๐Ÿ”ฅ4โƒฃ0โƒฃ0โƒฃ0โƒฃ๐Ÿ”ฅ

๐Ÿ™ Thanks so much to you all!

I love the support we all give each other on this side of Twitter

I'll share a story of how I bet on myself and hopefully inspire at least one of you to do the same

[An autobiographical thread]
Seems like a lifetime ago, I took a steady office job at a medium size family owned company.

I was making $13/hour and was happy about that.

But immediately I felt the disappointment of having an unqualified manager, only in charge bc of tenure

I promised myself I'd stay...
...only until I finished my Bachelor's (was taking night classes)

When I finally graduated, the economy started a downward spiral, so I felt stuck

I'm now 5 years into this job - performing fine but definitely not doing anything extra.

I've gone from $13/hr to...
...around $22/hr. Good money, safe company, full benefits

I knew I'll never get fired but also never get promoted.

My boss had 4 daughters in college at the same time, so he was never leaving. I'd be stuck behind him forever

Now I got comfortable and complacent...
And that's what I kick myself for looking back.

Before you know it, another 5 years zoom by-

I was doing a good job and got up to $28/hr but was bored out of my mind every... single... day...

Then one day I was approached by an ex-sales rep - he started an ecommerce business
This was super interesting to me even with ZERO ecommerce experience

6 months later I left my secure, full benefits $58k job for a $40k startup job with no benefits & no guarantees

My old job was shocked. People never quit those safe jobs

If you've never worked at a startup...
I highly recommend it.

The energy is amazing, its you-against-the-world, and the impact you can have on a small team is enormous!

In 1 year, we wound up doing:

$7 million on Amazon FBA &
$3 million on Shopify

...and then flamed out wildly, completely bankrupt
... but that's a story for another day

I went on to get another corporate gig at $95k

Did that for 2 years...

Until I left it for small 9 person company, making $100k+

Moral of the story-
1โƒฃ Bet. On. Yourself.

I could have stayed at my boring 9-5 for life...

But I took a chance. And even though it didn't work out, it springboarded me to greater things.

2โƒฃ No experience, so what?

It's crazy to base your future jobs only what what you've done in the past...
If something interests you, try it! Take those chances while you're young

3โƒฃ Work at a startup ๐Ÿ—ฃ๏ธ๐Ÿ“ข

I can't say this loud enough. The highs and lows are amazing.

You'll learn more about business in 6 months at a startup than a 4 year business degree.

I know - I did both.
I still carry that startup mindset with me to this day

It's why I love this part of Twitter!

I hope you got some inspiration out of my story! ๐Ÿ‘Š

TL;DR I doubled my pay in 5 years by leaving a safe office job for a ecommerce startup despite 0 ecom experience.

Bet on yourself!

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More from @BusinessFamous

2 May
Warren Buffettโ€™s Top 10 Rules of Investing, Twitter meme style

[THREAD]
Rule #1: never lose money

Rule #2: never forget Rule #1
Rule #3

If the business does well, the stock eventually follows
Read 11 tweets
10 Mar
๐Ÿ’ฐ๐Ÿ’ฐ๐Ÿ’ฐ

How to get rich - without getting lucky:

(Naval's thread was awesome but this is mine)

[THREAD]
HAVE A SOLID 9-5

Yeah I said it

A solid 9-5 for benefits, socializing with people, getting ideas, etc. You can always cut back your hours later

Most importantly- BE UNDEREMPLOYED

Don't be the guy working 80 hours a week trying to get a 4% raise

Save your energy for your...
SIDE HUSTLE

- Flipping
- Affiliate Marketing
- Private label brand
- Selling Yugioh cards
- Breeding Alpacas

Whatever is, be the best you can be at it. Know it inside and out.

Figure out the best way to monetize it and stand out by doing it differently than everyone else
Read 9 tweets
1 Oct 20
๐ŸŽค๐ŸŽค๐ŸŽค

Top 10 Nipsey Hussle Quotes for Money Twitter

Nipsey was a rapper and entrepreneur, who even founded his own record label with earnings from his music

Talk about a side hustle!

[THREAD]
1โƒฃ

โ€œI want to invest in assets as opposed to trick off my money on liabilities like diamonds and cars that lose value as soon as you drive it off the lot.

It looks good, but... itโ€™s losing value. Itโ€™s depreciating not appreciating.โ€

Make your money make more money!
2โƒฃ

Out the garage is how you end up in charge
It's how you end up in penthouses, end up in cars
It's how you start off a curb server, end up a boss
It's how you win the whole thing and lift up a cigar
With sweat drippin' down your face cuz the mission was hard

Embrace the grind
Read 11 tweets
27 Sep 20
Qualified Dividends

vs

Ordinary Dividends

Q: What's the difference?

A: 10-19% tax savings on your dividends!

[THREAD]

๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡
What is a Qualified Dividend?

It's the same as an Ordinary Dividend except it's taxed at a lower federal rate

An Ordinary Dividend becomes a Qualified Dividend when you hold the stock for 60 days out of the 121 day period before the ex-dividend date

Here's the tax rates ๐Ÿ‘‡ Image
For example:

If a stock's ex-dividend date is Oct 1, you have to hold it for 60 days of the 121 days surrounding the ex-dividend date:

Aug 2

Oct 1 (ex-dividend date)

Nov 30

(Aug 2 to Nov 30 = 121 days)
Read 6 tweets
30 Aug 20
๐ŸŽค๐ŸŽค๐ŸŽค

๐—ง๐—ผ๐—ฝ ๐Ÿญ๐Ÿฌ ๐——๐—ฟ๐—ฎ๐—ธ๐—ฒ ๐—ค๐˜‚๐—ผ๐˜๐—ฒ๐˜€ for Money Twitter

Aubrey Drake Graham is a biracial rapper from Toronto who has amassed a $150 Million fortune

#3 highest earning rapper

His businesses include a record label & a whiskey brand

What can we learn from Drake?

[THREAD]
๐Ÿ”Ÿ

"Nowadays itโ€™s six-figures when they tax me/ Oh well, guess you lose some and win some, long as the outcome is income."

One big excuse we see around here is "If I make more money, I'll just have to pay more taxes"

So what? It's still more than you had before...
9โƒฃ

"Iโ€™m 23 with a money tree/ Growing more too; I just planted a 100 seeds."

One great thing about our corner of Twitter is that there are so many people starting young. Investing/ ecommerce/ SEO / flipping - you name it

Investing at a young age can set you up for life
Read 12 tweets
20 Aug 20
Q: What are fractional shares and why do they matter?

A: Fractional shares lets you buy shares of stock in small increments

For example, you could buy $1 worth of Apple stock instead of saving up $462 for 1 full share

Why should you care?

[THREAD]
There are 2 main reasons why companies DON'T split shares

1. Some companies believe a high share price brings a level of prestige

2. Warren Buffett famously said he'll never split Berkshire A-Class stock bc he wants to attract only "like minded" investors

That means - not you
Today, Buffett's company, Berkshire Hathaway is $310,800 per share

Normally, you'd have to save up $310k to buy 1 full share through your broker

But with fractional shares, you can buy as little as $1 worth, or .000003 shares
Read 6 tweets

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