Let's face the facts here. If you were not born rich you will NEVER be rich.
Unless you are one of the lucky few who happen to be in the right place at the right time or have good intelligence genetics from your parents that help you succeed.
A majority of us are damned if we do damned if we don't end up living average shitty paycheck to paycheck lives.
Make sure you get some sleep for work tomorrow.
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>get some sleep for work tomorrow
I would, but I guess I was in the right place at the right time.
I went from homeless and bankrupt to multimillionaire in 5 years. Luck was certainly involved, as was intelligence.
but when I tell people how to do it I get written off as a liar. The biggest obstacle to most people getting wealthy is their inability to believe what kind of opportunities are out there. Your boss makes sure you never find out what he earns off of your work. So most people never come close to guessing what their time is really worth.
it is what it is. about 3% of Americans will be in the top 1% at some point in their lives. That 3% saw through the lies and bullshit. You have to if you want to be rich.
I'm desperate I'm willing to do anything at this point to stop being a wageslave please share your knowledge.
That's what schools and parents teach. But it's actually wrong. Most rich people build their empire in their lifetime. You can create your own chances. And you need to create your own chances if you want to get lucky. 95% of the people dont even try.
you will never be rich because you can never sacrifice a little, like stop eating fast food everyday, stop drinking alcohol, stop dating girls, and invest the money you save. you want it all fast but can't commit
In general my knowledge is pretty simple.
Don't sell to the public, margins are small and they sue.
Don't sell goods, margins are small and competition is huge.
You don't need a new idea, just do the same things other people are doing but spend more money on sales and advertising.
Your job doesn't need to be sexy if it makes money. You're better off selling a million dollars worth of toilet paper and tampons than making ten thousand dollars day trading.
Hire people, that's where the money is made. Grow and hire.
If you're making $12.50/hour in business services your boss is charging your time to the client at $125/hour. Yes, most of the difference goes in his pocket.
As said earlier, avoid retail and restaurants and gas stations and other low-margin crap unless you can afford to buy lots of them.
comply with the law and try to help your customers, employees and community. If you do that the business grows itself and your competitors destroy themselves.
Hmm yes, right place right time
>when I tell people how to do it I get written off as a liar
Maybe if you posted some proof, you wouldn't get shit on. Lots of people come to Veeky Forums to roleplay as Wolves of Wallstreet. We're going to assume that you're a lying faggot until you prove otherwise.
Don't like it? Tough shit. Convince us that you're legitimate. Either way, stop crying that your wonderful strategy doesn't get the recognition it deserves. It's own fucking fault, moron.
>Yahoo Answers-tier business advice
Jesus, and you wonder why no one believes you.
I'm talking irl, not here.
I don't care if you guys believe me, I'm saying people that knew me when I was living in my truck and know me now don't generally believe me when I tell them what's involved.
they smile and nod but I know they aren't going to do anything with what I tell them because our entire society is built around convincing people that they get paid a fair wage and the boss earns his money through hard work.
neither of which is strictly true.
How much do you make per hour?
How much does your boss make off your work?
this is elementary math, any manager knows it.
do you?
if so, why the fuck are you still an employee, moron?
Oh christ, its another one of those "wage cuck" spammers.
/abandon thread
No, faggot, there is nothing wrong in trading your labor for a fair wage. Fuck off.
I agree if your wage is fair.
And it probably is if you're working in a restaurant or retail store or a huge corporation with low profits compared to payroll.
But everyone else is just making someone they've never met very wealthy.
you could be that someone. It's not difficult. It just requires understanding that your wage isn't fair and then being the guy that benefits from other people's work.
I make roughly 19 an hour right now and my boss makes 0 from my work currently.
That's cool. The only way you could improve on that is to shift to a sector that pays better.
Trades right now charge $75-$125/hour where I live. Sure, there's overhead and self-employment taxes that take a chunk, but people are taking home a lot more than $19/hour.
Oh sure, let's all quit our jobs and become self-employed entrepreneurs! We can oppress and underpay our workers, and we'll be guaranteed success. Because some anonymous faggot on Veeky Forums said so!
inc.com
Ooops, 98% failure rate. Well, let's look past the odds, ok! Roll the dice! user says its the thing to do!
Seriously, there's nothing wrong with taking advantage of entrepreneurial opportunities at the right time and place, and it is indeed a path to success for some people.
But don't come to Veeky Forums and pretend that you discovered some great secret truth, and that no one believes you. No one believes you because you're full of shit, and oversell the concept.
I work an entry level Chemistry job, so it has potential to pay much better when I have more experience than fresh out of college.
>don't come to Veeky Forums and pretend that you discovered some great secret truth, and that no one believes you
Veeky Forums regularly peddles false and questionable ideas about business.
nothing I've said is new or surprising yet most people will never try it. For reasons you stated.
I've told you why most businesses fail, and I've very broadly outlined how not to fail. You're free to doubt and disbelieve all you like.
If you strike out on your own you'll probably fail several times. If you don't ever try you'll guaranteed fail every time.
It's not bad pay already. People with STEM degrees often become middle class millionaires just working as employees. But yours is a specific case where you may indeed get quite wealthy without ever owning a business or having people work for you. My advice does no good in that case, unless like many other science professionals you eventually decide to move into management or consulting/contracting.
>If you don't ever try you'll guaranteed fail every time.
False dichotomy. People who take good jobs with fair wages do not "fail every time." On the contrary, most of them improve their lives and financial health.
Stop quoting platitudes, especially when they're not applicable to the situation. It's a poor replacement for actual wisdom, which in your case, is quite evident.
>People who take good jobs with fair wages do not "fail every time."
I mean they fail at running a successful business.
being an employee isn't a failure, it's much safer than trying to start businesses. But it doesn't make most people rich.
Chemist user there might get rich as an employee, but your average employee never will.
>what I tell them
which is what?
essentially this:
with emphasis on how much they get paid vs. how much the owner takes as profit.
In my field the average pay for employees is $12/hour. The average charge for their time is $125/hour. That's all anyone should need to know about their "fair wage." For every $12 I pay someone I can pretty easily pocket $75 for myself and they'd never know unless I told them.
and if I told them most of them still wouldn't believe it. Or would try to convince themselves I must work 6 times harder than they do so I earned most of their pay.
False fucking dichotomy. People who do not shoot themselves in head are not "failing at suicide." They're just not dying.
If you're too stupid to know that risk is a HIGHLY RELEVANT factor that people need to consider when making financial decisions, then perhaps you should stop giving advice. To anyone.
>If you're too stupid to know that risk is a HIGHLY RELEVANT factor that people need to consider when making financial decisions, then perhaps you should stop giving advice. To anyone
Of course there's risk, that's my point.
play it safe and never get rich or take the risks and perhaps win big.
a person that plays it safe fails at getting rich.
see, you were so close to understanding on your own, you just need someone to hold your little hand and walk you through it.
what was this thread about now? How playing it safe almost never pays off?
>play it safe and never get rich or take the risks and perhaps win big.
pic related: your advice, in a nutshell. You can stop now.
I think it was OP that said luck was the deciding factor.
I personally think intelligence and fearlessness are more important.
People have to start by understanding that you, the voice of reason, are also the voice of failure.
I like your view of the world. The more chances you take. the more likely you'll strike it rich! Buy more lottery tickets!
owning businesses makes far more millionaires than the lottery does.
though I agree, you'll never own a business with that attitude. Your best shot at getting rich is probably the lottery.
>owning businesses makes far more millionaires than the lottery does.
Yes, but startup businesses cost a lot of money, the loss of which would cripple the average family. (But fuck risk, amirite?)
And since the entirety of your financial advice is that all you have to do to GET RICH QUICK is TRY REALLY HARD and EVENTUALLY BEAT THE STAGGERING ODDS (magic!) then why not just play the lottery?
Fuck off back to
>startup businesses cost a lot of money, the loss of which would cripple the average family. (But fuck risk, amirite?)
brick and mortar stores cost a lot to start, but you'll notice I advised specifically against those.
if your business isn't making money from day one you should probably take some classes on running businesses.
or, you know, do like you do and be someone else's employee because you lack imagination and swallow other people's bullshit whole.
>anyone who disagrees with me must be an irrational wagecuck
Thanks for making this easy. My work here is done.
thank you.
you're almost a parody of why most employees will never get rich. You're literally trained from birth to think it's impossible or just a matter of luck. Even when evidence to the contrary is right in front of you you'll deny it and get angry at the very idea that others might succeed where you fear to even try.
I read through the thread to see what's your business and you don't tell it:/
>Don't sell to the public
>Don't sell goods
>Your job doesn't need to be sexy if it makes money
>Hire people
You have a cleaning company with government contracts, don't you?
Among other things, yes. Thanks for reading.
> if you were not born rich you will never be rich
This is what normies truly believe, and because they truly believe it, they never even try. And so they stay poor.
Plenty of middle-class people grow up to be rich, OP. Even a few dirt poor people manage it.
> it is what it is
Reviewbrah?
> 96% of businesses fail within 10 years
Because almost everyone is stupid and starts a dumb business like the 724th Italian restaurant in London or the 4,042nd bar in New York. Once you filter out all of the obvious no-hopers, the odds are a lot better.
If you start a fundamentally new business that meets a genuine need, you have a much better chance of success.
>If you start a fundamentally new business that meets a genuine need, you have a much better chance of success.
Easier said than done. By definition, a "new business" is going to be unproven and will have higher startup costs than a similar but better-established business opportunity. The reason people open the 724th Italian restaurant in London or the 4,042nd bar in New York is because people in London are proven to really, really like Italian restaurants and people in New York are proven to really, really like bars.
You don't open a business in an established space because you lack creativity or new ideas. You do it because you have a proven customer base, established supply chains, known labor costs, and lower startup costs.
I know you mean well, but trying to simplify a complex topic into a pithy piece of advice is just foolish.
the biggest issue for people not succeeding/becoming rich/becoming self employeed isnt because they dont know their boss is making more off their labor than them.
The issue is 99% of people in this world never learn how to look at things from a higher level of perspective.
this applies to america mostly as its where I was raised and saw this, but I assume its a universal situation:
-you're taught through life experience that the "norm" is to go to school, finish school, and go work for someone. Some might pass highschool, others college, but ur trained from day 1 to expect to go work for someone or some company. From just being out in public seeing how things operate, to school, to your first shit job flipping burgers, to what you see and absorb from your parents/friends/family)
-once you begin this cycle, its hard to break it as life refuses to slow down. The moment you become an adult (and for many, much sooner than that) life picks up and starts going. You get trapped in the cycle of work in order to survive and the required drive to do additional work (Which is necessary) can be hard to build inside yourself.
the secret, is to understand that if you want more, if you WANT to be successful/rich/"the boss"/whatever, you have to build it. Others have said in this thread people dont realize their boss is making much more for your time than you are. That's not necessarily true, MANY realize this. The issue is they dont know -how- to make the transition from an employee to a boss. They cannot just quit their job and suddenly open up and run their own show.
For many, it requires a level of dedication like anything else in life. You have to be willing to work torwards your goal and accept that failures will be had, progress will be slow, and you will essentially be "working for free" until you start to get the hang of things in whatever it is you're doing, and only then will your personal empire take root and begin to grow itself into something amazing.
I grew up with a friend and we both always wanted to "make it" in the end. but there is a key difference bewteen us:
He has no clue how he wants to become rich. He has always said he has no idea how hes going to do it - but he "knows" hes going to do it.
I have taken up various "hobbies" over the years that generate income - each one technically really a job/business but I would treat it as a hobby, having fun with it and learning more than expecting to make a full paycheck. He would tell me im wasting my time. while I would do this, he would go drinking every day. Don't get me wrong, I partied with him many times, but one of the various things i did was X (where X= random monetarily growing "hobby", such as online marketing, affiliate sales, web design, ebaying, etc)
He decided he wants to get into the stock market. He bought into tim sykes bullshit and has spent hundreds on the various products. hes made 2-3 trades and is currently in the red by around 300 dollars. But if you ask him about it hes -fucking stoked- because his last trade earned him +100, he instantly forgets about the cost of all these "trainings" and shit, and his bad trades, but he -knows- this is how hes going to get rich.
I turned some of these "hobbies" into full fledged incomes as side jobs that I would continue doing and playing with while working my "real" job/career. I've been doing this for about 10 years in total. I invited him to join me many times, he declines because he sees it as "working for free" because he has to start from nothing and build up to see results.
I quit my "real job" 5 years ago and have been self employed as an online marketer ever since. He still works in a warehouse for 10 an hour.
I'm not rich, and am far from the end goal, but theres a distinct difference - one person is taking realistic action and putting in the required effort, another is dreaming big and wanting a free ride to the top.
the point im trying to make is this - most people will never see success because they want it handed to them. they dont understand or accept that if you're not born into wealth or get really lucky at some point in life, you have to -create- your own path. This takes time and dedication, but the fruits of your labor are magnificent when you get there.
They refuse because they are not willing to earn it.
I have literally offered to hold my buddies hand through everything so he can grasp it and get to my level quickly so we can be 50/50 partners. Tell him exactly what to do, where to look, how to do each step, and build up his own empire exactly like I did my own. No profits earned would come to me, hed keep everything he generates as he grows, and once hes up to my level we could start working together and splitting workloads and profits in a joint venture... but he wont do it because he refuses to work for "free".
> A new business will have higher startup costs than a similar but better-established business opportunity
Completely wrong. There are plenty of opportunities to do fundamentally new things in software; the startup costs are close to nothing. Starting a quality restaurant in an expensive city like London or New York costs far more - and those ventures essentially never make money.
> You don't open a business in an established space because you lack creativity or new ideas.
Yes, that's exactly why people do it. Most people do not even *try* to come up with new ideas.
They just copy other people and end up competing like crazy with all of these other people with no ideas who just wanted to be 'entrepreneurs' and all decided to open no-hope businesses like restaurants, and because nobody has new ideas, they're all undifferentiated and essentially interchangeable, nobody develops pricing power, nobody develops market share, and nobody makes money.
>similar but better-established business opportunity
>similar
>similar
>similar
>similar
Reading comprehension for the win, sparky. Restaurants and software development: not similar.
I assumed that by 'similar' you meant 'similar to existing opportunities', not 'similar' to a fundamentally new business.
If a business is really fundamentally new, there are no 'similar' opportunities. Fundamentally new businesses are necessarily unique.
>Fundamentally new businesses are necessarily unique.
No, not really. But keep on thinking that. It'll keep your startup costs high, and ensure that stay in the 96% of failed startups. Meanwhile, your smarter competitors are looking for the similarities that will lower their barriers to entry.
Not that it matters anyway. Veeky Forums is filled with keyboard entrepreneurs who don't actually have a business let alone two nickels to rub together. You guys read motivational posters to each other and pretend that your having high-level finance discussions. It's just sad.
lol
Ayy, not who you replied to but I was going to guess some sort of service contracts with the government. Also fuck the guy that's whining about how it's all impossible and everyone should just give up, defeatists are fucking annoying.
How much do you make? Did you start the business(es) right after high school/college or did you work for someone else for a while?