The Other Side of Age Discrimination

[NJBest]

Originally Posted by Spokanejobseeker

I do know what I'm talking about as far as running a business. I am part-owner of a golf course. The only reason I am able to have a share in a golf course is because I have a family member who married a wealthy woman who used part of her trust to purchase the majority of the golf course. I put what little savings I had left plus a small loan I managed to secure from the SBA under the Patriot Express program to secure my share. I also do the majority of leg work in operation of the course as well.

You have to have money to make money. You can make trinkets all you want out of your home but most backyard entrepreneurs never leave the backyard. If someone is struggling to feed their family and put a roof over their head, telling them to gamble and put their rent money into a business that month is almost equivalent to taking their cow and selling them some magic beans.

The Boomers are the very people who should be in a position to start a business since they have been working for 40 years and should have plenty of savings to invest into working capital. Unfortunately, that's not happening since the majority of them have pissed every nickel they ever earned away, and are now struggling to pay off the $300,000 dollar loan they have from refinancing their $200,000 home.

You're wrong. Just because you used capital to get into business, doesn't mean that it is needed. I started with negative networth 10 years ago, and now have a software consulting business, staffing company, and 2 daycare centers (franchises).

[EastSideWunda]

Originally Posted by Spokanejobseeker

I do know what I'm talking about as far as running a business. I am part-owner of a golf course. The only reason I am able to have a share in a golf course is because I have a family member who married a wealthy woman who used part of her trust to purchase the majority of the golf course. I put what little savings I had left plus a small loan I managed to secure from the SBA under the Patriot Express program to secure my share. I also do the majority of leg work in operation of the course as well.

You have to have money to make money. You can make trinkets all you want out of your home but most backyard entrepreneurs never leave the backyard. If someone is struggling to feed their family and put a roof over their head, telling them to gamble and put their rent money into a business that month is almost equivalent to taking their cow and selling them some magic beans.

The Boomers are the very people who should be in a position to start a business since they have been working for 40 years and should have plenty of savings to invest into working capital. Unfortunately, that's not happening since the majority of them have pissed every nickel they ever earned away, and are now struggling to pay off the $300,000 dollar loan they have from refinancing their $200,000 home.

As far as how much capital you need to start a business. It depends on what you are doing (going into) and what resources are needed. A golf course might need a few thousand or thousands(I think I'm waaaay off) but a guy selling t-shirts part-time or full-time may only need a couple dollars or hundred dollars to get everything he needs depending on what he needs to do.

It mostly depends on the situation when you start out then the money can be used to re-invest into the business to make it grow and just like you said "it takes money to make money."