Monthly Archives: January 2005

Time to Start Studying

My last semester of college starts tommorrow, and I am very excited. I also start working tommorrow. I love when everything is in full swing!

I need to concentrate not only on school, but meeting my $11,000 goal by April. I also need to have at least 3 or 4 steady side incomes by the end of this semester in May.

There is no excuse this semester to mosey around, because there is PLENTY of work ahead for me!

Low Money Inflow

At the rate I’m going, my goal of generating $11,000 will not be met by May 31st. I need to change something, and fast.

My online business is making money, and I will start working again in two days. I will also start pursuing making some money from Resumite. These three sources of income might cut it, but I need MORE.

I need to get into high gear and start making some more money!

How to Present

I came up with an idea recently, and I wish to further pursue it. It seems legal as of now, and I believe has a potentially huge market if properly executed, I also have a contact who works in the industry.

My problem is how to present my idea. As of now I am thinking of:

  • Inviting my contact for a quick lunch or visiting his business.
  • Give him a 10 second explanation of what I plan to do.
  • Show him a prototype (It’s actually just a different process of doing something).
  • Discuss the legality, cost and consumer appeal of the product.

If the idea has no legal red tape and has the potential to make even a little money, I will pursue it. There is always a lesson in every failure, so I come out ahead either way :)

Crazy Money Making IDEAS

I am taking some time to just relax and enjoy the beautiful weather in Austin right now before the weekend starts up, and then school. Didn’t do much but read today, so I’ll just post some crazy money making ideas:

1.) Helicopter Rentals.

I got this idea from New York and the insane traffic. I figured a helicopter charter service that picks you up and takes you directly into the city would be profitable. I wanted to rent a helicopter to pick me and friends up from New Jersey and drop us in New York for a New Year’s party, but all I found was helicopter sight-seeing tours.

2.) Handrail Advertising.

I was posting some flyers when I got this idea, then fashioned a crude device to make it work. A week later I found had taken the idea to the next level. I contacted the company to get my hands on their handrail printing machine, but they were only interested in large, establsihed advertising companies. I still think this is a great opportunity, as it is not being done in the United States…yet. When I spoke to MedialRails, they told me they would hit U.S. shores in mid-2005.

At any one time I have a million ideas written down, those are just two. Feel free to comment on them, I’d love to hear improvements, devil’s advocate agruments or any comments!

Business Lunch

I’d like to thank Murray from Capital Ideas Blog for a great lunch and the kind words he had to say about me in a recent post. At 23 years of age he has just shy of a six-figure savings, now that’s impressive! It’s refreshing to meet someone so young and financially responsible.

Still young, has a great job, invests, saves and has fun…this guy has a pretty bright future!

Overall this lunch was very successful. It gives me a sort of fiscal role model to look up to (he is a year older than me) and being where he is in one year would be great.

A lot of my best contacts have come through simple lunches like this. If I meet a person with an interesting business, I will ask them to show me how their business runs. Usually they are proud of the business they have built, and are more than willing to show me around.

Errand and Learning Day

Today I ran a bunch of errands. While dropping some things off to a family friend, I asked him for a quick tour of his business.

Over 20 years ago he invented a cheap method of sand blasting, and turned it into a large business. He sandblasts and metalblasts large and small pieces of equipment for companies.

I plan to learn more about his business as time goes on. It is always good to have plenty of business contacts, especially for someone like me who loves starting businesses.

Buying General Electric

For the last couple of days I’ve had a limit order to buy General Electric (GE) at $35.00. It is on a downtrend right now, and it looks as if $35.00 will be approched within the next few days. After I buy (if it hits), I plan to hold GE for the next few years. I expect to buy at $35, and take a loss on the stock for a little while.

The downtrend appears it will continue for a few more days before leveling out and possibly going up. Let me know what you think!

Buying Opportunity?

Stocks have been down quite bit the last few days. My unexperienced, non-credible opinion is: Investors have taken their profits from the recent uptrend in the market, and are a little apprehensive to buy at the moment.

I feel the same way. The good thing is, I am starting to feel the next few weeks will be a prime purchase point. I believe this year will be an up year, but much slower than the last.

Right now I have my eye on: ge, agh, axr, brn, bpt, cmbc, crt, nobh

I have put a limit buy order on GE for my longterm portfolio. If the price is right, Ameritrade will trigger my trade automatically. I plan to buy only longterm stocks this year.

On an unrelated topic, I go back to my apartment in Austin on Wednesday or Thursday…for my last semester of college!

Review and Plans

The Kirk Report put out a small list of possible ten-bagger stocks. I’ve started doing more long-term trading, so I took a good look at some of these:

agh, axr, brn, bpt, cmbc, crt, nobh

I would like a nice steady growth stock to hold for 5 to 10 years. I looked at all of these, and I’m waiting till the price dips on a few of them. I also have General Electric (GE) on my list of possible buys. I am just waiting for a nice dip in the stock for an entry point.

Today I accomplished:

Setting up a meeting with a fellow investor.

Web design work.

These slow days need to stop. I must be more productive everyday!

What Have I Done Today?

I think everyday I should post what I have done to improve my fiancial situation or life. My goal here is to not let the days slip by.

Today was a slow day:

-Sent out a letter to all TX Entrepreneurs inviting them to get together and talk business.

-Went to the library to research business advertising.

At this rate, I am going nowhere. This list needs to expand, and quickly.