5 ms·

I've been starting businesses since I was a kid. It is like a hobby, or maybe an obsession. I once started a business without realizing I had done so![1] Once

by nirvana 15y ago

I've been starting businesses since I was a kid. It is like a hobby, or maybe an obsession. I once started a business without realizing I had done so![1] Once I found the pleasure in selling, I just kept doing it. Once I started having a positive income (e.g.: bringing in more money than I needed to live well) I started investing. I've been investing for a couple decades, it also is a hobby. For the past four years I've been a full time nomad-- working on a startup and traveling full time, living out of a backpack. I have built a half dozen successful businesses, and worked for two dozen startups. I've spent a fair bit of time learning about these subjects and would be happy to share my experiences. I too would like to find a site like this. The thing is, when you've become successful to some degree, inevitably, your perspective changes. The perspective of those who've achieved some success is very different from those who want to achieve success but haven't, yet. I don't mean this in an elitist way-- there's nothing I'd like more than to share what I've learned with people who are in the position I was when I was starting out. Unfortunately, Hacker News is not that place. When I've broached such subjects, the responses have not been of the "I'm interested in learning your perspective" variety, more of the "I'm going to tell you that you're wrong because authority X told me so." I'm trying to come up with some examples that won't obviously and immediately offend people. But, for instance, talking about how you can invest yourself (one of the OP's topics) often is met with "you'd be better off buying index funds" responses. It doesn't matter that I've been investing myself and getting outsized returns, and found that it really isn't that hard, and I'd love to share the techniques-- the dominant perspective is that individuals cannot beat the market. Or, if you talk about tax mitigation, the response is often along the lines of "you shouldn't do that, you owe it to society". Or if you attempt to explaining what's going on in economic terms but your perspective disagrees with the popular mainstream one (which is keynesianism, or more accurately, krugmanism) you're met with often derisive responses. You know, if economics is a science, it should be able to predict things...and good economists predicted the housing bubble. Even Ron Paul was caught on video in 2001 predicting it. Anyway, one of the big lessons of business that I've learned, is that economics is important. Perspective is important. Learning about business, and becoming successful really is about changing your perspective. Unfortunately, due to the organization of this site (stories disappear quickly, detailed discussions are a bit difficult) and the culture, it is hard to share a perspective that disagrees with the majority one. I once was told my company was not a real startup, but that it was a "lifestyle business".... this from someone that, near as I could tell, had never started a business. Hell, even if it is a lifestyle business... it gave me a fantastic lifestyle! I don't feel that people here on HN want to learn from those who have had success... and as much success as I have had, I really want to learn from those who have had MORE. HN is the closest I've found, for all the seemingly negative things I'm saying about it.... I wish there were a way to change it so that we could share these things. But if HN is too big of a ship, then I'd be keen to hang out in a private forum. Really, get just a dozen good people there- people who have started businesses and are not ashamed of being capitalists-- and you can have some great discussion. [1] I was importing tools from china, and because I didn't know their quality, and the price was so low, I tended to buy 2 or 4 of everything figuring they might break. The quality was actually good, so I'd sell the extras, but then without realizing it I started buying more and more every order. I found that keeping four drills around was convenient, as I'd just keep different bits in each one and witch tools, but the next time I ordered, I ordered 4 more drills and then sold them, then ordered 8 extra drills and sold them as well. Same thing with bit sets, and other tools. I was making great markups on the tools, but when I realized what I was doing I stopped because it wasn't really scalable.

0x12 15y ago
> Unfortunately, Hacker News is not that place. Why not?
- nirvana 15y ago
  You caught me in mid edit. I'd continued from that point in my post in a frank manner, and while I was not rude, I know that I'm too politically incorrect for this site and have to self censor. So, I rewrote the rest of the post to try and convey what I was saying without using the specific examples I'd used in my original draft (since I know bringing them up would get me down votes and likely start debate on those topics rather than the OP's main point.)
  - nvictor 15y ago
    what about Business of Software? Or StackExchange for businesses? i would love to read your story. if you ever start a blog, link it to HN. thanks.
    - nirvana 15y ago
      If you follow me on twitter, when I start the blog (which is on the todo list, coming soon) you'll find out about it. Details of my project and the twitter id are in my profile here.
Mz 15y ago
there's nothing I'd like more than to share what I've learned with people who are in the position I was when I was starting out. Mz volunteers to be guinea pig and listen to whatever you want to share. ;-) Peace.
- nirvana 15y ago
  If you name the forum, I'll show up. I also realize that I'm older, and when I was younger, I thought those who were older were completely off the mark-- and from the perspective of someone who is now older, I realize they were on the mark in many ways, but outdated in others. So, I don't mean to come off like a pompous ass. I'm also keen to learn from the people who don't have as much experience, but do have a different perspective.... I don't think it should be too difficult, all that's necessary is to make arguments over the differences, or ask questions... rather than try and beat people over the head with politics. Anyway, as for your guinea pig offer, lets see if I can sum up the things I've had to learn the hard way in a very succinct manner, that isn't also highly repetitive of common advice-- - always have something original to sell - investing is made extra easy when your competition thinks they can't win (e.g.: if they think the market is efficient they won't look for opportunities.) - you can earn %25 a year with only 5 hours a year of time invested. - If you're buying any long term investment, know what your return will be with calculable accuracy before you buy. (Timothy Vick's books on investing like Buffett are good here.) - Everyone in the world think their country is special and unique. - Get outside of the USA to see how different the world is from how it is portrayed within the USA - Internationalize your products. It isn't that expensive and you'll get most of your sales abroad - Read "Economics in One Lesson". Economics is really key. Understanding it will give you amazing powers of prediction. - People are the same everywhere, but also different. Every new culture you live in, levels you up. You'll be surprised at what you learn. And going and living somewhere for 2 months is much better than the tourist thing. You can get work done while you do it too. - Never be involved in a franchise unless you're the one selling franchises. - "The Millionaire Fastlane" is a hokey books, and written for seemingly the lowest common denominator, but it contains great wisdom. - Atlas Shrugged is the most important book I've ever read. - All capitalism works by enriching the lives of your customers. The path to wealth is seemingly "altruistic" because it comes form improving other's lives. They're inextricably intertwined. - If 4 out of 5 businesses fail, start 6 businesses. - 1 out of 5 businesses fail in my experience, 2-3 break even, and 1 does rather well. - This one from fight club: "Hitting bottom isn't a weekend retreat. It's not a goddamn seminar. Stop trying to control everything and just let go! LET GO!" - And again: "Only after disaster can we be resurrected." - The above two are very taoist / buddhist concepts. You have to let go of you and see what the market says. "hitting bottom" is getting to the point where you take in the response of the market to your product or your idea as the ultimate reality.... you have to let go of your idea that you have a clue what the market really wants. Only after a product launch disaster can you be resurrected as an entrepreneur. Or at least, it was something like that for me. Stop trying to control everything, because doing so keeps you from hearing what the market is telling you. - Always be Closing. Ok, too many movie quotes, but they resonate with me. - Always have a marketing strategy. Have at least an idea of something that customers will stop and take notice of. Something outrageous could be good- the Virgin method of promotion might work for you. But you gotta be able to wake people up with just a handful of words that immediately resonate with them and make them go "damn, I've been having that problem! Sign me up!" - If you value the education you receive from failure, you can't lose in business. That said, might as well go into it whole hog. When you can't lose, it is impressive how much fear you can eliminate. - Never start a business that costs more than $4,000 to get going (for the essence of the business. ) Never put in real money... it should either make money on its own right away, or if it requires some investment in technology, it shouldn't require any real capital. People are great at shopping and it is easy to rationalize a lot of spending... don't. - Options, if properly used, greatly reduce investment risk, while also boosting returns. Stock options (calls and puts) are the least understood investment vehicle among the mainstream. - I never spent money on a book, including a $90 "Due Diligence" book that I barely ever read, that didn't pay for itself many times over, on topics such as investing, business and marketing. Even the bad ones were worth many times the cover price. I'm sure a lot of that is obvious... maybe I'd be better talking about specific topics or sharing specific experiences.

by nirvana 15y ago

0x12 15y ago

> Unfortunately, Hacker News is not that place. Why not?

nirvana 15y ago
You caught me in mid edit. I'd continued from that point in my post in a frank manner, and while I was not rude, I know that I'm too politically incorrect for this site and have to self censor. So, I rewrote the rest of the post to try and convey what I was saying without using the specific examples I'd used in my original draft (since I know bringing them up would get me down votes and likely start debate on those topics rather than the OP's main point.)
- nvictor 15y ago
  what about Business of Software? Or StackExchange for businesses? i would love to read your story. if you ever start a blog, link it to HN. thanks.
  - nirvana 15y ago
    If you follow me on twitter, when I start the blog (which is on the todo list, coming soon) you'll find out about it. Details of my project and the twitter id are in my profile here.

Mz 15y ago

there's nothing I'd like more than to share what I've learned with people who are in the position I was when I was starting out. Mz volunteers to be guinea pig and listen to whatever you want to share. ;-) Peace.

nirvana 15y ago
If you name the forum, I'll show up. I also realize that I'm older, and when I was younger, I thought those who were older were completely off the mark-- and from the perspective of someone who is now older, I realize they were on the mark in many ways, but outdated in others. So, I don't mean to come off like a pompous ass. I'm also keen to learn from the people who don't have as much experience, but do have a different perspective.... I don't think it should be too difficult, all that's necessary is to make arguments over the differences, or ask questions... rather than try and beat people over the head with politics. Anyway, as for your guinea pig offer, lets see if I can sum up the things I've had to learn the hard way in a very succinct manner, that isn't also highly repetitive of common advice-- - always have something original to sell - investing is made extra easy when your competition thinks they can't win (e.g.: if they think the market is efficient they won't look for opportunities.) - you can earn %25 a year with only 5 hours a year of time invested. - If you're buying any long term investment, know what your return will be with calculable accuracy before you buy. (Timothy Vick's books on investing like Buffett are good here.) - Everyone in the world think their country is special and unique. - Get outside of the USA to see how different the world is from how it is portrayed within the USA - Internationalize your products. It isn't that expensive and you'll get most of your sales abroad - Read "Economics in One Lesson". Economics is really key. Understanding it will give you amazing powers of prediction. - People are the same everywhere, but also different. Every new culture you live in, levels you up. You'll be surprised at what you learn. And going and living somewhere for 2 months is much better than the tourist thing. You can get work done while you do it too. - Never be involved in a franchise unless you're the one selling franchises. - "The Millionaire Fastlane" is a hokey books, and written for seemingly the lowest common denominator, but it contains great wisdom. - Atlas Shrugged is the most important book I've ever read. - All capitalism works by enriching the lives of your customers. The path to wealth is seemingly "altruistic" because it comes form improving other's lives. They're inextricably intertwined. - If 4 out of 5 businesses fail, start 6 businesses. - 1 out of 5 businesses fail in my experience, 2-3 break even, and 1 does rather well. - This one from fight club: "Hitting bottom isn't a weekend retreat. It's not a goddamn seminar. Stop trying to control everything and just let go! LET GO!" - And again: "Only after disaster can we be resurrected." - The above two are very taoist / buddhist concepts. You have to let go of you and see what the market says. "hitting bottom" is getting to the point where you take in the response of the market to your product or your idea as the ultimate reality.... you have to let go of your idea that you have a clue what the market really wants. Only after a product launch disaster can you be resurrected as an entrepreneur. Or at least, it was something like that for me. Stop trying to control everything, because doing so keeps you from hearing what the market is telling you. - Always be Closing. Ok, too many movie quotes, but they resonate with me. - Always have a marketing strategy. Have at least an idea of something that customers will stop and take notice of. Something outrageous could be good- the Virgin method of promotion might work for you. But you gotta be able to wake people up with just a handful of words that immediately resonate with them and make them go "damn, I've been having that problem! Sign me up!" - If you value the education you receive from failure, you can't lose in business. That said, might as well go into it whole hog. When you can't lose, it is impressive how much fear you can eliminate. - Never start a business that costs more than $4,000 to get going (for the essence of the business. ) Never put in real money... it should either make money on its own right away, or if it requires some investment in technology, it shouldn't require any real capital. People are great at shopping and it is easy to rationalize a lot of spending... don't. - Options, if properly used, greatly reduce investment risk, while also boosting returns. Stock options (calls and puts) are the least understood investment vehicle among the mainstream. - I never spent money on a book, including a $90 "Due Diligence" book that I barely ever read, that didn't pay for itself many times over, on topics such as investing, business and marketing. Even the bad ones were worth many times the cover price. I'm sure a lot of that is obvious... maybe I'd be better talking about specific topics or sharing specific experiences.