Re: Anyone making money with playable pins?

Sounds like you made the guy's point.

I'm guessing most here could retire on 120 million.

The only way to accumulate real wealth in this country is through the
entreprenuerial route. The tax code favors it and books like "The
Millionaire Next Door" confirm it.

Easy?--not in most cases. Very hard and risky in most cases.

On the other hand, if you are holding out your hand for W-2 based
employment/compensation, there is very little that can be done to accrue
unrealized wealth(that is the stuff you don't have to pay taxes on). There
is also very little one can do to significantly increase realized income and
it is all taxed so much if it is taken away before it ever has a chance to
accumulate.

I don't anticipate the guy is going to make a fortune running pins. Now if
he wants to get creative and learn how to design video games, or get
creative and design online entertainment, he has a chance. Easy? Nope. Will
he most likely lose his start up capital and be out of business in 5
years--yep--just like the other 90% who try at the same time.

On the other hand, if he can get something going and in 6 years have dozens
or hundreds of people working for him, then he is well on his way.

Otto

CARGPB11

My web page: http://home.bellsouth.net/p/PWP-Ottoslanding

"Lloyd Olson" <ltg@xxxxxxxxxxxxxxx> wrote in message
news:ANCdnTU8t850M7jZnZ2dnUVZ8qWdnZ2d@xxxxxxxxxxxxxxx
I laughed, I asked him if he had any idea what owning your own
business actually involved. I told him about two men I knew who made the
NYSE with their business in the late 1960's, were worth about 120 million,
and were working 20 hours a day.

Dreams and reality are often two way different things. LTG :)

"Kyle Wren" <kylewrenTAKE@xxxxxxxxxxxxxxx> wrote in message
news:e0493g01ol2@xxxxxxxxxxxxxxxxxx
In article <fZmdnQzyyKbyC7nZRVnysw@xxxxxxxxxxxx>, Lloyd Olson says...

While I work for a large company, most of my family are small business
people
like Lloyd here. This is one of the best pieces of advice I have ever
seen
someone offer, it should be "required reading" for anyone starting out on
their
own.

My Dad always laughs when someone comes into his shop and says "I think I
want
to be my own boss like you are so I can take off whenever I want to...".
Lloyd
and everyone else slugging it out against everything you see listed below
can
tell you why that is so funny, there ARE no vacations anymore when you
own
your
own business...

Do your homework so you have the best chance at being successfull if you
do
this.

You don't just open a place or place games on location.

First thing is go to the license division in city hall in the city you
want
to do this in. To put games on location find out if you need a license,
the
location does, and the games do. Don't forget insurance - you'll need
this.
Someone gets hurt by your game and you will be forever screwed.

To open a place, way more to consider. If the city will allow it, if a
landlord will lease to you, similar problems if you buy a building. And
for
any new business you need at least a years worth of money. Rent,
utilities,
equipment, stock, saleries ( salary for you too - you eat ) cleaning
supplies, taxes, licenses, insurance, etc. etc, etc. I can't even think
of
all the etcs. The reason most new businesses fail is no money behind
them.
You may have the greatest idea and the greatest location and then the
city
redoes your road or a bridge goes out or something and customers can't
get
to you for half a year and you are history.

I'm not telling you not to do it. Just learn all you can so if you do
you
have the best chance at success. LTG :)


--
Kyle Wren
"Worst... Ball... EVER!!"




.

Relevant Pages

  • Re: Dems caused current problems
    ... business into the city is for everybody who lives here. ... Sales tax is down at 6% of revenue. ... our lives are so busy that I wonder how I ever had the time to work for a living! ...
    (soc.retirement)
  • Re: AC: Bush43 Week Five
    ... Pacific City Bank And Trust. ... I glanced to Cassandra who just followed the host, shaking her head, ... discussing the aspects of doing business here in Pacific City." ... I paused for a brief moment, bent over, shirt in hand, and felt my ...
    (rec.arts.comics.creative)
  • Re: Dems caused current problems
    ... business into the city is for everybody who lives here. ... our lives are so busy that I wonder how I ever had the time to work for a living! ... I have occasionally heard people say we have too many people already, particularly people who want to stay here but don't know if they can do it because the cost is so high. ...
    (soc.retirement)
  • Re: Dems caused current problems
    ... business into the city is for everybody who lives here. ... Governments and especially city governments like sales taxes because ... Sales tax is down at 6% of revenue. ...
    (soc.retirement)
  • Re: Dems caused current problems
    ... business into the city is for everybody who lives here. ... Governments and especially city governments like sales taxes because ... Sales tax is down at 6% of revenue. ...
    (soc.retirement)
Loading