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INTRO Still not an entrepreneur

Sevan

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Sep 11, 2018
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Hi everyone,

I finished the book of MJ last year and was really fascinated from his clear words and analysis about the blue prints of people who "want" to become financial independent, incl. myself. Working, saving money and hoping that one day the money is enough to retire. BUT I started soon after reading the book with my new job in a well known consulting company. However, I'm not a consultant by heart, I hate all this BS options and strategies we deliver.

Here my background in the short. Immigrated to Germany with my Mom and sister when I was 6. Went to school, university and finished even my PhD. Always wanted to become an entrepreneur, but always stocked in Idea Land.

Now I want to think big (I always did and was misunderstood), start small and then become bigger. Happy to be here and share my ideas and progress with you.

Cheers, Sevan
 

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MJ DeMarco

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Welcome to the forum, seems to be an influx of German people here lately, interesting!
 

bilkar1985

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Hallo Sevan! Herzlich willkommen aus Griechenland! Welcome to MFLF forum! I hope that you will find what you seek as quick and with the minimum fatigue! Cheers!


Sent from my iPhone using Tapatalk
 
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Sevan

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Hi MJ and jiasos Bilkar,

Thank for your forum MJ. I'm wondering about the "German influx". Do you guys think that there is less entrepreneurial competition, due the fact that most Germans want to become lawyers, teachers and doctors? And is there more potential for business ideas?

Moreover, I'm thinking about becoming an entrepreneur for years and just check my excel sheet where I collect my ideas, almost 100 ideas. But never started an idea. And therefore, here a declaration that I will finish collecting ideas until the end of the week and start next week discussing with you my top 5 ideas.

Sevan
 

The Abundant Man

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Hi MJ and jiasos Bilkar,

Thank for your forum MJ. I'm wondering about the "German influx". Do you guys think that there is less entrepreneurial competition, due the fact that most Germans want to become lawyers, teachers and doctors? And is there more potential for business ideas?

Moreover, I'm thinking about becoming an entrepreneur for years and just check my excel sheet where I collect my ideas, almost 100 ideas. But never started an idea. And therefore, here a declaration that I will finish collecting ideas until the end of the week and start next week discussing with you my top 5 ideas.

Sevan
I remember when I was a kid, my dad would ask me "What are you going to do this week?" Then I'd tell him, "I got this. I got that..." He'd look straight into my soul with a serious tone in his voice and tell me, "Well, young man, I expect all that to be done." About a week later, he'd ask "Did you do everything that you said you were going to do this week?" I would stare blankly at him for a couple mintues. Then I'd feel guilt and shame and tell him,"No" Afterwards, he'd punish me for it.
 

Danny Sullivan

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Hello and welcome to the forum Sevan!

Do you guys think that there is less entrepreneurial competition, [...] And is there more potential for business ideas?
That's tough to answer.
First thing is, not everyone is in the producer mind and sees the usual 9-5 as "just the way it is".
Second there's regulations. Jeez, if we love one thing more than anything it's regulations. You want to do this? Oh... better meet these 3 regulations and fill in this 17 application papers, it will just take 9-18 months and then you can start flying like a new born bird.
Beyond all this regulation shenanigans (which itself might keep people from even trying to open up business) germany is not really supportive for business founders, keeping things floating in midair much longer than needed, which might end up in opportunities gone by. But once you succeed a 50% profit margin business might become a 20-25% profit business because of taxes.

But that's just my impression so far and might not be the complete truth of it.
 
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Sevan

New Contributor
Read Millionaire Fastlane
Sep 11, 2018
10
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19
I remember when I was a kid, my dad would ask me "What are you going to do this week?" Then I'd tell him, "I got this. I got that..." He'd look straight into my soul with a serious tone in his voice and tell me, "Well, young man, I expect all that to be done." About a week later, he'd ask "Did you do everything that you said you were going to do this week?" I would stare blankly at him for a couple mintues. Then I'd feel guilt and shame and tell him,"No" Afterwards, he'd punish me for it.
Thanks for your input "The Abundant Man". Yes, I could feel shamed and guilty or see the process as learning. Shame and guilt don't built businesses, but learning in the process does.
But I love when people underestimate me.
 
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Sevan

New Contributor
Read Millionaire Fastlane
Sep 11, 2018
10
15
19
Hello and welcome to the forum Sevan!



That's tough to answer.
First thing is, not everyone is in the producer mind and sees the usual 9-5 as "just the way it is".
Second there's regulations. Jeez, if we love one thing more than anything it's regulations. You want to do this? Oh... better meet these 3 regulations and fill in this 17 application papers, it will just take 9-18 months and then you can start flying like a new born bird.
Beyond all this regulation shenanigans (which itself might keep people from even trying to open up business) germany is not really supportive for business founders, keeping things floating in midair much longer than needed, which might end up in opportunities gone by. But once you succeed a 50% profit margin business might become a 20-25% profit business because of taxes.

But that's just my impression so far and might not be the complete truth of it.
Hi Danny Sullivan,

Thank you and great to be here. Well, taxation is a though one in Germany and given. The federal government loves to take away our hard owned money. But there are ways to avoid taxation and yes it's legal. I'm not an expert on that topic, but companies have more chances to avoid taxes than private people.

The second one on regulation sounds actually like a business opportunity. German is a difficult language, but regulation German is not understandable. And here an application tool might help entrepreneurs. Love that idea actually. Fill in your data and we handle the application service for you.
 

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