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	<title>Comments on: How I Really Got Started in Business</title>
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	<link>http://chrisguillebeau.com/3x5/how-i-really-got-started-in-business/</link>
	<description>Unconventional Strategies for Life, Work, and Travel</description>
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		<title>By: Jean Moncrieff</title>
		<link>http://chrisguillebeau.com/3x5/how-i-really-got-started-in-business/comment-page-1/#comment-8617</link>
		<dc:creator>Jean Moncrieff</dc:creator>
		<pubDate>Sun, 26 Apr 2009 06:27:09 +0000</pubDate>
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		<description>I enjoyed reading your article, it&#039;s always great to read about how fellow entrepreneurs start out and the lessons they learn along the way.

Two things really stood out for me in your article and the comments. 

Firstly, the importance that entrepreneurs develop the ability to predict change. Today the rate of change is only increasing and as an entrepreneur you need to make sure you don&#039;t slip into a comfort zone. You need to constantly develop the skills that will help you predict change. 

Secondly, the link between personal freedom and the management of emotions and finances. John K. Lunde makes a great observation in the second paragraph of his comment. It is all to easy to let emotions take control and start spending wildly. Before you know it things change and your not prepared.</description>
		<content:encoded><![CDATA[<p>I enjoyed reading your article, it&#8217;s always great to read about how fellow entrepreneurs start out and the lessons they learn along the way.</p>
<p>Two things really stood out for me in your article and the comments. </p>
<p>Firstly, the importance that entrepreneurs develop the ability to predict change. Today the rate of change is only increasing and as an entrepreneur you need to make sure you don&#8217;t slip into a comfort zone. You need to constantly develop the skills that will help you predict change. </p>
<p>Secondly, the link between personal freedom and the management of emotions and finances. John K. Lunde makes a great observation in the second paragraph of his comment. It is all to easy to let emotions take control and start spending wildly. Before you know it things change and your not prepared.</p>
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		<title>By: John K. Lunde</title>
		<link>http://chrisguillebeau.com/3x5/how-i-really-got-started-in-business/comment-page-1/#comment-8533</link>
		<dc:creator>John K. Lunde</dc:creator>
		<pubDate>Thu, 23 Apr 2009 22:36:25 +0000</pubDate>
		<guid isPermaLink="false">http://chrisguillebeau.com/3x5/how-i-really-got-started-in-business/#comment-8533</guid>
		<description>Great article, but I can&#039;t help thinking you missed one of the most important parts (and differentiators) about this experience that in many ways enabled everything else that came after it.  Ebay taught you how to sell, but your freedom was earned by not spending your &#039;found&#039; money.

Too many people treat any source of money they find as a dependable income, sometimes even before they actually succeed (counting chickens before they hatch, etc.).  What&#039;s important to realize is that personal freedom is directly linked to management of emotions and finances that money can bring.

I&#039;ve heard many people say that a poor man will always be poor no matter how much money he makes - and it&#039;s so true.  You did two things differently in your Ebay experience that made all the difference:

-you recognized when the easy money was over (and that you were only benefiting from the easy money rather than deluding yourself that you had magically acquired online retailing skills that made you that money) and got out

-you saved your windfall to power the next step of life.  If you had bought a fancy car or some other trapping of life with your money, you would never have been able to self finance a 4 year stay in Africa and change your life.

Now let&#039;s look at a more common approach.
-20 year old (Joe) discovers Ebay buyers are foolish with money
-Joe starts making 2K, then 4K, then 8K each month in income
-Joe puts $20K down on a shiny new BMW and moves into a brand new apartment, costing him just $4K per month together and that must be fine because he&#039;s making $8K a month and doubling fast!
-Ebay throws Joe a curveball and he only makes $5K the next month.  Instead of 
-Sellers flood the market and buyers get more price conscious, pushing Joe&#039;s profit margin down from 20% to 5% over the next few months and requiring Joe to either increase his volume (sell more stuff at lower margin) or rapidly find better niches and suppliers to improve his margins.
-Joe whines about Ebay, other sellers, buyers, and the world in general as his credit goes in the toilet, his car gets repo&#039;ed, he gets evicted from the apartment and he moves back in with mom.

Let&#039;s just say that somewhere you learned something very important along the way about saving money and maintaining personal flexibility, and wherever you picked it up, that&#039;s probably the most important lesson for most people.</description>
		<content:encoded><![CDATA[<p>Great article, but I can&#8217;t help thinking you missed one of the most important parts (and differentiators) about this experience that in many ways enabled everything else that came after it.  Ebay taught you how to sell, but your freedom was earned by not spending your &#8216;found&#8217; money.</p>
<p>Too many people treat any source of money they find as a dependable income, sometimes even before they actually succeed (counting chickens before they hatch, etc.).  What&#8217;s important to realize is that personal freedom is directly linked to management of emotions and finances that money can bring.</p>
<p>I&#8217;ve heard many people say that a poor man will always be poor no matter how much money he makes &#8211; and it&#8217;s so true.  You did two things differently in your Ebay experience that made all the difference:</p>
<p>-you recognized when the easy money was over (and that you were only benefiting from the easy money rather than deluding yourself that you had magically acquired online retailing skills that made you that money) and got out</p>
<p>-you saved your windfall to power the next step of life.  If you had bought a fancy car or some other trapping of life with your money, you would never have been able to self finance a 4 year stay in Africa and change your life.</p>
<p>Now let&#8217;s look at a more common approach.<br />
-20 year old (Joe) discovers Ebay buyers are foolish with money<br />
-Joe starts making 2K, then 4K, then 8K each month in income<br />
-Joe puts $20K down on a shiny new BMW and moves into a brand new apartment, costing him just $4K per month together and that must be fine because he&#8217;s making $8K a month and doubling fast!<br />
-Ebay throws Joe a curveball and he only makes $5K the next month.  Instead of<br />
-Sellers flood the market and buyers get more price conscious, pushing Joe&#8217;s profit margin down from 20% to 5% over the next few months and requiring Joe to either increase his volume (sell more stuff at lower margin) or rapidly find better niches and suppliers to improve his margins.<br />
-Joe whines about Ebay, other sellers, buyers, and the world in general as his credit goes in the toilet, his car gets repo&#8217;ed, he gets evicted from the apartment and he moves back in with mom.</p>
<p>Let&#8217;s just say that somewhere you learned something very important along the way about saving money and maintaining personal flexibility, and wherever you picked it up, that&#8217;s probably the most important lesson for most people.</p>
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		<title>By: Cory</title>
		<link>http://chrisguillebeau.com/3x5/how-i-really-got-started-in-business/comment-page-1/#comment-16</link>
		<dc:creator>Cory</dc:creator>
		<pubDate>Wed, 26 Mar 2008 17:36:39 +0000</pubDate>
		<guid isPermaLink="false">http://chrisguillebeau.com/3x5/how-i-really-got-started-in-business/#comment-16</guid>
		<description>I&#039;m shaking my head and nodding in agreement with most of your experience with Ebay. I personally love the concept of Ebay and being that I am a collector who also sells parts of his collection, really enjoy the ease of buying and selling that is now in place. I had found a niche in buying certain items in bulk and reselling for sometimes small, sometimes large profit. But the shear enormity of other sellers that now exists is daunting to just one private seller by himself. On one hand, this may be good headence to leave the Ebay market indefinitely, but it also is an opportunity to refine your craft and find and offer truly desirable and one of a kind (or unique) auction items. In either case, it is definitely a lesson in managing a small business.</description>
		<content:encoded><![CDATA[<p>I&#8217;m shaking my head and nodding in agreement with most of your experience with Ebay. I personally love the concept of Ebay and being that I am a collector who also sells parts of his collection, really enjoy the ease of buying and selling that is now in place. I had found a niche in buying certain items in bulk and reselling for sometimes small, sometimes large profit. But the shear enormity of other sellers that now exists is daunting to just one private seller by himself. On one hand, this may be good headence to leave the Ebay market indefinitely, but it also is an opportunity to refine your craft and find and offer truly desirable and one of a kind (or unique) auction items. In either case, it is definitely a lesson in managing a small business.</p>
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