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> we need the poor to start 10000 businesses Most new businesses fail. Then the poor are even deeper in the debt hole. Some people can/should start businesses
by UncleOxidant 19d ago
> we need the poor to start 10000 businesses
Most new businesses fail. Then the poor are even deeper in the debt hole.
Some people can/should start businesses, but a lot of people are just not entrepreneurs - I include myself in that group. I realize that there must be ways to extract money from this economy - lots of people are doing it - but I don't think any of my ideas would end up doing that (they're generally too niche), more likely I'd end up losing a bunch of money trying to do that.
- maerF0x0 18d agoYou're making a lot of assumptions of what I meant. Gen-z seems to get this well, a lot of them are starting micro businesses where with very little capital besides their own labor and computer/phone they already own. Getting a side hustle to $2000 a month can be the difference between trajectory to bankruptcy to trajectory to millionaire. It's in that environment they're learning the skills that take them to the next level, when leverage/debt is something their equipped to dabble in. For your case, if you do want to be an entrepreneur, perhaps read the book $100 startup? Its 14 years old at this point...
- UncleOxidant 18d agoI don't really want to be an entrepreneur. Like I said, I don't think I'm cut out for it.
- maerF0x0 17d agoNot really a fan of Kiyosaki, but one thing he did well was educating people on the cashflow quadrants Employee, Business owner, Self employed, Investor. It sounds like you have opted out of one quadrant, but there are still 3 left for you :)