Tag: expenses

My new startup

Posted on by Steve Sammartino

I’m launching a new startup. For those who don’t know about it here are some of the key points:

  • The brand extension comes from an already successful enterprise
  • The partnership & legal agreements were entered into over a year ago
  • The idea is not an original one, rather a new execution of a proven formula
  • We didn’t pitch the idea or ask for permission, we just did it
  • It’s a brand extension
  • It’s a self funded project with no external capital. But we wont have ownership
  • We will give away the corporation, once it is cash flow positive
  • It’s a very long lead project
  • It wont be cash flow positive for more than 20 years
  • Estimated cost of the project is around $500K
  • We do expect to however, to yield emotional & community benefits very early after launch
  • It’s an industry we’ve never worked in before, but have a natural flair for it
  • Some of the product development will be outsourced to 3rd parties
  • Outsourcing will occur in 3 large segments of up to 6 years each
  • The most important product development will be done in house
  • There wont be any major advertising, brand awareness will be driven through family & friends
  • We already know it’s unique, but wont require any intellectual property protection
  • However, major security measures will be taken to protect the asset, especially in the incubation phase

My new startup is my baby due January 25th, and it’s the most exciting one I’ve ever been involved in. We’re involved in more startups than we think…

Startup Blog says: Let’s not define ourselves by what we own, but the cool stuff we do.

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Broken car = broken life

Posted on by Steve Sammartino

The title of this post is a philosophy I have. People often disagree siting financial hardship, opportunity, income, age… you name it. They can argue all they like but it is true. People who look after themselves, have pride and a solid work ethic have nice cars. Not necessarily expensive cars, but cars which are washed regularly, are tidy inside, and don’t have any obvious dings or fractures which are to be fixed.

Keeping a clean car doesn’t really cost any money, just a little bit of time and effort. In fact it usually saves people money, just like servicing a car does. Sure, cars get smashed, need repairs and are generally a necessary expense and not an asset. But like all things, delays in making it right will have a compound effect. Dints which aren’t fixed get rusty. Unserviced cars break down more often.  Trying to save money letting your car go, just costs money in the long run. People with unbroken lives know this. It also has an important impact on your own self worth and psyche. Not to mention other peoples opinions of you, rightly or wrongly.

Show me an adult with a broken car, and I’ll show you a person with a broken life. (students are the exception)

Below is a classic example. Both cars of similar style and age. The first is owned by a person with a broken life, the other with by a person with a great attitude.

Crappy car

Classic Car

Do the test for a week or two. Assess the people you know and the state of their vehicle. It tells a very clear story.

Startup blog says take pride in all you do and all you own and your life will be better.