Starting a business

Takes money to make money: The Formula for getting rich (the one that works)

The Formula for getting rich is NOT about compound interest, internet business, multi-level marketing, FOREX trading, stock options, real estate, mutual funds or starting a business. Getting rich through saving and “the magic of compound interest” would take ages. Internet business is not for everyone. MLM (multi-level marketing) is a scam. FOREX trading is more about chance than about skill. Real estate requires a huge up-fron investment. And starting a business has less than 5% success rate. Yet there are rich people in all those fields. There are real estate millionaires and guys who made fortunes off FOREX. But you can’t wrap your head around how they made it, exactly. Did someone help them? Or was it just the plain old “hard work and a little luck?” ...
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Starting a business

5 Things Nobody Tells You About Being Poor

Think you're too smart to ever use one of those shady "payday loan" places? Well, you should know that nobody thinks they're a good deal. Say the gas bill is a month past due, and they're threatening to turn it off (if so, it's $150 to get it reconnected). That is when you find yourself swallowing your pride and heading to the payday loan place. The poor just have no choice....
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Starting a business

Should I quit my job and start a business? (No)

dark early morningYou shouldn’t “should” anything. After I googled “should I start a business,” it felt like the whole internet was trying to persuade me that indeed I should; that whatever job I had couldn’t possibly be better than running my own business, and that if I wasn’t working on a start-up already then obviously I had to “stop making excuses.”...
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Starting a business

Budgeting for bingo: Knowing when to stop whether you’re winning or losing

The game is even starting to shed its “game for little old ladies” (giggle!) image. With that tortured analogy aside, there’s another limit you should consider setting: a “win” limit. Maybe you’re thinking - “What? A win limit? Nonono - I’d better make the most of my bingo night while I’m on a lucky roll!” ...
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Starting a business

Racism and business? Restaurant owner saved business by keeping blacks away

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This is a story I found on reddit.com . It's so fascinating that I just had to share it with you guys. Original link: http://www.reddit.com/r/IAmA/comments/du0rw/iama_restaurant_owner_who_saved_his_business_by/
I'll get it out of the way and admit that what I am doing is racist, I myself am (reluctantly!) a racist, and I'm not about to argue that. I'm not proud of this, but I did what I had to to stay afloat for the sake of my family and my employees and I would do it again. I own a family restaurant that competes with large chains like Applebee's, Chili's, and other similarly awful places. I started this restaurant over 20 years ago, my wife is our manager, both of my kids work here when they're not in college. Our whole life is tied up in this place, and while it's a ton of hard work, we love it. Well the whole racist thing started after my wife was being verbally abused by a black family. I came over to see what the problem was, and a teenage boy in their group actually said "This dumb bitch brought me the wrong...
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