Five Reasons You Should Start a Business Today
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- čas přidán 27. 04. 2023
- In this week’s FRIDAY FIELD NOTES, Ryan Michler discusses FIVE reasons why every man should consider starting a business and some things you should consider when deciding what kind of business to start. Hit Ryan up on Instagram at @ryanmichler and share what’s working in your life.
SHOW HIGHLIGHTS
1. Hedge against risk with current career
2. Make more money
3. Tax benefits
4. Fulfilment
5. Skill development
1. Look to your strengths:
- If someone is asking for your advice at something, it’s probably a strength
- What are you doing when time goes the fastest (Zone of Genius)
- What would you be doing if money weren’t a concern?
2. Talk to people about what they are doing for a business
3. You have to sell something
4. Implement the feedback
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Started my own business a year ago, best decision I ever made. I thank God for it every day.
What kind of business?
What type business did you start .
Me too
1. Hedging against the risk of a single source of W-2 income.
2. Supplement current income with money for debt reduction or investments
3. Reduce your tax liability
4.Emotional fulfillment
5. Skill development
Saved me 30 mins. Thanks
I rent bounce houses, tents tables chairs and party stuff. It’s hard work and very rewarding. What I love the most about it is making the kids so happy. We are all they are waiting for before the party! I never watch the clock because I enjoy the party rental business so much!
“If there’s no consequence for your shortcomings, there’s no reason to fix it”. Absolute truth.
I opened my business in 1984, there's nothing like the freedom, challenge, responsibility, and Focus that it provides. I hope everyone enjoys their Journey oh, it sure beats the rat race any day
Fantastic!!!
what type of business did you open?
Thanks for these videos bro. I had a dad but not a masculine upbringing. These vidoes u make help me on this journey to becoming a strong man🙏 great purpose u got keep doing what u do!
Never too late to live more masculine!
I love providing great customer service! I also love working for myself! Start small on the side people and save your money up! Your dreams will come true if you work at it hard enough! Take every negative and use it as motivation and never quit!
Just staeting a business now in my life, turning 40 this year. Just got keys for the building. Hoping to open the doors to the new dojo in July.
well one of the most effective ways to engage,and boost your sales is creating website and an app to brand your business and am an expert I can help you with this services
Enjoyed this podcast.
That’s awesome congratulations!!! my wife just started a nonprofit Dojo in Washington and they been getting recognition internationally,for judo and and the wrestling program. She was fortunate because together and wanted to come to business and get away from the old Dojo. I want to start a business so bad I just don’t know where to start or what to do.. my wife is also recently diagnosed in the last month with an auto immune disorder that is not covered under insurance.. in her primary doctor told us that she had two options.
#1. Keep coming to the primary when new symptoms arise and get medications for those symptoms.
OR
#2. We can go to private doctor that specializes in her condition. However, it is going to be very expensive out of pocket.. $1500 per visit to get an actual treatment
Wishing you great fortune!
@@JaxAndree im wishing u both the blessings you all deserve.
I have started many businesses that have failed over the years. I had all but given up until I heard this! I have always wanted to create a successful business, and I will! Thank you so much for this!
How do you know if your business is a failure ? Or you were forced to close ?
well one of the most effective ways to engage,and boost your sales is creating website and an app to brand your business and am an expert I can help you with this services
Been there Josh .
My first official biz did not go well. I’m kinda gun shy of starting again . Now I’m 65 and I feel like I’m to old to start over . If your a younger man go after your dream
@@balex556Can you help me
In other words...
1) What do you do?
2) What do you do that isn't doodoo (something you'd be proud to say you did when someone else saw it)?
3) What do you do that isn't doodoo that, if you didn't know how to do, you would pay someone else to do?
4) What do you do that isn't doodoo that others would probably pay someone else to do because you would pay someone else to do?
5) Do that.
You may never know the value of that €1 you have until you go bankrupt, the bad experience I had last year really made me feel that our school curricula should contain more financial knowledge and education. It is never enough to have a good job, a huge salary and all the luxuries at your disposal. But saving money and investing it wisely is never a bad idea,... I learned how to invest, no matter how little, but life really believed me the hard way. Thank you for the nice video its always interesting to watch your content
you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. I learnt from my last year's experience, i am able to build a suitable life because I invested early ahead this time
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too
exactly! That's my major concern and what kind of profitable business or investment can someone do with the current rise in economic downturn
To achieve greatness, you need to start working towards it. Investing remains the smartest way to prepare for the future. Been into this for 8years and I'm extremely pleased with the good returns. The good news is, it's never too late to start investing.
The first step to success is figuring out your goals and risk tolerance - either on your own or with the help of a financial advisor. If you can get the facts about savings and investing with a well detailed plan, you should be able to gain financial security over the years and enjoy the benefits of managing your income.
Personally i ventured into the stocks market so i won't be stranded with the help of an Investment advisor. A colleague of mine introduced me to "Courtney Heath Williams", who drew out investments plans and they all aligned with what i wanted and had to pick one plan and with his exit and entry strategies on commodities, securities and digital assets, my portfolio has really been diversified with good ROI. Im really impressed by how much i have achieved so far with my investment...
@@-Fredrickthat's great, your investment advisor must be really good, I have seen testimonies of people using the help of investment advisors in making them more financially stable. Do you mind sharing more info on how to reach your advisor?
His available on telegam with the username below.
@@luis-gabriel1WHCOURTNEY.
A great book I would recommend reading. The Fastlane millionaire by MJ Demarco. A quote from the book. Don't chase money Chase needs.
I need to find like minded men like you. I am retired military. Two business attempts. The second made it further. Learned many lessons. I have much more to learn. I loved this episode, the first one I have heard from you.
Bro copy that!!! Hard to meet like minded guys when the popular favorite tactic is to find sh*t to argue about 🤦🏾♂️
Great video.
51 and have only dreamed about starting a business. Need to stop dreaming and start doing.
Think starting a business you realize how much risk you take. And if given proper attention will be the hardest thing you’ve done. Makes your normal job seem “basic”. It’s made me really value what I make, spend on what moves my business ahead. Also by habit has made me look for better deals. There are so much out there once you crack the egg it starts to come together if you really persist. Takes time, very similar to growing a seed.
Great topic. I've always been pretty ambitious to do more and try new things, easy to get discouraged though so a good supportive wife helps a lot. When I became a father I started side gigs like crazy because I was afraid that if I got laid off my 10+ year company job that I wouldn't be able to provide for my family.
Started a business 5 years ago now we are growing rapidly. Love doing it too.
This makes a lot of sense.
I've been in business for about 7 years... still working on it.
TWA Safety LLC
Thank you.
If you enjoy topics about mastery and masculinity, I invite you to explore the videos I share on the Mastery Order Channel.
Challenge yourself with some ideas about manhood, explore your masculine potential to the maximum and become the kind of man you would admire.
We can only better ourselves together, as men among men, so I invite you to use what I share and, of course, share your own opinions so that others can benefit as well.
All the best to you!
Almost everyone, including the media, is anticipating a market catastrophe, and as a result, many are turning a blind eye to the opportunities in the market. I recently began investing in stocks , and it was the best choice I've ever made. If you genuinely want to be financially secure, disregard everything the media is suggesting. The market offers a lot of chances. Maximize your use of it
@jamessarah2702 You can make a lot of money from the market regardless of what occurs, whether it strengthens or crashes. The key is to be well positioned, and that's what matters most.
@jamessarah2702 All you need is a good capital and the service of a professional broker, with those you're guaranteed of making profit.
@jamessarah2702 I would suggest Doris Janette Maule, my current broker. Her services are excellent and her returns are great. I looked up her up after seeing her on a CNBC market interview, she has been a blessing to me.
These bots are getting so creative these days, impressive
Guys, please don’t get scammed by this walterjones. Google this. This is a straight up, bold faced scam.
I have a decent job earning a income that’s not enough to cover the bills each month. I start a auto detailing business since February 2023 and made decent amount of money so far. It feels amazing to have something of your own!!
I started my own business after HS… failed… tried again 10 years later… failed but did better, much better. Worked a few years, n literally started a new business once again… hopefully this one lasts… but even if I fail again… I rather fail fighting for myself than being miserable working for someone else.
Ryan, Thanks for sharing this valuable lecture about being self employed. These ideas are motivators.
really liked this episode, got meh thinking for sure!
21:14 I get what you mean… I took my drawing skills for granted for many years and kept telling everyone “it’s easy! All you need to do is…” and they would just look at me in disbelief… until my ex boss told me not to say it’s easy anymore because there is a learning curve to everything…
It’s such a great video, thank you for the motivation!
Been a fan for a while. In the process of starting something. And I just came across this and this message is a nice boost.
Really enjoyed this podcast. I have had a part-time business since 2005. Used it for all the things you mentioned and to allow my spouse to make the decision to be a full-time mother to our boys. New subcriber Ryan.
This is great thankyou. I am currently trying to start a small mens group in my local area in small town Canada. I will keep watching for more tips and insight. Cheers
Great content, thank you.
First time on your channel, amazing tips, staright to point, no BS, no wasting time, love it
Always thought about starting an IT consulting business targeted at small businesses. I've always been someone who is willing to undercut the competition and be the cheapest most reliable option. Whether you stay cheap and gather a large client list or slowly become more expensive and dwindle your list to individuals who can afford you, I believe I will stay towards the former and never touch the latter. Even if I just get the clients setup and then charge to be a 24/7 IT technician or contract an outside firm, the idea is to allows benefit the client and never think about how much money I can make.
I've started a small side business as a vendor for a law enforcement agency, just completed my first project which took almost a year. I actually had a lot of ups and downs throughout the year which prolonged it. But, that showed me where my strengths and weaknesses are. I'm currently reorganizing myself as I foresee I will be busy again this year. All while holding down a full time job. Learning from others as well, thank you for your channel, and I thank the Lord for all new opportunities. Get after it and Man up y'all!
You inspired me s lot ! Thanks for your so important message to us.
Hey man loved this video... Thanks for the actionable steps
Very practical pep talk. Thank you!
That was packed with great advice.
Thanks for this. Owning a business is better than being an employee. If your only source of income is a job in someone else's business, you take on almost as much risk as they do with a lot less reward. I've had my finances affected by my employer's decisions before and I've had enough. I just started a side business to become independent.
Subbed and notified. Almost like you know what I’m going through right now.
Real $***! Keep pushing forward brother.
I am glad I heard your video today.
Thanks for this brother 🔥🔥🔥🔥🔥🔥
Thank you for your content. I thank God there are still good men in this world.
Went out on my own 4 years ago as a General Contractor, the best choice I’ve made. Legal tax deductions are real!
I think you’re onto something. I’m going to consider being an Advisor 💡
My business will be to assist small businesses in making decisions about potential employees by accessing the potential employee's subconscious mind through the method known as Reverse Speech. By finding reversals in the potential employee's spoken word on a recording that is played backwards, I can find reversals that will indicate if they are a trustworthy employee, have a valuable work ethic and any other attribute one wishes to measure against.
Officially my fav channel, I’m good with plants and I don’t understand why others aren’t and it actually makes me angry sometimes 😅
First video of yours that I have watched. I have worked for myself off and on for over a decade now. I also work for other contractors. Working for yourself can be both amazing and devastating. You have to figure out and cover every angle yourself. There is no company health plan or retirement. You have to make all of that for yourself as well as running your business and balancing your time. My best advice is to find a niche that others are unwilling to fulfill. For instance I service and install septic systems for people. There is good money to be made in this field, but most folks don't want to deal with the shitty side of things. Anyway thanks again for the great content.
I like what you say. It's not glamorous, and that's why your business will be or is profitable because it's an essential service.
Thanks for the advice. I've had this on my mind for the last while but just haven't been sure what the route for setting up the LLC was so I've been putting it off. I guess it's time to figure it out.
I can honestly say I needed this. I make a lot in my w2 and use that as an excuse to not start a side business, but I've had this personal desire to do so for the last 5 years. I'm doing it! I may not have every answer, but I know how to start. Thanks man. appreciate the advice.
You can truly do it, man, and it’s NEVER been easier. I hate social media with all the passion in my heart, but if you’re willing to work it forth effort into all the different socials and assuming you have a great business with a decent sized market, then blowing up will not be difficult.
All I have to say is start. I took the plunge 10 years ago with a newly born and I had just lost my job. Best decision I have made. I've had months with 50k income and I've had months with -50k :P
It's a total shitshow a lot of the time and I had 0 knowledge. I am right now going through a hard time in my business life. But you know what I have after all these years. The self-awareness to know that I am going to pull through yet again. Every time I fall, I stop just a little bit earlier than the time before and I rebuild back up to where I previously was a little bit faster than previous falls.
Statistically, it tells me that if I just continue, my top now, will one day be my bottom where I fall down to.
Good luck and remember, 90% of what you do won't be successful, hell even 98%. But failure is giving up on your dream, and that's not an option =)
@@krabbanshand Make sure you be Strategic with your entrepreneurial efforts brother
fantastic thoughts and ideas thanks 🙏
CZcams recommended this video I watched it I have to say I really enjoyed it thank you
This is a great video Ryan. Well done. I just developed a course, based on my 30+ years of being in business, with the sole purpose of raising up new entrepreneurs/business people to 'pass on the torch'.
Any encouragement you can give to give men to chart their own path and not rely on their current job as security, is more than helpful.
This was great!:)
I really want to start my bussines. But its a anxiety thing. Anxiety of what ppl think.. anxiety of putting myself out there.. anxiety of failing and leting down my potential clients. Its crazy
well one of the most effective ways to engage,and boost your sales is creating website and an app to brand your business and am an expert I can help you with this services
Pls you have to work on your belief system. Untill you trust it will work, it won't. Belief is a fundamental necessity.
I want to start a business, I just need time to self. I’m financially secured but have young kids that need a lot of attention and grooming. Which leaves me with very little time to start a business .
well one of the most effective ways to engage,and boost your sales is creating website and an app to brand your business and am an expert I can help you with this services
Great 😃👍 advice, I am currently working on saving three to six months of money, before making any moves.
Hey Ryan, thank you man
Every dollar is taxed multiple times, say you work in a store, when a customer buys a product, that dollar is taxed, when the employer pays their employees and when they buy more products and the property they have the business on its all taxed, when you take your pay and use it to buy products from stores, it's taxed again, and then you are taxed for the property you have, you are taxed for driving both registration and when you buy gas, you are taxed for fishing, hunting....etc
ThaNx for the taxes talk
🙌💰
You can try and make your max in a day by working hard instead of being limited by a 8 hour shift and a hourly wage
Great material!
This makes me so glad I went though all the shit to become a plumber and mechanical contractor
That is awesome to hear, I am trying to transition into the plumbing trade!
How did you find work after you got your mechanical contractor's license?
My father always said you will never be paid what you are worth by working for someone else
Thank you, time to stop planning and start doing.
Great Advice
Great vid
God bless you. Thanks.
Great info
another reason, the FREEDOM
I started my business 15 years ago and I will never be sorry. I don't think I could work as a W2 employee anymore.
Starting a business will push you to be the best you can be in your craft, and that is a grest thing. But employing staff... if you can manage just be self employed unless your govt is tax and enployeer friendly.
Any word on when you will get more merch? I noticed everything was sold out.
Real FREEDOM is not having to work to live. And decreasing your expenses is the same as making more income. With a 1/8 income/expenses ratio, I work when, where and for whom I choose. I’m amazed at how many employers FAIL their interviews or probationary term.
I hear you brother. I worked at a company for 10 years got fired for doing side work.
My boss heard on the weekends I was doing small projects small projects.
That's ridiculous! Sounds like they did you a favor in the end though. I personally wouldn't want to work somewhere that wouldn't support me.
Were you competing with your employer, though?
@@gbear34 No. I was his foreman for 10 years. We work in a niche business lime plaster. It was my client.
He only heard from a third person. They asked if I was working for him still. Because they wanted to use me. But the third person got a ear full.
He is the whale in our industry. I’m just a shrimp. Lol. I did work on the weekend or outside his time.
He told me , that you don’t have any business doing your own jobs . You put mud on the wall.
Your fired.
Wow I’m glad I came across your story. Cuz I’m in the same situation.
I’m working for this family owned company, and in the weekend I’m side hustling to make up the pay difference they are giving… any way come to find out I’m making more money quoting my customers then w2 and their 10-99 … I told him I want to quit cuz I have nothing to offfer anymore to the company I’m at a standstill. Doing my landscape business gave me more confidence and motivation to pursue it further… pass 2 months I’ve gained 13 new customers. I’m so happy I did this. But my boss won’t fire me… lol I’m to good to be let go. Lol I crashed into the building and other things that could get me fired… but nope still not… lol
@@matthewsalvador9783 lol. Well the employer gets so much benefits on employees.
He made a killing on the pp loans 125k free money you can look up it’s public record. Plus the credits for employees.
We had ex employees become subs and I had to help them all the time.
I asked to become a sub for him he said no you can’t.
That was my mentor.
I worked for the same company 10 years only to go backwards.
He gave my mortgage lender hard time for voe when I was trying to get a investment property. He ingored my mortgage lender when I wanted to refinance my primary mortgage.
Glad this showed up in my feed. I have set all my digital products to $0, hoping I'd get users I could get feedback from, but you're right: I'm a business, not a charity. I'll be setting the prices to $1 tomorrow 💪
You can start out with that to gain feedback and good reviews (law of reciprocity), but afterword you should charge absolutely whatever you want.
I'm going to leave you with this hierarchy/equation guideline for how to decide what you want to charge...
Cost < Price < Percieved Value < Real Value
I'm starting a business soon!
6:49: 100% true. The tax code is designed to incentivize business-owners and investment in certain industries which is why guys like Trump, Bezos, and Musk pay so little in tax(relative to what they earn). They create tens of thousands of jobs that allow families to put food on their tables and local businesses and municipalities to stay afloat while also providing valuable goods and services and the IRS rewards them for that.
Stay on point my dude. Don't drift off on a tangent.
I live in one of the most over taxed countries in the world, New Zealand. The government here, believe in stealing your money via higher taxes, and disincentivizing incentives and accomplishments via increased taxation.
The thing that really pisses me off about living in New Zealand is that even though we’re heavily taxed, our health system is slowly falling apart, the roads we have are crumbling and new one cost billions and need immediate remedial work, and education outcomes have been steadily slipping since the introduction of NCEA.
We pay so much on tax and it’s really difficult to see where it’s going. The country’s financial management is currently woeful and its having such a huge impact on our quality of life.
I have helped others make millions. But starting something on my own seems difficult to impossible. One company I helped made 1.5mill and all it took was a 45cent stamp and some direction from me. I’d love to learn more from you! It’s past due that I work for myself.
Glad this showed up on my feed I have this channel for a side hustle I still need to make more content and I was thinking about starting a business but I don’t want to deal with woke nonsense
Thank you Ryan. I am preparing to launch 🚀 an axes and outdoors gear e-shop up here in Canada 🇨🇦 🙏🏻💪🏼🪵🪓
I want to start my own business but have no idea where to start.
Brothers, I need guidance. I’ve been wanting to do this, however I don’t know where or how to start. Also, I’m now sure what to do for a business. Any advice is appreciated.
I need advise. I make really great money as a union Ironworker which i have been for almost 30 yrs, but unfortunately at 47, i still have to work until 58 for full retirement benefits. My work is all over the country, following the money and Big Jobs. Currently building micro chip plants, battery plants, ive worked in all phases in the power construction industry nuclear, coal, and natural gas. I have to live in my camper away from my family, and cannot write any of my expenses off. I need some way to do that, some kind of business legally that would allow me to write off lot rent, fuel, food ect... wherever i have to move to in my camper.
Great conversation. Curious, when did you dedicate your life to Christ? I recall listening to your podcast periodically over the years but never heard the faith perspective until recently listening. OOM is much richer and deeper being Christ centered.
Turn that bike into a two stroke with a conversation kit or an e bike 👊🏼
I have an easy job that pays too much. Now my investments pay me monthly on top. Smarter not harder.
It is my understanding that the American tax code was designed around business not individuals. Though I do not believe the average person thinks of it as such. Please correct me if I am wrong.
We had our own business, but with taxes and regulations and them being harder on small businesses, I make more in working for company I do and have all they expensive equipment and not all the problems. Our sons looking into businesses but finding same. The company I work for is buying up all the small businesses and have been busier than ever and growing and have never had issue in my profession. I have people calling me daily to come to their company and could have job in less than 24hrs if needed too but my wife is retired military and just turned 40 and can pay all bills on her income and mine extra. But it's good idea to have everything paid and debt free as we have been and now paying our home/farm off soon. She makes 6 figures yr. And with mine just trying to be free but worry about future for our sons 15 to 22 but 2 already doing amazing and trying to make sure they are set financially and everything else. With new irs agents they are targeting write offs and small businesses. There are ways to use tax code to protect and save your money. We don't pay taxes on home or vehicles or wife's income and discounted on mine. Learning ways to protect wealth is important.
Awesome video. My businesses are both the hardest and the most fulfilling thing I have ever done. If I can do it, anyone can.
Hvac!!! Please…need more information on how to START!!!!
Theres a tax for everything which is crazy becasue our taxes were supposed to already pay for some of this stuff.
Ryan, I'm in the same place you were before going full time on OoM
Subscriber!
Building a business will not reduce stress. In all likelihood it will increase it. However, it will teach you how to fend for yourself so that if things go downhill in the economy you will be accustomed to being resourceful and rolling with the punches.
Security is an illusion. The only security is the one that you create through perpetual sharpening of your Saw.
Additionally, building a business builds confidence and empowers you to shine your light not to be shoved in a box.
The tax benefits are ridiculous! In a good way. When I started working for myself in 2002, I never looked back. It's crazy, aside from what you Actually make, it's also like giving yourself a`~25% raise. While taking control of your own decisions. The government gives Lots of benefits for self driven people.
Not completely appreciating the constant gov bashing, just like cops, the gov does Way more everyday good than the foolish crap that we're all freakin frustrated with..
do you suggest an llc or a dba
I started a business saving eternia