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  1. Rabby

    Can I start a generic/umbrella LLC if I don’t know exactly what I want to focus on?

    You can. You'll get credit card offers for the business too, most likely.
  2. Rabby

    Can I start a generic/umbrella LLC if I don’t know exactly what I want to focus on?

    You can literally register a business and do nothing. People do it all the time accidentally, so why not? In most US states, the business description of every registered business is something like "any and all legal business." The government can't tell you what to do with your business, other...
  3. Rabby

    Hello from Thailand

    INTRO 
    Sawat dee krab :) Welcome to the forum!
  4. Rabby

    Buying a...MVP? Not really an idea, not a business. Need help w/ valuation.

    IDEA 
    I like @Kid 's idea of finding customers before licensing it, if you can do that. I would say it's fair to negotiate the upfront cost if you're trying to conserve capital. Even though it's not a huge amount, it does represent a risk. Maybe finance it by increasing royalty to 10% until your...
  5. Rabby

    TAMPA BAY, FL Fastlane Meetup

    MEETUPS 
    I'll meet up with you @Johnny boy
  6. Rabby

    TAMPA BAY, FL Fastlane Meetup

    MEETUPS 
    All the dates are fine with me.
  7. Rabby

    Are some of you an entrepreneur in the IT area?

    Services (that are already in demand) and reselling are both generally faster compared to developing a product. The concept is that you don't have to develop a whole product before selling something. You just have to be capable of rendering the services (and selling), or getting an agreement...
  8. Rabby

    How to verify american business?

    Also, you joined in 2012 and just now posted? Good heavens, make a progress thread ;)
  9. Rabby

    How to verify american business?

    Another tool would be the Department of State/Division of Corporations for the state the business is registered in. In the US, businesses are registered by state and county. The state will have a database where you can (usually) search by business name, owner/officer name, etc. For example, in...
  10. Rabby

    In the rat race with an escape plan

    INTRO 
    Welcome! Keep up the good work. I'll just point out... real estate is also good. Personally I use business, but I don't see RE as worse at all. I think the main thing, whatever your wealth vehicle is, is to be diligent about it. If you choose real estate, you have to become an expert in the...
  11. Rabby

    Books that will give you a Paradigm Shift! (You'll never be the same again)

    HOT! 
    The Road to Serfdom by Friedrich Hayek. The scales will fall from your eyes. Basic Economics by Thomas Sowell. You'll understand value and money and the decisions related to them much better after reading this. Weapons of Mass Instruction by John Taylor Gatto. It's Ok to cry yourself to sleep...
  12. Rabby

    Audience Dilemma

    I would try to get the teachers and parents interested in helping the kids through your services. Especially the parents, since they're the ones who will likely be paying you. For them, you probably don't need the technical content as much. What you need is a convincing pitch that makes them...
  13. Rabby

    Scaling business

    Does the $1,000 represent setup costs, or something else. That can matter for various reasons. Like, if you pay $1,000 up front for setup and finance it to the customer over 2-3 years at $750 / year, that could be pretty good. You're essentially converting the $1,000 into a paper asset with a...
  14. Rabby

    Scaling business

    Even if it only made money on years 1 and 2, and dropped to zero year 3, it's still a good deal.
  15. Rabby

    Scaling business

    If $750 profit is a sure thing, it's a decent fantastic deal. You can arbitrage the debt and the business can pay for itself, so why not? But if you're fooling yourself about the initial investment carrying through for 2 or more years, you're just wrapping yourself up with debt. I'm going to...
  16. Rabby

    Failure in Business: A Thought Experiment

    MINDSET FAILURE 
    What always amuses me about these statistics is that they are cited backward. 20% of businesses with employees (meaning they are tracked by the Bureau of Labor Statistics) 'fail' in the first year. 80% survive. By the 5th year, only 50% remain. However, BOLS only tracks survival, not failure...
  17. Rabby

    2020 Fastlane Summit at Talking Stick Resort... Event Info

    MEETUPS 
    Let's see your execution thread ;) What can you do now that puts you one step, one skill, one daily routine closer to your goals?
  18. Rabby

    What book are you reading? Right now. Post up!

    NOTABLE! HOT! BOOKS CHAT 
    Knowledge and Decisions by Thomas Sowell. It once again reminds me why Sowell is one of my saints.
  19. Rabby

    Cold Calling - Am I doing this wrong?

    HOT! MARKETING 
    1) Calling referral sources is the right thing to do, if they actually send business. If you're going to spend time selling, sell to someone who can send you multiple clients over time. You'll also have an easier time of it... calling an IT service guy gives him a way to help his clients. He's...
  20. Rabby

    How I made 6 figures at age 20

    EXECUTION 
    Aww, I love Raspberry Pi! You're taking it and making something people want with it. That's so great!

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