• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Trading Life for a Weekend?
    Build a Business, Build a Life.
    Unleash the Dream.

    Become an UNSCRIPTED™Entrepreneur.

    UNSCRIPTED™ Entrepreneurship is an entrepreneurial business strategy that unleashes dreams, frees time, and explodes your incomes—but more importantly, it changes your life forever. Make no mistake; this isn’t something you “try”— this is something you live.

    FREE Download (Unscripted) FREE Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

Progress Thread $100k 2017

Discussion in 'Progress/Execution Threads' started by sparechange, Dec 12, 2016.

FORUM SEARCH


Need answers about entrepreneurship? Search FIRST! More than likely your entrepreneurial topic has already been discussed.
Powered by Google Site Search.
  1. sparechange
    Online

    sparechange Bronze Contributor Speedway Pass

    Messages:
    340
    Likes Received:
    248
    Joined:
    Nov 11, 2016
    Gender:
    Male
    Location:
    Vancouver
    Rep Bank:
    $841
    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''
     
  2. Almantas
    Offline

    Almantas Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    566
    Likes Received:
    1,360
    Joined:
    Dec 21, 2015
    Gender:
    Male
    Location:
    Ireland
    Rep Bank:
    $8,310
    [​IMG]
     
  3. Waspy
    Online

    Waspy Float like a butterfly Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    447
    Likes Received:
    1,806
    Joined:
    Dec 6, 2016
    Gender:
    Male
    Location:
    U.K.
    Rep Bank:
    $6,687
    Execute today!

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

    Good luck!
     
  4. jpanarra
    Offline

    jpanarra Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    470
    Likes Received:
    1,385
    Joined:
    Jan 9, 2014
    Gender:
    Male
    Location:
    Indianapolis, Indiana
    Rep Bank:
    $11,127
    Good luck! What are you planning on tackling first?
     
    OldFaithful likes this.
  5. smarty
    Offline

    smarty Gold Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    972
    Likes Received:
    1,706
    Joined:
    Jan 2, 2013
    Gender:
    Male
    Rep Bank:
    $9,181
    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.
     
    GenPro, 404profound, Magnor and 9 others like this.
  6. RHL
    Offline

    RHL 1 - 1 Coaching Available Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    1,467
    Likes Received:
    8,496
    Joined:
    Oct 22, 2013
    Location:
    PA/NJ
    Rep Bank:
    $62,440
    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.
     
  7. Fox
    Offline

    Fox Legendary Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,201
    Likes Received:
    7,644
    Joined:
    Aug 19, 2015
    Gender:
    Male
    Location:
    Valetta, Malta
    Rep Bank:
    $39,174
    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.
     
  8. RHL
    Offline

    RHL 1 - 1 Coaching Available Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    1,467
    Likes Received:
    8,496
    Joined:
    Oct 22, 2013
    Location:
    PA/NJ
    Rep Bank:
    $62,440
    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.
     
    Last edited: Dec 13, 2016
  9. sparechange
    Online

    sparechange Bronze Contributor Speedway Pass

    Messages:
    340
    Likes Received:
    248
    Joined:
    Nov 11, 2016
    Gender:
    Male
    Location:
    Vancouver
    Rep Bank:
    $841
    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
     
    andreaguzzonato likes this.
  10. Michael Burgess
    Offline

    Michael Burgess Bronze Contributor Speedway Pass

    Messages:
    70
    Likes Received:
    201
    Joined:
    Sep 30, 2014
    Gender:
    Male
    Location:
    Collingwood, Ontario, Canada
    Rep Bank:
    $1,524
    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 :)
     
    Chimp, AgainstAllOdds and amp0193 like this.
  11. amp0193
    Offline

    amp0193 Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    1,393
    Likes Received:
    4,860
    Joined:
    May 27, 2013
    Location:
    DFW, Texas
    Rep Bank:
    $34,221
    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.
     
  12. RHL
    Offline

    RHL 1 - 1 Coaching Available Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    1,467
    Likes Received:
    8,496
    Joined:
    Oct 22, 2013
    Location:
    PA/NJ
    Rep Bank:
    $62,440
    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.

    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 ass, and make it happen!
     
    Javelin, Mikkel, miked_d and 12 others like this.
  13. MidwestLandlord
    Offline

    MidwestLandlord Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,054
    Likes Received:
    5,957
    Joined:
    Dec 6, 2016
    Gender:
    Male
    Rep Bank:
    $20,028
    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.
     
  14. sparechange
    Online

    sparechange Bronze Contributor Speedway Pass

    Messages:
    340
    Likes Received:
    248
    Joined:
    Nov 11, 2016
    Gender:
    Male
    Location:
    Vancouver
    Rep Bank:
    $841
    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 insider 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..
     
  15. sparechange
    Online

    sparechange Bronze Contributor Speedway Pass

    Messages:
    340
    Likes Received:
    248
    Joined:
    Nov 11, 2016
    Gender:
    Male
    Location:
    Vancouver
    Rep Bank:
    $841
    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???
     
  16. lowtek
    Offline

    lowtek Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

    Messages:
    543
    Likes Received:
    1,657
    Joined:
    Oct 3, 2015
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $10,514
    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.
     
  17. sparechange
    Online

    sparechange Bronze Contributor Speedway Pass

    Messages:
    340
    Likes Received:
    248
    Joined:
    Nov 11, 2016
    Gender:
    Male
    Location:
    Vancouver
    Rep Bank:
    $841
    its for an entertainment attraction, not selling products
     
    topherea likes this.
  18. topherea
    Offline

    topherea Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    1,625
    Likes Received:
    656
    Joined:
    Apr 27, 2010
    Gender:
    Male
    Rep Bank:
    $3,535
    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.
     
    Last edited: Dec 15, 2016
  19. MidwestLandlord
    Offline

    MidwestLandlord Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,054
    Likes Received:
    5,957
    Joined:
    Dec 6, 2016
    Gender:
    Male
    Rep Bank:
    $20,028
    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.
     
    OldFaithful and Kingmaker like this.
  20. sparechange
    Online

    sparechange Bronze Contributor Speedway Pass

    Messages:
    340
    Likes Received:
    248
    Joined:
    Nov 11, 2016
    Gender:
    Male
    Location:
    Vancouver
    Rep Bank:
    $841
    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
     
  21. topherea
    Offline

    topherea Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    1,625
    Likes Received:
    656
    Joined:
    Apr 27, 2010
    Gender:
    Male
    Rep Bank:
    $3,535
    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.
     
    Last edited: Dec 16, 2016
  22. biophase
    Offline

    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    5,121
    Likes Received:
    17,478
    Joined:
    Jul 25, 2007
    Location:
    Scottsdale, AZ
    Rep Bank:
    $110,777
    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?
     
  23. sparechange
    Online

    sparechange Bronze Contributor Speedway Pass

    Messages:
    340
    Likes Received:
    248
    Joined:
    Nov 11, 2016
    Gender:
    Male
    Location:
    Vancouver
    Rep Bank:
    $841
    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
     
  24. topherea
    Offline

    topherea Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    1,625
    Likes Received:
    656
    Joined:
    Apr 27, 2010
    Gender:
    Male
    Rep Bank:
    $3,535
    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
     
  25. sparechange
    Online

    sparechange Bronze Contributor Speedway Pass

    Messages:
    340
    Likes Received:
    248
    Joined:
    Nov 11, 2016
    Gender:
    Male
    Location:
    Vancouver
    Rep Bank:
    $841
    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