Contemplating quitting your corporate job to become your own boss? [Thread]
Money
Making money is much easier when you have money. More importantly, having dry powder buys you time.
Starting with anything less than 6 months salary can be suicide. Bonus if you can get to a year saved up.
Flicking the switch on monetizing a new business isn't instant.
The fine print
Scrape through your employment contract to check for non-compete clauses, lock-in periods for approaching competitors, policy on recruiting existing employees.
Check what the notice period is, number of leave days you have to cash & how to transfer your pension.
Thinking of investing in YWBN Mutual Bank? [Thread]
WTF is a mutual bank?
You're probably thinking 'oh no VBS!'. Not all mutual banks are dysfunctional.
Mutual banks are institutions owned by depositors and are regulated. They also have lower capital requirements with the SARB.
They can accept deposits can issue loans.
The first red flag on YWBN is the 'membership fee' for 100 bucks. Having done a fair share of capital raising it's the first time I've seen a non-refundable membership fee to participate in an issuance. It's not common.
Strong chance you're severely underpaid right now. Here's a structured guide filled with practical, real-world strategies to make more money! [Thread]
Part I: Understanding why corporates are inherently structured to keep you underpaid ++ how stock based compensation, relentless buybacks & stimulus packages keep the widening the gap. bankerx.co.za/p/47-2020-09-3…
Part II: Figuring out just how much you're underpaid by. Salary benchmarking, how moving jobs boosts your earnings & the "bump" effect of getting promoted. bankerx.co.za/p/48-2020-10-0…
Firm believer of transparency, accountability & getting people qualified in their field sharing their insights ESPECIALLY when it comes to money. It's a non-negotiable.
Given where we are as an economy & in terms of financial education - having nameless, faceless folks recklessly dishing out terrible advice is incredibly damaging.