Just wondering if anybody owns a small business on top of trading. If so, what type of business? How did you get into it? I think it would be nice to have dual revenue sources in case your trading edge disappears and you cant find another..
I have 3 Brazilian ladies that do "Domestic" work for a few friends and myself and get paid a salary by me. It rarely interferes with my trading except in the hot summer days when they clean in a thong!
Well i run a small business selling souvenirs especially in manhattan and downtown The business is not doing that good ( competition Credit etc etc ) but still have some loyal customer who still call me to order some stuff.
I was in business before trading, I still am starting some new stuff right now as well. Business unlike trading (swing) is not a part time job. Its a 100% full time job You can't conjure sales out of nowhere unless you go out person by person and get sales or have some kind of "edge" to get sales that have a good ROI. Its extremely hard work. You also need a viable product. You also need to do customer service. You may most likely be looking for a part time job, maybe real estate agent, that can be part time. But a Business requires full attention and concentration unless it is off the 6-12 month start up period and managed by someone other then you (unlikely for a startup). It is extremely hectic just to turn profitable in the first 6-12 months and get things running smoothly. Only reason I can work both is, extra hours + have legacy people to manage customer service/ Shipping / maintence. The best part about busniess is the ROI and consistency. You can take a $5k startup and turn it into $150k in a consistent manner (you know how much to the cent you are making per month and forecast as well ) and if the business is good it can continue for many years and keep growing and growing and grownig. 3000% ROI Capital is best grown from a business, When you are hot, you can become extremely on fire where the money just dumps into your bank account for a few years and you can be set for life. Always something to think about.
I had a window cleaning/building maintenance business on the side while I was a firefighter before I started trading full time 4 years ago. I got the itch again last year to have something going on the side. I use prop leverage so I don't need to re-invest my profits into my trading business and it's a good diversification. I am part owner in a men's fashion clothing line. I handle the business planning/financial side of it and my partner does the design and sales. I'm also looking at going in on a scrap metal recycling business. I always like to have my ear to the ground for potential venture capital type investments. I don't want to be too involved in the day to day running of the businesses since my trading is a 8-10 hr a day job most days. But I do like having an outlet for my entrepreneurial bent.
I ran limo/airport services biz additionally, but it was headache. Then I moved to Eastern Europe, which is not brilliant place, but inexpensive. Since then I don`t have to deal with any junk business any more, so I can grow much faster.
I have a one-man company that performs statistical programming/analysis for pharmaceutical clinical trials.
Currently own a mid sized IT Consulting form with 30 full time employees. In the office twice a week. Trading in between.