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20FromNow
10 years ago

What would it take to add a new board in the TSP forum to discuss business ideas? I realize it would need to be an “earned” board that would be hidden until people people prove they are legit members of the community.
We could exchange business experiences, ideas and resources as well as figure out a way to try to do business with each other when possible.

Mr. Bill
Mr. Bill
10 years ago
Reply to  20FromNow

We have such a board! I just updated the board name and description to make this more clear. Anyone who has been participating on the forum for a little while should have access to Work, Self-Employment, & Small Business (formerly known as The Work Board
(Please, this is the place to discuss business ideas, not to look for customers.)

20FromNow
10 years ago
Reply to  Mr. Bill

Is there a place for TSP members to mention what they do if people like me would like to do business with other members?

Cal
Cal
10 years ago

Look forward to listening. Have been looking for this type of podcast for awhile.

Riley_P
Riley_P
10 years ago
Reply to  Cal

I agree Cal! Can’t wait to listen, hoping there’s info about Tax breaks included =)

(The New) Mike Cornwell

This is definitely a good read that a lot of non business oriented people should read.

The reality is it really is THE COST of doing business. It’s not “tax breaks” but really just showing the TRUE cost of what it takes to run a business. It seems silly and with the wrong eyes one might view “oh he is viewing forests and taking it off his taxes”. No, Jack Spirko and his business needs just as much education and exposure as any other business. A business doesn’t exist in a vacuum and neither do the individuals who run them. Since Mr. Spirko still has to pay for those things, as he said the cost is real. It would be one thing if he got to go and somebody else paid for it (subsidy).

Eventually you start to realize that in order to be good at business and stay “ahead” you have to dedicate money you’d otherwise waste on things like useless consumer devices, on things that will improve your attitude and perspective on the business climate. In a weird round about way the “tax breaks” end up encouraging you to use your time, money, and mental efforts towards paying attention to business related things, rather than getting side tracked. (Because there is an “incentive”)

Riley_P
Riley_P
10 years ago

Thanks Jack! I didn’t know anyone responded to this until I heard the listener call show today.

As you can tell by my wording of “Tax breaks” I’m pretty new to the whole world of being self employed. Taxes and deductions were something I assumed played a major role in helping business owners keep more of their money.

I’m thankful for the responses and the opportunity to learn more as I go heading toward living my better life.

See you all at PV2!

Cal
Cal
10 years ago

All great points Jack. Many not self employed do not realize the burdens of having your own business. On a future show it would be great if you or a guest could delve into the formation of a small business (LLC, DBA, sole propr., partnership, etc.) and which makes the most sense for different types of online businesses or businesses that are into permaculture.

Cal
Cal
9 years ago

Hey Jack,
If you don’t mind elaborating on as you’ve discussed types of businesses in the past (LLCs, sole propr.s, S corp, etc.), for your website and your permaculture business what form is it? Is it sole propr. or partnership (with your wife)? I have a husband-wife dba in Tx. that involves selling online. I want to take our businesses to the next level to an LLC/S Corp but she is wanting to continue doing our business as it is. Frustrating as heck at times. One drawback is Tx makes it confusing with their franchise tax and how they treat LLCs.

John Pugliano
10 years ago
Reply to  Riley_P

The best fringe benefit of being self employed is FREEDOM. Not FREEDOM from work but FREEDOM to do your life’s work.

Insidious
Insidious
10 years ago

One of my favorite subjects! =)

A couple of thoughts for people getting started.. (all IMHO)

>> Dig a well before you’re thirsty.
AFTER getting fired/laid off, burning thru all your savings, and failing at finding a new job, is NOT the time to try and start a new business. Start NOW, while you have resources ($) and don’t have to deal with the DOUBLE stress of trying to start/do something new, while your family is freaking out about income.

>> Small steps
Make a list of the ABSOLUTE MINIMUM number of things you have to do to get to your first DOLLAR of sales. Do ONLY those things (add to the list when you discover the things you missed or didn’t know about).. DON’T do anything NOT on that list (What you’re doing is PROCRASTINATING because you don’t want to work on one of the things that you NEED to do).

>> Mini Habit it..
Do SOMETHING no matter how tiny, everyday. Not ANY something, something that is on your above list. You don’t have to complete it, but you have to make some progress on it.. no matter how tiny.

>> Let Einstein help you..
Einstein said ‘We can’t solve our problems with the same level of thinking that created them.’

This has a number of interesting implications.. First, your life, now.. is the OUTCOME of your BEST THINKING. If you don’t like the way it is.. more of YOUR best thinking, isn’t going to change it.

Remember? Insanity = doing the same thing and expecting a different result. So, one of two things needs to happen.. you either need to LEARN to THINK BETTER.. or BORROW someone elses thinking.

Mentor = someone elses thinking. Massive reading/study of other successful people in whatever you’re trying to do.

So.. if your thinking isn’t getting you where you want to be? Humility time. Admit you don’t have the chops, and seek out the advice/training you need TO GROW into what you need to be, to have the life you want.

The only thing worse than a dummy, is an arrogant dummy. 😉

And slightly unrelated.. every aspect of your business is an EXPERIMENT.. make that experiment as cheap as possible (fail fast, fail cheap, fail small) that means do all the experiments you can WHILE you are still getting income from something else.

As an example.. if you were going to try out a new recipe, would it be better to:
a) make one batch and try it out on your family
b) make 100 batches, and send them to all of your friends
c) make 1000 batches, that if not sold successfully will result in you moving in to your car

How SMALL can you make your tests/experiments? How can you perform them more QUICKLY?

And.. finally.. NOW NOW NOW NOW NOW NOW.. What? You think you’re going to live forever?

Insidious
Insidious
10 years ago
Reply to  Insidious

..that first $1 in sales..
I should have mentioned.. NOT your first dollar in sales to your FAMILY or someone who already knows you.. your first $1 to a stranger, who found you thru your MARKETING efforts.

The pool of family and friends is rarely large enough to lead to a successful business.. unless you have hundreds of friends. =)

Roundabouts
Roundabouts
10 years ago

QUESTION: Would you move prior to starting a (home based) business IF you have to have written permission from ALL the people that live on your private road? (this would be a COUNTY rule not HOA or CCR)

This would be a 100% must should we have people coming to the house. Helpers workers students family friends delivery. It matters not why they are there or who they are you are only allowed 4 people per day including your own family members. Also the same people who gave their written permission could take it back. Which would cause a major change either to how you operate or a fast move. Thoughts …..

(The New) Mike Cornwell
Reply to  Roundabouts

In my opinion yes. Now if you think you can or want to “change their mind” and change the rules, that’s up to you. I asked a similar question to Mark Shepard regarding site access for large trucks.

If what you want to do isn’t allowed, the easy route is going to where you can, otherwise accept the scenario for what it is and your only choices is to head upstreams, WHILST starting a business. (already an upstream issue)

Insidious
Insidious
10 years ago

‘What business should I start?’

To which I answer ‘There is no expedient to which a man will not resort to avoid the real labor of thinking.’

If you don’t have a business idea.. how about finding someone who DOES (another entrepreneur) and work on their idea, while you learn how to be an entrepreneur?

To SUCCEED at entrepreneurship.. you must become an entrepreneur. That means learning, practicing and mastering a new set of skills.

Even if you go in as an EMPLOYEE.. act like its YOUR BUSINESS. Think like its your business, study like its your business. Work and put in the same number of effort/hours you would if it was your own idea you were working on.. this will teach you the skills you need to succeed on your own as QUICKLY AS POSSIBLE.

At some point in this process.. you will GET your idea.. because your ‘new brain’ now thinks/sees/feels like an entrepreneurs brain.. and frankly ALL an entrepreneur sees is INFINITE possibilities for service.

The PROBLEM with being an entrepreneur? The days are too short, the weeks are too short, life is too short! How am I supposed to take advantage of ALL of these opportunities!?

(The New) Mike Cornwell
Reply to  Insidious

That’s definitely a problem. For me (and i’m sure others) are based on paralysis analysis on things that hadn’t even happened yet and won’t happen especially unless I were to get a business going. One of mine is feeling like I’m locked into something that has a ceiling. I guess the concern is being able to have “resources” to ramp up if I want to ramp up.

But saying it out loud it’s all bullshit and I know it. =)

Insidious
Insidious
10 years ago

How can the (inanimate) business you own ‘lock you in’? You can only be imprisoned by yourself.

If you decide you don’t like the cage you’ve built for yourself.. walk away from it.

‘I want to go for a walk, but I haven’t started because I might get tired of walking later.’

Your fore brain is a ‘reality simulator’.. start running better simulations.

What are you going to do with all of your success? Better plan now for when the business is too big to handle by yourself, or for when you want to sell it (eMyth).

Running a ‘pre mortem’ on your idea is fine, but vague concerns about ‘something bad’ happening have no place in your battle plans.

A specific ‘something bad’ (lack of capital) can go on the strategy list as a ‘problem to solve’.. but you have problems to solve NOW that are here NOW.. so that one goes on the back burner for your subconscious to chew on.

Sufficient unto each day are the cares thereof.

But.. you can’t be trapped.. by yourself. You can choose to pretend you are trapped.. but that’s it.

Sean
Sean
10 years ago

His bio photo made me think this episode was about ham radio.

One can only dream…

John Pugliano
10 years ago
Reply to  Sean

I’d love to do an episode with Jack on High Frequency Ham radio. Let people know that with little more than 100 watts (or much less) you can talk around the world. (I’m not into the small hand held UHF/VHF commo, unless it’s for local emergency support.)

Maybe next year, if there’s interest from the audience.

Alan Georges
Alan Georges
10 years ago
Reply to  John Pugliano

“Maybe next year, if there’s interest from the audience.”

Oh, there definitely is! He did do an interview episode a couple of years ago (Ep. 928) with Tim “The Old Grouch” Glance, but it was more of an overview.

OTOH, it’s not Jack’s thing, he’s touched on the subject, and there are some other podcasts out there that do the subject in more detail. http://amateurradio15.com is done by SCWolverine, a regular on the forum. Maybe something there?

Jose Garcia
10 years ago

Jack, I have not had time listen to the last three episodes, but you’re on a roll. Great topics and guest.

Andrew
Andrew
10 years ago

I hated this episode! I should have loved this episode! I shouldn’t be saying either of those things. I get depressed listening to this type of stuff because I feel depressed that I haven’t done more with my life. I feel like jack must have when he was 38 doing his podcast in his car and here is am about to hit 39 in 8 days. It’s so frustrating! yet so invigorating! I sell cable internet and phone service door to door which is just like anything else. It has it’s advantages and disadvantages. Anyway, who wants to listen to me ramble? ……..

(The New) Mike Cornwell
Reply to  Andrew

Well I made it to the end of your “ramble”. =)

Sounds like you need some more inspiration. Never too late to do something new!

John Pugliano
10 years ago
Reply to  Andrew

Andrew if you can make a living selling door to door than you are one disciplined persistent SOB. You’re one in a million, that’s a rare talent. Now take that talent and focus it, make it work for you. You want to do agriscaping? The quit complaining and go do it. I know you have it in you. If you were a quitter you couldn’t do sales. When you’re done working your day job, don’t go home until you’re sold an agriscape, one a week. Give them away if you have to. Get better with each job. Start small and scale up. Develop a system, add some part time labor. At the end of the year you’ll have a portfolio of 50 jobs and satisfied customers to show case your work.

Danny
Danny
10 years ago
Reply to  Andrew

Andrew, I’m 53, my wife and I just got out of debt a few yrs ago and have a small 401k (less than a yrs income, a good amount of physical silver, and just built up our emergency fund to 6 mos, other than that I’m barely getting started), I’m excited about my future! Hang in there, I wish I had heard this kind of stuff when I was 38!

Andrew
Andrew
10 years ago

Actually, I have no shortage of inspiration. I get inspired to wanna build a microgreens business one week, and then it’s a worm farm, and then it’s a nursery, and then it’s agriscaping (www.iagriscape.com) but it’s a problem only me myself and I can fix.

(The New) Mike Cornwell
Reply to  Andrew

That’s actually I think where most people end up, so you end up having to choose. I think what ends up happening is since we’ve all kind of pin balled around through life we end up losing specific desires and end up getting enchanted all over the place. So when the question of “what was I put on this earth to do” comes up, you end up gravitating all over.

You’re not alone!

Agoraculture
Agoraculture
10 years ago

Hey, Andrew! My name is also Andrew. I am also 38 and I also have business analysis paralysis as described above by the New Mike. I used to work at the same company as Jack 10 years ago. I “marketed” phone and internet services very, very well. However, I can’t “sell” to save my life! You have a huge advantage there! Happy Birthday!

whalespicy
whalespicy
10 years ago

I’m not seeing the Work, Self-Employment, & Small Business board on the forums so here is my biz idea:

A Prepared Meal Delivery Service based on a Paleo/Ketogenic Diet

1. Establish that this type of meal is beneficial. This has already been done by Mark Sisson, lots of MDs, studies, etc.
2. Offer info/videos on cooking recipes, menu planning, etc.
3. Offer a delivery of this meals. Maybe a $50 minimum? Maybe twice a week? To be legal, a catering kitchen is needed. This could be a non high priced location.

I’m thinking this might appeal to more high $ earners who want health and convenience. They could therefore pay a premium price. Could it be that many people would like to shop for food locally but don’t know what to do with it?

whalespicy
whalespicy
10 years ago

thanks, that’s an incentive then

Insidious
Insidious
10 years ago
Reply to  whalespicy
Insidious
Insidious
10 years ago
Reply to  Insidious

btw.. if you want to talk about EXTREME value add.. take your beyond organic stuff.. and package/sell it like this.

this is a ‘franchise’ waiting to happen.

Whalespicy
Whalespicy
10 years ago
Reply to  Insidious

A part of my idea is borne of a lack of direct marketing. My farm is not up and running yet, I’m still researching what to grow or produce. Right now pigs, chickens, and vegetables are potential players.

I am intimidated at the idea of how to sell whatever I produce. My business idea it would be a backdoor approach to using those items. It’s variation on the Joel Salenton fiefdom idea. If the business could be started and makes a profit it could be sold or taken over by someone.

Also I have a strong background in cooking, I was in catering for a long time. Of course, trying to produce pigs, vegetables, and catering could be a bit much.

Insidious
Insidious
10 years ago
Reply to  Insidious

@Whalspicy –
This is exactly the ‘problem’ that Insidious Industries is currently working on..

Tools to enable/empower marketing/CRM for small farm enterprises.

When its done I’ll probably hit Jack up for an interview to describe what we believe the NEXT generation of customer communication will be.. and why the first vertical market we’re pursuing is the small farmer.

(this is an ACTUAL insidious industries product.. in design phase)

(The New) Mike Cornwell
Reply to  Insidious

I definitely agree with we’re hitting the stages priming for “beyond organic”. Organic is becoming more of the “standard” (at least I think so). So many people talk about the “cage free organic eggs” now. Ok well, let’s take it to that next level of quality.

20FromNow
10 years ago
Reply to  whalespicy

Insidious’ link to PetesPaleo is a great example.
My wife and I eat Paleo, and to do it well requires a prep time commitment.
– We source the best meat and veggies we can.
– We try several recipes until she finds some recipes we both like.
– Once we got some of those figured out, we make large batches of awesome food then store it in glass pop-top containers for re-heating.

If you can find great local sources and provide high quality food I believe you could develop a cult following of busy Paleo people. Instead of shipping all over the country, you might be able to reduce costs by doing drop-offs once a week like other direct meat providers do.

I bet you could even video a few of the dishes you make…”Dinner for 4″ including all the prep time, etc. and show what a project it can be to get a great result…thereby demonstrating the value you’re providing. Good customers with money to buy from you will see the value of outsourcing their prep and shopping time.
Single serving samplers might also be really helpful so people can try new things without plunking down $20 each.

20FromNow
10 years ago

I realize not everyone wants to do a food-based business, but I think more people are connecting the dots between poor quality food and poor health and vice verse. Some of us would like to avoid the health care system more than ever before, and putting high quality food into our system is a cornerstone of that effort.

Whalespicy
Whalespicy
10 years ago

Definitely. I work in a large hospital and although it is a great hospital I do not want to be a patient for a chronic issue. We already have plenty of those.

Whalespicy
Whalespicy
10 years ago

Insidious,
I’m in on your service! As I often say, I need all the help I can get. Do you have any idea how well Petes Paleo does?

Agoraculture
Agoraculture
10 years ago

Very apropos episode. I always like John Pugliano’s interviews. Unfortunately, I recently lost my job. I had the good fortune of working with a few listeners and a guest. I am conflicted with the opportunity cost of trying to find a job again that makes six figures versus the benefits of self-employment. My fields of employment have been very unstable in the 15 years I have been working. Ideally, I would like to do something with Agorism, Permaculture (hence, my handle) and food (like other posts here 🙂
About light bulbs, there is a light bulb that has been burning almost continuously for 113 years in a firehouse: http://priceonomics.com/the-mysterious-case-of-the-113-year-old-light-bulb/ There is an almost “20th Century Motor Company” angle to the history of the lightbulb (as in Atlas Shrugged). GE bought the Shelby lightbulb company 100 years ago and squashed the product line. Light bulb makers formed a consortium to regulate the lifespan, quality, price and other factors of light bulbs. Who knew? I just found this out when looking things up for my comment! This article also addresses the decline in quality and planned obsolescence that was discussed in this show. What is the impact of planned obsolescence? The toxic electronic waste is sent to third world nations for processing, causing great damage to individuals and the environment as the refining techniques are very crude.

John Pugliano
10 years ago
Reply to  Agoraculture

Agorculture- opportunity costs of startup are immense. If you don’t have the savings or a working spouse then find a way to get on a payroll. Six fig income is not to be taken lightly. Once you’re employed then kick it in gear. Focus on one thing. You don’t have to save the world. Start building some type of business part time. Find a mentor doing something similar. Work for him for free for awhile. Don’t compete against him compliment his business. Work your way out of the day job.

Jose Garcia
10 years ago

Great show. Thank you both.

John Pugliano
10 years ago
Reply to  Jose Garcia

Hey my friend. Last time I was in dfw I didn’t have time to contact you. I think I’ll be back in late April. I’d like to see your garden and take you to lunch. Always enjoy your comments.

Jose Garcia
10 years ago
Reply to  Jose Garcia

Hello John,

I appreciate your lunch offer. We can have lunch at my house if you wish. By late April the garden should be looking great. This weekend I have been working on expanding it by 250 sq’. I just took a break from sheet mulching 100 sq’ of the 250 for a 3 sisters garden in spring.

Jorge K R
Jorge K R
10 years ago

Spot on the Christmas ornaments. Jack, that is my next business – I currently manufacture cufflinks – encouraged by your entrepreneurial example. We will be making heirloom quality solid silver Xmas ornament. Only a couple of companies in the market – Tiffany’s, and a GmbH. About 20 years ago when I left college I priced the cost of entry – north of 300K in equipment alone ( no marketing, no space, heck no silver) now less than 20K.

Thanks for your inspiration to launch my current businesses, both started for less than the cost of a nice dinner. Both profitable from week one, and currently producing solid middle class incomes.

Thanks. Thanks. Thanks, for all you do.

(The New) Mike Cornwell
Reply to  Jorge K R

That is SUCH an awesome friggin idea. Not going to lie but I’m blown away with how “simple” of an idea that is. I would most definitely buy one. My wife’s family loves buying ornaments as christmas gifts. I could certainly see having heirloom ones.

Kevin
Kevin
10 years ago

Jack the refrigerator your speaking of is most likely a Servel. We have one at our family’s off grid hunting camp. It runs on lp gas has no moving parts so it’s silent! We have had it since the 60’s. It was made in the 30s or 40s thought. Now that’s quality!