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my business ramblings

Discussion in 'BlackHat Lounge' started by investor909, Oct 21, 2013.

  1. investor909

    investor909 Newbie

    Joined:
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    Occupation:
    stock trader
    Location:
    uk
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    For what it's worth here is what i have learned in 20+ years of business.

    1) Have long term goal/plan. Retire with $5million? How best to achieve it?

    2) best to focus on one business and build a brand but to get there you might need to diversify/ hussel a bit first.

    3) Focus on high paying clients only. You can't get rich trying to sell diamond rings to the unemployed. best to have 10 clients at $2,000 profits per month than 200 at $100 profits. Believe me in any business 20% of your clients are a pain in the ass. Do you want to deal with 2 or 40?

    4) if it isn't working -change it. i wasted years trying to make money where people would not spend. i should have bailed long before I did.

    5) The industry alone is the determining factor as to whether you make big money or not. Big business, big finance, wealthy people etc... you can be the best street cleaner in the world, but you will never gt rich.

    6) Focus more on people skills, soft skills, sales, influencing, speaking, presentation as opposed to technical skills. it truelly is a great skill. The technicals can be outsourced.

    Stop for a while and think how are you progressing towards your goals? if you aren't change something today.

    good luck