Comments on: I can make money. Now, how do I make LOTS of money http://www.debtkid.com/i-can-make-money-now-how-do-i-make-lots-of-money Debt Kid - I'm Getting Out of Debt Sat, 21 Nov 2009 02:42:10 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Greg C. http://www.debtkid.com/i-can-make-money-now-how-do-i-make-lots-of-money/comment-page-1#comment-10348 Greg C. Sat, 02 Aug 2008 05:58:27 +0000 http://www.debtkid.com/?p=605#comment-10348 You might considering outsourcing any tasks that aren't worth your time to someone who would appreciate the work. This could include global arbitrage in the way of personal assistant type jobs or just any task that is necessary for your businesses to make money but don't require your personal attention-get specialists for parts of the whole. You know that focusing on your business is going to bring in more money than you could probably get from any dayjob based on your traditional employment prospects. At least I THINK you know that. Sometimes maybe you aren't so confident. I think that is common for those of us who run our thing but don't exactly make a boatload of money. I think you breakthrough that ceiling by resolving that you will succeed with what you are doing and then do it. A thought/question regarding your business structure and wages from self-employment. Depending on your business structure you may be self-employed or you may be an employee/officer of a company you happen to own. I think in some circumstances the IRS pretty much REQUIRES ( or maybe it's just a red flag if you don't) the owner/employee to draw a salary. Not sure your situation there. Though having a w2 job and having other employers do a lot of the business work might factor into an exception for that- idk. You might considering outsourcing any tasks that aren’t worth your time to someone who would appreciate the work. This could include global arbitrage in the way of personal assistant type jobs or just any task that is necessary for your businesses to make money but don’t require your personal attention-get specialists for parts of the whole.

You know that focusing on your business is going to bring in more money than you could probably get from any dayjob based on your traditional employment prospects.

At least I THINK you know that. Sometimes maybe you aren’t so confident. I think that is common for those of us who run our thing but don’t exactly make a boatload of money. I think you breakthrough that ceiling by resolving that you will succeed with what you are doing and then do it.

A thought/question regarding your business structure and wages from self-employment. Depending on your business structure you may be self-employed or you may be an employee/officer of a company you happen to own. I think in some circumstances the IRS pretty much REQUIRES ( or maybe it’s just a red flag if you don’t) the owner/employee to draw a salary. Not sure your situation there. Though having a w2 job and having other employers do a lot of the business work might factor into an exception for that- idk.

]]> By: Griffin http://www.debtkid.com/i-can-make-money-now-how-do-i-make-lots-of-money/comment-page-1#comment-10317 Griffin Wed, 30 Jul 2008 22:47:57 +0000 http://www.debtkid.com/?p=605#comment-10317 Well if Seattle doesn't work out, you could always try the Olympia area. Just make sure you can get an apartment before finalizing a move. My GF and I had to leave the greater SF area after looking for an apartment for about a year because she has bad credit. :'( We were spending like 2-3x the average rent by being at a hotel, but most apartment managers and private parties don't want to take a risk. It will probably be easier for you since you've already done your BK though. But the upside is that many places are cheaper than Seattle (depends on your current rent though). Well if Seattle doesn’t work out, you could always try the Olympia area. Just make sure you can get an apartment before finalizing a move. My GF and I had to leave the greater SF area after looking for an apartment for about a year because she has bad credit. :’( We were spending like 2-3x the average rent by being at a hotel, but most apartment managers and private parties don’t want to take a risk. It will probably be easier for you since you’ve already done your BK though.

But the upside is that many places are cheaper than Seattle (depends on your current rent though).

]]> By: Debt Free Hispanic http://www.debtkid.com/i-can-make-money-now-how-do-i-make-lots-of-money/comment-page-1#comment-10311 Debt Free Hispanic Wed, 30 Jul 2008 16:21:08 +0000 http://www.debtkid.com/?p=605#comment-10311 Just came across your blog. 300K is a lot of debt. I see your bringing in some good income. I will follow along. - Debt Free Hispanic Just came across your blog. 300K is a lot of debt. I see your bringing in some good income. I will follow along. – Debt Free Hispanic

]]> By: Benjamin http://www.debtkid.com/i-can-make-money-now-how-do-i-make-lots-of-money/comment-page-1#comment-10309 Benjamin Wed, 30 Jul 2008 02:21:14 +0000 http://www.debtkid.com/?p=605#comment-10309 Debtkid, You have the right idea- to create separate income models that produce each month. Now, the trick is how to hire people to replace you to manage and maintain these projects so that you can focus on overseeing the business as well as creating more income producing ideas. Leverage is key. Did you know that the KISS brand has over 3,000 licenses? That is exactly what I mean by leverage! Debtkid,

You have the right idea- to create separate income models that produce each month. Now, the trick is how to hire people to replace you to manage and maintain these projects so that you can focus on overseeing the business as well as creating more income producing ideas. Leverage is key. Did you know that the KISS brand has over 3,000 licenses? That is exactly what I mean by leverage!

]]> By: A. Friend http://www.debtkid.com/i-can-make-money-now-how-do-i-make-lots-of-money/comment-page-1#comment-10302 A. Friend Tue, 29 Jul 2008 17:31:01 +0000 http://www.debtkid.com/?p=605#comment-10302 DebtKid, my man. You say: "All 4 could bring in much more [than $8500] if I only was able to clone myself and work 24 hours a day." And then you talk about getting a W-2 job. How much money is that job going to bring in, and how much of your time will it consume? Will you be able to run and grow your business (and the rest of your life) without that time? Cheers, Alan. DebtKid, my man.

You say: “All 4 could bring in much more [than $8500] if I only was able to clone myself and work 24 hours a day.” And then you talk about getting a W-2 job. How much money is that job going to bring in, and how much of your time will it consume? Will you be able to run and grow your business (and the rest of your life) without that time?

Cheers,

Alan.

]]> By: the Wolf http://www.debtkid.com/i-can-make-money-now-how-do-i-make-lots-of-money/comment-page-1#comment-10301 the Wolf Tue, 29 Jul 2008 16:52:03 +0000 http://www.debtkid.com/?p=605#comment-10301 Be very careful about changes to your business. Didn't you say you (will/have?) a federal tax lien against your business assets? Fed tax collections are very precise so I understand what you presume to be delay on their part. I hope you have an attorney; you're going to need one. Be very careful about changes to your business. Didn’t you say you (will/have?) a federal tax lien against your business assets? Fed tax collections are very precise so I understand what you presume to be delay on their part. I hope you have an attorney; you’re going to need one.

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