Another 'What do you do for a living' thread.

[rdjmp]

" knowledge means 10x what hard work does"...

That is simply false. Knowledge can multiply the value of your work but it won't replace it and work WILL multiply the value of knowledge. I'll add persistence to the equation because most of the people here are successful by a combination of all three plus many other factors, depending on many and varied personal definitions of success.
Reading the responses in this and other threads you'll realize owning a GT or a whole stable of exotic cars or whatever else anyone here enjoys is for most here a benefit of success, not the goal in itself. There is without a doubt a higher level of intelligence and knowledge among this "successful" crowd but that's not how anyone made it here. Everyone here knows a few brilliant failures.
So...
... Reread every post.
... Answer HHGT's questions in the context of soroush's advice (no, you didn't answer - you just told him how smart you are and we'd already discerned that)
... Re-re-read Chip's advice.
... Save this thread to re-read in 10 and 20 years.

And to answer your original question: Welder > Biologist > University Professor > Business Employee in almost every position in my selected field > CEO > Business Owner and Investor

 

[BlackICE]

There isn't a shortage of people with knowledge, but there is a shortage of people with knowledge that are willing to work hard, sacrifice, and postpone personal gratification.

You need both to succeed.

 

[Mullet]

Work for someone in their business, learn it WELL. Start your own business.

It takes 3 things to succeed:

1. Hard work
2. Dumb luck
3. Right place at the right time

 

[Kayvan]

Taking risks

That's one no ones mentioned; and its required

 

[viva gt]

remember

"Luck is what happens when preparation meets opportunity."
that would also include, hard work and determination.
and yes, keeping debt free as much as possible is very important

 

[dbk]

Ignore the rest of this so-called "Advice".

Here's the real deal:

1. Drop out of college.
2. Buy or rent a house with a basement or a substantial crawl space.
3. Borrow like $15k to spend on high pressure sodium and metal hallide lamps, buckets, a recirculation system etc.
4. Watch as all your dreams come true.

 

[Mullet]

Ignore the rest of this so-called "Advice".

Here's the real deal:

1. Drop out of college.
2. Buy or rent a house with a basement or a substantial crawl space.
3. Borrow like $15k to spend on high pressure sodium and metal hallide lamps, buckets, a recirculation system etc.
4. Watch as all your dreams come true.

I see your basement renovations are paying off. Bravo

 

[SteveA]

Ignore the rest of this so-called "Advice".

Here's the real deal:

1. Drop out of college.
2. Buy or rent a house with a basement or a substantial crawl space.
3. Borrow like $15k to spend on high pressure sodium and metal hallide lamps, buckets, a recirculation system etc.
4. Watch as all your dreams come true.

If you think the new neighbors were unhappy with Stunts pressure washing the concrete wait till they get a load of DEA agents stomp'n all over the hood as they disassemble your new pad. I call debs on the new TT set up when it gets to auction.

 

[Kingman]

Screw the indoor systems...just move to Humbolt County and enjoy the fresh air - http://www.californiality.com/2010/07/humboldt-county-marijuana-epicenter.html

 

[B.M.F.]

Ignore the rest of this so-called "Advice".

Here's the real deal:

1. Drop out of college.
2. Buy or rent a house with a basement or a substantial crawl space.
3. Borrow like $15k to spend on high pressure sodium and metal hallide lamps, buckets, a recirculation system etc.
4. Watch as all your dreams come true.

Ahh yes the Tennesse Weed Cave......That was a pretty sweet set up.

 

[ChipBeck]

Ignore the rest of this so-called "Advice".

Here's the real deal:

1. Drop out of college.
2. Buy or rent a house with a basement or a substantial crawl space.
3. Borrow like $15k to spend on high pressure sodium and metal hallide lamps, buckets, a recirculation system etc.
4. Watch as all your dreams come true.

:lol :lol :lol :lol :lol

Ahhh.......well......yeah, there's always that. Horticulture your way to the top!!

Chip

 

[skyrex]

I just caught this thread and I expected the numerous humorous responses that I saw. :thumbsup:thumbsup

However of the serious responses I noticed one that was missing. How you handle adversity. If you are going to be successful you are going to fail.....and probably more than once. It can be a crop lost to poor irrigation like DBK's basement :wink or a business failure. I did not find my success without learning how to handle adversity and I know very few who do. Learn how to handle deal with the things in life that don't work out well and you will have a leg up on making the life you want.

 

[FlorIdaho Chris]

I second what Skyrex posted above. I learned more from going broke twice than I ever would have otherwise. The turtle wins the race every time; plodding and relentless.

Plan to get rich slow, your chances of success will go up exponentially. Always live within your means. Avoid debt like the plague.

 

[dbk]

Ahhh.......well......yeah, there's always that. Horticulture your way to the top!!

Just sayin. Why waste your time with that other stuff?. We'll call it $1000 a plant wholesale to other people in the industry X a really big basement with 200 plants = $200k every few months. That's assuming you just want to kick it. If you really wanted to get street level with it, you're talking multiples that could make you a half mil a quarter. And don't forget, one of the other industry benefits is no taxes.

Go to college. Work hard. Cultivate great ideas. Or just grow a bunch of pineapple express. You'll get all the money you want and you'll throw the best parties.

 

[Caboose]

Assets are NOT something that necessarily make you money. For example - you have appreciating assets and depreciating assets. A GT for example can be either, depending on many factors such as market conditions, mileage, accidents, purchase price etc...

Knowledge has always been the key. Ever hear the expression "Work smarter, not harder"?

As far as not having to do any work to make money with an asset, rare - very rare.

In most cases, exotic cars are NOT appreciating assets, just expensive toys. When you acquire lots of money and you can buy them outright without financing them and mortgaging your life, you buy them, but make no mistake - they are mostly depreciating assets and even the banks see it that way on your balance sheet.

Listen to Chip...he's not wrong.

When I think of an asset I do NOT think of a car, a house, or anything like that. They are simply liabilities (AKA depreciating assets, its only an asset in the bank and government's eyes ) that will either cost you a LOT of money, or just a little bit of money. They will never make you money, unless you bought the house to rent it out and you're making more money from renting than you have to pay to keep it. When I'm talking about assets I'm talking more about passive assets, such as rental homes, bonds (to a point, depends on inflation of course), etc. I'm sure you guys know about all that. In my eyes that's an asset. Just wanted to clarify.
And thanks for all the responses guys, I'll be re-reading all of them. I understand it will take time, so I'm trying to start early.

 

[HHGT]

Just before I decided to work for myself, I decided to go on a commission only compensation plan selling High Tech Software - the rest of the sales team thought I was on drugs. When I drew a salary, my commission structure was 2% 4% & 6%. I negotiated a 20% commission only plan and paid for all my travel... More than doubled my income in less than one year. I quickly realized that I was leaving 80% on the table and started my first software business. Have not looked back since!

 

[JCSB]

I had a friend who called me a few years ago for some advice on going into business. My advise was to stay in the job he had and retire with benefits. I have known him since we were in high school and knew he didn't have what it took to make a business work. It wasn't that he didn't have the intelligence, but he just didn't have the dedication and savvy. I have been very fortunate because even though I failed Chip's 8, 15, 19 rule, I have been successful. I have started 3 businesses and gave 2 away. Everytime I start over I was better prepared than the time before. :thumbsup

John

BTW. I wouldn't take DBK advise, you just might end up sharing a cell with Big Teddy who is in for life with a twinkle in his eye. :ack

 

[BlackICE]

When I drew a salary, my commission structure was 2% 4% & 6%. I negotiated a 20% commission only plan and paid for all my travel... More than doubled my income in less than one year. I quickly realized that I was leaving 80% on the table and started my first software business. Have not looked back since!

Sam you should have work for me, I paid a decent salary with paid travel expenses, plus commission rates starting at 10% with multi-tiered bonuses for exceeding quotas. The sky was the limit! :lol

 

[HHGT]

I think I still have the first dollar I ever made. Now if I can just remember where I put it......

Ouch!!! That band aid is not going to stick!

 

[HHGT]

Sam you should have work for me, I paid a decent salary with paid travel expenses, plus commission rates starting at 10% with multi-tiered bonuses for exceeding quotas. The sky was the limit! :lol

Forgot to mention that I hated watching 40% Plus of my salary deducted for taxes.