Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 01-29-2008, 07:58 AM   #21
Thinks s/he gets paid by the post
saluki9's Avatar
 
Join Date: Feb 2005
Posts: 2,032
Quote:
Originally Posted by brewer12345 View Post
Or work for a hedge fund asset manager...

Whoever dreamed up "1 and 20" was a greedy SOB brilliant person.
He was ok, but he didn't have the balls vision of the guy who started 2 and 20
__________________

__________________
saluki9 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-29-2008, 10:12 PM   #22
Thinks s/he gets paid by the post
BunsGettingFirm's Avatar
 
Join Date: Jan 2004
Posts: 1,502
I think you also have to look at the article's data set. He included all the mom-and-pop shops that got funded with $25k. By including all the almost-perfect-competition businesses, he's assured that his data set will include businesses that make no economic profit even if they were properly run.

I think the author's unsaid argument is that a corporate career is comparatively worry free, and he may be right. I almost never worried if my paycheck would bounce, but I did constantly worry if my lips were sufficiently puckered behind the, well, right behinds, and I certainly had to worry about getting labeled as a drunk because I had an O'Doul's at lunch. The corporate worries are usually about some trivial, irrelevant bullsh*t. It's because the real fight out in the marketplace is so far removed from the typical corporate drone's life, so you gotta fight about something else to get ahead.
__________________

__________________
BunsGettingFirm is offline   Reply With Quote
Old 01-30-2008, 10:18 PM   #23
Recycles dryer sheets
 
Join Date: Jan 2006
Posts: 103
Quote:
Originally Posted by twaddle View Post
If you want to be rich, try to get hired as the CEO (or just about any high-level exec) of a public company. Beats the hell out of starting your own company.
Well, I wouldn't mind that, but I don't see that many listings for "CEO" on Monster.com.
__________________
segfault is offline   Reply With Quote
Old 01-31-2008, 10:45 AM   #24
Recycles dryer sheets
 
Join Date: Jun 2007
Posts: 316
Starting a biz is tough, and the odds are against you, but I would never tell someone to not try it.

A more risk averse alternate plan is to find an existing biz that has a proven successful track record, staff, customers, supplier and customer accounts, a decent lease, and a motivated owner (health, age). Then buy it.

Once you've done this, try to use the existing owner for a while and run with the status quo. Watch carefully for areas that you can improve on the way things are done and tweak the operations slowly over time so as not to upset things.

This is a far quicker and more sure way to success both monetarily and for your lifestyle.
__________________
Grizz is offline   Reply With Quote
Old 02-08-2008, 12:11 PM   #25
Thinks s/he gets paid by the post
Milton's Avatar
 
Join Date: Apr 2007
Posts: 2,077
Quote:
Originally Posted by segfault View Post
Well, I wouldn't mind that, but I don't see that many listings for "CEO" on Monster.com.
All you have to do is read two or three of D. A. Benton's books (e.g. How to Think Like a CEO: The 22 Vital Traits You Need to Be the Top Person, or Executive Charisma: Six Steps to Mastering the Art of Leadership), and you will be just as qualified as many actual CEOs.
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
Milton is offline   Reply With Quote
Old 02-08-2008, 12:38 PM   #26
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Quote:
Originally Posted by Milton View Post
All you have to do is read two or three of D. A. Benton's books (e.g. How to Think Like a CEO: The 22 Vital Traits You Need to Be the Top Person, or Executive Charisma: Six Steps to Mastering the Art of Leadership), and you will be just as qualified as many actual CEOs.
Perhaps more qualified.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 02-08-2008, 02:17 PM   #27
Thinks s/he gets paid by the post
Milton's Avatar
 
Join Date: Apr 2007
Posts: 2,077
Quote:
Originally Posted by Grizz View Post
A more risk averse alternate plan is to find an existing biz that has a proven successful track record, staff, customers, supplier and customer accounts, a decent lease, and a motivated owner (health, age). Then buy it. Once you've done this, try to use the existing owner for a while and run with the status quo. Watch carefully for areas that you can improve on the way things are done and tweak the operations slowly over time so as not to upset things.
Right out of Warren Buffett's playbook.
__________________

__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
Milton is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Forbes-"The Rich and The Unfaithful" haha Life after FIRE 33 10-23-2007 01:20 PM
Great article "Ten Reasons You Aren't Rich" Surfdaddy FIRE and Money 5 03-24-2007 01:19 AM
How'd you spoil yourself when you feeling "rich"? Enuff2Eat FIRE and Money 67 09-25-2006 10:34 AM
Another "How to retire happy" article REWahoo Life after FIRE 13 06-19-2006 09:22 AM
"Getting Rich: The Poor Man's Guide" frayne Young Dreamers 8 05-23-2006 02:08 PM

 

 
All times are GMT -6. The time now is 07:52 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.