Nostr Web Client

I’m sure nobody here remembers, but 6 months ago I said I was starting a home biz with my two kids (13, 14) to give them a taste of capitalism and entrepreneurialism.

We have a mini board meeting every Sunday night and the only rule is that our biz is a zero labour biz (we don’t want chores). We probably had 15 meetings so far and the boardroom dynamics are interesting considering everyone has an equal vote. 🤣

We started out with registering a limited company in UK (£12), opening a commercial bank account (£0), and depositing £1,000, bought web domain (£10), bunch of service fees (~£100).

My plan was:

Day 1… £1,000

Year 1 profit… £10,000

Year 2 profit… £50,000

Year 3 profit… £100,000

No dividend / salaries

Well today we shipped our first £10,000 of product and next week we ship another £10,000

But our margin is ~50% so things are looking really positive at the six month mark.

Kids are loving it.

Crucially it was important to start from essentially nothing. That’s the entire life lesson here… From nothing, at any time, just know you can do this.

Blah blah something something about giving a fish or a net, blah blah.

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Discussion

BUB 2y ago

Good father

Bill Cypher 2y ago

Are you looking to adopt?

Kc 2y ago

Zero labor? 🤔 You don't mean getting paid for doing nothing, do you?

⚡️🌱🌙 2y ago

Yes, we make decisions about what to do with the money to grow the funds and that’s it.

We started with £1,000

We might write an email or fill a form.

But nothing that looks like a chore.

Kc 2y ago

Yeah, but a 10x increase of starting capital within 6 months without work? What exactly did you do?

⚡️🌱🌙 2y ago

We bought some stuff and we sold some stuff.

We are just ruthlessly systemic and efficient.

One of my favourite lessons though is that speed of turnover is what matters, not margin.

Return on capital = margin ^ turnover cycles

So we are starting with stuff that is high value density, fast turnover and we are saturating out those opportunities before moving into more scalable things.

Think we underestimated the addressable market for our first stage though, so we are overachieving at the moment.

Good business just boils down to math.

People complicate it with moronic stuff and feelings.

But I’m an MEng^2 + MBA so you probably shouldn’t listen to me. Very not cool.

Kc 2y ago

Buying + selling physically or on paper? What about the storage? Seems to me that there IS some work, just maybe not the hard physical one 😂

⚡️🌱🌙 2y ago

We had approx 15 meetings after Sunday dinner and that’s where everything was done, maybe 90mins each. We just sit around the table after cleared up and do some stuff.

Physical goods, we just used the internet to organise / manage everything.