5 ms·

I think after you get fuck you money, your goal should be to create a lifestyle business. Something that can more or less run on autopilot and generate money fo

by vaksel 16y ago

I think after you get fuck you money, your goal should be to create a lifestyle business. Something that can more or less run on autopilot and generate money for you to live on. If you are a web guy, you can create some software product(or pay someone to build one for you). Then charge $50 a month...and you only need to make 6 sales a day(via adwords) to make $100K/yr. If you are not...you can buy a franchise...i.e. McDonalds franchises make something like 1-2 million a year. And you as an owner don't need to do anything...just hire a good manager...and it'll more or less run on autopilot(from your perspective)

troygoode 16y ago
If you can make something that makes you $100k/yr why wait until you have already made your fuck you money?
- vaksel 16y ago
  because a lot of these niche $100K/yr products...hit the ceiling at 150-200K. So you have no security like you do when you have 5-6 million in the bank. Anything can happen...Google might slap your adwords account, someone might release a competing product etc. And starting a lifestyle business with FU money, means that you can tough it out as it grows from 1 sale every other day, to 1-2-3-4-5-6 sales a day.
  - lsc 16y ago
    If you can build a $100K/year product, why not do that, and then use that money as your runway while you build your five million dollar product? building a company is /much/ easier if you don't have to worry about where rent is coming from three months from now.
    - vaksel 16y ago
      because at that point it's very easy to get complacent...and building up to $100K for a niche business still takes time and money.
      - lsc 16y ago
        personally, I'd rather try to run a starup while fighting complacency than while either trying to wrangle investors or working a dayjob. I think complacency would be a lot less distracting.
SamAtt 16y ago
Just FYI: It's actually very hard to get a McDonalds Franchise these days. McDonalds controls where their restaurants can be built and how far they have to be from other restaurants. Plus McDonalds Corp. makes most of its money of real estate so the company has to be able to acquire land to sell to you. When there is land available in the U.S. there's usually a bidding war between existing franchisees making it hard for an individual to get a foot hold. Plus you have to sign up for a 20 year term or face a steep termination fee (I heard it was in the arena of $100 Million). I'm not sure it goes to your point I just thought it might give perspective on how even easy money isn't all that easy to get.
anamax 16y ago
> And you as an owner don't need to do anything...just hire a good manager...and it'll more or less run on autopilot(from your perspective) Actually, it won't. Good managers are very expensive and they leave to make their own FU money. Okay managers require constant supervision.
ams6110 16y ago
And you as an owner don't need to do anything...just hire a good manager...and it'll more or less run on autopilot(from your perspective) This is probably true for many fast-food franchises but not McDonald's. Franchise owners a called "Owner/Operators" they are expected to work in their restaurants. McDonald's does not sell franchises to "Owner/Investors". As an Owner/Operator you will go through "Hamburger University" in Oak Brook and learn how to make every product the restaurant sells. You will learn how to project sales, schedule employees and order product. You will learn how to manage labor and food cost, and how to manage your management team. You will spend some time working ordinary crew jobs and shift manager jobs at a restaurant. Then, once you get your restaurant, you will have to be an active "chief executive" of the management team. You will have to recruit and hire trustworthy store managers... they are the ones who will be running your restaurant day to day and if they are not good at it you will not make any money or worse they will be stealing from you. It is definitely NOT a passive investment.
lsc 16y ago
>I think after you get fuck you money, your goal should be to create a lifestyle business. Something that can more or less run on autopilot and generate money for you to live on. my god, man, if you are capable of building a business that pays you a good salary without doing much any work, why not do so /before/ you get f-ck you money? I mean, at that point, you'd have a lot of time to pursue whatever startup ideas that might get you f-ck you money.

by vaksel 16y ago

troygoode 16y ago

If you can make something that makes you $100k/yr why wait until you have already made your fuck you money?

vaksel 16y ago
because a lot of these niche $100K/yr products...hit the ceiling at 150-200K. So you have no security like you do when you have 5-6 million in the bank. Anything can happen...Google might slap your adwords account, someone might release a competing product etc. And starting a lifestyle business with FU money, means that you can tough it out as it grows from 1 sale every other day, to 1-2-3-4-5-6 sales a day.
- lsc 16y ago
  If you can build a $100K/year product, why not do that, and then use that money as your runway while you build your five million dollar product? building a company is /much/ easier if you don't have to worry about where rent is coming from three months from now.
  - vaksel 16y ago
    because at that point it's very easy to get complacent...and building up to $100K for a niche business still takes time and money.
    - lsc 16y ago
      personally, I'd rather try to run a starup while fighting complacency than while either trying to wrangle investors or working a dayjob. I think complacency would be a lot less distracting.

SamAtt 16y ago

Just FYI: It's actually very hard to get a McDonalds Franchise these days. McDonalds controls where their restaurants can be built and how far they have to be from other restaurants. Plus McDonalds Corp. makes most of its money of real estate so the company has to be able to acquire land to sell to you. When there is land available in the U.S. there's usually a bidding war between existing franchisees making it hard for an individual to get a foot hold. Plus you have to sign up for a 20 year term or face a steep termination fee (I heard it was in the arena of $100 Million). I'm not sure it goes to your point I just thought it might give perspective on how even easy money isn't all that easy to get.

anamax 16y ago

> And you as an owner don't need to do anything...just hire a good manager...and it'll more or less run on autopilot(from your perspective) Actually, it won't. Good managers are very expensive and they leave to make their own FU money. Okay managers require constant supervision.

ams6110 16y ago

And you as an owner don't need to do anything...just hire a good manager...and it'll more or less run on autopilot(from your perspective) This is probably true for many fast-food franchises but not McDonald's. Franchise owners a called "Owner/Operators" they are expected to work in their restaurants. McDonald's does not sell franchises to "Owner/Investors". As an Owner/Operator you will go through "Hamburger University" in Oak Brook and learn how to make every product the restaurant sells. You will learn how to project sales, schedule employees and order product. You will learn how to manage labor and food cost, and how to manage your management team. You will spend some time working ordinary crew jobs and shift manager jobs at a restaurant. Then, once you get your restaurant, you will have to be an active "chief executive" of the management team. You will have to recruit and hire trustworthy store managers... they are the ones who will be running your restaurant day to day and if they are not good at it you will not make any money or worse they will be stealing from you. It is definitely NOT a passive investment.

lsc 16y ago

>I think after you get fuck you money, your goal should be to create a lifestyle business. Something that can more or less run on autopilot and generate money for you to live on. my god, man, if you are capable of building a business that pays you a good salary without doing much any work, why not do so /before/ you get f-ck you money? I mean, at that point, you'd have a lot of time to pursue whatever startup ideas that might get you f-ck you money.