Comments on: Want to Work for Free? Start a Business http://cashmoneylife.com/want-to-work-for-free-start-a-business/ Money Management, Small Business, Career Thu, 09 Feb 2012 19:08:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Rebecca http://cashmoneylife.com/want-to-work-for-free-start-a-business/#comment-22000 Rebecca Fri, 26 Feb 2010 17:31:11 +0000 http://cashmoneylife.com/?p=1870#comment-22000 Ryan - yes, many thanks for the reminder that working for free is not for fools. Building a website takes a lot of time, energy and hard to work and nice to be reminded that there is a light there at the end of the tunnel which may be hard to imagine when you look at your hourly wage. I also, look at my year of working for free as a free education. Where some people spend hundreds of thousands on business school, I've been gaining real world experience and have learned so much in the last 7 months, it has made it all worth it. Some risks are worth taking. Ryan – yes, many thanks for the reminder that working for free is not for fools. Building a website takes a lot of time, energy and hard to work and nice to be reminded that there is a light there at the end of the tunnel which may be hard to imagine when you look at your hourly wage.

I also, look at my year of working for free as a free education. Where some people spend hundreds of thousands on business school, I’ve been gaining real world experience and have learned so much in the last 7 months, it has made it all worth it. Some risks are worth taking.

]]> By: Kevin Khachatryan http://cashmoneylife.com/want-to-work-for-free-start-a-business/#comment-21978 Kevin Khachatryan Thu, 25 Feb 2010 03:49:29 +0000 http://cashmoneylife.com/?p=1870#comment-21978 I've been working for myself for the past 2 years and I must say that the number one obstacle is the slow beginning that you referred to as well. There seems to be a sort of plateau whereby passing it almost propels you into stability. As a web designer, it took me a few months before my business started getting any traction from word of mouth and returning clients. I’ve been working for myself for the past 2 years and I must say that the number one obstacle is the slow beginning that you referred to as well. There seems to be a sort of plateau whereby passing it almost propels you into stability. As a web designer, it took me a few months before my business started getting any traction from word of mouth and returning clients.

]]> By: Pam http://cashmoneylife.com/want-to-work-for-free-start-a-business/#comment-21962 Pam Wed, 24 Feb 2010 03:00:42 +0000 http://cashmoneylife.com/?p=1870#comment-21962 Amen. I totally agree that if you want to be a successful entrepreneur you need to be willing to put a lot of hours in without getting paid. It's all part of the process and if you can continue to work towards your goal and persevere despite all odds, you will eventually reap the rewards. The key for me is to take on projects that I really enjoy doing so they are more like a hobby than a business venture. Then, if they end up producing money in the future, great, but if not, I feel like I've still accomplished something. The most important thing is not to give up. Thanks for the insightful post. Amen. I totally agree that if you want to be a successful entrepreneur you need to be willing to put a lot of hours in without getting paid. It’s all part of the process and if you can continue to work towards your goal and persevere despite all odds, you will eventually reap the rewards. The key for me is to take on projects that I really enjoy doing so they are more like a hobby than a business venture. Then, if they end up producing money in the future, great, but if not, I feel like I’ve still accomplished something. The most important thing is not to give up. Thanks for the insightful post.

]]> By: Kristine http://cashmoneylife.com/want-to-work-for-free-start-a-business/#comment-21943 Kristine Tue, 23 Feb 2010 06:40:13 +0000 http://cashmoneylife.com/?p=1870#comment-21943 What is it called...sweat equity....when you start off a business working for free? Starting your own business centered around your passion will take a lot of work, but work to enjoy along the way. Keeping the big picture in mind, the goal(s) of starting your business will keep you going. We have read many successful stories of how people have made it blogging or creating their own websites. Learn from them. Study them. There's no need to re-invent the wheel. When we focus on giving quality material of high value to the reader, the return on the time and effort invested will return indefinitely! What is it called…sweat equity….when you start off a business working for free? Starting your own business centered around your passion will take a lot of work, but work to enjoy along the way. Keeping the big picture in mind, the goal(s) of starting your business will keep you going.

We have read many successful stories of how people have made it blogging or creating their own websites. Learn from them. Study them. There’s no need to re-invent the wheel. When we focus on giving quality material of high value to the reader, the return on the time and effort invested will return indefinitely!

]]> By: Ryan http://cashmoneylife.com/want-to-work-for-free-start-a-business/#comment-21909 Ryan Fri, 19 Feb 2010 18:54:30 +0000 http://cashmoneylife.com/?p=1870#comment-21909 I'm not currently seeking VC for any of my projects, but I'll keep that in mind. Right now I'm interested in developing my business ventures organically and contracting out for anything I can' do myself. :) I’m not currently seeking VC for any of my projects, but I’ll keep that in mind. Right now I’m interested in developing my business ventures organically and contracting out for anything I can’ do myself. :)

]]> By: Financial Samurai http://cashmoneylife.com/want-to-work-for-free-start-a-business/#comment-21908 Financial Samurai Fri, 19 Feb 2010 18:50:14 +0000 http://cashmoneylife.com/?p=1870#comment-21908 Gotcha Ryan. VC funds take and take and take until mgmt stakes get marginalized to nothing. I'd be wary. Although, there is a ton of money chasing capital, so maybe you can get a better deal. I'd rather invest with a VC instead. Gotcha Ryan. VC funds take and take and take until mgmt stakes get marginalized to nothing. I’d be wary. Although, there is a ton of money chasing capital, so maybe you can get a better deal.

I’d rather invest with a VC instead.

]]> By: Ryan http://cashmoneylife.com/want-to-work-for-free-start-a-business/#comment-21906 Ryan Fri, 19 Feb 2010 18:16:10 +0000 http://cashmoneylife.com/?p=1870#comment-21906 I was coming more from the perspective of taking on VC funds to get your company off the ground, but looking in from the side of buying into a startup is important too. I've not dealt with this topic too much, but I've seen a little from the outside. It's a very interesting sector of the market and one I enjoy reading about. I was coming more from the perspective of taking on VC funds to get your company off the ground, but looking in from the side of buying into a startup is important too. I’ve not dealt with this topic too much, but I’ve seen a little from the outside. It’s a very interesting sector of the market and one I enjoy reading about.

]]> By: Financial Samurai http://cashmoneylife.com/want-to-work-for-free-start-a-business/#comment-21905 Financial Samurai Fri, 19 Feb 2010 18:13:54 +0000 http://cashmoneylife.com/?p=1870#comment-21905 In venture capital, you have to believe in the idea, and invest in the MANAGEMENT. That is my #1 criteria. I've got one VC investments in the making, and it should be good. The issue with VC is that you need to be a "QI" or qualified investor. There are some criteria such as having X amount of investable assets, and make X amount of money. It's good to have a wall, b/c you can easily lose everything in VC! In venture capital, you have to believe in the idea, and invest in the MANAGEMENT. That is my #1 criteria. I’ve got one VC investments in the making, and it should be good.

The issue with VC is that you need to be a “QI” or qualified investor. There are some criteria such as having X amount of investable assets, and make X amount of money. It’s good to have a wall, b/c you can easily lose everything in VC!

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