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How can an 18 year old wantrepreneur turn $1000 into a million dollars?

Anything related to matters of the mind

DomtheDominator

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I had a really long rant, deleted it, wrote another, deleted it, and this is the question that's left.

I read TMF around 3 months ago, and since then i turned off my xbox and i've read 10 other books. I know a lot about copywriting, advertisements, and persuasion now. I've also read books on self-developement and more confident, social, and motivated than ever before. I've been working out regularly (3 or 4 days a week) and am in the best shape i've ever been. But I don't really feel any closer to becoming a millionaire.

I'm going into second year university in September, and worked part time over the summer. I'll have around $3500 going into school. This is all the money in my bank account.

I want to use a maximum of $1000 of that to start working on project that will become a fastlane process. I just feel kind of lost and don't know if all this learning i'm doing is a waste of time. Ok i know it's not a waste of time, but i want to stop learning and start becoming an entrepenuer.

Right now i'm a couple of days into learning web-design - specifically HTML and CSS. Is this smart? I figured copywriting would be better maximized if I could create my own websites. The past month or so was dedicated to studying and writing copy. I think i'm pretty good at that now.

But what the f**k should i do next?? School is about to start and i'll have no choice but to dedicate hours to studying bs i will forget after the exam anyways. I'd always wanted to become a lawyer (that's my plan B now),but that's 7 years of school! Whatever it is i decide to focus on will be in conjunction with school.

Copywriting and web-design is all i have in mind so far. I do not know where they will take me. My dream is to drive a lamborghini before i'm 30 years old.

What would you do if you were in my position - with $1000 just sitting in your bank account - and a whole world of opportunities at your disposal?
 
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Sunscreen

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Right now i'm a couple of days into learning web-design - specifically HTML and CSS. Is this smart? I figured copywriting would be better maximized if I could create my own websites.
https://www.thefastlaneforum.com/community/threads/learning-to-program-is-stupid-or-smart.41319/
What would you do if you were in my position - with $1000 just sitting in your bank account - and a whole world of opportunities at your disposal?
https://www.thefastlaneforum.com/community/pages/do-i-go-to-college-dropout/
https://www.thefastlaneforum.com/co...-cant-make-your-life-decisions-for-you.33485/

Really depends on your situation. I'm in a similar situation and have decided to learn copywriting/continue with intention of freelancing/starting a business rather than go to college. I think many people here like MJ or SteveO can give you good advice but at the end of the day it's your call.

IMO if you have a dream and if it's reasonable, chase it. F*ck societal expectation. Just be decisive and work hard.
 
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DomtheDominator

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Please don't come on here asking us how to turn $1,000 into a million. By the way, "wantrepreneurs" don't make anything. Either become an entrepreneur, or join the rat race.

I'm not asking how to turn the $1000 literally into a million dollars. I would appreciate some ideas on where to get started though. I've told you my current situation. I'm just not sure where to go from here. The folks around here are the guys who've done it. That is why i'm asking for advice on how i should use my money. The figure could be $500 or $5000 and i still would be in the same boat of "where should i go next" as i am now.

Thanks for the reply.
 
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DomtheDominator

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https://www.thefastlaneforum.com/community/threads/learning-to-program-is-stupid-or-smart.41319/

https://www.thefastlaneforum.com/community/pages/do-i-go-to-college-dropout/
https://www.thefastlaneforum.com/co...-cant-make-your-life-decisions-for-you.33485/

Really depends on your situation. I'm in a similar situation and have decided to learn copywriting/continue with intention of freelancing/starting a business rather than go to college. I think many people here like MJ or SteveO can give you good advice but at the end of the day it's your call.

IMO if you have a dream and if it's reasonable, chase it. F*ck societal expectation. Just be decisive and work hard.

Haha glad to know i'm not the only one. Just feels like a lot of learning going on right now. This is all new to me. Hope we heading in the right direction!
 
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Equilibrium

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I'll have around $3500 going into school. This is all the money in my bank account.
buddy, this is a big mistake. dont work with ''all the money'' in your bank account or you will never get ANYWHERE.
Here's a example using a statement.
AmUOPQ9.png


you can say I made $692.. but that's not right

I made only $609.88
Now I can take that money and buy gas, tighten down the belt and eat cardboard boxes.. but that money is going to try to slip away.
its when you take a part, put it away in a locked box, every paycheck, every time.. and make that money work for you
that you will start to get anywhere.

I would check out YNAB if you have the discipline its a valuable tool. $60 or 30 with a friends discount.
don't focus on your intrinsic value to save the day. take that bit and focus on what you WANT to do..that you are good at.

Right now i'm a couple of days into learning web-design - specifically HTML and CSS.
great. now how are you finding people who need html and css frameworks?

''I'd always wanted to become a lawyer'' well WHATS STOPPING YOU!>?

no one here is going to have the answer. But you just gave me two perfectly good options for decent income jobs.
get to work :D
 

Coalission

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You have it backwards. There's nothing wrong with learning the stuff you're learning, but you don't have an end goal in mind, so in essence you're learning how to lay bricks with no idea what you're building.

Figure out how you want to make money, what value you want to give, what service you want to provide, what product you want to sell, how you'll acquire customers profitably, and then either hire a brick layer to create your vision, or learn just enough to build it yourself once you know what you're building.
 

DomtheDominator

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Awesome I must be an idiot. I may as well shut this thread down.

Cool things i've learned from you:
1) I'm good at saving money..but eventually all that money is going to be spent (which i did last summer) because i'm not locking it away...so i'm not very good at saving in the longterm
2) I'm over-valuing intrinsic value. Which is something that was intentional in my initial stages as I was the type of kid who spent the last 5 years watching anime and leveling up on skyrim. Felt like I had nothing to offer the world after reading TMF . But in doing that...
3) I forgot the number one rule (Shoot me in the head). Find a need and fill it. Learning all this crap and it's beginning to feel redundant because I haven't even done the market research. I do not even know if this HTML and CSS stuff will be of value to anyone. I'm learning copy and I don't know what to do with it because I haven't started looking at businesses/companies in my area who will need it.

This is exactly what i needed. So simple and obvious yet i was getting lost in my own head. Figured i would clear my head here though. Thanks all!
 
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DomtheDominator

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You have it backwards. There's nothing wrong with learning the stuff you're learning, but you don't have an end goal in mind, so in essence you're learning how to lay bricks with no idea what you're building.

Figure out how you want to make money, what value you want to give, what service you want to provide, what product you want to sell, how you'll acquire customers profitably, and then either hire a brick layer to create your vision, or learn just enough to build it yourself once you know what you're building.

Ahhh you nailed it! The anxiety i am feeling, despite all my progress, is because i am lost. My end-game is too broad. My plan is non-existent. I'm just laying these bricks hoping they will turn into a mansion.

I think i'm going to take a couple of days off and just evaluate myself, reflect on what i've down, and most importantly start creating a blueprint of where i want to place my bricks and what i want to build.

Thanks!
 

DomtheDominator

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Provide value to someone.

That is why i began reading all these books and trying to learn as much as i can. To create some value in myself that i can offer to others or use to create tangible value. Figured copy and web-design would be of value to someone.

My next step is clear..who is in need of these? How will i find them? What will i do to penetrate the market? etc.
 
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BlakeIC

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The reason you don't feel any closer is because you haven't actually done anything besides reading books

You can only read so much and still be in the same spot, utilize the knowledge you have gained so far and start something


edit: Copywriting
 

DomtheDominator

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The reason you don't feel any closer is because you haven't actually done anything besides reading books

You can only read so much and still be in the same spot, utilize the knowledge you have gained so far and start something

You are right. I think i am beginning to realize this..hence my anxiety. I think i know where i want to go from here now though...thanks!
 

Equilibrium

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Dom if you're serious about coding look for people who are starting websites, and need things created. You'll find everything being paid to set up contact us pages, to designing rules for rpg games. I would check out a forum called theadminzone.com and keep a eye on the new posters. Tell them wasp sent you. Also,there's elance and odesk. I'm out of information concerning law through, the only contact I have is a struggling site called rsvplaw.com who probably needs help..their site is nothing but a contact form with the idea of legal advice on demand. However, take these leads and find yours.
 

jason91

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I am bored this will be a big unload of my brain, I hope it helps.

Fundamentals to start business
Step 1: Find what people or businesses need
Step 2: See how many producers (other businesses, etc.) supplying need with services or products
Step 3: See how people feel (reviews / rants) about the current producers of services or products
Step 4: See how you can create (what skill-sets or unique propositions do you or partners have?) better services or products
Step 5: Create a platform (website, chain of stores, etc.) to deliver (must be scalable, or you'll need multiple businesses)
Step 6: Create a marketing plan to reach people
Step 7: Create funnel / sales system and continually adjust based on results
Step 8: Continually adjust and grow - business never thrives when stagnant
Step 9: Thank thefastlaneforum.com and share the knowledge to others

^ Those are the core fundamentals for me, but obviously there's a lot more to it - make sure you don't get sued, get penalized for some bad business practices, and etc.. Each step can be found in other threads - read read read!

Skillsets you need to be a filty rich entrepreneur: (MANDATORY - Don't know any rich person without communication / sales skills.)

1. Effective Communication
2. Sales Skills and Ability to Persuade
3. Accurate Sense of Strengths and Weaknesses

Pluses:
1. Fast at math calculations and logical deduction
2. Know how to brand yourself and company
3. Too many to list

Closing note:
Money is in the pocket of people.

People use their dollars on things they need and want.

You are simply the producer of a thing the person needs, or desires.

That is the only way they give you money.

You give them what they're looking for.

Don't over examine, and don't over analyze.

Look at what THEY need, not what YOU want.


EXTRA boredom rant:

You can be poor, you can be rich - the market does not give a flying rats crack about your income.

Unless it is visible. When you dress rich, people think you are rich. When you dress poor, people think you are poor.

People want to be rich themselves so which type of clothing do you think they would rather talk to?

Remember - it's about the market - not you. What I just wrote signify's much more than clothing.

It goes into branding. Appearances and first impressions make a huge impact.

If you don't like dressing luxuriously while selling your $390,000 line of watches it is perfectly fine.

Just don't expect the sale if people associate you with the opposite of what you're selling.

I personally love the branding aspect of business - the feeling you get looking at a Lamborghini when it's simply a piece of metal made in a specific shape, with a specific material and design. Many parts go into the conditioning of us humans to think of a Lamborghini as a mark of great accomplishment. They have done a great job. It's also a great car.

Go out there and test the waters - see what works for you. Find out your own strengths and weaknesses
 

ZCP

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Start with one of the hustle threads. Use your $1k as initial funds. Do. Learn. Get a part time sales job with a training program. Study and get good grades. Form a couple of study groups to network and help focus your study time. Check your progress monthly. Go on dates. Meet new friends.
 

DomtheDominator

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I am bored this will be a big unload of my brain, I hope it helps.

Fundamentals to start business
Step 1: Find what people or businesses need
Step 2: See how many producers (other businesses, etc.) supplying need with services or products
Step 3: See how people feel (reviews / rants) about the current producers of services or products
Step 4: See how you can create (what skill-sets or unique propositions do you or partners have?) better services or products
Step 5: Create a platform (website, chain of stores, etc.) to deliver (must be scalable, or you'll need multiple businesses)
Step 6: Create a marketing plan to reach people
Step 7: Create funnel / sales system and continually adjust based on results
Step 8: Continually adjust and grow - business never thrives when stagnant
Step 9: Thank thefastlaneforum.com and share the knowledge to others

^ Those are the core fundamentals for me, but obviously there's a lot more to it - make sure you don't get sued, get penalized for some bad business practices, and etc.. Each step can be found in other threads - read read read!

Skillsets you need to be a filty rich entrepreneur: (MANDATORY - Don't know any rich person without communication / sales skills.)

1. Effective Communication
2. Sales Skills and Ability to Persuade
3. Accurate Sense of Strengths and Weaknesses

Pluses:
1. Fast at math calculations and logical deduction
2. Know how to brand yourself and company
3. Too many to list

Closing note:
Money is in the pocket of people.

People use their dollars on things they need and want.

You are simply the producer of a thing the person needs, or desires.

That is the only way they give you money.

You give them what they're looking for.

Don't over examine, and don't over analyze.

Look at what THEY need, not what YOU want.


EXTRA boredom rant:

You can be poor, you can be rich - the market does not give a flying rats crack about your income.

Unless it is visible. When you dress rich, people think you are rich. When you dress poor, people think you are poor.

People want to be rich themselves so which type of clothing do you think they would rather talk to?

Remember - it's about the market - not you. What I just wrote signify's much more than clothing.

It goes into branding. Appearances and first impressions make a huge impact.

If you don't like dressing luxuriously while selling your $390,000 line of watches it is perfectly fine.

Just don't expect the sale if people associate you with the opposite of what you're selling.

I personally love the branding aspect of business - the feeling you get looking at a Lamborghini when it's simply a piece of metal made in a specific shape, with a specific material and design. Many parts go into the conditioning of us humans to think of a Lamborghini as a mark of great accomplishment. They have done a great job. It's also a great car.

Go out there and test the waters - see what works for you. Find out your own strengths and weaknesses

Appreciate the effort you took to create this outline. This is going straight to my word documents and should be a kickstarter whenever i start to feel lost in the entrepreneurial process. Thanks!
 

DomtheDominator

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I woke up today with my first ever business idea! My next steps will to be formulate my business plan while i keep learning and learning. You sly witty folks of thefastlaneforum.com have steered me in the right direction almost too easily.

I will probably be back - in fact - i hope i will be back with another rant once i get started on what i have in mind. For now i'll just lurk around the forums soaking up knowledge.

Thank you all again.
 
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James Thornton

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Great post @jason91

Sure wish I got this type of advice at 18! What a head start some young people are getting here. Great to see.
 

MJ DeMarco

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How can an 18 year old wantrepreneur turn $1000 into a million dollars?

Instead of trying to turn $1,000 into $1M, try turning $1,000 into $1,100. Come back and tell us what you learned, how you did it, and the underlying processes that made it happened. Do that and you will have your answers. You can't climb mountains until you first learn how to walk stairs.
 

Vidar

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I had a really long rant, deleted it, wrote another, deleted it, and this is the question that's left.

I read TMF around 3 months ago, and since then i turned off my xbox and i've read 10 other books. I know a lot about copywriting, advertisements, and persuasion now. I've also read books on self-developement and more confident, social, and motivated than ever before. I've been working out regularly (3 or 4 days a week) and am in the best shape i've ever been. But I don't really feel any closer to becoming a millionaire.

I'm going into second year university in September, and worked part time over the summer. I'll have around $3500 going into school. This is all the money in my bank account.

I want to use a maximum of $1000 of that to start working on project that will become a fastlane process. I just feel kind of lost and don't know if all this learning i'm doing is a waste of time. Ok i know it's not a waste of time, but i want to stop learning and start becoming an entrepenuer.

Right now i'm a couple of days into learning web-design - specifically HTML and CSS. Is this smart? I figured copywriting would be better maximized if I could create my own websites. The past month or so was dedicated to studying and writing copy. I think i'm pretty good at that now.

But what the f**k should i do next?? School is about to start and i'll have no choice but to dedicate hours to studying bs i will forget after the exam anyways. I'd always wanted to become a lawyer (that's my plan B now),but that's 7 years of school! Whatever it is i decide to focus on will be in conjunction with school.

Copywriting and web-design is all i have in mind so far. I do not know where they will take me. My dream is to drive a lamborghini before i'm 30 years old.

What would you do if you were in my position - with $1000 just sitting in your bank account - and a whole world of opportunities at your disposal?
Hey Dom, I can relate to how overwhelming all this can be. I have no business experience, other than working for them, and when I first got onto the forum I was suddenly inundated with all of the knowledge and skills that the amazing people on here are so willing to share.

I just had no idea what they were talking about :confused: PPC, USP, copy writing, investments, etc...

I'm a simple kind of gal with an Art and Illustration background (went into a ton of debt for that one, let me tell ya :headbanger:). So essentially nothing that might apply to business, other than knowing how to use PS and Illustrator to create images for a website, and it was like I was drowning in all the knowledge that's provided here. It's just a totally different knowledge base than what I've known.

My advice to you is to read a LOT of the threads on here, especially anything written by the heavy hitters (you know who they are). You'll start noticing a pattern concerning who does what and why; those are the topics I take note of and research. So instead of using the shotgun method of figuring this all out (reading a little bit about EVERYTHING) I've targeted a few things that I feel apply to my entrepreneurial process and research the crap out of them. :bookworm:

The internet is an amazing thing! Everything you'd ever want to know is just a Google search away! I remember in the "olden days" when I had to go to the Library and dig through the Encyclopedia Britannica to find things out... and usually someone else was using the volume I wanted :shifty: GAH! So annoying.

The internet has removed a HUGE roadblock to your success, just put in the time and effort, be selective in the topics you want to research, and don't get stuck just reading. You've gotta get out there and DO!

There are some amazingly generous people here on the forum, and while they won't give you a step-by-step instruction guide (which they shouldn't) they've left some awesome breadcrumbs for the new kids to follow IF you're keeping your eye out for them.
 
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pfar54

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That is why i began reading all these books and trying to learn as much as i can. To create some value in myself that i can offer to others or use to create tangible value. Figured copy and web-design would be of value to someone.

My next step is clear..who is in need of these? How will i find them? What will i do to penetrate the market? etc.

Website design can definitely be of value to someone, but it takes a decent amount of time to learn the valuable parts of it. Learning HTML and CSS are great, but you won't be able to go anywhere with that. You need to know HTML, CSS, and Javascript to do any sort of basic website design. The money comes in on the server side (PHP, C#, Java, etc) and how effect/efficient you can make it.

Partially through TMF , I started learning coding and I am definitely glad I did. I have not put what I have learned yet into business practice and marketed any of it, but if you have the right idea and there is a need, you will be up all night every night coding away and watching it come to life.

I wish you luck.
 

biophase

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I want to use a maximum of $1000 of that to start working on project that will become a fastlane process. I just feel kind of lost and don't know if all this learning i'm doing is a waste of time. Ok i know it's not a waste of time, but i want to stop learning and start becoming an entrepenuer.

What would you do if you were in my position - with $1000 just sitting in your bank account - and a whole world of opportunities at your disposal?

This is an easy one. Start a business on Amazon. $1000 is plenty to get your samples and a first batch run going.
 
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G

GuestUser140

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1) I'm good at saving money..but eventually all that money is going to be spent (which i did last summer) because i'm not locking it away...so i'm not very good at saving in the longterm
If you got the discipline to go to the gym and get fit, you can save money too. Either that or you don't want it badly enough. Remember cash = dry powder = possibilities. Don't throw it away.

Right now i'm a couple of days into learning web-design - specifically HTML and CSS. Is this smart? I figured copywriting would be better maximized if I could create my own websites
It's obvious you haven't figured it all out yet, but the good thing is you're searching, trying out stuff.

It's not so much about intrinsic value: otherwise every college business professor would be running a fastlane business.

You have to fill a need. Learn as you go.

My next steps will to be formulate my business plan
If you have $1000 and want to provide value, what plan are you talking about? Like a one line scribble on the back of an old notepad?

Start with one of the hustle threads. Use your $1k as initial funds. Do. Learn.
Who am I to disagree :innocent: :halo:

Also, don't shy away from college or a job as long as you're not bringing in good cash. Remember this can happen faster than you think.
 

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