The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

The Entrepreneur's Forum for learning how to build wealth and financial freedom the Fastlane way!

Say "NO" to mediocre living rife with jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence. Join our forum with more than 70,000 entrepreneurs who are making it happen.
Join for FREE Today
Get the books
Remove ads? Join Fastlane INSIDERS
(Registration removes this block)

1. Keeping Myself Accountable

Anything related to matters of the mind

Spenny

Bronze Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
Nov 16, 2022
146
255
United Kingdom
So I'm going to say this immediately, I'm scared at the thought of making this post. I'm finding ways to not hit that black "post thread" button. I've just made my 10/5/1 plan and I need to start taking it seriously.

The things I want to have in 10 years: £10,000,000 in net worth, regularly speak in front of hundreds of people & have multiple businesses that I manage or have already sold, have outstanding physical health (no beer belly & strong) & have a great spouse. I can't believe I'm actually writing that but I genuinely mean it.

My Plan
I journal & try to keep myself accountable, but its no where near as potent as publishing it on a public forum to people that I feel I'm apart of. I've never been apart of a community that I really get behind & this is the first community I feel normal in. Thank you all for that.

I'm going to post weekly, every Sunday (+/- a day) about the things I've actually done to actually get towards these goals.


A bit about me.
I'm 21, I study chemistry as an undergraduate, I run a business, I manage my life savings through picking stocks & I'm a President and Lead Investor for two university societies.

I do chemistry because I've been diligent at it (until I found entrepreneurship), run a business (entrepreneurship, duh!), I pick stocks because I love thinking about the businesses behind them/ making money work. Finally, I'm a committee lead because it gets me speaking/teaching in front of crowds (I have a real love for this and I dont find myself getting to nervous infront of crowds - the opposite, I feel alive).

Progress so far
About this time last year, I made a mental & physical effort to become an entrepreneur. I began exposing myself to business through entrepreneurial ventures & value investing.

I began a business with three others, it's aimed at university society committees that cannot be bothered to research merch. This business has made £800 in revenue from two clients. I'm pleased about this, but its no where near the figures I want it to be. I also have a new product idea I'm trialing - I've moved forward now & began to learn CAD so I can get a prototype out I can use.

As for the investing, I earned a pile of cash from working a wage job, saving about 50%. Had no idea what to do with it so I began learning how to buy businesses on the public markets. This has surprisingly really helped my entrepreneurial side, since I have to think of the business I'm putting money into. It applies well for capital allocation & thinking about ROI - even with time.

I think for this past year what's been most valuable is that my mind has never before been this geared towards business. I listen to other peoples businesses/ideas and my mind already thinking about the next stages for their business or idea. I've gotten a lot better at tuning my problem radar - I perk up as soon as I hear someone complaining about something - and I've started businesses from it. To add to that, people in my life come to me for business advice & they listen to me when I speak.

What next?
- Finish up designs for CAD & find someone I can get the prototype made (want to make the product so I can use it as a demonstation it works)
- Research bulk buying t-shirts & print vinyl for a new revenue stream
- Create flow diagram for the merchandise ordering system so my co-founder can code it.
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.
Last edited:

heavy_industry

Gold Contributor
Speedway Pass
Apr 17, 2022
688
1,884
So I'm going to say this immediately, I'm scared at the thought of making this post. I'm finding ways to not hit that black "post thread" button.
You've hit that "post thread" button ho hard, the forum page layout broke. :rofl:
(al least for me)


Sounds awesome, and I think you're off to a great start! Good luck and keep us updated on your progress!
 

Black_Dragon43

Platinum Contributor
Read Fastlane!
Speedway Pass
Apr 28, 2017
1,376
3,813
‍☠️ Eastern Europe (or UK)
You've hit that "post thread" button ho hard, the forum page layout broke. :rofl:
(al least for me)


Sounds awesome, and I think you're off to a great start! Good luck and keep us updated on your progress!
@MJ DeMarco can tell us more, but I think for certain post types that’s meant to happen!
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 23, 2007
35,649
142,272
Utah

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Must Read Books...

must read books
Download FREE and share!
Download
Explore books recommended by MJ DeMarco and other members of the Fastlane entrepreneurial community.
Fastlane Bookstore

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top