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FEATURED! Agree or Disagree: Entrepreneurship is a privilege

Discussion in 'General Entrepreneur Discussion' started by MoreValue, Sep 18, 2018.

  1. Destiny Warrior
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    Destiny Warrior New Contributor

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    Simple: Start a $14 meetup group on meetup site and you can reach every community where they will promote for you free worth 10K

    It worked wonders for my book
    Upgrade 100% the Best You in 100 Days
     
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  2. Walter Hay
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    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    I appreciate your suggestion and will take action, at least in relation to the HTTPS. That unfortunately is about the limit of my technical skills, so I will have to find someone who can enlarge and maybe add a second Buy Now button for me.

    I am sure you will find my book helpful.

    Walter
     
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  3. ZF Lee
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    ZF Lee Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I'm being courted by some guy I met on a meetup.com arrangement to jump onto his real estate gig bandwagon.

    I'm wondering if I'm not the first guy he's trying to rope into. :inpain:

    I feel it boils down to management.

    If you want something nice, make sure you have enough to cover the costs and it doesn't hurt you financially, emotionally or physically. Buy what you can afford, regardless of whether you rely on a job or biz for income.

    So updating the resume ain't going to work. It just enables you to 'run away' from the issue, only to have it come back to you later.

    I generally don't feel left out when I see other folks having great cars and homes. I just worry, 'How in the f*ck do you clean the place/car?':playful:

    I might actually pay more recurring cash to an ordinary biz like a pool cleaning biz. Or even a grocer.

    I still have my iPhone 6. Still works. I refused to change to the latest iPhones because I realised I was just getting access to the same functions like the App Store and phone calls.

    I think I'll keep the phone for the next 10 years lol, not withstanding any drastic tech changes. So Apple ain't gonna get my cash in a long time. :smile2:

    In my local grocer, I actually got riled up when they sold
    • bananas that had a smell that is too strong to be real
    • cherry tomatos that were old
    • local sweet potatoes that spoiled just the next day

    I stopped buying those things.

    But they had some things that I liked:
    • Zucchinis. No complains on their freshness
    • English muffins
    • Beetroot bread
    • Chinese herb soup packet
    And much more!

    So I buy these things regularly. Needless to say, a small grocer got more of my money in the long run, even though they sell humble stuff. :)

    But on R&D, I think no matter where you look, there's always room for more improvement. A billion dollars isn't the end-it-all.

    How much human capital is enough? Enough to convince employees to join you, to fulfill the other gaps in skills? Enough to develop a competitive advantage or USP? It sounds more relevant to the service biz.
     
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  4. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Soooooo... after typing this 5 days ago I've been thinking about it all week. I brought it up with my friend who is ex special forces and he gave me some great ideas on it. Sooooo.... I may be jumping the gun a little bit, but I think this is going to happen and will probably have him as a partner. Can't think of a better way to start this company than with a vet/spec ops as a partner. This is an example of combining totally different knowledge and skills into a partnership.
     
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  5. DennisDuty
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    DennisDuty Mini Media Mogul Read Millionaire Fastlane Speedway Pass

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    On the main topic of this thread:

    OP is correct. Some people will NOT BE ABLE to start certain types of business. This is a truth. Sometimes money is a huge factor that LIMITS your ability to get started in certain spaces. A poor black kid from Compton will NOT be able to launch a innovative smartphone

    What you've missed is that for other types of business, TIME is the limiting factor. Or EXPERIENCE, or LAWS, REGULATIONS, or CUSTOMER RETENTION or EMPLOYEE RETENTION, or PATIENCE or SKILL.

    Every business has its own unique set of challenges. Your job is to identify these challenges and overcome them.

    I agree with you on the whole, but this point is a bit reductionist. You've reduced the complexity of the situation until it matched your cynicism.

    Marketing isn't about funding. It's about communicating WANT and NEED. If the customer doesn't NEED your product and you can't make them WANT it, it doesn't matter how much funding you have.

    Raise your hand if you've ever tasted Virgin Cola.

    Virgin poured millions into marketing. In 1998 Branson drove a TANK down times square and shot a coca-cola sign. It wasn't free, and only a company like Virgin could accomplish it.

    Thousands of other companies have poured countless dollars into other products. Remember the Blu-ray vs HDDVD war? Why hasn't GOOGLE PLUS taken off? Why doesn't anybody own a ZUNE?

    You can't buy popularity. Your product still has to FIT. Great marketing on a sh*t idea will net you sh*t returns.

    Instagram became popular because of the question "how did you get that photo to look so good?"

    The answer, of course, was Instagram's differentiator: "It's this app with these filters. Let me show you".

    Before the integration of the filters they had zero traction.
     
  6. ProblemOd
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    ProblemOd Silver Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    But the kid from Compton doesn't need to start an innovative smartphone and shouldn't focus on what he/she can't do, but what he/she can. There's things "kids from Compton" can do right now to move them closer to a fastlane business and listening to the OP is not one of them.
     
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  7. ChrisV
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    ChrisV Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    elaborate.....

    if you’re not here just to promote your book
     
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  8. ChrisV
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    ChrisV Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    This guy is one of the best thinkers on this forum and imo people should give attention to his posts.

    And re: instagram.. instagram is popular for the same reason makeup is.. it makes your sh*tty life look cool
     
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  9. TinyOldLady
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    TinyOldLady Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    What? Why? Where do you go biking? :eek:
     
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  10. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Up in to mountains. Lots of four legged and two legged creatures.
     
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  11. Nik@16
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    Nik@16 Contributor

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    I live in India. Green Groceries are sold at streets and these street vendors beat any shop which sells groceries. You know why ? It's because they sell cheaper and better goods. The street vendors travel miles to the street to sell food.Gas is more expensive than human energy. Nobody can beat them. 10 million familes have a grocery store. No Walmart can beat them . Entrepreneurship is about increasing productivity in society. .
     
    Last edited: Oct 2, 2018
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  12. Ninjakid
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    Ninjakid Platinum Contributor Speedway Pass

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    Most rich people were born rich.

    The ones who weren't were still privileged enough to become rich.

    Are we allowed to take credit for anything?
     
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  13. The-J
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    The-J Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    OK

    Let's say you work a job that takes up 11 hours of your day 5 days a week. Your salary is juuuuust enough to make ends meet, not much more. Maybe you're able to save $100/month after cutting out all the fat but nothing else. You can't just up and quit your job and move in with your parents because you've got a debt load from all the schoolin' that got you the meager job in the first place (and also maybe a wife and kids).

    You've got a couple choices you can make.

    You've got your weekends so you could get another job. I'm 25, and this is what a LOT of people I know do.

    You could do a side hustle. Photo booth business on the weekends, perhaps. Or copywriting gigs on Upwork. Or Craigslist arbitrage.

    You could start a project that could eventually be something big enough to quit your job.

    The last choice is really hard because for a while, it's going to pay you $0/hr for quite some time and is going to require you to sacrifice:
    • Hanging out
    • Sleep
    • Some sanity
    • Opportunities working on things that seem shinier in the moment
    Most of all, though, you don't know really if it's going to work out. You're armed only with the information you have (and can reasonably acquire through books, etc), the time you have, and the fire in your heart. Without even one of these things, you've got a 0% chance.

    The majority of the time you spend working on the business before you make a dime is in the Desert of Desertion. It feels like a waste of time. You squeeze in some work on your commute, waiting times, at 5am, or after dinner.

    And you don't know if it's going to work at all. Everything is a hassle. Learning new skills and new technologies is a hassle. Going to meetups and workshops after work is a hassle. Talking to people who are able to save way more than you because they get paid more, have less debt, and are able to make bigger investments is a hassle.

    But what keeps people who are in this position going is the knowledge that it's possible. That there IS a chance, and that there ARE ways they can push the odds in their favor. Most of all, it's the self security in knowing that they're actually going for their dreams and giving it an honest go.

    Lots can go wrong, and often it does! But what I'm trying to say is to forget about the stuff you can't control. Everything that happened in the past you can't control. The family you were born into. The school you decided to go to. The debt you decided to take out. That's out of your hands now. What is IN your hands is what's going on right the f*ck now.

    I didn't answer the topic of the question because the premise is irrelevant to any given individual circumstance.
     
  14. MoreValue
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    MoreValue Contributor

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    Anyways, if you guys are wondering what I am doing with all this advice, I decided I am going to have to choose a business that is low monetary cost, high human capital cost. In the startup phase anyways, I got all starry eyed when I got into business 3 years ago thinking I could do any type of business. But I have lost those starry eyes and realized I am going to have to accept that for my first venture, I simply can't afford to start those types of businesses without declaring bankruptcy.

    I have decided to choose Sass. Currently, learning to code because I don't have any other option. Some may call it a waste of time to learn to code. But I just can't afford one right now. Monetary costs are pretty much zero to start, meaning there is no limits to this at all. Wish me luck yall
     
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  15. ChrisR
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    ChrisR Diamond Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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  16. ChrisV
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    ChrisV Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Lol


    Sent from my iPhone using Tapatalk
     
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  17. ChrisV
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    ChrisV Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    and that one doesnt count.. this thread totally sucks... it’s a crime to not troll it
     
  18. Powshock
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    Powshock Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Hmm. A philosophical question indeed. Is it a privilege to have your health? Ask a sick person. Is it a privilege to have normal children? Ask a family with disabled children. Is it a privilege to have a hot wife? Yes (I can answer this one). Is it a privilege for you to be an entrepreneur? I hope you will be able to tell us the answer on your experience.
    "Poor person trying to start a business? Full on cut everything out of life to even have a sliver of a chance."
    This is addressed in MJ's books. You have to live too. Don't scrimp and save just to say you are an entrepreneur.
     
  19. LamboKing
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    LamboKing Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Some people may argue this is one of the worst threads, but between some of the post from @MJ DeMarco @biophase and @Fox and others, there’s so many nuggets that have helped shape my mind state. Sometimes our beliefs and biases can be the emprisonment to our dreams.
     
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  20. Busybee22
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    Busybee22 New Contributor

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    Here's the thing. Entrepreneurship IS a privilege. Some of us are so entitled into thinking that just because we can go out and start a business whenever we want, it's just whatever. That however, is NOT the case, as in some countries it is near impossible to raise one's station, with class systems or corrupt governments.
     
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  21. Busybee22
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    Busybee22 New Contributor

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    I was reading up on this the other day and found a few articles mentioning WHY some countries are better than others to start a business in. Note that all of these countries allow equal opportunity.

    1. Germany
    2. Japan
    3. United States
    4. United Kingdom
    5. Canada
    6. Sweden
    7. Netherlands
    8. Denmark
    9. Singapore
    10. Australia
    The Top 10 Countries for Entrepreneurship, According to Public Opinion
     
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  22. LuckyPup
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    LuckyPup Digital Wantrepreneur Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Damn skippy!
     
  23. LuckyPup
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    LuckyPup Digital Wantrepreneur Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Nailed it! Not sure if you're in the US, but it's tragically ironic that those who rant about privilege haven't a clue about the rights afforded us in our founding documents.
     
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  24. TreyAllDay
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    TreyAllDay Whatever it takes Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    In Canada but am a fan of US founding principles, libertarianism, and capitalism.

    Yes it is unfortunate and ironic - lots of people think they are fighting for freedom and equality by trying to change these principles and are doing the reverse.

    Sent from my SM-A520W using Tapatalk
     
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  25. TreyAllDay
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    TreyAllDay Whatever it takes Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Interesting story this week about the founder of that Fyre music festival being sentence to 6 years in prison.

    $25MILLION raised for an app/festival all squandered due to poor management. In fact one of my customers just defaulted over $1billion in loans and bonds due to poor management. That is $1billion dollars of loaned money out the window in a few years.

    Having money isnt a privelidge. We all play at different scales but the concepts are the same : make the right choices and you can achieve success.

    Sent from my SM-A520W using Tapatalk
     
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