Because my partner wanted to invest in a bigger project in the future and I needed some short term cash
Sometimes a year is the difference between success and failure.
And many people aren’t in a position to put away $50k in a year.
I got told by one person wearing a very expensive suit to “just bootstrap the first $5m” … It was very clear that he and I grew up with vastly different boots.
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The first mistake you made was taking 1500$ without discussing the rate and term
Next time look into a hard money lender or a collateral lender. You can put up your car title(if you own the car) for about 30% of its value in a loan. (Think pawn shop style)
Hard money lender would charge you 10-15% for that loan for a few month
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I’d wager almost everyone here is in a position to save up 50k in a year.
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Yea I figured as much and that’s why I thought 25% return on a small investment, where I prove my ability is a great step towards our future project which will require closer to 50-100k. Idk it was just a big headache and it makes me want to hustle to get that 100k myself. Although I don’t think everyone is capable of saving that much money in a year that’s kind of wild
If not, you’re not using this forum to its full potential.
Not only the information but the people make it hard not to be able to earn and save here.
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This is starting to sound like a delta 8 pyramid scheme
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Insert astronaut meme…
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Step 1. Don’t be on drugs
Step 2. Don’t pay more rent than a room
Step 3. Work in a bar and not the cannabis industry
Step 4. Trap
Step 5. Save 75% of the money you earn
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Step 6 buy cart farm carts
Step 7 buy a cart farmer
Step 8 buy some d8 and some hdt
Step 9 fill carts
Step 10 set up meetings with gas station distributors
Profit
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Just gotta have that hustle grindset fam.
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Nah fam too expensive
Botanicals all day
It is a pretty good lesson in working with investors for a number of reasons. Definitely hammering out terms before you start like @JimmyBones recommends; it’s easy to do with friends since you trust them, especially when its rushed. Plus expectations for him were anchored in at 30%, which is the cost of the equipment, but there’s overhead, rent, etc. that he’s not considering so showing that cost to show he’s not 30%, is actually good.
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What’s 10 years of saving a bars wages
I make 140k a year without a bachelors in a place where the median income is 25k
This is horrible advice.
Like I get that you found some stuff to squirt some disty into carts but what part about that makes you in a position to give career advice? The part where you don’t have a carerrr or the part where you almost gave half of your pisstilate squirt gun company to killa on day one
Theoretically I could run the centrifuge in a motel and work purely off splits but I did explain these aspects as well. Dude was being greedy. It took for me to tell him that he damn near burned the bridge between us for him to realize oh shit maybe 1000 bucks isn’t worth losing this relationship
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He’s on a good path to a career. He’s been doing it for over 4 years with the same business. It’s longer careers than most people have with cannabis and he’s on a fast track.
I’m sure 10 years of income with his current business model is enough money to retire earlier than most of us will.
Career = paycheck and bennies
Entrepreneurship is what you are thinking of.
Not really. And entrepreneur can have a career. I’m sure he’s on the payroll and can get as much benefits as any.
Not really understanding, how getting a paycheck and benefits = a career.
My wife is an executive recruiter for Xfinity. They give a paycheck and full benefits from day 1. I don’t think that equals a career.
I think a career is making a living for a long time.
Check out the definition
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I boot strap EVERYTHING I do. I never had and never will allow anyone to take any part of my business for money. Sweat equity deserves a cut but other than that I own it all myself. If you have your credit and finances in order there’s banks that will lend you money and not take a share in your business only a % on the money. How much of a better partner can you ask for? If you pay taxes and give Uncle Sam his cut the world is at your disposal. I’m of the thought that I take all my L’s ( This year more than ever) by myself and all my W’s by myself. Now I will say I’ve had a lot of friends help me be successful @Killa12345 @qma @ky_cbd @Badcookieextracts @DiNKLB3RG @smoking.mask.society @Shadownaught just to name a few however none of them asked me for a cut of my business for helping me and that’s never forgotten. I say just take the slow road to get where you want and keep it all in your control.
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I love semantics
Whole post is about what college track to follow for a career(job)
Why would anyone go to college to do something a man in a mud hut with cellphone could do (small business sales)
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