18 years old, documenting my process.

[Delylah]

MY FINANCIAL REALITY
CONS:
I'm unemployed right now, which means $0 income
I have 3 total bills; Car incident $986, ticket $83, late book fee at local library $2
I have $1 in my savings account

PROS:
I can use my time effectively due to little commitments
I can use these bills to improve money management skills
Apart from the bills mentioned above, I'm major debt free


MY PLANS
In short, a 7 year plan. The first 2 years outlined below:

1. Establish income
2. Pay off bills
3. Save
4. Budget
5. Learn

The rest of my plan will occur on its own

I'll keep posting as things progress.

Thanks for reading

 

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[Delylah]

UPDATE

The meeting today went really well. I'm in the process of becoming an independent contractor with a nice weekly income of $2k, I additionally received a set pool of clients, and a company vehicle as well as equipment. I must say things are looking fantastic.

Just to think, 3 months ago I was telling myself I'd never get employed, and I've just been offered an opportunity that puts me in a position much greater than I had expected.

 

[eekern]

...

I do now know what you did to put yourself in front of that opportunity, but I am sure you earned it. Great work !

 

[Delylah]

...

I do now know what you did to put yourself in front of that opportunity, but I am sure you earned it. Great work !

>Opportunity was initially for my father
>Asked to attend meeting for observation
>Father is unable to commit to work
>I chime in
>Have skills and requirements
>Have basic knowledge necessary
>Confirm additional meeting as follow up
>Update post

I will admit I have an advantage of both my parents being entrepreneurs (have made AND LOST millions, due to bad business partners; but that's a whole other story) so, they will help me if I ask for it.

 

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[Delylah]

UPDATE

I stated above that I was in the process of becoming an independent contractor, which is false, I'm actually subcontracting (my mistake) and, just wanted to post some bits and pieces.

The company I'm subcontracting from has been established for over 20 years. The owner goes half on all the profits with me, as he charges for advertising.

The vehicle & equipment are both being separately funded, and I'm making repayments over 12 months, after which I have the option to buy, return, or refinance.

OUT OF POCKET COSTS:
$500 - Public liability insurance, covered for 10 mil, for 12 months.
$400 - Covers costs for the vehicle & equipment for the 1 week of training that's unpaid
$300 - Work uniform
$125 - Required fee

(Note: obviously because I am broke, my parents paid for the above and said I can pay them back with house work, classic)

I think this thread is more for something I can reflect on in future, but if it helps anyone that's enough for me.

 

[BlakeIC]

You have a job now, so whats next?

 

[Delylah]

I was about to post an update in regards to my next steps but things have taken a turn. I've had a fallout with my father and he no longer wants to support me in any type of way. Due to that fallout, I've lost the financial support that secured my job so I've had to put that on hold.

My first thought was "what can I do to get money to be able to follow through with my original plans", I don't have anything to sell as I've always kept my belongings at a minimum. I have a laptop and a phone but I would like to keep those to be able to keep up with researching/browsing the web.

Also kind of beating myself up over the fact that I was dependent on my father, I wouldn't have been so disappointed if I had of just sorted it out on my own, lesson learnt.


NEW PLAN:
- Improve resume
- Apply wherever possible
- Keep learning


I'll admit I lost a bit of hope but then I remembered it's only temporary. Sure this will take a bit longer, but hey I have time. In all honesty, these threads give me more support than anything, thus I will persevere!

 

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[AgainstAllOdds]

I was about to post an update in regards to my next steps but things have taken a turn. I've had a fallout with my father and he no longer wants to support me in any type of way. Due to that fallout, I've lost the financial support that secured my job so I've had to put that on hold.

So in a week you went from a 6-figure job to broke?

Is there any way you can make up with your father?

 

[Tehcasa]

welcome aboard.. good to see some young aussies join the forum

 

[Delylah]

So in a week you went from a 6-figure job to broke?

Is there any way you can make up with your father?

Shocking isn't it?

I patched things up with my father by showing him that I was able to make it work, maybe his decision was a tough love type of thing? I don't know.

I spoke to a broker that works with the funding companies & made arrangements with getting some cash back for the bond payment that was laid down for the equipment & the vehicle. I pick up $812 cash tomorrow along with the vehicle & equipment.


I'll post an update regarding "what's next" ASAP!

 

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[Delylah]

welcome aboard.. good to see some young aussies join the forum

Thanks man haha, good to see other Aussies on the forum

 

[mowealth]

That really did escalate quickly! But looking forward to hearing about your progress.

By the way, not an Aussie, but girlfriend is, Aussie Aussie Aussie?!

 

[Delylah]

That really did escalate quickly! But looking forward to hearing about your progress.

By the way, not an Aussie, but girlfriend is, Aussie Aussie Aussie?!

Oi Oi Oi!!! sorry for such a late reply, been taking a lot of ACTION

 

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[Delylah]

UPDATE

It's been a rough few weeks, but the guy I was supposed to "work with" tried to take advantage of me and I'm sick of bumping into all the wrong people.

So, I made the decision of trying this venture out from scratch, I don't intend on becoming the next big cleaning company, but I have to some how pay back the equipment and the vehicle for the next 12 months, so I may as well use them to my advantage.

I've made a business card, with my name, number and an email address for carpet cleaning enquiries. I have my equipment and my vehicle, so now my main focus is market.

I'm aware that I also have A LOT of self educating to do, luckily I like reading.

But more importantly, I approached my neighbour who happens to have a successful massage parlour in a nearby shopping centre who is willing to have me clean his floors, and also wanted to give information out to his friends (who also have businesses) but I hadn't done the business card during that time unfortunately, however this is a start!

I intend on approaching a few other people I know that have business, then going to break down it by advertising, and hell I'll even door knock if I have to.

 

[Delylah]

Also been glued to the thread about carpet cleaning by @IceCreamKid, thank yoooooooouuuu for posting it!

 

[Ubermensch]

UPDATE
I'm aware that I also have A LOT of self educating to do, luckily I like reading.

Interesting. Self-educating on what particular subjects?

But more importantly, I approached my neighbour who happens to have a successful massage parlour in a nearby shopping centre who is willing to have me clean his floors, and also wanted to give information out to his friends (who also have businesses) but I hadn't done the business card during that time unfortunately, however this is a start!

Sounds like the first lead. Close it.

Set an aggressive date for the first service date. Tomorrow. The next day. The soonest you can do it, offer that time.

The job is not finished until you are delivering your service, and getting paid for said service.

I intend on approaching a few other people I know that have business, then going to break down it by advertising, and hell I'll even door knock if I have to.

What does "break down it by advertising" mean? You're planning on cold-calling for new customers?

 

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[Jay Dial]

UPDATE
So, I made the decision of trying this venture out from scratch, I don't intend on becoming the next big cleaning company, but I have to some how pay back the equipment and the vehicle for the next 12 months, so I may as well use them to my advantage.

Mindset change: "I dont intend on making this big" to "I'm going to provide a helping service to as many as I can for the time being at a minimum". Second tip. Market Market Market. While I'm just starting out taking ventures to the fastlane, I will tell you the only hard learned lesson I have in my limited experience so far is just expecting traffic to happen because you have a service pertaining to the said traffic was my fail. Talking to others is great, cold calls are okay, but focus on how you can market yourself to a large audience in need of your service. I failed to do this with my previous two start ups. Hence the fact that I didn't call them businesses but start-ups. Never made it off the ground. Quite the post to follow, look forward to your updates! Cheers.

 

[Delylah]

Interesting. Self-educating on what particular subjects?



Sounds like the first lead. Close it.

Set an aggressive date for the first service date. Tomorrow. The next day. The soonest you can do it, offer that time.

The job is not finished until you are delivering your service, and getting paid for said service.



What does "break down it by advertising" mean? You're planning on cold-calling for new customers?

Yeah, thought about cold-calling for customers, pretty much anything I can do to obtain customers, search high and low, stuff like that.

I thought about recruiting, people like myself who need work and more importantly are as hungry. Someone suggested I should approach places like centrelink (welfare) for unemployed people and provide training and work, but that's just a thought I guess.

I'll be posting more as things progress, thanks for your words!

 

[Delylah]

Mindset change: "I dont intend on making this big" to "I'm going to provide a helping service to as many as I can for the time being at a minimum". Second tip. Market Market Market. While I'm just starting out taking ventures to the fastlane, I will tell you the only hard learned lesson I have in my limited experience so far is just expecting traffic to happen because you have a service pertaining to the said traffic was my fail. Talking to others is great, cold calls are okay, but focus on how you can market yourself to a large audience in need of your service. I failed to do this with my previous two start ups. Hence the fact that I didn't call them businesses but start-ups. Never made it off the ground. Quite the post to follow, look forward to your updates! Cheers.

Thank you for the tips, I appreciate it a lot! I can't wait to update with more progress

 

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[Shaheelm]

Damn. Im 19 and im from Melbourne too and i didnt think there would be that many people with a similar mindset and goal. I have to do some catching up

 

[Delylah]

Damn. Im 19 and im from Melbourne too and i didnt think there would be that many people with a similar mindset and goal. I have to do some catching up

I find that not many people my age (where I live/that I've come across) are interested in such things, majority of them just want to party & live paycheck to paycheck. Anyway, nice to see other Melbourne folk around though