21 September 2007 No Comment Print This Post  Email This Post

This week I had one of the busiest weeks in a while. With school, I’ve started to get really into my entrepreneurship class. I’m usually very casual about my classes and frankly I don’t take them too seriously nowadays. However, this class was different. I was working on a competitive analysis which would be part of a business plan for a business that I feel can and will work in the real world. We’ve also prepared a short pitch to some experienced entrepreneurs and they loved it. Outside of school I’ve been working on my eBay business and my fashion jewelry site, which is starting to pick up sales.  I’m hoping it really takes off by the Christmas shopping season. I also spent many hours during the past few days helping out an old friend who is swamped with work. I was writing sales copy, designing graphics, and doing a bit of programming for a few sites owned by my former business partner who lives across the country. It was hard work but I was handsomely rewarded with a $2000 diamond encrusted watch! He knows I love fine watches and being in the jewelry business, he paid far less than retail, so it worked out great for us both. I never had a watch so outrageous looking! I also met up with another good friend, who’s wife is an up and coming artist from Nicaragua. I am hiring her to paint a large representation of the San Francisco skyline, which I will take with me when I move. All in all, the week has gone and I’m ending on a high note. Now I just need some rest. What’s new?

Here are this week’s hot topics from sites that I frequent:

Jonathan at My Money Blog talks about passive income and asks whether or not it truly exists. I think that basically, passive income can exist in most areas he mentioned such as creative works, rental properties and businesses. However, the more passive it is, the less you’ll make. For example in business and real estate, you can hire managers to run the show completely while you vacation in Cancun. However, you’ll find that you can make a lot more money if you do some of the management yourself. As for creative works such as a blog or website, you can hire people to write and market the site and do nothing yourself, but chances are you’ll make significantly less profit from it. Truly passive income exists, but sometimes its not worth it.

Brip Blap talks about dealing with a messy desk. Although I believe a messy desk is a sign that you’re doing well in the business world, I personally cannot stand it. Luckily I am desk-less right now as I’m living with my parents again. But once my girlfriend and I purchase our house, I’ll be sure to check my bookmarks for this post again.

Jeremy at Gen X Finance talks about trusts and explains what they are. It’s an easy read and gives a short and sweet definition of trusts and the benefits of different types of trusts. I believe that estate planning is something a lot of people forget about. I was just looking into trusts lately for my parents.

The lazy man over at Lazy man and money gets jealous. I think it’s perfectly healthy to get jealous, but its best to transform that negativity into positive energy and motivation. Another thing which he mentioned is that a job title or salary is not the sign of true success. I couldn’t agree more. I mean come on, is anyone out there jealous of Michael Jackson?