Comments on: A new venture is born - a goal achieved. http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/ Sharing lessons learned in business and online marketing Sat, 10 Jan 2009 01:03:29 +0000 http://wordpress.org/?v=2.6.5 By: Scott http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6796 Scott Tue, 05 Feb 2008 14:04:43 +0000 http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6796 My energy is not diversified Matt,I invested the startup cash for a share in the business so that is all, as of now I don't have to put any energy or work in - purely capital at the start so it's another income stream but not something that will take my focus away from online earnings as I am not proactive in that business, I agree that would be a poor use of my time. My energy is not diversified Matt,I invested the startup cash for a share in the business so that is all, as of now I don’t have to put any energy or work in - purely capital at the start so it’s another income stream but not something that will take my focus away from online earnings as I am not proactive in that business, I agree that would be a poor use of my time.

]]> By: Matt http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6793 Matt Tue, 05 Feb 2008 13:32:51 +0000 http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6793 Scott, I do wish you luck in your new venture. But, I have to say that when I read your post I got flashbacks of all my offline diversification efforts. I've had offline businesses but I can say that none of them provided the real security, diversification and profit that my online ventures do. Plus, they were all a pain in the ass. So much work, so much drama and very little to show for it. Family involvement brings in another complication. I know everyone says that you shouldn't do business with family. I thought my situation would be different. Unfortunately, the naysayers seem to be right about this one. I do wish you luck, but I would also suggest you think of diversification differently. It's good to diversify your income sources (you don't want to be a business with just one client, for example) but I think it's a terrible idea to "diversify" your energy. I hope I'm wrong, but I bet that even if your offline business is quite profitable, you'll ultimately realize it wasn't worth the energy. As a side note, it's a strange phenomenon that successful internet entrepreneurs often want to "diversify" into traditional businesses. I've gone through this as have many others I know. I'm not sure if it's diversification we seek or simply a business that we could see and touch and that others would easily understand. Scott,
I do wish you luck in your new venture. But, I have to say that when I read your post I got flashbacks of all my offline diversification efforts.

I’ve had offline businesses but I can say that none of them provided the real security, diversification and profit that my online ventures do. Plus, they were all a pain in the ass. So much work, so much drama and very little to show for it.

Family involvement brings in another complication. I know everyone says that you shouldn’t do business with family. I thought my situation would be different. Unfortunately, the naysayers seem to be right about this one.

I do wish you luck, but I would also suggest you think of diversification differently. It’s good to diversify your income sources (you don’t want to be a business with just one client, for example) but I think it’s a terrible idea to “diversify” your energy.

I hope I’m wrong, but I bet that even if your offline business is quite profitable, you’ll ultimately realize it wasn’t worth the energy.

As a side note, it’s a strange phenomenon that successful internet entrepreneurs often want to “diversify” into traditional businesses. I’ve gone through this as have many others I know. I’m not sure if it’s diversification we seek or simply a business that we could see and touch and that others would easily understand.

]]> By: Justin Cook http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6605 Justin Cook Sat, 26 Jan 2008 13:01:34 +0000 http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6605 If you ask me, this is a sure thing for you. If he's good at what he does, and his clients like him, he stands to make a killing in landscaping (that's what I used to do). Then you get to benefit from 20% of said killing! If you ask me, this is a sure thing for you. If he’s good at what he does, and his clients like him, he stands to make a killing in landscaping (that’s what I used to do). Then you get to benefit from 20% of said killing!

]]> By: Ian http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6561 Ian Wed, 23 Jan 2008 20:04:07 +0000 http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6561 Good luck to your brother... Hope the weathers better this year. Good luck to your brother… Hope the weathers better this year.

]]> By: nesa http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6556 nesa Wed, 23 Jan 2008 19:09:59 +0000 http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6556 You are very lucky that you've acheived one of the goals by utilizing your brother's skills. Its a great feeling to keep it in the family. You are very lucky that you’ve acheived one of the goals by utilizing your brother’s skills. Its a great feeling to keep it in the family.

]]> By: ScottUA http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6549 ScottUA Wed, 23 Jan 2008 16:30:05 +0000 http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6549 Good luck with this business! I know in my area, landscapers charge an incredible amount of money. Good luck with this business! I know in my area, landscapers charge an incredible amount of money.

]]> By: Abdul http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6548 Abdul Wed, 23 Jan 2008 16:20:28 +0000 http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6548 Congrats Scott and all the best for your brother. I am sure that with your guidance he'll do great. It's nice cutting the middle man :D With regards to that post, I thought I should say I was meant to be appearing on the junior version of that that was a special for "BBC Children In Need" but they didn't let me in because I was too good. However I was promised to be in the adults one as soon as I am 18. Congrats Scott and all the best for your brother. I am sure that with your guidance he’ll do great. It’s nice cutting the middle man :D

With regards to that post, I thought I should say I was meant to be appearing on the junior version of that that was a special for “BBC Children In Need” but they didn’t let me in because I was too good. However I was promised to be in the adults one as soon as I am 18.

]]> By: Self Made Minds » Blog Archive » Check List for Setting Up a New Blog http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6544 Self Made Minds » Blog Archive » Check List for Setting Up a New Blog Wed, 23 Jan 2008 15:37:29 +0000 http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6544 [...] « A new venture is born - a goal achieved. [...] [...] « A new venture is born - a goal achieved. [...]

]]> By: Scott http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6542 Scott Wed, 23 Jan 2008 10:32:48 +0000 http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6542 :) ha, nice one Steve - that would have made for a great submission on that blog post! :) ha, nice one Steve - that would have made for a great submission on that blog post!

]]> By: Steve Dyke http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6541 Steve Dyke Wed, 23 Jan 2008 10:30:07 +0000 http://selfmademinds.com/200801/a-new-venture-is-born-a-goal-achieved/#comment-6541 Good luck with the offline venture Scott, I hope it works out well for you and your brother. Forget the Dragon's Den, get that nice Tipper truck added to the "what do bloggers drive?" thread mentiioned on here the other day! Good luck with the offline venture Scott, I hope it works out well for you and your brother. Forget the Dragon’s Den, get that nice Tipper truck added to the “what do bloggers drive?” thread mentiioned on here the other day!

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