Is There Money in It?
Is There Money in It?
Joe Dolan went into business for himself more than 80 years ago, when he was 14 years old. That~{!/~}s when he had put together enough money to acquire a small boat suitable for catching lobsters in the shallow waters near where he grew up on Long Island Sound.
As he recalled years later, he spent the first year or two working very hard and becoming a more skillful lobsterman. Then he had an insight. ~{!0~}I looked at the fellow who was the best in the harbor, and I figured that I~{!/~}d probably never get any better than him,~{!1~} he said. ~{!0~}Then I looked at how he lived~{!*~}in a not very nice house with his children wearing patched clothes, and always having to worry about whether he was going to get by.~{!1~}
At that point he decided to become a wholesaler. He kept on putting out his own traps and selling his own lobsters, but he was able to convince his fellow lobstermen that he should sell theirs for them as well. He quickly established a reputation as a shrewd but entirely reliable businessman, and his colleagues were probably better off paying him something to make their deals than they would have been on their own.
Many entrepreneurs start out doing one thing, then shift to something else for which they discover both a talent and a better possibility of material rewards. Joe did this again and again throughout a very complicated career. He eventually became a seafood retailer, a restaurateur, the owner of a small fishing fleet, a banker, a politician and a famous hunting guide~{!*~}all at the same time! Never in his life did he have to show up at an office and spend a full day there. From the time he started out on his lobster boat at 14, he kept discovering different ways to be his own man.
Is There Money in It - To learn more about this author, visit James Chan's Website.
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When you are doing what you love, the money doesn~{!/~}t necessarily follow. You have to be doing something that people value highly enough to provide the level of income you require. If what you are doing doesn~{!/~}t produce high enough personal or economic rewards, that~{!/~}s not a judgment of you as a person. It just means you should look for situations where what you have to offer will be more highly rewarded.
Joe Dolan went into business for himself more than 80 years ago, when he was 14 years old. That~{!/~}s when he had put together enough money to acquire a small boat suitable for catching lobsters in the shallow waters near where he grew up on Long Island Sound.
As he recalled years later, he spent the first year or two working very hard and becoming a more skillful lobsterman. Then he had an insight. ~{!0~}I looked at the fellow who was the best in the harbor, and I figured that I~{!/~}d probably never get any better than him,~{!1~} he said. ~{!0~}Then I looked at how he lived~{!*~}in a not very nice house with his children wearing patched clothes, and always having to worry about whether he was going to get by.~{!1~}
At that point he decided to become a wholesaler. He kept on putting out his own traps and selling his own lobsters, but he was able to convince his fellow lobstermen that he should sell theirs for them as well. He quickly established a reputation as a shrewd but entirely reliable businessman, and his colleagues were probably better off paying him something to make their deals than they would have been on their own.
Many entrepreneurs start out doing one thing, then shift to something else for which they discover both a talent and a better possibility of material rewards. Joe did this again and again throughout a very complicated career. He eventually became a seafood retailer, a restaurateur, the owner of a small fishing fleet, a banker, a politician and a famous hunting guide~{!*~}all at the same time! Never in his life did he have to show up at an office and spend a full day there. From the time he started out on his lobster boat at 14, he kept discovering different ways to be his own man.
Is There Money in It - To learn more about this author, visit James Chan's Website.
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James Chan Video - James Chan, Ph.D., created the phrase "The China Formula" to help Americans understand China in one word.
Dr. Chan is President of the Philadelphia-based, independent consultancy, Asia Marketing and Management (AMM). AMM specializes in advising U.S. manufacturers, trade associations, and information companies in building business relationships in China and in exporting American-made products and services in China and Asia. To view AMM's detailed profile online, go to: www.AsiaMarketingManagement.com.
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