Lost my job, now what?

[chrisbiz4444]

I just lost my job. I was working at an auto dealership as a manager. However I was let go due to limited funds and high overhead. The question is now what. I really do not want to go work for someone else for little money again. I do not have any special skills like coding or copy ect. What should I do now? I was in the process of getting my RE license but start-up can be fairly expensive with no promise of return. Plus I will not be getting a commission for awhile as closings typically take some time. Advice would be awesome. I am in a tight spot. But I guess pressure makes diamonds right.

 

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[theag]

Get a new one if you don't have income from your own business. If you already have business income, grow it. Its that simple.

What did you expect to hear from us?

 

[chrisbiz4444]

Low cost self employment ideas.

 

[chrisbiz4444]

I found a nice site with many start-up ideas at a low cost. Great info for anyone making the transition out of a job...

http://www.slideshare.net/MyJobsIt/100-home-business-ideas-all-low-business-ideas

 

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[AllenCrawley]

Low cost self employment ideas.

Lots of threads on here with "low cost self employment ideas".

I've posted in quite a few of them sharing what's worked for me in the past.

 

[chrisbiz4444]

I will be sure to check it out. Thank you.

 

[MisterBHZ]

Look at being fired as a blessing from the wealth gods. Now you've got the time to go full time with starting a business.

You said you were a manager at a car dealership. Maybe you could get back in with your own this time. They obviously weren't doing something right if they didn't have enough $$$ to keep you on board. You could do it better and run them out of business.

Just an idea.

Lots of businesses can be started & built with a few dollars. I did it. Time to put your thinking cap on.

 

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[chrisbiz4444]

Thank you for the optimistic outlook buddy! And the thinking cap is on tight now lol. Its going to be a long sleepless night of absorbing info tonight lol!

 

[johnp]

Can't you just start selling cars on your own? Use the skills that you have.

My uncle owns a pretty big car lot. And guess what...he started with one car. One car became two..Two cars became three...people started telling him to stop. He didn't. 3 cars became 4..now he owns a high end used car lot..he owns multi-million dollar homes and he is into RE as well.

He did this in a time when sites like CraigsList didn't exist. That seems like a pretty good option for you.

 

[tafy]

Buy and sell cars sounds like a good way to make some money if you know how to buy right. Ask garages if you can buy their trade ins as garages usually sell them on for cheap instead of selling them on their premises. Im sure you know more ways to buy cars as you used to be in the trade. Stay positive!

 

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[vtlambo]

Not to be a pessimist but I would sell the 7 series in your pic (if you do own it and if you are in a tight spot for $).

 

[AllenCrawley]

https://www.thefastlaneforum.com/co...otstrapping-thread-how-to-create-money.34360/

https://www.thefastlaneforum.com/community/threads/how-i-turned-20-into-8-500-in-2-months.45289/

https://www.thefastlaneforum.com/community/threads/job-loss-ideas.43153/#post-241502

https://www.thefastlaneforum.com/co...-2k-dollars-in-a-month-with-craigslist.49605/

 

[chrisbiz4444]

Can't you just start selling cars on your own? Use the skills that you have.

My uncle owns a pretty big car lot. And guess what...he started with one car. One car became two..Two cars became three...people started telling him to stop. He didn't. 3 cars became 4..now he owns a high end used car lot..he owns multi-million dollar homes and he is into RE as well.

He did this in a time when sites like CraigsList didn't exist. That seems like a pretty good option for you.

Great post, many guys in the business have started like this. I started 'flipping' cars right out of high school. The money is good. However my state has been really cracking down on guys without dealer licenses, and because reg fees are now being determined by book value on most cars its hard. It can cost a thousand to register some cars taking the profit margin right out. They also have put a limit on how many cars you can reg per year. There are many grey areas and people do float titles. But its not very legal lol!

 

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[Windsurfer]

You know this gives me an idea. I have a lot of rental tenants who are always asking if they can do some work for pay. I can just put this information in a little report, give it to them and let them figure out if they have the drive to go make it happen. If they don't, well the rent is still due on the first of the month - good luck.

 

[GravyBoat]

Sell shit on CL. I make more by doing this than I currently do working my day job.

 

[Lagron]

You lost a job? Have no other income.... people forget, after they lose a job that they have another 1...

Your next one is... TO GET A NEW JOB!.... Work at it 8 hours straight, 5 days a week, you'll be employed in no time...yes it sounds stupid, but its the truth.

Send resumes, make calls, get a job!...

You need income to survive, and as such, you have bills and with this in mind, get a job, so you can survive meagerly so you can get your business off the ground.

This is the end of my post, but your start of a new journey.

 

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[harerace]

Well first, let me congratulate you on being free. I see others are just sooo rude. hahaha . I'm pretty sure you will figure it out. Its crazy that people get jobs because of security and then one day BAM! It happened to me at chase. Last day I ever worked a job.

 

[Z5 FILMS]

Spill the beans on what goes on at a dealership, how to get the best deal and how to tell if you're being ripped off, etc. I'd pay money to know the facts.

 

[mayana]

Your next one is... TO GET A NEW JOB!.... Work at it 8 hours straight, 5 days a week, you'll be employed in no time...yes it sounds stupid, but its the truth.

Only do this if you absolutely have to. Finding a job, especially a really good one, takes a lot of time. Depending on the level, it could take 6 months or more. All of this time and energy could be spent focusing on a sound low-cost business idea.

If you don't have a lot of expenses (i.e. family, spouse, or you live at home or whatever), why not take advantage of all of your new-found free time to make some bucks on your own? Read up on those threads and see what you can do to avoid staying out of the rat race.

That said, there's no shame in taking a job if you need it. Find one quickly, and refocus your energies.

 

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[pande]

Congrats on losing the job. Thats step #1. If you have a family to support do whatever it takes to put the food on the table even if it means getting another job. Step #2 would be to lower your personal expenses. Car payment, mortgage, eating out, etc. Look at how you can trim your current expenses. Step #3, think of a startup and execute!

 

[timmy]

"Just do it" ............Let me explain.... Think real hard for 5 minutes only, and come up with a real tangable business idea in a sector that you are familiar with. Provide a product or service in an open , honest and transparent manner. ( think based on the thickness of your wallet at this time) This plan alone has generated food and shelter for you in the short term.

...Next...."Just master it"..........Let me explain.........Go and perfect this business model to a scalable point that will attract more satisfied end users in an open honest and transparent manner. If your business model does not allow this stay at it till you generate enough income to get out of it for your next scalable venture.This alone will provide all the other requirements including an investment portfolio strategy as explained in MJ 's book........

...I do hope this helps a little and wish you success. Remember poverty means different things to different people.

 

[smartman]

what state are you located in? I am in PA and would love to find someone to partner with where I fronted the money for flipping used cars while they used their knowledge to search out deals and knew what to look for. You have a great skill already that positions you to make a lot of money in that you have extensive auto sales experience.

 

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[Bigguns50]

@chrisbiz4444 Quoting @AllenCrawley because this is mad good info !

https://www.thefastlaneforum.com/com...otstrapping-thread-how-to-create-money.34360/
https://www.thefastlaneforum.com/community/threads/how-i-turned-20-into-8-500-in-2-months.45289/
https://www.thefastlaneforum.com/community/threads/job-loss-ideas.43153/#post-241502
https://www.thefastlaneforum.com/com...-2k-dollars-in-a-month-with-craigslist.49605/