Being your Own Boss?
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Hail The Brain Slug
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- Oct 10, 2005
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Azurik
Platinum Member
- Jan 23, 2002
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Ok, since you called me out specifically 
Background:
For me, it was a combination of nuture, nature and a little bit of luck.
I grew up under a father who was extremely savvy in business. He was smart, charasmatic and most importantly... very driven. This was most likely due to living in war-torn and poverty stricken Vietnam. He came here in 1981 (same year I was born) and started making a life for his family. From what I hear, it was extremely tough. My mom and dad both worked two shifts and had very little time off. He managed to scrap enough money to create a mechanical/chemical engineering company in 1985 and things just took off from there.
In 20 years being in this country... he is now a business owner, a landlord, a contractor and community leader among other things. I consider him to be extremely successful given the conditions he grew up in. He was driven to learn and driven to work hard.
I grew up under this umbrella my entire life. Even though our interests never intersected, I saw how he ran business and dealt with people. I noticed how people were naturally charmed by his good nature. Most importantly, he did things to enhance my desire to develop my interests, but never spoiling me (or at least not overly spoiling).
I grew up under a household that valued education, but my parents allowed me to be my own person and also do my own things. A lot of Asian parents are, IMHO, too strict with their educational requirements of their kids (and gear them towards high paying jobs like engineering, healthcare, etc.). They come out extremely bright and are educationally/professional successful, but often lack social skills that would benefit them in business.
How It All Started:
My dad brought my my first computer when I was around 13. I became mesmorized with how all the components worked together and became passionate about technology when the internet (AOL) first got popular. I spent countless hours studying on the latest tech... and during highschool ALMOST decided to major in computer science.
In the middle of this, the go go dot-com boom was in full swing and I became fascinated with stocks. My dad gave me $1,000 to play with. I sold my website (www.azurik.com) to Microsoft and also used that money to invest in the market. I saw myself reading up on investments a little bit more than I did computers. It was at this time, along with what I felt fit my personality best, that I decided to enter college as a business major.
My mom called me a very clever child when I was little and I started to see that more in myself as I grew up. I had an ability to see opportunities in everything.
Junior year of highschool, when companies like All Advantage and GetPaid4 paid you to surf the internet with their tracking system. I downloaded a program that would move your mouse for you and surf random websites. I hooked up 7-8 computers in my highschool's library and let it do this all day. Well, we all know it was a bad business model and all those companies eventually went bankrupt.
Senior year of highschool, I tried a role-playing game called Asheron's Call. It was competing with Everquest at the time when MMORPG's first hit the streets. I eventually got tired of it and instead of cancelling my account... I sold off all my items first on eBay and made a pretty penny.
Freshman year of college in 2001... I went to a Microsoft seminar that gave out free Windows XP (I actually found the event here when the Hot Deals forum was hot). It was raining that night in Boston and there were quite a few people who didn't attend. There was an employee there that handed me an entire box of the new OS at the end of the night. I didn't know what to do with all of them. I only needed one. So, I sold one on eBay... and then another... and then another.
Forming of a Company (Azurik Inc.)
In 2002, I decided to incorporate with two operations. One, to charge a fee for my consulting services for things related to IT. Two, to acquire technology products and sell them via a store front and online.
I began contacting numerous manufacturers (Dell, Samsung, HP, etc.) I had access to business contacts through my networks that helped me get in the door. I undercutted my competitors with price, but made it up in massive volume. My dad's business had a warehouse where I could store my products and a discounted UPS rate for shipping.
It started with about $2,000 in revenue a month... then it jumped to $6,000 next month, then $15,000... eventually ballooning to about $200,000 per month at its peak. Looking back, it was such a blur. I was in college... trying to be a proto-typical kid, but also having a business to take care of, a girlfriend that I was in love with and friends I didn't want to distance myself from. It was hard to juggle life during that time. Guys... it just went by so fast... SO fast.
What I Learned:
1. Success, power and money can get into a young man's head. I was on Cloud 9 and felt like I was conquering the world. I was still me... polite, kind and understanding, but overly confident and not humble at all. It took time and maturity to realize what was happening before I could reverse that.
2. You learn that strangers will kiss your ass and worship the ground you walk on. You learn that everyone and their mother has an idea... but needs an investor (aka money) to help get it launch. You eventually learn to say no without feeling bad.
3. You start to realize who your real friends are. I am not trying to boast here, but I was very well known in college - partly because of the right reasons... partly because of the wrong reasons. You can easily tell who wanted to be friends with you because of you, and who wanted to get to know you because they feel they can better themselves from knowing you.
4. Love > Money... ALWAYS. The best times of my college life was not because I had all this money and didn't have to worry about anything financially - it was because of my girlfriend at the time. She and I met before any of it happened, and played such a significant role to the person I have developed into today. She was my better half, my companion... but also my teacher and advisor. She had a way to balance me out, and call me out when I went overboard on something. We were each other's first love - it was honest, pure and real. And I loved her for it. If I had to relive my undergrad and could only choose one thing that would remain the same... hands down I would pick us.
Where I Am Today and My Advice:
I am doing a lot of what my father did. I'm working on my corporate career, but I'm also a business owner, a landlord and a heavy stock investor. But I don't do these things because of the money. The money is sorta like a side benefit. I do all this because I ENJOY what I do. It's a passion. I would do it for free if I could.
Don't enter a field or do something because of the monetary compensation. Do it because you want to do it, because you enjoy doing it and because you could see yourself doing this forever and not get bored. If you seek this out, the financial rewards will eventually come to you. One tends to work harder when they are passionate at what they do.
Most importantly, don't ever let money change you. Be yourself... the person who your friends and family love. I am confident I will be the person I was meant to be and accomplish in life the things that I seek, but that doesn't mean a thing if I don't have the love and respect of the people I care for the most.
Background:
For me, it was a combination of nuture, nature and a little bit of luck.
I grew up under a father who was extremely savvy in business. He was smart, charasmatic and most importantly... very driven. This was most likely due to living in war-torn and poverty stricken Vietnam. He came here in 1981 (same year I was born) and started making a life for his family. From what I hear, it was extremely tough. My mom and dad both worked two shifts and had very little time off. He managed to scrap enough money to create a mechanical/chemical engineering company in 1985 and things just took off from there.
In 20 years being in this country... he is now a business owner, a landlord, a contractor and community leader among other things. I consider him to be extremely successful given the conditions he grew up in. He was driven to learn and driven to work hard.
I grew up under this umbrella my entire life. Even though our interests never intersected, I saw how he ran business and dealt with people. I noticed how people were naturally charmed by his good nature. Most importantly, he did things to enhance my desire to develop my interests, but never spoiling me (or at least not overly spoiling).
I grew up under a household that valued education, but my parents allowed me to be my own person and also do my own things. A lot of Asian parents are, IMHO, too strict with their educational requirements of their kids (and gear them towards high paying jobs like engineering, healthcare, etc.). They come out extremely bright and are educationally/professional successful, but often lack social skills that would benefit them in business.
How It All Started:
My dad brought my my first computer when I was around 13. I became mesmorized with how all the components worked together and became passionate about technology when the internet (AOL) first got popular. I spent countless hours studying on the latest tech... and during highschool ALMOST decided to major in computer science.
In the middle of this, the go go dot-com boom was in full swing and I became fascinated with stocks. My dad gave me $1,000 to play with. I sold my website (www.azurik.com) to Microsoft and also used that money to invest in the market. I saw myself reading up on investments a little bit more than I did computers. It was at this time, along with what I felt fit my personality best, that I decided to enter college as a business major.
My mom called me a very clever child when I was little and I started to see that more in myself as I grew up. I had an ability to see opportunities in everything.
Junior year of highschool, when companies like All Advantage and GetPaid4 paid you to surf the internet with their tracking system. I downloaded a program that would move your mouse for you and surf random websites. I hooked up 7-8 computers in my highschool's library and let it do this all day. Well, we all know it was a bad business model and all those companies eventually went bankrupt.
Senior year of highschool, I tried a role-playing game called Asheron's Call. It was competing with Everquest at the time when MMORPG's first hit the streets. I eventually got tired of it and instead of cancelling my account... I sold off all my items first on eBay and made a pretty penny.
Freshman year of college in 2001... I went to a Microsoft seminar that gave out free Windows XP (I actually found the event here when the Hot Deals forum was hot). It was raining that night in Boston and there were quite a few people who didn't attend. There was an employee there that handed me an entire box of the new OS at the end of the night. I didn't know what to do with all of them. I only needed one. So, I sold one on eBay... and then another... and then another.
Forming of a Company (Azurik Inc.)
In 2002, I decided to incorporate with two operations. One, to charge a fee for my consulting services for things related to IT. Two, to acquire technology products and sell them via a store front and online.
I began contacting numerous manufacturers (Dell, Samsung, HP, etc.) I had access to business contacts through my networks that helped me get in the door. I undercutted my competitors with price, but made it up in massive volume. My dad's business had a warehouse where I could store my products and a discounted UPS rate for shipping.
It started with about $2,000 in revenue a month... then it jumped to $6,000 next month, then $15,000... eventually ballooning to about $200,000 per month at its peak. Looking back, it was such a blur. I was in college... trying to be a proto-typical kid, but also having a business to take care of, a girlfriend that I was in love with and friends I didn't want to distance myself from. It was hard to juggle life during that time. Guys... it just went by so fast... SO fast.
What I Learned:
1. Success, power and money can get into a young man's head. I was on Cloud 9 and felt like I was conquering the world. I was still me... polite, kind and understanding, but overly confident and not humble at all. It took time and maturity to realize what was happening before I could reverse that.
2. You learn that strangers will kiss your ass and worship the ground you walk on. You learn that everyone and their mother has an idea... but needs an investor (aka money) to help get it launch. You eventually learn to say no without feeling bad.
3. You start to realize who your real friends are. I am not trying to boast here, but I was very well known in college - partly because of the right reasons... partly because of the wrong reasons. You can easily tell who wanted to be friends with you because of you, and who wanted to get to know you because they feel they can better themselves from knowing you.
4. Love > Money... ALWAYS. The best times of my college life was not because I had all this money and didn't have to worry about anything financially - it was because of my girlfriend at the time. She and I met before any of it happened, and played such a significant role to the person I have developed into today. She was my better half, my companion... but also my teacher and advisor. She had a way to balance me out, and call me out when I went overboard on something. We were each other's first love - it was honest, pure and real. And I loved her for it. If I had to relive my undergrad and could only choose one thing that would remain the same... hands down I would pick us.
Where I Am Today and My Advice:
I am doing a lot of what my father did. I'm working on my corporate career, but I'm also a business owner, a landlord and a heavy stock investor. But I don't do these things because of the money. The money is sorta like a side benefit. I do all this because I ENJOY what I do. It's a passion. I would do it for free if I could.
Don't enter a field or do something because of the monetary compensation. Do it because you want to do it, because you enjoy doing it and because you could see yourself doing this forever and not get bored. If you seek this out, the financial rewards will eventually come to you. One tends to work harder when they are passionate at what they do.
Most importantly, don't ever let money change you. Be yourself... the person who your friends and family love. I am confident I will be the person I was meant to be and accomplish in life the things that I seek, but that doesn't mean a thing if I don't have the love and respect of the people I care for the most.
MovingTarget
Diamond Member
- Jun 22, 2003
- 9,002
- 115
- 106
what, like those late-night commercials advertising a website that lets you order a kit that then tells you how to become your own boss and live the lifestyle you always dreamed? Say it ain't so!
In all seriousness, it takes people skills (an extroverted personality helps), ambition, maturity, and hard work. You can substitute good connections or considerable wealth for one of these, but results can vary widely. It really depends on what kind of person you are.
In all seriousness, it takes people skills (an extroverted personality helps), ambition, maturity, and hard work. You can substitute good connections or considerable wealth for one of these, but results can vary widely. It really depends on what kind of person you are.
please excuse my spelling/grammar errors... its a lil bit late for me but I felt inclined to write
Being your own boss is not as easy as it sounds... many people chose not to be their own boss because of this fear.
One thing that Azurik mentioned that is very true is having passion in what you do...
I've done quite a variety of jobs and have had mini successes with a few of them. The common denominator of all the jobs that I've tried so far:
1) The jobs that I had financial success w/ were often times when I least expected or desired for money. Money was more of a comparison chart/record meter that I try to beat myself at
2) When I am my own boss
3) Delegate work (even though you may be a Jack-of-all-trades, let other people do the work for you and pay them accordingly)... There are so many hours in a day and so much work a person could do an hour. Instead of trying to do everything yourself because you know how to do everything, just concentrate on being a good boss/leader (of course this is during growth phase; not beginning business owners)
+ Tons of determination/discipline...
Eventually ( sometimes I dunno what the fark I was thinking ) my challenges became very easy in a certain niche/job and I jump to other niches... Somwhere along that path, I strayed too far away and now sorta forgot what I was passionate with. What makes it very difficult now is that not only do I feel desparate for money but whatever I try is so centered around making the money to meet my needs that I fail to remember what I was good at or what I really liked to do.
Things pile up, time flies.... My current job: I own my (construction) contracting company and am feeling the passion again (sorta). I am very OCD about quality over quantity...
It's also helpful sometimes to have worked under ppl so you know how they manage and how you could learn from their success/mistakes...
Once you get that feel good feeling that you're doing something right and the ball is rolling... aye there's the rub!
=JR
---------------------------------------
zzzz... con't later...
Being your own boss is not as easy as it sounds... many people chose not to be their own boss because of this fear.
One thing that Azurik mentioned that is very true is having passion in what you do...
I've done quite a variety of jobs and have had mini successes with a few of them. The common denominator of all the jobs that I've tried so far:
1) The jobs that I had financial success w/ were often times when I least expected or desired for money. Money was more of a comparison chart/record meter that I try to beat myself at
2) When I am my own boss
3) Delegate work (even though you may be a Jack-of-all-trades, let other people do the work for you and pay them accordingly)... There are so many hours in a day and so much work a person could do an hour. Instead of trying to do everything yourself because you know how to do everything, just concentrate on being a good boss/leader (of course this is during growth phase; not beginning business owners)
+ Tons of determination/discipline...
Eventually ( sometimes I dunno what the fark I was thinking ) my challenges became very easy in a certain niche/job and I jump to other niches... Somwhere along that path, I strayed too far away and now sorta forgot what I was passionate with. What makes it very difficult now is that not only do I feel desparate for money but whatever I try is so centered around making the money to meet my needs that I fail to remember what I was good at or what I really liked to do.
Things pile up, time flies.... My current job: I own my (construction) contracting company and am feeling the passion again (sorta). I am very OCD about quality over quantity...
It's also helpful sometimes to have worked under ppl so you know how they manage and how you could learn from their success/mistakes...
Once you get that feel good feeling that you're doing something right and the ball is rolling... aye there's the rub!
=JR
---------------------------------------
zzzz... con't later...
dennilfloss
Past Lifer 1957-2014 In Memoriam
Modelworks
Lifer
- Feb 22, 2007
- 16,240
- 7
- 76
Some think that being your own boss is easy, but that is because you have never been one. You become responsible for everything. If something doesn't work, you can't blame anyone else. If the money isn't right, you have to solve why it isn't, even if that means working longer for less/no pay.
I went from being an engineer with a great salary and having others above me dictate how things are done, to being an artist with about half the pay and doing what I want, how I want. I could go back and work under someone again for more money but that didn't make me happy before. Now I can work the hours I like or go fishing. You have to decide what is important to you and why you want to be your own boss. Is it a power trip ? Is it money ? Is it freedom ?
I went from being an engineer with a great salary and having others above me dictate how things are done, to being an artist with about half the pay and doing what I want, how I want. I could go back and work under someone again for more money but that didn't make me happy before. Now I can work the hours I like or go fishing. You have to decide what is important to you and why you want to be your own boss. Is it a power trip ? Is it money ? Is it freedom ?
I don't have the time to type it all out right now but I've seen both sides. Personally, I recommend starting something as a hobby while focusing on a career path. Always always always have something to fall back on. For every 1 fantastic success story (Azurik) there are 50 monumental failures that you will never hear about.
Plan for success but prepare for failure.
Plan for success but prepare for failure.
Very well...
For me, it all started in Nigera. 2002. The Apple iPod somewhat still in its infancy had started gaining popularity. I thought hey, wouldn't it be a great idea to give them out for free... that's a funny word "free" because nothing in life is really "free" ya know? What on the outside seem to be free ipods was really a masterplan in the making to untold wealth. I got people to sign up for free ipods left and right so long as they refer people to my website thus generating epic traffic at the time.
When enough names and emails were collected, I executed phase 2 of my operation. File for bankruptcy and deny all ipod claims... it didn't however stop traffic from flowing into the newly redesigned website which still netted me advertising dollars. With the names and emails collected, I hatched a devious plan to spam them with relentless emails after emails offering guarantees of penis enlargment.
Realizing my potential, I spent day and night to perfect my masterplan and made a killing off wills. You see people are actually dumb enough to give you their bank account information if you told them someone they didn't know had died and left money on the will for them.
All told I nearly became a billionaire, took all my money and squandered it on red at the roulette tables at Vegas(goes to show, always bet on black)... Back to square one... Nowdays you will find me off the coast of Somalia hijacking ships. What will I devise of next. Stay tuned...
I've given my story, in part, a few times, but I think most are interested more in learning about $$$ than about the actual trials and tribulations of business. Being your own boss of a one-man show is a lot different than being your own boss and managing clients, an office, employees, etc. etc.
All I ever really wanted was the financial freedom to pursue what most matters to me. That path has inevitably led me to areas of much more responsibility, including years of tremendously hard work including 80+ hour weeks, a lot of travel, moving several times, risking everything I had, etc.
Rather than regurgitate my own story, I'll offer a few bullet points that I think are valid for any person whether they want to operate their own business or not:
1) Keep your long-term goals in mind, always.
2) Make sure that every step you take is forward, not lateral or backward. For each step forward, make sure that you are going in the direction of your long-term goals. For example, a promotion at your company to take on responsibilities that ONLY that company will benefit from is a lateral step for you, a vertical step for your company. Don't do it.
3) Diversify your knowledge portfolio. Make sure that you are competitive in your industry independent of your employer. Don't allow them to pigeon-hole you so that you are at their discrimination.
4) Know that you will often have to "salt the jar", paying dues that might exceed your return. This is especially true in the beginning, where you often have to chase the better experience over the better money. The better experience, the contacts, etc. is what will give you your foundation for success later.
5) Get a good accountant.
6) Get a good lawyer.
7) Get everything... everything... in writing. Every agreement, every utterance between clients, partners, and anyone else through which you transact business. There is no friendship in business, and if you think there is there just isn't enough money involved yet.
Business is ultimately selfish, and I think we all know that. That doesn't mean you exploit people, but it does mean you always have to look out for what's most important. People that treat business like it's anything else often compromise themselves and end up actually hurting others. An effective manager always works to get the best end of the deal.
All I ever really wanted was the financial freedom to pursue what most matters to me. That path has inevitably led me to areas of much more responsibility, including years of tremendously hard work including 80+ hour weeks, a lot of travel, moving several times, risking everything I had, etc.
Rather than regurgitate my own story, I'll offer a few bullet points that I think are valid for any person whether they want to operate their own business or not:
1) Keep your long-term goals in mind, always.
2) Make sure that every step you take is forward, not lateral or backward. For each step forward, make sure that you are going in the direction of your long-term goals. For example, a promotion at your company to take on responsibilities that ONLY that company will benefit from is a lateral step for you, a vertical step for your company. Don't do it.
3) Diversify your knowledge portfolio. Make sure that you are competitive in your industry independent of your employer. Don't allow them to pigeon-hole you so that you are at their discrimination.
4) Know that you will often have to "salt the jar", paying dues that might exceed your return. This is especially true in the beginning, where you often have to chase the better experience over the better money. The better experience, the contacts, etc. is what will give you your foundation for success later.
5) Get a good accountant.
6) Get a good lawyer.
7) Get everything... everything... in writing. Every agreement, every utterance between clients, partners, and anyone else through which you transact business. There is no friendship in business, and if you think there is there just isn't enough money involved yet.
Business is ultimately selfish, and I think we all know that. That doesn't mean you exploit people, but it does mean you always have to look out for what's most important. People that treat business like it's anything else often compromise themselves and end up actually hurting others. An effective manager always works to get the best end of the deal.
I know you're being funny, but this is partly why I don't take these threads seriously. No one comes into these threads with the intellectual curiosity to actually learn something.
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