Are people poor because they are lazy?

[TroutBum]

Ugh, after reading what I wrote and the responses I got, I need to clarify: I am quite happy with where I am. I've lived with myself for 31 years, and I'm getting to know the real Trout better and better every day. I lose no sleep at night, because I know when the **** goes down, I'll be up to the task. Right now, I am sacrificing my career (I sell insurance, have been for a couple of years) right now so I can make $40.00 an hour doing manual labor. It's killing my body and mind, but it's hard to pass up that kind of cash. I know that in the long run, I should be selling, not *** raping my own body -- but I can't help myself. This is the FIFTEENTH summer that I have done this labor job, and this year it is finally showing itself on my body. I'm getting sun-spots on my skin like my old man, my back is hurting, my balls ache. It's rough.

But other than that, Mrs. Lincoln...

To pat myself on the back, kind of, I've finally reached the point that my retirement accounts were at 5 years ago before I emptied them in order to keep my business afloat. Yay me. On top of that, in August we will be 100% debt free for the first time in our marriage. Boo ya.

 

[Dr. Jones]

Congrats, Trout. Sounds like life could be a whole lot worse .. and ai'm truly happy for that.

 

[GoJazz]

Also important is risk tolerance. I think that wealthy people take calculated risks at a higher rate and get a higher return on there money.

 

[franklin]

Sounds like you are living the dream, Trout, aside from the brother of course. I doubt anyone would believe you're lazy anyway, even before your manual labor story.

 

[Surely]

Surely, I'm intrigued by what your prototype is. Details?

My patent attorney has advised me not to disclose anything at this point. But if you want, I will create a thread about it in a month or so with all the details. Heck, I may even ask for people on here to give me their advice and input. Trust me, if you are into golf, you will like this.

 

[franklin]

Heck, I may even ask for people on here to give me their advice and input.

That's code for our money, right?

 

[Surely]

That's code for our money, right?

I would never ask people on here for money. I was thinking more of expertise in various business aspects. However, if someone wanted to invest after hearing the idea, then I suppose we could talk. I have a few potential investors lined up, and I've had people tell me to go on ABC's Shark Tank show.

 

[Stoked]

Another great post, Franklin.

I was very fortunate to only have about 2 years of my life that I was so consumed with success that I seriously don't remember two years of my kid's lives. I woke up one day, realized it, sold my company a month later and took two years completely off. Didn't make up for those two years, but was a blast and a great shot at doing so. Since then I've found balance. My wife and kids don't even think I work, but I get it done. I know I could be making a ton more money than I am, but I hung up that desire a long time ago. Looking back, I'm not overly regretful of those two years .. because that, too, taught me a lot.

I could be making double what I am now but it would take me away from my daughters. Even increasing what I make 10 times is not worth it to me. Nothing would be worth missing out on them.

 

[Hantlers]

My patent attorney has advised me not to disclose anything at this point. But if you want, I will create a thread about it in a month or so with all the details. Heck, I may even ask for people on here to give me their advice and input. Trust me, if you are into golf, you will like this.

I was actually thinking of being a potential investor. No biggie though.

 

[Gyp Rosetti]

I would never ask people on here for money. I was thinking more of expertise in various business aspects. However, if someone wanted to invest after hearing the idea, then I suppose we could talk. I have a few potential investors lined up, and I've had people tell me to go on ABC's Shark Tank show.

Go on bro!!!! I watch that show every week!!! Love it!!! From my experience of watching, be sure you have your patent(s) and more importantly, sales with a fair valuation ready. Hypothetically, if you've done 50K in sales in the first six months, they don't want to see you asking for 100K for 15% of the company when they've valued it at 100K if you get my drift. Projections are nice. But not when it's their money that's being invested. However, I will say there are times when a product/invention is just that much of an obvious home run that they give a solid offer with little to no sales...though those seem to be the ones that they get to go on the HSN.

 

[Dr. Jones]

Go on bro!!!! I watch that show every week!!! Love it!!! From my experience of watching, be sure you have your patent(s) and more importantly, sales with a fair valuation ready. Hypothetically, if you've done 50K in sales in the first six months, they don't want to see you asking for 100K for 15% of the company when they've valued it at 100K if you get my drift. Projections are nice. But not when it's their money that's being invested. However, I will say there are times when a product/invention is just that much of an obvious home run that they give a solid offer with little to no sales...though those seem to be the ones that they get to go on the HSN.

Not to disagree, but if the product and patent is compelling enough, the sales track record is unimportant. In fact, a poor sales record could be far more problematic than so sales record. If investors asked me what my sales were and I said, $0 .. then they asked what my plan was for distribution, I'd say "that's why I'm here, if I were both a product development specialist and a marketing guru, I'd take this thing on my own .. I'm looking for expertise, in a partner, as much as capital."

 

[Gyp Rosetti]

Not to disagree, but if the product and patent is compelling enough, the sales track record is unimportant. In fact, a poor sales record could be far more problematic than so sales record. If investors asked me what my sales were and I said, $0 .. then they asked what my plan was for distribution, I'd say "that's why I'm here, if I were both a product development specialist and a marketing guru, I'd take this thing on my own .. I'm looking for expertise, in a partner, as much as capital."

Yes, but based on my viewing experience, they'd laugh you out of the room more often than not because they don't want to live, eat, and breath the product. They're already billionaires and don't need to bust their *** working for it. They need the person coming on the show to do that so that their money (that invested by said billionaires) works for them. So while they will lend their expertise, they also don't want to kill themselves just to make a few more million. That said, there have been episodes where a killer patent/product with no sales to date gets the Sharks drooling. But those products are few and far between. And like I said, they're often HSN type ones.