If making lots of money easily was the number one criteria, what would be a good business to get into?
"If making lots of money easily was the number one criteria, what would be a good business to get into?"
Any pertinent criminal or ethical concerns ?
High commission sales....
or counterfeiting..;-)
> If making lots of money easily was the number one criteria, what would be a good business to get into?
When I was young (like between 8~12±, late 70's ~ 1980±), I asked my dad how most people who were rich had made their money, and he said lots and lots of them were in insurance and the stock market (when both were boring, but steady, slow growth "industries"). I didn't really take heed. A few years ago (in my late 20's probably) while surveying was steady, I realized that it was never going to make me rich, I started to notice that people that were secure had something going on that had steady residuals coming in all the time... be it insurance, stocks, owning real rental estate, etc.
That's all that I know... I wish I had known more about long term and increasing residuals.
Carl
> If making lots of money easily was the number one criteria, what would be a good business to get into?
Religion, Politics or Crime.
Environmental Consulting
A local ecological consultant has a very successful business. His employees range from professionals who know all the species and how to permit and implement Land Management Plans to landscapers who do most of the grunt work. It's an amazing niche.
The fishermen keep complaining about the fish monitors. Fishermen have to pay for these glorified counters are more often than not, the counters make more than the fishermen.
See the news about the Japanese docks that washed up in Ore. and Wash.? Even though there are no formal efforts to watch for 'invasive' species, if one gets through, the costs of abatement will be great.
Of course, you need to be in one of these states that has excessive environmental laws, then you need to learn them all, then you need to keep current with the policies that the regulators keep changing (illegal but rarely contested). We offer many environmental permitting services and the bigger the permit, the greater the fees. Most of the cause would be the frustration factor...
something nebulous like Management consulting. Whatever it is, it absolutely should not require any type of license.
Generally lucrative consulting businesses that do well are those that bring in a fraction of a very large economic benefit, such as Lobbying firms.
Seems like the new way to get rich is to design an Andriod/Apple "app" that people can't live without. (Twitter/Angry Birds/etc ....)
Create your own lottery. Don't forget the 50% service charge on any winners.
Seriously, one model is sell to many for little, on the promise or possibility of large return. Doesn't have to be monetary return, can be pleasure or percieved benefit, think health care or pets.
In service industry, monthly or yearly fees. On large tracts of land surveyors could offer boundary maintainence contracts. Check and repost/repaint, freshen monuments and replace if destroyed, etc..
A paradigm shifting innovation is always good. Instead of eliminating the dial for push buttons, you eliminate the whole tie to land lines and create something that each individual feels a need for rather than one in the home and scattered community ones. The number and amount of monthly contracts people pay on these days is staggering. Phones, tv, internet, credit cards, extended warranties, health care, power, etc.. We even pay for the air we breathe via air conditioning, humidifiers, air cleaners. Figure out what everybody wants at their fingertips instantly and don't already have, then figure a way to deliver it at a profit and you have a winner.
Stud service for lonely rich women.
Kissing (insert name of incumbent politician) butt
Do a perfect job of knocking off Dad to inherit his highly profitable business
Go to work for the Gubmit
Lower your spending to that of a street beggar
anesthesiologist
> If making lots of money .... was the number one criteria, what would be a good business to get into?
My oldest son is doing very well in software engineering. But he works very hard at it.
People that have the kind of money that creates a dynasty and an endearing wealth to care for generations did not not come from hard work. It comes from old money that is kept working and multiplying.
That money came from a man with an idea and the hard work of others made that man rich.
That or it is somebody who is the luckiest person in the world.
Of the top 400 richest in America, none of them gained their wealth thru hard work. They used what money they were endowed with and let it keep making money.
ANYTHING OTHER THAN LAND SURVEYING....;-)
> People that have the kind of money that creates a dynasty and an endearing wealth to care for generations did not not come from hard work. It comes from old money that is kept working and multiplying.
> Of the top 400 richest in America, none of them gained their wealth thru hard work. They used what money they were endowed with and let it keep making money.
Got to disagree here.
A cursory look at the top 25 richest people in America (according to Forbes Magazine's list of 400 richest Americans) shows the following:
No. 1 Bill Gates
Source of Wealth: Microsoft, self-made
No. 2 Warren Buffett
Source of Wealth: Berkshire Hathaway, self-made
No. 3 Larry Ellison
Source of Wealth: Oracle, self-made
No. 10 Michael Bloomberg
Source of Wealth: Bloomberg LP, self-made
No. 11 Jeff Bezos
Source of Wealth: Amazon.com, self-made
No. 12 Sheldon Adelson
Source of Wealth: Casinos, self-made
No. 13 Sergey Brin
Source of Wealth: Google, self-made
No. 14 Larry Page
Source of Wealth: Google, self-made
No. 15 George Soros
Source of Wealth: Hedge Funds, self-made
No. 19 Steve Ballmer
Source of Wealth: Microsoft, self-made
No. 20 Paul Allen
Source of Wealth: Microsoft, investments, self-made
No. 21 Carl Icahn
Source of Wealth: Leveraged buyouts, investments, self-made
No. 22 Michael Dell
Source of Wealth: Dell Computers, self-made
No. 23 Phil Knight
Source of Wealth: Nike, self-made
No. 24 Donald Bren
Source of Wealth: Real Estate, self-made
FYI, most of the missing numbers in the rankings (Nos. 4 thru 9 and 16 thru 18) are from three family groups, the Koch brothers, the Walton Family and the Mars Family (candy bars), three clans that have indeed inherited their wealth, and have kept it growing. However, this list indicates that individual achievement and not inheritence, may be the leading factor in gaining wealth. I think almost anyone would be hard pressed to say that the people on this list didin't work hard, at least for some portion of their lives.
It might also be worth noting that many of the above 25 claim to be Democrats.
The "humble" to "normal" origins of these people leads one to believe that although luck may also be a large factor, it is "hard work" (whatever that means these days....they certainly didn't dig ditches) rather than family endowment that led to their great success.
Undertaking.
It's recession proof.
E-Bay, I know two people that do this very well, my cousin hasn't worked a regular job in a number of years, buys and sells, my son in law, is just starting, he bought a storage unit, for $600 or so, and had one $2300 item, will probably get $5-6K total off of a $600 investment, thinking of joining the ranks myself, no liability, no license, just buy and sell stuff as is where is.
SHG
Gigolo dancer on a cruise ship. 😉
I quote myself
"That money came from a man with an idea and the hard work of others made that man rich"
http://shine.yahoo.com/work-money/150-million-dowry-chinese-businessman-8217-daughter-183400982.html