If you’re new here, welcome to the right side of the web. Allow me to share a brief story.
4-5 years ago, I had a conversation with an old friend; let’s call him Joe. We spoke in earnest about starting businesses as part of the long term plan. 9-5s for 40+ years wasn’t an option.
Today? Joe is still at his job and hasn’t pulled the trigger on a biz (I hope he does). I still have one too, but I’ve also invested nights/weekends into a SaaS for nearly 4 years. Not at escape velocity yet, but getting closer day by day.
Moral of the story - start now. Don’t wait for inspiration. Don’t talk yourself into thinking that it’s too hard, that you don’t have time, or any other excuse that comes to mind. Just start.
Twenty years ago I inherited my friend’s role at a tech product company. My friend ingeniously built up a strategic alliance dept that got partners and suppliers to give MDF which was essentially pure profit. Thus long as I kept the MDF coming in, I was a net profit center for the company. So I used my vast spare time to start a PR consultancy. Posted some free ads on Craigslist. Bought books to learn PR. Got one client who cut me a $10,000 check. Today with YouTube and all the tools available, there’s no reason someone cannot become an expert consultant in any field. Problem with consulting is scale. As BTB puts it, it’s trading hours for money. Granted you are earning more but it’s still capped. But now you have a lot more money to funnel into testing Ecom ideas. It’s basically free rolling.
Be me. W2. High performer. Create a new profit center at small company. It grows to top rev source for company. Don’t take BTB advice on not leaving profit center. Get talked into training role. Biz downturn happens. Training/my job is cut. Had to feel the pain to now start up wifi biz.
I'm presently a master's student in one of the best technical institutes in my country (somewhere in South Asia). Heading into the semiconductor industry. I figured being a wagie isn't something I want.
I just paid up for premium, I hope this all works out.
I know you always say quit your W2 when your online earnings are 2* W2, but is there also a total net worth number (in crypto), where you would suggest quitting your W2 without having an online income yet (and maybe only do some online consulting)? Some people may have focussed on building up their crypto portfolios over the past years, without yet having an online business. Following all the macro and crypto developments and allocating accordingly takes time, too. Thanks!
If you don’t like your job and your pay is very small compared to your net worth (let’s say less than 5%), then it’s time to quit. Is it this what you were asking?
Yes, thanks, am also thinking something around 2.5% - 3.5 % (annual net income vs total crypto assets), given the volatility of crypto. Could of course be higher, if you had any significant other assets. And will probably also depend on market cycle.
If you’re new here, welcome to the right side of the web. Allow me to share a brief story.
4-5 years ago, I had a conversation with an old friend; let’s call him Joe. We spoke in earnest about starting businesses as part of the long term plan. 9-5s for 40+ years wasn’t an option.
Today? Joe is still at his job and hasn’t pulled the trigger on a biz (I hope he does). I still have one too, but I’ve also invested nights/weekends into a SaaS for nearly 4 years. Not at escape velocity yet, but getting closer day by day.
Moral of the story - start now. Don’t wait for inspiration. Don’t talk yourself into thinking that it’s too hard, that you don’t have time, or any other excuse that comes to mind. Just start.
Back to it….
Inspiring:)
What software are you building?
Absolutely loving these WallStreetPlayboys vibes
Twenty years ago I inherited my friend’s role at a tech product company. My friend ingeniously built up a strategic alliance dept that got partners and suppliers to give MDF which was essentially pure profit. Thus long as I kept the MDF coming in, I was a net profit center for the company. So I used my vast spare time to start a PR consultancy. Posted some free ads on Craigslist. Bought books to learn PR. Got one client who cut me a $10,000 check. Today with YouTube and all the tools available, there’s no reason someone cannot become an expert consultant in any field. Problem with consulting is scale. As BTB puts it, it’s trading hours for money. Granted you are earning more but it’s still capped. But now you have a lot more money to funnel into testing Ecom ideas. It’s basically free rolling.
How do I get to the old ecom biz reads? I am new here
Organized posts at end of every monthly Q&A
Be me. W2. High performer. Create a new profit center at small company. It grows to top rev source for company. Don’t take BTB advice on not leaving profit center. Get talked into training role. Biz downturn happens. Training/my job is cut. Had to feel the pain to now start up wifi biz.
I'm presently a master's student in one of the best technical institutes in my country (somewhere in South Asia). Heading into the semiconductor industry. I figured being a wagie isn't something I want.
I just paid up for premium, I hope this all works out.
Just say you’re Indian bro
b-but
I know you always say quit your W2 when your online earnings are 2* W2, but is there also a total net worth number (in crypto), where you would suggest quitting your W2 without having an online income yet (and maybe only do some online consulting)? Some people may have focussed on building up their crypto portfolios over the past years, without yet having an online business. Following all the macro and crypto developments and allocating accordingly takes time, too. Thanks!
No.
If you don’t like your job and your pay is very small compared to your net worth (let’s say less than 5%), then it’s time to quit. Is it this what you were asking?
Yes, thanks, am also thinking something around 2.5% - 3.5 % (annual net income vs total crypto assets), given the volatility of crypto. Could of course be higher, if you had any significant other assets. And will probably also depend on market cycle.
What’s jungles thoughts on Costa Rica property? Revenue generating as an eco resort.
If you have niche info go for it, we're primarily focused on internet based businesses.