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GOLD! Think big and then think bigger than that.

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MoreValue

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This sounds like excuses to a problem or business that doesn’t exist.

Either way it is nonsense for two other reasons. Control and Ownership are independent of each other. Zuckerberg only owns 21-22% of FB but he is still very much in control.

Secondly, would you rather have 100% of a $1,000,000 company or 20% of a $20,000,000 or $100,000,000 company?
I was just sitting in my car today and thinking back to this post. Control and Ownership are directly tied together. Not independent. The reason Zuckerburg has control is because is the largest stake holder (ownership) in Facebook. But since his ownership is 21-22%, he is highly obligated to all other shareholders. This relationship is clear when you see it from the 51%-49% split.

I work for a early stage VC company here in Germany and we usually receive financial forecasts which have founder's salary included. However those salaries are of course low at first (1.5 - 3k €/month). We had one case where someone wanted to match their current salary as a freelance consultant in order to work on the project full-time, which came out to be almost 100k/year, which we found was way to high for a brand new startup. So salary can matter, but if you err on the lower side than I don't think it would be a problem most of the time. Just my 2 cents. Your mileage may vary.
Thanks for perspective, it is helpful.
 

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MTEE1985

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I was just sitting in my car today and thinking back to this post. Control and Ownership are directly tied together. Not independent. The reason Zuckerburg has control is because is the largest stake holder (ownership) in Facebook. But since his ownership is 21-22%, he is highly obligated to all other shareholders. This relationship is clear when you see it from the 51%-49% split.
Being the majority shareholder is a far cry from holding the majority of the shares. His 21% ownership means the other 79% could vote against him. He is in control because of his stake in Class B shares which give him a voting majority. Not an ownership majority.

This article may help explain it. The point being, if you are seeking funding, many of the VCs are looking to make money, not control your company. You can structure the shares how you want to retain control regardless of how much equity you may give up.

 

AppMan

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https://www.texascentral.com/about/

This got me going today (my poor wife ;)) I think it’s interesting.

The facts are...
-The project will cost upwards of $15 billion.
-It is a private Texas based company and it has never built a high speed railroad before.
-They have the finances to complete the project.
-The project is underway and 100 percent approved on the regulatory side of things.
-There is zero chance that any of these guys put up the 15 billion.

So how are they involved in such a large scale entrepreneurship endeavor?

Like I’ve said before, they became the expert. They traveled around the world and talked with the entities that build, run and maintain high speed rails. They learned everything there was to know about them and brought it to Texas where they had an answer to every question an investor might of had. They raised enough money to finance a 15 billion dollar railroad. They are building a wild dream basically from a level competence and the leadership to surround themselves with the right people.

Are you on the millionaire fastlane? Or are you, as @GPM put so eloquently, on “The thousandaire fastlane! Make as much as a corporate job with 5x the stress and 100% of the risk!”

This should be a HUGE lesson in thinking big. These guys did and they put their pants on one leg at a time just like you. No one is born an expert at anything. Start thinking BIG!
I think simplifying this like this make more damage than benefit to mentality of people. I am sure this company either build good experience and reputation over the time also they might built some relationships to be able to get that contract. It does have the experience to match what is there but sure they should have a lot of experience in the related fields to be able to complete this project.
You are showing it as it was just someone gone around the world learned then come back put their bid and Bingo.
 
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Kak

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I think simplifying this like this make more damage than benefit to mentality of people. I am sure this company either build good experience and reputation over the time also they might built some relationships to be able to get that contract. It does have the experience to match what is there but sure they should have a lot of experience in the related fields to be able to complete this project.
You are showing it as it was just someone gone around the world learned then come back put their bid and Bingo.
Why should we care what you “think?” Your assumption that any of this could do more “damage than benefit” is based on what exactly?

I said they became the expert. They literally did make those connections you are talking about and built legitimately valuable experience. They built what they needed from nothing. That is fact.

This entire thread is literally devoted to competency and becoming the actual person best suited to a project. Maybe you should read a bit more before you jump to conclusions and start slinging random accusations.

Speaking of competency, literacy is a foundation.
 
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guy93777

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This entire thread is literally devoted to competency and becoming the actual person best suited to a project.
competency is managing people's perception of you as well. a lot of gurus are just guys with great perception management skills. i won't tell the names. what are politicians anyway ?
you vote for a guy because you think he is the solution for the country. this is just a perception, not a fact until proven with results.
then the guy says " good bye " 4 years latter and everybody forgets about the promises he made . this is cleverness at work. this is perception management at work
same thing with dating, buying. whatever.
 
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Kak

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I am buying a BUNCH of real estate in 2020 and upping my investment/money system game.

I don't think the stock market is going to be meteoric forever... I figure now is a good time to hop off fat and happy.

I was thinking 10 single family homes either rehabbed and flipped or rented and kept for long term by the end of 2020. Big, I guess, for starting from nothing.

So... I need to think even bigger than that... What to do?

I know... A hedge fund!

So, a LOT of people in my life have come to me for investment advice over the years. These are generally folks with a pretty high net worth, but not a great broad spectrum finance mind. They'll ask for stock tips, personal finance questions, etc, and I have no issues sharing my what and why. Point is, I have built trust from people around me through competence.

Real estate is another animal. If I can prove I understand and can make money relatively consistently, it is something they generally won't even try to do themselves. I will have no shortage of OPM to deploy as it is just more diversification for them. I'll make it a full fund and also do the stock picking side of things too.

For YEARS I have been building a track record of doing well in the markets. For years I have been willing to help countless people make financial decisions. For YEARS I have had a real estate mentor training me... It is time to build. Plus, I want big multi-family holdings and this is how I want to get them.

Step One- Prove competency. Make some money and let people know what I am up to. If I can pull down an extra 350k-500k in 2020 just in RE... That would pretty much get their attention.

Step Two- Scale my own money making. Get them excited and wanting a peice of the action.

Step Three- Organize the fund and find some bigger deals that make simillar sense for outside money and make the offers.

Step Four- Make good returns for clients and surround myself with more competence.

Step Five- Put way more money under management.

I plan to become the expert. I plan to be competent, proficient and do this correctly.

This is one of those things that has been years in the making. I'm excited to share the process of starting a hedge fund... In the spirit of thinking bigger... I will do it in this thread... But it will be methodical and take a LOT of work.

The richest people in the world don't just sell products or services... They sell financial opportunity to others as well. The difference is almost exponential vs linear.

Looks like I have to get my series 65. LOL.
 
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holmzee

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I am buying a BUNCH of real estate in 2020 and upping my investment/money system game.

I don't think the stock market is going to be meteoric forever... I figure now is a good time to hop off fat and happy.

I was thinking 10 single family homes either rehabbed and flipped or rented and kept for long term by the end of 2020. Big, I guess, for starting from nothing.

So... I need to think even bigger than that... What to do?

I know... A hedge fund!

So, a LOT of people in my life have come to me for investment advice over the years. These are generally folks with a pretty high net worth, but not a great broad spectrum finance mind. They'll ask for stock tips, personal finance questions, etc, and I have no issues sharing my what and why. Point is, I have built trust from people around me through competence.

Real estate is another animal. If I can prove I understand and can make money relatively consistently, it is something they generally won't even try to do themselves. I will have no shortage of OPM to deploy as it is just more diversification for them. I'll make it a full fund and also do the stock picking side of things too.

For YEARS I have been building a track record of doing well in the markets. For years I have been willing to help countless people make financial decisions. For YEARS I have had a real estate mentor training me... It is time to build. Plus, I want big multi-family holdings and this is how I want to get them.

Step One- Prove competency. Make some money and let people know what I am up to. If I can pull down an extra 350k-500k in 2020 just in RE... That would pretty much get their attention.

Step Two- Scale my own money making. Get them excited and wanting a peice of the action.

Step Three- Organize the fund and find some bigger deals that make simillar sense for outside money and make the offers.

Step Four- Make good returns for clients and surround myself with more competence.

Step Five- Put way more money under management.

I plan to become the expert. I plan to be competent, proficient and do this correctly.

This is one of those things that has been years in the making. I'm excited to share the process of starting a hedge fund... In the spirit of thinking bigger... I will do it in this thread... But it will be methodical and take a LOT of work.

The richest people in the world don't just sell products or services... They sell financial opportunity to others as well. The difference is almost exponential vs linear.

Looks like I have to get my series 65. LOL.
Interesting. Will the fund be direct investments in real estate or REITs and other traditional stock investments as well?
 

tmb22

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Definitely watching this one
 
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Jeff Noel

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Kak

Kak

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How / where did you find your real estate mentor?
He is a friend. Like a LOT of things in entrepreneurship, finding a mentor is the kind of thing that an entrepreneur needs to just figure out. There isn't a step by step method for finding mentors that actually want to dump time into you. I have three mentors/friends I know I can call at the drop of a hat on almost any issue. I never looked for any of them, they just happened.

Also, I read a quote once that a mentor is someone that sees more in you than you see in yourself. That is a responsibility to take seriously. Be worthy of their time.

As much as a lot of people love to tout the "5 steps to doing X" entrepreneurship doesn't work that way. Everyone has a different circumstance. The deal looks different for everyone. The wisdom is to be able to navigate that using the knowledge that you already know of the world. To not let things stop you.

If I didn't have a real estate mentor, I would probably dive deeper into books on the matter. I would take what I learned in the books and apply it to proficiency and add in a little of my competitive advantage seeking seasoning.

There is always a way. Leadership is being willing to find it.
 

ZF Lee

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I am buying a BUNCH of real estate in 2020 and upping my investment/money system game.

I don't think the stock market is going to be meteoric forever... I figure now is a good time to hop off fat and happy.

I was thinking 10 single family homes either rehabbed and flipped or rented and kept for long term by the end of 2020. Big, I guess, for starting from nothing.

So... I need to think even bigger than that... What to do?

I know... A hedge fund!

So, a LOT of people in my life have come to me for investment advice over the years. These are generally folks with a pretty high net worth, but not a great broad spectrum finance mind. They'll ask for stock tips, personal finance questions, etc, and I have no issues sharing my what and why. Point is, I have built trust from people around me through competence.

Real estate is another animal. If I can prove I understand and can make money relatively consistently, it is something they generally won't even try to do themselves. I will have no shortage of OPM to deploy as it is just more diversification for them. I'll make it a full fund and also do the stock picking side of things too.

For YEARS I have been building a track record of doing well in the markets. For years I have been willing to help countless people make financial decisions. For YEARS I have had a real estate mentor training me... It is time to build. Plus, I want big multi-family holdings and this is how I want to get them.

Step One- Prove competency. Make some money and let people know what I am up to. If I can pull down an extra 350k-500k in 2020 just in RE... That would pretty much get their attention.

Step Two- Scale my own money making. Get them excited and wanting a peice of the action.

Step Three- Organize the fund and find some bigger deals that make simillar sense for outside money and make the offers.

Step Four- Make good returns for clients and surround myself with more competence.

Step Five- Put way more money under management.

I plan to become the expert. I plan to be competent, proficient and do this correctly.

This is one of those things that has been years in the making. I'm excited to share the process of starting a hedge fund... In the spirit of thinking bigger... I will do it in this thread... But it will be methodical and take a LOT of work.

The richest people in the world don't just sell products or services... They sell financial opportunity to others as well. The difference is almost exponential vs linear.

Looks like I have to get my series 65. LOL.
I had a feeling you had some kind of idea on the finance world, when you talked about stock portfolios in another thread lol!

Do consider doing a newsletter, and move up to a paid model, once you get more access to early investment openings.

Would encourage signing up to Agora's newsletters, and their affiliates, to get an idea of how they do stuff.

Even their free newsletters have good content...some of the few I actually read end-to-end.

One of them, George Gilder, promotes and discusses lots on 'time prices' and tech and chips...he also mentions lots of meetings all over the globe, in China and Israel, so he is able to speak from the POV of the other side of the table, even in the face of the trade war.
 

ChrisV

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He is a friend. Like a LOT of things in entrepreneurship, finding a mentor is the kind of thing that an entrepreneur needs to just figure out. There isn't a step by step method for finding mentors that actually want to dump time into you. I have three mentors/friends I know I can call at the drop of a hat on almost any issue. I never looked for any of them, they just happened.

Also, I read a quote once that a mentor is someone that sees more in you than you see in yourself. That is a responsibility to take seriously. Be worthy of their time.
Bingo.. it's just about Networking. Make friends, rub shoulders and be outcome independent. Don't walk around like "i gotta find some mentors" it will just happen naturally as a result of making friends. That being said.. almost all of the wealthy people I know sa that having a mentor was instrumental in their success building.
 

MTF

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I was listening to Tim Ferriss' interview with Gary Keller and this part resonated with me and made me think of this thread (the best part highlighted):

Gary Keller: Warren Buffett said it really well when he said that the habits of our life are like chains that are too loose to be noticed until they’re too tight to break. When you think about our life being built upon habits, you realize that most people accrue habits instead of form good ones. So when you think big and you aim high and you start running towards that, you have to develop big habits, scalable habits, in order to implement that plan. So if you didn’t say think big and aim high, what would you say? Think small? Would you think low? Would you say think average? Well, if you didn’t say think big, what are the other choices? Most people, by default, because they don’t think big, they don’t aim high, they end up developing very average or below average habits. They underdevelop, right?

Your thinking leads to action. Action over time becomes a habit. So if I’m thinking small, then I’m forming small habits. Here’s the problem, like Warren Buffett said. Now I’m a person of small habits, and all of a sudden I look up, and I go, “Wow, I really do want more out of out of my life.” Then you have to go break these habits. That’s really hard to do, whether they’re eating habits or exercising habits, or you name, work habits or relationship habits. It doesn’t really matter. At the end of the day, if you have a choice, think big. If you have a choice, aim high, and then ask yourself, “What do I need to do to do that, and what are the habits, or what’s the one habit I need to develop such that by doing it, everything else is easy or unnecessary,” and go get that habit. But if you don’t think big, what’s your choice? Right?

Tim Ferriss: Yeah.

Gary Keller: Yeah. I mean, it’s kind of like the joke I tell to the kids. I say, “So think of it this way. So you fall in love with someone and you want to ask them to marry you, and you go, ‘Will you marry me? I’ve dreamed of our life together, and it’s going to be average. We’re going to live an average life and live in an average home, drive an average car, eat average food, take average vacations, read average books, go to average movies. We’ll have average friends. We’ll have average parties. If we have kids, we’ll have average kids, and we’ll teach them the virtues of being average. Let’s get married. It’s going to be awesome.'” Nobody does that, do they? Not purposely.

Tim Ferriss: Not purposely.

Gary Keller: But what you and I both know is that if you don’t choose your life, if you don’t choose the direction of your life, you’ll go in any direction. You’ll end up in places that you didn’t want to be at because you didn’t choose where you wanted to be. So think big, aim high. I’d put that on the billboard.
 
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Kak

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I was listening to Tim Ferriss' interview with Gary Keller and this part resonated with me and made me think of this thread (the best part highlighted):
Timely for me!

Thank you for sharing this. We are all here for some form of bigger.

Gary Keller has another good quote I like:
"Small plans yield small results. Big plans, at worst beat small plans."

What does it cost to plan bigger? Nothing. To carry it out? A bit more sacrifice? A bit more hustle? Perhaps, but every entrepreneurial journey is difficult.
 

amp0193

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@MTF

The best, most heart-pumping, compliments I get from my wife are:

"I'm so glad you're self-employed now because.... [x thing of the day that is awesome about our life that wouldn't have happened if I had a job]"

We've had some ups and downs, but ultimately have done some cool stuff and took some cool vacations that no one is supposed to get to do once they have kids.

F*ck average.

Design your life with intent.

Dream it. Do it.
 

Stargazer

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Thanks @Kak for a great thread. Interesting read.

Something I just remembered.

A couple of weeks ago I was watching a programme about the Space IL thing (Israeli private project to land a small craft on the moon. Only US, China, India, Russia, Japan have landed anything. ie Nations investing $billions.

Collaborators came from all over the world to work on the project that after millions of miles traveled - it went the long way, got within 500 feet and then the rocket had a malfunction. (I think a UK company in Leicester made that bit :blush: )

Why the programme reminded me of this @Kak thread here was how it started.

A young Israeli guy was watching the Space X prize being announced in the US by NASA and simply wrote one line on his Facebook page.

Who wants to go to the moon?

He received replies from Universities around the world and Investors almost immediately. No one mentioned salaries or job roles etc etc.

They bought into a dream.

Big dreams attract big talent.

That is why these fantastical projects get off the ground.

The challenge.

Dan
 

TylerH1994

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@Kak , here’s a doozy I’ve been rattling off in my head:


I deal with this daily. I always see these articles, yet no official “announcement” per se of an official solution. Whats the hold up? I want to build one, but I don’t see the “limitations” that are causing these issues.

I have no experience in the arena, except that I live with the issue everyday. But this hits your point on not being the expert in the arena.

Hey, maybe I can do some digging and find a way to build one, and join Kill Bigger :)
 
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21elnegocio

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Love the post @Kak sorry I missed you at the summit. This is something we are pursuing as well, bigger projects like these, I want to focus on needs from now, not interested in pennies any longer since I have built out a few business that pay my bills.
 
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Strategery

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I was talking with a local business owner today, a guy I sort of consider to be a mentor, and I told him about the footwear brand I'm working on. He liked the idea, and said to holler at him if and when I need investor money (I definitely will need money).

I'd like to do more work on my own before accepting/seeking that money. Is there any rule of thumb that tells you, "ok, I'm sure of what I'm doing and I'll take that money now."?

Would it be wise to seek crowdfunding money first to validate the idea more, or just go for it?

Sorry if this is the wrong place to ask this, it seemed appropriate.
 

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poseidn

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@Kak, when did you start your first venture that was successful? I'm 21 and went into b2b sales to learn sales for when i eventually start something myself.

Earning decent cash, learning sales in and out but I'm curious as to when i should make the jump to starting my own thing? I'm going to go "big" and start something well capitalized.

Do you think its best to wait a few years in sales? Save some money up, move into a shitty place and go all in or what?
 

sparechange

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We all start off equally, my belief system is that anyone can do it, sure maybe some people have certain advantages but the majority of self made people started with not much.
 

Devampre

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Do you think it's wise to get started in say a large multimillion/billion dollar deal when you don't really bring all that much to the table (no personal capital, not a 20+ year expert, etc), but can assemble a team of experts and raise capital from banks, governments, etc?

Many would argue, well what the f*ck makes you so special being part of that deal? But, if you are taking initiative, not asking the experts for their money and sharing equity fairly I feel that in itself has a lot of value.

Am I right with this kind of thinking?
 

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