You already did a couple of businesses that managed to become profitable and already know the process and how to do it. Why not start again a business in an area you know very well?
this post was submitted on 17 Nov 2023
1 points (100.0% liked)
Entrepreneur
0 readers
1 users here now
Rules
- No Personal Attacks - criticism of ideas is allowed, attacking people is not.
- Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
- No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
- Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.
Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.
founded 1 year ago
MODERATORS
Have you read the book “Untethered Soul”? Would highly recommend.
The key thought for me was that I make my hiring decisions based on what the person brings to the company compared to what they cost. If they are an expense and create no margin within the business for streamlining a pain point or generating extra revenue, I don’t hire them. When the person brings something to the business, then I have a number. If they cost 80% of what they generate, I take them. If they fail to generate or execute, I fire them and find the person that will.
So to say, my employees are dollars on discount. Why? Because they generate $1 and cost $0.80.
I know there’s plenty of people who follow this methodology and, if you’re corporate, odds are you’re getting a discount on your value and it’s probably even more aggressive than that. So, you know people are willing to pay you as much as you’re getting on discount. So what are you worth when you give it 110% for yourself instead? Only question then becomes “how do I get the clients who will pay what I’m worth?” The answer to that is sales and marketing (which you can hire out if you’re bad).
You’ll likely lose a bit on HHI for a little while, but I think you owe it to yourself to at least give it an honest shot.
Use your insights from all the years of working in the vertical to build a business around.
Never put all your eggs in one basket agent 50, build something that you're passionate about for a change?
We should be asking advice from you wtf my man
What kind of corporate job do you do?