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Old 02-07-2017, 07:03 AM
 
17,441 posts, read 10,514,899 times
Reputation: 8334

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Quote:
Originally Posted by Electrician4you View Post
If you put it in perspective to someone making 30,000 a year a guy who has a few million dollars net worth is rich. To someone like Trump the guy with a few million dollars is a minimum wage worker.
Sooooooooo true.
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Old 02-07-2017, 09:30 AM
 
5,098 posts, read 2,728,861 times
Reputation: 4636
Quote:
Originally Posted by TheGoodUsernamesWereTaken View Post
importers, and interior designers make over a mil a year? lifestyle coaches? Ridiculous lol. What on earth qualifies one to be a lifestyle coach anyway?


And that 18 year old girl embodies everything I feel is wrong with this world.
Yup. It all depends on how well they know their customer base, and their ability to keep those customers. One of my college friends started a mobile car wash business in LA, and started with one old truck. He has 9 of them now and his annual revenue is over $1m a year.

Making money isn't impossible if you find a niche and work hard. The last part is where most people fail, they simply won't work hard.
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Old 02-07-2017, 12:25 PM
 
Location: Marin County, CA
681 posts, read 388,858 times
Reputation: 720
Quote:
Originally Posted by CaliRestoration View Post
Yup. It all depends on how well they know their customer base, and their ability to keep those customers. One of my college friends started a mobile car wash business in LA, and started with one old truck. He has 9 of them now and his annual revenue is over $1m a year.

Making money isn't impossible if you find a niche and work hard. The last part is where most people fail, they simply won't work hard.
I am a hard worker, it just has to make sense to me to do the work.

My biggest roadblock is finding a niche, lol.


I've been wanting to be a small business owner for years but can't decide what it is I want to do. Everything seems saturated, every "need" I discover turns out to be addressed by someone else already, and as appealing as the hospitality industry is, horror stories of dream bars and restaurants failing and never turning profit has me hesitant.
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Old 02-07-2017, 12:27 PM
 
Location: Marin County, CA
681 posts, read 388,858 times
Reputation: 720
Quote:
Originally Posted by Electrician4you View Post
If you put it in perspective to someone making 30,000 a year a guy who has a few million dollars net worth is rich. To someone like Trump the guy with a few million dollars is a minimum wage worker.
Exactly.

What a foolish thing to say, that poster. It's relative, and to a guy like me, I would absolutely consider myself, and call myself wealthy if had 2 million dollars. My net worth is negative right now, 500k would change my life forever, never mind 2 million. I'd pay off my debt, buy property, and invest in my swing trading portfolio and be set for life.
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Old 02-07-2017, 01:27 PM
 
17,441 posts, read 10,514,899 times
Reputation: 8334
Quote:
Originally Posted by TheGoodUsernamesWereTaken View Post
I am a hard worker, it just has to make sense to me to do the work.

My biggest roadblock is finding a niche, lol.


I've been wanting to be a small business owner for years but can't decide what it is I want to do. Everything seems saturated, every "need" I discover turns out to be addressed by someone else already, and as appealing as the hospitality industry is, horror stories of dream bars and restaurants failing and never turning profit has me hesitant.
The key is something no one else is doing or not doing very well. It takes imagination. I did it.

You should be able to.
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Old 02-07-2017, 09:41 PM
 
18,141 posts, read 19,894,553 times
Reputation: 26582
Quote:
Originally Posted by expatCA View Post
The key is something no one else is doing or not doing very well. It takes imagination. I did it.

You should be able to.
You can also do what everyone is doing just do it better. It's amazing what passes for "good" service today. I still have customers who call me asking to bid jobs. I tell them I don't do it anymore but I refer them to good people I trust
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Old 02-07-2017, 10:12 PM
 
Location: Marin County, CA
681 posts, read 388,858 times
Reputation: 720
Quote:
Originally Posted by expatCA View Post
The key is something no one else is doing or not doing very well. It takes imagination. I did it.

You should be able to.
Yep. you are an inspiration.


Quote:
Originally Posted by Electrician4you View Post
You can also do what everyone is doing just do it better. It's amazing what passes for "good" service today. I still have customers who call me asking to bid jobs. I tell them I don't do it anymore but I refer them to good people I trust
Very true.
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Old 02-09-2017, 07:33 PM
 
32,532 posts, read 30,550,342 times
Reputation: 32340
I have several friends who live in Newport Beach. They can afford it because they're boomers who have worked hard since they were teenagers.

A friend who lives in Newport Coast is greatest generation who worked even harder.
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