Re: Singularity planning Re: Living Below Your Means (was...)

From: Michael S. Lorrey (
Date: Tue Jun 06 2000 - 04:57:05 MDT wrote:
> In a message dated 6/5/2000 8:22:50 PM Pacific Daylight Time,
> writes:
> >
> >
> > I think everyone should take at least one shot at the "join a hot startup
> > and get rich quick" route to millionaire status. You may fail, in which
> > case you can fall back onto the careful saving/investing approach, but
> > then again it might work out quite well, leaving you enough cash to help
> > use for other extropian/singularitarian purposes.
> which get rich quick scheme do you recommend?

Ha. At 22 I started a business with two older guys with an idea that I
thought would make me millions. Government policy changed, budgeting
dissapeared, and well, those virtual millions did too. I did get an
excellent education in start-up and operation of a business. Since then
I've been self employed and making a decent living (with far less stress
than being under someone elses' thumb), and am getting ready to launch
my own ISP company up here.

One lesson I've learned: no partners. Investors maybe, but no operating
partners, nobody with an equal say in getting things done. Decisions get
made with no hassle, and you only have yourself to blame. Much less

Lesson two: finance only when you absolutely have to.

Lesson three: buy used equipment when you can, or else build it
yourself, let some other schmuck pay for the depreciation, and for gods
sake, pay wholesale...if not distributor or clearance cost. Only buy new
equipment when you absolutely must have the latest and greatest, which
is rarely. I'm currently about $1,000-2,000 from launch date (which
looks like some time in July, depending on what comes up).

Lesson four: keep your day job. I don't plan on dropping my regular
consulting clients until well after the ISP is generating at least 50%
more money, net, than I am making now. I should reach that point
somewhere up around 400-500 subscribers, if not less.

Thats my two cents as Mr. Business Guru...

Mike Lorrey

This archive was generated by hypermail 2b29 : Thu Jul 27 2000 - 14:12:33 MDT