Kak
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This message is in response to a private message from @inputchip but it will likely be valuable in the open... It is short and sweet.
Let me start with what I do... I own 4 individual businesses in 3 very different industries, at least one of each B2C, B2B and B2G. I own a few cash-flowing assets and I am a semi-active investor that appreciates the control of managing my own money. Entrepreneur above all else. I have a lifestyle that doesn't strangle my finances or time. I own my life. I have my own worries and concerns, but it is never if the bills will be paid.
This conversation started with a question about my change of heart. I was once someone who thought Amazon was a great way to make ends meet for new entrepreneurs. I never considered it the one and only ticket, but it was hard not to recommend with most of us making a few grand in profit month one. Today is a different story with almost bubble like saturation. Extremely competitive brands racing to the bottom, cutting each other's throats and running up paid advertising to over 100% of ACOS to "prime the pump". It’s a dirty whore's market. Not to say there isn't still money to be made, but it isn't my kind of business any more.
So... With that said... If I started all over again with absolutely nothing.... I would think unbelievably bigger. Who the hell says you have to go in it alone with your first 2 or 3 grand to grow some consumer brand? Who says you have to bootstrap and hustle flipping bullshit and finding arbitrage strategies? Who says you have to be a onepreneur shop owner? You don't.
What you do have to be able do is competently explain your value to investors. Make them fight for you. If I were to start again I wouldn't touch a business without at least $500k in resources. Over and over again we see the biggest and most hyped over businesses were the ones that went after a lot of investor money in the beginning. (and 500 grand is far from a big investment)
Just think... No more budget websites. No more learning to code. No more giving stock away to resources. No more doing your own photography. No more trying to figure out the F*cking tax code once a year. You won't be fighting tooth and nail for the small stuff. Large investments are out there, available and ready for the taking. It is an investor’s job to give money to solid entrepreneurs. Businesses with huge resources make huge money faster.
So if I were to start today... I would think bigger. I would come up with a damn good plan. I would use that plan to raise a ton of money. I would use that money to buy every damn resource I always wished I could afford. I would take a stranglehold of the bottom line and make my investors as well as myself rich.
It’s not one size fits all, it’s not the only way, it’s just how I would do it.
Ask me anything...
Let me start with what I do... I own 4 individual businesses in 3 very different industries, at least one of each B2C, B2B and B2G. I own a few cash-flowing assets and I am a semi-active investor that appreciates the control of managing my own money. Entrepreneur above all else. I have a lifestyle that doesn't strangle my finances or time. I own my life. I have my own worries and concerns, but it is never if the bills will be paid.
This conversation started with a question about my change of heart. I was once someone who thought Amazon was a great way to make ends meet for new entrepreneurs. I never considered it the one and only ticket, but it was hard not to recommend with most of us making a few grand in profit month one. Today is a different story with almost bubble like saturation. Extremely competitive brands racing to the bottom, cutting each other's throats and running up paid advertising to over 100% of ACOS to "prime the pump". It’s a dirty whore's market. Not to say there isn't still money to be made, but it isn't my kind of business any more.
So... With that said... If I started all over again with absolutely nothing.... I would think unbelievably bigger. Who the hell says you have to go in it alone with your first 2 or 3 grand to grow some consumer brand? Who says you have to bootstrap and hustle flipping bullshit and finding arbitrage strategies? Who says you have to be a onepreneur shop owner? You don't.
What you do have to be able do is competently explain your value to investors. Make them fight for you. If I were to start again I wouldn't touch a business without at least $500k in resources. Over and over again we see the biggest and most hyped over businesses were the ones that went after a lot of investor money in the beginning. (and 500 grand is far from a big investment)
Just think... No more budget websites. No more learning to code. No more giving stock away to resources. No more doing your own photography. No more trying to figure out the F*cking tax code once a year. You won't be fighting tooth and nail for the small stuff. Large investments are out there, available and ready for the taking. It is an investor’s job to give money to solid entrepreneurs. Businesses with huge resources make huge money faster.
So if I were to start today... I would think bigger. I would come up with a damn good plan. I would use that plan to raise a ton of money. I would use that money to buy every damn resource I always wished I could afford. I would take a stranglehold of the bottom line and make my investors as well as myself rich.
It’s not one size fits all, it’s not the only way, it’s just how I would do it.
Ask me anything...
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