Where do people get the money to start small businesses?

I’m working my butt off in Sales every day for a major bank. I’m doing 48 hours a week, sometimes 50.

I am a top performer in my department and will make about 110k Canadian this year, but I’m getting absolutely nowhere.

Average house here in Toronto costs a million dollars. I live in a crappy apartment in the hood.

I drive a 2008 Chrysler 300.

My friend at work is pushing me to start a small business with him, like a Pizza franchise or something.

Pizza Pizza franchises here need you to have 350k in liquid assets. Who has that Kind of money?

No one that I know.

I don’t care if I sound poor because I am. What’s the alternative? Am I supposed to go back to school
And do my MBA? Study my CFA and make a living in trading?

I like Sales and I’m not afraid to work very hard, but how do I upgrade my life?
There's alot government funding here, esp with startups. Orgs like CMF, OMDC, etc assist with either loans, grants, or straight up tax credits. Generally you look to grab as much of these orgs as possible, then seek out a real investor as well.
 
You can get a nice condo in Toronto for $500k. My parents sold their house last year (where I grew up) and bought a very nice condo for $550k. Once the LRT on Eglington is done it will be even easier to get around without a car.

I've been to Toronto before. Met some girls on vaca and they visited me in the States and I visited their city. Granted it was years ago but, you could buy a condo for 450k. Studio or single bedroom plus den. Granted, it was more about the location in the city. I know this because the girl owned her condo. Another had a house in york i think its called. Anyway, I would rather spend half a million on a condo that was small, just for me, single bedroom or studio, right downtown near my workplace, and so conveniently setup with public transportation, a vehicle would be owned though unnecessary. I would not do that hour plus commute. I would fucking hate my life and would rather make less money to somewhere much closer to me.
 
I've been to Toronto before. Met some girls on vaca and they visited me in the States and I visited their city. Granted it was years ago but, you could buy a condo for 450k. Studio or single bedroom plus den. Granted, it was more about the location in the city. I know this because the girl owned her condo. Another had a house in york i think its called. Anyway, I would rather spend half a million on a condo that was small, just for me, single bedroom or studio, right downtown near my workplace, and so conveniently setup with public transportation, a vehicle would be owned though unnecessary. I would not do that hour plus commute. I would fucking hate my life and would rather make less money to somewhere much closer to me.
You could buy a condo with $450k, but its going to be 400-500 sq ft. and the view's probably not gonna be too great.

Like you said the entire point is for the short commute. Some people just look to own something so bad they forget it. A friend who lived in a condo a city over. At that point just get a house, put 1/4 more in and you get much more space, backyard, basement, etc.
 
It's just horrible. People think I'm nuts doing tech startups. Tech startups are easy compared to running a food services business. you can be cleaver and make money in tech. Being cleaver doesn't help you in food services, it's just location + a shit load of work and responsibility.

Met with a 30yo yesterday who made 8 digits on his recently sold website.

Its ideal for younger people as low initial cost and you can get workers for equity instead of wages. Plus your working hours can be arranged around paid employment.
 
It's just horrible. People think I'm nuts doing tech startups. Tech startups are easy compared to running a food services business. you can be cleaver and make money in tech. Being cleaver doesn't help you in food services, it's just location + a shit load of work and responsibility.

Heh. I used to work in the tech industry when I was young & single. Lots of money & opportunities to be had if you were smart & willing to put in the work. I worked for a startup as well as larger companies back in those days, if you knew your stuff and were willing to put in the hours you were never hurting for work or money. Folks would literally wave money in your face and have bidding wars for your services.

I didn't have the ambition to do a startup of my own but several of my friends & co-workers did blaze their own trail. The ones who knew their shit and had people skills were quite successful, one of my friends retired at 35 and he's enjoying his family time and living off his savings while taking on a part-time consulting gig whenever he gets bored.
 
With a little one depending on you, the best thing is probably to play the safe route through life.

Think aggressive, but safe.

It’ll be great to get to a place where you can help your parents out, but you can’t be as much of a cowboy with a son to care for.

Keep being the best you can possibly be at your job, and being the smartest you can be with your money, and your personal net worth will compound.

Start a little side hustle that doesn’t require much investment like a hot dog cart, pedicab, or drive Uber (do they have that in Canada?)
Maybe something that you and your son can do together on the weekends, like sell something unique food related at a farmers market. You’ll bond with him and teach him solid work ethic at the same time.
Are you mechanically inclined? Do something service related like car detailing and advertise for free on Craigslist. There’s always a lot of people with more money than time who are willing to pay you to do something they are capable of, but don’t have the time to do.

Then save and invest whatever small extra money you’ll make along with whatever you can stack from your day job, you’ll also be meeting new people all the time as well. Eventually you may run into somebody who appreciates your dedication and a new opportunity may present itself.
 
You could buy a condo with $450k, but its going to be 400-500 sq ft. and the view's probably not gonna be too great.

Like you said the entire point is for the short commute. Some people just look to own something so bad they forget it. A friend who lived in a condo a city over. At that point just get a house, put 1/4 more in and you get much more space, backyard, basement, etc.

That's bullshit. My parents have a 2 BR condo that was $550k one year ago. It's not on the subway line but they have two bus routes that will take them to the subway and the new LRT is right in front of their place. They are on the park system. It's a 1980s built bldg but their place was completely renovated.
 
I didn't have the ambition to do a startup of my own but several of my friends & co-workers did blaze their own trail. The ones who knew their shit and had people skills were quite successful, one of my friends retired at 35 and he's enjoying his family time and living off his savings while taking on a part-time consulting gig whenever he gets bored.

yup. I was 36 when I was able to quit work. I like working though and I'm still at it.
 
Met with a 30yo yesterday who made 8 digits on his recently sold website.

Its ideal for younger people as low initial cost and you can get workers for equity instead of wages. Plus your working hours can be arranged around paid employment.

yup. You gotta do it before you have kids and buy stuff (like a house). I didn't even have a car. Rode my bike to work.
 
By making pacts with obscure pagan deities.
 
You could buy a condo with $450k, but its going to be 400-500 sq ft. and the view's probably not gonna be too great.

Like you said the entire point is for the short commute. Some people just look to own something so bad they forget it. A friend who lived in a condo a city over. At that point just get a house, put 1/4 more in and you get much more space, backyard, basement, etc.

That was at least five years ago. Those girls are married now. Hilarious how its a free for all for when girls are young and then, its build a nest time, and play house as they get past the ripe age of 23. She had a great view from her studio condo. The thing is that, if you are constantly chasing, bigger, and better, there is no winning that game. Ideally, I would rather 400-500 sq ft over a million dollar debt even if I had that sort of liquid cash which I do not.

I want to take a more minimalist approach the next couple of years. I would not recommend anybody treading the path I took in life. You could say I took on that dragon of chaos full force. Interestingly enough, when I get involved with women, they are usually sheltered, come from a good family, have money etc. They say opposites of attract. There is something to be said of those first generation Europeans. They have necessity driving them and over a couple generations, they claw their way up, and succeed.

With business, I have seen the same old story told again and again. It takes a generation to acquire the wealth and or riches. It takes the next generation, usually, the children to squander it. They never went through the ringer and the fire to have earned it. They walked into it. I notice the same with the corporate and business world. You get a your cookie, your little bonus which in the grand scheme of things is next to nothing. There is hollow promise of progression of promotion but, unless of course, you are related to the powers to be, good luck.

Its chasing a carrot on a string. Most people are chasing phantoms. Its not there and even if they acquired what they thought would give them happiness, it is short lived or not really what they want. I want that venture. My own venture. Its what I am about at the current moment. I wish you luck on your endeavors. If you have no kids or children, nothing to hold you back you have no excuses to take risks. Obviously, be smart about it.
 
With a little one depending on you, the best thing is probably to play the safe route through life.

read David Deida Playing it safe is not the answer. Obviously, don't go full retard but, urinating from the seated position, and not handling your shit is not the answer.

Think aggressive, but safe.

It’ll be great to get to a place where you can help your parents out, but you can’t be as much of a cowboy with a son to care for.

Keep being the best you can possibly be at your job, and being the smartest you can be with your money, and your personal net worth will compound.

Start a little side hustle that doesn’t require much investment like a hot dog cart, pedicab, or drive Uber (do they have that in Canada?)
Maybe something that you and your son can do together on the weekends, like sell something unique food related at a farmers market. You’ll bond with him and teach him solid work ethic at the same time.
Are you mechanically inclined? Do something service related like car detailing and advertise for free on Craigslist. There’s always a lot of people with more money than time who are willing to pay you to do something they are capable of, but don’t have the time to do.

Then save and invest whatever small extra money you’ll make along with whatever you can stack from your day job, you’ll also be meeting new people all the time as well. Eventually you may run into somebody who appreciates your dedication and a new opportunity may present itself.

The corporate world loves cuck central. The dude raising some other man's baby, beta as fuck, and wont make waves. He wont take risks. He is a place holder who there makes everyone else look better, get the raises on the brow of his sweat and hard work.

If you want to really make a difference, you got to do it on a global scale but obviously, start small, and scale up then. Again, if it doesn't provide resources, it is not a business. Its a hobby.


I think one of the biggest reasons i have stayed clear of children and marriage is that, I enjoy my bachelor life, the prowl, and the pursuit. Women are entitled as fuckkkkkkk so, a divorce equates to a woman's hand in your pocket for life. Accidentally on purpose pregnancy is a real thing.

A business needs to be treated like a living being. One must act accordingly.
 

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