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dan300's Avatar
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Default 03-07-2017, 11:05 AM

The comics were from the rich dads store. When the woman who worked there was seen cutting off the top of the front pages (in order to get the credit from the unsold items) the kid asked her what was going to happen to them. She told him that the comic book delivery guy comes to collect them.

The kids waited for the comic book guy & asked him if they could have them. He allowed them to take the comics on the promise that they don't resell them.

As for the legalities of their business. They were a pair of 10 year olds, who cares if they paid taxes?

Did you or I pay taxes on any of the many drug deals we'll have been involved with over the years? I know I didn't.


Rule number 1, don't be number 2
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(#12)
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kowalski's Avatar
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Default 03-07-2017, 04:12 PM

So, they were gifted stock. I don't care about taxes. Taxes are theft.

The point of they didn't start a successful business. They had to be gifted the stock and break all sorts of regulations to get started.

If you go through people's stories, is nearly always like this. In my own experience it is like this too. So what to learn here is when starting a business you need to break regulations and beg for things to be gifted to you.


Peace,

kowalski


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dan300's Avatar
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Default 03-07-2017, 07:58 PM

True plenty of the big shot tycoons we all know, usually started out breaking rules. I'd bet Alan Sugar didn't do things completely by the book when he started out selling car ariels from the boot of his car.

It's not how I'm planning to start out though. I'm gunna make sure everything's done right. One of the first things I'll need to do is register as a sole trader.


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Shahanshah's Avatar
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Default 04-07-2017, 06:15 PM

A sole trader of what? What research have you done? What is your business plan, your business model?


Know Thyself.

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dan300's Avatar
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Default 04-07-2017, 08:38 PM

Initially I wanted to start off by selling stuff on Amazon but I felt that although the traffic is already there, the business is still Amazon & will never be your own. You're just a store/merchant on Amazon.

So it's going to be an online dropshipping business & I've decided on the website building platform I'll be using, Shopify. And the products will most likely come from Aliexpress.

The biggest obstacle has been deciding the market to get into. I read an article the other day that suggested that, rather than trying to figure out what products to sell, instead find an audience.

Products can come & go, but an audience will always be there. So that made me go back to the drawing board in a way.

I need to contact Shopify & Aliexpress & find out if everything can be done with a debit card. If not I'll have to get a credit card (something I'm hoping I don't need to do).

I'm buying a new laptop tomorrow or Thursday, so I can get stuck into it a lot more than I have (I've been multitasking at work, juggling work & research). As soon as I decide/figure out the audience/products, I'll start writing a business plan.

The next 2 months will be spent engrossed in it. I was thinking of setting a launch date, so I'll be forced to get a move on.


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Default 26-07-2017, 11:56 PM

Just finished reading..

Internet Riches: The Simple Money-Making Secrets of Online Millionaires

Pretty informative book and I picked up quite a few tips from it. But then again I've picked up dozens and dozens of similar tips from various sources over the last few months.

I'm now feeling a little analysis paralysis from all the business related reading I'm constantly doing.

I already know what I need to do, what I want to to do, how I'm going to do it, and the eCommerce host that I'm going to do it with.

Now the only thing I'm gunna focus on regarding all this is narrowing down and deciding on the target market/audience/niche.

That's the biggest obstacle and most important next step.

No more fucking reading required for the time being.


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