Hi, thanks for the compliment. A very long day today. I just got back from a face to face meeting with my 14 year old intern - the first one I have agreed to mentor for over five years. He is the son of our favourite builder who is a tenant in one of our North West properties. Many people asked why I waste my time with “children”. I corrected their 19th century cultural attitude, and advised them that I was a school governor for 2 years (a charitable contribution of skills to a private school). Best practice advised by AGBIS (Association of Governing Bodies for Independent Schools) of which the Headmaster was a member, was that students in the age categories 11 to 18 could be referred to as “young adults” to achieve the cultural and behavioural shift that is necessary to avoid adversarial situations and to try to get teachers to treat the students as “equals” in terms of “top down cultural reform”. Whilst the head was on board with this (a leader), many of the staff and the senior leadership team for the upper school were, to put it politely, resistive.
On the matter of financial control, the school was both a Limited Company, so needed to comply with Companies House standards (I refer to that generally as “authority documents” and require legal specialisation so you don’t lose your licence to operate (sound familiar for the future of crypto?), and was also a registered charity, so needed to comply with authority documents from the Charities commission. Thankfully we had a barrister on board as a new governor.
What has this got to do with trading? My intern has a passion for crypto. I am unsure of the numbers, but I think he turned £20 seed capital in to about £800. For sure he got lucky, but now he has seen the Q1 losses across the board, and has put that stuff on hold.
He is 70% complete on his main task which is to obtain the blockchain basic certification by watching and taking notes on a series of online videos with Q&A with a minimum pass mark for each section - about 7 hrs in total. I spent 3 hours with him tonight, and spoke to his step father (his UK defined legal guardian) to ensure we complied with suitability requirements which in the UK require a basic background check (eg child molesters. Two things that benefit my company having volunteered to be an intern provider and provide apprentice guidance on “the gig economy” whose Health and Safety compliance consists of Display Screen Equipment course (he has a certificate for that) and cannot provide the Health & Safety at Work act because the gig economy works in the Metaverse - HSE act does not have a specific minimum set of rule that describes how Metaverse virtual offices comply because the authority documents cannot keep up with the speed of crypto and most teachers, governors and internship providers don’t know what those rules are.
The specific internship (if the candidate is interested) will be an offer of new venture participation, and because he is “under the age of consent to legally sign an NDA, a partnership agreement for profit share” I asked his father to be the legal guardian who can sign such on behalf of the proactive gig worker to take it forward. The young adult is aware that one girl in the US has made multimillion dollars trading NFTs and a person of 11 years old has made over $1M. The future plan is to transition the physical time I spend looking for setups and entries when buying and selling NFTs, of which I have established over the past four months that I THINK I have found the plan and plan algorithm to ensure a 90%+ win rate at an average markup that far exceeds what my business profit rate needs to be. So I am not philanthropic - just following the business plan to find highly motivated (to the point of being obsessive) with a potential to open another income stream within our business. A lot of work yet to do on structure, conformance plan to authority documents, fierce attention to governance (which is absent from nearly all of the 20 or so “Roadmaps” and whitepapers I have read. He may fill one of the many roles in future that I need to find and bring on board to ultimately create a business. As a co-founder, he may earn enough shared profit from doing the grunt work whilst I guide and reconfirm that the trade plan has a repeatable, low volatility positive edge.
And what do people do if they think they have found a positive edge? Provide “knowledge transfer” to customers who are keen to “franchise the business model” and are willing to pay a fee for geographical, national or other basis of unique franchising. That could be provided by the way of an NFT (terms that cannot be changed in future) and automated distribution (multisig crypto wallet that auto-distributes net income to agreed “stakeholder” wallets that has an internal and external audit element, a “trust” for governance of the start up with eventual income distribution per profit (still to be determined as a DAC, DAO, crypto currency, or whatever new age “metaverse” entity that has a roadmap to compliance with future legislation and authorities conformance no matter how many legislative “approvers” each nation decides to apply to metaverse organisations.
Life is good, full of surprises - and that is achieved not by following the leader but dreaming as a creator. Does anyone really care if they make $1 or $10M or $100M if the new startup entry timing is good? What really drives entrepreneurs is the thrill of the game, and having to win. When you compare yourself with your ideal plan standards, that is truly a motivating (and maybe life changing) benefit. I love hard work. The more I work, the luckier I get (quote from somebody) The Harder I Practice, the Luckier I Get – Quote Investigator
And by the way I reached out on this forum a few months ago to make that offer to anyone who was willing to ask more and exhibit an interest - not one response to that post. And that tells you something about the reason that 95% of Forex investors fail. It’s the same ratio for other UK businesses. This statistic is over a decade old, but is based on fact.
For each new start up company that registers in the UK, one in five (20%) will still be in business within the first five years. Of those that manage to survive for 5 years only one in 5 are still in business. So survivors after 5 years are 20% of 20% which is 4$ still trading, 96% liquidated, the vast majority due to trading losses. When we traded (physical goods and services in the Middle East area) we lost 80% of our maximum commit capital, but took on just two service contracts that made us profitable. We tracked our BSR rate (bid success ratio) = number of jobs won divided by number of jobs bid, and our GPR (gross profit ratio) = value of jobs sold divided by value of jobs bid. In summary, our metadata that provided an indication of trend - because there was a delay in deciding who won the bid of between 60 and 90 days, the smooted average on a monthly basis of this metadata allowed me to know what our gross income was likely to be six months down the line, and I was able to predict a mid term market shrinkage with six months lead time. By accepting resignation of 2 staff, and closing the contracts with notice on four other (income sharing contractor resource engineers that were underperforming) break/fix repair engineers, our fixed costs were reduced and we weathered the storm for 2 years until our GPR trend slowly started to increase and we knew we could not fulfil all orders to stay within the SLAs of the general terms of contract. I instructed our bid team to increase the gross margin on very small jobs to align more with the internal bid cost and reduced the gross margin on large jobs. When the customer needed to increase parts quantities in field stores, our gross profit went to 200% of business plan. The same year we move legal jurisdiction from Cyprus to Dubai free zone, and saved the move costs on mitigated tax payable in both Syria and the jurisdiction of the trading company.
Not much of this I copied from anyone else. I just applied a basic principle “at the end of the job you have to have more cash than when you started” I had learned this from a 21 year old roofer millionaire on a management course. Choose your company well, and surround yourself with achievers. It can’t hurt.
but it seems strange that you hold 15% XRP but don’t have any NFTs which are extremely popular nowadays. Have a look at 
.