Plan B: Skip College

[Smittie61984]

Originally Posted by pauldun170

I'd like to see those stats

Off the top of my head
Small business owner.
He owns the truck, his workers drive it.

The small business owner started somewhere. He didn't wake up and then send a crew out with a $10k lawmower or a $50,000 directional bore machine. Then look at the farmers out there who have a $500,000 tractor.

Usually those people paid their dues by being a worthless $8 an hour labor workers who learned the trade and got their own equipment and started work themselves to work themselves up to millionares.

Most college graduates (Bachelor or above) I know don't break above $60k (closest one is a mechanical engineer at 58k). I know a rad tech who was started at $60k with an associates degree.

The point being is if you want to be a milllionare the best way to get there is probably not a college route.

[pauldun170]

There is nothing wrong with taking a low end job as long as you are happy living the lifestyle that the career choice can provide for.

Some people are quite content living with just the basics and there is honor in living a simple uncomplicated lifestyle.

[Kaneman]

Originally Posted by pauldun170

There is nothing wrong with taking a low end job as long as you are happy living the lifestyle that the career choice can provide for.

Some people are quite content living with just the basics and there is honor in living a simple uncomplicated lifestyle.

Right on, right on. But when you say "low-end" do you mean low paying or just any job you can get without college. Men with trades can do very well.

[pauldun170]

Originally Posted by Kaneman

Right on, right on. But when you say "low-end" do you mean low paying or just any job you can get without college. Men with trades can do very well.

low paying

[EpyonXero]

Every small business I worked for was owned by a wealthy person who started the company with money from his parents or his wifes parents.

[Kaneman]

Originally Posted by EpyonXero

Every small business I worked for was owned by a wealthy person who started the company with money from his parents or his wifes parents.

So true. The whole American dream of building a business from the ground up and rising from the roots of near-poverty to being a successful business owner are largely bullshit. In fact, your chances of making it are probably about the same as winning the lotto.

It takes money to make money.

[shmike]

Originally Posted by Kaneman

So true. The whole American dream of building a business from the ground up and rising from the roots of near-poverty to being a successful business owner are largely bullshit. In fact, your chances of making it are probably about the same as winning the lotto.

It takes money to make money.

I'm not sure that it takes money to make money but I do believe that there is a "money mentality" that people get locked into. Many of the poorer people will remain poor because that is how they were programmed.

I know several business owners that came from middle to upper class families that went to college and started their careers after graduation.

The first three I can think of "did it on their own". They didn't borrow money from their parents. However, they came from families with a solid financial background. They knew how to handle money. They worked hard and kept overhead low. They started at 0 (not in debt). They EXPECTED themselves to be sucessful because they came from success.

On the other hand, I have personally seen a business owner go from near poverty to a seven figure income. He went from working by himself in one truck to a big office and a fleet of trucks on the road. It actually came pretty easy. He's broke now. One big contract failed and the business crumbled.

His business, yacht, RV, multiple houses were all financed. Once the cash flow stopped, the lifestyle was over. He had a poor man's mentality and over a million a year in income couldn't break that.

[pauldun170]

Originally Posted by Kaneman

So true. The whole American dream of building a business from the ground up and rising from the roots of near-poverty to being a successful business owner are largely bullshit. In fact, your chances of making it are probably about the same as winning the lotto.

It takes money to make money.

(off the top of my head)
It takes talent and knowledge to get others to invest in your idea.
It requires planning and dedication to turn that idea into a successful business.
It takes knowledge to keep that business running smoothly.
It takes creativity, knowledge and dedication to make it grow.


Just thinking about all the folks I've known throughout the years who got into the "be my own boss" bandwagon (a nice wagon to be in if you can do it)

Folks under the age of 35 with just a high school education who tried to start a business.
% of who had a business plan - 0
% Who currently have a successful business - 0
% Who could tell me about the market they were trying to break into - 1

Folks with 2yrs or more education
% of who had a business plan - 80
% Who currently have a successful business - 60
% Who could tell me about the market they were trying to break into - 70

[Smittie61984]

Originally Posted by Kaneman

So true. The whole American dream of building a business from the ground up and rising from the roots of near-poverty to being a successful business owner are largely bullshit. In fact, your chances of making it are probably about the same as winning the lotto.

It takes money to make money.

Then they suck.

My GF's grandpa started his own company and was an immigrant from Greece with no money (and didn't speak any English). Now he owns a company that is worth more than $100million. I know an ambulance owner who also started with nothing and he is worth well over 100mil. I believe the founders of home depot started with nothing or very little. A firefighter friend of mine started a pressure washing business and by himself brings in $250k a year. Same for an asshole landscaper I worked for who made $500k and his dad beat him for fun (his mom died giving birth)

A lot of succesful businesses I know of started with nothing. The difference is unlike you, me, and billions of others, they had the initiative to work hard and never give up and it is why they are wealthy now.

Yes, I know you have the Paris Hiltons of the world but over all people who are wealthy are wealthy because they stived for it.

[pauldun170]

http://www.msnbc.msn.com/id/36335626...mall_business/