Q&A now closed, due to redundant questions we have a lot of new readers and need a summary post to avoid a repeat. Thanks and will do another shortly!
© Wall Street Playboys
Q&A now closed, due to redundant questions we have a lot of new readers and need a summary post to avoid a repeat. Thanks and will do another shortly!
Work in pro sports selling long term suite leases. Seems this industry will be the last to come back from Covid. Would you recommend looking elsewhere for a sales job or riding it out for now? Seems fans won’t be back until 2021 minimum.
No comment never worked there
If you want a baseless opinion we’d leave
I made a free (non-monetized) app with only 3 active users despite 30 days released (15 installs, 12 uninstalls). Is it worth spending $1.5k to upgrade the server? I have $5k liquid, so it is 30% of my liquidity. I make $1k/week, worried if I lose my job I’ll have to survive off my savings for many months. But since I own the server I could use it for a few years unless it gets stolen, and expand my range of products.
Doesn’t sound like it? We don’t have experience with those apps but unless its going to make you money hard to see why you’d do this with only 3 users and no revs
I have been running Facebook ads for the past few months to drive downloads for my paid apps.
Have you had better success running ads everyday or putting a lot more money and running the ad for a few days?
depends on the market, most of ours run every day.
Some markets sales only show up on certain days of the week, so do the research and adjust accordingly.
On January of 2020 I just updated to equinox as per your suggestion from an old post.
I’m in NYC and all the gyms,beaches, parks, etc are closed for working out. I tried setting up a home gym which I have a small spare room but almost all gym equipment is sold out online and offline or very limited. I canceled my membership due to COVID 19. What can I do or get to keep in shape at home since there are no other options? THANK YOU
All you really need is a barbell and weights + heavy dumbbells and you can do the vast majority of exercises.
With those two items you basically have everything needed.
How can I care less about day job? With everybody WFH it just never stops, and with uncertainty everywhere I’m trying to stay relevant within the company. But, I need to make more time to start a profitable online sales business (last attempt didn’t work). Hard to compartmentalize with time management within an “always on” environment.
You have to find ways to make your job easier. Outsource to other people, become more creative with no over sight.
If you’re working long hours, you’re not playing the office politics game correctly
Real estate inheritance & parental care dilemma question (tried to keep brief as possible)
– Parent (52yo) with owns valuable but totally undeveloped ancestral land in core urban part of major developing city in a fast growing (7%+ GDP avg growth per year) democratic country in Asia. Land valuation is $0.5-1 million USD in a down market, probably $1.5-3 million when RE market has recovered in 2-3 years – commercial OR residential building possible on land.
– Parent due to combination of poor decisions / low capital didn’t build income generating RE asset on land in lifetime but still held onto land somehow without selling. Parent’s net worth near $0 when I exclude the value of land.
– Parent, due to mediocre health, only earns enough income in a Western nation just to be just above poverty line and gets by renting a crappy apartment, while also taking care of younger sibling (13 yo) who is disabled – no chance parent will ever develop the land. Sibling will likely never be able to earn any serious income in adulthood due to disability.
– I’m mid 20’s at $20K net worth, with monthly income of $5K (day job salary + online biz income) but expect that to grow to $11K/per mo. due to growth of online biz in about 12 months. It is expected that I will inherit parent’s land if it isn’t sold.
Will take me about 3-5 years to acquire enough capital take the risk of developing the land & build income-generating commercial or residential real estate asset. Have family connections/ familiarity with the non-Western country, enabling me to get past red tape/bureaucracy, if any.
Should I:
1) Support parent and sibling for next 4-5 years and significantly shoulder their housing/living costs (parent lives in high cost of living city and unable to leave due to access to medical care) – and eventually develop real estate on the land in coming 4-6 years – rental income generated will cover living costs for myself, sibling, parent likely for our lifetimes.
2) Encourage parent to sell land in the coming 1-2 years when market recovers for potential $1.5-3 million, invest some of it, immediately improve their standard of living and live more comfortably for reminder of lifespan + leave sibling with funds for their care too.( I don’t really need the money).
This is a life story. Question denied you can ask again with three sentences (MAX).
If you can’t do this then come back next month when you can.
When responding put ****Three sentence question*** before posting the comment. Otherwise will be deleted again.
Regarding the 2% RE buying rule, it seems it is almost impossible to find an investment property in lets say California (or even on the east coast) to meet that criteria. In most cases, you are barely hit 0.8-1%.Would you then recommend looking elsewhere or wait for prices to get more attractive?
Look elsewhere
1. I’m a sophomore in college not sure of what career path to pursue but leaning toward tech sales. Already working on an online business but would it be smart to learn how to code in my free time? (While still working on sales skills, design, self evaluation etc)
2. Do you think Reading the Wall Street Journal provides value?
3. Any tips on how to keep pushing after hours of work?
1) find out what you’re good at. Both will make good money so again… do what you’re good at. Not what you love
2) No
3) No motivation is for losers
1) Company announced mandatory WFH is ending soon, but said that coming into the office is optional. I like WFH way better. What would be the political cost of not going into the office?
2) Making ~88K yr all in cash. Getting an equity payout of about 20k/yr (at current valuations so who knows where it will go). I’ve read that you recommend a time for money exchange to get over a 100k before moving onto a product focused biz. Since I live in a medium cost of living area, am I right in assuming that my current cashflow is enough to go straight to the product biz? Or should I stick with time for money for now? (Parents also willing to partially fund side biz if they like the idea)
3) Regarding this tweet.
“And another one.
We’ll say it again. Tech is best positioned to work remote. If you can’t figure this one out and capitalize the world will be a tough place.”
In terms of capitalizing, are you suggesting here that you believe that everyone should get one of these remote tech positions and use that extra time for a side biz? Or that you should take advantage of the new RE opportunities that are coming up?
Thanks for taking the time.
1) political cost is no promotion. If managers going in (above you)… you have to go in otherwise someone else will and take your spot. Prisoners dilemma. If no one ever shows up again you’re fine
2) You are correct, do some time for money if you’ve got free time and cash flow is that low
3) It means any city with tech presence will see decline in RE. The bad part of work from home is lazy people now get to compete with everyone around the globe. Good luck to lazy administrative assistants competing with people in India and Asia for those cushy $60-100K jobs booking flights and meetings that no longer exist
1) I have job experience and my own startup in SaaS (no funding, closing some big clients with no sales experience etc).
It’s growing but slowly. Should I keep at it and aim at one big liquidity event (might take 10 years) or diversify to 1-2 other businesses that are not going to make me rich but might provide additional cash flow to enjoy my 30s?
2) Given the above, if I try a second route before rich, should I try my hand at B2B wholesale with no experience, or stick with SaaS?
3) Surprisingly, things look pretty tame given major industries are dying due to covid. When do you see all this blowing up and to what proportions?
Thanks and enjoy your weekend!
1) stick with one project as long as growth is double digits. If it stalls start the other ideas and sell the original (rough idea). No clue about your cash flow situation so can’t comment
2) seems like you should stay with saas given success
3) already covered
From our paid Facebook ads, one of the apps is getting one of these two responses:
1) I love it
2) It should be free & I won’t pay for it
How much money do you recommend putting into ads to decide if it is a worthwhile business and to validate it’s the right audience we should be targeting?
So you have no useful information. Unless you put a price out there you basically wasted time getting these “responses”.
The only response that matters is a paid purchase so your info isn’t helpful.
Hate to break it to you but surveys dont mean anything. For example everyone says an iPhone is over priced. But then everyone buys it anyway. Opinions are not equal to sales
a) I have been wondering for a while why you guys think that juicing greens is good for energy/recovery levels? Is it anecdotal? Not even the carnivore/keto community has an explanation for that. Just Cernovich who used to have a company selling this jucing stuff or something.
b) Would an IT Business Analyst role qualify as “Sales”?
Thanks!
1) because we have partied hard a zillion times and by taking a green juice or other products mentioned here we have seen visible improvements.
2) No.
What’s the best way to buy Bitcoin? I’ve seen conflicting advice online.
Over the counter peer to peer is ideal. There are thousands of meetups world wide
I think I’m getting addicted to money.
I hit a big milestone thay increased my annual cash fkow and freed up 40 hours a week the time. I kept my lifestyle exactly the same for 6 months but i couldn’t take it anymore and blew 5k in a single vacation. Kept my lifestyle the same after this for another two months and blew another 2k one time.
Even if I make ‘mistakes’ my net worth abd income are so much higher than anyone else from age – 25 – that numerically I am still leagues ahead of them.
What else can I do here to avoid the bender?
Nothing. You’ll go through this no matter what we have covered it in older posts. Best to get it out of the system ASAP. You’ll suddenly lose interest in it, just how it works
Thanks, I’ll keep that in mind.
1)
Have a biz idea where monetization would be from ads/exit at some point. Tech heavy. My idea is to outsource development till a solid MVP, then get users and then try to find a good CTO (with some %) before start pitching for capital for faster growth. Thoughts?
2)
Keeping touch online with other high achievers:
I want to create a rough cadence plan for keeping in touch but not too much as we’re busy doing stuff. Any ‘etiquette’? Occasional chat messages or rather a virtual coffee meeting once in a while? I know it’s contextual.. but any guidelines how often?
3)
I had an old boss write to me a good recommendation. She offered to go get an official company stamp on it, text looked helpful. Then I ended up not needing it, and asked her to post it on Linkedin for me. She ignored my msg. Now, 2 years later, I asked her again friendly (like nothing happened). She left on read again.
We had a friendly but strictly professional relationship. I just have no idea why I don’t have enough social capital to have her do this 2 minutes copypaste task. She wrote the whole text in vain at this point. What would do? At least, I want to understand the dynamics, but also not being butthurt.
1) Yes could work never done it before so can’t add on top of that
2) No. If you’re a winner you end up attracting winners. This is why you can look at a contact list and see if the person is successful or not. These questions usually = some guy with no value trying to trick his way into areas he doesn’t belong. If you have value your network comes to you it isn’t nonsense Naval is correct.
3) Wont matter sounds like a waste of your time? Not even sure why you’re asking her for it if you already don’t need it. You’re wasting your own time
1.) What are the top 2 or 3 endocrinology/HRT/TRT books you recommend or found useful?
2.) Do you keep all Crypto on single hardware wallet or spread it out among multiple Trezors/Ledgers?
Thanks for all the great info!
1) No recommendations, go find a private doctor as stated in Spending
2) Spread out
In regards to the first question…look at the underlined sentence on page 92 of the book you’re reading.
Who is the friend the authors have mentioned, by name, in another question on this Q&A?
Who has that same friend, who the authors somewhat regularly communicate with on Twitter, had podcasts with on this exact topic? (Hint: The same person with multiple bestselling, highly-rated books on Amazon in regards to this subject.)
I could be wrong, but that’s the conclusion I came to when I had the same question when the book came out.
I bought the more recent book by that person on Amazon and checked out that person’s IG, where they somewhat recently recommended a new product.
That said, the knowledgable private doctor is what is needed to actually pull the trigger.
Good luck.
As a 25 year old, I understand I still have a lot of time left to live. However, I have lived long enough to witness how fast time flies. I can remember being 14 like it was yesterday.
And even though I am getting closer to where I want to be day in and day out, I find that as I have gotten older I have gotten more paranoid about how fast life goes. The good news is that I have gotten very obsessive and disciplined about business & have increased my income substantially. But even so…
Even on my best days, I worry way too much about the passing of time and need some advice on how you were able to manage this fear of wasting time/getting older/not being young anymore?
Never had this issue so can’t help. This sounds like a problem for art majors or something? Don’t think you’re on the right website.
Just focus on things that matter this rumination is a colossal waste of time
Hi WSPs – Thank you for this questionnaire. Would you say white hat lead gen on Facebook is still profitable? US Traffic.
Or it makes sense to run E-Commerce affiliate marketing. Reason is people would shop online as opposed to car insurance/ refi at this point.
Yes because it is a large enough market that there are always holes to fill
Do/did you have a personal net worth figure that you want/wanted to reach (perhaps by a certain age)?
Why that figure?
Has this changed?
This is in Triangle Investing.
Mid tier BB need to choose coverage group, which is safest/best in coronavirus out of FIG, Tech, and Industrials?
Tech. No explanation needed
Does PE develop a better skillset for creating/running your business vs IB?
No clue, never went into PE, from what we’ve seen no real difference in success rates. Although some troll will disagree no doubt
My question is how can I figure out how far I can push the envelope in terms of the aggressiveness of promotion WITHOUT getting put on the radar of some governmental organisation?
Never had an issue here… So not sure what you’re doing. As long as its not illegal products you’ll get banned at worst 99% of the time.
Basically looking for confirmation of my current thought process.
– Currently making 100k pretax total comp @ 24 yrs old in a 2nd/3rd tier city. Saving ~50% of net income
– WFH has allowed me to focus attention on studying copywriting and creating content for my nascent brand more than I usually would
– About 60 hrs / week actually working on day job (busy season) and 20-25 hrs on brand.
– This drops to 25 hr/week post 6/1 and I will then be able to go all-in on my brand.
The twist…
I have been in contract negotiations with competitors and just secured an *INITIAL* offer that will increase my total comp:
– Year 1 150k and Year 2 175k guaranteed
– Additional bonus incentives based on business production that could push me above 200k. A meaningful salary increase.
Action Plan:
– I will go back to current employer and ask for a matching offer. I probably will not get that, but if they get within 20k of current offer (130k Yr 1 + bonus, 150k yr 2 + bonus) I will stay. The tradeoff between time commitment, politics, and responsibilities would not justify the additional 1k/month cash after taxes.
– If my current employer balks, I have to take the new job and try to negotiate a severance package for added security. It is just too juicy to pass up a 50% increase in salary
It’s in the back of my mind that now is a tenuous time to move given market uncertainty, but I want to maximize my career salary while it matters, and my industry is recession proof (it actually sees increased demand and revenue).
What would you need to move right now if in my shoes? 100k is pennies and I need some additional salary uplift to go all in on product design.
Your strategy looks sound. Not sure what else to say, would go with your plan.
Also if they don’t match all the way you probably want to take it because your hours are guaranteed to be low, if you switch the political process starts all over again and your hours go way up
450k @ 35 hr / week – Google
525k + 100k signing @ 45 hr / week – Facebook
550k @ 50 hr / week – Stripe
The Google team is super boring and I can barely get myself interested in it. Stripe has the best team, problem, and an amazing manager who I’ve heard great things about. But the stock is private. They claim they’ll IPO in a few years but I’ve heard that one before.
Which should I go for? Is Google still the option given the hrs per week, even if I’m going to hate the work?
All look pretty good but would probably choose facebook because instant cash for signing = could buy RE or a small company during this pandemic as people are strapped for cash
I am Brazilian and a specialist in Media Buyer. I will spend three years in the USA developing my English.
I am thinking of producing women’s shoes in Brazil and exporting them to the USA to sell on Amazon FB.