Re:
Depends how much you want? I have a friend who has a moving truck, he charges $75 an hour, pays a guy $18 to help him, gas etc...clears about $50 an hour, works about 100 hours a month at month end = $5000.00 all cash no tax. We have another friend has 7 trucks going month end.
Myself I earn about 40 to 45 an hour after paying for expenses as a self employed carpenter, when I get enough money I just pack up and travel for a month or 2.
Another friend has a big traditional type business, large overhead lot of stress, makes a lot of money but pays a lot of tax, has a lot of headache, his hair has fell out etc...
Doesnt always have to be years at college getting a degree and then borrowing a sh1t load of cash, sometimes simpler is better, all depends what your trying to acheive.
That right there has NUGGETS of what a gentleman on Askmen.com, New2this, has posted about. Purportedly, this guy is one of RK's biggest success stories. Read his story if you can find it. IF it's true, and he still does post there, then there's alot to learn.
Effectively, you are providing VALUE.
Consumer: A good moving price.
Worker: Generous wages, depending on age.
You: Profitability.
In a way, I look at alot of business about ARBITRAGE. There has to be a "gap" or extra profit, or a place where what I do makes sense. If people can nearly duplicate what I do, for little extra money or work, they won't buy or try. If there's a big gap, which we call VALUE, then it works to their benefit to do/buy whatever I offer. Real estate investors do this. You have to buy with built in profits, but more than that, you need a motivated seller with whom you're NOT screwing over by taking their high priced asset. Alot of sales people don't sell effectively because they are not providing anything in that gap...between cost and perceived value/benefit.
I know for alot of jobs/businesses that are very technical the value is high, b/c you have all the time, education, and passion invested, which no one else will really go after. For instance, I'm not likely to do legal work on my own, even if I read the laws. I SHOULD know the constitution, but the GAP between what I need and me being proficient as lawyer can provide is MUCH cheaper. Even if his hourly rate is $250, that's cheaper than what it may cost me in LOST REVENUE or my hourly rate, or to get to where that lawyer is at. However, if a website can provide/sell what a person can do, why pay or use the person? That's why retail clerks don't get much. They don't ADD alot to the process. Even at Best Buy, the product is the product. Buying 1 tv vs. another isn't a HUGE mistake. A car is slightly more, but if you're at a dealership that only sells 1 brand, then there isn't much value from a salesperson. (No offense there).
With Pharma sales and Financial or Tech, the gap is much bigger, to where people really could never be at where a pro is without significant time, and this is where ALOT of people make big mistakes in life. Even with taxes, they use programs, and they may miss something or do it wrong. At least with an ACCOUNTANT they assume legal responsibility for the error and can act as an arbitrator in any situation that arises. If you do your own taxes, you are on own if you're in trouble.
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To me, it pays MORE to understand CONCEPTS in finance, then GO for the specifics, rather than go for SPECIFICS and work the concept. One thing I've learned in being self employed and having 2 successful 'mentors', is...never accept anything. Never accept that the rules HAVE to be the way they are. They can be changed, especially if they make economic or business sense. For instance, alot of hourly workers are fine following procedure, but the major reason and entreprenuer succeeds is because they DO NOT follow the beaten path. They don't dial 1-800, they call the supervisor head to get it done today. They get answers from the source, and when they do, they question the logic behind them. MANY people say "I don't know, that's the rules" not realizing the rules were meant to be broken. Get it? THEY ARE TO broken. Find a way in business to break them. That's where profit is. In a game, the RULES are the game. But in business, rules hold you back, because it preserves conventional modes of operation. Businesses rely on innovation, and if they adhere to rules, they only get the same results. With business, there are no rules. Ethics maybe. But no rules. There's no ONE perfect way to do it.
While some people want RK to say "Here's the path..." you shouldn't want that, b/c no path would exist. It would be a highway, and you know how highways are? Crowded, beaten, slow, broken down, in need of repair, etc. It's the short-cut, the lesser known, lesser travelled path that is faster. Think of it like a clearing in the woods. It can still be GOOD if only a few people know of it. But once it gets known, its no longer secret or a short-cut, it's the LONG way. So RK wasn't wrong at all, the people expecting a miracle short-cut were. He provided ALOT of good concepts in his book and people should read them and speak about them. Point 1: Buy assets, not liabilities, and KNOW the difference. People still think a HOUSE is an asset, but it's not, unless you USE it as one. You'll need a house till you need a casket, and even if you're in a hospital, you'll need the FUNDS to pay for such services, so that BASE will always exist.
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Something else to consider, the ULTRA wealthy don't own businesses they own people. These multi level marketing companies, these businesses, they are abritraging betweem business opportunity and a need filled. It dawned on me one day when I heard a commercial that said "A billionaire investor from a wealthy family filtered through 100's of MLM's and when he found one he knew would be profitable, he bought it." At that level you're buying the people and the IDEA of the business, not the product. Products can be replaced. IDEAS and PEOPLE cannot. Here, if you can find someone who will work for you/with you, give them a good wage, and offer some business or service, you're good to go. That's 1 route.
I know of some guys who own ice cream trucks. It started out that he drove the route, but that limits your income and competitive advantage. So he expanded, bought a bunch of trucks, and pays over $10 during the summer to drivers who are normally kids out of college on break. That money is normally under the table, and hours are cake and fun. He satisfied ALL 3 parties for very little headache and lives richly.
These are only SOME financial concepts. Personally, I'm never going to be the type to screw 1 of those 3...me, the customer, or my employee. Never. It goes against everything I believe in that is NOT abundance or richness. Not at all. When you take a look at colleges...millions of kids INVEST in themselves as assets, spend thousands of dollars to BUY a job (that's what you do with college). In return a business HIRES the asset to work for their goal. That EMPLOYEE is but 1 cog in the big wheel, only knowing its ONE part very well. That employee will be limited income wise because their HIGHEST value happens to be as a part in that machine, and not MANAGING the machine, directing it, understanding how it works as a total machine. They see the small picture, while the PRES sees the big one, and has to. The sad thing is, aside from a HOME, college education is the BIGGEST investment people make to buy a job, and they rarely use it for their own profit. Why? Even if you have a bachelors, you have a basis sufficient for most colleges to study other topics, too. Or just take random classes, find something you like, and move laterally. Entrenching yourself is good, if you become tops in your chosen field, can write your own ticket, and help progress the knowledge IN THAT field, such as an engineer who does research, makes patents and trademarks, and is then hired for his work. But an engineer who just works a topic that only benefits his employer is LIMITED by what he specifically knows. People in a company are seen assets and its easy to see what eduction is standardized so that businesses have a steady flow of employees that fit readily.
Book suggestions? Search around the forums. There's tons. And find ones suitable to what you are envisioning.
A-unit
