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Thanks for the comments and questions guys. Having read some of the comments here, it's pretty obvious that most people only read the title and don't even watch the video. I am going to make another video about how to get paid high wages, to clear up some of the confusion here. For the record, I think people should be paid well, but that must be paired with good work that justifies a high wage.
Life isn't fair.
I always felt the question is disingenuous because 'Fair' isn't a measure.
Hey, iam a new fan, from Ontario. You make some great points and agree for the most part. And iam inspired by you, and may give urban farming a try. Although I must say, that here in Ontario rent is crazy. 1200 dollars a month for a bedroom in a house, no kitchen and no bathroom, plus all other necessities you at a min of 3000 a month, that's why new business are going in debt not because their, not making money, we have to be carefull with cause and affect, now in my case and yours,you said you started with nothing, so obviously you want have much until you build it up, but the are essentialy to different problems, this is why their need to be more incentives and funding from the government for people that are trying to make the world a better place by breaking healthy food and jobs.
Hey Curtis,
For a few months mnow I have been trying to purchase your book.
I live in Israel.. can we discuss shipping costs ?
P.s thanks for recommending Perkins that guys is a pro!
This is super inaccurate, simply because the variables are not comparable. Not all businesses fail to profit reasonably, immediately. Maybe farming? Sure. But theres a billion different businesses out there. The way you calculate 3.75 an hour is easily debatable…
You have the best farming channel on the internet, bar none! No one crushes it like you! I love it and appreciate it my Canadian brother! I will one day be your not to distant neighbor when we move to northern Idaho.
wow, cant see how someone would give this a thumbs down….
Better to bust ass save up for a fully automated aquaponics system and stay small scale. With the right markets you can make $100k a year with just yourself and spouse and kids doing the work. It really depends on how big you want to go. I would be happy with $60k a year profit margins. I dont need more than that to be happy and have everything I need. What I do need however is the $100k to acquire land construct the greenhouse and aquaponics system along with solar power system to offset the hydro costs.
Too much talk
now this fucker has a green screen lol talkin bout 3 bucks an hours hahahah
To say that you worked 4000 hours in a year and made 15 grand then employed someone the next year is retarded
if you can't afford to pay your employees a living wage then you can't afford empolyees
How is a worker supposed to eat off $3.50 an hour? Much less put clothes on their back or sleep under a roof
You cannot compare your startup wage with that of a worker. A worker gets only the pay per hour period! If you build a startup without a 6 digit exit plan you are a fool. If you employ anyone that costs you money you are a fool. You should make money out of those you employ. If you pay them $5 an hour you should get an increase in turnover of $15, if you pay them $50 an hour you should get an increase in turnover of $150.
You're saying that just because you exploit yourself for a few years to start a business means that the people you employ don't have a right to complain about being exploited. When small business owners do this sort of thing, they're deflecting from the larger issue of economic inequality and imposing a bootstraps mentality on the poor, where the only real solution is to work harder and stop complaining. But entrepreneurs don't benefit from the class divide they defend, at least not as much as the ultra rich do, so they have to hustle in order to make it. You could make a case for a worker owned cooperative, where all the members share in the work and profits. But instead you double down and reinforce a system that leaves everyone fighting for crumbs at the end of the day.
Of course it's worth hiring and paying top dollar for that hire. It will increase productivity… even Double it! So Yes… Hire someone Good and treat them Great! Even better when it's family. Treat them well and they will break their backs for the business. Increase productivity by hiring a replacement for yourself basically.
This is the dumbest argument ever. You can't compare a person starting a business with a hired hourly employee. Unless the owner give the employee a certain percentage of the overall earnings then and only then can you compare the two.
the only fair in life is the county fair
I don't think you're understanding how the majority of people think anymore. It's not even dollars and sense, it's just dollars. It's about learning anything, or liking your job, or liking your life, it's just about making dollars. You do a job, learn nothing, quit or get fired, and get a new job, to make money. And then keep repeating that.
Its pretty hard to compare starting something to working for someone. They get all the reward if things go well. Very few owners are going to make their employees rich if things go well. Also if you do not see eye to eye with the boss you are out the door and all that "cheap" labor you donated to help them get on their feet is forotten. I agree cheaper pay can be ok if you are gettin other benifit such as learning a trade.
No job that needs doing needs to be done for less than a living wage.
If your business model requires labor for less than a living wage, get a new model.
Paying yourself less in monetary terms is normal when starting a business, the value you're creating doesn't go to making money, it goes to creating infrastructure, or a brand, or perfecting a process.
Keep in mind it's an investment and you also get to eat your products so you spend less on groceries. The free market should dictate wages, this way if employer A) pays $5/h and employer B) pays $6/h for the same job, people will want to work for employer B) and eventually prices become established of what work is worth…..and then it inevitably goes back to an established medium. It will always repeat this way. I don't agree with minimum wage…I would work for you Curtis for free knowing that the amount of knowledge I would receive would be what I would actually be working for….I would work for knowledge and skills rather than money or a higher wage.
u r making a fraction because its an INVESMENT in YOUR business. ppl working FOR you arent going to have a piece of the biz and thus they need the money up front in the form of a min wage. ive worked for myself and for others, and i expect too even make no money at first. its your choice to start a business, so dont compare min wage to a entrepreneurs salary. sheesh ive seen this happen to biz owners they lose perspective. and again, ive worked on my own biz. if u want to make a video on how u may not make money as an entrep. thats fine, but dont make a comparision to workers wages.
Pride of what u do is being lost nowadays.
Thanks for the great insights!!!
This attitude is a major part of the worlds problems. Yeah, it's important to work hard and grind it out. I've started two successful businesses in my lifetime, but I've never paid someone a wage that would prevent them from paying for life's basic necessities. There will always be a power imbalance between the business owners and the workers, there are fewer of us and more of them to choose from. Once you have them in a job, even if they are doing really well and worth more, there is an inherent cost and risk to them quitting and finding a new job.
I didn't make money for the first two years of my most successful business. I slept in the back of a car when I had to travel for work and showered at a golds gym, but I would never use that as an excuse to not pay someone a decent wage. I'm the one who took the risk to own a business.
Interesting points. Should be a part of a greater conversation about compensation which includes equity and dividends. As the business owner you can control how much equity you keep in the company or can attract talent with shares in a company but lower pay than what is offered in the market. I've seen this time and time again with Video Game Developers. A key difference is that in that industry success is more likely if you have a team. If you had a great team mates who you know could deliver, you knew that even if you had 1% equity that could equal millions of dollars if the title was successful.
Most people don't look at minimum wage logically and in reality.
Solid business advice. Thanks.