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Suits Offline
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Post: #551
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
As noted before, I've been working on being more productive recently. I've already made a ton of improvements, but even so, I've come to the conclusion that I have too much freedom, which has lower my appreciation of the free time that I have. Simply put, I need spend more time working (so that the time I spend relaxing will be more enjoyable).

I have three days a week that I have free time in my schedule and enough energy to get things done. The other days are either a full day off work at various teaching sites or designated recovery time.

On the three remaining days (Wednesday-Friday), I have work in the evening at 4PM, which leaves me plenty of time to get things accomplished. As such, I've given myself the following rules for those days.

(1) I can check email, visit RVF, check Facebook before 9AM, but after that I need to either be working or on my way to the place where I plan to work for the day, such as a coffee shop.

(2) I can only watch TV shows and movies after 9PM.

(3) From 10:30-3:00, I should be working non-stop aside from eating, just like I would if I had an office job with a boss breathing down my neck.

(4) I must track the hours I put into work on Monday, Wednesday, Thursday and Friday.

(5) Tuesday is a complete mental health day. If weather permits, I must spend at least an hour hiking or enjoying in other healthy physical activities. No watching TV shows or movies until after 7PM, but reading a book and cooking for pleasure is encouraged and permitted at any time of the day.

I'm the King of Beijing!
(This post was last modified: 06-07-2017 02:26 AM by Suits.)
06-07-2017 02:26 AM
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Australia Sucks Offline
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Post: #552
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
Suits, those are really good "problems" to have. You are in a great position. When you become more successful in life you trade your problems for better problems.
(This post was last modified: 06-08-2017 02:47 AM by Australia Sucks.)
06-08-2017 02:47 AM
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Suits Offline
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Post: #553
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(06-08-2017 02:47 AM)Australia Sucks Wrote:  Suits, those are really good "problems" to have. You are in a great position. When you become more successful in life you trade your problems for better problems.

I agree. It's easy to get pissed off that "I have to work 3 hours this evening, so it's inconvenient to do anything else today," but every time I go to a coffee shop to work and all of the staff are stuck there for 8 hours and bored out of their minds, I'm forced to count my many blessings.

At the same time, the imperfections of my situation are a good driver for pushing forward towards my goals.


I put in 4 hours yesterday and 4 hours today. Got a lot of work done that I've been meaning to do for a long time, but never prioritized.

Simply refusing to give into any distraction has been very helpful. It forces me to work on a problem until I solve it, which is a pretty critical thing to be able to do when you are in a product development phase.

I'm the King of Beijing!
(This post was last modified: 06-08-2017 03:55 AM by Suits.)
06-08-2017 03:49 AM
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Post: #554
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
Great posts, Suits. I agree and find that setting up boundaries for when to work and play helps me focus my energy much better. I find that I have different periods of productivity throughout the day and feel those rhythms coming on so I really limit distractions and stay committed to the higher-value activity.

I do product development / R&D on parts with tight machining tolerances (+/- 0.001") so knowing I would waste a part due to a mistake at a critical step helps keep me fully present.

I also really love taking a 30-45 min walk midday, especially after lunch. It helps the food digest and also stimulates ideas for when I'm back in the shop. Finding and keeping a healthy rhythm is truly a joy that can come with being your own boss.

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06-09-2017 01:09 AM
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Post: #555
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
I'm launching my first Shopify store today. I've been working on it for the past week and in that time I've found it helpful, in order to make the mental shift from employee to entrepreneur, is to think of my job as a side hustle for money to put into my business.

I used to like my job a lot but it's getting to the point where I can't really face spending much more tme there. Thinking of it in this way rather than something permanent helps make it easier and also helps to reframe my thinking so I can start taking on a more business-, rather than employee-focused mindset.

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06-11-2017 02:18 AM
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Post: #556
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(06-11-2017 02:18 AM)Praetor Lupus Wrote:  I'm launching my first Shopify store today. I've been working on it for the past week and in that time I've found it helpful, in order to make the mental shift from employee to entrepreneur, is to think of my job as a side hustle for money to put into my business.

I used to like my job a lot but it's getting to the point where I can't really face spending much more tme there. Thinking of it in this way rather than something permanent helps make it easier and also helps to reframe my thinking so I can start taking on a more business-, rather than employee-focused mindset.

Wishing you success with this.
06-12-2017 05:28 PM
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Post: #557
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
Shout out to Robert Kiyosaki here on RVF. I know you are reading. Thanks for your invaluable advice and books.
06-12-2017 05:34 PM
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kirdiesel Offline
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Post: #558
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
I heard a quote somewhere any I can't remember where but I am starting to wonder if theres any truth to it.

"You can't get rich selling to broke/poor people"

I am selling luxury clothes on eBay hardcore and the demographic there is starting to annoy me.

-Constant Low Ball offers
-Items moving a little slower than I'd like although my prices are close to 50% of what you'd pay in the store.
-People buying items and taking days to pay for them...

Dont get me wrong. I am number 1 in my category in the US and im doing well but I think should be making SERIOUS bank from this. Not sure what the issue is. Guess the demand isn't quite where I think it is. Luckily its a side hustle.

Maybe its the summer season slowing me down a little.

Any do you guys know of websites which are good to sell new and used luxury clothes on instead of eBay?

I am heavily looking at Styleforum for the mens items now to see if thats any better.

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(This post was last modified: 06-12-2017 06:23 PM by kirdiesel.)
06-12-2017 06:21 PM
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Post: #559
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(06-12-2017 06:21 PM)kirdiesel Wrote:  Any do you guys know of websites which are good to sell new and used luxury clothes on instead of eBay?

I am heavily looking at Styleforum for the mens items now to see if thats any better.

superfuture.com or grailed.
06-12-2017 07:15 PM
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raynman Offline
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Post: #560
RE: The Entrepreneur / Business Owner's / Self Employed Lounge
@kirdiesel.
Problem with selling tshirts is the profit margins ain't so great. If your doing the Dropshipping thing I'd guess you're getting them from China for around $9 and flipping them for around $20?
Why not try your hand at selling a more expensive but ultimately more profitable product?
Making 50 sales at $100 profit a piece most def beats making 100 sales at $10 profit.

Or better yet you could startup your own custom print on demand biz and sell your own custom designs for waay better margins using shopify or woo commerce.
Pm me if you need more info
06-12-2017 07:20 PM
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Suits Offline
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(06-12-2017 06:21 PM)kirdiesel Wrote:  I heard a quote somewhere any I can't remember where but I am starting to wonder if theres any truth to it.

"You can't get rich selling to broke/poor people"

I am selling luxury clothes on eBay hardcore and the demographic there is starting to annoy me.

-Constant Low Ball offers
-Items moving a little slower than I'd like although my prices are close to 50% of what you'd pay in the store.
-People buying items and taking days to pay for them...

Dont get me wrong. I am number 1 in my category in the US and im doing well but I think should be making SERIOUS bank from this. Not sure what the issue is. Guess the demand isn't quite where I think it is. Luckily its a side hustle.

Maybe its the summer season slowing me down a little.

Any do you guys know of websites which are good to sell new and used luxury clothes on instead of eBay?

I am heavily looking at Styleforum for the mens items now to see if thats any better.

For the truly motivated person who want to do more than simply earn a living income and avoid working for a boss, this gig will never be more than a side hustle.

Respect it for what it is, but use what ever cash and freedom it affords you to build a real business.

The problem with Ebay is that the barriers to entry are low and even being number one in your category is a huge step down from having a almost completely unknown brand.

As well, you low real control, because Ebay and Paypal set the rules and you're just a tiny statistic to them, meaning that you only have as much power as they are willing to give you.

Worst problem of all is that there is no scalability.


I respect your hustle, you've done what few would have the ambition to follow through with, but in the end, you do need to set your sights higher.

My recommendation? Create a product (or preferable a line of products) that solves a real problem, could be successfully marketed within the budget you have for that and can be scaled successfully.

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06-12-2017 09:30 PM
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(06-12-2017 06:21 PM)kirdiesel Wrote:  I heard a quote somewhere any I can't remember where but I am starting to wonder if theres any truth to it.

"You can't get rich selling to broke/poor people"

+I am selling luxury clothes on eBay hardcore and the demographic there is starting to annoy me.

-Constant Low Ball offers
-Items moving a little slower than I'd like although my prices are close to 50% of what you'd pay in the store.
-People buying items and taking days to pay for them...


Dont get me wrong. I am number 1 in my category in the US and im doing well but I think should be making SERIOUS bank from this. Not sure what the issue is. Guess the demand isn't quite where I think it is. Luckily its a side hustle.

Maybe its the summer season slowing me down a little.

Any do you guys know of websites which are good to sell new and used luxury clothes on instead of eBay?

I am heavily looking at Styleforum for the mens items now to see if thats any better.


(1)
The problem with low ball offers (90% of the ones I have received are insultingly low) I have solved rather easily - I have set ''auto decline'' beneath a certain amount.


(2) High end stuff (especially brand new!) usually tends to sell slow (sometimes painfully slow). Some of my stuff took more than a year to sell. But...as long as margins are good...I am fine with that!


(3) I had 3 people who bought stuff from me, for which they did not pay (or even bothered to respond to my messages). Most people online behave like scum, because, in the case of Ebay, they are protected like an endangered species (while us sellers are treated like dirt). There is not much you can do here, except to open an UIC and put them on ignore list once the UIC is resolved.



Try to sell on Styleforum (especially your top of the line stuff), and let me know how it goes. I would not bother with Bonanza, Grailed...they do not have much traffic.



I am also thinking of an RVF marketplace, in which we can sell stuff and services to each other (and Roosh would get a commission - I would rather give a sale fee to him than to some SJW friendly entity, if you ask me).

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(This post was last modified: 06-16-2017 06:33 AM by Irenicus.)
06-16-2017 06:27 AM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
- I am going to have to start auto declining cause these idiots are getting out of control.

- I am looking at starting to sell on Styleforum because there could be a demand on there. Also I wouldn't have to bother with the goddamn eBay fee.

Suits you are so right. I kill it at any sales gig I get but I hate working for companies and prefer to be an entrepreneur. I need to find something thats more scalable.

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06-16-2017 06:39 AM
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Anytime luxury or high end stuff becomes. More accessible access and price wise you open it up to poles and riff raff. I am talking the person who works as a real estate receptionist part-time but still.likes to splurge on (discount) LV and Gucci. These people have no common manners and do the have that much money. Always will be a pain to deal with them.
06-16-2017 08:41 AM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
Hey All,

Just got through reading 23 pages of all this thread. Great, great info here and I may PM some people (who have asked to be) in order to get and give more insight and make connections.

I started a side business with some beachfront property that I bought 10 years ago. I could only afford it because the property and house were in utter and total disrepair, but it still took up all my money. Then only slowly but steadily could it get cleaned and fixed up, a process that took years since I was working in a different country (making very good money for my age) and simply not available to really get things moving. But right after I bought it I was in the black based on the bank valuation alone for the loan.

I knew, as well as everybody who went there, that this place had potential, but like what's been pointed out here, is that it's all in the execution. Finding the right manager and staff has been absolutely instrumental, followed by customer service and then marketing and using the right platform. When the right amount of review came in for vacation rentals, it more or less became instantly successful, not to make me rich but get some good side money to stay ahead of the mortgage and do constant improvements, thereby increasing my equity and customer experience.

The recent challenge has been that competition for vacation rentals has increased 3x in the last 2 years. Thankfully I got started a little ahead so my reviews and standing in the platform I use (prefer not to disclose just yet) keep me top listed, but not at the top like I was always before.

This is actually a good thing since I was getting complacent with vacation rentals. Certainly not complaining, it's decent money, but it's actually quite a bit of management and hassle for not a whole lot of money. This has pushed me to focus more on event hosting at the property (destination weddings, parties etc...), Where I can earn in one day what I can get in 4 with less hassle and negative review paranoia. If I can really get going, one fancy wedding could possibly cover what I make in a month otherwise. This is just the property, not any catering, which I could expand into later but that's a whole other hassle.

That transition will need some more investments to let it accomodate large groups of lets say up to 100ish. I don't have or want to spend a lot of money on it, just the right amount for what counts. Many people on this forum, rightfully, say don't go cheap on x,y,z. But in hospitality, at least from my limited experience, you need to be very selective and tactful on what you spend your money on. A perfect example is every new guest checks in an has a fresh coconut with straw in the fridge for them. I source that either off the property directly, or buy for almost nothing. That single thing for whatever reason has had such a positive effect on the guests as probably a brand new $1000 couch set that would immediately get scratched up and depreciate.

Does anybody have experience in this sort of area? Would love to get substantive feedback.

Also I am getting in to dropshipping shortly so I may contact some people about that as well.
06-16-2017 07:03 PM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
Anyone have experience with Payoneer?

Link: https://www.payoneer.com/home/

They offer a debit card, which is cool, and you can bill from them directly like with Paypal. Might be a good alternative to Paypal.
06-19-2017 01:21 PM
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Vladimir Poontang Offline
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge

That's not how we do things in Russia, comrade.

http://inspiredentrepreneur.weebly.com/
(This post was last modified: 06-22-2017 05:54 AM by Vladimir Poontang.)
06-22-2017 05:51 AM
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Quick question. There are certain professions that are considered so valuable that you could say that they'll always be in demand. For example plumbing. Would it be fair to say that something like copywriting is the plumbing of the internet? I ask this because I'm reading an article on ROK right now about copywriting, and I might be interested in considering it.

That's not how we do things in Russia, comrade.

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06-22-2017 05:55 AM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(06-22-2017 05:55 AM)Vladimir Poontang Wrote:  Quick question. There are certain professions that are considered so valuable that you could say that they'll always be in demand. For example plumbing. Would it be fair to say that something like copywriting is the plumbing of the internet? I ask this because I'm reading an article on ROK right now about copywriting, and I might be interested in considering it.

The real question isn't about demand, but rather supply. The demand for services with a drop-shipping business model, for example, hasn't subsided. It's grown.

But it's probably a mistake to pursue that business model as a standalone business right now, because millions of China-based drop-shipping business have killed the profit margins.

However, if you are providing a level of value (copywriting that produces more sales than 94% of your competition) and you can clearly demonstrate that value to a potential client, it's probably safe to say that you will always be in demand.

I'm the King of Beijing!
06-22-2017 10:52 AM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
(06-22-2017 05:55 AM)Vladimir Poontang Wrote:  Quick question. There are certain professions that are considered so valuable that you could say that they'll always be in demand. For example plumbing. Would it be fair to say that something like copywriting is the plumbing of the internet? I ask this because I'm reading an article on ROK right now about copywriting, and I might be interested in considering it.

Copywriting is just sales in writing, so as long as people can be convinced to buy something, people with sales skills will always be in demand.

Plumbing could become obsolete with sufficient technology. With sales though, as long as people have emotions, there will be salesmen.
06-22-2017 10:59 AM
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(06-22-2017 10:52 AM)Suits Wrote:  The real question isn't about demand, but rather supply. The demand for services with a drop-shipping business model, for example, hasn't subsided. It's grown.

But it's probably a mistake to pursue that business model as a standalone business right now, because millions of China-based drop-shipping business have killed the profit margins.

You are correct. As I said in my earlier post I'm trying to get into some drop-shipping ish. I think I may have found a good niche to exploit, but my business partner and I are also looking at some conventional goods to enter into. I will report more as things develop, but in short this is what I'm either seeing or suspecting:

1. With the right creativity and imagination, you can sell something unique for a profit.

2. That profit won't be great and long term sustainable - unless you have direct manufacturing assets. Without being able to scale and dominate; competitors will quickly swoop in.

3. There are literally thousands upon thousands of people around the world with much more time and desperation than you who are trying to exploit ever "angle" out there. Expats living on a dollar a day in Thailand who are willing to arbitrage things for a 10c profit. Aspberger types looking up every product sold and contacting Alibaba to see if they can get one made cheaper. They are thinking about every conceivable easy buck to be made via drop-shipping, ebay reselling, chinese manufacturing, etc...

That is your competition. Hungrier, thirstier, more desperate than you imagine.
Don't think you're idea is so special, because :pimp:probably someone else has come up with, or will steal it and cut into you as soon as you get successful. Hell, even Amazon does this with it's own sellers. So I'm trying to be as humble as possible with every idea I have, asking all the deep and the background questions: why is my idea so special?

4. That said, just moving forward with even a bad idea can build momentum into other things, just don't make it costly.

^the above observations are free and quite possibly worthless, but just what I've seen and how I'm mentally guiding myself.

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06-22-2017 02:01 PM
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RE: The Entrepreneur / Business Owner's / Self Employed Lounge
The best options are to either to create a useful product that for some reason only you can manufacture (do to secret knowledge, a patent/copyright or other competitive advantage), create a venue (a place where people come to buy things) or an entertainment source (where people come to be entertained and you can trade access to eyeballs for cash).

The first is difficult, because few people have the creative ability to create something useful, the third is a challenge, because you need a lot of eyeballs to be able to convert them into a meaningful, long term sources of income.

But the second shows a lot of promise. This can be accomplished by creating valuable website or blog where people come to get good information and will be more than happy to buy any product you offer under your brand (even if for no other reason than to show their support). Then you can start drop-shipping/selling a private labelled good in your name/having a ghostwriter put together a book for you, because while people can easily copy the product, they don't have your audience. The product need not be all that unique.

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06-24-2017 11:15 AM
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I need a company in the Netherlands where I can receive mail/packages and will hold it for me until I swing by and pick it up. (I don't have residency in the Netherlands)

Would that be a mail forwarder?

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06-25-2017 08:02 PM
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(06-25-2017 08:02 PM)kirdiesel Wrote:  I need a company in the Netherlands where I can receive mail/packages and will hold it for me until I swing by and pick it up. (I don't have residency in the Netherlands)

Would that be a mail forwarder?

Your best bet would be to contact some mail forwarding businesses and ask them if they also offer the service that you need.

I'm the King of Beijing!
06-25-2017 08:19 PM
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(04-04-2017 04:02 PM)Ringo Wrote:  Cool video by the 24-year old owner of Gymshark, a very popular gym clothing brand, talking about how the company came to be.





Guy has been on the online game since he was a teenager, created apps, and started Gymshark as a dropshipping business selling supplements, while still delivering pizzas part time. Respect.

By the way, this is his girl:

[Image: d899454e924310cf12f0e4bc39ec912d.jpg]

Wb2

Update: Francis left the post of CEO of his company. He's still the owner/major shareholder, but he'll now be signing as Chief Brand Officer and focusing on the development and evolution of the brand.





I find this fascinating because he's giving up the top post in the company to work on what he's most interested in.

Datasheets São Paulo, BR | Diamantina, BR | Osijek, HR | My most reliable opener
06-26-2017 10:15 AM
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