Discussion in 'Ham Radio Discussions' started by W4RAV, Feb 3, 2018.
are you a Marconi man?
No wait is that a Marconi man skeleton
While employees could be a way to make money in a business, they are not always the key. Exploitation of the employees is key, or finding a concept that can work without employees. Ideally, if you have employees that are costing you $20 per hour to hire, you are making $30 and hour (or more) while they are on the job, for each employee. Many businesses haven't figured out how to do that, for one reason or another.
But you can have a successful business on your own, without employees. And make a lot of money. Maybe more than if you did have employees. But it all depends on what you are doing, the marketplace for the business, and a whole lot of other things.
I encourage anyone who has the desire, talent, and bravery needed to start a business to do so, IF you have a marketable idea. Every hare-brained scheme will not result in a good business outcome, but some will. Every well thought out idea will not result in a money making venture, but some will. In many cases, it is hard to predict what will work well, and what is doomed to fail.
Don’t get me started.
Spring Training opened yesterday. As of today, the Pirates are mathematically eliminated.
Well, I married into an Italian family, but it’s not the Marconi clan.
It may not be as hard to predict as you think. A well thought out business plan/budget with reasonable expectations should tell you how profitable the business will be. It is important to have business experience in the industry you are starting your business. That is key. To start a business you have no experience in will most likely result in failure. Earlier we discussed how the IRS would even look questionable at such a scheme as a questionable legitimate business. More likely such a person is looking for right offs. P&L management, budgeting, sales and leadership experience a must. Not many have what it takes. It's difficult and most are not willing to pay the price regardless of the rewards.
As far as not having employees and making it big those are the exceptions. I come from a background in business consulting that is labor intensive. And most small business remain small because the owners have not figured out how to recruit, train, motivate, and lead their employees. Most of the business's I work with today don't even know how to stay staffed which is job number 1. Business leaders even at the middle management level are like professional athletes with a rare talent.
Shucks. I was going for an autograph. No No I don't want one anyway
Come see me about all your CAD needs, ok? In about a year when I get my business going.
Back on topic (a little), I try to use ham radio as a way to teach my students about STEM (Science, Technology, Engineering, Maths).
On Monday, the school had a science fair, and I demonstrated the reception of HF radio digital signals and their decoding. I used my Icom rig to receive FT-8 ham signals, as well as marine weather fax maps.
Why didn't I demonstrate transmitting? Because the wonderful licencing authority over here still has not issued me with a ham licence! But receiving these radio signals was of great interest to both the students and their parents who visited the fair, and all of them want to learn more about STEM projects.
If you have a business selling books, you have to sell them for more than you buy them for, otherwise you don't have a business. So you could buy books at garage sales or thrift stores, then sell them on e-bay or Amazon, or wherever, but you need to get more for them in any case. If you buy a book for 50 cents, and sell it for $5 plus shipping, you would make a gross profit of $4.50. You could read the book if you want to, but you can't write off the time that you spend doing that, because there is no actual expense involved.
There are people that go around looking for books like this, then reselling them. You just have to know what the books are selling for. There would be some deductions available for actual costs of using a car, or office supplies, etc. But unless you dedicate a lot of time to this, you really won't make a whole lot of money. You can basically write off any sort of legitimate business expense (any cost that you incur for running your business).