Ygolo, are you kidding me, why aren't you in business already?
Actually, I have tried a few things "on the side", albeit somewhat half-heartedly. The most promising idea so far is to start a hedge fund after I get good enough at trading with my own money. If nothing else, I will learn how to trade well, which is a boon in itself. I actually pursue low-risk, home-based, part-time business opportunities on a regular basis. Each time, I get a little more disciplined.
I am also starting to firm-up product ideas for EDA tools. Each time, I have a horribly frustrating time at work with a tool, it provides fodder for what my tools will (and wont) be like. There is a particular tool-suite that I believe will be incredibly hard to beat if I can figure out the algorithms (they are rather tricky). All I need to work on this is my home computer, and a C/C++ compiler. In fact, the speed-up is potentially, so great that I may even use Java (which naturally takes advantage of parallelism).
A pair of my old classmates (both INTJs) created an "incubator" while doing their phd's with 12+ companies involved, and a couple of them did really well. Right now, they are focusing full-time (discontinued their phd's) on a social networking site.
What is your take on requiring 8+ months worth of spending money available before venturing out on your own?
That is the main reason I haven't quit my job. Actually, the advise to inventors in particular is to keep your day job till your first really successful invention.
Maybe one day.
But I just had some neighbor come over and try to sucker me into some multi-level marketing scheme. He told me I could make 4000 a month part time and that other people make 20 to 30000 after being with the company for a few years. Clearly all lies.
Not all network marketing schemes are rip-offs. Many have been around for a while and have actually made millionaires. I think
Amway (now part of
Quixtar) is one such thing. My cousin is actually participating in this.
You have to be careful how you approach selling your products, however. Because pressuring your friends and family for sales can lose your relationships very quickly.
Also, if you sign-up and do nothing with it, of-course you will loose your money. One of the weird things is that most of these things expect you to use the products they are selling (that's how they use the "power of the network"). So if you wouldn't use the products yourself, don't get involved.
However, I have met people who have are close to replacing their salaries, others who do network marketing full-time, and yet another who is a millionaire (through various businesses) who has also participated in many network marketing programs (not all are equally beneficial).
You have to look at it as a (non-traditional) sales job. Selling products gives you commissions. "Training employees" (a.k.a. creating a successful "down-line") in effect gives you a promotion in their organization.
Calculate your cost of membership vs. the commissions you expect (not what they tell you to expect). If those make sense, it may be a legit program. Companies use this method to sell products because it is a lot cheaper than growing a sales force internally. They get a lot of sales to people who end-up never using their product.
How many people buy and never use the George Foreman Grill, or exercise equipment, or even book-club or magazine subscriptions, and never use them?
It's the same sort of thing. It may be a rip-off, but often "scam" or "fraud" is inaccurate. jmo.
is that why you operate on a gray scale?
