Quote: Originally posted by Alpha Deus on Sep 29, 2013
Never start a business you know nothing about, no matter how much money you have or how cool it sounds, they can get out of control very early on, especially if people realise you are a lottery winner, the biggest case of lack of belief is the fact you're a lottery winner, take tat morsel into a bank and ask them for a business loan...they will take your money but they would never invest in you unless you were commited to heck, had a great business plan and could show them your idea working to become profitable within a few years or theyd never get their money back....unless you're a real fool and dont start a LTD company to avoid big mistakes coming back to haunt you and your wealth.
I'd start a small company but if you consider the professionals youd hire, the staff for your home (gardener, cook, house keeper, driver) you're going to be a small business either way, with wages to pay, insurance, pensions etc.
If you want to take your $70m or whatever and then put in a general 16 hour day working for sometimes minus sums then go for it, if standing behind a counter till your heels are bleeding, dealing with stock rotation, purchase, delivery, unhappy customers, unhappy suppliers, unhappy spouse who thought youd be spending all the time with them, etc then great, if you think you'll hire a manager then your trusting your money and busieness to someone else...then why bother, a small company will not make the sort of returns even a CD would give you.
You would have to study well your business of choice, the amount of time you're willing to devote to it, the downside of business and the fact its going to hit your 'wonderful lottery winning days' like being told by your employer you just got a promossion to a 60 hour week for no more money but we'll put a sign over your desk....lol