Exhibit A:
********
Exhibit B:
Follow-up comment:
PEERless, I called you out on this for the same reason I called you out on the "I'm going to make $100M" comment.
Specifically:
Your comments do not provide specifics, or indicate that you have actually spent time on due diligence. Or they sound like that of a classic "E"* or "S"*.
In his post, Randallg99 mentions, first off, that he investigated this as a business idea (a "B"* perspective)
Meaning, he did considerable due diligence, as is evidenced by his bullet point summary.
Then, he shares some direct experience from one of the boards he sits on (an "I"* perspective). He brings up a study that points to transportation being a primary concern for seniors, and that addressing this area might be lucrative.
Do you see the difference in your comments, and his?
*********
I realize that it may seem like I'm picking on you.
That is really not the case here.
It's just that, when you give your 2¢, you're not really telling us what type of life experience or due diligence you've done to justify your comments.
So the casual reader is left thinking you don't really have that much experience, and therefore, are justing making "off the cuff" comments.
MJ called these kinds of people "No Net Worth Know-It Alls" (NNWKIAs).
**************
Back to the cocktail party analogy I used with you in an earlier thread:
Let's say I'm at a cocktail party, and I meet someone. We're chatting about elder care, and they mention that they're looking into how to provide service to this sector, and how best to structure their service.
Looking at it from a business-building perspective (something that can be automated and scaled), I'm likely to make comments in that direction. And I'm also likely to recommend the internet as a vehicle, and suggest that the person build the company so it can either go public or be sold down the line.
And I'm also going to say that I don't have any direct experience running an elder care facility, or working with this part of the industry. Nor have I ever taken a company public. Nor am I any kind of net guru.
But I have developed businesses for the past three decades, and my orientation/bias is towards building Businesses that can be sold to Investors(to put it succinctly, I look at ideas from a B and I perspective).
I'll also point out that I happen to know a couple of very successful people who have developed website referral businesses, connecting B to B or C to B. And that some of their efforts generated hundreds of thousands of dollars in revenue, and (eventually) gave them a tidy sum when they sold the business.
****
Now, at this point, another person at the cocktail party who has been listening in, offers their opinion:
"I think being a retailer of a service is a bad business model. If you don't provide the service directly, what keeps your customers from cutting you out?.
This also seems to be a high-cost start up idea! That's OK, I suppose. Anything's possible. I don't work in the industry, but I know that collecting revenues from insurance is a LONG process -- sometimes only for a FRACTION of the bill!"
******
And that is all that they say.
Let's say you are the person developing the idea, or someone just listening in.
Which person's comments have more credibility to you? Who are you more likely to trust, or want to discuss things with further?
*********
I realize that you've said, in other threads, that you do significant due diligence on these things before you make comments. And that you choose not to share this with us for your own reasons.
That is certainly your choice.
Please also consider that, if you do offer business or investment advice based on your experience as a S* or an E*, you are likely to get called out on these forums, as S and E points of view are not scalable, or of interest to investors. They are worthwhile points of view, and can certainly generate capital.
But they are NOT fastlane.
For instance, as an Employee of a hotel that grosses less than $5M a year, you may not like Travelocity. Your hotel, since it's a boutique, is probably not the model that Travelocity caters to (they get most of their billions from chain hotels).
Saying Travelocity is a bad model does not acknowledge the fact that they have been making in excess of $1B a year for more than a decade. This is significant.
Or let's say you were a Self-employed insurance agent or an E complaining about how being in insurance is a waste of time, and hard to get collect.
Tell that to Warren Buffet, whose insurance companies generate hundreds of millions in revenues for him each year.
To recap:
On the fastlane, we look at things from a Business or Investment perspective.
How to make things hands-off, and scalable.
I wish I did a better job of communicating this to you. I fear that I'm sounding too condescending, or critical. I am truly sorry if my words are coming out this way. It is not my intent.
I'm just trying to point out that when you offer up comments without explaining your B and I experience, that they are likely to be given short shrift on these forums.
I'm hoping this makes sense. And that you will reconsider and share your actual experiences with us in future posts.
Respectfully,
-Russ H.
*E, S, B, I = S= Self-employed, E= Employee, B = Business owner, I = Investor
Randallg99 said:I looked into this type of business a year ago and decided against it. Here's my 2 cents:
-you get to save a lot of money using 1099 contracted workers/nurses but the same money saving factor on personnel creates more headaches.... there is no loyalty to your company
-biz that can be operated out of home
-lot's of competition (because it's rather easy to start and fund)
-cash flow is entirely dependent on insurance and/or medicare subsidies... and they pay on their schedule, not yours.
-very rarely you get a private paying customer
A study was performed by interns to help one of the charitable boards I sit on rewhich helps seniors and what was found to be #1 concern for seniors was their lack of transportation... many of them have had licenses taken away and their self-dependence becomes nonexistent... some kind of biz providing transportation of elderly is probably lucrative
********
Exhibit B:
PEERless said:New, you seem to keep choosing these high-cost startup ideas! That's OK. Anything's possible. I don't work in the industry, but I know that collecting revenues from insurance is a LONG process -- sometimes only for a FRACTION of the bill!
Follow-up comment:
PEERless said:(How come when I point this out, I get berated for not knowing the industry?)
PEERless, I called you out on this for the same reason I called you out on the "I'm going to make $100M" comment.
Specifically:
Your comments do not provide specifics, or indicate that you have actually spent time on due diligence. Or they sound like that of a classic "E"* or "S"*.
In his post, Randallg99 mentions, first off, that he investigated this as a business idea (a "B"* perspective)
Meaning, he did considerable due diligence, as is evidenced by his bullet point summary.
Then, he shares some direct experience from one of the boards he sits on (an "I"* perspective). He brings up a study that points to transportation being a primary concern for seniors, and that addressing this area might be lucrative.
Do you see the difference in your comments, and his?
*********
I realize that it may seem like I'm picking on you.
That is really not the case here.
It's just that, when you give your 2¢, you're not really telling us what type of life experience or due diligence you've done to justify your comments.
So the casual reader is left thinking you don't really have that much experience, and therefore, are justing making "off the cuff" comments.
MJ called these kinds of people "No Net Worth Know-It Alls" (NNWKIAs).
**************
Back to the cocktail party analogy I used with you in an earlier thread:
Let's say I'm at a cocktail party, and I meet someone. We're chatting about elder care, and they mention that they're looking into how to provide service to this sector, and how best to structure their service.
Looking at it from a business-building perspective (something that can be automated and scaled), I'm likely to make comments in that direction. And I'm also likely to recommend the internet as a vehicle, and suggest that the person build the company so it can either go public or be sold down the line.
And I'm also going to say that I don't have any direct experience running an elder care facility, or working with this part of the industry. Nor have I ever taken a company public. Nor am I any kind of net guru.
But I have developed businesses for the past three decades, and my orientation/bias is towards building Businesses that can be sold to Investors(to put it succinctly, I look at ideas from a B and I perspective).
I'll also point out that I happen to know a couple of very successful people who have developed website referral businesses, connecting B to B or C to B. And that some of their efforts generated hundreds of thousands of dollars in revenue, and (eventually) gave them a tidy sum when they sold the business.
****
Now, at this point, another person at the cocktail party who has been listening in, offers their opinion:
"I think being a retailer of a service is a bad business model. If you don't provide the service directly, what keeps your customers from cutting you out?.
This also seems to be a high-cost start up idea! That's OK, I suppose. Anything's possible. I don't work in the industry, but I know that collecting revenues from insurance is a LONG process -- sometimes only for a FRACTION of the bill!"
******
And that is all that they say.
Let's say you are the person developing the idea, or someone just listening in.
Which person's comments have more credibility to you? Who are you more likely to trust, or want to discuss things with further?
*********
I realize that you've said, in other threads, that you do significant due diligence on these things before you make comments. And that you choose not to share this with us for your own reasons.
That is certainly your choice.
Please also consider that, if you do offer business or investment advice based on your experience as a S* or an E*, you are likely to get called out on these forums, as S and E points of view are not scalable, or of interest to investors. They are worthwhile points of view, and can certainly generate capital.
But they are NOT fastlane.
For instance, as an Employee of a hotel that grosses less than $5M a year, you may not like Travelocity. Your hotel, since it's a boutique, is probably not the model that Travelocity caters to (they get most of their billions from chain hotels).
Saying Travelocity is a bad model does not acknowledge the fact that they have been making in excess of $1B a year for more than a decade. This is significant.
Or let's say you were a Self-employed insurance agent or an E complaining about how being in insurance is a waste of time, and hard to get collect.
Tell that to Warren Buffet, whose insurance companies generate hundreds of millions in revenues for him each year.
To recap:
On the fastlane, we look at things from a Business or Investment perspective.
How to make things hands-off, and scalable.
I wish I did a better job of communicating this to you. I fear that I'm sounding too condescending, or critical. I am truly sorry if my words are coming out this way. It is not my intent.
I'm just trying to point out that when you offer up comments without explaining your B and I experience, that they are likely to be given short shrift on these forums.
I'm hoping this makes sense. And that you will reconsider and share your actual experiences with us in future posts.
Respectfully,
-Russ H.
*E, S, B, I = S= Self-employed, E= Employee, B = Business owner, I = Investor