I came here in 1999 and worked for a large chain of language schools .
That school went bankrupt about 4 years ago. My choices were to scramble for a job with everyone else or start my own business.
It is working out pretty well. I can pay my mortgage , put my kids through private school, pay into investments/funds, and take 3 days off a week.
Security brokerage, concentrating on annuity wholesale
I hated collecting a paycheck significantly under my worth. I used to be an account executive at an ad agency and one fine day I landed a $2 million dollar annual contract for three years. My commission on that particular account was to be $25k per year; thanks to a capped commission structure, I was significantly under my typical percentage to boot. I knew then I needed to position myself to make money flow through my hands with control of its course.
I also fucking hate bosses.
My current goal is to find a manager so I can be more in the background.
Long term to sell once I build an amount of equity allowing me to be a rich and uber handsome playboy for life.
I’m 26. Been in the BDSM business since age 19. Made a few millions by selling my very first company at 22. I own a couple of fitness modelling agencies and a porn/BDSM site, I model too and I’m a strength and conditioning coach.
Money is good. Never will have to worry about my old days. I can retire any time Id like to but, I just like working a lot…and make shit load of money…
[quote]krazykoukides wrote:
For those of you who have owned businesses and made a decent living from them:
Would you suggest getting an education in business management or something similar?
or would you value work experience in your business niche over a formal business education?
[/quote]
I have an MBA, which I earned before entrepreneurship, so I couldn’t compare education vs. no education but experience would be needed for sure.
I think a BS business degree at the least is useful, understanding basic financial and accounting processes and business function in general certainly doesn’t hurt, plus you have access to a large and generally successful network to tap in to for advice, support and connections.
I’m self-employed for the time being. I work as a writer, editor and (sometimes) marketing consultant.
Krazykoukides, to answer your question – it depends on the nature of the business. In my case I do creative work, and that’s not the sort of thing that MBA programs have in mind. Sure, you need some business management skills regardless, but you can pick them up easily enough through experience and self-study. I don’t think the cost/benefit would be there for someone in a field like mine or Iron Dwarf’s to pursue a formal business degree.
Would you mind sharing how you got into this field, and any advice you have on starting out.
I’m in the same position as Jake, just about to finish university and have no clear idea on what I want to do, other than the 9-5 grind does not sound appealing.
[quote]DarkNinjaa wrote:
I’m 26. Been in the BDSM business since age 19. Made a few millions by selling my very first company at 22. I own a couple of fitness modelling agencies and a porn/BDSM site, I model too and I’m a strength and conditioning coach.
Money is good. Never will have to worry about my old days. I can retire any time Id like to but, I just like working a lot…and make shit load of money…[/quote]
Hmm i don’t know if this is an elaborate story or not lol?
Just had a meeting with a possible investor in my new website, guy is connected as fuck and has the money.
He made a good point about company %.
He wants 40% for the money he’s going to front.
But he said he can really help us out, and why have a huge percentage of business thats could easily fail when you could have a little less of a company that could be huge.
[quote]Marzouk wrote:
Just had a meeting with a possible investor in my new website, guy is connected as fuck and has the money.
He made a good point about company %.
He wants 40% for the money he’s going to front.
But he said he can really help us out, and why have a huge percentage of business thats could easily fail when you could have a little less of a company that could be huge.
Any ideas?[/quote]
If this is cartel shit, remember OPEC. That is all.
[quote]Marzouk wrote:
Just had a meeting with a possible investor in my new website, guy is connected as fuck and has the money.
He made a good point about company %.
He wants 40% for the money he’s going to front.
But he said he can really help us out, and why have a huge percentage of business thats could easily fail when you could have a little less of a company that could be huge.
Any ideas?[/quote]
If this is cartel shit, remember OPEC. That is all.[/quote]
Cartel shit would have a lot more financial potential lol!
I have some solid ideas but for some reason I am afraid to take the leap. What can I do to make myself get out of my comfort zone? It pisses me off but not enough to make me go after it. I have 2 kids to worry about so that definitely is a factor. Anyone else in my position?
[quote]StevenF wrote:
I have some solid ideas but for some reason I am afraid to take the leap. What can I do to make myself get out of my comfort zone? It pisses me off but not enough to make me go after it. I have 2 kids to worry about so that definitely is a factor. Anyone else in my position? [/quote]
It’s most likely run of the mill performance anxiety and a fear of failure aggravated by external responsibilities.
Assuming you’ve done research and projected success in your ideas and are not just flying by the seat of your pants, take a note from John Wayne, “Courage is feeling the fear but saddling up anyways.”
[quote]DarkNinjaa wrote:
I’m 26. Been in the BDSM business since age 19. Made a few millions by selling my very first company at 22. I own a couple of fitness modelling agencies and a porn/BDSM site, I model too and I’m a strength and conditioning coach.
Money is good. Never will have to worry about my old days. I can retire any time Id like to but, I just like working a lot…and make shit load of money…[/quote]
Hmm i don’t know if this is an elaborate story or not lol? [/quote]