I will be selling my home in about 5 weeks from now (7/28/13) at which point I will have all my debts paid off and about 80k in the bank (from sale of the home). I am interested in taking 50k of that to start a business while keeping the other 30k for myself as living expenses. The only thing is is that I really don't have some burning passion to do a particular "something" (well actually I do have something that I want to do but that requires at least a couple million before even beginning to think about doing that).
So anyways, I am basically posting this to see if anyone can give me an amazing pitch about what you want to do, why you want to do it, how you will be successful and how 50k is enough for you to start a new business. I would prefer to be a partner in the business (working for free) to make the business succeed.
Send me a Private Message and we will see what happens.
Good Luck. When I started my first business, I had just over $100K in the bank. I started from scratch with no experience. At the same time, I was also looking to buy a business of about $80k, my friends and family talked me out of it, trying to protect me friom wasting my money.
It took me 3 years to even turn a profit and now 7 years on , I am making OK money. However I would have been making double what I am now, if I had continued the job I was working. I have had a brilliant experience and have a certain skillset that I will carry for life. To tell the truth, I was quite unsuccessful while I had money, as I was throwing it around and getting poor return on investment as, the money was there to spend.
The lesson I learnt from this was that for every $1 I now spend, I want to see $10 return in sales within 12 months. I would definately use this as a guide. So if a website will cost you $1,000, it must get you $10,000 in sales in 12 months. If you spend $50,000 on a business, it must get you $500,000 in sales in 12 months (which will net you close to $50,000)
Good Luck and let me knwo if you need any more advice.
---Owner of Core List USA - http://core-list.com Provider of US Business Database, Business and Mailing Lists