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The Knack for Getting Money

Some good discussion in this thread at Hacker News about how to evaluate people with a business skillset if you've got technical skills already.

I reckon "a knack for getting money" is probably the most key thing to look for in a businessperson. Some people have a knack for getting money.

All the business skills in the world without the knack for getting money doesn't fly. Well, maybe for employee #7,632 once a company's made it. But not for starting something up. You need to hustle and get money of some form real fast early on. A business guy who can't get money is probably worse than useless - if he wasn't on board, you'd be worried about solving the money problem yourself. But since he's supposedly the business guy and seems to be doing business guy stuff, you think things are cool. But things aren't cool. Go long enough without money, you die.

That's bad.

So, where do you get a knack for getting money? We're not born with it. It's acquired through action somehow. What's it take?

Parlayed Investment - a paradigm for life

On The Tiny Octopus

A parlay in craps is akin to 'letting it ride' or for the non gambling among us using your winnings and betting them back on the table. Sure you stand to lose it all on risky bets but life does not seem to link well with those who just play it safe. Life seems to be a continual slide down into what people term 'death' or oblivion or whatever in which only the ones who really make at least a push for the top enjoy a life well lived. What has been a constant personal troll of mine is getting into situations where my fear pushes me into actions which are a guaranteed slight loss instead of a possible medium loss and an incomprehenisble gain. If anyone has read many of my other posts I'm a big advocate of Pascal's Wager - making small bets which if lost are inconsequential in the short run but could pay off huge in the long run. As a craps player I was always kind of an iffy breakeven player until I discovered the power of the parlay. Sure I may lose 50-100$ sometimes 200$ a session but in the long run given my infrequent gambling (none now at this point) that money would not matter anyhow and I've had some big wins to show for it. 10$ --> 400-700$ twice maybe 10-->200 once and a 1-->280$ triple parlay on the any craps on the come out as my best burst. What if I made small bets in the past on every precious metal? On the stock markets? (which have continually grown) What if I applied momentum and parlayed instead of spend and/or sit?

Sooo..... I was taking a halfway conscious nap this afternoon and an odd thought came to my mind. What if instead of getting money/presents/whatever else people get for birthdays/christmas/giftgivings/housewarmings/etc... I ask for precious metals instead? Realistically I'd just request no gifts just modest cash donations for a 'special project' and turn them around into precious metals if the market price is good else deposit them into lending club certificates for the 5-15% interest. I'd then take this money around and reinvest it again! Once the money got big enough similar to pruning a tree I'd take a small bite off for my own personal happiness while knowing in the background I had a financial foundation which brought me peace.

It would be a slight change of pace from the norm. Instead of splurging on whatever I'd want to get with the usual consumerist mindset I'd invest all the money instead. This would require me to continually work on being happy with less which is a path I started on since I was 10 (it somehow hit my consciousness at that age that getting more stuff did not make me happier. In fact it made me sadder as I realized the number of sacrifices people were making to get me things). Anyway I left the boat of consumerism long ago and opted to save my money but in lieu of investing I just saved my money up waiting to make the big jump into starting my own business or whatever. I never got the 'chi' or whatever to make that jump years later unfortunately. With the economy still in shambles though saving fiat currency is a guaranteed loss (history also shows this) so every so often I thought about investing. I asked for advice from many about the markets and got mixed results which I shared in this older thread from John Wes linky. A few weeks ago I decided to disregard all the limiting beliefs regarding the markets people have drilled into me and jump into them myself linky2. I invested a modest 500$ into Tesla Motors on the recommendation of DrOdio linky3 and since then it's been steadily climbing upwards.

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