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Post by Hexspa on Jul 9, 2016 18:32:02 GMT
Just wanted to start a thread on making money doing things you enjoy.
Lots of people get jobs but that hasn't worked well for me. I plan on becoming an affiliate for Syntorial as soon as my room is done. I doubt it'll make me rich but I'll be getting my feet wet in ecommerce and hopefully that'll lead to more involvement and higher income. I mean hey I made $0.31 on YouTube in the last 28 days so that's a start!
Feel free to contribute your story or links to good forums, books and whatnots.
Thanks,
-m
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Post by Ethan Winer on Jul 11, 2016 17:14:40 GMT
I have some advice about making money, though I never got rich so take my advice for what it's worth.  Then again, I've had a very rich and fulfilling life doing what I love, and that matters more than being a millionaire! This short article is mostly about managing your money, but it includes other advice some people might find useful: Be Smart With Your Money--Ethan |
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Post by Hexspa on Jul 11, 2016 18:51:10 GMT
Thanks, Sir. You know what they say: "One day we may have money but today we're rich."
-m
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Post by Hexspa on Apr 28, 2017 19:06:11 GMT
Who's reading this in 2017?  |
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Post by Joe Hamilton on Apr 29, 2017 1:14:21 GMT
This isn't 'How to Make It'; it's more 'How to Wisely Handle It' - Lite reading and interesting as hell... The Millionaire Next Door |
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Post by Hexspa on Apr 29, 2017 6:02:15 GMT
This isn't 'How to Make It'; it's more 'How to Wisely Handle It' - Lite reading and interesting as hell... The Millionaire Next DoorWoohoo! Thanks  |
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Post by arnyk on Apr 29, 2017 13:06:11 GMT
This isn't 'How to Make It'; it's more 'How to Wisely Handle It' - Lite reading and interesting as hell... The Millionaire Next DoorWoohoo! Thanks Good stuff. I think that one good path is to spend enough time with a bigger business to learn the business you want to run on your own before breaking out on your own. |
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Post by Hexspa on May 15, 2017 16:23:34 GMT
Still making my way through The Millionaire Next Door; have already begun tracking expenses more closely.
In fact, just by paying more attention we've saved over $30 in two weeks due to noticing overcharges, wrong (or no) change etc.
I was wondering if anyone has experience with ecommerce solutions like woocommerce?
I want to get a store up and would like to work my net before making any decisions.
Just something to sell digital and physical drop-shipped items is the plan for now; online merch table basically.
Thanks,
-m
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Post by rock on May 15, 2017 22:26:37 GMT
I think saving and investing are simple ways to accumulate wealth albeit slowly at first but as you go, it does snowball! I note that Ethan, it appears, does not advise "most stocks" but even average people can take advantage of mutual funds and ETFs.
Investing in your own business is a great idea but be aware that a great percentage of startups fail within a relatively short period of time. (Sorry, I don't have the stats handy:) So my advice (could be good or bad depending!) is to be cautious with your initial investment at risk...too little invested may not be enough to get things going and too much...well if you go under, it's all gone. From my way of thinking, the less overhead, the better. (BTW you can tax deduct a percentage of Sq. Ft. of your home for business). So an internet e-commerce business could be very low overhead/risk.
Now, I had experience as a manager in one instance and a partner in another among other jobs as simply an employee. I finally decided to get into something I did not need employees or partners etc. I'm a sole proprietor now for the last 20 years. I tune pianos. It's certainly not for everyone but if you can learn how to do it, you can make a decent living and put some $ away and still have time to play in a band and goof off on the internet:) The big problem with piano tuning is that it is not scaleable (boo).
Cheers,
Rock
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Post by Hexspa on May 16, 2017 3:37:31 GMT
I think saving and investing are simple ways to accumulate wealth albeit slowly at first but as you go, it does snowball! I note that Ethan, it appears, does not advise "most stocks" but even average people can take advantage of mutual funds and ETFs. Investing in your own business is a great idea but be aware that a great percentage of startups fail within a relatively short period of time. (Sorry, I don't have the stats handy:) So my advice (could be good or bad depending!) is to be cautious with your initial investment at risk...too little invested may not be enough to get things going and too much...well if you go under, it's all gone. From my way of thinking, the less overhead, the better. (BTW you can tax deduct a percentage of Sq. Ft. of your home for business). So an internet e-commerce business could be very low overhead/risk. Now, I had experience as a manager in one instance and a partner in another among other jobs as simply an employee. I finally decided to get into something I did not need employees or partners etc. I'm a sole proprietor now for the last 20 years. I tune pianos. It's certainly not for everyone but if you can learn how to do it, you can make a decent living and put some $ away and still have time to play in a band and goof off on the internet:) The big problem with piano tuning is that it is not scaleable (boo). Cheers, Rock Thanks for responding, rock. First off, congrats on making it happen with your business - my current dream is to be self-sustainable. I'm definitely working toward an investable emergency fund. I guess government bonds are good to keep ahead of inflation. Beyond that there's always other options like some that you mentioned. The thing I'm working on, and have been for awhile, is Hexspa. Since my band broke up in 2000-1 I've been on a mission to become a solo artist. It's been a long time coming, I had to learn a lot and develop a number of skills, but I finally feel I know most of what I need. From here, as I see it, it's just about developing a large body of work until something pokes through. Funny enough, I'm currently selling nothing. I think I have a tshirt on reverbnation that I never promote but I've released an EP, several singles and done a handful of shows (and more) but haven't gotten around to trying to monetize in any serious way. YouTube is essentially streaming and discoverability. My site is primarily just a hub and a place where I can offer additional resources to videos. Anyway, enough about me. In your case, you can definitely set up a course on Udemy or whatever and offer training for piano tuners. That would decouple your time-from-earnings and potentially unlock a passive income stream. Songs are like that and that seems to a verified path to higher earning potential. I definitely feel you on the independent route although lately, more and more, I'm realizing the need for teams. Thanks, -m |
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Post by Ethan Winer on May 16, 2017 16:10:21 GMT
Piano tuning is a great one-person business, and it takes real skill. |
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Then again, I've had a very rich and fulfilling life doing what I love, and that matters more than being a millionaire! This short article is mostly about managing your money, but it includes other advice some people might find useful:
