Friday, January 30, 2009

Business Ideas For Becoming Rich

Investment advisers on talk shows like Suze Orman and Dave Ramsey say that if you have any money you should invest in realestate. But this mostly applies to first time home owners and not the people that just lost their job and are selling their home at a discount now.
I can afford this now and I could rent out a room of the house for 200$ a month and pay the rest of the 600$ mortgage payment myself and saving 2oo$ on rent is mathematically the same as working an extra 30 hours a month at a 7$/hour job.
Also I'm trying to start a comic book buying and selling business using the same method as everyone else. Buy at 25% sell at above 25% of book value. The more volume you sell the less mark up you need on each individual comic, and therefor the more customers you get. That's how super markets work, because they only have a 2% mark up on each item but they sell huge volumes.
And even if I can't beat the competition and I only sell for the same price that they do, I'm still getting half of their business.
I would be providing selection of cheap good reading material to the buyer. And I'd be providing quick and easy cash at the same price as ebay to the seller.
This is also low risk because you can always get out of the comic the amount of money that you put into it, if you ever need to end the business.
And I chose to specialize in golden age and silver age because those are comics that people will always want to read and buy.
And I can tell you this because there is lots of room for competition because of the millions of comics that exist out there.
Eighty percent of success is just showing up. - Woody Allen

I chose comics because that's what I have the most resources in. My resources being:
  • I already have a comic book inventory
  • I have extra money every month to invest in whatever I want to.
  • I know how comic book buying and selling works.
  • I like doing the work
  • I can do it in my spare time because I find it fun and it doesn't require much time.
  • There is low barrier to entry. Meaning I can start it immediately and cheaply and easilly.
Of course this business model would work with any type of collectable. Toy trains, coins, video games, art work.
Also if this business works, the business will grow faster than getting raises at my job, and it's all under the table profit, and I can then get onto free medication programs because I will be considered to have low income, and there's low overhead, and I'd be my own boss, and I'd have all of the vacation time I wanted, and I'd be paid to read comics, and I'd just reinvest any profit into more comics and better comics until I emmassed a fortune.
My friend at work said that he once worked for a guy that bought and sold coins for a living, and one day his boss drove up in a Ferrari and said hop in. That's the kind of money you can emmass in the consignment biz.

But this is all if I don't already get rich off of my Zenn stock that I'm invested in, which might be the next model T ford company.

No comments: