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Building recurring monthly income via Tax Free Muni Bonds

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Money Talk > Investing, Stocks and Bonds

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MoneyMaker2016
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quote:
Originally posted by oldguy
quote:
compete in a space where we have a significant upper hand (service based biz, brick and mortar, etc


Well, almost everyone who hates 'working for the Man" sees themselves running a happy corner coffee shop, owning their own bar (Cheers), a drive-thru coffee/donut stand, a boutique, a McD franchise, yada. In other words, they quit their skilled job and buy themselves an entry-level job that takes 14 hrs/day. (An odd way to find happiness?)

You've read that only 15% of start-ups succeed? So why do the 85% fail? Because their reasons for being in business are all wrong. (1) the urban myth that the only way to wealth is owning a business. (2) "want to be my own boss, hate to take orders, never going to work for the Man" . Ie, "hating your job" is not a good reason to become an entrepreneur.

https://hbr.org/2014/04/please-stop-ideating/


I think you misunderstood.

When I say "ideas", I'm referring to discussions of a) looking at existing businesses and finding ways to significantly improve value or find a significant advantage or b) looking at existing businesses and considering technology that would do the same or solve a problem, fulfill a need, etc. I'm not looking for "new" ideas in the sense that "no one has done them before". In fact, I meant that I am open to looking at businesses that have proven to do well already and recently, and look for ways to compete either directly or through making some type of technology in the same space.

As for the drone space, my opinion is that it's too early for "us". There are plenty of investors that are fine entering that space but for us it's too early/risky. The ways the technology and products and space might change make everything too risky. It lacks stability IMO.
Post Tue Apr 05, 2016 5:24 pm
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oldguy
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quote:
are fine entering that space but for us it's too early/risky.


As with all projects, risk is a requirement. You need to quantify it, "too risky" is an emotion - a quantified risk level can be compared/managed.
Eg, if you were on the first manned lunar mission, are you OK with an air supply that is 99% reliable (fails 1 in 100). Or do you hold out for 1 in 1000? Or 10,000? In all of the decision meetings, '1' is always unacceptable (a slow death) - yet everyone knows that the "1" always exists, the question is what is the other number?

quote:
In fact, I meant that I am open to looking at businesses that have proven to do well already and recently, and look for ways to compete either directly or through making some type of technology in the same space.


In engineering, we historically looked at better ways to improve an assembly line - easier access to tools, better ergonomics to each process, better automatic hand tools - powered wrenches, screwdrivers, etc. That was followed by changing the optimizing the product design to make it easier to manufacture - combined parts, lower part count. Most labor-intensive tasks can be optimized immensely - rotating/installing car tires, changing oil, eg.
Post Tue Apr 05, 2016 6:17 pm
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MoneyMaker2016
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Cash: $ 10.10

Posts: 50
Joined: 16 Mar 2016

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quote:
Originally posted by oldguy
quote:
are fine entering that space but for us it's too early/risky.


As with all projects, risk is a requirement. You need to quantify it, "too risky" is an emotion - a quantified risk level can be compared/managed.
Eg, if you were on the first manned lunar mission, are you OK with an air supply that is 99% reliable (fails 1 in 100). Or do you hold out for 1 in 1000? Or 10,000? In all of the decision meetings, '1' is always unacceptable (a slow death) - yet everyone knows that the "1" always exists, the question is what is the other number?

quote:
In fact, I meant that I am open to looking at businesses that have proven to do well already and recently, and look for ways to compete either directly or through making some type of technology in the same space.


In engineering, we historically looked at better ways to improve an assembly line - easier access to tools, better ergonomics to each process, better automatic hand tools - powered wrenches, screwdrivers, etc. That was followed by changing the optimizing the product design to make it easier to manufacture - combined parts, lower part count. Most labor-intensive tasks can be optimized immensely - rotating/installing car tires, changing oil, eg.


LOL........and we digress.

So what is ripe for improvement?
Post Tue Apr 05, 2016 6:34 pm
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