Before and After pictures for my product – Are these all fake? Would you buy them like any other creative or could you just use stock photos?
Thanks!
No many of them are real. Also yes you should absolutely use it no doubt
1: Regarding having an on-day: How would you change the day before if you were to train at morning / noon?
2: Don’t have a second question. Just wanna thank you guys for everything and really appreciate your help! I have lost over 33 pounds after following your advice on diet / training in Efficiency and have also actually gained some muscle at the same time. Also, exams have been going great after following your “Studying advice” article. Especially the advice on eating different gums for different classes seems to work wonders.
Awesome congrats on your success!
That’s harder, if you’re a morning person then do everything the same but just work out in the morning. Our experience is it is almost impossible to line up that way because of time constraints. But just work out early and copy the same thing, massage end of day, same diet etc. Maybe one change is you make the morning meal a bit bigger and lunch becomes smaller just to offset the energy usage
No solid tech sales roles in the area.
Want to start a “real” product, so need funds but don’t want to work a random shitty job.
It was mentioned in Efficiency p87 that we would’ve ‘made it the “normal way”’ via a real product, OR ‘have gone full throttle into Affiliate marketing’.
So, for clarity, do you think Affiliate Marketing is a viable way to earn income before starting your ‘real’ product, or would you say we have to take the job route initially?
We’re lower risk on that side, it’s typically better to get a white collar job. This is because no actual work is done in white collar jobs some 50% of the time, people just read facebook and screw around. So it’s free funding for you
I’m currently working as a software engineer in an investment bank.
The salary is pretty good and a job is not too time-consuming but interesting in terms of a business knowledge etc.
I can find a new one and get 10-15% more money.
Should I focus on finding a new job or on starting a side business?
Business no question
What are the best ‘needs’ or ‘hooks’ when selling a product in the make money online niche?
Complete beginners to making money online usually want income security so that they can earn money independent from their shit job, and the freedom to be able to walk away from said shit job.
Not sure what you mean there is literally a full section on this in Efficiency.
Also it says how to get the right sales memos in the book as well depending on what you’re trying to sell. Just look at Tai Lopez etc.
What are the core stretches (what stretch, how long) you guys use to increase flexibility?
You’ve mentioned that stretches need to be part of our routine, but I haven’t seen a specific routine for stretches on the blog or in Efficiency.
In particular, for the lower body 😀
1) Yoga class 1x a week minimum thats a starting point
2) copy said stretches for your routine
3) buy a golf ball and foam roller for loosening up tight muscles/knots
4) stretch for 5 minutes after every shower as your body will be loose
Dear WSPs,
Thank you for a fantastic read.
I’m a 25 y.o MD based in Hong Kong currently making~ 100,000usd post tax.
Planning on starting online business as outlined in efficiency this year
Was wondering what you guys think my odds are in transitioning to M&A, PE, sales trading etc given my background and if low what I could do to boost those odds.
Huge thanks for your time,
BL
this has already been covered in the FAQ. Also if you’re serious about an online business you’re crazy to leave to M&A or PE, you’ll lose millions over the long-term.
Sorry I hve to clarify, MD as in doctor haha
I apologise for hijacking your post. I’m a doctor in London, looking to move my operations to Hong Kong. @BL can you suggest an only forum for networking and understanding what I’m getting into?
By the way, I’m in a similar situation to yours, but looking to invest my extra time into deep learning and ROS. I’m very good in numerics, good with synthesis (med school definitely helped) and okay with intent (originally an asperger’s level of intent but 3 years of interacting with patients and cold approaching women fixed that).
I’m starting to understand going into medicine was the worst mistake of my life
I know you lay in detail the many ways to get involved in crypto aside from just buying the tokens outright but how are you guys personally getting more involved in the space
That is all, not a core competency so just buy when its not in the news sell when its on CNBC constantly.
What are your top 5 ROI marketing channels in 2017-2018?
1) influencers, 2) Instagram/facebook, 3) Google, 4) some propreitary items we can’t disclose, 5) organic word of mouth – we think this last one will move into the top 3 soon.
Thanks
I’m 32 years old, do not have a side business, and need to choose between two jobs.
Option A (current job – scientific research):
– 45h workweek (including commutes), low stress
– high political capital but zero career advancement possibilities
– near zero networking opportunities
– can save/invest 50% of salary
Option B (patent law):
– 60-65h workweek (including commutes), medium stress
– 100% salary increase (thus instantly tripling my savings/investment rate)
– very good networking opportunities
– decent chance to make partner
I’m leaning towards option B as I feel that the benefits outweigh the additional time investment. What do you think? Thank you!
Based on that if you have no interest in a business then yes jump to option B if you’re close to being rich already.
Thoughts on being a real estate agent as a path to riches? In California (silicon valley), average home is 1M+ and alot of agents making 500k+ and 1-4 million/year.
Worried about commission cutting and starting fresh in a competitive market
We have already covered that on this blog and in the books. Yes it works, no its not easy.
Been following you for a while, great content.
Currently building the online business while graduating from college next year: studying MSc digital business. For the past 2 years been doing part-time outside B2B sales for one of the biggest energydrink companies in the world in order to master sales skills.
I’m planning to go the enterprise tech sales route as advised. What can you advise on skipping the entry level role of SDR or BDR and go straight to small business or mid-market AE? Because of my 2-year B2B sales experience with a big (unrelated) firm and my (related) master’s degree, I assume this can be pulled off.
Much appreciated.
We don’t know if thats possible, its much smarter to just go into the entry position and *perform* believing that someone will just give you big accounts with no sales experience is essentially a pipe dream. Since we never did that jump we would reach out and see if someone has, our guess is you’ll get a similar sentence to what we laid out. don’t ask us ask a tech sales person
find a start up that is ramping between pre seed and post series A where there are only a few SDRs and AEs so being promoted to AE is more like moving with the tide plus there are less SDRs and AEs ahead of you. imho product should be ahead of the sales/marketing as you can leapfrog way easier. once SDRs are on a “12 month” track it’s luck of the draw for earlier/later and if you get too good at SDR why promote you unless they have to? depends on risk tolerance but the less SDRs & AEs ahead of you (smaller the company) the higher likelihood you become enterprise way sooner than you should
personal question – been with gf for 8 months, she starts to fight alot about being incompatible every 2-3 weeks, gets mad at me if I dont see her often/call her 2x a day; currently on a week break from our relationship (she initiated it)- i keep wanting to try to make it work, but dont think can marry her since she drives me crazy but i enjoy her company and dont want to be emo when we break up. if she wants to leave, should i let her go?
LOL sorry for this shit, maybe you’ll be bored and answer
Ditch her easy call.
Agree – it’s a waste of time being with someone high maintainence
It’s probably too late to save this one. Be very nice but let women know you have ground rules. She can be with you as long as she is fun and friendly, not a pain.
They may act angry at this initially, but they will respect you for it. Then when they act up you can gently remind them, or you be the one to take a time out.
how do you feel about getting into hedge fund industry during mid 30s? currently 30, would have to get into top MBA, hopefully get recruited to a good place, then start on the bottom of the ladder.
not technically/math gifted, but damn i wanna be a boss
on a side note just for lol’s – what do you think would be an annual income that is considered ‘life changing’? currently making ~400k, but life still seems the same in a normal way, cant really do anything crazy crazy, seems like it’d have to be like $3-5million pretax/year
One question, our answer is still NO. MBA does not help you get into a Hedge Fund go check out our post on hedge fund recruiting. It’s also a horrible time to enter, you want to enter after a crash
I’ve seen people hyping marketing agencies on Twitter lately, consulting business owners, generating leads for them.
What are your thoughts on this exact business model for someone with sales and marketing experience?
Hate to break it to you but never heard of it. We never really use twitter, just for organic growth on this hobby blog. It’s awful for conversions so we dont know what the draw is
Sorry, I didn’t formulate the question correcty. (not native speaking)
What I meant was consulting business owners, generating leads for them like this: FD ads/ad words -> webinar -> lead.
So basically reaching out to business owners, selling them on a monthly retainer where they pay x amounts of dollars + ad spend, and then you set up everything for them and keeps the ads rolling.
What exactly is the question here? You’re generating leads and selling them. Got it. Whats the question
See that Q/A is closed.
I re-read Efficiency last night and found my answer there.
Keep up the good work!
Career question Tl;dr: Late 20’s low 6 fig NW, racing to the 7 fig mark over the next 5-7 years as per Efficiency. Not employed ATM (I know…) but have the choice of committing to one of the two following choices for next 5 years. All other things equal I judge Option A to be ‘least bad’, but do you think I should I be more concerned about walking away from my finance resume/career (and associated upside)?
Option A – Product role @ small tech startup : Peak income in 3 yrs USD150-200k p.a. post tax. + a sliver of equity. Location independent, decide my own schedule. Can start working immediately. Company is profitable and likelihood of going bust seems low. Could develop relevant online marketing skills.
Option B – LO/HF associate roles (in Asia fwiw): Peak income in 3 yrs USD200-300k p.a. post tax (including bonus, at a guess). Standard buy-side work hour/expectations. Resume is solid (left recently for explainable reasons) but not likely to land a role again until March next year at the earliest, however.
Thank you and apologies for the semi-life story – please delete the context if you think I am saying too much
They seem pretty comparable, probably want to go with option A right now but that’s just a gut feel.
Choose the one with lowest hours for highest ability to start something, same old story!
Thanks – bottom line: time left for business building > earnings trajectory for most careers.
Yep. Most refuse to accept this truth
Hey guys,
1st, thanks for writing such great content.
I’m building a product (financial sector, keeping it vague because this is public) which is targeted towards what I call “smart non-insiders” (top 30% income, with some savings).
(1) When selling, do I appeal to their greed or their desire to be safe and sensible (can’t really relate to them yet)?
(2) Given that my product is going to be fairly affordable, do you think it makes sense to engage in a “freemium” type of business model to attract more potential customers, or simply price my product slightly higher and put more effort into customer service and feature updates?
If these Qs seem basic it’s because I’m 19 trying entrepreneurship for the 1st time. Thank you for your time.
1) yes this is right you want to target the get rich crowd same story as what all those programs do
2) probably not, better to give them something for free then give the real stuff at a high cost
That last part is just awful, if you’ve never done this and want to go into financial services you could be running in the red for a LONG time. please read the last 3 chapters of efficiency again.
Love how you knew I needed to reread the socialization and dating sections along with the weekly schedule! Thanks, and I actually mean that. I have a career track in mind (I’m very good at math and synthesis and go to uni) and wealthy parents (not that they spoil me, they’ll just cover my ass if I fail within reason) though.
Question:
If you run successful businesses and investments that do not need your presence in the USA (online business), then does living in the USA still make sense if you can enjoy a better lifestyle everywhere outside of the USA? Overseas your purchasing power is much higher, women are on average better looking and more feminine, and culture is more wholesome and less focused on materialism. I’m specifically talking about Western Europe, Eastern Europe, Asia and South America.
Not really, the problem is really services and lifestyle. What you should do is live in the place with the women you like for about a year. Let us know how you like the quality of life (usually a bit worse). Guy who complain about the USA are usually just losers who have to leverage their passports to get get attractive women (surprise surprise any guy who makes $50K a year is rich in places like thailand, but this ignore this fact).
Anyway, it is a personal decision our guess is you do it and come back if you’re rich. If you want to have kids then obviously you must stay in the USA and don’t want to raise your kids somewhere in cambodia.
30 y.o, tech sales, 7yrs exp as IC. Fight for manager role ~$350k or continue as an IC ~450k to $550k?
Already have side biz $400k revenue, $100k net profit.
Choose the one with the lowest hours. Easy call since your side biz should be able to go to $1,000,000 if you broke $300K already.
Any predictions on bitcoin price during the next economic recession, and what it will be in the next crypto bullrun?
Also optional question: any experiences with beta carotene supplements?
Thanks for putting up quality content
1) probably nothing until 2020 you need adoption and the number of users needs to grow a lot more to drive the price up. Our view is middle 2020 you see a big move
2) never used it, we actually don’t do many supplements just some protein and healthy diet.
1. Finished working 1 year at a small PE family office – We haven’t done many deals (things are looking up, though). I would like to continue in finance (PE or IB M&A). I’m worried that my small deal experience (and non-target school) will prevent me from moving to a larger firm with better pay. (my technical skills were always lacking in prior interviews)
I’m planning on staying here at least 1 more year. I’ll continue working on my side business and networking with the firms outlined in book. If I can’t get into one, it seems like Enterprise sales would be good to transition into? Any thoughts here? Better to go to ES or continue working at small firms while I build my business.
If it is better to go to ES instead of MBA, I will get a job doing tech sales part-time for a startup.
2. If I go to enterprise sales, I have a good shot through my network at getting into the SAP sales academy. It’s 9-month program but seems like it gives a head start to tech sales? (Not necessarily for WSP -open question if anyone is in industry)
1) go into sales
2) spend time on side biz
You’ve been here a lot and keep spinning wheels looking at 10 different options at once. Search function for “juggler”. Stop messing around, get a job with highest dollars per hour and get a biz up and running, time is running out.
I’m working as software developer in a bank and I’m located in Europe (a big non-English speaking country).
The team members are from different different countries in Europe but managers are from US.
I don’t have problems using English on daily basis but I feel my writing and speaking (accent) isn’t fluent and natural enough.
How can I improve it?
Cannot help here as we’re born american. We would go and reach out to people who speak well but were not born in the same area and ask them for advice our information is not useful as we never had an issue.
Duolingo will help. Paid version. It has speaking modules as well.
Netflix, particularly stand up comedy, is great for Americanizing fast.
What do you guys think about the essentialist approach to life/work?
I’ve been strugling to deliver solid results at work due to multiple demands from diferents managers at the same time.
Thanks a lot!
We don’t know what that is. Our recommendation in work environment is only please the top managers. The other guys don’t matter and if they hate you it is actually better, you work less and they can’t get you fired. Then spend rest of time getting to work on something else.
Thanks for the great content. What is your stance on dating nowdays? You prefer stable LTRs, spinning multiple plates or just being single with some occational ONS trown in?
Our stance is basically do what you want and if you’re rich and in shape only socially awkward people suffer. We don’t really care what someone does, it’s their own choice. We’re still negative on giving up 50% of assets for nothing so still a big no on doing that.
1. How would you guys go about negotiating a bonus structure/compensation working in user acquisition roles for a tech company? As you guys mentioned, it’s really just online sales but not a traditionally bonused role on Wall Street.
2. What would be your ideal product to sell to a target market of young woman 18-35 (tangible, reusable product with higher margins). Hoping for specifics beyond *beauty* products.
1) We would focus on being paid in acqusitions/sales. Essentially just tie it to an actual metric you can track so its performance based. Avoid any sort of “black box” compensation structure. The metric matters less than your ability to track it and grow it.
2) we actually don’t know, you put a range of ages we would never touch. You’re talking about 3 very different demographics in our opinion. So if it’s that wide we’d go with a trendy fashion item like the success of elephant pants
Stay at large startup in NYC ($1bn+ valuation) or move to well-known large tech firm (FAANG) at home?
Moving to large tech firm means no rent costs + ~35% increased total comp (same base, liquid equity), which can be used to start investing in a business. Is it worth the downside of losing out on startup options (could be big if IPOs) + negative impact to social life (nyc->suburb)?
Unless you have a lot of equity to the point where an exit would result in $200K+ it doesn’t really matter (we assume you’re in mid 20s).
If you’re really young, 21, we would go with the start up and roll the dice a tad. If you’re older say 30, stick with the big company for stability while you just build something bigger on the side.
How did you first build your twitter following? Did you take an “if you tweet it, they will come approach?” Or did you leverage a resource/take a more strategic approach?
No clue, just started writing. It’s more about commenting on popular places with correct info (we started with Wall Street stuff) then once people realize you’re legit they will follow after that. Since then just a hobby. Never bought a follower but some random bots definitely follow probably 5% or so.
I’m a programmer and soon I want to create online courses in my area. To do this, before, I want to start working with Affiliate Marketing to gain some skills with traffic, offers and sales.
What is the best white niche to start and get some results?
Thanks
You would want to join an affiliate program that targets your demographic. So take the affiliate listing and figure out what age/gender/group it targets. Then put your target audience next to it. Then you simply choose the one that is closest and go and start selling that product.
Easy enough, if you can’t sell it then you are going to be in big trouble since selling a successful product is a lot easier than a brand new to market one.
Brain boosters have been played out. What do you see next for supplements?
Not sure will have an update if we see another obvious market
Diet products have been “played out” for years. Doesn’t mean you can’t build a killer product.
What are your thoughts on hiring a cerfified financial planner like a lot of these books on money say when you have a high net worth? Thank you
Hell no.
Thanks for the QnA, my question is:
What would be a minimum budget required to buy decent online properties (ideally ad revenues or amazon affiliates)?
I have built some decent properties in the past and managed them, but not sure how to evaluate them when someone else sells them, besides the obvious spam & flip.
Thanks!
12x monthly sales is usually a floor valuation unless its really terrible
I didn’t phrase my question correctly, I meant from what threshold and above are usually decent properties since most properties at 3K or so are trash?
Probably $60K minimum. Around there
Hi WSP,
1) Am considering doing adult affiliate marketing and want to know how to maintain anonymity? I am concerned that if such information gets leaked (that I engage in selling adult products) it would look bad for me given my line of work. Using fake names and details may work but would receiving payment be an issue?
If the above is considered two questions, then ignore the below question.
2) You guys mentioned blogging is terrible. But how is affiliate marketing different from blogging? Bloggers put affiliate links on their post for people to click (like your site with approved products section)
Thank you.
1) when you do affilaite marketing literally no one knows hwo you are so its not an issue.
2) it’s not even close, blogging is a constant update model, affiliate is a paid traffic model. Not even in same league
1. Currently have about 2 years exp as a mech eng at one company and still employed there.Going the consulting route, (name.com), would you advise on putting projects that I have worked on at my current job on the site or do you foresee any intellectual property issues down the line doing this?
2. What format do you recommend for your landing page for your aff site, that utilizes paid traffic – ex. Native-ad like w/ content vs a sales page like format (similar to Clickbank offer) pages)? Let’s say we are talking about pain meds for this ex.
1) should be fine clear with Company if worried
2) This is the same answer and always will be. You have to find the guys selling the product and copy theirs as a template. There is no right answer since it depends on demographic. Get a a clean computer look for pain meds over and over and then watch the ads change and copy their style
Currently based in Singapore for a semester. Any cool places to check out around SE Asia for weekend trips?
As stated before no real experience with Asia, can’t help!
Recommend Bali and Phuket
what is % chance you will write the 3rd lifestyle book for a full trilogy?
Pretty high probably 75%
What are your daily/weekly skincare routine to keep youthful skin? (ex. tretinoin) And do you do anything quarterly/semi-annually for skincare? (ex. botox)
Thanks WSP!
Absolutely nothing. Same stuff just clean diet, don’t use any products
I’m attending 10X Growthcon 3 in February 2019.
What question, or how do I word myself in front of potential clients if I have no previous testimonials? I want to add value to them, but I’m not sure of the wording. What would you have said?
No clue how to help don’t even know what 10x growth con is… sales is all the same, same resources same strategy every time. Nothing in here gives us an ability to help
Good day WSPs,
I’m living in one of the smallest and weakest countries of the European Union where IB industry is pretty much non-existent and the average NET monthly salary is ~700euros. Currently I’m working a regular white collar job and managing to save 400euros each month. My goal is to build a net worth of 2 million euros.
At the moment I see only two options:
Option 1) Start an online business (probably affiliate), however I am not sure whether I should start with the paid traffic because 400euros/month seems to be too little amount for ads testing.
Option 2) Move to a stronger economy such as Germany and try to build a local business or career there, however I would need at least 2-3 years to learn a language and adapt in a new country.
Which option would you recommend to choose? I’m in my early twenties.
Easy both. Move to country with highest possible wage that is possible then fund your biz with that.
I have a simple plastic product I am prototyping right now. It hits a painpoint for the social media (me me me) generation, which I feel is a huge market. Plan is to finish design, test, iterate with feedback from close friends/family, hone in on marketing niche (who does it help the most = who to sell to), and then 3D print or do a low volume for organic distribution in NYC to “spread the word” and collect feedback. I would create a landing page or shopify type store, and after small organic success I would contact some IG influencers I personally know or could contact and see if they want to use it if they like it.
I’d have it built locally in the US to cut out initial Chinese copiers, and the sale price would be about $10 (lower margins).
Have you, or do you know people who have had success with this type of route? Or are most people just doing the same old products but rebranded to a new niche they’ve identified? First time attempting something like this. Thanks.
(can you guys remove the 2nd sentence once you answer? thanks again)
Sure it works, not sure what to say beyond that, it’s a basic way to start something small. We don’t know what you’re selling but its a common route
What do you guys think about taking off 6 months to travel in between jobs, really getting to know 2-3 countries, and finish learning the languages? At 26 it’s something that would be best to do between now and 30. After 30 it just doesn’t seem as exciting (maybe I’m wrong). Assuming you’d be putting in a solid and measured effort towards improving job skills (I am a software engineer) and also working on a physical plastic device on the side. Could be productive for that, as there’s something about having a BS 9-5 office job making around 100k that just throws off the “hunger” to hustle, so to say.
Trade offs: 6 months income lost, 6 months lost “career progression”. but the itch has been scratched.
Laughably stupid. Unless you’re rich you don’t deserve a 6 month vacation. When you get rich you have 70 years to enjoy it.
In a less than ideal situation as a 2nd year IB analyst and struggling on the recruiting end. Should I focus on the side business instead and milk the job until I’m pushed out?
Yes just remain top tier and side business. Same strategy nothing really changes in your shoes. If you get pushed out you’ll get another slot in 1 month max anyway. Most everyone gets 3rd year offers
Understood, thanks guys. Will keep at it
Favorite places to stay in Mexico City?
Thanks
Just stay where the money is, Polanco
I made the mistake of staying near Zocalo, getting back from nightlife was a bitch
Type (or brand) of sprint bike (Assault Bike / Airdyne / or whatever gym has) that you like most?
(Only have access to one kind in my area or would just try vs asking for your time and help before making spend and waiting for long delivery time. Thank you.)
Don’t even know the brands honestly, just jump on the bike they have at the gym do intervals and move on. Brand doesn’t matter at all.
Can’t find other transaction ID so will only ask 1 question.
Currently living and working in a tier 1 city as a solo personal trainer, earning above avg for industry, working with affluent individuals.
Been given an opportunity by HNW client to own 50% (Could go down to 25% if other people involved or client decides otherwise once we get to contract phase) of a high end gym in a sort of tax haven mediterranean country (we are in designer phase at the moment but still nothing finalised). I will be running it, he is silent partner.
My question is, client has mentioned to me today he wants to exit in 5 years (he is loaning the new gym company the capital), does this sound like a deal worth carrying on with if I don’t intend to make the new country my home for longer than 3-5 years and could there be a scenario where I get screwed long term?
Thanks for your time.
What are your other options, unless you can get equity in something else this is one of your only shots at getting rich. Hourly income will never make you rich
Thanks for quick reply,
Highly unlikely to get equity in anything as substantial as this.
Other option is continue doing what currently doing where I’ve reached near capacity,
I’ve received an offer to help run a small personal training studio, even then small equity and working for hourly,
Work on an online fitness related product. < not my skillset at the moment.
Writing this out has made me see that best scenario is to make the gym work.
Going to attend a top-5 MBA program next fall. I know the opinion of MBAs here but I want the experience so I’m going to do it. Question is:
In my shoes, how you maximize the brand value / pedigree of a top MBA program for a side business (maybe syndicate real estate deals, GMAT tutoring biz, admission consulting biz)?
Assuming all industries are on the table, what industry is worth targeting for a 2021 mba grad (thinking obvious choices here are VC, PE, HF, Banking, Consulting, Tech)?
1) not sure we never went and so far haven’t seen any success stories the last 7 years or so. Just people going into the same positions and paying off debt over 2 years… The entire value is in networking so get ready to drink a lot and try to meet the right people
2) Tech, M&A banking, PE…. Long drop down… Hedge fund, VC… Major drop down… everything else
What other blogs or forums do you guys follow?
None. Only people on twitter, haven’t commented on a blog or forum in multiple years
WSP,
I will be attending Hack Reactor early next year to change careers from enterprise software sales to software engineering.
1. What would your recommended career progression path be for a beginning software engineer?
(I don’t know if it would be more lucrative to work towards becoming a senior engineer, product manager, or something else a few years out).
2. I have the option of attending the bootcamp in San Francisco or Austin. Is it worth staying in San Francisco at the start of my career if my gross income is higher but I bring home less due to rent/taxes?
Thanks for all your help these past few years!
1) ask them, top guys go to Facebook so you’re good to go. Just get the job at a top company
2) Probably makes sense to go to SF for tech, but we don’t know. Ask around from people who went to that program
These don’t look like real questions btw, just “analysis paralysis”. Be top of the class, then worry about placement.
Currently in Equity Research, in a consistently top ranked team, with clear path to stock coverage in a year or so (they are pushing me to do it).
I joined with the idea of jumping to HF/long only fund type of role a few years down the line but the team is run so smoothly it feels like a dumb move.
Given the above and considering that the next “correction” may be close, would you still recommend HF/long only fund as a superior option over ER (as per your navigating wall street post)?
Depends on pay and your time frame, if you’re getting promoted then your jump to a HF would have to be in-line with the pay you get as an Research anlayst in a year. We’re sure you’re aware but that side of the business is in decline so really comes down to your time frame and how much you can make within 5 years.
Yes Hf/Long only is still better than sell side research long-term.
To wrap it up, since you’re in line for a promotion we hope you have a second stream of income up by now, it should be about time.
Any particular healthy meals that you guys like? I know you discuss diet guidelines and specific types of foods (nuts, lean proteins, veggies etc) in Efficiency but kinda curious for any personal preferences of meals that you can get wherever that is healthy/good. Ie: Poke bowls, Salad etc.
Hate poke bowls that’s a common banker food thing along with sushi. Got sick of that 10 years ago.
Been big on different fish (yellow tail, salmon, tuna etc.) also big on steaks for getting rid of hunger quickly
Been switching to lots of ginger shots as well seems to help the stomach
Dear WSPs
Wanted to rephrase my question and since I have 2 books decided to use my other Q ha.
I’m a 25 yo doctor in Hong Kong making ~100,000per year (usd) Going to start online business this year.
Wondering whether I could/should make the career switch to high finance in order to shoot for a higher salary while working on side hustle. Or just stick to my med career while working on side hustle
Thanks!
Same answer unless you work a ton of hours, choose one with lower hours
Before and After pictures for my product – Are these all fake? Would you buy them like any other creative or could you just use stock photos?
Thanks!
No many of them are real. Also yes you should absolutely use it no doubt
1: Regarding having an on-day: How would you change the day before if you were to train at morning / noon?
2: Don’t have a second question. Just wanna thank you guys for everything and really appreciate your help! I have lost over 33 pounds after following your advice on diet / training in Efficiency and have also actually gained some muscle at the same time. Also, exams have been going great after following your “Studying advice” article. Especially the advice on eating different gums for different classes seems to work wonders.
Awesome congrats on your success!
That’s harder, if you’re a morning person then do everything the same but just work out in the morning. Our experience is it is almost impossible to line up that way because of time constraints. But just work out early and copy the same thing, massage end of day, same diet etc. Maybe one change is you make the morning meal a bit bigger and lunch becomes smaller just to offset the energy usage
No solid tech sales roles in the area.
Want to start a “real” product, so need funds but don’t want to work a random shitty job.
It was mentioned in Efficiency p87 that we would’ve ‘made it the “normal way”’ via a real product, OR ‘have gone full throttle into Affiliate marketing’.
So, for clarity, do you think Affiliate Marketing is a viable way to earn income before starting your ‘real’ product, or would you say we have to take the job route initially?
We’re lower risk on that side, it’s typically better to get a white collar job. This is because no actual work is done in white collar jobs some 50% of the time, people just read facebook and screw around. So it’s free funding for you
I’m currently working as a software engineer in an investment bank.
The salary is pretty good and a job is not too time-consuming but interesting in terms of a business knowledge etc.
I can find a new one and get 10-15% more money.
Should I focus on finding a new job or on starting a side business?
Business no question
What are the best ‘needs’ or ‘hooks’ when selling a product in the make money online niche?
Complete beginners to making money online usually want income security so that they can earn money independent from their shit job, and the freedom to be able to walk away from said shit job.
Not sure what you mean there is literally a full section on this in Efficiency.
Also it says how to get the right sales memos in the book as well depending on what you’re trying to sell. Just look at Tai Lopez etc.
What are the core stretches (what stretch, how long) you guys use to increase flexibility?
You’ve mentioned that stretches need to be part of our routine, but I haven’t seen a specific routine for stretches on the blog or in Efficiency.
In particular, for the lower body 😀
1) Yoga class 1x a week minimum thats a starting point
2) copy said stretches for your routine
3) buy a golf ball and foam roller for loosening up tight muscles/knots
4) stretch for 5 minutes after every shower as your body will be loose
Dear WSPs,
Thank you for a fantastic read.
I’m a 25 y.o MD based in Hong Kong currently making~ 100,000usd post tax.
Planning on starting online business as outlined in efficiency this year
Was wondering what you guys think my odds are in transitioning to M&A, PE, sales trading etc given my background and if low what I could do to boost those odds.
Huge thanks for your time,
BL
this has already been covered in the FAQ. Also if you’re serious about an online business you’re crazy to leave to M&A or PE, you’ll lose millions over the long-term.
Sorry I hve to clarify, MD as in doctor haha
I apologise for hijacking your post. I’m a doctor in London, looking to move my operations to Hong Kong. @BL can you suggest an only forum for networking and understanding what I’m getting into?
By the way, I’m in a similar situation to yours, but looking to invest my extra time into deep learning and ROS. I’m very good in numerics, good with synthesis (med school definitely helped) and okay with intent (originally an asperger’s level of intent but 3 years of interacting with patients and cold approaching women fixed that).
I’m starting to understand going into medicine was the worst mistake of my life
I know you lay in detail the many ways to get involved in crypto aside from just buying the tokens outright but how are you guys personally getting more involved in the space
That is all, not a core competency so just buy when its not in the news sell when its on CNBC constantly.
What are your top 5 ROI marketing channels in 2017-2018?
1) influencers, 2) Instagram/facebook, 3) Google, 4) some propreitary items we can’t disclose, 5) organic word of mouth – we think this last one will move into the top 3 soon.
Thanks
I’m 32 years old, do not have a side business, and need to choose between two jobs.
Option A (current job – scientific research):
– 45h workweek (including commutes), low stress
– high political capital but zero career advancement possibilities
– near zero networking opportunities
– can save/invest 50% of salary
Option B (patent law):
– 60-65h workweek (including commutes), medium stress
– 100% salary increase (thus instantly tripling my savings/investment rate)
– very good networking opportunities
– decent chance to make partner
I’m leaning towards option B as I feel that the benefits outweigh the additional time investment. What do you think? Thank you!
Based on that if you have no interest in a business then yes jump to option B if you’re close to being rich already.
Thoughts on being a real estate agent as a path to riches? In California (silicon valley), average home is 1M+ and alot of agents making 500k+ and 1-4 million/year.
Worried about commission cutting and starting fresh in a competitive market
We have already covered that on this blog and in the books. Yes it works, no its not easy.
Been following you for a while, great content.
Currently building the online business while graduating from college next year: studying MSc digital business. For the past 2 years been doing part-time outside B2B sales for one of the biggest energydrink companies in the world in order to master sales skills.
I’m planning to go the enterprise tech sales route as advised. What can you advise on skipping the entry level role of SDR or BDR and go straight to small business or mid-market AE? Because of my 2-year B2B sales experience with a big (unrelated) firm and my (related) master’s degree, I assume this can be pulled off.
Much appreciated.
We don’t know if thats possible, its much smarter to just go into the entry position and *perform* believing that someone will just give you big accounts with no sales experience is essentially a pipe dream. Since we never did that jump we would reach out and see if someone has, our guess is you’ll get a similar sentence to what we laid out. don’t ask us ask a tech sales person
find a start up that is ramping between pre seed and post series A where there are only a few SDRs and AEs so being promoted to AE is more like moving with the tide plus there are less SDRs and AEs ahead of you. imho product should be ahead of the sales/marketing as you can leapfrog way easier. once SDRs are on a “12 month” track it’s luck of the draw for earlier/later and if you get too good at SDR why promote you unless they have to? depends on risk tolerance but the less SDRs & AEs ahead of you (smaller the company) the higher likelihood you become enterprise way sooner than you should
personal question – been with gf for 8 months, she starts to fight alot about being incompatible every 2-3 weeks, gets mad at me if I dont see her often/call her 2x a day; currently on a week break from our relationship (she initiated it)- i keep wanting to try to make it work, but dont think can marry her since she drives me crazy but i enjoy her company and dont want to be emo when we break up. if she wants to leave, should i let her go?
LOL sorry for this shit, maybe you’ll be bored and answer
Ditch her easy call.
Agree – it’s a waste of time being with someone high maintainence
It’s probably too late to save this one. Be very nice but let women know you have ground rules. She can be with you as long as she is fun and friendly, not a pain.
They may act angry at this initially, but they will respect you for it. Then when they act up you can gently remind them, or you be the one to take a time out.
how do you feel about getting into hedge fund industry during mid 30s? currently 30, would have to get into top MBA, hopefully get recruited to a good place, then start on the bottom of the ladder.
not technically/math gifted, but damn i wanna be a boss
on a side note just for lol’s – what do you think would be an annual income that is considered ‘life changing’? currently making ~400k, but life still seems the same in a normal way, cant really do anything crazy crazy, seems like it’d have to be like $3-5million pretax/year
One question, our answer is still NO. MBA does not help you get into a Hedge Fund go check out our post on hedge fund recruiting. It’s also a horrible time to enter, you want to enter after a crash
I’ve seen people hyping marketing agencies on Twitter lately, consulting business owners, generating leads for them.
What are your thoughts on this exact business model for someone with sales and marketing experience?
Hate to break it to you but never heard of it. We never really use twitter, just for organic growth on this hobby blog. It’s awful for conversions so we dont know what the draw is
Sorry, I didn’t formulate the question correcty. (not native speaking)
What I meant was consulting business owners, generating leads for them like this: FD ads/ad words -> webinar -> lead.
So basically reaching out to business owners, selling them on a monthly retainer where they pay x amounts of dollars + ad spend, and then you set up everything for them and keeps the ads rolling.
What exactly is the question here? You’re generating leads and selling them. Got it. Whats the question
See that Q/A is closed.
I re-read Efficiency last night and found my answer there.
Keep up the good work!
Career question Tl;dr: Late 20’s low 6 fig NW, racing to the 7 fig mark over the next 5-7 years as per Efficiency. Not employed ATM (I know…) but have the choice of committing to one of the two following choices for next 5 years. All other things equal I judge Option A to be ‘least bad’, but do you think I should I be more concerned about walking away from my finance resume/career (and associated upside)?
Option A – Product role @ small tech startup : Peak income in 3 yrs USD150-200k p.a. post tax. + a sliver of equity. Location independent, decide my own schedule. Can start working immediately. Company is profitable and likelihood of going bust seems low. Could develop relevant online marketing skills.
Option B – LO/HF associate roles (in Asia fwiw): Peak income in 3 yrs USD200-300k p.a. post tax (including bonus, at a guess). Standard buy-side work hour/expectations. Resume is solid (left recently for explainable reasons) but not likely to land a role again until March next year at the earliest, however.
Thank you and apologies for the semi-life story – please delete the context if you think I am saying too much
They seem pretty comparable, probably want to go with option A right now but that’s just a gut feel.
Choose the one with lowest hours for highest ability to start something, same old story!
Thanks – bottom line: time left for business building > earnings trajectory for most careers.
Yep. Most refuse to accept this truth
Hey guys,
1st, thanks for writing such great content.
I’m building a product (financial sector, keeping it vague because this is public) which is targeted towards what I call “smart non-insiders” (top 30% income, with some savings).
(1) When selling, do I appeal to their greed or their desire to be safe and sensible (can’t really relate to them yet)?
(2) Given that my product is going to be fairly affordable, do you think it makes sense to engage in a “freemium” type of business model to attract more potential customers, or simply price my product slightly higher and put more effort into customer service and feature updates?
If these Qs seem basic it’s because I’m 19 trying entrepreneurship for the 1st time. Thank you for your time.
1) yes this is right you want to target the get rich crowd same story as what all those programs do
2) probably not, better to give them something for free then give the real stuff at a high cost
That last part is just awful, if you’ve never done this and want to go into financial services you could be running in the red for a LONG time. please read the last 3 chapters of efficiency again.
Love how you knew I needed to reread the socialization and dating sections along with the weekly schedule! Thanks, and I actually mean that. I have a career track in mind (I’m very good at math and synthesis and go to uni) and wealthy parents (not that they spoil me, they’ll just cover my ass if I fail within reason) though.
Question:
If you run successful businesses and investments that do not need your presence in the USA (online business), then does living in the USA still make sense if you can enjoy a better lifestyle everywhere outside of the USA? Overseas your purchasing power is much higher, women are on average better looking and more feminine, and culture is more wholesome and less focused on materialism. I’m specifically talking about Western Europe, Eastern Europe, Asia and South America.
Not really, the problem is really services and lifestyle. What you should do is live in the place with the women you like for about a year. Let us know how you like the quality of life (usually a bit worse). Guy who complain about the USA are usually just losers who have to leverage their passports to get get attractive women (surprise surprise any guy who makes $50K a year is rich in places like thailand, but this ignore this fact).
Anyway, it is a personal decision our guess is you do it and come back if you’re rich. If you want to have kids then obviously you must stay in the USA and don’t want to raise your kids somewhere in cambodia.
30 y.o, tech sales, 7yrs exp as IC. Fight for manager role ~$350k or continue as an IC ~450k to $550k?
Already have side biz $400k revenue, $100k net profit.
Choose the one with the lowest hours. Easy call since your side biz should be able to go to $1,000,000 if you broke $300K already.
Any predictions on bitcoin price during the next economic recession, and what it will be in the next crypto bullrun?
Also optional question: any experiences with beta carotene supplements?
Thanks for putting up quality content
1) probably nothing until 2020 you need adoption and the number of users needs to grow a lot more to drive the price up. Our view is middle 2020 you see a big move
2) never used it, we actually don’t do many supplements just some protein and healthy diet.
1. Finished working 1 year at a small PE family office – We haven’t done many deals (things are looking up, though). I would like to continue in finance (PE or IB M&A). I’m worried that my small deal experience (and non-target school) will prevent me from moving to a larger firm with better pay. (my technical skills were always lacking in prior interviews)
I’m planning on staying here at least 1 more year. I’ll continue working on my side business and networking with the firms outlined in book. If I can’t get into one, it seems like Enterprise sales would be good to transition into? Any thoughts here? Better to go to ES or continue working at small firms while I build my business.
If it is better to go to ES instead of MBA, I will get a job doing tech sales part-time for a startup.
2. If I go to enterprise sales, I have a good shot through my network at getting into the SAP sales academy. It’s 9-month program but seems like it gives a head start to tech sales? (Not necessarily for WSP -open question if anyone is in industry)
1) go into sales
2) spend time on side biz
You’ve been here a lot and keep spinning wheels looking at 10 different options at once. Search function for “juggler”. Stop messing around, get a job with highest dollars per hour and get a biz up and running, time is running out.
I’m working as software developer in a bank and I’m located in Europe (a big non-English speaking country).
The team members are from different different countries in Europe but managers are from US.
I don’t have problems using English on daily basis but I feel my writing and speaking (accent) isn’t fluent and natural enough.
How can I improve it?
Cannot help here as we’re born american. We would go and reach out to people who speak well but were not born in the same area and ask them for advice our information is not useful as we never had an issue.
Duolingo will help. Paid version. It has speaking modules as well.
Netflix, particularly stand up comedy, is great for Americanizing fast.
What do you guys think about the essentialist approach to life/work?
I’ve been strugling to deliver solid results at work due to multiple demands from diferents managers at the same time.
Thanks a lot!
We don’t know what that is. Our recommendation in work environment is only please the top managers. The other guys don’t matter and if they hate you it is actually better, you work less and they can’t get you fired. Then spend rest of time getting to work on something else.
Thanks for the great content. What is your stance on dating nowdays? You prefer stable LTRs, spinning multiple plates or just being single with some occational ONS trown in?
Our stance is basically do what you want and if you’re rich and in shape only socially awkward people suffer. We don’t really care what someone does, it’s their own choice. We’re still negative on giving up 50% of assets for nothing so still a big no on doing that.
1. How would you guys go about negotiating a bonus structure/compensation working in user acquisition roles for a tech company? As you guys mentioned, it’s really just online sales but not a traditionally bonused role on Wall Street.
2. What would be your ideal product to sell to a target market of young woman 18-35 (tangible, reusable product with higher margins). Hoping for specifics beyond *beauty* products.
1) We would focus on being paid in acqusitions/sales. Essentially just tie it to an actual metric you can track so its performance based. Avoid any sort of “black box” compensation structure. The metric matters less than your ability to track it and grow it.
2) we actually don’t know, you put a range of ages we would never touch. You’re talking about 3 very different demographics in our opinion. So if it’s that wide we’d go with a trendy fashion item like the success of elephant pants
Stay at large startup in NYC ($1bn+ valuation) or move to well-known large tech firm (FAANG) at home?
Moving to large tech firm means no rent costs + ~35% increased total comp (same base, liquid equity), which can be used to start investing in a business. Is it worth the downside of losing out on startup options (could be big if IPOs) + negative impact to social life (nyc->suburb)?
Unless you have a lot of equity to the point where an exit would result in $200K+ it doesn’t really matter (we assume you’re in mid 20s).
If you’re really young, 21, we would go with the start up and roll the dice a tad. If you’re older say 30, stick with the big company for stability while you just build something bigger on the side.
How did you first build your twitter following? Did you take an “if you tweet it, they will come approach?” Or did you leverage a resource/take a more strategic approach?
No clue, just started writing. It’s more about commenting on popular places with correct info (we started with Wall Street stuff) then once people realize you’re legit they will follow after that. Since then just a hobby. Never bought a follower but some random bots definitely follow probably 5% or so.
I’m a programmer and soon I want to create online courses in my area. To do this, before, I want to start working with Affiliate Marketing to gain some skills with traffic, offers and sales.
What is the best white niche to start and get some results?
Thanks
You would want to join an affiliate program that targets your demographic. So take the affiliate listing and figure out what age/gender/group it targets. Then put your target audience next to it. Then you simply choose the one that is closest and go and start selling that product.
Easy enough, if you can’t sell it then you are going to be in big trouble since selling a successful product is a lot easier than a brand new to market one.
Brain boosters have been played out. What do you see next for supplements?
Not sure will have an update if we see another obvious market
Diet products have been “played out” for years. Doesn’t mean you can’t build a killer product.
What are your thoughts on hiring a cerfified financial planner like a lot of these books on money say when you have a high net worth? Thank you
Hell no.
Thanks for the QnA, my question is:
What would be a minimum budget required to buy decent online properties (ideally ad revenues or amazon affiliates)?
I have built some decent properties in the past and managed them, but not sure how to evaluate them when someone else sells them, besides the obvious spam & flip.
Thanks!
12x monthly sales is usually a floor valuation unless its really terrible
I didn’t phrase my question correctly, I meant from what threshold and above are usually decent properties since most properties at 3K or so are trash?
Probably $60K minimum. Around there
Hi WSP,
1) Am considering doing adult affiliate marketing and want to know how to maintain anonymity? I am concerned that if such information gets leaked (that I engage in selling adult products) it would look bad for me given my line of work. Using fake names and details may work but would receiving payment be an issue?
If the above is considered two questions, then ignore the below question.
2) You guys mentioned blogging is terrible. But how is affiliate marketing different from blogging? Bloggers put affiliate links on their post for people to click (like your site with approved products section)
Thank you.
1) when you do affilaite marketing literally no one knows hwo you are so its not an issue.
2) it’s not even close, blogging is a constant update model, affiliate is a paid traffic model. Not even in same league
1. Currently have about 2 years exp as a mech eng at one company and still employed there.Going the consulting route, (name.com), would you advise on putting projects that I have worked on at my current job on the site or do you foresee any intellectual property issues down the line doing this?
2. What format do you recommend for your landing page for your aff site, that utilizes paid traffic – ex. Native-ad like w/ content vs a sales page like format (similar to Clickbank offer) pages)? Let’s say we are talking about pain meds for this ex.
1) should be fine clear with Company if worried
2) This is the same answer and always will be. You have to find the guys selling the product and copy theirs as a template. There is no right answer since it depends on demographic. Get a a clean computer look for pain meds over and over and then watch the ads change and copy their style
Currently based in Singapore for a semester. Any cool places to check out around SE Asia for weekend trips?
As stated before no real experience with Asia, can’t help!
Recommend Bali and Phuket
what is % chance you will write the 3rd lifestyle book for a full trilogy?
Pretty high probably 75%
What are your daily/weekly skincare routine to keep youthful skin? (ex. tretinoin) And do you do anything quarterly/semi-annually for skincare? (ex. botox)
Thanks WSP!
Absolutely nothing. Same stuff just clean diet, don’t use any products
I’m attending 10X Growthcon 3 in February 2019.
What question, or how do I word myself in front of potential clients if I have no previous testimonials? I want to add value to them, but I’m not sure of the wording. What would you have said?
No clue how to help don’t even know what 10x growth con is… sales is all the same, same resources same strategy every time. Nothing in here gives us an ability to help
Good day WSPs,
I’m living in one of the smallest and weakest countries of the European Union where IB industry is pretty much non-existent and the average NET monthly salary is ~700euros. Currently I’m working a regular white collar job and managing to save 400euros each month. My goal is to build a net worth of 2 million euros.
At the moment I see only two options:
Option 1) Start an online business (probably affiliate), however I am not sure whether I should start with the paid traffic because 400euros/month seems to be too little amount for ads testing.
Option 2) Move to a stronger economy such as Germany and try to build a local business or career there, however I would need at least 2-3 years to learn a language and adapt in a new country.
Which option would you recommend to choose? I’m in my early twenties.
Easy both. Move to country with highest possible wage that is possible then fund your biz with that.
I have a simple plastic product I am prototyping right now. It hits a painpoint for the social media (me me me) generation, which I feel is a huge market. Plan is to finish design, test, iterate with feedback from close friends/family, hone in on marketing niche (who does it help the most = who to sell to), and then 3D print or do a low volume for organic distribution in NYC to “spread the word” and collect feedback. I would create a landing page or shopify type store, and after small organic success I would contact some IG influencers I personally know or could contact and see if they want to use it if they like it.
I’d have it built locally in the US to cut out initial Chinese copiers, and the sale price would be about $10 (lower margins).
Have you, or do you know people who have had success with this type of route? Or are most people just doing the same old products but rebranded to a new niche they’ve identified? First time attempting something like this. Thanks.
(can you guys remove the 2nd sentence once you answer? thanks again)
Sure it works, not sure what to say beyond that, it’s a basic way to start something small. We don’t know what you’re selling but its a common route
What do you guys think about taking off 6 months to travel in between jobs, really getting to know 2-3 countries, and finish learning the languages? At 26 it’s something that would be best to do between now and 30. After 30 it just doesn’t seem as exciting (maybe I’m wrong). Assuming you’d be putting in a solid and measured effort towards improving job skills (I am a software engineer) and also working on a physical plastic device on the side. Could be productive for that, as there’s something about having a BS 9-5 office job making around 100k that just throws off the “hunger” to hustle, so to say.
Trade offs: 6 months income lost, 6 months lost “career progression”. but the itch has been scratched.
Laughably stupid. Unless you’re rich you don’t deserve a 6 month vacation. When you get rich you have 70 years to enjoy it.
In a less than ideal situation as a 2nd year IB analyst and struggling on the recruiting end. Should I focus on the side business instead and milk the job until I’m pushed out?
Yes just remain top tier and side business. Same strategy nothing really changes in your shoes. If you get pushed out you’ll get another slot in 1 month max anyway. Most everyone gets 3rd year offers
Understood, thanks guys. Will keep at it
Favorite places to stay in Mexico City?
Thanks
Just stay where the money is, Polanco
I made the mistake of staying near Zocalo, getting back from nightlife was a bitch
Type (or brand) of sprint bike (Assault Bike / Airdyne / or whatever gym has) that you like most?
(Only have access to one kind in my area or would just try vs asking for your time and help before making spend and waiting for long delivery time. Thank you.)
Don’t even know the brands honestly, just jump on the bike they have at the gym do intervals and move on. Brand doesn’t matter at all.
Can’t find other transaction ID so will only ask 1 question.
Currently living and working in a tier 1 city as a solo personal trainer, earning above avg for industry, working with affluent individuals.
Been given an opportunity by HNW client to own 50% (Could go down to 25% if other people involved or client decides otherwise once we get to contract phase) of a high end gym in a sort of tax haven mediterranean country (we are in designer phase at the moment but still nothing finalised). I will be running it, he is silent partner.
My question is, client has mentioned to me today he wants to exit in 5 years (he is loaning the new gym company the capital), does this sound like a deal worth carrying on with if I don’t intend to make the new country my home for longer than 3-5 years and could there be a scenario where I get screwed long term?
Thanks for your time.
What are your other options, unless you can get equity in something else this is one of your only shots at getting rich. Hourly income will never make you rich
Thanks for quick reply,
Highly unlikely to get equity in anything as substantial as this.
Other option is continue doing what currently doing where I’ve reached near capacity,
I’ve received an offer to help run a small personal training studio, even then small equity and working for hourly,
Work on an online fitness related product. < not my skillset at the moment.
Writing this out has made me see that best scenario is to make the gym work.
Going to attend a top-5 MBA program next fall. I know the opinion of MBAs here but I want the experience so I’m going to do it. Question is:
In my shoes, how you maximize the brand value / pedigree of a top MBA program for a side business (maybe syndicate real estate deals, GMAT tutoring biz, admission consulting biz)?
Assuming all industries are on the table, what industry is worth targeting for a 2021 mba grad (thinking obvious choices here are VC, PE, HF, Banking, Consulting, Tech)?
1) not sure we never went and so far haven’t seen any success stories the last 7 years or so. Just people going into the same positions and paying off debt over 2 years… The entire value is in networking so get ready to drink a lot and try to meet the right people
2) Tech, M&A banking, PE…. Long drop down… Hedge fund, VC… Major drop down… everything else
What other blogs or forums do you guys follow?
None. Only people on twitter, haven’t commented on a blog or forum in multiple years
WSP,
I will be attending Hack Reactor early next year to change careers from enterprise software sales to software engineering.
1. What would your recommended career progression path be for a beginning software engineer?
(I don’t know if it would be more lucrative to work towards becoming a senior engineer, product manager, or something else a few years out).
2. I have the option of attending the bootcamp in San Francisco or Austin. Is it worth staying in San Francisco at the start of my career if my gross income is higher but I bring home less due to rent/taxes?
Thanks for all your help these past few years!
1) ask them, top guys go to Facebook so you’re good to go. Just get the job at a top company
2) Probably makes sense to go to SF for tech, but we don’t know. Ask around from people who went to that program
These don’t look like real questions btw, just “analysis paralysis”. Be top of the class, then worry about placement.
Currently in Equity Research, in a consistently top ranked team, with clear path to stock coverage in a year or so (they are pushing me to do it).
I joined with the idea of jumping to HF/long only fund type of role a few years down the line but the team is run so smoothly it feels like a dumb move.
Given the above and considering that the next “correction” may be close, would you still recommend HF/long only fund as a superior option over ER (as per your navigating wall street post)?
Depends on pay and your time frame, if you’re getting promoted then your jump to a HF would have to be in-line with the pay you get as an Research anlayst in a year. We’re sure you’re aware but that side of the business is in decline so really comes down to your time frame and how much you can make within 5 years.
Yes Hf/Long only is still better than sell side research long-term.
To wrap it up, since you’re in line for a promotion we hope you have a second stream of income up by now, it should be about time.
Any particular healthy meals that you guys like? I know you discuss diet guidelines and specific types of foods (nuts, lean proteins, veggies etc) in Efficiency but kinda curious for any personal preferences of meals that you can get wherever that is healthy/good. Ie: Poke bowls, Salad etc.
Hate poke bowls that’s a common banker food thing along with sushi. Got sick of that 10 years ago.
Been big on different fish (yellow tail, salmon, tuna etc.) also big on steaks for getting rid of hunger quickly
Been switching to lots of ginger shots as well seems to help the stomach
Dear WSPs
Wanted to rephrase my question and since I have 2 books decided to use my other Q ha.
I’m a 25 yo doctor in Hong Kong making ~100,000per year (usd) Going to start online business this year.
Wondering whether I could/should make the career switch to high finance in order to shoot for a higher salary while working on side hustle. Or just stick to my med career while working on side hustle
Thanks!
Same answer unless you work a ton of hours, choose one with lower hours