Entrepreurship in UK with 200,000 GBP

Last night my father offered me 200,000 GBP to get an entrepreneurship Visa at UK and start my own business. I am a prospective monkey but I want to explore this (entrepreneurship) option. What kind of small business can be started in UK with 200,000 GBP? I know this question is very very very vague it depends on location, type of business and all that. But can some one help me get a feel of it. Like is it possible to start a small restaurant in London with 200,000 GBP? What other business should I look into, also any one can suggest any other resources I should use. Any and all advice is welcome.

I have stayed in USA and Singapore but never visited UK.

 
happypantsmcgee:
Why don't you, I don't know, actually go there before you start thinking about starting a business.

that might be a good first step. That would maybe allow him to see what opportunities there are for him to exploit by creating a business.

[quote=patternfinder]Of course, I would just buy in scales. [/quote] See my WSO Blog | my AMA
 

I will go to UK , get in touch with some agencies/consultancies as well as few contacts. But this is just to get a preliminary idea. I have the option to either go to a university (top20) and than follow the IB dream or to just start business right away.

 
financialmanagement786:
I will go to UK , get in touch with some agencies/consultancies as well as few contacts. But this is just to get a preliminary idea. I have the option to either go to a university (top20) and than follow the IB dream or to just start business right away.

Why are the two mutually exclusive? You obviously have no idea what type of business to start and I imagine that you have no idea how to run a business.. Why don't you go to your top 20 school, study business and always keep an entrepreneurial eye open and if a legitimate business opportunity should arise jump at it.

In my opinion, which really doesn't matter, you are just setting yourself up to lose your dad's money if you force a business idea.

[quote=patternfinder]Of course, I would just buy in scales. [/quote] See my WSO Blog | my AMA
 
Simple As...:
financialmanagement786:
I will go to UK , get in touch with some agencies/consultancies as well as few contacts. But this is just to get a preliminary idea. I have the option to either go to a university (top20) and than follow the IB dream or to just start business right away.

Why are the two mutually exclusive? You obviously have no idea what type of business to start and I imagine that you have no idea how to run a business.. Why don't you go to your top 20 school, study business and always keep an entrepreneurial eye open and if a legitimate business opportunity should arise jump at it.

In my opinion, which really doesn't matter, you are just setting yourself up to lose your dad's money if you force a business idea.

Thinking about two or more mutually exclusive ideas about the future is called strategic thinking, only if you have studied more seriously in college. Also I have 8 years of experience of setting up and running family business, so your other prediction is also as wrong as your knowledge. If you cannot add a fruitfully to the discussion please waste other people time not mine.

 
Best Response
financialmanagement786:
Simple As...:
financialmanagement786:
I will go to UK , get in touch with some agencies/consultancies as well as few contacts. But this is just to get a preliminary idea. I have the option to either go to a university (top20) and than follow the IB dream or to just start business right away.

Why are the two mutually exclusive? You obviously have no idea what type of business to start and I imagine that you have no idea how to run a business.. Why don't you go to your top 20 school, study business and always keep an entrepreneurial eye open and if a legitimate business opportunity should arise jump at it.

In my opinion, which really doesn't matter, you are just setting yourself up to lose your dad's money if you force a business idea.

Thinking about two or more mutually exclusive ideas about the future is called strategic thinking, only if you have studied more seriously in college. Also I have 8 years of experience of setting up and running family business, so your other prediction is also as wrong as your knowledge. If you cannot add a fruitfully to the discussion please waste other people time not mine.

Go to college kid
If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

lol I am 27 years old with 8 years of management experience , I doubt I qualify for being a kid. I hope I did :)

I know the question is very vague and need to hunt for ideas myself. But all I am asking is a 200k GBP too little of an investment? I can speak for India, where you could probably start a 50 tons per day Cement Plant with that.

 
financialmanagement786:
lol I am 27 years old with 8 years of management experience , I doubt I qualify for being a kid. I hope I did :)

I know the question is very vague and need to hunt for ideas myself. But all I am asking is a 200k GBP too little of an investment? I can speak for India, where you could probably start a 50 tons per day Cement Plant with that.

if you had been running a business for 8 years than you would probably know that you need an idea and business plan before you can know how much of an investment you need.

[quote=patternfinder]Of course, I would just buy in scales. [/quote] See my WSO Blog | my AMA
 
Simple As...:
financialmanagement786:
lol I am 27 years old with 8 years of management experience , I doubt I qualify for being a kid. I hope I did :)

I know the question is very vague and need to hunt for ideas myself. But all I am asking is a 200k GBP too little of an investment? I can speak for India, where you could probably start a 50 tons per day Cement Plant with that.

if you had been running a business for 8 years than you would probably know that you need an idea and business plan before you can know how much of an investment you need.

I do know the process of setting up a business. I will be going to UK within 2 months to look for contacts, friends, ideas etc. and than will start the process. All I want to know is as per UK standards is 200k too low. Also I was just too curious and impatient to know more about businesses in UK.

 

Where do you have experience with a business? Just because you have business experience in one place doesn't mean you'll be successful with it another.

On top of that, while you gain experience with a family business, you usually also have your family there to help you out. It's different being 500, 1,000, 3,000 miles away.

And, yes, it is possible to start as an IB analyst at 30, but it's not a well-worn path. There are a shitload of obstacles to overcome. What school are you planning on going to? If it's a target or semi-target that's good, but it makes it even harder if you're at a nontarget. Every thing that veers away from the norm on your resume is another thing to ding you.

Just some ideas from a student.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 
D M:
Where do you have experience with a business? Just because you have business experience in one place doesn't mean you'll be successful with it another.

On top of that, while you gain experience with a family business, you usually also have your family there to help you out. It's different being 500, 1,000, 3,000 miles away.

And, yes, it is possible to start as an IB analyst at 30, but it's not a well-worn path. There are a shitload of obstacles to overcome. What school are you planning on going to? If it's a target or semi-target that's good, but it makes it even harder if you're at a nontarget. Every thing that veers away from the norm on your resume is another thing to ding you.

Just some ideas from a student.

I have business experience in India and USA in a public Ltd. Cement Company. I have been trained hard under my father (who has 35 years experience at senior positions and than he retired after a 12 year stint as the CEO of the second largest private palm oil refinery in the world) but nothing guarantees success.

Also I am looking at Manchaster, Edinburgh and York for schools, all are semi target.

Your ideas are all good. Thanx.

 
financialmanagement786:
Read the thread carefully, most people there are stories around WSO of 30+ people breaking in.

i never said it wasn't possible, my exact words were good luck... yes people that are 30+ have broken in and many of those are with an MBA an an associate.

I wish you all the luck though, truthfully.

[quote=patternfinder]Of course, I would just buy in scales. [/quote] See my WSO Blog | my AMA
 
Simple As...:
financialmanagement786:
Read the thread carefully, most people there are stories around WSO of 30+ people breaking in.

i never said it wasn't possible, my exact words were good luck... yes people that are 30+ have broken in and many of those are with an MBA an an associate.

I wish you all the luck though, truthfully.

Thanx for the luck. I know it will be harder to break in as compared to 22 year old, that is why I am also exploring other possibilities. Probably do 1 year of entrepreneurship school in UK while looking for ideas and contacts and start a start up with 200k.

Also when you said that I am setting my self to fail that annoyed me a little, but all is good. :)

 

Yes, but once again those are the exception not the norm. It's possible, but I wouldn't bank on it.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 
D M:
Yes, but once again those are the exception not the norm. It's possible, but I wouldn't bank on it.

Agreed. All I can do is work hard, network hard and get good qualification and hope for the best. And worse case scenario have a plan B. That is why I am also looking into entrepreneurship and exploring other ideas.

 

Of course it's possible to start a business in the UK with GBP 200,000.

The real question is: What kind of business could YOU run successfully? You mentioned something about the feasibility of a restaurant with 200k start up capital. What's your knowledge of F&B like? Are you thinking about opening a cafe/ deli/ bar & grill or maybe a franchise of some sort? The are varying degrees of difficulty involved in each of these.

If your experience is limited to the cement industry, I would be inclined to recommend that you stick to what you know. I can't comment on whether 200k is enough for that type of enterprise as I have no personal experience in the field.

If I were you, I would spend some time looking at existing businesses for sale (maybe those involving cement production/ sales) rather than thinking about starting from scratch. There tend to be great deals in the small business space, as many sellers are eager to get out (for retirement or personal reasons) and have no succession plans in place. I've seen quite a few deals go through at 2 or 3x EBITDA... in some cases, the owner's will stay on for a month to show you the ropes and even finance part of the sale to you if you don't have enough cash.

 
SuperMoose:
Of course it's possible to start a business in the UK with GBP 200,000.

The real question is: What kind of business could YOU run successfully? You mentioned something about the feasibility of a restaurant with 200k start up capital. What's your knowledge of F&B like? Are you thinking about opening a cafe/ deli/ bar & grill or maybe a franchise of some sort? The are varying degrees of difficulty involved in each of these.

If your experience is limited to the cement industry, I would be inclined to recommend that you stick to what you know. I can't comment on whether 200k is enough for that type of enterprise as I have no personal experience in the field.

If I were you, I would spend some time looking at existing businesses for sale (maybe those involving cement production/ sales) rather than thinking about starting from scratch. There tend to be great deals in the small business space, as many sellers are eager to get out (for retirement or personal reasons) and have no succession plans in place. I've seen quite a few deals go through at 2 or 3x EBITDA... in some cases, the owner's will stay on for a month to show you the ropes and even finance part of the sale to you if you don't have enough cash.

Good advice, I have just received the offer for seed corn last night. Right now I am planning to go to UK, meet consultants, friends and probably do a 6 months course at naunce (entrepreneurship development organization in UK) for the purpose of idea mining and networking.

 
SuperMoose:
Of course it's possible to start a business in the UK with GBP 200,000.

The real question is: What kind of business could YOU run successfully? You mentioned something about the feasibility of a restaurant with 200k start up capital. What's your knowledge of F&B like? Are you thinking about opening a cafe/ deli/ bar & grill or maybe a franchise of some sort? The are varying degrees of difficulty involved in each of these.

If your experience is limited to the cement industry, I would be inclined to recommend that you stick to what you know. I can't comment on whether 200k is enough for that type of enterprise as I have no personal experience in the field.

If I were you, I would spend some time looking at existing businesses for sale (maybe those involving cement production/ sales) rather than thinking about starting from scratch. There tend to be great deals in the small business space, as many sellers are eager to get out (for retirement or personal reasons) and have no succession plans in place. I've seen quite a few deals go through at 2 or 3x EBITDA... in some cases, the owner's will stay on for a month to show you the ropes and even finance part of the sale to you if you don't have enough cash.

Setting up a cement manufacturing factory is a multi million dollar commitment. I am too poor for that right now.

I have no experience in food industry but certainly would be able to hire people who have the experience. Also entrepreneurship (as people say) is about taking up totally new challenges.

I have come up with 2 ideas till now but nothing concrete till I do not actually visit UK.

1) Sky Diving Company ( negotiate bulk contracts with companies) 2) Export handmade and hand painted products from India and find a niche market for it

Must have 7-8 ideas before visiting UK.

Do you any agency/consultancy/organization in UK which assists young entrepreneurs?

 
financialmanagement786:
Setting up a cement manufacturing factory is a multi million dollar commitment. I am too poor for that right now.

I have no experience in food industry but certainly would be able to hire people who have the experience. Also entrepreneurship (as people say) is about taking up totally new challenges.

I have come up with 2 ideas till now but nothing concrete till I do not actually visit UK.

1) Sky Diving Company ( negotiate bulk contracts with companies) 2) Export handmade and hand painted products from India and find a niche market for it

Must have 7-8 ideas before visiting UK.

Do you any agency/consultancy/organization in UK which assists young entrepreneurs?

Well, cement manufacturing may be out of the question for now, but what about cement wholesaling or something else related to construction? I just think sticking to what you know would greatly increase your chances of success.

Take for example the skydiving idea you've just mentioned.

How are you going to acquire an aircraft? You can't just buy an aircraft because it would eat up all of your cash. Even if you could purchase an old one for cheap, your company wouldn't have the relevant licenses to operate it commercially (it wouldn't be practical for you to try to obtain the licenses either, trust me).

Ok, so you'll dry lease/block charter an aircraft that's already been properly outfitted for skydiving (these shits usually have jump interiors and in-flight doors). Let's fantasize for a moment and say that some management company agrees to ACMI lease (comes with aircraft- crew- maintenance- insurance) their pre-modified King Air or Cessna and they're not trying to fuck you over every chance they get. Let's also say you get hangar/office space in the deal.

You're margins are already thinner than Lindsay Lohan on crack. Remember, you still have to pay for FUEL, liability insurance, equipment (cameras, parachutes, computers, an automobile- you'll have to drive these fuckers back to the hangar from the dropzone...), parachutists, assistants, expenses, etc.

Even if you pre-negotiate agreements with companies virtually guaranteeing you business every month, you’re limited in the amount of money you can make because your pilots have 8 or 9 hours of duty limit a day (I don't think you can work those assholes 5 days a week for a full month either) and your plane will be down for maintenance quite often.

And this is only the beginning of your headaches. People who start these types of businesses tend to have significant industry knowledge in my experience. I'm not saying that it can't be done, only that you would be better off sticking to what you know. You can go with option 2 because it's relatively simple, but it's unlikely to get you baller status for the babes. Unless you're passionate about paintings and artsy handmade stuffs, why would you go into this?

Buy an existing business with a history of positive cash flow and save yourself the hassle my friend. I could be wrong, but it sounds like you don't have any particular knowledge/ skillset/ passion/ competitive advantage that justifies starting from scratch.

 
SuperMoose:
The real question is: What kind of business could YOU run successfully?

If I were you, I would spend some time looking at existing businesses for sale (maybe those involving cement production/ sales) rather than thinking about starting from scratch.

THIS
Get busy living
 
trazer985:
With 200k, I'd have a crazy awesome budget to make my website heard. Wish I had a dad like yours. Not interested in buying in are you? Genuine offer btw (I'm based in the UK).

T

I ready to buy a business but I do not want my first business to be a website. Something which is more tangible (if I can say so). May be after 3-4 years when I am ready to buy a second business.

 
financialmanagement786:
trazer985:
With 200k, I'd have a crazy awesome budget to make my website heard. Wish I had a dad like yours. Not interested in buying in are you? Genuine offer btw (I'm based in the UK).

T

I ready to buy a business but I do not want my first business to be a website. Something which is more tangible (if I can say so). May be after 3-4 years when I am ready to buy a second business.

Pity, already got one backer, and could use someone with your work ethic on board. Best of luck.

 
UFOinsider:
whatwhatwhat:
holy shit lol
ditto

lol yesterday I was planning that I will give CFA, do undergrad, go to top-5 schools for masters etc. But after last nights surprise offer entrepreneurship spirit kicking in :D.

Disclaimer : No offence to bankers, they are smart people probably smarter than me

 

While I'm sure you have management experience and can run a company, it's always better to start a company in a general area that you have experience in, whether it's personally or professionally. The difficulty with a skydiving company is there are all sorts of legal issues that must be overcome and the costs are extremely high. If you don't open a place where you've already got contacts and people coming with you to do this that you have a relationship, it adds all sorts of variables that increase risk.

But as you said, you're still mining ideas. I also wouldn't rule out starting a website, either. It's a great, cheap way to reach a very large audience.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 
D M:
While I'm sure you have management experience and can run a company, it's always better to start a company in a general area that you have experience in, whether it's personally or professionally. The difficulty with a skydiving company is there are all sorts of legal issues that must be overcome and the costs are extremely high. If you don't open a place where you've already got contacts and people coming with you to do this that you have a relationship, it adds all sorts of variables that increase risk.

But as you said, you're still mining ideas. I also wouldn't rule out starting a website, either. It's a great, cheap way to reach a very large audience.

Agree on most points. Also I know what you mean by sticking to the area of expertise. But I want to challenge myself and do new things and face challenges which hopefully are bigger than me, and if I loose , I loose. I do not want to start a website or buy a website because I am interested and my strengths lies in outdoor stuff and managing people and some times shouting at them lol

Legal issues will be dealt by the lawyers, also before jumping everyone has to sign a paper which basically says that if they die its NOT the companies liability. But following safety precautions it is not risky at all.

But I definitely "feel" what you are saying. See if I wanted to do something safe, I would have probably bought 2 franchise with a proven success rate and stayed in India. But I want to live my dream, go wild and do variety of things.

Hopefully I keep mining for ideas till I get that 1 big idea. ;)

 

I think you'll find that operating a skydiving company in England is not quite the same as doing it in India for a variety of reasons, some of which were mentioned in my previous post. I'll leave it at that.

That is the beauty of the challenge, and also most of your arguments including hiring a plane for year round 12 hrs/ day - have fundamentally wrong assumptions (read the previous post)

haha doesn't everyone want to be a baller? You can rationalize anything, but working on Project Handicraft 7 days a week for the next few years probably wouldn't sound like a whole lot of fun for most 27 year olds. That's all I'm saying.

No not everyone wants to be a baller, some people want to be just themselves. Any business which has a high growth opportunity is fun.

Ok lets just move on now to other ideas if any one can suggest .

 
financialmanagement786:
I think you'll find that operating a skydiving company in England is not quite the same as doing it in India for a variety of reasons, some of which were mentioned in my previous post. I'll leave it at that.

That is the beauty of the challenge, and also most of your arguments including hiring a plane for year round 12 hrs/ day - have fundamentally wrong assumptions (read the previous post)

haha doesn't everyone want to be a baller? You can rationalize anything, but working on Project Handicraft 7 days a week for the next few years probably wouldn't sound like a whole lot of fun for most 27 year olds. That's all I'm saying.

No not everyone wants to be a baller, some people want to be just themselves. Any business which has a high growth opportunity is fun.

Ok lets just move on now to other ideas if any one can suggest .

Hey financialmanagement786,

Concerning the cement business, I wouldn't enter the UK unless you find a niche market in a shit hole somewhere where there is no ready-mix concrete plant nearby. (if you know any upcoming government projects such as bridges or roads, you can try to set shop there but its usually hard to get the information on time).

Cement prices tumbled all over Europe due to the crisis since 08' and most plants are running in overcapacity. Environmental regulations in Europe are tougher than in the US and health and safety is quite important too. I think 200K to start a ready-mix plant in the UK is too small of a budget unfortunately. I would indeed go for the two other options that you proposed, however if you really like the cement industry, If I where you I would go to an emerging country and setup two second-hand dirty-ass ready-mix plant for 80k each, (choosing a politically stable country with a growing economy in Africa for example) but its definitely a hard life-choice.

 
16rl:
financialmanagement786:
I think you'll find that operating a skydiving company in England is not quite the same as doing it in India for a variety of reasons, some of which were mentioned in my previous post. I'll leave it at that.

That is the beauty of the challenge, and also most of your arguments including hiring a plane for year round 12 hrs/ day - have fundamentally wrong assumptions (read the previous post)

haha doesn't everyone want to be a baller? You can rationalize anything, but working on Project Handicraft 7 days a week for the next few years probably wouldn't sound like a whole lot of fun for most 27 year olds. That's all I'm saying.

No not everyone wants to be a baller, some people want to be just themselves. Any business which has a high growth opportunity is fun.

Ok lets just move on now to other ideas if any one can suggest .

Hey financialmanagement786,

Concerning the cement business, I wouldn't enter the UK unless you find a niche market in a shit hole somewhere where there is no ready-mix concrete plant nearby. (if you know any upcoming government projects such as bridges or roads, you can try to set shop there but its usually hard to get the information on time).

Cement prices tumbled all over Europe due to the crisis since 08' and most plants are running in overcapacity. Environmental regulations in Europe are tougher than in the US and health and safety is quite important too. I think 200K to start a ready-mix plant in the UK is too small of a budget unfortunately. I would indeed go for the two other options that you proposed, however if you really like the cement industry, If I where you I would go to an emerging country and setup two second-hand dirty-ass ready-mix plant for 80k each, (choosing a politically stable country with a growing economy in Africa for example) but its definitely a hard life-choice.

Hey thanx for your reply, but that is what I have been saying through out the thread that I dont want to enter the cement. It is for the Big Guys and for under developed or developing countries, also 200 K is way too small to even think about setting up a plant. Although you can get 400k loan on an investment of 200 k but that is also very small.

Also our plant in India is also been taken over by a bigger player for an attractive price along with the limestone mine. I agree with you 100%.

That is why I am looking for other ideas.

Through out the thread everyone suggested me to stay with Cement but I know it is NOT feasible that too in an already developed country.

I have said exactly the same thing what you said. Any investment below 20 mill is NOT feasible for Cement because larger the plant cheaper it is to produce cement, and than buying a lime stone mine near the plant is another HUGE investment.

Also the "niche market" I was talking about was for handicrafts and hand made stuff NOT Cement.

 

If I were after money, I would have stayed in India. But I have stayed in USA, Malaysia, Thailand, India for more than a year. I just want to keep travelling, do interesting and challenging and stimulating things, experience new cultures, learn a new language and so on while earning money.

India is great country to make money but too bureaucratic, too slow and have to take permissions from various ministries to do the smallest thing. I like the website you suggested. Seems very interesting. Thank you.

 
financialmanagement786:
If I were after money, I would have stayed in India. But I have stayed in USA, Malaysia, Thailand, India for more than a year. I just want to keep travelling, do interesting and challenging and stimulating things, experience new cultures, learn a new language and so on while earning money.
Give yourself a deadline - if you're not making money by then, go to school. Just out of curiosity, what have you been doing for the last decade or so? If you worked in the family business, why not just open your own branch?
Get busy living
 
UFOinsider:
financialmanagement786:
If I were after money, I would have stayed in India. But I have stayed in USA, Malaysia, Thailand, India for more than a year. I just want to keep travelling, do interesting and challenging and stimulating things, experience new cultures, learn a new language and so on while earning money.
Give yourself a deadline - if you're not making money by then, go to school. Just out of curiosity, what have you been doing for the last decade or so? If you worked in the family business, why not just open your own branch?

Right after when I graduated from high school , I started working a public limited cement company whose CEO and MD is my father.

Now he wants to retire and basically wants to hand me some money and asked me to fuck off (in more respectful words of course) and asked me to do whatever I want to do with my life.

So now at the age of 28 (in a month) years, I have some money in my hand (anywhere from 200,000 to 400,000 GBP depending on what I wanna do). And I can do any thing at all.

This puts me in a tough spot because there are so many things I can do go back to school, study philosophy or aspire for IB or write and publish my books or start my own business or just spend a year travelling and so on. Makes me feel like a 18 year old again but with some money and experience.

I cannot open a new branch because we have just sold (takeover) the company with its assets.

Also in Cement production sector is only for centi- million and billion dollar companies , NOT someone like me.

I dunno want to go to USA because I have already lived there for 5-6 years (middle schoo, high school and business purpose) and want to something new.

The deadline is 2 years, if in 2 years I am NOT able to establish a business and hire 5 or more UK citizens my entrepreneurship visa will revoked. But I feel optimistic :)

 

Lol, do you know fishing at all, fresh water bass? Have a lure I made thinking out selling rights to it, but I really want to open my own plant. :( I'm in data collection atm only thing that come close to catch rate is Mepps. All ready can beat Rappala and Rat-L-Trap at lakes in Indiana; the real test will be next summer up in Wisconsin(will be fun to see how it does on muskies/pike ).

Any way off topic....

Do WSO users think it would be better to manufacture and distribute my self or sell to a company? If I go pitch how secret on the data should I be? Should I have them file NDA?

 
blastoise:
Lol, do you know fishing at all, fresh water bass? Have a lure I made thinking out selling rights to it, but I really want to open my own plant. :( I'm in data collection atm only thing that come close to catch rate is Mepps. All ready can beat Rappala and Rat-L-Trap at lakes in Indiana; the real test will be next summer up in Wisconsin(will be fun to see how it does on muskies/pike ).

Any way off topic....

Do WSO users think it would be better to manufacture and distribute my self or sell to a company? If I go pitch how secret on the data should I be? Should I have them file NDA?

^ I don't know WHAT you're smoking, but I'll try it. If you're ever in the NYC metro area, hit me up, I'm a huge fan of fishing. If you fly fish, even better.....
Get busy living
 
UFOinsider:
blastoise:
Lol, do you know fishing at all, fresh water bass? Have a lure I made thinking out selling rights to it, but I really want to open my own plant. :( I'm in data collection atm only thing that come close to catch rate is Mepps. All ready can beat Rappala and Rat-L-Trap at lakes in Indiana; the real test will be next summer up in Wisconsin(will be fun to see how it does on muskies/pike ).

Any way off topic....

Do WSO users think it would be better to manufacture and distribute my self or sell to a company? If I go pitch how secret on the data should I be? Should I have them file NDA?

^ I don't know WHAT you're smoking, but I'll try it. If you're ever in the NYC metro area, hit me up, I'm a huge fan of fishing. If you fly fish, even better.....

As long as it is soft , potent and fat, I will join you guys!!

 
blastoise:
Lol, do you know fishing at all, fresh water bass? Have a lure I made thinking out selling rights to it, but I really want to open my own plant. :( I'm in data collection atm only thing that come close to catch rate is Mepps. All ready can beat Rappala and Rat-L-Trap at lakes in Indiana; the real test will be next summer up in Wisconsin(will be fun to see how it does on muskies/pike ).

Any way off topic....

Do WSO users think it would be better to manufacture and distribute my self or sell to a company? If I go pitch how secret on the data should I be? Should I have them file NDA?

What lake(s) in Indiana?

[quote=patternfinder]Of course, I would just buy in scales. [/quote] See my WSO Blog | my AMA
 
blastoise:
come at me brah

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

lmfao, good troll is good

(fuck your lure, mines are better)

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 
financialmanagement786:
D M:
lmfao, good troll is good

(fuck your lure, mines are better)

Agreed. He is obvious troll.

One of the best, if not THE best. He's serious about the fishing though, I've seen a bunch of other posts where it's mentioned. Unless those were coordinated trolling.....in which case, he gets troll of the year award.
Get busy living
 

how about you give the 200,000 pounds to me. i go to a top private college in the us with it and then i will make you lots of money :)

on a serious note. i am from india too, ill be studying for an economics degree in the uk this september onwards. if you ever get around to starting a business, i'd love to work for you as an intern! if this sounds good to you send me a PM!

 
firebrood:
how about you give the 200,000 pounds to me. i go to a top private college in the us with it and then i will make you lots of money :)

on a serious note. i am from india too, ill be studying for an economics degree in the uk this september onwards. if you ever get around to starting a business, i'd love to work for you as an intern! if this sounds good to you send me a PM!

Message me after your first year is over at [email protected] , we may be able to work out an arrangement.

 

Ok, I'll make you a deal.

This week I will go fishing. If I catch a fish over 16 inches and can prove it was me, you have to give me silver bannanas. DM, UFO and Finance

Will that show you I'm a good dead serious and my lures beat the shit out of Rappala and Rat -L- Trap.....

I will have a piece of paper that says Blastoise WSO.

Y/N?

hit the bid.

 
blastoise:
Ok, I'll make you a deal.

This week I will go fishing. If I catch a fish over 16 inches and can prove it was me, you have to give me silver bannanas. DM, UFO and Finance

Will that show you I'm a good dead serious and my lures beat the shit out of Rappala and Rat -L- Trap.....

I will have a piece of paper that says Blastoise WSO.

Y/N?

hit the bid.

We believe that you have something do with fishes and lakes etc , also you are serious. If I could have advised you, I would have advised you. The thing is you weird making comments on the entire UK population which which makes you look like a troll.

 
financialmanagement786:
blastoise:
Ok, I'll make you a deal.

This week I will go fishing. If I catch a fish over 16 inches and can prove it was me, you have to give me silver bannanas. DM, UFO and Finance

Will that show you I'm a good dead serious and my lures beat the shit out of Rappala and Rat -L- Trap.....

I will have a piece of paper that says Blastoise WSO.

Y/N?

hit the bid.

We believe that you have something do with fishes and lakes etc , also you are serious. If I could have advised you, I would have advised you. The thing is you weird making comments on the entire UK population which which makes you look like a troll.

They do have bad teeth....

http://www.telegraph.co.uk/comment/columnists/alicethomson/3553839/Bad-…

 
financialmanagement786:
blastoise:
You know you have bad teeth when a UK website says bad teeth is a epidemic

Where does it say bad breath?

Where did I say it say bad breath?

It does say they bad teeth 6 times though!

 

lmao don't feed the troll finman, though his lure idea may be legit

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 
financialmanagement786:
blastoise:
Ok, I'll make you a deal.

This week I will go fishing. If I catch a fish over 16 inches and can prove it was me, you have to give me silver bannanas. DM, UFO and Finance

Will that show you I'm a good dead serious and my lures beat the shit out of Rappala and Rat -L- Trap.....

I will have a piece of paper that says Blastoise WSO.

Y/N?

hit the bid.

We believe that you have something do with fishes and lakes etc , also you are serious. If I could have advised you, I would have advised you. The thing is you weird making comments on the entire UK population which which makes you look like a troll.

....but everyone I've ever met from the UK had fucked up teeth? It's not a stereotype if it's true. I'm thinking Keira Knightly's biggest advantage is a mouthful of straigh teeth that American audiences like.....YEAHHH, I SAID IT, WHAT YOU GOING TO DO? [quote=financialmanagement786]oh that was meant for ufo
Get busy living
 
UFOinsider][quote=financialmanagement786:
blastoise:
Ok, I'll make you a deal.

This week I will go fishing. If I catch a fish over 16 inches and can prove it was me, you have to give me silver bannanas. DM, UFO and Finance

Will that show you I'm a good dead serious and my lures beat the shit out of Rappala and Rat -L- Trap.....

I will have a piece of paper that says Blastoise WSO.

Y/N?

hit the bid.

We believe that you have something do with fishes and lakes etc , also you are serious. If I could have advised you, I would have advised you. The thing is you weird making comments on the entire UK population which which makes you look like a troll.

....but everyone I've ever met from the UK had fucked up teeth? It's not a stereotype if it's true. I'm thinking Keira Knightly's biggest advantage is a mouthful of straigh teeth that American audiences like.....YEAHHH, I SAID IT, WHAT YOU GOING TO DO? [quote=financialmanagement786]oh that was meant for ufo
 

My friend, I will die for your position. Entrepreneurship is one of the most fundamental things that provide employment, and actual GDP and benefits to society.

Instead of schooling, you should've look into finding good entrepreneurial mentors. Ideas a are a dime a dozen, maybe you can look learn some PE skills for starter to think like the bigger investors, then you'll get an idea what to start, and to scale.

Anyway, there are plenty of ideas out there for startup. I personally have hundreds and I'm not even smart. You can even start a TV show call who can run a 200k startup in UK. (hey that's entrepreneurial) You're in good shape man, and this financial times, it's one of the best time to buy in before the ball start rolling again. PM me if you want inspiration.

 
alextakashi:
My friend, I will die for your position. Entrepreneurship is one of the most fundamental things that provide employment, and actual GDP and benefits to society.

Instead of schooling, you should've look into finding good entrepreneurial mentors. Ideas a are a dime a dozen, maybe you can look learn some PE skills for starter to think like the bigger investors, then you'll get an idea what to start, and to scale.

Anyway, there are plenty of ideas out there for startup. I personally have hundreds and I'm not even smart. You can even start a TV show call who can run a 200k startup in UK. (hey that's entrepreneurial) You're in good shape man, and this financial times, it's one of the best time to buy in before the ball start rolling again. PM me if you want inspiration.

Thank you for your input. You know how we say entrepreneurship is a career in seeking risk and reward. Since this will be my first venture and I do not hold a portfolio, if one business fails I do not have another to fall back on. And 9/10 start ups fail, I want my first business to be relatively low risk/low reward. As it keeps growing I would be be more inclined for high risk/high reward but NOT the first business itself.

 

[/quote] Thank you for your input. You know how we say entrepreneurship is a career in seeking risk and reward. Since this will be my first venture and I do not hold a portfolio, if one business fails I do not have another to fall back on. And 9/10 start ups fail, I want my first business to be relatively low risk/low reward. As it keeps growing I would be be more inclined for high risk/high reward but NOT the first business itself.[/quote]

Dear friend,

You are NOT gonna have a low risk business. Technically, risk is a calculated guess and if you want low risk, buy treasury bonds or something (well even that is risky now). First rule of entrepreneurship is be prepared to lose all the money you put in, and still sleep soundly at night. If that's okay with you, then start gathering your A-team.

If 200k is your limit, start with something around 50k to be "low risk". you know what i mean?

Some people like to delusion themselves into saying they are not going in for the money but passion or whatever excuse. If you're on WSO, I'm pretty sure the money > passion. But, well there are exceptions, but in the entrepreneurial world, the money that comes with the investment is the only scorecard for your endeavors. Imagine playing cricket with no wicket/run counts, it's just bollocks after a whole test day. So, before you say you wanna pitch and bat and run whole day without a score, think again, coz there's no point of playing if there's no score to measure your win.

PS: every successful entrepreneur thought their first venture was low risk/low reward cause they want to test it out and often find themselves the best option, failed miserably, and then became a better entrepreneur after that. Keep your heads up and seeking a small business consultant sounds like a good idea to start.

 

financialmanagement786, let me get this straight: your family is rich and you want to know how to make money? Fuck you.

That's right, suck it.....kiss my white ass.

If you have so much money, go on a journey to 'discover youself' and be done with it. I'm doing you a favor here. Listen, I've fought for EVERYTHING I have, and it's not a whole lot, but I learned a lot about myself along the way. So far, you're a spoiled, lazy asshole who thinks he can hack it on Wall Street. Maybe you can. Maybe you can't. But until you so something without a fucking safety net, you'll never know WHAT you are capable of.

Personally, I've proven to myself that I'm capable of ANYTHING and the only thing standing in my way is limp dicked faggots who measure a man by his family's wealth or a few test scores from years ago....and they haven't gotten in my way yet. God help them if they do, they'll need it because I'll show them no mercy.

Go out and just do your thing. Just go. You've got a pile of money backing you and you still have some youth left in you: MAKE USE OF IT. Fucking old men with no balls and women worry about risk.....be a fucking man and get out there.

You can do it.

That is all.

Get busy living
 
UFOinsider:
financialmanagement786, let me get this straight: your family is rich and you want to know how to make money? Fuck you.

That's right, suck it.....kiss my white ass.

If you have so much money, go on a journey to 'discover youself' and be done with it. I'm doing you a favor here. Listen, I've fought for EVERYTHING I have, and it's not a whole lot, but I learned a lot about myself along the way. So far, you're a spoiled, lazy asshole who thinks he can hack it on Wall Street. Maybe you can. Maybe you can't. But until you so something without a fucking safety net, you'll never know WHAT you are capable of.

Personally, I've proven to myself that I'm capable of ANYTHING and the only thing standing in my way is limp dicked faggots who measure a man by his family's wealth or a few test scores from years ago....and they haven't gotten in my way yet. God help them if they do, they'll need it because I'll show them no mercy.

Go out and just do your thing. Just go. You've got a pile of money backing you and you still have some youth left in you: MAKE USE OF IT. Fucking old men with no balls and women worry about risk.....be a fucking man and get out there.

You can do it.

That is all.

Thank you for the encouraging and discouraging words in the same post. lol. I have also proven my worth by helping my father revive a company. When kids of my age were going to college and chasing pussies, I had to reach factory at 6am , 1h30min drive from home, and stay there till 10 pm, every single day for 7 years. Working hard , brain storming etc. My father admits that I have played a key role in reviving the company. I am NOT scared, I am just mining for advise and ideas. As I believe the best ideas always comes from a place where you expect the least.

Your parents paid for college, mine did NOT and made me work for 7-8 years. This is the money I deserve NOT charity.

Also never really experienced safety net, when I joined the company we were at the verge of bankruptcy.

I have planned a trip already, spoke to several consultancies, lawyers, friends and family in UK. May be within the next three months I will start my adventure.

And really appreciate all the advice and encouragements.

 
financialmanagement786:
Your parents paid for college
WRONG, you don't know anything about me except the bullshit I post here.

Also, sorry about the tone, I apologize for being rude.

All I'm trying to say is that you need to get out there and do your thing - whatever it is - and I wish you the best of luck.

Get busy living
 

You are completely off-base by saying there is nothing called risk/reward ratio. You are actually challenging the notion of all the top entrepreneurship schools where they actually teach 2 subjects teaching various kind of business with varying risk reward ratio. Also challenging the philosophy of all the Big businesses in the world where they have entire departments managing risks. Even the extremely low risk/reward business can fail but the chances are less .

Example of extremely low risk/reward business are - buying a franchise like mc donalds

low risk/reward business are starting a cafe , buying a bar, starting a cleaning business, taxi company , event management companies

In the above two categories of business as long as you are doing everything right and always having the correct cash flow, the chances of failing are minimal. Here luck and timing does not play an important role.

moderate risk/reward - export-import , handicrafts, trading painting, organizing celebrity led events etc.

High risk reward are sky diving business where after spend tens of thousand of dollars you may just not get permission for it , starting a business in renewable energy like solar power , doing some thing wild which has never been done before Here luck and timing play an important role

Extremely high risk/reward business would be starting a a operating system to challenge Microsoft. Chances are very high that you will go bust in challenging Microsoft but if you are able to do so you will make billions of dollars.

By saying that risk/reward in a franchise business (like mc donalds in a decent location) = staring a renewable energy company = sky diving business , you are sounding like some one who might have a lot of energy but does NOT have any REAL WORLD BUSINESS experience. Even the large companies have departments that manages risks, even freaking warren buffet has to manage risk.

If you are correct than schools that teach these subjects in entrepreneurship including Babson College should bow down on there knees in front of you or just shut down. I have 8 years of experience managing risk, at various stages I had to balance a high risk enterprising with a low risk enterprise.

Of course sometimes high risk/reward business succeed and low risk/reward business fail but percentage of time that happens is very less.

At present I am interested in moderate risk/reward business nothing too risky but nothing too safe like a franchise.

I have one question for you

Is the risk involved in buying a mc donalds franchise = starting a solar power plant with unique technology the first of its kind, have same risks.

Even Richard Branson started off with a low risk/low reward business called student magazine and eventually started taking larger risk as his portfolio grew.

Also buying treasury bonds is NOT a business lol, it is just an investment. Do you even know the difference between investment and a business enterprise?

Also most people start business for passion and money comes automatically.

At present I am interested in moderate risk/reward business nothing too risky like started a solar power plant but nothing too safe like a franchise. Some thing like a export-import , manufacturing etc.

Most traders have work on their risk/reward. Also you dont have to calculate risk/reward to 10 decimal places but you should have a general idea.

Also most people who are in the business solely for money are NOT able to persist for the for the first 3-4 years when the business has not yet taken off and there is no income. On the other hand those people who are passionate about their business are able to preserve through the initial 3-4 years even if the business has not yet started making profit.

I asked advise from you because I though you know what you are talking about with all due respect. How many years have you been running a business?

 
financialmanagement786:
You are completely off-base by saying there is nothing called risk/reward ratio. You are actually challenging the notion of all the top entrepreneurship schools where they actually teach 2 subjects teaching various kind of business with varying risk reward ratio. Also challenging the philosophy of all the Big businesses in the world where they have entire departments managing risks. Even the extremely low risk/reward business can fail but the chances are less .

Example of extremely low risk/reward business are - buying a franchise like mc donalds

low risk/reward business are starting a cafe , buying a bar, starting a cleaning business, taxi company , event management companies

In the above two categories of business as long as you are doing everything right and always having the correct cash flow, the chances of failing are minimal. Here luck and timing does not play an important role.

moderate risk/reward - export-import , handicrafts, trading painting, organizing celebrity led events etc.

High risk reward are sky diving business where after spend tens of thousand of dollars you may just not get permission for it , starting a business in renewable energy like solar power , doing some thing wild which has never been done before Here luck and timing play an important role

Extremely high risk/reward business would be starting a a operating system to challenge Microsoft. Chances are very high that you will go bust in challenging Microsoft but if you are able to do so you will make billions of dollars.

By saying that risk/reward in a franchise business (like mc donalds in a decent location) = staring a renewable energy company = sky diving business , you are sounding like some one who might have a lot of energy but does NOT have any REAL WORLD BUSINESS experience. Even the large companies have departments that manages risks, even freaking warren buffet has to manage risk.

If you are correct than schools that teach these subjects in entrepreneurship including Babson College should bow down on there knees in front of you or just shut down. I have 8 years of experience managing risk, at various stages I had to balance a high risk enterprising with a low risk enterprise.

Of course sometimes high risk/reward business succeed and low risk/reward business fail but percentage of time that happens is very less.

At present I am interested in moderate risk/reward business nothing too risky but nothing too safe like a franchise.

I have one question for you

Is the risk involved in buying a mc donalds franchise = starting a solar power plant with unique technology the first of its kind, have same risks.

Even Richard Branson started off with a low risk/low reward business called student magazine and eventually started taking larger risk as his portfolio grew.

Also buying treasury bonds is NOT a business lol, it is just an investment. Do you even know the difference between investment and a business enterprise?

Also most people start business for passion and money comes automatically.

At present I am interested in moderate risk/reward business nothing too risky like started a solar power plant but nothing too safe like a franchise. Some thing like a export-import , manufacturing etc.

Most traders have work on their risk/reward. Also you dont have to calculate risk/reward to 10 decimal places but you should have a general idea.

Also most people who are in the business solely for money are NOT able to persist for the for the first 3-4 years when the business has not yet taken off and there is no income. On the other hand those people who are passionate about their business are able to preserve through the initial 3-4 years even if the business has not yet started making profit.

I asked advise from you because I though you know what you are talking about with all due respect. How many years have you been running a business?

Damn man, forget college. You don't need that shit. All those years helping Daddy run his company really turned you into the next Zuckerberg.

I'm going to make two points that you didn't ask for and aren't going to like, but this is America so I get to say what I want.

1) 9/10 small businesses fail because they are started/run by people like you who believe its simple and anyone can do it.

2) You're right, you're not in it solely for the money. Why not? Because you were handed the money and basically told to go play around. Its easy to not be in it for the money when you don't really have any skin in the game.

You really want to be an entrepreneur? Put together a solid business plan, sell your plan to some LP's, put YOUR capital in, and then see if you're all about the experience.

You're the Indian Billy Madison.

[quote=patternfinder]Of course, I would just buy in scales. [/quote] See my WSO Blog | my AMA
 
Simple As...:
financialmanagement786:
You are completely off-base by saying there is nothing called risk/reward ratio. You are actually challenging the notion of all the top entrepreneurship schools where they actually teach 2 subjects teaching various kind of business with varying risk reward ratio. Also challenging the philosophy of all the Big businesses in the world where they have entire departments managing risks. Even the extremely low risk/reward business can fail but the chances are less .

Example of extremely low risk/reward business are - buying a franchise like mc donalds

low risk/reward business are starting a cafe , buying a bar, starting a cleaning business, taxi company , event management companies

In the above two categories of business as long as you are doing everything right and always having the correct cash flow, the chances of failing are minimal. Here luck and timing does not play an important role.

moderate risk/reward - export-import , handicrafts, trading painting, organizing celebrity led events etc.

High risk reward are sky diving business where after spend tens of thousand of dollars you may just not get permission for it , starting a business in renewable energy like solar power , doing some thing wild which has never been done before Here luck and timing play an important role

Extremely high risk/reward business would be starting a a operating system to challenge Microsoft. Chances are very high that you will go bust in challenging Microsoft but if you are able to do so you will make billions of dollars.

By saying that risk/reward in a franchise business (like mc donalds in a decent location) = staring a renewable energy company = sky diving business , you are sounding like some one who might have a lot of energy but does NOT have any REAL WORLD BUSINESS experience. Even the large companies have departments that manages risks, even freaking warren buffet has to manage risk.

If you are correct than schools that teach these subjects in entrepreneurship including Babson College should bow down on there knees in front of you or just shut down. I have 8 years of experience managing risk, at various stages I had to balance a high risk enterprising with a low risk enterprise.

Of course sometimes high risk/reward business succeed and low risk/reward business fail but percentage of time that happens is very less.

At present I am interested in moderate risk/reward business nothing too risky but nothing too safe like a franchise.

I have one question for you

Is the risk involved in buying a mc donalds franchise = starting a solar power plant with unique technology the first of its kind, have same risks.

Even Richard Branson started off with a low risk/low reward business called student magazine and eventually started taking larger risk as his portfolio grew.

Also buying treasury bonds is NOT a business lol, it is just an investment. Do you even know the difference between investment and a business enterprise?

Also most people start business for passion and money comes automatically.

At present I am interested in moderate risk/reward business nothing too risky like started a solar power plant but nothing too safe like a franchise. Some thing like a export-import , manufacturing etc.

Most traders have work on their risk/reward. Also you dont have to calculate risk/reward to 10 decimal places but you should have a general idea.

Also most people who are in the business solely for money are NOT able to persist for the for the first 3-4 years when the business has not yet taken off and there is no income. On the other hand those people who are passionate about their business are able to preserve through the initial 3-4 years even if the business has not yet started making profit.

I asked advise from you because I though you know what you are talking about with all due respect. How many years have you been running a business?

Damn man, forget college. You don't need that shit. All those years helping Daddy run his company really turned you into the next Zuckerberg.

I'm going to make two points that you didn't ask for and aren't going to like, but this is America so I get to say what I want.

1) 9/10 small businesses fail because they are started/run by people like you who believe its simple and anyone can do it.

2) You're right, you're not in it solely for the money. Why not? Because you were handed the money and basically told to go play around. Its easy to not be in it for the money when you don't really have any skin in the game.

You really want to be an entrepreneur? Put together a solid business plan, sell your plan to some LP's, put YOUR capital in, and then see if you're all about the experience.

You're the Indian Billy Madison.

You are free to sit on your ass and judge people who do the action. Also I earned the money I have been given by reviving the company from bankruptcy.

Nor do I think I am business guru, your perception is skewed.

I was trying to get advise through this thread, I did receive great advice from some people.

 

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Maiores quam velit modi nostrum. Qui cumque quia veniam modi qui et dolores nobis. Dolores quis quod error.

Possimus dolores ut omnis velit fuga. Vitae qui voluptates vel non assumenda quo. Quia adipisci aut maxime magnam impedit. Similique pariatur autem eius laboriosam magni.

 

Autem vel tenetur corrupti error. Doloremque officiis vero ea ipsa nobis quam quia reprehenderit. Molestiae ut vel dolor similique vel quidem. Sapiente officiis magni molestiae ex. Iste molestias sit vel libero sit neque inventore. Eveniet ut soluta sunt aut.

Illo amet soluta reiciendis et quam eius totam. Autem ab inventore neque illum.

Similique voluptatem dolorem commodi magnam officia accusantium. Et laborum vel tenetur omnis quos ad vitae. Veritatis id omnis consequatur debitis consequatur quidem. Accusamus ducimus rerum natus enim sapiente.

Consequuntur magni in suscipit et nesciunt eaque non quo. Reprehenderit repellendus voluptas sed nulla maxime eveniet quisquam.

 

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Fugiat deleniti laboriosam aut et corrupti. Necessitatibus quibusdam rerum ducimus amet. Eos voluptatem aut architecto et necessitatibus laborum. Quo accusantium quisquam ad molestiae perferendis fuga sint.

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