a business?
- Absolutely nothing. Just had to work on my skills.
​
What things did you have to give up?
- Hmmm... the commute?
​
Anything else you would like to share.
- I would like to say that this is the best thing I have ever done for me. I work for ME, I make my own money. I'm good at doing what I do. I charge premium price, but I also see that my clients are MORE than happy paying for my services. I can only recommend it.
AdenDark 5y ago
My biggest problem is figuring out the "grand idea". I try to be observant and see what people need, buy I guess that's why I wear glasses. lol
JarHeadJoseph 5y ago
You’ll never make it anywhere with a big idea. It’s 2018, everything as been made and every accessory for that thing has been made. If you do happen do have a “grand idea” and carry it out, you’ll end up getting copied by other people with 500x more money than you, making it better and advertising it better.
self-medicate 5y ago
What does your business consist of? (Without going in too much detail if you don’t wanna share) Talent Management Software
How much money did it take? Averaged about half-a-million in projected sales
Are you doing your business full time now? No, when the recession hit in 2008 our investors pulled and we had to sell
Would you ever go back to working if your business failed or start another one? I'm back to doing what I was before.
How did having/starting a business change your life and the way you interact with others? The sheer amount of knowledge I amassed from the venture is absolutely insane. I wouldn't trade the practical knowledge for anything. Going into the venture I had no business background, and now as I'm preparing for my CFA I basically know the entire curriculum because of my experience. The loss was tough financially though, still paying back the personal bank loans etc.
What things did you have to change about yourself to start a business? Originally I felt super insecure going to angel investors and networking with other CEOs who all had way more credentials than I basically had none. I had to change the "I don't belong here" mentality p quick.
What things did you have to give up? Financial independence, sanity. Its tough when people tell you "don't take it personally, its just business" but the business is tied to your livelyhood
AnAbsoluteSith 5y ago
Did you have a finance background originally? or did you decide to pursue your CFA after your business experience? Which level you're at now?
self-medicate 5y ago
Level 1 Candidate writing in December. No finance background originally. Going to law school next year so I’ll do my level 2 in June and then defer my level 3 for a while
Joeboard 5y ago
I was supposed to take over a family business. Had to get out of it though, running your own business just isnt worth it IMO unless your making millions a year.
Too much stress. Youll never have a day off, ever. Work will be the first thing on your mind in the am, last thing on your mind before you fall asleep. When you dont need the money, youll always be your busiest. When your hurting for money youll always be slow. No time for personal life, your business will take 100% of your time. You can just about forget about gaming women, youll rarely have the opportunity to venture out for pleasure.
I left the business alittle over a year ago, and am very happy I did. It feels SO GOOD to be able to punch out and leave your hectic day at work, at work.
UsernameIWontRegret 5y ago
I quit my job as a truck driver which I was doing in between my junior and senior years of college right before I started my senior year.
I could not take it anymore. The 70 hours 6 days a week for $14 an hour. I literally could not do it anymore, I quit on the spot.
Realized I hated working for other people. Of the three jobs I had I quit two of them and got fired from the other.
I didn’t know what I wanted to do, but I knew I wanted to start my own business. I had some ideas and had always been entrepreneurial my entire life, ever since middle school at least. I knew the paperwork would take a while so I just filed the paperwork while thinking of what to do.
Contrary to popular belief you don’t need to know what you’re doing to file the paperwork for a business. A business legally is a skeleton, a shell, now licensing is different.
Eventually settled on dropshipping to start. Low cost and low risk with high upside. It was the perfect tester/starter business.
Cost me less than $600 to start and less than $150 a month to maintain.
Now I’m making about $1,000 a day in revenue.
Worth it?
Fuck yes.
My goal is to snowball companies into real estate and high dividend stocks and retire by the time I’m 30.
While it’s actually more work than I’ve ever done, it’s actually enjoyable.
But here’s the thing. You must be honest with yourself. You are everything when you’re an entrepreneur. You’re the CEO, the accountant, the investor, the lawyer, the everything. It’s simultaneously thrilling and overwhelming. But it was one of the changes I look back on and can’t even remember life before I decided to do it. It was liberating, and before that moment I never knew what passion was. I always thought it was BS propaganda. Then I got it.
obbimauler 5y ago
I'm considering doing dropshipping as a hustle next year. How did you go about finding and securing wholesalers/suppliers and what kind of upkeep is required to maintain those connections?
UsernameIWontRegret 5y ago
Honestly, almost everything is automated in terms of maintenance. Most wholesale websites are super familiar with drop shippers, it’s a very common thing.
obbimauler 5y ago
Good to know, thanks. I know since you're buying wholesale you buy the item at a wholesale price. Do suppliers bill you periodically for items bought over a certain amount of time, or is the system automated so that you receive a margin post-sale?
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BittyMitty 5y ago
Dude, I just gathered some quality people.
We got a small project on the roll. And several leads.
If you need some small java project, I can do it for you.
Either way, having the right people for the job makes things easy.
[deleted] 5y ago
What all have you done for people in Java?
BittyMitty 5y ago
Backend for sites and apps.
russelln 5y ago
I too would like information like this. I feel like I have to drive to run a business but the actual logistics of setting it up seem to escape me.
[deleted] 5y ago
If you truly have the drive to run your own business, you will learn. Intense desire always finds a way to get things done.
ismybeardright 5y ago
There's only one type of person who doesnt do mistakes - a dead man :)
Still, it's better to learn from mistakes of others