Discussion in 'Dumaguete City' started by SkipJack, Jan 27, 2019.
Service businesses often need the biggest 'investment' of all - people!
Depends on who those people are
Yes. my point was you need to have well-trained staff to run a good business - this takes time and so you then cannot afford to lose them. If I were to set up a serious business I would be looking around for similar businesses and 'head-hunt' the best from them if they are not being treated well (pay, perks, time off, respect). I would be looking to give the very best some share of the business over time, to give them an incentive to stay and perform well. In my previous business my best staff wanted to buy it when I retired but had no assets - I wrote a Contract for them to give me a share of profits (I wrote it so the costs were defined or else you find the expenses includes new cars, family on payroll at excessive wages etc) and decreased my profit share annually over a period of ten years. Then after 10 years I felt they were doing all the work and I had been paid enough, so I ripped up the Contract and the business was theirs.
Was in a similar situation but just as I was about to offer a 5 year earnout contract to the key staff (they didn't know about it) a consolidator with shareholders money walk in the door. A few days of talking and bang we have a sales agreement, 21 days later I was unemployed for the first time in my life, didn't even have a hand over period.
I have always been self employed since I was 19 years old, done plenty of start ups. Things have changed a lot these days, a lot harder to start a business and be successful IMO. Glad I'm at the end of my working life.
Is that correct? So many ordinary folks are making lots of money selling online (e.g. dropshipping) and the girls (so we are OUT of it) are making a fortune on onlyfans etc. Wish I had t*ts - well, I do but the rest of me is not desirable.
Footnote: Actually, even my t*ts are not that desirable!
The crisis affected all people. Some suffered less, and some became homeless. I, like many people, was affected by the crisis and lost a lot of money. But now I am more prepared for the crisis and know how to calculate future losses and future profits. I started to learn from different sources how to get over crisis and over financial diffuclties, thus becoming sort of Guru in this domain. If you want to know my story, let's speak in private.