Why are some people good at business and others not?

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  • ADL Colin
    Too lazy to set a custom title
    • Feb 2001
    • 11929

    #1

    Why are some people good at business and others not?

    There are some people who just never seem to get this business. No matter what they do they remain making a low income. Others have created successful businesses over and over again?

    So what makes one person successful at it and another not?

    Intelligence? Luck? Ambition And Drive? The Right Heuristics?

    If someone is just not getting it is there much hope for them? Ever?


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  • woj
    <&(©¿©)&>
    • Jul 2002
    • 47882

    #2
    Originally posted by ADL Colin
    Intelligence? Luck? Ambition And Drive? The Right Heuristics?
    Mostly willingness to take a risk (40%) + Ambition/Drive (40%)
    with a little luck (10%) and intelligence (10%) mixed into it too...
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    • Nicky
      Too lazy to set a custom title
      • Mar 2003
      • 30071

      #3
      Originally posted by woj
      Mostly willingness to take a risk (40%) + Ambition/Drive (40%)
      with a little luck (10%) and intelligence (10%) mixed into it too...
      I'd put willingness to take a risk at 20%, ambition/drive at 50% luck at 5% and Intelligence at 25%.

      gfynicky @ gmail.com

      Comment

      • mikesinner
        Confirmed User
        • Nov 2005
        • 5646

        #4
        It just a certain part of the brain that is more developed.

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        • $5 submissions
          I help you SUCCEED
          • Nov 2003
          • 32195

          #5
          Good question. One of the most common traits I noticed among successful people is that a lot of them think in mathematical ratios and efficiencies. For example, knowing how much the ROI is for each 100 or 1 mb block of bandwidth. In addition, they are able to extrapolate and come up with alternative "what if" scenarios. I think it is this ability that allows them to spot potentially profitable, not so profitable, and downright money losing opportunities.

          Many also share the trait of not worrying about 'averaging' sunk costs that gets most people. They realize that for the loss it is and move on.

          Comment

          • TheSenator
            Too lazy to set a custom title
            • Feb 2003
            • 13340

            #6
            You need balls to survive in this biz.
            ISeekGirls.com since 2005

            Comment

            • Joshua G
              dumb libs love censorship
              • Jul 2008
              • 8198

              #7
              vision...

              Comment

              • WWC
                #1 Adult Content Provider
                • Jul 2003
                • 11577

                #8
                It requires experience, education and some luck!
                [email protected]
                ICQ : 494-353-230
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                • webmasterchecks
                  Confirmed User
                  • Oct 2006
                  • 1685

                  #9
                  id say about 5% of the population is very good at biz, and most of them dont post here
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                  • slavdogg
                    Confirmed User
                    • Jan 2001
                    • 3570

                    #10
                    right attitude
                    determination
                    critical thinking and problem solving skills
                    ability to learn quickly and adapt

                    To answer your question, you must first answer the question of why the same people keep failing or are always less successful than others.


                    Whats up Colin ?
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                    • Kard63
                      Confirmed User
                      • Nov 2003
                      • 8944

                      #11
                      Originally posted by Nicky
                      I'd put willingness to take a risk at 20%, ambition/drive at 50% luck at 5% and Intelligence at 25%.
                      Ha ha, conservative pussy! Sit back and cherry pick the good deals with that big brain of yours ;)

                      Comment

                      • webmasterchecks
                        Confirmed User
                        • Oct 2006
                        • 1685

                        #12
                        i remember reading that the top rated ceos have very similar brain chemistry to psychopaths, you don?t want any emotion in business decisions, I think that?s one of the hardest things
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                        • kane
                          Too lazy to set a custom title
                          • Aug 2001
                          • 20684

                          #13
                          I think a lot of it is just personality. I think most people like the idea of having a steady job with a reliable income. The idea of going to work 40 hours a week and knowing how much they will get on pay day puts a lot of people of ease and the idea of not knowing and risking things to forge their own path scares them and they are not willing to put up the risk. Sometimes I think the idea of investing any amount of money into something without a guaranteed for some people is something they are just not willing to do for whatever reason.

                          Here is a good example. A friend of mine gets laid off from his job. He works for a construction company and had a hire back date 90 days away when a new contract the company has will kick in. So he basically has 3 months off on unemployment with nothing to do. He asks me how to make some money online and I give him some advice. The advice I give him will have him spend about $200 (his wife was still working so they were not hurting for money). I tell him if he works hard during his layoff he could have a decent little side business going by the time he gets back to work. After a full day of showing him stuff and giving him advice I leave. The next day he tells me he isn't going to do it because he doesn't feel comfortable investing the $200 into something he doesn't know that much about.

                          So instead he spent the money on x box live and played halo. Six months later when I point out to him that he had spent about $100 on video games over those three months (xbox live cost plus buying another new game) he just shrugs. I then say, "For an extra $100 and the same amount of time you investing in learning how to kick people's asses at Halo you could have a business going right now." He just kind of slunk down in the couch and admitted that I had a good point, but it seemed like a lot of work to get things going.

                          So to me it takes a certain type of personality just to decide to make the jump and start a business . Of those people that start and run their own business I think they have a make up of 15% intelligence and ideas, %15 know how and learning (knowing or learning about the business they are getting into), 30% courage to try and be willing to fail and 40% hard work and ambition to put in the time to make it work.

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                          • LoveSandra
                            So Fucking Banned
                            • Aug 2008
                            • 10551

                            #14
                            Originally posted by woj
                            Mostly willingness to take a risk (40%) + Ambition/Drive (40%)
                            with a little luck (10%) and intelligence (10%) mixed into it too...

                            Comment

                            • BV
                              wtf
                              • Sep 2001
                              • 10914

                              #15
                              If at first you don't succeed, redefine success.

                              Comment

                              • MrDeiz
                                • May 2008
                                • 9802

                                #16
                                i believe in luck.

                                some ppl have it, some haven't
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                                • kmanrox
                                  aka K-Man
                                  • Oct 2001
                                  • 29295

                                  #17
                                  i'd say 50% genetics, 50% ambition
                                  Crypto HODLr
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                                  • V_RocKs
                                    Damn Right I Kiss Ass!
                                    • Nov 2003
                                    • 32447

                                    #18
                                    Some people are just born stupid.

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                                    • BigRod
                                      Confirmed User
                                      • Apr 2005
                                      • 3685

                                      #19
                                      I think the ability to balance all the above is the KEY
                                      Rod Macdonald
                                      Mainstream Ad Agency Owner
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                                      • StaceyJo
                                        Confirmed User
                                        • Mar 2008
                                        • 8960

                                        #20
                                        Motivation, passion, attitude.
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                                        • ADL Colin
                                          Too lazy to set a custom title
                                          • Feb 2001
                                          • 11929

                                          #21
                                          Originally posted by slavdogg
                                          right attitude
                                          determination
                                          critical thinking and problem solving skills
                                          ability to learn quickly and adapt

                                          To answer your question, you must first answer the question of why the same people keep failing or are always less successful than others.


                                          Whats up Colin ?
                                          Hey Slav,

                                          Great list. I used to teach high school and that is pretty much my list of what skills are required to become a great teacher too. I'd say those skills predict success in a lot of areas.


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                                          • notime
                                            Confirmed User
                                            • Jun 2003
                                            • 8025

                                            #22
                                            love and passion for what you do

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                                            • ADL Colin
                                              Too lazy to set a custom title
                                              • Feb 2001
                                              • 11929

                                              #23
                                              One thing that comes to my mind is the ability and desire to make continual improvements in one's operation. Say are just starting out and have figured out how to make $30/day. This reminds me of my first day back in 1996. well, really about my 7th day. I think I made .57 my first day in Cybererotica's pay per click program. The first thing that hit me was "Aha! $30/day! This is already $11,000/year. Now how can I improve this to $35/day, $40/day, $50/day and so on". Automation and hiring are two of the best ways to do that. But even making little tweaks here and there can improve ratios and traffic. Takes good judgement too. Am I better off gunning for more traffic or better ratios?

                                              Another thing is realizing that a cut in expenses is equivalent to a raise in income. Never forget the simple things. The bigger you get the more you should look for cost cuts.
                                              Last edited by ADL Colin; 02-09-2009, 03:05 AM.


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                                              • J. Falcon
                                                www.AdultCopywriters.com
                                                • May 2006
                                                • 31645

                                                #24
                                                Attitude, ambition, balls and common sense.
                                                Adult Copywriters



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                                                • SordidMedia
                                                  So Fucking Banned
                                                  • Oct 2008
                                                  • 283

                                                  #25
                                                  Originally posted by daizzzy
                                                  i believe in luck.

                                                  some ppl have it, some haven't
                                                  Nonsense. Being successful is nothing to do with being lucky.

                                                  Often it is nothing to do with academic qualifications that some people will try and have you believe.

                                                  Some of the qualities needed are vision, determination, being innovative and being prepared to take risks. These type of skills tend to be inbuilt (and not something that can be learned).

                                                  Comment

                                                  • ADL Colin
                                                    Too lazy to set a custom title
                                                    • Feb 2001
                                                    • 11929

                                                    #26
                                                    Originally posted by Jesus H Christ
                                                    The number one thing I've seen is "timing" then followed by having this formula.

                                                    1.timing
                                                    2.money
                                                    3.execution
                                                    4.sales

                                                    I never seen a successful person last long in business just out of pure greed. The majority motivation (IMO) stems from having the business tools learned from family or schooling. This is why a high % of Jews will always do well because from birth they are taught how to succeed and the true value of money or the power that goes with it.
                                                    What do you mean by greed? Are you saying you've never seen anyone succeed solely out of a desire to create profits? Or do you mean something else?


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                                                    • nation-x
                                                      Confirmed User
                                                      • Mar 2004
                                                      • 5370

                                                      #27
                                                      I watch alot of those that fail do the same thing that has been failing them over and over and over... this is the exact reason I made my current sig line.

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                                                      • StuartD
                                                        Sofa King Band
                                                        • Jul 2002
                                                        • 29903

                                                        #28
                                                        Not everyone can be an artist or musician either.
                                                        Some people, no matter how much you teach them, they can never have rhythm or understand how to draw very well.

                                                        You can take them a certain way but they'll never make masterpieces.

                                                        You can apply that to most anything, including business. It's just not in some people. You can teach them to a certain point but they'll never build an empire.

                                                        It doesn't mean they were "born stupid" as was said in one post. Perhaps their strengths/interests just lie somewhere else.
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                                                        • Fletch XXX
                                                          GFY HALL OF FAME DAMMIT!!!
                                                          • Jan 2002
                                                          • 60840

                                                          #29
                                                          Some people dont even seem to be able to write emails in this business. Posting on a board is one thing, but when you send me an email at least TRY to be a professional.

                                                          Want an Android App for your tube, membership, or free site?

                                                          Need banners or promo material? Hit us up (ICQ Fletch: 148841377) or email me fletchxxx at gmail.com - recent work - About me

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                                                          • polish_aristocrat
                                                            Too lazy to set a custom title
                                                            • Jul 2002
                                                            • 40377

                                                            #30
                                                            skills are another thing

                                                            to run a credit card cross sale operation, you require good business sense
                                                            to dominate the SE's, you just need to have proper skills

                                                            some people assume that everyone in this biz is a tech guy, but it's not the case

                                                            but it's surely not the most important factor, since things can be outsourced etc...
                                                            I don't use ICQ anymore.

                                                            Comment

                                                            • Iron Fist
                                                              Too lazy to set a custom title
                                                              • Dec 2006
                                                              • 23400

                                                              #31
                                                              Rich Contacts and Friends = 90% The Right Idea at the Right Time = 5% Keeping it Secret = 5%
                                                              i like waffles

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                                                              • ADL Colin
                                                                Too lazy to set a custom title
                                                                • Feb 2001
                                                                • 11929

                                                                #32
                                                                Originally posted by polish_aristocrat

                                                                to run a credit card cross sale operation, you require good business sense
                                                                to dominate the SE's, you just need to have proper skills
                                                                We used to dominate the SE's and it was a business operation more than just having the proper skills. I don't doubt that one person with just the "proper skills" could do well at it but from our perspective it was more of how to run a good business. I've always believed in using as many employees as possible in your organization to brainstorm. Anyone who is capable of contributing should be brought into that role. You get a networking effect the more people who are working on a particular solution.


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                                                                • ADL Colin
                                                                  Too lazy to set a custom title
                                                                  • Feb 2001
                                                                  • 11929

                                                                  #33
                                                                  Originally posted by sharphead
                                                                  Rich Contacts and Friends = 90% The Right Idea at the Right Time = 5% Keeping it Secret = 5%
                                                                  i'd be willing to bet that almost everyone who has done well in this business started out without any "rich contacts and friends" but maybe you are joking?


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                                                                  • ADL Colin
                                                                    Too lazy to set a custom title
                                                                    • Feb 2001
                                                                    • 11929

                                                                    #34
                                                                    Originally posted by Jesus H Christ
                                                                    ..Oh yes, I have seen many succeed on greed, but it's short term. This is why more then a few stock market firms are currently out of business.
                                                                    As opposed to what then? I mean, most people I know who have done well have their number one motivation as making money. is it what they intend to do with the money that makes them greedy in your eyes? Or is it that you think they should have a more nobe motivation in owning a business -- like "to build something that lasts"?


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                                                                    • WeirdHomer
                                                                      Confirmed User
                                                                      • Aug 2007
                                                                      • 806

                                                                      #35
                                                                      Knowledge, skills, patience, unique ideas and investment money

                                                                      I pledge by these

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                                                                      • CurrentlySober
                                                                        Too lazy to wipe my ass
                                                                        • Aug 2002
                                                                        • 38939

                                                                        #36
                                                                        Because some people like poo, and some people dont...


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                                                                        • ADL Colin
                                                                          Too lazy to set a custom title
                                                                          • Feb 2001
                                                                          • 11929

                                                                          #37
                                                                          Originally posted by WeirdHomer
                                                                          Knowledge, skills, patience, unique ideas and investment money

                                                                          I pledge by these
                                                                          I'm down with the first three.

                                                                          I've never cared much for unique ideas in business. I'd rather coattail on a great idea and be second or third to market on something more proven than trying to work with a unique idea. The failure rate is just too high.

                                                                          Do you really need much investment money in this business? I started with $50 in my pocket. how about you?


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                                                                          • polish_aristocrat
                                                                            Too lazy to set a custom title
                                                                            • Jul 2002
                                                                            • 40377

                                                                            #38
                                                                            Originally posted by ADL Colin
                                                                            Do you really need much investment money in this business? I started with $50 in my pocket. how about you?
                                                                            could you start again with $50? if yes, what would you do?
                                                                            I don't use ICQ anymore.

                                                                            Comment

                                                                            • WeirdHomer
                                                                              Confirmed User
                                                                              • Aug 2007
                                                                              • 806

                                                                              #39
                                                                              Originally posted by ADL Colin
                                                                              I'm down with the first three.

                                                                              I've never cared much for unique ideas in business. I'd rather coattail on a great idea and be second or third to market on something more proven than trying to work with a unique idea. The failure rate is just too high.

                                                                              Do you really need much investment money in this business? I started with $50 in my pocket. how about you?
                                                                              I started with zero investment at the end of the 90's but along way i had to invest, now more then ever. The days where you can for example submit for free and have quality traffic is gone. Now i buy paid spots, add spots, etc... So for people starting now, i would say you need to invest.

                                                                              I do work alot with the "old school" marketing strategy but i try new things along the way and have to invest to realize them.
                                                                              Last edited by WeirdHomer; 02-09-2009, 05:11 AM.

                                                                              Comment

                                                                              • ADL Colin
                                                                                Too lazy to set a custom title
                                                                                • Feb 2001
                                                                                • 11929

                                                                                #40
                                                                                Originally posted by Jesus H Christ
                                                                                All business motivation is to make profit. The ones that last the longest IMO are the ones who strive daily and enjoy to provide the best goods or services for a competitive price. So when you ask "Why are some people good at business and others not?"...does "good" mean THE most profitable?
                                                                                For me, yes. The most profitable for the longest amount of time.

                                                                                What you've said is a little tricky in this business because many of us are B2B. Who is our customer? The affiliate or the end-user? You could provide a great service to your affiliates and only a so-so experience for your end-user and have a long term, sustainable business. There are people who have come in this business made over $10 million and then closed up shop -sometimes under shady circumstances. "good" or not?

                                                                                I don't have any problem with your definition either. if it's your goal to create a long-term viable business aimed at creating the best experience at a "competitive price" that's great. i think that is one of just many ways to create a successful business though.
                                                                                When I started out my first year out of college and was running circle-jerk sites I was providing no useful service to any end-users. I was providing a good course of traffic for people who wanted to trade traffic with me though.. And this lead to 6 figure income in my first year out of college. It was a good start and a good learning experience.


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                                                                                • ADL Colin
                                                                                  Too lazy to set a custom title
                                                                                  • Feb 2001
                                                                                  • 11929

                                                                                  #41
                                                                                  Originally posted by polish_aristocrat
                                                                                  could you start again with $50? if yes, what would you do?
                                                                                  I am pretty sure I could. Even though I only had $50 cash to my name I had something else; sweat equity. I offered my time and services to someone in exchange for server space.
                                                                                  Another thing people can use is credit cards though at the time mine were maxed.

                                                                                  I actually started without legal standing (no business license) until I had created a small profit.

                                                                                  I'd start the same way today as I did then. I'd start a niche targetted review site aimed at something in particular. Tube sites reviews, dating sites reviews, cam site reviews. Something like that.

                                                                                  In addition to the profits from the website it is a good networking opportunity. If you can get a review site going that sends substantial traffic people WANT to do business with you. I know I am always happy to be listed on review sites that send me signups :-)

                                                                                  How about you, polish aristocrat? How would you answer the same question?


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                                                                                  • ADL Colin
                                                                                    Too lazy to set a custom title
                                                                                    • Feb 2001
                                                                                    • 11929

                                                                                    #42
                                                                                    Originally posted by Jesus H Christ
                                                                                    Some great points. My point is to first enjoy what you do AND make a profit.

                                                                                    "The affiliate or the end-user?" ...this is my prediction for the next year. I am willing to bet AFF and others will go 100% free and follow the lead of PlentyofFish.com or the new free version of Match.com. AFF is already "overexposed" so why even deal with the high cost of affiliates?
                                                                                    As the owner of a dating program I hope you are wrong. Marcus at Plenty of Fish makes his money from adsense. Basically he is selling his free visitors to paid dating sites. I'm not sure the free model would work very well if there weren't paid dating sites to sell teh traffic to.

                                                                                    Marcus at Plenty of Fish wrote something interesting a few months ago:

                                                                                    "The problem with free is that every time you double the size of your database the cost of maintaining the site grows 6 fold. I really underestimated how much resources it would take, I have one database table now that exceeds 3 billion records. The bigger you get as a free site the less money you make per visit and the more it costs to service a visit.

                                                                                    We are going to start introducing some products and features to try and get some of the 10 to 20 million dollars a month my users are spending elsewhere. There is really no money in being free and we have to start experimenting with other models now or we won?t be able to compete in 3 or 4 years."


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                                                                                    • ADL Colin
                                                                                      Too lazy to set a custom title
                                                                                      • Feb 2001
                                                                                      • 11929

                                                                                      #43
                                                                                      Originally posted by kane
                                                                                      I think a lot of it is just personality. I think most people like the idea of having a steady job with a reliable income. The idea of going to work 40 hours a week and knowing how much they will get on pay day puts a lot of people of ease and the idea of not knowing and risking things to forge their own path scares them and they are not willing to put up the risk. Sometimes I think the idea of investing any amount of money into something without a guaranteed for some people is something they are just not willing to do for whatever reason.

                                                                                      Here is a good example. A friend of mine gets laid off from his job. He works for a construction company and had a hire back date 90 days away when a new contract the company has will kick in. So he basically has 3 months off on unemployment with nothing to do. He asks me how to make some money online and I give him some advice. The advice I give him will have him spend about $200 (his wife was still working so they were not hurting for money). I tell him if he works hard during his layoff he could have a decent little side business going by the time he gets back to work. After a full day of showing him stuff and giving him advice I leave. The next day he tells me he isn't going to do it because he doesn't feel comfortable investing the $200 into something he doesn't know that much about.

                                                                                      So instead he spent the money on x box live and played halo. Six months later when I point out to him that he had spent about $100 on video games over those three months (xbox live cost plus buying another new game) he just shrugs. I then say, "For an extra $100 and the same amount of time you investing in learning how to kick people's asses at Halo you could have a business going right now." He just kind of slunk down in the couch and admitted that I had a good point, but it seemed like a lot of work to get things going.

                                                                                      So to me it takes a certain type of personality just to decide to make the jump and start a business . Of those people that start and run their own business I think they have a make up of 15% intelligence and ideas, %15 know how and learning (knowing or learning about the business they are getting into), 30% courage to try and be willing to fail and 40% hard work and ambition to put in the time to make it work.
                                                                                      good description of the kind of experiences I have had and seen too. Well said.


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                                                                                      • $5 submissions
                                                                                        I help you SUCCEED
                                                                                        • Nov 2003
                                                                                        • 32195

                                                                                        #44
                                                                                        Originally posted by webmasterchecks
                                                                                        you don?t want any emotion in business decisions, I think that?s one of the hardest things
                                                                                        So true. Quoted for Truth!

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                                                                                        • M0nk
                                                                                          Confirmed User
                                                                                          • Feb 2007
                                                                                          • 3502

                                                                                          #45
                                                                                          I think its all those together, just put them in a jar and mix them with a wooden spoon for aprox 20 minutes and voila! :P
                                                                                          No! I don´t work for SPACash anymore so stop asking.

                                                                                          ICQ: 458651805

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                                                                                          • tranza
                                                                                            ICQ: 197-556-237
                                                                                            • Jun 2003
                                                                                            • 57559

                                                                                            #46
                                                                                            Why there are so many lucky people and so many idiots?
                                                                                            I'm just a newbie.

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