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Venture Capital?

  • #21
  • Oct 18, 2010 1:15pm Oct 18, 2010 1:15pm
Quoting kingfisher
1) Recently few months back, Emirates Dubai wanted to hire 50 american graduates for salary of $ 27,000 per annum to be based in Dubai with free food and accommodation.

They could only found out 7 Americans who are interested. Rest of the Americans found salary to be of low class given the relocation involved.
That's an amazing statistic. I guess even inside the world of searching for jobs there's ways to think outside the box.
  • #22
  • Oct 18, 2010 1:35pm Oct 18, 2010 1:35pm
Quoting kcardinalis
I actually don't have student loan debt, thank goodness. My college was paid for - and you're right; this is one more thing for me to be grateful for. At least what was wasted was time, and not money, or this situation would be even worse.
Well that is verrrryyyy good to hear. I know a couple people who are 23 to 25 with 100k in debt and they don't even own a home or have a mortgage! When I attended college my college was paid for with mutual funds from the grandparents. Unfortunately, they turned a cold sholder to the warning I had passed onto them about the financial collapse and therefore going into my 2nd year I was looking at needing to get loans to finish college for my third and fourth years. I think that's what really got me thinking, because debt can be the biggest burden in a person's lifetime. It's the big elephant in the room that nobody wants to talk about.

Quoting kcardinalis
It's great hearing these things stated plainly by someone else, and you sound like a courageous person for making your own path.
Thank you for the compliment. Not a day went by or still goes by that I don't take criticism from others for my choices, despite my pleasant position in life. I often get told that I'm arrogant and "think I know everything about life..." although I think it's the exact opposite. You have to be pretty arrogant to think you know the best path in life and never ask any questions about it! I see you're questioning the path to take in life and I honor that respectively because it means you're willing to learn and consider all the options. I'll never quit asking questions.

Quoting kcardinalis
I think more of what I was looking for when I started this thread were some details on the "how" some of you made it. You said that you started some businesses, David. What businesses did you start, for example? What was that process like for you? This is the sort of creative solution I am interested in.
My methodilogy for thinking was that every object (or product) has a creator. Someone owns the company that makes the chair you're sitting on, and on that chair another company makes the screws, finishes, fabrics, and other things that go into the chair. Someone get's paid to print signs for freeways. Someone get's paid to make forks. Someone get's paid to make the commercials we see on TV. Look at your computer screen... someone got paid to make the logo for it! Once you realize how many different opportunities there are out there, you also realize that there's some business owner behind it who is most likely a millionaire for it, no matter how small the piece to the puzzle of the world it may be.

I promoted night clubs while I was in high school and always knew it made bank with very little start up cost. When I started my summer after a year at college and knew I wasn't going back, I started up a nightclub promotional company. The fee's and licensing was only about $250 I made from working. The only method I need for starting it were several myspace accounts and a $30 friend adder software program. When the guest lists started pouring in for different clubs and the commission stacked up, I started to be able to afford to rent out venues to host events and take away more profit for the promoting. All in all it became entirely automated and was able to generate income with no expenses down.

My college fraternity ordered about 6 shirts a semester for each guy, including another 6 for a girl to accompany them with. That's 12 shirts a person for about 60 major fraternities and sororities at every major university in the US. The shirts only cost about $2-3 to make, about an hour setup for each job and 15-30 seconds to make each one, yet they sell for $12-$30 a piece. I did that successfully for the first semester following quitting college and made bank at it, but overall it was too much "actual work" for me to continue doing it. Also, unlike trading, a certain amount of physical work input only produces a certain amount of output. In other words, it had a capped income.

QuiBids.com has to be the greatest business idea ever. Charging $.60 a bid that only raises the bid by $.01, an auction that goes for $30.00 for an Xbox 360 Elite that costs $299.99 brings in $1800 in revenue alone just in commission for bids. Additionally, they sell items like a store so if you lose, you can still buy the item from them at retail price. Most ingenius marketing idea ever.

The ideas are out there, you just have to find them. My idea for trading was to find a way to keep the money I made in motion. After I figured out the inner workings of it, I realized it's potential and chose to stick to it full time.
  • #23
  • Oct 18, 2010 1:59pm Oct 18, 2010 1:59pm
Thanks again, David. This stuff is gold. "Once you realize how many different opportunities there are out there, you also realize that there's some business owner behind it who is most likely a millionaire for it, no matter how small the piece to the puzzle of the world it may be."

Sometimes hearing the ideas that changed other peoples' lives helps me rethink my own ideas. And this is exactly the sort of experiences I was looking for. Thank you so much for taking the time to provide the details! I'm sure that other people will find your choices encouraging too.

It's great to meet you, btw.

K.

Quoting DKallDAY
My methodilogy for thinking was that every object (or product) has a creator....
  • #24
  • Oct 18, 2010 9:09pm Oct 18, 2010 9:09pm
Quoting kcardinalis
Thanks again, David....
It's great to meet you too.=) And once again I'm glad all that typing isn't wasted! haha. When you're striving to be that top 1%... you'll find that the other 99% doesn't agree with you. When you feel so alone with your ideas and finally find someone with the same mindset (whether they be less far on their path or much much further) you can't help but talk as much as possible, it's kinda like gettin' it all out.

I also favor the "mentor-apprentice" relationship over a "teacher-student" relationship. The saying "those that can do, those that can't teach" is so freaking true. Why pay a guy that doesn't do business to teach you it when often times those lonely 1% guys are dying for someone to come along and start asking questions about it, they are more than willing to teach. I have several older mentor like figures that I look to for guidance. They never once spoke their opinion before I asked, but when I did... they went off for hourrrssssss about how the world works. Invaluable, oh and free!
  • #25
  • Oct 19, 2010 12:02am Oct 19, 2010 12:02am
Quoting kcardinalis

Definitely a big misunderstanding here that I'm looking for "free money" - or that I'm not a hard worker. What I am interested in are new ways of looking at an old problem.
Sorry if I misinterpreted the tone of your post.

This old problem is something that I think about every day. Sometimes I wonder why everyone isn't more concerned about getting out of the rat race and freeing themselves to live an independent, unrestricted life.

Many times when I bring up the subject, people reply "start buying lottery tickets" or they somehow assume that I need millions of dollars to quit my job and live free. I have calculated the cost of living my dreams ... and it is approximately $7500 per month (some awesome dreams ). This is an easier target than a million and in my opinion much easier to achieve. I recommend taking the time to write down the things you really want and then put a price beside them. The goal might not seem so far away.

One thing I know for sure is that my boss will never pay me enough money to quit my job and be free because it is not in his financial best interest... I make him way too much money. Figure out how much income you require just to stay afloat, and try to get that base number with as little effort and time as possible. Put the rest of your time and energy into your own pursuits and endeavours. Dont fight too hard to get to the top of the corporate ladder, unless your goal is to get a 4% raise a year and a pat on the back... your energy is better spent elsewhere.

Maybe not the practical examples you were looking for but I am still trying to figure it out myself. I will be sure to bring up this thread when I am retired in a hammock on a beach somewhere hahaha!
  • #26
  • Oct 19, 2010 3:34am Oct 19, 2010 3:34am
Hi there I agree 100%

If I must make money to live on I do a lot more emotions and greed and fear and it doesn't work well for me. The best trades I had were when I didn't care much if I am right or not and if I would loose whatever I decided I could lose for that trade.

By the way is anyone keen to recommend training course or training in London.

Thanks

Quoting GulfCoastPip
Yes I mean to be blunt.

Get a job, any job! Keep a roof over your head, electricity on, and water running. You can do that with any job....if not, you're living beyond your means. Move into a cheaper place!

You can trade anytime. It takes time to be professional trader, doctor, attorney, engineer, business owner, etc... Don't think you can start at the top! You're no more a professional trader than Joe Blow that started trading yesterday! Earn it and you'll appreciate it.

Nobody in their right mind would give you capital to trade!
  • #27
  • Oct 19, 2010 5:21am Oct 19, 2010 5:21am
What is your degree in?
  • #28
  • Oct 19, 2010 5:51am Oct 19, 2010 5:51am
Alleluia,
Well said.

What I meant is that if I must make money to pay my bills without having substantial equity in my account I will feel under pressure that I must win and wont be able to stay in the zone and follow the market.
So If i want to take out of my account $8000 a month I think I should be making about at least 10-12 grant each month. To me that seems very ambitious if the equity in my account is not at least 100k

Quoting Free4Life
Sorry if I misinterpreted the tone of your post.

This old problem is something that I think about every day....
  • #29
  • Oct 19, 2010 10:03am Oct 19, 2010 10:03am
Quoting Free4Life
Sorry if I misinterpreted the tone of your post.

This old problem is something that I think about every day. Sometimes I wonder why everyone isn't more concerned about getting out of the rat race and freeing themselves to live an independent, unrestricted life.

To be fair, as long as you must peacefully coexist with other people, spouses, children, and whatnot, there really is no such thing as an "unrestricted" life.

But in regards to leaving the rat race, I did it over a decade ago, and not by making more, but by living with less. It's entirely possible.

My situation may be unique, but I simply left the city and moved to a small rural island, and discovered that though I make and have less materially, there are many non-material benefits (lack of drugs and crime to name two) to living in a small community that far outweigh, the supposed opportunities of the rat race.

It's not for everybody, but it suits me just fine.

In the end, because freedom, independence, and quality of life are not measured in dollars, they cannot be bought with them either ( I have known many people with ample income, and equally ample fear, and worry).
  • #30
  • Oct 19, 2010 10:44am Oct 19, 2010 10:44am
I've had the same experience with mentors ... almost every time someone's -offered- me advice unasked for (or worse, just dumped it on me), they've turned out to be utter fail. But it's the people who keep it to themselves unless asked who often are carrying the real gems.

Quoting DKallDAY
It's great to meet you too.=)...
  • #31
  • Oct 19, 2010 10:46am Oct 19, 2010 10:46am
No problems about the misunderstanding. I reckon it's my fault for posting a bit impulsively; that probably tends to create the impression that I'm an impulsive person. If anything my weakness is -not- jumping into things. I've always been one to hesitate when it comes time to pull the trigger.

I think this is great advice. And it's something I haven't done - so I'm going to do it. I've always just assumed I needed some ridiculous, unspeakable amount of money, but I trust you when you say your own dreams are big. So I'm going to calculate it and find out. Perhaps then the long road will look a little more approachable.

K.

Quoting Free4Life
Sorry if I misinterpreted the tone of your post.

This old problem is something that I think about every day....
  • #32
  • Oct 19, 2010 10:47am Oct 19, 2010 10:47am
Quoting moneymaker2
What is your degree in?
Communication.
  • #33
  • Oct 19, 2010 10:50am Oct 19, 2010 10:50am
I unfortunately live in one of the more expensive cities in the U.S. I'd -love- to get out, it's definitely one of my goals for the next couple of years. It's pretty tough though when you're strapped for even enough cash to move. As it is, the rent I pay is about half of what is typical here (by moving into a tiny room in someone's house); I eat mostly vegetables for their cheapness, and my entertainment consists entirely of using the library. Budgeting like this has been the only reason I haven't utterly drowned here--but I think getting out is key.

Plus, city life isn't for me. I like a slower pace.

Quoting Low
To be fair, as long as you must peacefully coexist with other people, spouses, children, and whatnot, there really is no such thing as an "unrestricted" life.

But in regards to leaving the rat race, I did it over a decade ago, and not by making more, but by living with less. It's entirely possible.

My situation may be unique, but I simply left the city and moved to a small rural island, and discovered that though I make and have less materially, there are many non-material benefits (lack of drugs and crime to name two) to living in a small...
  • #34
  • Oct 19, 2010 2:27pm Oct 19, 2010 2:27pm
Quoting kcardinalis

I've always just assumed I needed some ridiculous, unspeakable amount of money, but I trust you when you say your own dreams are big.
Time, money and energy all play a factor in their own way. I think we will need all 3 to solve this problem.

Money can't buy time or energy... but it may be the easiest of the 3 to create in abundance.

When you have an abundance of time and energy you can create alot with very little money.

My own life situation has left me with little time so I try to compensate by increasing the money and pursuing my passions with high energy.

I am rambling... too much coffee today hahaha!
  • #35
  • Oct 19, 2010 3:05pm Oct 19, 2010 3:05pm
It sounds to me like your looking for a be all and end all and thinking trading could be that for you!

If your dedicated then of course it could be but then the problem could be that you are too stressed and unfocused due to your other financial problems.

I do think you need to focus on getting a job first and easing your financial difficulty so that trading can start off as a hobby and not have the possability to actually cause more harm to you than good.

forextom
  • #36
  • Edited 4:09pm Oct 19, 2010 3:57pm | Edited 4:09pm
Hard Luck.....

Dont feel to bad, your not alone . I joined the Army at 18, deployed to Iraq for 15 months at 20. During my deployment I worked 12 hour shifts monday through Saturday, on Sunday I was given 6 hours off.

During my 15 month tour I saved almost all of my money and became HEAVILY interested in currency trading because of the almost limitless income potential and ability to help others less fortunate. After returning home from my deployment I insanely deposited almost all of my 25k savings into my trading account with the fantasy of making money with only 4-5 months of "deployment" study .

Long story short, within 6 months I had blown my entire trading account, EVERYTHING.

Only now am I starting to gain a foothold (I think).

Moral of the Story: Intelligent Perseverance

Just thought I'd share
Annoying Precision
  • #37
  • Oct 19, 2010 7:17pm Oct 19, 2010 7:17pm
8 Years ago a person I met could not find a job. Was having a hard time paying the bills, was under a lot of pressure. She was stressed and complained about it, like many people do. I will tell you what I told her.

Brace yourself, you may not like it.

You want to find the blame of your problems? Go look in the mirror! You want to complain about the issues your having? Complain about yourself!

Figure out what you want, that is the first step to getting what you want. Figure out what you want that will help you get what you want in step one. That is the second step. Keep repeating. Do not give up until you get what you want originally.

If you are working towards what you want, you will get it. If you are working towards something someone else wants that you do not to in order to try to get it, you normally won't get what you want, nor will they get what your trying to give them.

She wanted to be able to support herself. So she was looking for a job and working for others. She didn't want to work for someone else, she wanted to work for herself.

See the conflict in what she wanted, and what she was doing? See the results she was getting? It was no surprise to me.

When she finally figured out I was not going to accept excuses and reasons why she couldn't nor was I going to let her give up, and she started thinking about ways she could and wanted those as well, and did those instead, she got what she wanted. She owns her own business.

Quit looking at the reasons you cant and reject them when others bring them up. Look at the ways you CAN.

Myself? I am a 9th grade high school dropout. What kind of future did I have when I quit school? It was pretty bleak for me right? Yes, many fail at many different things and have a hard time in life.

Me? In 2000 I wanted a job that required a college degree, and I wanted it at a specific company. I had never worked in the field so had no experience either. At first they would not even talk to me, when they finally did they gave me every reason in the book they would not hire me. Guess what? I wanted that job, I kept at it, I refused to accept their excuses of why I could not get it, I refused to give up on what I wanted.

I got that job with no degree, no experience, with everyone telling me no all along the way including my own friends trying to get me to give up on it. Was it instant? No, it took me almost a year. Was it easy? No. Was it worth it? Yes.

I left that job after 6 years, that was almost 5 years ago. I no longer wanted to work for someone else, I did not want to have to worry about a schedule, I wanted to work when I wanted, I wanted to be able to afford what I wanted when I wanted it. I don't give up on what I want. I had no clue how to go about it or what I was going to do when I decided to leave the company, with little money to live on. Guess what I got?

Do not let anyone tell you can't do/have something or why (Many people have done that to me most of my life, yet most of them are the ones the do not have everything they want, and cannot do anything they want.). Do not give up and show them you can. It may not be instant, it may not be easy, but you will be happy and it will be worth it when you get it.

Now the big question is...
What do you really want? You can do them, and you can have them. Not just you, anyone.

Need proof? Look at all the things that could not be done since it was impossible to do them, that have been done. People with a good perspective and the perseverance to see it through, achieve the impossible all the time.
  • #38
  • Oct 19, 2010 7:28pm Oct 19, 2010 7:28pm
... That's one painful story. But what impresses me is that after all of that - discouragement levels that my story doesn't even begin to touch - you started over and like you said, are (hopefully) starting to gain a foothold. That's amazing perseverance.

Thank you for sharing your experience with us. And I wish all the best to you.

Quoting erikte279
Hard Luck.....

Dont feel to bad, your not alone . I joined the Army at 18, deployed to Iraq for 15 months at 20. During my deployment I worked 12 hour shifts monday through Saturday, on Sunday I was given 6 hours off.

During my 15 month tour I saved almost all of my money and became HEAVILY interested in currency trading because of the almost limitless income potential and ability to help others less fortunate. After returning home from my deployment I insanely deposited almost all of my 25k savings into my trading account with...
  • #39
  • Oct 19, 2010 7:32pm Oct 19, 2010 7:32pm
Quoting kcardinalis
... That's one painful story. But what impresses me is that after all of that - discouragement levels that my story doesn't even begin to touch - you started over and like you said, are (hopefully) starting to gain a foothold. That's amazing perseverance.

Thank you for sharing your experience with us. And I wish all the best to you.

You should see what he posts...Eric knows his stuff. Definitely a trader worth watching.

Just remember, shooting yourself in the foot is always 1 trade away.
  • #40
  • Oct 19, 2010 7:33pm Oct 19, 2010 7:33pm
You can't even imagine how much better reading this made me feel. "She wanted to be able to support herself. So she was looking for a job and working for others. She didn't want to work for someone else, she wanted to work for herself." That actually describes much of what i've gone through pretty well. I finally reached a point about a half a year ago where I realized it, but I've yet to find a sustainable business for the time being that I can rely on in this intermediate period. I've been selling some of my art - but it hasn't really gained a lot of momentum, and I think I need to figure out something more utilitarian I can also do. What did your friend end up doing for her business?

Your story about that job is wonderful too. Reminds me of that film, the Pursuit of Happyness. Which I know is based on a true story - but it's very rarely you get to actually hear from people who have really done things like that. And that you then had the courage to move on again to the next thing (did you go straight to forex, or did you also create an intermediary business?) is inspiring too.

Thank you for taking the time to post.

And thanks to everyone else too who has been replying to this thread - I had no idea that so many people were going to be willing to share their stories.

K.

Quoting FXEntry
8 Years ago a person I met could not find a job. Was having a hard time paying the bills, was under a lot of pressure. She was stressed and complained about it, like many people do. I will tell you what I told her.

Brace yourself, you may not like it.

You want to find the blame of your problems? Go look in the mirror! You want to complain about the issues your having? Complain about yourself!

Figure out what you want, that is the first step to getting what you want. Figure out what you want that will help you get what you want in step...
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