Thank you so much for the responses to yesterday’s report on how I walked away from a potentially sound investment.
Here’s the salient point.
This man wanted a substantial investment that the figures said would work.
But he wanted to run it, have the majority shareholding and earn the most profits, of course.
That’s all fair enough.
But he also wanted us investors to guarantee him a doubling of his base salary, right from day one.
And that’s why we walked away.
He clearly didn’t understand running a business of his own.
He wanted none of the potential downside.
And all of the potential upside.
If you start a business, you aren’t “entitled” to any salary - that’s what jobs are for, after all!
His current employer, a big established business, who’d employed him for many years paid him a salary - a good salary.
He wanted double that in a start-up, guaranteed.
That’s not the desire of someone who is fit to be self-employed.
Yes, wanting to make money is a good reason to start your own business.
But it’s rare that I would recommend you throw in your current job first.
- Start small
- Test again
Running a business, of any size, is not like having a job.
There’s a lot more responsibility, for a start.
But the freedom you get is worth it.
Just take your time.
Make your initial goal “An Extra $1,000 A Month” as I always suggest.
And build from there.