Archive for October 23rd, 2006

23
Oct
06

grindin pt.2

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okay, done with dinner…
getting back to the matter,
reason why i’m posting this, is because, for some reason I seem to get in a lot of conversations with people about their ideas for new businesses. most of the time, these people have grand visions about what their business will be like, but don’t even know what margins they are going to be operating on…
more stuff to think about:
you’re only as good as your money man. make sure you or one of your partners is willing AND capable of handling the company’s finances (paying bills, accounting, checking numbers twice, hunting people down who owe you money, tactfully avoiding people trying to collect money, getting loans, advanced math). depending on the size of your business, this is usually a full-time job. if you don’t have anyone in your group that can do this, find someone you trust before proceeding.
you should think in solid business terms and definitions as soon as possible. this is inevitable if your business succeeds, but the earlier you think about it, the more potential problems you will avoid. we did the head down thing for a couple years, and a couple of unfortunate lessons that we crashed into helped us change our ways. there is a reason why people go to business school.
don’t let me dissuade you from the grind. once you’ve mastered it, it’s a very fulfilling thing. it becomes its own growing thing, and you just have to direct it somewhere and make sure it runs smoothly.
okay, enough…
and good luck.
ps. an awesome show to learn business lessons

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23
Oct
06

grindin

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okay, i am by no means a business or economics master, but I would consider myself, somewhat of a homegrown retail expert. starting your own business without formal training is an enlightening and humbling process. the first mixer we sold was purchased with a stolen credit card (duh, so that’s what the red “N” means?). I still remember dude’s email… Betadays…
another duh story is about margins. I think for our first month of existence, we were calculating price margins wrong, which means that we were pricing shit wrong. we’ll for all you people that want to enter the pseudo-glam world of boutiques and online shops, here’s my personal experience with margins (don’t quote me on this shit, but in my experience this is valid stuff).
price margins appear to have an indirect but strong correlation with grind (hustling, working your ass off, all-niters). if your margins are 75% or below, you’re probably grinding your ass off. ever see those luxury goods boutiques (stress luxury) where the workers and owner are just chilling with a couple things for sale? he or she probably has some nice margins. sell one thing, cover your rent for the day. if it doesn’t move, slash it in half, and sell it on sale while still making nice margins. The lower your margin, the more you have to sell, manage, and push. What about Tower? Low margins (probably around 25-40% at best), tons of products, tons to manage, tons of employees, tons of overhead…. The Grind killed them….
therefore, if you want to get into the retail biz, I really suggest checking out your potential margins. look for areas where you can offset low-margin goods like creating your own goods that you’ve produced or offering services. but if you’re hovering around 50% or below, get ready for A GRIND THAT YOU HAVE NEVER KNOWN.
tings:
– retailers make less than 15% margin on iPods! the computer industry in general has the lowest margins (sometimes 10%!). many businesses in this industry make their money on repairs and upgrades.
– in my opinion, go invent something. it’s a singular goal, and has clear fail & success signs.
– location. location. location.
– internet dudes: there are many of hidden costs when operating a successful e-commerce shop, research the hell out of it before proceeding.
– especially in retail, make sure your grind = proper compensation for yourself. always cut something off for yourself, no matter how small the piece. remember props and a cool self-image don’t equal shit in the long run.
i thought i was going to write more, but i’m hungry.
sincerely yours,
the dream-smasher
ps. not salty, just lookin out.

23
Oct
06

Attention TTL blog readers: I NEED AN INTERN!!!!!!!!!!
Basically I need someone two days a week for the next four months to basically help me with organizing and cleaning my records, putting stuff up on ebay, helping me around the Lab, research for my freelance design work, carrying my records (Serrato is for losers), and just taking notes. I have a lot of ideas and sometimes I just with there was someone there to write shit down for me. You know?
Stipend: 10 dollars a day plus lunch and travel.
Benefits: Real NYC Experience and working one on one with me.
This is great for students. I can work something out with your school so you can get course credit.
Serious responses only: drpitts “@” gmail.com or hit up my myspace http://www.myspace.com/drpitts

23
Oct
06

I thought

I thought for sure Lloyd’s response to Mr Handz would be FAYBAN by Screwball, but I don’t think that video exists.

23
Oct
06

RE-UP Records is that shit

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Sorry for the lack of posts. Been busy launching my new record label.

23
Oct
06

youtube pt.20249

anyone who was in Maryland in the 80s knows what this is all about…

also check this madness… (via hellominor)

23
Oct
06

Mr Handz,
I dont know what to say. im offended that youre offended. im not one to appologize even tho you more then likely could beat me up. not because youre obssession with me leaves you in a place where you cant function in normal life (thats understandable) but because you in fact have “tru_handz”. by the way, 97 called and they want their email address back. For thos that dont know i loath hip hop spelling and the fact that you have tru and handz in youre email address not only validates me but also makes you a shoe in for “DA WORST DUDE EVA”
I dont know about you tru, but as far as im concerned im above this shit. If you or anyone has a problem with me they can shoot me a line….djlloydski@hotmail.com there we can talk life, i can give you advice, we can build and then maybe il let you manage a street team for me in your town.
because you hate my face so much. i leave you with a song….

cheer up tru,
Lloydski
K fed report:
he’s currently in talks to be in a hip hop musical directed by sticky fingaz called “caught on tape.”
here’s what mr. fingaz had to say about the project.
“This is a hardcore musical – lots of violence, sex, action, drama, plus sentiment and romance as well.
“It’s K-Fed’s acting debut. He’s really cool.”
K FED 1
EVERYONE ELSE 0