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Hi! I’m Tomek.
From Waiter To Millionaire. Welcome.

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In my last video,
I told you about the difference

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between working on a full-time job
and running a business,

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especially an online business.

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I told you that the approach must be
different in case of running a business.

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Be welcome to check out that video.

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In this video, I’ll tell you
about the difference

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between traditional business
and online business.

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I’ll present the pros and cons of both,
because I can show them on my example.

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I want to help you with
answering questions and doubts.

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If you’re considering starting
an online business,

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then you’ll learn whether
it’s the type of business for you.

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I started as a driver,
then I was a waiter in a restaurant

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and now I’m a restaurant manager.

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And this is an example of
a traditional business,

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which I know inside out,
as I’m running it.

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So, I know what
traditional business involves

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and what are it’s pros and cons.

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At the same time, I’ve been running
my online business since 2016.

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It’s mainly Amazon, books,
simple products

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and now, since 2018, my blog
From Waiter To Millionaire.

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I earn there more than in a full-time job
as a restaurant manager.

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I want to show you the differences,
so that you can choose something for you.

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At first, let me tell you
how traditional business looks like,

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basing on the example of a restaurant,
but it can be applied to

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all kinds of businesses,
in which you have a few employees,

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your premises
and you work with people.

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What are the pros and cons?

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Above all,
working in a traditional business,

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in which you have
employees, premises

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and a constant contact with people,
you must have a very specific character.

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In the previous video,
I told you that you must have

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a proper approach to business.

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Now, having a traditional business,
you’re exposed to people every day,

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so you must be a very determined,
confident person, knowing what you want.

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Also, you must have some knowledge
and manage people every day.

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You must be able to talk to people,
be very strong mentally,

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often even slightly aggressive
and able to defend your opinion,

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because it’s the only way
to manage a small company

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with a few or over a dozen employees –
as in case of my restaurant.

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It involves watching over
everything constantly,

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as there’s always something going on,
especially in gastronomy.

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It’s a work in
a constant whirl of activity.

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A lot is going on,
many problems arise,

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because it’s not
just managing people –

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it’s also hiring people,
firing people, training people.

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Also, working with a client,
technical problems in the premises,

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as sometimes
a pipe or equipment break.

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It’s a work from morning until evening,
very responsible, often very stressful,

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involving contacts with bureaucracy.

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It’s not suitable for vulnerable people.

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But it gives a lot of satisfaction
and there’s a lot going on,

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you have a contact with people, etc.

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In order to work in such an environment,
to manage a place like this,

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you need to like it,
having this kind of

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contact with people
and a constant action.

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The question is – are you a person able to
sacrifice, be tough and fight every day?

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Or would you rather work full-time,
not worry about a lot of things

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sleep peacefully
and riding a bike after work?

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Or do you want to own such a business,
working often 14 hours a day,

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where people don’t come to work,
where people don’t want to work,

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where many things go wrong at once
and you need to manage it?

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But it gives a lot of satisfaction,
as you can overcome

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your barriers and comfort zones.

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This type of business
or managing a place like mine

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reveals a person’s character,
when they’re able to manage it.

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I believe that I can.

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That’s what a traditional business
involves. Hope I haven’t discouraged you.

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Now, how an online business
looks like?

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Basics are the same – you need to have
this entrepreneurial thinking,

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so you must switch
from working full-time

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to someone who creates his
business, invests, etc.

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But I mentioned it previously.

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When we compare it to a traditional
business, it’s still a business

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and you need the same approach.

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But online business is
a completely different kind of business.

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That’s because an online business
must be based more on yourself.

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There’s not as much contact with people.

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In case of a traditional business,
you have some employees.

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In case of an online business,
let’s say you create books on Amazon

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like me, you have your blog, courses,
then you don’t have employees.

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You can commission writing
the content of a book to somebody,

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a product’s description
or creating its cover.

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But these are occasional work orders
that you commission to freelancers

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from your computer
and from your home.

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So, you don’t have
a contact with people,

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you don’t have employees
and you don’t have clients

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you have a contant with.

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That’s because if you’re
running a business on Amazon,

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you don’t have an access to clients,
as Amazon takes over

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the whole customer service
and does everything for you.

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It’s cool, because you don’t have to
deal with customers,

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which can be
either advantage or disadvantage.

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That’s because a contact with people
is a different experience for everyone.

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I’m quite an introvert,
so I really appreciate working in peace,

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in the comfort of my own home
and an online business suits me.

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But I’m also able to manage a restaurant.

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There are different kinds of people –
like introverts, who prefer solitude,

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working from home and for such people
online business works great.

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It’s the answer for the needs of people
who like working alone

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and they feel uncomfortable
in a loud, noisy place

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where they’re attacked, often mentally,
by people and prefer working

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in the comfort of their homes.

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They focus on working in solitude,
they don’t hurry

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and are able to work
more efficiently this way.

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The question is –
what option do you prefer?

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What will work better in your case?

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I think you feel what’s better for you.

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And neither option is better.

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Some people feel comfortable
in noisy places with a lot of employees.

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Others prefer more quiet,
which an online business provides,

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even if it’s still stressful
and demands a long-term, hard work.

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But it’s happening in completely
different conditions – often in home.

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Another very important
aspect is an investment.

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Let’s say
you want to open a small pub

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or you want to open
a business on Amazon, or a blog.

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Investment in a traditional business
is simply more expensive.

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If you want to open your restaurant,
you must invest much more money.

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Renting the premises,
renovating it,

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hiring employees,
buying equipment, concessions, etc.

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These are large costs to bear.

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In case of an online business on Amazon –
even the more expensive type –

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the costs are lower.

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I’m the supporter of the idea to
open an online business gradually,

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while you work full-time
and invest some small amounts.

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In this case, investments of starting
such a business are really low.

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You can invest 10-20% of your savings
or income from a full-time job

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and start opening
an online business gradually,

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while working full-time.

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If you want to open a restaurant
or a company with a few employees,

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then you can’t have this business
and work full-time,

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but you must devote to such a business,
have more savings and time.

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So, it’s something completely different.

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Another important factor is costs,
as if you open a traditional business,

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having even one employee,
some small premises –

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I don’t even mention
bigger restaurants or companies –

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then the fixed costs are huge.

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Regardless of sales and turnover,
you have to bear these costs.

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You have to pay for premises,
employees, electricity, gas, water, etc.,

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which you use,
even if you lack customers.

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In case of online business,
your monthly costs are relatively small.

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Of course, you have to pay
social insurance and accounting.

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However, in case of
selling books on Amazon,

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you can do it even without
an economic activity.

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Nevertheless, the fixed cost of running
an online business are much lower.

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A server in case of a blog
or books on Amazon cost you nothing.

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If you create a product
for $100-200 or for free

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and release it,
then it doesn’t cost you nothing.

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Amazon handles the rest
and it doesn’t cost you anything.

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If you write a blog,
you have to bear the costs of a server

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and a few additional ones, but these are
very small in a scope of a month.

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For example, one sale is able to
exceed the cost of running your business,

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which is different in case of
a traditional business.

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That’s because a weaker month
while running a restaurant

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or a traditional business
can cost you tens of thousands dollars.

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In case of online business,
you just risk to earn nothing.

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I want to give you
some food for thought with this video,

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so that you can think
what type of business is suited for you.

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Also, what type of person are you
and what will work for you.

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Are you the kind of person
who feels comfortable at home

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or in a big company
where there’s a lot going on?

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And also, how much are you able to
invest in order to start such a business?

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If you’re interested in
an online business,

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check out my free course
where I teach, among others,

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an online business on Amazon.

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I also show how to publish
simple books, products

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and what are
the other kinds of online business.

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Find the link below. It’s free,
you just need to enter your email.

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If you’re interested in life improvement,
online business or Amazon – subscribe.

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Check out other videos, give a thumbs up
and see you in the next videos.

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Thanks a lot.
See you around. Bye!