Wall Street Playboys - Advice from Real Wall Street Professionals
February 20, 2019 by Wall Street Playboys 114 Comments
Closed now thanks!
February 20, 2019 at 8:48 am
Following up the latest blog post, can you list a few more sample emotions/insecurities and high margin sectors beyond those listed in efficiency? Just want to continue to get the creative juices flowing. Thanks!
Wall Street Playboys says
February 20, 2019 at 11:24 am
Not sure what you mean all the major ones are in the book. Getting straight to the point, just stop wasting time and choose one of the ones mentioned. Get started today (not tomorrow) today.
Anything related to looks, money and status are all going to work perfectly fine. People are insecure and just want attention.
February 20, 2019 at 8:56 am
1. ROI of membership on paid forums like Stack That Money for affiliate? Or just learn it the hard way?
2. With Yield Curve inverting, what is your ballpark ETA for when the markets start to slow? Does your original estimate of 2-3 years get accelerated?
February 20, 2019 at 11:25 am
1) Never used it so can’t comment
2) We’re sticking with the same view about 2 years out so by 2021 we expect an uglier market. So for the next 2 years we’re just piling on cash.
February 20, 2019 at 9:09 am
Thank you for all the amazing work you are doing. You’ve helped me (almost) quit my job and hit a 6-figure run rate.
– 24 years old,
– live in a cheap city (expenses are less than $1k/mo)
– Working a job (takes up 20 hours a week, but will quit this month)
– Also have a Consulting biz selling Facebook Ads (making $5k-10k/month)
My plan is to make $1m/yr revenue with the consulting biz and then use the cash to create a physical product.
Question: At what point do I transition from consulting (essentially trading time for money) to a product business?
Question 2: Should I split my focus and attempt to run both right now or just focus on 1 for now?
February 20, 2019 at 11:22 am
1) you should transition as fast as possible since you’ll run out of energy trading time for money
2) yes absolutely you’re 24 years old and already on the right path. You have about 6-10 years left before your body won’t be able to handle 80 hour work weeks
How many meals a day are you guys eating now and what types of food do you include in your diet? You guys mentioned before that you follow Intermitent fasting and stopped eating sushi. Just curious to know since you guys are older now. Thank you
February 20, 2019 at 11:20 am
You ask this every Q&A, nothing has changed from efficiency.
If there is an issue with weight for you, reach out to an expert. We just follow the same diet we laid out 2-3 years ago. Nothing has changed.
February 20, 2019 at 9:13 am
27 years old. Fiance and I bring in roughly $300k a year (going to ramp up dramatically in next few years) in comp in a Tier 2 city.
Question: When buying a house, just put the 20% down and pay off as quickly as possible or immunize against mortgage (cheap money) and invest? Heard positives and negatives for both. Wondering what your thoughts are.
Since you’re young 1) be 100% sure you’re going to live there for 10 years or more and 2) just do the most tax efficient purchase. Sometimes you want less leverage (50% downpayment) otherwise you want 10-20%. All depends on the price, your budget and the tax rules.
February 20, 2019 at 9:14 am
1) What’s the most efficient/fastest way to get over a burnout? (apathy towards business even though it’s fulfilling your early goals, psychologically hard to work, etc)
February 20, 2019 at 11:19 am
We have never had this issue so we can’t help.
Your second question we deleted since it looks like it’s written for an audience we don’t target anymore (I.E soft people). The answer to the second one is that you lose time with nothing gained.
February 20, 2019 at 9:24 am
If you had a one-time windfall of $4 million after taxes and you had to make it last forever. Say you had no other assets or liabilities, just this $4 million to use. How would you allocate it to live off? And would you buy a house to live in, assuming you want to stay in one place?
February 20, 2019 at 11:17 am
Buy a cheap place in an area you like (city) and then let compounding do the rest. The whole goal here is to minimize costs since you’re not allowed to work.
Rest of money would be split equally between real estate, stocks, bonds with 5-10% in cash.
February 22, 2019 at 3:14 pm
Good advice. If you didn’t want to manage real estate would you just split it stocks/bonds? What about stocks, bonds, REITs?
February 20, 2019 at 9:50 am
I am enrolled as a undergrad STEM major at non-target school.
– 4-year scholarships
– zero debt
– 2.97 GPA
– Need 5th year to graduate, not covered by scholarships
a) Take on debt to complete degree with sub-3.5 GPA; cost is $45k tuition + housing/food
b) Drop-out, get shitty job to pay rent, and complete one-year Lambda School program
Lambda School is a part-time, online programming school with no upfront cost. If/when you get a job with 50k+ salary, they garnish 17% for two years(up to 30k total). They claim 83% of graduates get job within 6 months with median salary of 70k.
February 20, 2019 at 11:15 am
You should cram everything into one semester and get it done if and only if you can get a high paying job once completed.
Not going to like this answer but sounds like you slacked off terribly since you had a chance to get everything done for free and didn’t take advantage of it. Now you have to creatively do the absolutely minimum (financially) to get the degree.
If the degree can’t get you a high paying job… then between the two options choose the one with the highest chance of getting a high paying job.
As always follow the $.
February 21, 2019 at 10:05 am
Sorry to also be the bearer of bad news, but even with Lambda School that doesn’t guarantee anything. After two years of software engineering, experience doesn’t matter, it’s all about talent.
Now, if I have to pick college vs Lambda, I would do Lambda. While in Lambda apply for junior developer jobs, and continue to build your portfolio outside of class. Then once you have the junior role, drop out of Lambda (you won’t have to pay them jack shit).
February 20, 2019 at 9:56 am
I’m 27 years old, from Singapore, working in the data science industry.
I don’t think I’m good enough/interested enough in technical stuff to really get into the top jobs at FB, Google etc.
I can make a decent living in this field, but nothing close to what those guys make. I have low expenses and decent savings.
I’ve just been starting to learn affiliate marketing on the side, I made a tiny bit of profit on mobile sweepstakes so far.
Right now, I’m in a special programme working with both academia and industry on AI ending in August.
My question is: what option will move me closest to financial independence in August after I finish this?
The options I can think of are:
A) Get a stable tech job, keep doing aff marketing on the side until I can hit 2x salary
B) Get a job in tech sales, even if I start from the bottom
C) Do affiliate marketing full time, especially if between now and August I manage to scale up more
D) Start an AI consulting company, basically selling a customized service similar to this current project I’m working on. I know e.g. my previous company definitely would like something like this.
Thanks, hope this isn’t too long
February 20, 2019 at 11:13 am
Easy answer A).
Yes your question was very long and almost none of it was relevant “What is the fastest way to get independent” and just list your choices… none of the background info was relevant at all.
February 20, 2019 at 10:05 pm
I just came for the sass, fucking A+
February 20, 2019 at 10:04 am
I am in the early stages of launch of an online product. Plan is build an email list thru social media.
Should I try to validate the target market with a fake landing page to assess whether people actually buy before building a list?
Or should I just go in with building a list based on the persona and value prop that I think I am offering and then interview list members and pivot based on customer feedback?
February 20, 2019 at 11:12 am
If you have money to spend go with option 1 since ads are the best way to get rich
If you have no money your’e forced into option 2
February 21, 2019 at 5:15 pm
Normies always want the “lowest point of entry”. That’s their question, what they worry about.
Funny how that works.
February 20, 2019 at 10:16 am
Hi WSP, thanks for frequent Q&As!
Backdrop: I’m almost 23 y.o., recently got into PE after <1.5 yrs in banking. Knew that the firm would be tough, but accepted anyways because my other choice was to remain at my small boutique which focused on one niche and relied on 1-2 MDs to bring all deal flow. PE firm turned out to be a sweatshop with all of the more experienced associates and senior associates above me still working 15+ hour days (and no downtime waiting for comments like banking, all work in those 15+ hours). On the positive side the team is nice and get to work on interesting deals.
Question: I will have to stick it out for another year to get the full bonus, but after that does it make sense to switch to another firm (and have to restart establishing reputation again and risk ending up at sweatshop again) or go back to the boutique I came from (and already have good reputation) with much better hours and finally start focusing on side biz? Goal is to be out of wall street as soon as possible. Understand that you recommend choosing the firm with the lowest hours but in the latter case I’d be taking a step back in terms of firm caliber so curious about your thoughts.
Can you please only post your answer in the comments? Thanks!
February 20, 2019 at 11:11 am
No change, always choose the one that gives you more time to start something. This question gets asked every Q&A and no one’s situation is special will always get the same boring response from here.
If you’re even considering going to a sweatshop when your goal is to “leave as soon as possible” you’re either lying to yourself or not serious about getting out.
February 20, 2019 at 11:03 am
Do you guys currently own or rent and what percentage of your monthly budget do you spend on housing?
February 20, 2019 at 11:09 am
Majority own, less than 10% of after tax income.
Have you guys read any interesting books lately?
February 20, 2019 at 11:27 am
Nothing special yet, if we read something useful we’ll tweet or post about it
February 20, 2019 at 11:51 am
Assume nothing has changed since Triangle Investing, but do you view current potentially “bottomed out” crypto market as a worthwhile investment at this point or are you guys still sitting on the sidelines?
February 20, 2019 at 11:52 am
Nothing has changed at all have low single digit percent of net worth in there.
Haven’t checked since it’s a small percent
Still get a good laugh at people buying at the peak then blaming others for their bad decisions. It takes about 1-2 years of studying to understand it enough to buy.
February 20, 2019 at 12:16 pm
Starting a supplement line through Shopify. Currently working on the value proposition and marketing/labeling/etc. As for next steps, do you recommend testing demand via the website using mock-ups, 3-D renderings? Manufacturing can become very costly. Obviously I wouldn’t charge customers without having a physical product. Thoughts?
February 20, 2019 at 12:51 pm
Sounds like you have money to test, so buy ads and see the conversion. When it checks out just say “out of stock” and don’t charge them. Mark that as a “sale”
Do this for a few bucks and you’ll know your roi
February 20, 2019 at 12:20 pm
Perfect demographic for $$$
American female, 35-44, white (asian possibly t00), +$100K household income
February 20, 2019 at 12:52 pm
Probably married women with money. So that’s about right.
Depends on what you’re selling though. There is a lot of money in every demographic depending on the product
Honestly it amazes us how many ridiculously awful products sell, so just find any niche where you know the consumer well.
February 20, 2019 at 1:00 pm
Question regarding buying your own home.
In my country, there is this government backed program to help people buy their first home, details:
Can get government backed loan for 180k, maximum interest for this part is 3.8% (capped).
In addition to this 180k, you can take normal loan on top of that.
To enter this program, you have to take a specific bank account, that has the following details:
You have to invest 150-3000 dollars per quarter and have the account for at least for two years before you can get the loan. For this invested amount, you will get 1% compounding interest and 4% yearly interest (not compounding) for the first five years, that is paid after you take the loan in the end. If you don’t take the loan, you will lose the additional 4% interest. Also, if you buy the home with this program, you often get better loan terms.
Basically, 5% risk free for the first five years. Would you enter this program and if so, would the optimal strategy be to invest 3k per quarter?
February 20, 2019 at 1:15 pm
Probably best to avoid an answer here, don’t know the rules don’t know if there are any issues if you want to change the loan terms Etc
Also $3,000 a month invested per quarter isn’t going to Change your life at all.
Would stick with the same answer, only buy if you’re going to stay for 10 years minimum and get the best rate/loan to minimize your taxes.
If this program is the best deal then go for it, since we have no idea about your current options.
February 20, 2019 at 1:03 pm
I (German, 32, single, 400K€ Net, Income: 50K-250K€ (FBA, online biz) before taxes(=40%)/year) decided to move now.
I am torn between Cyprus (5-12.5% taxes) and Miami. Miami wins over Cyprus in everything except taxes.
Am I too focused on taxes? in your opinion, does it make sense to spend a few years in a boring, undriven, low tax country to increase one’s net worth faster?
February 20, 2019 at 1:18 pm
Unless you can make more money in Miami makes no sense to move there with a $400k net worth and $100K income.
You won’t enjoy it.
If you can make $200K a year (after tax) and are a millionaire then it’s probably a good time to move to Miami. Competition is too stiff with $100K in income.
February 20, 2019 at 1:23 pm
Thanks for the articles over the years. I worked on the advice you guys gave when the Tier 1 and 2 question was still a thing.
Current situation: day job nurse, base salary $75k pre-tax (based in Australia)
Tried consultancy, then online sales route, not great at it. Then started a location independent online service-based business (scalable).
I’m using tools/software to automate, so only actually working 5 hours a week on it – not including marketing.
2017 – Y1 net profit: $18k
2018 – Y2 net profit: $110k
Net worth: $400k+
Question: I find going to my nurse job a chore now, and I really enjoy working on my business when I get home. Would you recommend quitting my day job and focusing solely on the business or sticking it out (due to be “promoted” in nursing for a 20k pay raise come June).
Of course, no one else knows about the business.
February 20, 2019 at 1:45 pm
Rule of thumb is biz income must be 2-3x larger than current income before quitting.
But up to you as usual.
lil gator says
February 20, 2019 at 1:27 pm
I followed your advice on interacting with casuals. The results are astonishing. Almost no one wants to talk to me (a friend of 5 years says I have a huge ego now).
I feel a mix of bitterness/ fuck them attitude right now.
How to stay positive in the midst of the hard times? Struggling a bit as being negative occasionally hurts my productivity.
If no answer then
You recommend performance, and or group activities but what provides the biggest social boost per dollar spent on activity on the low end (im still broke)? I can always look up the dollar part myself but I need help understanding which activity has the most potential for social boosting. Thanks.
February 20, 2019 at 1:47 pm
Have no idea what your question is please rephrase in a single sentence.
“Boost social per dollar?” No clue what this means.
Talking to people is free so no idea why it would cost money. Paying for friends is also insanity, so not sure where this was going.
If you don’t have friends and are going out 2x a week it means the problem is in the mirror.
February 20, 2019 at 2:04 pm
What activity has the highest potential to improve social life/capital at the lowest cost? Ex. Group activity, learning performance art, sports
February 20, 2019 at 2:40 pm
Probably just meeting people during the day, so coffee shops. Cost $0. If you don’t want to spend you don’t need to.
Don’t try to network with rich men until you have something to offer. So your starting point is likely attractive women in coffee shops to improve your social life
oil well pauper says
February 21, 2019 at 11:45 am
stop acting like you’re rich and successful when you aren’t and your peers won’t think you’re a snob/loser
February 21, 2019 at 11:49 am
February 20, 2019 at 2:01 pm
A business you’ve been running for a few years stopped growing due to external circumstances (for example, Amazon/Google/Facebook/etc. changed one of their policies and it affected your business a lot).
Do you make dramatic changes in the business, double down on the old stuff that used to bring most results or write it off and start a new business?
February 20, 2019 at 2:41 pm
No way we can answer this: don’t know the industry, why it doesn’t work anymore and what the risks are of trying to do the same again.
Not enough info. Typically if you force an answer, you can usually fix a broken down traffic source (unless doing something illegal).
February 20, 2019 at 2:52 pm
What do you guys do for fun? Hobbies?
February 20, 2019 at 2:55 pm
Sports, partying, events (concerts, plays etc), water sports.
The usual across the board
February 20, 2019 at 3:08 pm
As someone with some basic accounting classes under their belt (college elective)what are some good books/resources you used to make sense of reading 10k reports and creating models or drawing conclusions from the data. Primary looking for insight to IB on a small scale to do some of my own research on purchasing a business, looking to do top down bottoms up thing that you did a few years back for apple…like how did you figure out what percentage of revenue came by way for iPads?
February 20, 2019 at 3:22 pm
Not sure what you mean all those numbers are disclosed in the filings.
If you’re looking to purchase a business unless you’re a billionaire looking at filings isn’t a good use of time.
The only way you purchase a biz is if you know you can fix it. The only way you know that is by learning a specific skill within a specific industry. Otherwise how else would you know that it is poorly run?
You’ll quickly learn after graduation that nothing from college is applied to work, only the basics of knowing what each line item means.
Multiple Revenue Stream Brah says
February 20, 2019 at 4:31 pm
1) How do I evaluate the cost/benefit of scaling a current biz vs. starting something new? Context: Have a $2K a month side business. With minimum effort (5 hours per week), it can continue around $2K a month indefinitely. With much more effort (10-25 hours per week) I should be able to grow it to $5-10K/month. The current biz is proven but I feel like the ceiling is lower. The new ideas are unproven with a higher potential return, I just don’t want to be a juggler or waste time earning $0, when I could scale something proven.
2) Advice on meeting successful friends? Efficiency outlines a great social strategy for females, but I realized my male friends are not my peers. (boring personalities, broke, zero ambition) Not looking for “mentors” or anything, just wish I knew some people on a similar path as me.
February 20, 2019 at 6:52 pm
Unless you are rich you should keep scaling it because you should always strike when the iron is hot. If you are already rich you wouldn’t be asking this a scam it wouldn’t be of interest to you.
We continue to make the same recommendation: high end gyms.
February 21, 2019 at 11:55 am
Well if your looking for successful people don’t look at your old friends, theres a 99% they are in the 99% of the population, plebs convinced by their politicians their equal, therefore no needs to improve.
Go to places with High Bar entry fees. Upscale bars, gyms, paided memberships(business chambers). Common knowledge, think of country clubs.
February 20, 2019 at 5:16 pm
Hey, just for fun, what are some of your favourite quotes?
Hope you’re willing to share if it isn’t too personal. Cheers.
February 20, 2019 at 6:17 pm
Don’t really have any favorite quotes, feel free to ask a different question
February 21, 2019 at 6:49 pm
Ah, will catch you in a future Q&A.
p.s. love the frozen banana tip
Dave k. says
February 20, 2019 at 5:45 pm
Awhile back you mentioned blood work to get as you get older. There was a specific name for it…ring a bell?
Physical is scheduled for a few weeks out.
February 20, 2019 at 6:16 pm
Not sure, you should have a private doctor by age 35 or so
February 26, 2019 at 10:22 pm
Chekd or Defy Medical are great
February 20, 2019 at 5:49 pm
Currently have an affiliate marketing site up, did it the cheap, bare minimum way and making a few bucks here and there. I understand the importance of doing it right in the first place and spending more upfront. Other than logos, traffic, what else can you suggest to improve my site?
I currently just take photos on my iPhone for sales page images, but understand how primitive this is. What other methods of using your own images do you guys recommend
February 20, 2019 at 6:36 pm
Not enough info to help, sounds like you need significant traffic so choose one: social media, Seo or paid
February 20, 2019 at 10:35 pm
To add a bit more detail to the second question, sales pages being articles/product reviews with images of the actual product or related content
Images should be self made by yourself easy work around if needed. They cost almost nothing
February 20, 2019 at 5:57 pm
Started a sales job 3 months ago, I’m improving but not as fast as I want.
23yo, eNTJ, get called blunt/stubborn by friends, small talk doesn’t come naturally.
How long would you say is enough time on the job to establish whether sales is the right career path?
I’ve had days in my job where loads of results come in all at once, so I’m wondering if there’s something I’m just not picking up on.
Been good at maths/computing since I was young, but it will take much longer move up the salary ladder starting from nothing in tech. Sales has faster progression, better culture, and I want the sales skillset for when I start business.
Going to save my other question until it’s more relevant and practical.
Cheers for all the advice, looking forward to the next book.
We don’t know as we never worked in enterprise sales… so can’t help would be bad info.
Just base it on how much you are making.
Semi Baller but Bored says
February 20, 2019 at 6:18 pm
Have alot of downtime in current job, about ~2 months off since my last project has been completed and next one wont start until April. I am a small RE developer (income is about ~500K+/yr)
Working on building a side biz – but dependent on developers to make me the correct product since I am not a technical/coder individual. Will be completed around July and will devote alot of my time to building/marketing it then.
Feeling major depressed lately since I am so bored and have nothing to do, despite the ‘ambition’ that I have and even my ex gf thinks I am lazy since I dont “work much” and I feel like I am not prioritizing my time.
Any advice on how to kill depression like this (I know I do well, but it doesnt show and people think I am lazy and not fulfilling my potential including myself)? I have been researching other avenues to pursue in the downtime, I make money from RE, trading, and hopefully soon to be my new venture starting summer, but still have so much downtime in the days.
February 20, 2019 at 6:35 pm
Sure start a small online business. No such thing as being bored, just boring people
February 22, 2019 at 4:47 am
To OP, make sure you have your health in check. Intense exercise and intermittent fasting (with black coffee if you want) both help “depression” massively, both immediately and over time. I’m broke, so I can’t give you business advice, but this should help you with negative psychological symptoms. Lowering your sugar/carbohydrate intake usually helps too (longer term).
Semi Baller says
February 20, 2019 at 6:39 pm
6DI asked a question from a previous purchase but will add on briefly here for a second question
30 y/o, 500k+ income, have freedom & flexibility to do w/e I want on most days.
Just feeling bored and depressed since I have so much down time – actively working on building a side biz, but waiting on developers to finish it by summer to start working on it.
Would you choose $$ over prestige, feeling fulfilled, etc at this point in my life?
Rational me – stfu, i’m making good money, i spend a shit load of money on my lifestyle per month without worries, I can do w/e I want, already pursuing other side biz, and have time to pursue other stuff, so find something else to occupy your time
Emotional me – not feeling prestigious, lots of downtime / boredom, people think I’m lazy and just not going anywhere in life, tried several side biz havent had much success yet, not seemingly able yet to find other passions/avenues to make money yet
February 20, 2019 at 6:54 pm
Ha! This isn’t a place for human psychology, no one can tell you how to live.
$$$ over prestige until rich then do whatever you want.
February 25, 2019 at 5:08 am
what do you do?
February 20, 2019 at 7:05 pm
Thoughts on selling enterprise software to government in Washington DC region, the Government seem to always have a lot of money regardless of the economic. In general, would you say that DC area is a good place to build wealth comparing to NYC?
February 20, 2019 at 7:13 pm
Just depends on how much it pays. That’s the end goal. If it’s 6 figures plus with performance based income, then yes. Wouldn’t worry about location, only thing that is relevant for long-term wealth is business equity which is location independent.
February 25, 2019 at 12:13 pm
If you are a US citizen , DC is a great place to make money. You can start with Sales in any of major consulting services(they can get you TSC cleared) and quality of life is good too…
February 20, 2019 at 7:06 pm
Other than the dumb name. What problems do you guys see with the manosphere?
Seems like many of your readers cross from there. Or they get sucked into that space but never leave.
February 20, 2019 at 7:17 pm
No clue what is going on there anymore haven’t looked at it in about 4-5 years now.
Just seems like a bunch of broke guys trying to get girls without fixing their lives first
February 20, 2019 at 7:12 pm
What kind of stimuli were you guys on when working Wall Street + size biz?
I’m guessing more than lemon water and coffee?
February 20, 2019 at 7:15 pm
Actually nothing but caffeine, the stronger stuff is for when you’re old and actually need it
This is why we get a good laugh out of people trying to use stuff like adderall at age 22… makes them unable to compete by 30.
February 20, 2019 at 11:46 pm
Whats your guys advice for a good landing page software(click funnels?) for acquiring leads to sell them insurance/annuity.
February 21, 2019 at 11:41 am
Unfortunately never did the lead generation game, you guys know what we’re in 🙂
February 20, 2019 at 7:21 pm
Interested in knowing what your experience was like in Vienna (mentioned on Twitter a few months ago). Places you saw, spots you can recommend?
Thanks for your time.
February 20, 2019 at 7:34 pm
Honestly nothing special here to call out, too low key of a city
February 20, 2019 at 7:24 pm
Thought on selling the shovel business model(seems that people who are getting rich from the gold rush are the one that shell the shovel, not the gold diggers, example, crypto) instead of trying to create a product from scratch (e.g trying build a start up, create a diet product from scratch ). Am a developer by trade, lots of people are trying to become developer, I can maybe become a domain expert like say AI, Cloud technologies, teach kids and people on programming online, and create online courses on such subject.
Sure that’s highly recommended just needs to be scalable
February 20, 2019 at 8:04 pm
did you mean selling the shovel business model is highly recommended or both the business model and my thoughts of selling programming courses?
February 21, 2019 at 11:47 am
Selling the shovel is always a good idea, we don’t know anything about programming courses, but we do know 100% that software/recurring sales is the best model
February 22, 2019 at 11:15 am
I’m a dev at FB.
There’s a lot of online ‘how to codes’ to the point where ‘how to interview’ seems to be more profitable. If you have a different angle on it tho gl would be very profitable.
February 25, 2019 at 1:00 am
thanks man. Mind if I ask you how your exp at FB was, I actually interviewed at FB not too long ago.
February 20, 2019 at 7:28 pm
Do you know how much expenses would be for a “good life” living on UES with a couple kids? excl. housing.
February 20, 2019 at 8:02 pm
What is UES? We’ve used $1.5M net worth per head as a good minimum proxy. Lower in cheap areas higher in more expensive areas
February 20, 2019 at 8:16 pm
Upper east side/ manhattan generally
February 20, 2019 at 7:30 pm
For someone with technical skills:
Try to start a software saas (think boostrapped tech startup) vs. standard physical product, or is there no difference? Would guess saas has higher potential upside (revenue + recurring income) but takes more time to start + higher likelihood of failure.
(Secondary question if you feel tech experience is required to answer the first)
You mention that ripping landers/ads of successful campaigns is the way to go. In the adult affiliate space most of the creatives/landers are using models–any legality/copyright concerns with using the same photos?
February 20, 2019 at 8:12 pm
1) 100% go the saas route if you can, that’s the most scalable business in the world
2) no just use different photos, most photos aren’t even real anymore anyway – AI generated
February 20, 2019 at 8:00 pm
I just turned 24 and have been employed at Facebook since undergrad. I have had many people more successful than me, both directly in the field and not, tell me to pursue a niche and I have been trying everything to position my career in this direction, as _both_ the network in that niche and the additional income generation (by getting promotions + higher paying jobs) would theoretically be massive.
However, things are much harder than expected. At what point do you give up on being in the ‘in’ crowd at these companies? I ‘want’ to leave (like everyone else) but having the massive Net Worth increase and network would be great right? Or would it be better to just start and figure it out after?
What is your question here? don’t know what “in crowd is”.
Do whatever makes you the most money temporarily and start something ASAP.
Bay Street Playboy says
February 20, 2019 at 9:10 pm
When did you guys realize in your lifetime “oh shit I need to start a side business to become financially independent”. I just feel that this knowledge is very rare to come by as only 1% know it’s the the only way to become FI and only 1% of that 1% will actually act on it.
I consider myself smart but my friends that are much smarter than me don’t realize biz is the way to go and ask me “I have 10K to invest, do you know where I should put that”?
February 21, 2019 at 11:46 am
Sure when we realized that there was no such thing as a rich person who worked for someone else for a living. That’s when realization sets in!
Talent Q says
February 20, 2019 at 11:12 pm
How much time roughly of doing a task/career path does it take before you start to notice you have talent in it?
For example one of your posts you say a key sign you’re talented in something is when the work seems almost effortless – how long after doing the task roughly should you start feeling this? Instantly? Or is it something you notice gradually over the first 2 months? etc thanks.
February 21, 2019 at 11:43 am
OTHER people should tell you you’re very good at it within a year or so. The first year is always hard no matter what, if no one says anything after 2 years.. not a good sign
February 20, 2019 at 11:29 pm
Biggest regret? If it’s too specific, what did it involve (money, women, family) and what did it teach you?
February 21, 2019 at 11:42 am
Lots of regrets, laziness with product launches, taking to much time off. Regret though is just a bad word for experience.
Tons and tons of them, but it’s all part of the game
Nothing life changing to highlight though since life is amazing now!
February 21, 2019 at 5:42 am
Do you use Google products like Mail, Calender, Notes, Contacts, Drive, and Maps on your computers, smartphones or tablets? Use them because of the productivity benefits or not use them because of all the privacy concerns?
The same question applies to Apple and Microsoft products.
Use apple for basically everything, then private storage for anything serious (cloud for no essential info)
February 21, 2019 at 5:52 am
What’s your view in *current market *climate of:
– Buying an apartment / condo within an apartment building instead of renting it
– living in it for the majority and paying mortgage instead of rent while building equity
– when not there traveling or bored of place, air bnb/rent it out to continue building equity
City choice would be commuter to NYC like Jersey City, Hoboken, Etc or somewhere like Austin / Florida
February 21, 2019 at 11:35 am
Same view, only buy when you’re ready to live somewhere for 10 years. The rental small money income isn’t relevant, RE is a long-term game
At this point we are stacking cash but a good deal is a good deal
February 22, 2019 at 12:12 am
Makes sense. Rental income is definitely small, but the equity you build could potentially be large and a no brainer if you do expect to stay in a city long term. And if you don’t want to stay 12 month/year, still build equity by having your air bnb tenants pay your mortgage.
February 21, 2019 at 5:56 am
Are familiar with ways to improve your speaking voice (tonality/volume)? Would you recommend getting help from a voice coach or is there any product out there for it?
February 21, 2019 at 11:34 am
Honestly books don’t help here. You’ll want to look for a voice coach. Remember that taking speaking classes for this are not worth it, what you want is something to change your regular voice not a speaker presentation voice (not the same)
Have never done it, but people who mention it typically recommend the coach side
February 21, 2019 at 6:25 am
One of your latest articles is a guest post from Ed Latimore. Very interesting but don’t you think that several years of audience building for a 5 or 6 figure income isn’t so profitable compared to your product sales strategy?
February 21, 2019 at 9:29 am
Yes 100% agree, we just put it up there as a congratulations to him
As usual never trade time for money, always create a product to get rich. Won’t get rich making $100-200K a year
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