Your Questions About Successful Trading Business

Joseph asks…

What are your top 5 business-related movies and what can be learned from them?

I am working on a presentation for grad school and, as a movie buff, I wanted to incorporate films that can teach us something about business.

To get the ball rolling, here are 5 of my top 10:

1. There Will Be Blood – shows how backwards integration is successful in drilling for oil and the value of big picture perspective, hard work, and competitive nature.
2. Wall Street – shows effectiveness of arduous research, opportunistic behavior, and persistence
3. The Social Network – sometimes you just have to break the rules and be ruthless to get ahead. Shows the importance of a contract. Ethics vs. fortune. “a man who has everything…and nothing”
4. Office Space – forward thinking is more valuable than menial, worker bee tasks – the main character gets rewarded for being above the BS work and represents leadership and straightforward business tactics (even though he’s hypnotized)
5. Trading Places – how expendable you really are, regardless of prestige, accomplishments, or social standing.

Others left off: Godfather Parts 1 & 2, Citizen Kane, Jerry McGuire, Pursuit of Happyness

John answers:

1) Glengarry Glen Ross – If you are involve with any kind of sales you will love this movie. “Coffee are for closers”. Alec Baldwin, Al Pacino, Kevin Spacey

2) Boiler Room – Crooks in the stock market can make a lot of money.

3) Pirates of Silicon Valley – It’s about Bill Gates and Steve Jobs in their early days.

4) Other People’s Money – it highlight what Mitt Romey does for a living. A funny goofy version of Wall St’s greed is good scene.

5) What Women Want – if you can get inside the head of your target you will be very succesful

Mandy asks…

How do I run a clothing sales business on eBay?

I am leaving my job as a teacher in a month’s time. I have recently been working weekends selling clothing on a market. I get the stock by buying it in bulk from reputable wholesalers – it’s all new, authentic stuff. The market is going OK but the terrible British summer we’re having is slowing down trade. I’ve decided to move into a shop unit instead, possibly in Leeds or Doncaster.
However, I want to sell my stock on eBay as well. I have used eBay a lot over the years almost as a car-boot style selling place. If I have junk or old football programmes or unwanted DVDs in the loft, I’ve auctioned them on ebay and got a bit of extra cash for them.
Last night, I listed a couple of my market garments as bulk listings. with a fixed price, not as auctions. This morning I decided to list some more, but got told I had surpassed my limit for selling reputable high street clothing this month.
I understand that this is to prevent tax fraud – to stop me from theoretically earning thousands and thousands of pounds on eBay and not paying a penny in tax.
The point is, I want to make thousands and thousands of pounds. I want to make a living out of it. And I want to pay my taxes fairly. This would either be alongside the shop I will be opening, or in place of it if it is successful enough as a purely online venture.
Can someone please talk me through how to set up my ebay account so that I can trade legitimately as a business rather than a casual seller flogging junk from his loft?
How do I register for a VAT number? How do I get the selling restrictions lifted? Etc. Treat me as if I know nothing and talk me through the whole process step by step, please.

John answers:

With ebay also try some other methods like email marketing or internet marketing,
please check :

William asks…

Business for high schooler?

So I’m 16 and in high school. In the next two years which are also my last before uni, I am finishing sports that I started (get my black belt in karate) and taking up new ones (joining the rowing club). But outside of sports, I also want to start a small business. One of my friends started a web design business and is really successful. However I don’t want to do anything like making websites or programming. I also don’t want to be the product bring sold (for example being a tennis coach). I thought of running a photography business but the startup cost is huge and brings barely any money in. I need a business idea with a low startup cost, something that I can manage outside of school work and sports and something that I don’t need to learn much about. I would be prepared to learn a trade for 6 months maximum. Thank you

John answers:

You are 16 and want other people to give you ideas on what to do; it mustn’t take up too much time; and you can’t be bothered to do anything which requires real effort.

With an attitude like that, failure is guaranteed.

Grow up (a lot, in all sense of the word) and then think seriously about whether you have a hope of making a go of anything.

Susan asks…

Is there any other popular services like Paypal? – eBay trouble.?

Hello ,i’m 14 but want to carry on my online business but can’t use Paypal anymore due to new security measures introduced to stop people like me operating a Paypal account because at the moment i’m unable to get a Debit/Credit card which is now required on sign up to paypal, my ebay business has calapsed after 13 months of successful trading and getting well earned feedback. i nearly had £20,000- in my account which has know been limited for no good reason other than i have no Debit/Credit card affiliated with my current Paypal account, please help! , thanks.
Reporter One , You Obviously Don’t Sell Software Like Photoshop CS4 For £120 A Product I Was Doing At least 3 Sales A Day At That.
Yes , i’m fully authorized as i get my supplies through my uncles partner account with Adobe and also Microsoft.
Obviously , Rex ramblesham has no idea nor has ever been involved in how business works and thinks making £20,000 in 13 months is impossible.
No , Rex ramblesham it’s easy to sell 190 Products in 13 months , that’s all it took , do the math!

190 x £120 = 22,800 , almost the exact amount in my Paypal right now , take away eBay’s 10% and Paypal’s 5% charges of course.
Haha , love that you’re being patronizing even though i already have 10 times more business experience at 14 then you have at 35 or how ever old you are.

John answers:

Ask your parents for help. Surely they’d be more than happy to help set up a joint account that they could have a debit card for that they could help you configure so the money is deposited into your joint account.

BTW, How are you able to obtain legal copies of Photoshop for under £120 to resell, and are you an authorized reseller?

Lizzie asks…

Why is the show “The Apprentice” not show really a show about becoming an apprentice?

I am finding the show “The Apprentice” be be more about product placement and execs trying to get an actually lower paying job just for the fame and fortune. The goal of being an apprentice is to learn and most of the folks choosen, are already highly successful folks, some making 7 figures a year to get a $100k job for Donald Trump.

Isn’t the goal of being an apprentice to learn a trade? In this case it’s business management. 99.9% of all “applicants” are already doing well in their choosen field. Would it not actually make sense to have a show about REAL apprenticehip? Take a person doing factory line work and “mold him or her” into a business apprentice? Looking at the background from most of these folks, seems they are there just to padd the resumes and not really attempting to become “an apprentice”.
The question is or maybe a pondering of, why the show is not about real apprentices. Real apprenticeship is taking someone NOT in the field (this case business) and teaching them. Think like this: I am the best “glass blower”. I am auditioning people to become my apprentice, learn my trade, to pass the mantel of success onto them, learn as I have learned, but I only interview successful glass blowers from other cities. Does this make sense now?

John answers:

I was wondering about the same thing a few days ago? Wouldn’t it make more sense to get candidates who really need the apprenticeship? Then again not all the candidates resumes are quite the way you describe them. Some were more successful than others. Also, some probably exaggerate their resumes a little bit. But even if you’re already very successful you could still have a lot to learn from Donald Trump that is useful. He’s known to be a great businessman.

Still, I agree with the main thrust of the question. I think the producers who select the candidates incorrectly focus on bulky resumes rather the actual character traits of the person such as ambition and intelligence. Even worse, they seem to focus on selecting candidates based on entertainment factor instead of how much he/she is likely to be hired by Trump.

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