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Say you are broke, have min wage but know about business. What do you do?

Discussion in 'BlackHat Lounge' started by royserpa, Mar 30, 2016.

  1. royserpa

    royserpa Jr. VIP Jr. VIP Premium Member

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    This is something Ive been thinking the last few days and actually knowing about how to start and grow a business really makes a difference!

    So, i want to know what bhw people think about being in the worst possible situatio where you are broke, have min wage (say 300 usd a month) but already know how to start and grow a business.

    Obviously what i would do is work my ass off, save every penny i can and start a business on what i know what works - that is find a problem, solve it and share the solution to as many people or businesses that you can.

    Wondering what people would do in that situation. :)
     
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  2. soulcollector

    soulcollector Senior Member

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    I think people need the power of negotiating in this instance. You want to start in a field with high demand, but that you can develop a passion about. It needs low setup costs, but you would still need money for the setup and maintenance. I really think that if you can stand out in advertising or marketing you can make an easy ROI of a low investment. You just need the correct setup of a sales network, etc. Maybe this merits a journey or a baby spoon fed thread coming up soon for possible solutions or something for low budget starters.
     
  3. MOTIVE2015

    MOTIVE2015 Registered Member

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    Change your mindset. It all starts in mind. Difference between a millionaire and a broke is the way they see things.
     
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    Last edited: Mar 31, 2016
  4. socialmediapro

    socialmediapro Jr. VIP Jr. VIP UnGagged Attendee

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    I wouldn't even keep working that shitty job. Just set up a site with a service and then sell it.

    It's not that hard if you can sell. It's just a lot of effort. Should easily make more than $300 per month.
     
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  5. loedown

    loedown Jr. VIP Jr. VIP

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    I'd just get my grind on like I always do.

    Money comes and money goes.
     
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  6. vitarank

    vitarank Jr. VIP Jr. VIP

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    If one knows how to start and grow a business he won't settle for a minimum wage.
     
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  7. Boomba

    Boomba Regular Member

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    $300 ain't much. But if you know business / IM, investing some of that into a website could easily bring more money.
     
  8. Ste Fishkin

    Ste Fishkin Jr. VIP Jr. VIP Premium Member

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    1. save 3 months wages
    2. steal comployers price list and client list
    3. undercut them, fuck them.

    but I'm a ruthless cunt... most people have morals.
     
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  9. Reaver

    Reaver Jr. VIP Jr. VIP

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    I'm pretty sure that's not the worst possible scenario.
     
  10. Ste Fishkin

    Ste Fishkin Jr. VIP Jr. VIP Premium Member

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    This is true, he could be chained up in a gimp mask kept in a wicker basket at the end of my bed, next to ralph.
     
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  11. JustUs

    JustUs Power Member

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    1:
    buy:
    a- lawn mower
    b- string trimmer
    c- edging attachment for string trimmer
    d- small trailer
    e- assorted pesticides and fertilizers

    use:
    a- cell phone to contact business'
    b- truck and trailer
    c- computer

    do:
    a- get pesticide license
    b- cut grass
    c- upsell fertilizing and pesticide spraying
    d- use computer to SEO web sales page

    work:
    six to 15 hours per week.

    Earn:
    enough to get by and drive to Denver (500 miles one way) weekly to buy hash (cannabis) oil.
     
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  12. whiteblackseo

    whiteblackseo Jr. VIP Jr. VIP

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    Its that easy to get a fucking job, eh?
     
  13. JustUs

    JustUs Power Member

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    It is that easy, yes. But you have to be prepared to hear 'no' a lot. For every 'yes' for a business contract, you will hear 1000 'noes.'

    I have a few college degrees. College only prepares you to work for others, it does not prepare you to work for yourself. Your drive, determination, motivation, and persistence are what determines if are successful in making money.

    If you are seeking employment with another, then you have to meet that employers standards. You will also limit your income to whatever that field pays. If you work for yourself, then you are the only limit.
     
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  14. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    You mean income from that single source? A person that works for someone else can still make way from other sources than a totally self employed person.
     
  15. JustUs

    JustUs Power Member

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    You are incorrect in your assumption. In addition to a lawn/pesticide business, I operate a software business (writing software and penetration testing in addition to some SEO for realtors.), and a handyman business. I also receive a disability income.

    As written, you are your own limit. Open your eyes and look around. If you have a shovel, then dig holes; if you have a mower, then cut grass; if you have a car, then deliver pizza. A person that is self employed is not limited to a single, or two, or three lines of business. But just like finding a job, you must be prepared to hear "No" far more often than you hear "Yes."

    Making money is not hard. Making money consistently, is a little more difficult. College does not prepare you to work for yourself.
     
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  16. ORM

    ORM Power Member

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    Technically we all work for someone else, whether you're a business owner or an employee. Owning a business does not mean that money come out of nowhere - you still have to provide value to someone in order to get paid.

    Being a regular employee guarantees a stable income and some other benefits but you're exchanging your time for money so your earning potential is limited. Business owners do not have those time constraint nor they are told by someone how much they will earn, but there are risks and responsibilites etc. involved. See there are advantages and disadvantages on both sides. I have no idea why you always get defensive about someone comparing employees and business owners.
     
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    Last edited: Mar 31, 2016
  17. royserpa

    royserpa Jr. VIP Jr. VIP Premium Member

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    Then what's the worst possible scenario?
     
  18. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    It depends on the type of business, some companies provide little or nothing of value but make the person desire a product that they don't actually need, not everyone is working for the customers.

    I am also defenive about employee and business owners, I am just not falling the the bs logic that is on BHW alot lately. Its a given fact that more powerful hardware and software along with better networking ability increases the money that can be made with IM, yet when it comes to having a 9-5 people act as if its limited even though it will guarantee better resources at the start compared to someone just doing IM 100%. Better resources at the start is alot better than spending 80 hours a week, there is only so much that can be done on lower end computers.
     
  19. Godziwa

    Godziwa Regular Member

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    If you're broke, you need to forget about a business for now and save up.

    You need to get your priorities straight so you can move forward.
     
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  20. SavyCon

    SavyCon Regular Member

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    So, minimum wage here is anywhere from $10-12.25/hour.

    10 per hour.png 1225.png

    Let's say you're full-time at the wonderful golden arches or Wal-Mart (full-time, HA!). At 40 hours a week, that's $1600-1960 before taxes per month.

    Take home, say $1200-1500/per month.

    What are your EXPENSES:

    Rent = ~$600 (Share a room in a house) -> $1200 (maybe find a studio), maybe you have Section 8 (subsidized housing)
    Food = ~$300 ($10/day, cook your own meals, etc). -> Balling on a budget (or credit cards).
    Cellphone = $60
    Car Payment? NONE. Buy a cheap car ($1000 saved up)
    Car Insurance? $40/month
    Internet/Cable/garbage/electricity/Gas? $100/month
    Health - Cobra or Obamacare.
    Incidentals - Don't get sick, rip any clothes, etc.

    Let's say total expenses are $1,100/month. Don't get sick, lose or gain weight, or take any vacations. Throw away your cigarettes, and don't drink alcohol.

    This leaves you $100-400 extra a month.

    Step 1:

    Decrease expenses. From the above example, you really can't decrease it much from where you're at.

    Step 2:
    Increase income. Buy a computer or go to a local library. Learn a new skill. Get a better job.

    Step 3:
    Now that you have the increased income, and already decreased your expenses - you are still learning new skills (internet marketing, running a business, etc). You can move on to Step 3 -> Starting your business.

    What I can't do is help you figure out what your business does (many other people smarter than me have written about it), but do something that you're passionate about and can wake up every morning and do with a smile on your face. Yes, you lazy ass - it's hardwork running a business.

    I can't also tell you how to start your business, as different regions and localities have different laws. Just look into those online.

    From here, I'm going to piggy back on JustUs's quote:


    Start your (lawn care) company. Learn about SEO and local rankings, get into Yelp/Google Places, etc. Create a FB page.

    Step 5:
    So now you're putting in weekend work and working 7 days a week.

    Once your business can surpass your 'job' income, switch over and grow your business full time.

    Continue saving money, and working on your business - growing your business, and potentially starting other supplemental businesses.

    .......

    Step 8:

    Relax, and enjoy the fruits on your labor. Travel the world. Devote your time to a worthy cause or ideal.
     
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