Have you just been given $100k then? Or is this entirely theoretical?
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One share in Berkshire Hathaway. ( about $100K when I did a quick check). Warren Buffet knows his stuff. I personally would also look at writing call options on $100000 worth of shares. Its pretty safe, and gives good income monthly.
Also Currency trading is great if you want to lose lots of money really quickly.
Also Currency trading is great if you want to lose lots of money really quickly.
Last edited by Burwhale (2009-10-08 05:14:05)
I'd buy shares in my current workplace if I could. Failing that, I'd invest in this local company. Failing that, I'd put it into a house - prices are starting to rise, and we don't have a capital gains tax.
College education + own small business
Jesus no. Back when I was doing "business studies" in high school, we learnt that something like 80% of new small businesses go under within 5 years. I'm sure that number is greater in today's economic climate. That's quite an easy way to lose 100k, and probably more given most small businesses operate as a sole trader.. thus the owners have unlimited liability.rdx-fx wrote:
own small business
I'd buy 100 whores at a grand each or 1000 at a hundred each
but you get what you pay for
but you get what you pay for
That's not so bad.mcminty wrote:
Jesus no. Back when I was doing "business studies" in high school, we learnt that something like 80% of new small businesses go under within 5 years. I'm sure that number is greater in today's economic climate. That's quite an easy way to lose 100k, and probably more given most small businesses operate as a sole trader.. thus the owners have unlimited liability.rdx-fx wrote:
own small business
Out of five people, you just have to be smarter and harder working than the other four.
It's not easy, the pay sucks for the first many years, and the hours can be brutal.
(ever put in a 36 hour work day before? come in at 6am and work straight through until 6pm the next day?)
Here's 10 small business tips off the top of my head
1) Identify a real need in your community - Not something you wish or think might work.
2) Stick to solid business fundamentals (pay bills on time, don't expand too fast, don't take customers for granted, always be professional, etc).
Fundamentals generally work - taking risks contrary to fundamentals generally fails.
3) Start a business that will work in that location, not just the one that you want to run
Coffee shop next to Starbucks is going to be rough going - but being the only gas station within 300 miles, along a stretch of interstate highway, will probably pay well.
4) Being a small business owner is longer hours, more work, and less pay for the first few years - many give up because of this difficulty. It's just more work than they're willing to put in.
5) Every dollar you spend on your business, you have to earn. It's easy to spend a pile of the bank's money on equipment, furniture, decor, and such. Real easy to spend more money than you can make back.
6) Know. Your. Business. Backwards, forwards, and sideways. Know your subject matter, know your customer's needs, know how to improvise when everything goes to hell. You're the boss - there isn't anyone higher up the chain you can call for help. You're it.
This is also a good reason to work for someone else for 10 or 20 years before going off on your own.
7) Be fair. Charge a fair price. Don't gouge your easy customers, and don't be a pushover to your aggressive customers.
8) There is no easy path spelled out for you. Yes, you have to think of everything.
9) Plan ahead. Save some of the money from the good years, because there will be bad years.
10) Be lucky. Good planning, hard work, and intelligence can overcome plenty of adversity. Sometimes, though, the shit just gets too deep.
Opening up a small buisness is very, very tough. If you do it right and well it will pay off greatly in the long run. There is this guy who came from my country and opened up one of the only 2-3 Yemeni restaurants in New York City. For the first 5 years buisness was very slow and the hours were a bitch. It's been 15 years since he first opened and now he makes 100k a week and around 15k is profits. All he does is managerial work and collect weekly(which only require him to be there 2-3 days).
Instead of starting a business off from scratch, you may want to buy an existing business or a franchise. Always lease instead of buy your property too.
Starting a business from scratch is very risky.
You can also be a venture capitalist and invest in other peoples' businesses.
Starting a business from scratch is very risky.
You can also be a venture capitalist and invest in other peoples' businesses.
Only reason why it is risky is because a portion of the population are not smart enough/capable of working hard enough to make their buisness work.
Last edited by 12/f/taiwan (2009-10-09 22:08:28)
HI GUYS I SAY SOMETHING CHINESE BECAUSE I THINK I'M AN ECONOMIC SUPER GIANT WANG FUCKER WHO KNOWS THE WORLD.
Zimbabwean dollars btw.
Zimbabwean dollars btw.
Pretty much what my dad did. Started around 7 years ago and now his satellite installation business is expanding to China and Japan I'm just like holy fuck.rdx-fx wrote:
That's not so bad.mcminty wrote:
Jesus no. Back when I was doing "business studies" in high school, we learnt that something like 80% of new small businesses go under within 5 years. I'm sure that number is greater in today's economic climate. That's quite an easy way to lose 100k, and probably more given most small businesses operate as a sole trader.. thus the owners have unlimited liability.rdx-fx wrote:
own small business
Out of five people, you just have to be smarter and harder working than the other four.
It's not easy, the pay sucks for the first many years, and the hours can be brutal.
(ever put in a 36 hour work day before? come in at 6am and work straight through until 6pm the next day?)
Here's 10 small business tips off the top of my head
1) Identify a real need in your community - Not something you wish or think might work.
2) Stick to solid business fundamentals (pay bills on time, don't expand too fast, don't take customers for granted, always be professional, etc).
Fundamentals generally work - taking risks contrary to fundamentals generally fails.
3) Start a business that will work in that location, not just the one that you want to run
Coffee shop next to Starbucks is going to be rough going - but being the only gas station within 300 miles, along a stretch of interstate highway, will probably pay well.
4) Being a small business owner is longer hours, more work, and less pay for the first few years - many give up because of this difficulty. It's just more work than they're willing to put in.
5) Every dollar you spend on your business, you have to earn. It's easy to spend a pile of the bank's money on equipment, furniture, decor, and such. Real easy to spend more money than you can make back.
6) Know. Your. Business. Backwards, forwards, and sideways. Know your subject matter, know your customer's needs, know how to improvise when everything goes to hell. You're the boss - there isn't anyone higher up the chain you can call for help. You're it.
This is also a good reason to work for someone else for 10 or 20 years before going off on your own.
7) Be fair. Charge a fair price. Don't gouge your easy customers, and don't be a pushover to your aggressive customers.
8) There is no easy path spelled out for you. Yes, you have to think of everything.
9) Plan ahead. Save some of the money from the good years, because there will be bad years.
10) Be lucky. Good planning, hard work, and intelligence can overcome plenty of adversity. Sometimes, though, the shit just gets too deep.
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