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$100k 2017

A detailed account of a Fastlane process...

sparechange

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alright, this will be a fun goal to achieve, i recently did my first ever entrepreneurial startup with $0 (got a shovel and made $57 in a few hours work clearing snow, its completely alien to me to make money from nothing..i was brainwashed to get jobs and be an employee...anyways i just wanted to make this thread for my dream of making $100k and tracking it every once in a while

i have a few business plans that i will be executing in the spring/summertime (maybe winter time to) and believe i can achieve this magic number...ive been broke all my life, ''rich'' to me was holding a few grand in my hand...will be really nice to hold $100k, ill prolly take a bath in it and go swimming, until then..im just at $55 net so far, guilty of spending $2 for a hot chocolate and peanut butter bar so theres $99.945 to go..there will be multiple streams of income so if i can get some to take off i can hire people to do the work for me whilst i work on other things/enjoy my life...

good luck to everyone on theyre journey to freedom...

[work hard & make people HAPPY] ''some guy in a red ferrari f430''
 
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Almantas

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alright, this will be a fun goal to achieve, i recently did my first ever entrepreneurial startup with $0 (got a shovel and made $57 in a few hours work clearing snow, its completely alien to me to make money from nothing..i was brainwashed to get jobs and be an employee...anyways i just wanted to make this thread for my dream of making $100k and tracking it every once in a while

i have a few business plans that i will be executing in the spring/summertime (maybe winter time to) and believe i can achieve this magic number...ive been broke all my life, ''rich'' to me was holding a few grand in my hand...will be really nice to hold $100k, ill prolly take a bath in it and go swimming, until then..im just at $55 net so far, guilty of spending $2 for a hot chocolate and peanut butter bar so theres $99.945 to go..there will be multiple streams of income so if i can get some to take off i can hire people to do the work for me whilst i work on other things/enjoy my life...

good luck to everyone on theyre journey to freedom...

[work hard & make people HAPPY] ''some guy in a red ferrari f430''
4304196.jpg
 

Waspy

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sparechange said:
i have a few business plans that i will be executing in the spring/summertime (maybe winter time to)

Execute today!

Run into 2017, don't make your start line halfway through the year.

Good luck!
 

jpanarra

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Good luck! What are you planning on tackling first?
 
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smarty

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if you've been broke all your life (like many of us here), do $1K first.
then $10K.
then $100K.

everybody dreams of making millions but if you've never walked that road, you won't know what to expect and it's easy to get overwhelmed and distracted.

and don't start next year, start today, this week.

good luck.
 

RHL

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Stop.

Stop.

Stop.

Here's the deal: With very rare exceptions, you need to have a system in place to make $100K from nothing. Making $100k/yr is easy with the right system in place. People writing books, running forums, selling on Amazon, and cleaning rugs on here all make that much. However, to make it from general hustling/odd jobs is very very hard and highly dependent on luck (buy some hustle item that makes 5-6x profit in very high quantity without saturating the market).

$100K is $400/day, 5 days a week, 50 weeks a year (allows for two days a week without earning money, and two weeks off per year. Maybe that's excessive, but people who say they'll be earning every single day are not being realistic either. You will not be hustling on Christmas day (nobody will be buying). You will not be free from illness/flu every single day of the year.)

I'd encourage you to get some sort of high-autonomy job (Check out @Fox and @SinisterLex ) and then try, on the side, to make $3,000. Why $3,000? Because I feel this is doable for most people in 1-2 months with little experience, and it represents a substantial windfall-about an extra month of income for most middle-class employees. It gives you a win, it's manageable just by hustling, and it lets you get your feet under you before you go for the gold.

Right now, you made $57 by shoveling snow. In financial terms, you're like the 450lbs guy who finally hit rock bottom over the weekend, committed to turning his life around, bought a set of trainers, and walked his first half mile this morning. That's great. But jumping from that to saying you're going to be 180lbs and 6% body fat by next January is simply unrealistic. Setting goals this big and this far apart is an action fake. It's a way for you to let your brain be boggled by the enormity of the task, sink easily into defeat, and then have an excuse for why you gave up.

Instead, set an attainable, measurable goal, for this Friday, and meet that. Take that $57, buy something on craigslist, and turn it into $100 somehow. Alternately, look for events that can create processes of saving in your life that will leave you with more money, that you can invest in a business (for example, switching from a $50/mo smartphone to a $30/mo Project Fi phone is an event, saving $20/mo or $240/yr is the process that effortlessly results). You can't win the game on defense. But the defense can set the offense up for an easy four quarters, if you do it right.
 

Fox

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RHL is on the money. Build a system.

I started a completely new skill less than a year ago. I made pennies the first few months but built a system.
Month one... $100
Month six... $4500
Month twelve... $30k+

With some work and following my plan I think I can break one million in sales per year in the next two years. And that isn't pie in the sky, its carefully written down and worked out. But it all started with something that is somewhat scalable, a plan and a system. Plus I am not special, I got 90% of the information on here and just put it to use. I already see people getting my results in a way faster time too so it is possible.

Go read the gold threads and follow your gut. Best of luck.
 
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RHL

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I started a completely new skill less than a year ago. I made pennies the first few months but built a system.

This is why "defense," slashing expenses, is so important starting out. Fox is in a competitive and difficult, but very "low-initial-capital" industry. If he bombed early on, he lost time, and time is money, but in most industries, the prospect of losing both (ex: 2 months and $20,000 down the tubes on a failure) is very, very real when you first start out. You need to weatherproof your financial situation for the storm of failure that you'll have to sail through to get to the clear skies on the other side (Just like I'm sure Fox had to have another job or a means of providing food and shelter for those first few months). So, do three things:

  1. Start to grow your little pile of cash in MANAGEABLE, bite-sized increments.
  2. Remorselessly slash all frivolous expenses. Add the money saved/earned from cutting/selling this stuff to your pile above, and repeat.
  3. Start to build a system that will take the uncertainty out of making a modest, but consistent amount of money each and every day.
That's it. The secret to making $100K is not to make it all in a week or a month, just like you don't become fluent in a language by cramming on the plane before you land in a foreign country. It's to make a couple of sales, and a few hundred dollars, every day. That's the start of the faslane. I look forward to hearing about that crisp $100 bill you earned on Friday.
 
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sparechange

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thanks for the input guys, ive been writing down alot of stuff recently and my reasoning for pursuing my startups in the summer is because it is seasonal, i want to build a small business in landscaping/residential property upkeep, do all the hustle myself > acquire customers > then hire people to do all the physical labour for me and branch out (build repeat customers)

[($20) x 5k clients = $100k]

i will definitely be flipping items aswell & in the first quarter of the year ill be ''launching'' my company that i believe can achieve 8-9 figures (this will take years to build), i dno maybe i am just delusional but i strongly believe my concept will revolutionize the industry and plays into the part of emotional selling, also it is for a good cause so regardless of $ i will pursue it especially since it is a concept i hold extremely close to my heart & my vision is clear

also about the events thing, im planning in January to launch one of my niches, (now is a bad time with holidays etc) & another in Halloween, i think clearing 5 figs with these visions will be achievable.

today was another good day of shoveling..i officially hit 3 figures for a whopping $112.75 !! lol, baby steps..atm i do hold a job to at least feed myself whilst pursuing freedom & enjoying life

as for earning $100 by friday im stumped to be quite honest unless im selling a service (my labour) or item..i wouldnt be sure where to start..have been spending time thinking of needs in the area and i actually had one comeup today...that ive thought about, ironically enough a client brought it up...couldnt pull through as it required me to drive so i missed out on a service i could of provided (i moved / license suspended whilst not caring about having a car) but the business idea was proved legitimate.

enjoyed the day, was invited into a clients home and they offered to make a sandwich for me and a hot chocolate...was constantly thanked for my work by multiple people and i feel i actually improved someones life temporarily by giving them access to they're vehicle.. im blabbering quite a bit, again thanks for the input. this forum will help me alot, also the book has already opened up my eyes yet im still not finished it

ah.... $99,887.25 to go!

cheers guys
 

Michael Burgess

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I totally agree with others about setting reasonable expectations; you're not likely going to jump to $100K any time soon, but don't let that stop you! Just remember that it may take a long time and a lot of fight to get where you want to go.

If you're going to continue pushing snow, I suggest you try to save your earnings to invest into some equipment. Even a handheld gas snowblower makes a WORLD of difference if you do many driveways or sidewalks. Machinery is a useful form of leverage that lets you do bigger jobs, work faster, save effort, and improve profitability. You can't afford not to get machines!

Good luck :)
 
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amp0193

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i want to build a small business in landscaping/residential property upkeep, do all the hustle myself > acquire customers > then hire people to do all the physical labour for me and branch out (build repeat customers)

This is a good idea, and is a system that you will need to build. As @Fox and @RHL are talking about above.

Acquiring customers is the name of the game in any business. Hiring physical labor is the easy part. You need to become an expert in acquiring customers. Come up with your marketing strategy and stick to it until you make it work. Don't try and learn multiple marketing channels at once, because you'll probably fail at them all if you do.

One of my first businesses was a snow-plow business that I sub-contracted out the work. I billed clients on a monthly basis, and I had a deal to pay the Subs weekly or monthly, as long as they cleared out the snow every time there was more than 2-inches on the ground. It was small, but very profitable, and I was able to run it from Texas.

Landscaping is high competition, look at other services as well. Power washing, carpet cleaning, etc. There are lots of options out there.
 

RHL

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as for earning $100 by friday im stumped to be quite honest unless im selling a service (my labour) or item..i wouldnt be sure where to start..

If you don't have a job, get one. Even minimum wage is better than zero. Also, your job functions like a fastlane gateway: You will spot B2B and B2C problems that customers of the business have or the business has, but only people who work in the trenches know about. You solve that pain, and you will get rich.

thanks for the input guys, ive been writing down alot of stuff recently and my reasoning for pursuing my startups in the summer is because it is seasonal, i want to build a small business in landscaping/residential property upkeep, do all the hustle myself > acquire customers > then hire people to do all the physical labour for me and branch out (build repeat customers)

Now is the time to hustle up some spare money, and then and buy your equipment for a substantial discount over what people are paying the rest of the year. In the summer, everyone else who waited to start until it was warm and comfortable out will be getting their crew and their gear together. You can buy old tractors and be fixing them up/prepping them now. The best time to buy an Aston Martin is when there's three feet of snow on the ground. The best time to buy gear to cut grass is when it's covered with ice. Call and secure clients. Offer discounted snow removal if they also sign up for summer mowing. The name of the game is locking in annual contracts, especially if part of the contract is prepaid (i.e., "X/mo, but you also pay Y if snow amount is over Z inches"). Research and see what you need to do and where you need to go to get a steal on gear and load up. Plow trucks are going to be at a premium right now, but one substantial snowfall could pay for one. Maybe you want a bobcat instead. That can do snow, and construction in the summer.

And stop talking about a business that will scale to eight or nine figures. Right now, you need to make eighty or ninety dollars. Keep your eyes on the ball, get off your a$$, and make it happen!
 

MidwestLandlord

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i want to build a small business in landscaping/residential property upkeep, do all the hustle myself > acquire customers > then hire people to do all the physical labour for me and branch out (build repeat customers)

Make sure your service SUCS. (it's in Mj's book)

I have 2 lists for plumbers, electricians, handyman services, snow removal etc. (I'm 100% brick and mortar, so lots of upkeep)

First list are the one's I use. Good service, timely, they answer the bloody phone when I call, and I can trust that the job will get done correctly even if I am not there.

Second list are the one's I will NEVER use EVER again.

Don't be on the second list.

Also, advertise your services to property management companies. Most of the time they have their own plows and such, but if they get behind they often call in the cavalry and hire local companies. A big need for property managers is backup they can trust.
 
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sparechange

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thanks for the input everyone =) its nice to have 3rd party feedback, will be finishing up the book shortly.... and also yes i do hold a job to feed myself and have learned alot from it.

we provide low quality service and have bad management yet still thrive due to the fact of unique visitors, really crazy stuff, im very happy i work there, its taught me a few INSIDERS tricks to the world of business...no matter how shitty of a service you provide you can still make $$ (this isnt my mindset btw) but imagine we took that concept and reversed it..and provided excellent service!

ill be knocking off the business in the spring time aswell (seasonal) & should be able to make myself real money....the higher ups (owners) clear low 5 figures month with the potential of 6..
 

sparechange

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looking at launching a niche, have been trying to find some warehouses to lease/rent and oh wow, anywhere from 5 - 6 figures...ill have to talk to some property owners and see if i can manage a profit share type situation...anyone have experience in this???
 

lowtek

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looking at launching a niche, have been trying to find some warehouses to lease/rent and oh wow, anywhere from 5 - 6 figures...ill have to talk to some property owners and see if i can manage a profit share type situation...anyone have experience in this???

why do you need a warehouse? You've got a living room don't you?

you're very quickly falling into the trap of "bullshit excuses".

You don't need a warehouse until you're pushing massive quantities of product.

Until then, you can live with the products.

They won't bite.
 
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sparechange

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its for an entertainment attraction, not selling products
 
G

Guest3722A

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looking at launching a niche, have been trying to find some warehouses to lease/rent and oh wow, anywhere from 5 - 6 figures...ill have to talk to some property owners and see if i can manage a profit share type situation...anyone have experience in this???
Profit share?
Nope
Never let a property owner have any control over you and only give them the bare minimums of what you're doing.

There's better ways to go about this. And when they ask what it is you want to do with the space, tell em nothing more than you have a few ideas in mind. In my experience, if they don't like that answer, then either the area has very little unused sq footage and they can pick and choose or they're trying to figure out a way to steal your idea, once you give it up to them.
 
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MidwestLandlord

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Do you actually need a dock? How much space do you need?

Check out industrial stripmalls. The type mom and pop mechanic shops operate out of. In my area, I can rent one for about $400 a month plus utilities. Has a large enough door to pull a boom truck in too.
 
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sparechange

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around 10k sq feet, dock doesnt matter or anything..just need a huge open space but the problem is these places are $10k+ in rent..unless i can just pull out the money myself from other ventures
 
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Guest3722A

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around 10k sq feet, dock doesnt matter or anything..just need a huge open space but the problem is these places are $10k+ in rent..unless i can just pull out the money myself from other ventures

Pay very close attention to what Biophase is about to tell you after you read this. It's ok to dream and to learn, but you need to understand that as the saying goes, it takes money to make money and everyone here with status either already had money to work with or built up to having the money.

Every. Single. One.


-------

Do you have a customer list/pre-orders?

What types of zoning will your use fit in?

What types of leases do these (ridiculously high priced) spaces offer? Gross? NNN?

Is there adequate parking?

How much will utilities be?

Who will be paying for utilities?

Is there enough power in the building for you use?

How's the roof/walls/doors/windows?

Is there anything that will put people's lives at risk?

How much insurance is required and is there a company that will write the policy?

What will the city allow you to do for your build out and what will they require licenced contractors for?

Can you afford contractors and all the hoops the city will hit you with?

How do other cities compare?

What do the neighboring businesses do?

Do you have enough money for city inspections and occupancy?

Are there enough restrooms in the facility for your use classification?

Will you make enough: to pay uncle scam? for ongoing issues? to pay yourself/put towards future growth?

Does the landlord have a criminal history?

Who were the previous tenants and what happened to them?

How much do you have saved up?

Are you capable of saving or will you always have a reason why you need to touch your savings?

Do you have enough to survive while you put this together?

Will the current market for your idea support this, or have times changed?



The first question is the most important one and I understand you currently have what equates to spare charge / beer money at this point. But, without an adequate customer supply and the right way to reach them continuously, this is all a wash.

Doing all of this footwork here now is ok with only beer pockets as it will serve to educate you with many of the basic moving parts. But chances are pretty good you'll need at least $40-50k saved unless you have the customer list of pre-orders. If you have this, negotiating with property owners is doable. And trust when I say that a property owner WILL steal your idea if it's doable and capable of being passive for him/her. It's happened to me.

This is only the tip of the iceburg for keeping legal.
 
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biophase

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So much of this thread is day dreaming. First come back to reality and try to make $1000.

5,000 landscaping clients at $20? Seriously? Can you get 15 new clients a day? Can you even handle the billing?

10,000sf warehouse? Entertainment niche?

Wtf?
 
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sparechange

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i will have about a year to execute the thing above, not sure if ill be able to pull it off..just depends how i look $ wise
im not rly reinventing the wheel here, im just a passionate customer that sees countless flaws & i know for a fact id do a better job than the current people in the industry,

as of next month (waiting for exams/Christmas to end) ill be starting another small niche, will have to do alot of hustling here and lots of work, ill need to build my brand up and sell it hard (university students) this will be my first fast lane event and is big end goal (i aim to be around the globe within a ___ years time with my name brand)

excited for that, am just struggling with setting pricing, my demographic is students so there is a mix of rich/poor..
my venue fee will be about $200 for rental so $20 tickets with 10 people showing up is breakeven, also there is traveling involved (off campus) so that may be a problem...the solution to this will be to pre-sell and offer a refund for no show.

gonna have to plan everything out and just go for it...stay tuned for a massive win or failure =)

on chapter 34 of the book btw
 
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Guest3722A

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I lost count with the number of times I heard either a tenant, employee or visitor say something along the line of, "What a great idea! I'm going to do this too."

And the number who followed through.... 0
 

sparechange

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great and bad news, i feel like my life is some sort of twisted movie plot, today i just hit a big milestone in my life, i feel as free as a bird, i turned 25 today and have a networth of $800. i just got fired from my job so i have basically nothing, i made $18 or $19k this year and have fk all but big dreams, going to go and enjoy my temp freedom whilst snowboarding..

sitting in the cafe of a self made millionaire and we had a chat..have an idea ill be executing after im done snowboarding |(free pass on birthday) ill take lots of pics for you guys,

financial indepence is the dream..i spent a year of my life making pocket change & get canned on my birthday/christmas (im not mad) its a blessing in digsuise...cheers, mb write up some more thoughts another time in regards to work
 
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sparechange

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ok so the past few days ive been doing nothing rly, (well went snowboarding) been waiting all year... was gonna take a trip to a nearby island but got on the bus and was it was to crammed so i freaked out and left...i was considering moving cities but am thinking of just staying for now, getting a couple of jobs..clocking 80 hours a week to just have a few grand then go from there....what do you guys think, id like to get a car to make my life a bit easier
 

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ok so the past few days ive been doing nothing rly, (well went snowboarding) been waiting all year... was gonna take a trip to a nearby island but got on the bus and was it was to crammed so i freaked out and left...i was considering moving cities but am thinking of just staying for now, getting a couple of jobs..clocking 80 hours a week to just have a few grand then go from there....what do you guys think, id like to get a car to make my life a bit easier

Just my 2 cents
It seems like you're moving 100 miles an hour! You just got fired from a job, man. Like another user mentioned before, you might want to have a part time first to ensure you're making some money, even if you're making money elsewhere. It definitely takes money to make money, and hopefully using credit cards / loans isn't an option for you.

I'm all for enjoying my freedom after getting canned. I've done that once or twice before. But the reality is still the same.
As of right now, you're a 25 year old college student with big plans. You're going to want something to financially fuel those plans!

People on here are just going to say don't get a car if you don't 100% need it (Because of public transport, bikes, ubers, etc.) but if you can afford to buy a beater in cash to hold you over, then I say go for it.

Also, how much of the advice you've gotten on here have you actually applied?
You've managed to get the attention of some heavy hitters. I wouldn't take that lightly!
 

sparechange

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ive taken note of what everyone has said, thanks everyone that has offered advice, im back in jail but actually i cant complain, i work at a ski resort dealing with people all day so i can practice my speaking skills aswell as snowboard the rest of the day (free passes for the winter) its been a really good weekend for me, its crazy how much $ my company makes a day in ski rentals etc..

january ill be starting up 2 plans, i will keep my financials open for the internet world for the year stating net worth & this will be a year long journey of searching for financial freedom, merry christmas to everyone!
 
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RHL

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ok so the past few days ive been doing nothing rly, (well went snowboarding) been waiting all year... was gonna take a trip to a nearby island but got on the bus and was it was to crammed so i freaked out and left...i was considering moving cities but am thinking of just staying for now, getting a couple of jobs..clocking 80 hours a week to just have a few grand then go from there....what do you guys think, id like to get a car to make my life a bit easier

You shouldn't have gone snowboarding. I know it's anathema here, but you really need to read Your Money or Your Life or Mr. Money Mustache's blog. While hardcore saving isn't a route to millions and a life of freedom, part of getting started effectively is that you need to go into ultra austerity mode right now. Zero dinners out. Zero movies. Zero snowboarding trips. Get a Republic or a Fi phone, cheapest handset they carry, get a bicycle. You can't out-exercise a bad diet (bad spending habits). Proper nutrition is key to getting yourself in shape. Until you start posting some profit, you need to bank everything. After working 80 hours a week, you won't have the clarity or the energy to launch a fastlane business very quickly. Better to work a more normal schedule and stretch every dime.

If you had started hustling when I first mentioned it, you'd have $200 extra dollars now. $200 can buy an entire day of freedom, that's what the average American worker earns in a day. Cut out everything that distracts you from your goal. Start fighting NOW, not when it's convenient. If you can work through the holidays, you can work through anything. I made multiple sales calls TODAY, on Christmas eve. I sold over $800 worth of product in the last two days to last-minute buyers. Did you make any calls today? Did you chase down any leads?

Your competition isn't taking the weekend off. You can't afford to, either.
 

wizz

New Contributor
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Oct 20, 2016
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Stoke on trent United Kingdom
Hi thank you for this interesting progress report. Im new on the forum and I joined because I have a goal thats sort of like yours i.e going from £ to £££££ in a short period of time.

I'm not an expect nor am I in the fastlane (i.e not in a way that people can see yet), but I would like to share a few thoughts with you and action steps I would take if I was you.

Your goal
Your goal is designed to push you to your limits,beyond your comfort zone and to demand the best out of you. Earning a sum total of $100,000 in year sounds like a good enough push. It is not an unrealistic amount, infact I've seen more than 3 replies to your thread that tell you that it has been done, it is being done, hence we know it can be done. So its fantastic news that you already have people on the forum who've done that. You can use the posts, threads, books and more from these people to replicate their results and also cut the learning curve. Yes, you must start from 0, but you do not need to walk from start to finish line. Take the bus and get there quicker.

You
They is one thing that you will need to work on for sure and that is your mind. Without the right mindset you can not archive much success. Changing the way you think will open up your life to seeing different opportunities you never knew existed, meeting people who can assist you to archive your goal and making you feel happier and more motivated towards attaining your goal etc.
"The only thing about man that makes him man is his mind, everything else can be found in a pig or horse".-Archibald Marcleish

Last Thoughts

While you are working at the snowboarding place, keep an eye out for things customers complain about, this could give you potential aspects of the service that could be improved. Once you have a identified a problem that is being faced by a reasonable number of your customers, find a solution to that problem and if possible sell the solution if not just give it away for free. From that point you can increase your "look for and solve people's problems" . They are a few benefits to doing this.

  • By focusing on finding solutions to problems you begin the process of beefing up your creativity skills
  • When you get a solution and sell it, you make money.
  • When you get a solution and give it away for free, You make a friend for life (networking).
  • It will help you stay in the provider frame instead of the consumer frame.
I hope this helps, ill be coming back occasionally to check on your progress and remind you that you have got greatness within you and you can do it.

Kind Regards
Wizz

P.S I will start my own progress report asap. You can follow it to keep track of the awesomeness I will be up to.
 

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