Ahimel,
I'd like to offer some unsolicited advice.
I wouldn't say you are almost a millionaire since you have a list of things you've learned before starting the business. This is simply a good foundation.
What I have found is that with almost every business you will most likely hit a brick wall. When you do hit a brick wall, its how you learn to climb it, break through it or go around it that will determine your success and ultimately make you a millionaire through business.
When I started out I thought like you, thats the great thing about such forums is that you can learn from others.
Sincerely,
"Still Growing"
Quote:
Originally Posted by ahimel  Sounds like a workable plan. We also are starting a business in January that we plan to build up to a franchise, and sell for $1,000,000 within a couple of years. At this point, I would technically be a millionaire. Even if we don't find a buyer or choose not to sell, I would own a business worth a million, and so would also technically be a millionaire.
2 years to a million is ambitious. Am I almost there? It really depends on how you define "almost there." I haven't technically started the business yet, so in that sense I'm nowhere close. But I've laid a lot of groundwork since I started thinking about being rich 6 years ago: - I overcame the zero-sum mentality of economics
- I accepted that the best way to become rich is to provide value
- I learned enough about the stock market and financial terminology to become a licensed financial advisor
- I've worked for a small business
- I've helped start a small business
- I've met with and talked to a lot of people who own small businesses
- I've studied to learn what makes businesses successful
- I've studied to learn the differences between a small self-employment business and a large business
- I've learned about C-corps, S-Corps, LLCs, Tax requirements for businesses, and paperwork requirements for businesses
- I've learned how to write a business plan
- I've spend hours refining the best ways to launch this business
So in some sense, I really am "almost" there. The only thing I have left is the busywork to actually get it done. |