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@romell True but comes with a bigger risk (potentially). One example is ...
I had a friend. He worked with me at an aerospace company back in the 80s. I moved on to other pastures, anyway I bumped into him in the early 90s. Huge Mercedes car, the Rolex... frankly rolling in money - esp compared to me at the time.
He'd left the old company and set up his own business importing and selling environmental test chambers. He basically was the sole importer for a particular German brand. He only sold that brand too.
Then - Black Wednesday - when the UK crashed out of the European Rate Mechanism. The pound lost about 17% of it's value over night. Suddenly he was faced with having to raise his prices by about 20% to still make money. That meant he was out of the game as larger manufactures and resellers had more supply options and could absorb the problem. He couldn't. He was broke inside 2 months.
I had a friend. He worked with me at an aerospace company back in the 80s. I moved on to other pastures, anyway I bumped into him in the early 90s. Huge Mercedes car, the Rolex... frankly rolling in money - esp compared to me at the time.
He'd left the old company and set up his own business importing and selling environmental test chambers. He basically was the sole importer for a particular German brand. He only sold that brand too.
Then - Black Wednesday - when the UK crashed out of the European Rate Mechanism. The pound lost about 17% of it's value over night. Suddenly he was faced with having to raise his prices by about 20% to still make money. That meant he was out of the game as larger manufactures and resellers had more supply options and could absorb the problem. He couldn't. He was broke inside 2 months.
romell · 51-55, M
@SW-User thx a good example ...however history is full of guys who made it big and now even a president being businessmen ..not heard of many being big as a sallaried guy
SW-User
@romell But is money the only driver? If you can pay your bills and live comfortably why do you need more? I have lovely house, 20 guitars (too many), 100s of CDs, can keep myself fed and warm. What more do I need? This way I'm comfortable and anonymous and I can walk away from work like I did yesterday and have two weeks off where I don't have to worry - I still get paid and it'll all be there when I get back. My brother-in-law runs his own business, he does ok, he has an Audi A6 - nice car but still sits in same traffic jams my less prestigious car does. He works really long hours, takes very few holidays and it always got some worry about a supplier changing or a large client not paying on time so he can't afford to pay his employees etc. Lot of stress to me - he thrives on it I think but we're all different - it's not for me.
Depends what you are ambitious for - I'm not bothered about more and bigger status symbols. My ambitions are different from that.
Depends what you are ambitious for - I'm not bothered about more and bigger status symbols. My ambitions are different from that.