20-year-old Aspiring Multi-Millionaire Seeking Advice

[Shabeer]

Hello Fastlane Forum users and fellow Entrepreneurs,

My name is Shabeer Sayedzadah, and I'm a 20-year-old male who aspires to be a multi-millionaire, who is rich in every aspect of life (wealth, health/fitness, relationships etc...). I am currently unemployed (by choice) and I have no expenses or parasitic debt to my name. I was going to enrol in a University close to home (I live in Toronto, Canada), but dropped out within the first two weeks, realizing that I wanted more out of life and that school or a degree wasn't going to take me there, but rather put my dreams on hold. Yes, I'm currently living with my parents if you were wondering.

I have read MJ DeMarco's The Millionaire Fastlane twice now, and I'm currently listening to the audio book to grasp greater knowledge and understanding from the depths of MJ's wisdom. I only came here now because I feel like I'm finally ready to engage with other fastlaners, but really, because I seek help and advice from wise entrepreneurs who've done what I want to achieve.

So I'll give you guys a quick backstory. I had started a company on an idea that I thought (and still do think) is brilliant. I won't go too into detail as it is something I will be pursuing in the near future, but it is a service for travellers. And I had started that company last year, and launched it and everything, and my website had a beautiful design, and was fully functional and easy to use. My only problem at that time was I didn't know how to market the service, and I didn't have the money or resources to pay or supervise employees. I was marketing via social media because I learned that's a great way to market, and I was even writing blog posts on my businesses site to increase traffic/exposure. I also realized that I prefer creating a business that is non-reliant on employees if at all possible. This could honestly come down to a horrible mentality or mindset, or me quitting, and if it is any of the above, please don't hesitate to let me know.

It was after this experiment with this company that I realized I wanted to find a way to increase my popularity and demand, so that no matter what product/service I release, I will always have an audience that will want or need it.

And so, I started up a YouTube channel. I started this channel on October 2016, and I'm nearing in on 11 months of almost daily uploads. I run a gaming channel based on the video game EA Sports FIFA 17. I currently have just under 9500 subscribers, and my goal and plan is to grow the channel to 10 million subscribers+. During this year, I have also learned that I am quite good at this game, and if I keep practising, can compete in FIFA events starting next year, where I'll be playing vs. other players in North/South America and potentially the world for grand prizes exceeding 1.3 million USD.

I also have a multitude of great business ideas that I have recorded in my phone on a google document that I plan on acting on in the near future. I also started meeting with a mentor on a bi-weekly basis who is helping me shift my mindset and think positively, and use the law of attraction to my favour. (I know MJ isn't a big fan of this law, but I thought it could only help me in my goals and dreams).

Lastly, before I ask for advice, I feel burnt out and seek to travel somewhere for a break. I have the money to do so, but I won't have much money left over after I do. Would it be a wise thing to act on? Because I know time is of the essence, and I don't want to regret things in life.

I'm just a regular young adult who wants the freedom to travel the world, watch his favourite sports teams, watch his children grow before his eyes (in the future), and help others achieve mastery in life.


So here comes my plead for help and advice. Is YouTube a fastlane pursuit, or am I wasting my time? Secondly, should I continue mastering my skills and pursue professional gaming on FIFA? And last but certainly not least, am I on the right path? MJ, if you're reading this, I pray to god you respond to my questions, I would be eternally grateful!

 

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[Imgal]

So here comes my plead for help and advice. Is YouTube a fastlane pursuit, or am I wasting my time? Secondly, should I continue mastering my skills and pursue professional gaming on FIFA? And last but certainly not least, am I on the right path? MJ, if you're reading this, I pray to god you respond to my questions, I would be eternally grateful!

Here's the one big problem with building a business around Youtube and it's around the Commandment of Control. Youtube could decide at any moment that it's going to close down and become a pet shop instead and your source of income is gone forever. It's the same with professional gaming. You are hitchhiking on something else and you could have it pulled from beneath you at any time. Does that mean you shouldn't do it? If you enjoy it, if you can make money from it and know that one day it might all disappear and you're going to have to start over (I don't mean that as negatively as it sounds) then why the hell not give it a go - just understand the risks!

I, for example, have some clients building their profile with shows on Facebook Live and Youtube. They want to be online sensations. To have them not on either of these channels would be to their detriment. They need to gain exposure to be interesting to brands and this is a fast way to get them there. It's also a great tool for learning what their audience really wants. However, I am making sure at the same time they're building up content on a platform of their own and slowly pushing the audience that way so there will be a point when whatever happens to all the social media platforms out there they won't suddenly find themselves dead in the water overnight.

 

[Sam Kennedy]

Is YouTube a fastlane pursuit, or am I wasting my time?

Sorry I'm not MJ, but to help answer this question you can do a CENTS analysis:

Control - How are people finding your videos? Could YouTube change something in their search algorithm and suddenly your videos no longer show up in the search results? Could they find a reason to block/restrict your videos?
Entry - A YouTube account can be created in seconds, screen recording software is easy to download and set up, entry requirements are pretty low.
Need - What needs are you fulfilling? You have 9500 subscribers, so I'm guessing entertainment, however is it such a big need that you can profit from it?
Time - Once your videos are created and uploaded, they could potentially create sales independent of your time, however you also have to consider how active the users on your channel would be if you no longer uploaded any new content
Scale - You have the potential to reach millions of people, however, with so much content on YouTube, will you?

Whether or not this is fastlane depends on how you answer those questions. You've done well to get 9500 subscribers Maybe think of ways you could leverage that. If you're really good, maybe you could create ebooks or videos that help people improve their strategy? Whatever you decide on, make sure you are actually offering real value, and aren't just trying to make a quick buck.

 

[Shabeer]

Here's the one big problem with building a business around Youtube and it's around the Commandment of Control. Youtube could decide at any moment that it's going to close down and become a pet shop instead and your source of income is gone forever. It's the same with professional gaming. You are hitchhiking on something else and you could have it pulled from beneath you at any time. Does that mean you shouldn't do it? If you enjoy it, if you can make money from it and know that one day it might all disappear and you're going to have to start over (I don't mean that as negatively as it sounds) then why the hell not give it a go - just understand the risks!

I, for example, have some clients building their profile with shows on Facebook Live and Youtube. They want to be online sensations. To have them not on either of these channels would be to their detriment. They need to gain exposure to be interesting to brands and this is a fast way to get them there. It's also a great tool for learning what their audience really wants. However, I am making sure at the same time they're building up content on a platform of their own and slowly pushing the audience that way so there will be a point when whatever happens to all the social media platforms out there they won't suddenly find themselves dead in the water overnight.

You make a fantastic point, and it is something I've given heavy thought. I thoroughly enjoy playing FIFA competitively, and doing YouTube on my favourite video game. I am going to grow my twitter/instagram and Twitch networks. But, in the near future, my goal is to create my own website and get my dedicated fans' emails and market using an email based platform. But also, to offer products and services through this site, including 1-on-1 coaching and development on the video game.

 

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[Van Halen]

Here's the one big problem with building a business around Youtube and it's around the Commandment of Control. Youtube could decide at any moment that it's going to close down and become a pet shop instead and your source of income is gone forever.

You are right about control, but being the second most visited site in the world, youtube isn't going anywhere. Maybe from the angle of youtube taking your videos down/stop monetising them. It has happened in the past. Theres also some 3 strike violations thing (I think) where if you hit 3 your account is removed permanently along with all your videos. I remember it nearly happened to Eli the Computer Guy some time back.

 

[Envision]

I'd focus on one thing, do whatever seems to have the best odds of applying to NESCT principles.

Get a job or figure out how to earn money without living off your parents.

You need to learn skills somehow so start doing something or go to school. Otherwise you'll chase your tail without ever making real progress.

 

[Shabeer]

Sorry I'm not MJ, but to help answer this question you can do a CENTS analysis:

Control - How are people finding your videos? Could YouTube change something in their search algorithm and suddenly your videos no longer show up in the search results? Could they find a reason to block/restrict your videos?
Entry - A YouTube account can be created in seconds, screen recording software is easy to download and set up, entry requirements are pretty low.
Need - What needs are you fulfilling? You have 9500 subscribers, so I'm guessing entertainment, however is it such a big need that you can profit from it?
Time - Once your videos are created and uploaded, they could potentially create sales independent of your time, however you also have to consider how active the users on your channel would be if you no longer uploaded any new content
Scale - You have the potential to reach millions of people, however, with so much content on YouTube, will you?

Whether or not this is fastlane depends on how you answer those questions. You've done well to get 9500 subscribers Maybe think of ways you could leverage that. If you're really good, maybe you could create ebooks or videos that help people improve their strategy? Whatever you decide on, make sure you are actually offering real value, and aren't just trying to make a quick buck.

C = I have limited control. YouTube has already had problems with advertisers (Ad Boycott) and they change their algorithms periodically.
E = Entry is very simple and easy with limited costs. I'm already up and running.
N = If I pursue a pro-players side, where I'm providing viewers help in their game, the market has a maximum yield of about 500, 000 subscribers. If I pursue pure entertainment, the maximum yield is unlimited
T = YouTube is a platform where you have to be uploading regularly (at least once a week), in order for the sales and profit to be regular.
S = You're 100% right. The market is so saturated right now, but with the right ideas and originality of content (and Esports, which is competitive gaming, has only started on FIFA this year, so if it explodes which there is a great chance for it happening, the scale could increase exponentially)

Thanks man, getting to 9500 subscribers was no easy task, but on YouTube, all it takes is that one video that blows you up and changes your channel/life forever!

 

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[Van Halen]

all it takes is that one video that blows you up and changes your channel/life forever!

Sounds like sidewalk talk

 

[Shabeer]

You are right about control, but being the second most visited site in the world, youtube isn't going anywhere. Maybe from the angle of youtube taking your videos down/stop monetising them. It has happened in the past. Theres also some 3 strike violations thing (I think) where if you hit 3 your account is removed permanently along with all your videos. I remember it nearly happened to Eli the Computer Guy some time back.

This is where my head is at. By 2020, 90% of informations humans receive will be through video, which would suggest YouTube's lifespan to grow even more, and continue getting bigger. And the 3 strike rule is for copyright violations. Something I don't do, and stay away from! I make all my content myself

 

[Shabeer]

Sounds like sidewalk talk

Damn, really?

 

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[Shabeer]

I'd focus on one thing, do whatever seems to have the best odds of applying to NESCT principles.

Get a job or figure out how to earn money without living off your parents.

You need to learn skills somehow so start doing something or go to school. Otherwise you'll chase your tail without ever making real progress.

I'll start using the NESCT now with all my ideas and potential ventures. Why live on my own? It would help me gain responsibility/accountability I get that, but the job would suck the life out of me and make pursuing my dream a bit tougher. Plus is all the stress/pressure from bills worth living on my own?

And on your last point, can you please elaborate? For me, going to school means being $20000+ in debt, and I don't think parasitic debt is what I need right now

 

[GMSI7D]

I'm just a regular young adult who wants the freedom to travel the world, watch his favourite sports teams, watch his children grow before his eyes (in the future), and help others achieve mastery in life.

1) no you are not a regular young adult because you found this forum unlike most people

2) you don't need money to travel the world. i have been in many countries with the money of the host, not mine as a guest


stratagem number 3 " use others ressources to get ahead "

stratagem number 30 " make the host and guest exchange places"

source : the 36 chinese stratagems

3) ok

4) ok

5) before doing that, you must first become a master and that's a lot of work.

this book is a must read :

 

[SquatchMan]

So here comes my plead for help and advice. Is YouTube a fastlane pursuit, or am I wasting my time? Secondly, should I continue mastering my skills and pursue professional gaming on FIFA? And last but certainly not least, am I on the right path? MJ, if you're reading this, I pray to god you respond to my questions, I would be eternally grateful!

YouTube can be fastlane.

So can owning a carpet cleaning company.

The platform you choose does not make a business fastlane/slowlane.
The execution of the business makes it fastlane.

Figure out a way to lead your viewers into a sales funnel without pissing them off and you'll make money.

If you piss them off, then your views will dip.

Onto your point about becoming a professional gamer.

In my opinion, it is a negative expected value move (I'm being nice).

Can you win $1.3 million?

Sure. It will require a large time investment sitting on your butt in front of a TV and even then the odds are low.

What if you don't win 1.3 million dollars? What transferable skills do you have?

Well you can beat all your friends at FIFA while living at your parents house.

Good job on the 9500 subscribers. That is impressive. If you can get 10k subs, then why can't you get 100k. Once you get 100k, then why can't you get 200k. The reason why?

Most people quit because it gets too hard or their viewers piss them off.

Guilty as charged on that one.

I'll start using the NESCT now with all my ideas and potential ventures. Why live on my own? It would help me gain responsibility/accountability I get that, but the job would suck the life out of me and make pursuing my dream a bit tougher. Plus is all the stress/pressure from bills worth living on my own?

And on your last point, can you please elaborate? For me, going to school means being $20000+ in debt, and I don't think parasitic debt is what I need right now

If getting a job makes pursuing your dream a bit tougher, then you might not have what it takes to make it as an entrepreneur. And I'm being serious. You do realize that pursuing your dream means you have to do things you don't like and that oftentimes aren't particularly fun?

School is a scam in my opinion. I agree with you on that.

 

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[Envision]

I'll start using the NESCT now with all my ideas and potential ventures. Why live on my own? It would help me gain responsibility/accountability I get that, but the job would suck the life out of me and make pursuing my dream a bit tougher. Plus is all the stress/pressure from bills worth living on my own?

And on your last point, can you please elaborate? For me, going to school means being $20000+ in debt, and I don't think parasitic debt is what I need right now

I think the job would teach you responsibility and it would put money in your pocket so you can do something. Right now you're doing nothing, literally. And that will hinder your progress. You have nothing forcing you to make progress so you'll spin your wheels.

You dont have skills, marketing skills, sales, tech, programming, seo, ppc, anything. You dont have to go to school but you have to do something. The reason I mention school is because its the easiest way for someone to gain skills and add value to the marketplace. Not saying you have to but without a structure or driving force pushing you it will be hard without discipline to do anything.

If you had a job and made some money that allowed you to develop a product and run PPC to market it you'd develop certain skills.

If you had the skills you could sell SEO/web design to local companies for cash flow.

The reason I mention those skills is because they directly apply to your idea and the progress of it.

My final point is the stress/pressure/debt from all the things that contribute to being a functioning adult in the real world are what drives great people to do great things. When you have no choice to succeed you'll figure it out or die trying. Right now you have nothing pushing you, you're living off the handouts your parents provide and to be honest I dont know a legit owner of a company that does that regardless of being 20.

 

[Shabeer]

I think the job would teach you responsibility and it would put money in your pocket so you can do something. Right now you're doing nothing, literally. And that will hinder your progress. You have nothing forcing you to make progress so you'll spin your wheels.

You dont have skills, marketing skills, sales, tech, programming, seo, ppc, anything. You dont have to go to school but you have to do something. The reason I mention school is because its the easiest way for someone to gain skills and add value to the marketplace. Not saying you have to but without a structure or driving force pushing you it will be hard without discipline to do anything.

If you had a job and made some money that allowed you to develop a product and run PPC to market it you'd develop certain skills.

If you had the skills you could sell SEO/web design to local companies for cash flow.

The reason I mention those skills is because they directly apply to your idea and the progress of it.

My final point is the stress/pressure/debt from all the things that contribute to being a functioning adult in the real world are what drives great people to do great things. When you have no choice to succeed you'll figure it out or die trying. Right now you have nothing pushing you, you're living off the handouts your parents provide and to be honest I dont know a legit owner of a company that does that regardless of being 20.

A lot of good points on here man. I ran the service online that helps make a tough decision and it also said to live on my own. I'll work on finding a job this summer, and tbh the only sort of experience I have is in sales or as a line cook. I'm thinking a sales job will further enhance my abilities and skills as an entrepreneur, so I'll push for that. But more importantly, I'll seek to find a job as quickly as I can.

I had a question, since I assume you live on your own. Do you have any tips for me? I will carve out a plan and a budget map that will help me understand my expenses and the money I'll be earning from my job so that I have a clear picture of what to expect. But is there anything else I need to take into account? Plus, this whole time I was thinking, why not earn income while pursuing your dreams? My YouTube channel only takes up about 3-4 hours of my day. I go to the gym 3 days per week, and aside from that and my daily walks, nothing is stopping me from working.

 

[V8Bill]

E = Entry is very simple and easy with limited costs. I'm already up and running.

Be careful here, you say it like it's a good thing that you're able to be up and running quickly. It's not. It's a bad thing. You want the barrier to be high so not anyone can just hop in and compete with you with very little effort or cost on their part.

 

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[Shabeer]

Be careful here, you say it like it's a good thing that you're able to be up and running quickly. It's not. It's a bad thing. You want the barrier to be high so not anyone can just hop in and compete with you with very little effort or cost on their part.

Yeah I realized the error there. It's actually a huge negative, which is why YouTube is so saturated now adays. And since YouTube doesn't abide by the Entry rule, it makes it an unviable option. But im so torn between stopping or continuing, because I've amassed nearly 10k in the first year, which is making me hopeful for bigger and better things next year. But, im almost certain that thats a sidewalker's way of thinking... I got to really figure this out

 

[V8Bill]

Keep it going because you love it. That alone has value in your life and because (as I've learned) you just never know. plus you're learning valuable skills. Perhaps don't put all your eggs in that basket and keep an eye out for other ways to add value and help people. You'll find one, there are many hours in a day. Don't beat yourself up because you can't see it right now. Just be on the look out. Now that you know what you're looking for your filter system will look at every opportunity with MJs formula. Keep reading, keep looking, push on and good things will happen.

 

[Dunkafelics]

@Shabeer you are doing a great job at 20 years old and need to keep going with the momentum that you have built.

I think a smart approach would be to look at the FIFA plan as a hobby and not a business. Use some of your free time to focus on building your YouTube page and work towards building your subscribers.

My recommendation would be to start looking into viable business options and use the resources around you. Now is the time to educate yourself and there are a lot of resources (coding, copywright, sales, etc) on this forum alone that can help jump start that experience. Check out the Gold tagged topics and you will see what I mean.

All the best to you!

 

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[Envision]

A lot of good points on here man. I ran the service online that helps make a tough decision and it also said to live on my own. I'll work on finding a job this summer, and tbh the only sort of experience I have is in sales or as a line cook. I'm thinking a sales job will further enhance my abilities and skills as an entrepreneur, so I'll push for that. But more importantly, I'll seek to find a job as quickly as I can.

I had a question, since I assume you live on your own. Do you have any tips for me? I will carve out a plan and a budget map that will help me understand my expenses and the money I'll be earning from my job so that I have a clear picture of what to expect. But is there anything else I need to take into account? Plus, this whole time I was thinking, why not earn income while pursuing your dreams? My YouTube channel only takes up about 3-4 hours of my day. I go to the gym 3 days per week, and aside from that and my daily walks, nothing is stopping me from working.

Good idea, sales is always a great way to go. Whether its cars, roofs, window cleaner or your own product youll develop skills thats for damn sure.

I'd house hack if I were you. Thats what I did. Bought a duplex, lived in one side and rented a room to a roomate and rented the other side out. If you do it right you can live for free and focus on other things that are in line with your goals while you're property gets paid off by other people:

There is a thread on this forum about househacking. I'd search for it in the Gold threads by GAlexander

You need to define your goals man. Figure out what your life looks like in 10 years and back track it. I dont know what you should be doing and im not sure you do either. But if you do take the time to define it (Tony Robbins is good for this) you'll get alot of clarity.

For reference:
I get up at 7am/eat/read/meditate/review/emails
work 9-5 (meetings, mailing, etc and do stuff for my own business)
Gym 5:45-7:30ish
Work on business ventures 8-1
repeat

You have a shit ton of time. allocating it correctly is the hard part. I create task lists every night. My top three things I need to get done the next day and thats what I review every morning. Your productivity will skyrocket when you start to track it.

 

[Shabeer]

Keep it going because you love it. That alone has value in your life and because (as I've learned) you just never know. plus you're learning valuable skills. Perhaps don't put all your eggs in that basket and keep an eye out for other ways to add value and help people. You'll find one, there are many hours in a day. Don't beat yourself up because you can't see it right now. Just be on the look out. Now that you know what you're looking for your filter system will look at every opportunity with MJs formula. Keep reading, keep looking, push on and good things will happen.

Thanks man I will! I actually, starting today, found a hole in the FIFA market in terms of building community, asked around my fans and other FIFA players if they'd be interested in my website idea, every single response was positive! I'm taking action as we speak, and I know speed is important in execution so within the next week, I'm hoping the beginning stages of my website are released!

 

[Shabeer]

Good idea, sales is always a great way to go. Whether its cars, roofs, window cleaner or your own product youll develop skills thats for damn sure.

I'd house hack if I were you. Thats what I did. Bought a duplex, lived in one side and rented a room to a roomate and rented the other side out. If you do it right you can live for free and focus on other things that are in line with your goals while you're property gets paid off by other people:

There is a thread on this forum about househacking. I'd search for it in the Gold threads by GAlexander

You need to define your goals man. Figure out what your life looks like in 10 years and back track it. I dont know what you should be doing and im not sure you do either. But if you do take the time to define it (Tony Robbins is good for this) you'll get alot of clarity.

For reference:
I get up at 7am/eat/read/meditate/review/emails
work 9-5 (meetings, mailing, etc and do stuff for my own business)
Gym 5:45-7:30ish
Work on business ventures 8-1
repeat

You have a shit ton of time. allocating it correctly is the hard part. I create task lists every night. My top three things I need to get done the next day and thats what I review every morning. Your productivity will skyrocket when you start to track it.

I'll definitely learn more about house hacking. I don't have the means to mortgage a home at the moment, nor do I want to, but I'll find ways to do so. Also, my mother said "why don't you work and help me out monthly instead of leaving me alone." If I didn't mention, we are living paycheque to paycheque atm, and my mom is basically a single mom, while I do have a father who works, he pays for nothing in the house, aside from occasional groceries once a month. He has an addiction to lottery/cigarettes thats consuming his life. But anyways, would it be wise to move out, or work but provide for my mother and help her out (with my share of income)?

But yeah man, your schedule is similar to mine. I wake up at 7-8am, eat, go to the gym, record/edit/upload my YT vid, eat, go for my daily walk while listening to an audio book, and then come back and honestly waste my time for 3 hrs before sleeping. So there's the problem in my time management. But thankfully, starting today, found a hole in the FIFA market in terms of building community, asked around my fans and other FIFA players if they'd be interested in my website idea, every single response was positive! I'm taking action as we speak, and I know speed is important in execution so within the next week, I'm hoping the beginning stages of my website are released! I'm actually so excited!

 

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[Shabeer]

@Shabeer you are doing a great job at 20 years old and need to keep going with the momentum that you have built.

I think a smart approach would be to look at the FIFA plan as a hobby and not a business. Use some of your free time to focus on building your YouTube page and work towards building your subscribers.

My recommendation would be to start looking into viable business options and use the resources around you. Now is the time to educate yourself and there are a lot of resources (coding, copywright, sales, etc) on this forum alone that can help jump start that experience. Check out the Gold tagged topics and you will see what I mean.

All the best to you!

Thanks my man, will do!

 

[Blog Splash]

Depending on your goal with youtube will determine whether what you're doing is right for you or not. If you have the financial freedom you want then to me it sounds as though you've found something you passionately enjoy therefore should continue to pursue. There's nothing stopping you from doing something you enjoy therefore you should definitely take this opportunity and live life before something comes up because there's only one reason we all work... and that's so we can have that option of doing what we want. If this is the option you have, you'll regret it if you let it pass so take it and grind hard in it because no matter what you do you should always aim to be the best!

If you're looking for financial independence gained from soley youtube then you shouldn't do it unless you have a net behind you and this isn't simply for the 'safe' way of doing things, it's because you need some in the bank so you can live and invest in the content you deliver on youtube as your channel grows and will continue to grow. Also if you have that money at the start and not having to work you can focus on your channel helping it to grow quickly and this is imperative if you're looking for a stable income from youtube as the revenue is majorly dependent on your view time and ad engagement (monetization). So, it's possible to gain an income but I wouldn't recommend it from youtube as it's a fluctuating source of income and you could gain make so much more using other methods.
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