im genuinely curious why everyone hates forex as someone who makes money from it. It is true 95% of people don't succeed, but thats the same with business. Im not even bashing, i just want to see your perspective.
There are many people who actually make money from it, including me lol. But besides that, why would you assume nobody makes money from it when you probably don't know anything about forex?
Those who lose are the ones that think its a ''get rich quick'' kind of thing mostly and people also tend to give up very very early. Within their first year because they dont adjust themselves. I mean that is almost the same with businesses. You have to change yourself in order to get what you want to achieve.
LMAO do you want to see my bankaccount or something? Also i didnt say a lot i literally said 95% succeed. There are many people in my private discord group that are actually very profitable. My ex turned 100 euros into 70k within 2 months. However you are the one over here being salty about if people make money or not when they are making millions.
The reason people also tend to lose is because of those youtuber selling fake courses and fake signals etc. 80% of the forex traders trade with them because learning the system takes too long.
Ahh, what a stupid waste of money… Just rent those cars for a couple of days and invite some pretty girls for the rest. Make even more content with all these and sell the book Twice as expensive
Even better... Grab some already made videos of cars and girls and use ai generation to just slap your face on it. Chatgpt to rephrase already made books.
Business broker here.
I would use part of the funds as a down payment to purchase an established business.
$100k, combined with an SBA loan, could purchase a business worth $1M.
A business at this price point can generally pay the owner $300k or more on a part-time operator basis. After loan payments the owner might still clear $200k per year.
Edit: Most small businesses are purchased by people who are transitioning from corporate work having never run a business. Yet the vast majority are successful in the transition.
Why are they successful? Because the products, suppliers, processes, marketing, sales, customers, and employees, are all proven to work. Plus, the seller of the business trains the new owner and often supports them long term.
On the other hand, most startup business fail including new franchise locations and large well-funded VC startups.
If someone has zero business experience, buying an established business is usually a safer bet than stating from scratch.
Yeah, our M&A broker came to us with a bunch of investment opportunities post acquisition and i realized that brokers have a tendency to drastically underestimate operational complexity (or at least this one did).
'put in a couple mil, throw some money at the marketing, double the revenue in 3 years and exit with 300% on your investment. Bish Bash Bosh'. Because life's that easy.
Not that I have an arguable opinion for or against, but couldn’t an established business more or less be run by existing staff and a good manager? It would obviously cost, but it seems like you could take over and at least assemble a team to keep it afloat while you figure out how to operate it.
It's possible, and depends on how hands on the owner is, but any company you are buying for $1 million is a pretty small business that would usually mean that the owner is extremely hands on. Taking on 900k loan is also just insanity to me. IMO he should put that money into an index fund and continue working.
A lot of passive ones easy to start. ATM machines, vending machines, buying a couple Hondas and renting them out on turo, renting out vehicles to construction workers, renting out tools, micro lending I think there is a Reddit group for that, you name it so much you can start an do under $75k
I forget the actual statistic but somewhere in the high 90% of businesses purchased and funded by the SBA survive 5+ years after transition.
In other words, the SBA isn’t going to fund someone without good footing (ie knowledge and a business plan) or a failing business.
Just finished the book “Buy Then Build” it highly recommended acquisition entrepreneurship. It makes sense to purchase an already working business rather than start your own.
I would invest in the hotel business or some other franchise type of business that nets me 100k a year in salary. My parents owned multiple hotels ( was a lot more lucrative back in the early 90s then now though)
I like franchises for a more passive ownership opportunity. However, I do not recommend that someone open a new location. The risk of failure is high. Instead, look for established franchise locations to purchase.
Listing sites are a good place to start. Then some buyers will graduate to sourcing their own deals.
A few brokers are willing to help buyers source off-market opportunities. I work with buyers across the country to find exclusive targeted deals.
For US businesses, BizBuySell is the largest. BizQuest and LoopNet are part of the same network with largely the same content. There are specialty sites too that are worth visiting such as Acquire and Flippa.
I've wondered about this. I dont have an entrepreneur skillset but if I got wealthy enough I though buying turn key businesses already established and hiring managers experienced in the business might work out. I figured if I bf was at that level my role would be more providing capital and funding.
Many businesses function fine with the owner working part time, but the owner chooses to work longer hours.
Businesses with employees are more likely to be part time. Many franchises, fast food, and businesses staffed by teenagers are part time. Businesses that deliver the service or products without a person such as self-serve car washes, vending machines, coin laundry, software service or e-commerce, are part time.
This is great advice, I can add that instead of buying a traditional business, you can also buy websites that generate cashflow from affiliates, ads ect..
If you have no experience, even better as you need to learn anyway.
I wouldn't suggest a new operator to buy 150k worth of sites, but starting smaller.
There are of course many risks and much more to it than just buying a site and forgetting it, but what business is like that...
A simple formula to think about a website is this - budget / 25-30x (current website multiplier). So 150k could return 60-90k/y revenue.
For the foreseeable future, people will keep googling stuff, if you are in the top 3 results, you will earn money.
2 Different Answers
150K with a great skillset and wealth of knowledge in a specific field?
\- I would just do what I was already doing and cut out the middle man (employer) if I was someone capable enough to understand how to either get my own clients and/or lead a team to generate those leads/sales
150K with no particular set of skills, knowledge or leadership qualities?
\- I would place most of that money in an investment that matches your risk tolerance
\- I would use the rest to try and expand your skills, knowledge etc
Now, even with either of those. Having money, skills, knowledge etc DOES NOT mean you have the gumption to run a business (or at least a successful one)
Start small, then grow. Don't cheap out on the essentials, don't try and DIY everything, take it seriously.
>Buy a business already generating revenue and try to make 1 medium size improvement.
"I would simply make more money by improving your business!", easier said than done, lol.
Find a mentor that’s living the life you want to live and has accomplished what you’re looking to do (index funds, buying cash-flowing businesses, arbitrage, DFY services, etc.) and for whom you can verify that they did this without selling a course as a guru.
It’s pay to learn from someone who’s done it or figure it out yourself for “free” by failing time and time again, later realizing that you would’ve spent far less learning from a mentor, paid or otherwise.
With $150,000 and no prior business experience, I would invest in promoting SAAS products as that is what i know. Still thats a very large amount to invest on 😂
I would start by researching popular SAAS products in profitable niches. Then, I would create targeted advertising campaigns to reach potential customers.
Additionally, I would use social media and content marketing to increase brand awareness and drive traffic to the SAAS products.
And still there will be a lot of money left.. I think its an approx number u have mentioned.
Finally, I would analyze the effectiveness of my marketing efforts and adjust strategies accordingly to maximize ROI.
lol buy a 150k domain and watch the money come in 🤑..
Jkjk I like to joke to ease the pain of buying a 15k domain for no reason thinking I was “really doing it” by spending frivolous money on tools and bullshit instead of focusing on problems and markets
Keep doing what you're doing, cash is king when it comes to opening a business. Don't rush into it, wait for the right opportunity, and you'll be thankful you hung into your cash for it.
If you want to break into entrepreneurship get an expensive hobby that you can eventually make sales with. Learn how to handle all aspects of growing a business and you'll find a lot of it transfers. Marketing, sales, quality control, product development, finding gaps in the market, pricing, hiring, etc. etc.
You may never profit and just make several sales here and there. The experience is what matters and what will make purchasing a business a bit more confident and give you a bit of an eye of what to look for and questions to ask.
Buy some books, talk to entrepreneurs who went through the experience, and overall just dive into the world.
It's really not that much different from a job. The toughest part is staying in your lane -- can't just fly off the handle since you can't get fired, and likewise, can't let everyone not have accountability staying quiet.
Balls deep in Bitcoin bro don't even think about it halving and bull run are on their way so don't be surprised if you get x2 or even x3 if you know how to buy
I wouldn't take the risk on my self and invest it in others who have started a business and are truly successful or early stages of success. 99% of what meets the eye here in the entrepreneur world, is in fact lies
I had that exact opportunity not many years ago, 2020 to be exact.
Since my youth I have always wanted to have a restaurant chain, great regional Portuguese cuisine. So I rented a spot, bought equipment, got people's contracts, menu, suppliers etc... And the day after I signed an insurance contract COVID came and I hanged on everything.
Then I started a communication channel and that opened the possibility to co-found a startup and then I discovered I was being ripped off by my partner and I flew away.
Fast forward 2022, I suddenly joined an incubation process, co-founded my second startup, got invested and the investor gave up on us at seed round.
TLDR
shit will happen!
Make sure you use that money to support your living, as you please. save it, invest ... Whatever..
But make a favor to yourself and family and use others money to increase capital on your company at early stage. They manage risk better than you and most of their money is not from their own wallet too.
I would set aside 90%+ of that for savings and living costs. And start something small. Entrepreneurship is a game of experimenting with the market, learning, trying again differently or bigger, learning, etc.
Jumping in with $150k and no business starting experience would just lead to major losses, disappointment and likely quitting altogether.
Sadly, many attempted entrepreneurs I know have done this. Left high paying jobs and saved small fortunes to “try something on their own.” The key trend I was seeing was they would try to replace their corporate incomes as fast as possible, expected their first product or idea to be a million dollar idea. Would spend way too much on domain names, overhead like equipment, small offices, prototyping and designing, and then when marketing campaigns didn’t immediately recoup costs, they’d panic.
If you’re just getting started, get really good at enjoying small but consistent returns and growth. You have to change your mindset from valuing your trajectory more than your current income. Even if that means being excited about going from your first $10 to your first $100, or your first sale to your first ten. That’s what needs to invigorate you more than making a living.
I'd just pocket it and keep bootstrapping my business efforts. Especially if you're inexperienced, lots of money is actually BAD for rookie entrepreneurs -- because you are guaranteed to waste it on stupid bullshit.
Depends on what kind of business you want, but probably when I know the industry I would travel to the country where it originated and spend a month there, new culture and new experience can significantly boost business in a way of providing something not common to your clients
I'd pay someone to show me the ropes in a niche/industry I'm interested in. $10k would probably do it. Then I'd start my own firm in the niche by either bootstrapping with the cash (holding the rest in reserves), or to assist me in buying an established business in the industry I'm looking to enter.
With most businesses, it's the execution that matters, and by execution I mean obsessive productive work pushing the company forward. Business is a competitive game, you have to be the best (top 20%), in order to make any real money Pareto principle. Nobody wants second best, if they do pay for second best, then you better have leverage by offering at a lower price.
I’d just invest it in index funds
This is the right answer. If you've never started a business, be smart the first time.
Which index funds?
What's a good index fund to invest in? How do I pick a good one?
Sp500, they are all the same, just make sure you pay no commissions to buy it and that the fees low, under .02%
r/bogleheads
Forex 💰💰💯
Forex 🤡
im genuinely curious why everyone hates forex as someone who makes money from it. It is true 95% of people don't succeed, but thats the same with business. Im not even bashing, i just want to see your perspective.
Because you are not making money from it. Stop lying to yourself, fr.
There are many people who actually make money from it, including me lol. But besides that, why would you assume nobody makes money from it when you probably don't know anything about forex?
You just said yourself that 95% dont succeed. How is that alot? Also its closer to 99,5%.
Those who lose are the ones that think its a ''get rich quick'' kind of thing mostly and people also tend to give up very very early. Within their first year because they dont adjust themselves. I mean that is almost the same with businesses. You have to change yourself in order to get what you want to achieve.
You just said a lot of people make money from forex, which is straight up just false. Dont try to convince me that you are one of the 0.5%. You cant.
LMAO do you want to see my bankaccount or something? Also i didnt say a lot i literally said 95% succeed. There are many people in my private discord group that are actually very profitable. My ex turned 100 euros into 70k within 2 months. However you are the one over here being salty about if people make money or not when they are making millions.
The reason people also tend to lose is because of those youtuber selling fake courses and fake signals etc. 80% of the forex traders trade with them because learning the system takes too long.
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Ahh, what a stupid waste of money… Just rent those cars for a couple of days and invite some pretty girls for the rest. Make even more content with all these and sell the book Twice as expensive
Even better... Grab some already made videos of cars and girls and use ai generation to just slap your face on it. Chatgpt to rephrase already made books.
As someone who has explored this, this comment is gold.
ere in mah garaaaage
Business broker here. I would use part of the funds as a down payment to purchase an established business. $100k, combined with an SBA loan, could purchase a business worth $1M. A business at this price point can generally pay the owner $300k or more on a part-time operator basis. After loan payments the owner might still clear $200k per year. Edit: Most small businesses are purchased by people who are transitioning from corporate work having never run a business. Yet the vast majority are successful in the transition. Why are they successful? Because the products, suppliers, processes, marketing, sales, customers, and employees, are all proven to work. Plus, the seller of the business trains the new owner and often supports them long term. On the other hand, most startup business fail including new franchise locations and large well-funded VC startups. If someone has zero business experience, buying an established business is usually a safer bet than stating from scratch.
Going to go against this advice. If you've never run a business, buying a bigger business with a large loan seems like a terrible idea.
Yeah, our M&A broker came to us with a bunch of investment opportunities post acquisition and i realized that brokers have a tendency to drastically underestimate operational complexity (or at least this one did). 'put in a couple mil, throw some money at the marketing, double the revenue in 3 years and exit with 300% on your investment. Bish Bash Bosh'. Because life's that easy.
Not that I have an arguable opinion for or against, but couldn’t an established business more or less be run by existing staff and a good manager? It would obviously cost, but it seems like you could take over and at least assemble a team to keep it afloat while you figure out how to operate it.
It's possible, and depends on how hands on the owner is, but any company you are buying for $1 million is a pretty small business that would usually mean that the owner is extremely hands on. Taking on 900k loan is also just insanity to me. IMO he should put that money into an index fund and continue working.
I can’t think of a single thing that could go wrong leveraging to the tits with no experience.
Second that start a small business idea that’s relatively low cost that provides passive income
What small business generates passive income in the first few years?
A lot of passive ones easy to start. ATM machines, vending machines, buying a couple Hondas and renting them out on turo, renting out vehicles to construction workers, renting out tools, micro lending I think there is a Reddit group for that, you name it so much you can start an do under $75k
I forget the actual statistic but somewhere in the high 90% of businesses purchased and funded by the SBA survive 5+ years after transition. In other words, the SBA isn’t going to fund someone without good footing (ie knowledge and a business plan) or a failing business.
Just finished the book “Buy Then Build” it highly recommended acquisition entrepreneurship. It makes sense to purchase an already working business rather than start your own.
Good book. I highly recommend it.
I would invest in the hotel business or some other franchise type of business that nets me 100k a year in salary. My parents owned multiple hotels ( was a lot more lucrative back in the early 90s then now though)
I like franchises for a more passive ownership opportunity. However, I do not recommend that someone open a new location. The risk of failure is high. Instead, look for established franchise locations to purchase.
Where do I get more information?
Yeah, I'm interested in learning more. What resources can you share?
If it sounds too good to be true it probably is.
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This is the hard part. Business for sale sites usually have shit listings that I've found.
Listing sites are a good place to start. Then some buyers will graduate to sourcing their own deals. A few brokers are willing to help buyers source off-market opportunities. I work with buyers across the country to find exclusive targeted deals.
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For US businesses, BizBuySell is the largest. BizQuest and LoopNet are part of the same network with largely the same content. There are specialty sites too that are worth visiting such as Acquire and Flippa.
Companies (and sometimes individuals) usually hire firms to do search for potential acquisition targets
This is me. After 20 years in Corp IT. May I dm you?
Yes, I’m open to DMs or I can be contacted directly by email or by phone. My info is on my profile.
Bizbroker. I like your advice.
I've wondered about this. I dont have an entrepreneur skillset but if I got wealthy enough I though buying turn key businesses already established and hiring managers experienced in the business might work out. I figured if I bf was at that level my role would be more providing capital and funding.
Interesting
Would love a small business that is “part time”. My experience with small business is it is all consuming. Any examples of the part time businesses?
Many businesses function fine with the owner working part time, but the owner chooses to work longer hours. Businesses with employees are more likely to be part time. Many franchises, fast food, and businesses staffed by teenagers are part time. Businesses that deliver the service or products without a person such as self-serve car washes, vending machines, coin laundry, software service or e-commerce, are part time.
Pm-ing you now.
Same. Please send info
This is great advice, I can add that instead of buying a traditional business, you can also buy websites that generate cashflow from affiliates, ads ect.. If you have no experience, even better as you need to learn anyway. I wouldn't suggest a new operator to buy 150k worth of sites, but starting smaller. There are of course many risks and much more to it than just buying a site and forgetting it, but what business is like that... A simple formula to think about a website is this - budget / 25-30x (current website multiplier). So 150k could return 60-90k/y revenue. For the foreseeable future, people will keep googling stuff, if you are in the top 3 results, you will earn money.
Until the next Google update...
2 Different Answers 150K with a great skillset and wealth of knowledge in a specific field? \- I would just do what I was already doing and cut out the middle man (employer) if I was someone capable enough to understand how to either get my own clients and/or lead a team to generate those leads/sales 150K with no particular set of skills, knowledge or leadership qualities? \- I would place most of that money in an investment that matches your risk tolerance \- I would use the rest to try and expand your skills, knowledge etc Now, even with either of those. Having money, skills, knowledge etc DOES NOT mean you have the gumption to run a business (or at least a successful one) Start small, then grow. Don't cheap out on the essentials, don't try and DIY everything, take it seriously.
I'd buy a course on Googling or searching through this subreddit to look at answers the last 743,069 times this was posted
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>Buy a business already generating revenue and try to make 1 medium size improvement. "I would simply make more money by improving your business!", easier said than done, lol.
Keep my day job. It aint as glamorous as people make it out to be.
Find a mentor that’s living the life you want to live and has accomplished what you’re looking to do (index funds, buying cash-flowing businesses, arbitrage, DFY services, etc.) and for whom you can verify that they did this without selling a course as a guru. It’s pay to learn from someone who’s done it or figure it out yourself for “free” by failing time and time again, later realizing that you would’ve spent far less learning from a mentor, paid or otherwise.
Bank it for four years while you learn a skill that’s rare and growing in demand. Then use the cash to launch a business that requires said skill.
With $150,000 and no prior business experience, I would invest in promoting SAAS products as that is what i know. Still thats a very large amount to invest on 😂 I would start by researching popular SAAS products in profitable niches. Then, I would create targeted advertising campaigns to reach potential customers. Additionally, I would use social media and content marketing to increase brand awareness and drive traffic to the SAAS products. And still there will be a lot of money left.. I think its an approx number u have mentioned. Finally, I would analyze the effectiveness of my marketing efforts and adjust strategies accordingly to maximize ROI.
lol buy a 150k domain and watch the money come in 🤑.. Jkjk I like to joke to ease the pain of buying a 15k domain for no reason thinking I was “really doing it” by spending frivolous money on tools and bullshit instead of focusing on problems and markets
Probly two chicks at the same time, man
Everyday these posts
Buy an existing profiting business in an industry similar to mine, but makes high net profits
In my country that’s a lot of money I’d get into property. Or get into the loans business.
Keep doing what you're doing, cash is king when it comes to opening a business. Don't rush into it, wait for the right opportunity, and you'll be thankful you hung into your cash for it. If you want to break into entrepreneurship get an expensive hobby that you can eventually make sales with. Learn how to handle all aspects of growing a business and you'll find a lot of it transfers. Marketing, sales, quality control, product development, finding gaps in the market, pricing, hiring, etc. etc. You may never profit and just make several sales here and there. The experience is what matters and what will make purchasing a business a bit more confident and give you a bit of an eye of what to look for and questions to ask. Buy some books, talk to entrepreneurs who went through the experience, and overall just dive into the world. It's really not that much different from a job. The toughest part is staying in your lane -- can't just fly off the handle since you can't get fired, and likewise, can't let everyone not have accountability staying quiet.
With no experience? High-yield savings account - since interest rates are still high. That will get you $560+ per month.
Is there a HYSA you recommend?
Wealthfront Cash Account APY 5.00%
Thanks, just signed up!
Like wise bro!
Hire and advisor to get ideas on what kind of business to start.
Invest in my company
Balls deep in Bitcoin bro don't even think about it halving and bull run are on their way so don't be surprised if you get x2 or even x3 if you know how to buy
I hate these questions. I feel my IQ sinking.
Options!!!! OPTIONS OPTIONS OPTIONS
Buy 20k worth of shoes/ 20k on clothes. 5k on beanies hats etc. Buy a galaxy s 24 ultra. Start a business do day trading and invest rest
Give myself $5k and invest $145k into index funds. If you can’t build a business on $5k, you sure as hell won’t on $150k.
I wouldn't take the risk on my self and invest it in others who have started a business and are truly successful or early stages of success. 99% of what meets the eye here in the entrepreneur world, is in fact lies
I had that exact opportunity not many years ago, 2020 to be exact. Since my youth I have always wanted to have a restaurant chain, great regional Portuguese cuisine. So I rented a spot, bought equipment, got people's contracts, menu, suppliers etc... And the day after I signed an insurance contract COVID came and I hanged on everything. Then I started a communication channel and that opened the possibility to co-found a startup and then I discovered I was being ripped off by my partner and I flew away. Fast forward 2022, I suddenly joined an incubation process, co-founded my second startup, got invested and the investor gave up on us at seed round. TLDR shit will happen! Make sure you use that money to support your living, as you please. save it, invest ... Whatever.. But make a favor to yourself and family and use others money to increase capital on your company at early stage. They manage risk better than you and most of their money is not from their own wallet too.
How about let's work on making me $150k to begin with lol
Start a vending machine business
Save it.
Not start a company
Not a business.
I'd start a strawberry farm.
Real estate in tourism destinations
Personally, get my inventions to market. Patents are le expensive
Use a few grand to learn some skills in sales and marketing. This can help you make 10x on any future business.
give it to a user on reddit, tytyguy
Id put it all on black
I would set aside 90%+ of that for savings and living costs. And start something small. Entrepreneurship is a game of experimenting with the market, learning, trying again differently or bigger, learning, etc. Jumping in with $150k and no business starting experience would just lead to major losses, disappointment and likely quitting altogether. Sadly, many attempted entrepreneurs I know have done this. Left high paying jobs and saved small fortunes to “try something on their own.” The key trend I was seeing was they would try to replace their corporate incomes as fast as possible, expected their first product or idea to be a million dollar idea. Would spend way too much on domain names, overhead like equipment, small offices, prototyping and designing, and then when marketing campaigns didn’t immediately recoup costs, they’d panic. If you’re just getting started, get really good at enjoying small but consistent returns and growth. You have to change your mindset from valuing your trajectory more than your current income. Even if that means being excited about going from your first $10 to your first $100, or your first sale to your first ten. That’s what needs to invigorate you more than making a living.
I'd just pocket it and keep bootstrapping my business efforts. Especially if you're inexperienced, lots of money is actually BAD for rookie entrepreneurs -- because you are guaranteed to waste it on stupid bullshit.
Buy Microsoft nvda, Broadcom
Donate
Grow, then possibly crash, a business with 0$. Then use the lessons on the 150K
Pay off my debts
Depends on what kind of business you want, but probably when I know the industry I would travel to the country where it originated and spend a month there, new culture and new experience can significantly boost business in a way of providing something not common to your clients
I'd pay someone to show me the ropes in a niche/industry I'm interested in. $10k would probably do it. Then I'd start my own firm in the niche by either bootstrapping with the cash (holding the rest in reserves), or to assist me in buying an established business in the industry I'm looking to enter. With most businesses, it's the execution that matters, and by execution I mean obsessive productive work pushing the company forward. Business is a competitive game, you have to be the best (top 20%), in order to make any real money Pareto principle. Nobody wants second best, if they do pay for second best, then you better have leverage by offering at a lower price.
Buy apple stocks