22, Australia, plenty ideas - no execution.

[Aphotic]

Hello everyone, just want to introduce myself.

Im 22 from Australia, currently enrolled as a law student. From the eyes of my parents and all the other 'influencers', i will be set for the slowlane as a lawyer. I do not feel that way nor do i want to 'make it' in the slowlane - the fastlane is my goal. Thats the reason we're all here isnt it?

Over the last few years ive read countless books on entrepreneurship, startups, general business, a few biographies and books on entrepreneurial individuals eg. Peter Thiel, Steve Jobs, Paul Allen, Elon Musk.. etc etc.... of course, the pivotal point of my readings is TMF (Thanks MJ).

I hate my reality - truth is, im just another student in the system taking on debt in the hopes of getting a job in the real world, competing against thousands of other students to enter and phaseout the slowlane way of life.

I realise nothing will change unless i change. And that is the reason i am here. I am sick of making excuses for myself and action-faking by reading books - i want to take real action, take control of my life and start capitalising on some of the great ideas ive thought about.

The greatest barriers i find at the moment is not having the hard skills to pursue my big ideas - most of which must be website developed or software based extensively. I don't possess much, if any web based technology-based skill (eg coding, software engineering etc) so im limited in pursuing in that aspect, and my social network does not extend that far as to encompass anybody with the skillset thats required.

I am here to take action and start something - regardless of failure.
Fail fast until i meet success.I realise im young but not that young so i need to take action ASAP.

So heres what ive done/doing:
- read a load of good books on general entrepreneurship - nothing on hard skills
- re-evaluated my life goals, in terms of the Wealth Trio - health, relationships, finance and time goals
- dropped the negative, useless friends that drag me down.
- today i got in touch with some like-minded old friends to keep me accountable and focused - im yet to find older, experienced game players.
- ive been buying and selling in-demand products in the Automotive sector to make a little cash on the side.

Heres what i will be doing:
- find the big hitters in this forum, follow and find their content
- read the gold threads.
- explore some of my old ideas ive written down - research viability ... come back here to explore issues.
- execute idea...

Thanks guys.

 

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[illmasterj]

Law idea: Become a tax lawyer for "digital nomads". You can scale the shit out of company formations. As you build your knowledge and skill, your consulting company (now employing educated slowlaners) can consult to multinationals thanks to your experience in creating and maintaining structures in multiple jurisdictions.

 

[Akeem]

Hey,

I think you're amongst a lot of others in terms of execution, a lot of people have some fantastic ideas but find it difficult to execute (or even procrastinate a lot).

In terms of the hard skills that you do not have, I think its important to remember everybody starts somewhere. I don't know exactly what type of ideas you have in your head but if they're web related and rely on the virtual side of the world, you can always get started and then learn at the same time. It may sound like a bad idea but that's how I got started. A few years ago, I finished reading TMF and I realised it had opened up a whole new side of the world I had never seen and all of a sudden certain aspects and proportions of life seemed to come over me as completely different (like for example, my awareness in regards to the slowlane and the 9-5). I loved the web, I didn't know how to code or program but I knew if I ever became successful I would be known for something I created on the internet. I started my first ever project off after finishing TMF , watched YouTube tutorials to get a grip of certain aspects of programming that I was unsure about (skipped most of it and got to the real part where they taught you and then just closed the video, I felt it was time wasting to watch the full video of them just waffling on). Eventually, I had created a simple and basic website with some MySQL integration and PHP. It felt awesome to look at and know I did it myself.

I'm beginning to waffle on-. let me cut it short: If you love the web and the idea of working from anywhere in the world by just acquiring a laptop with a internet connection then just go for it. In terms of your current formal education route, you can decide to continue with that or take a risk and dropout (though make sure that risk is calculated and not just a 'i'll become rich, who cares').

(If you need any help with anything or if you have any questions regarding HTML, CSS, PHP, Java, JQuery or anything else web/software based, don't hesitate to ask me.)

- Good luck with whatever you may decide to pursue.

 

[Aphotic]

Law idea: Become a tax lawyer for "digital nomads". You can scale the shit out of company formations. As you build your knowledge and skill, your consulting company (now employing educated slowlaners) can consult to multinationals thanks to your experience in creating and maintaining structures in multiple jurisdictions.

Creating and operating a law firm was on the books, but more of a back up solution to the fastlane should all my other efforts fall through...Very interesting, you are definitely correct about law in the digital age; its already here and will only continue to become a regulated avenue. Thanks for your input!

Hey,

I think you're amongst a lot of others in terms of execution, a lot of people have some fantastic ideas but find it difficult to execute (or even procrastinate a lot).

In terms of the hard skills that you do not have, I think its important to remember everybody starts somewhere. I don't know exactly what type of ideas you have in your head but if they're web related and rely on the virtual side of the world, you can always get started and then learn at the same time. It may sound like a bad idea but that's how I got started. A few years ago, I finished reading TMF and I realised it had opened up a whole new side of the world I had never seen and all of a sudden certain aspects and proportions of life seemed to come over me as completely different (like for example, my awareness in regards to the slowlane and the 9-5). I loved the web, I didn't know how to code or program but I knew if I ever became successful I would be known for something I created on the internet. I started my first ever project off after finishing TMF , watched YouTube tutorials to get a grip of certain aspects of programming that I was unsure about (skipped most of it and got to the real part where they taught you and then just closed the video, I felt it was time wasting to watch the full video of them just waffling on). Eventually, I had created a simple and basic website with some MySQL integration and PHP. It felt awesome to look at and know I did it myself.

I'm beginning to waffle on-. let me cut it short: If you love the web and the idea of working from anywhere in the world by just acquiring a laptop with a internet connection then just go for it. In terms of your current formal education route, you can decide to continue with that or take a risk and dropout (though make sure that risk is calculated and not just a 'i'll become rich, who cares').

(If you need any help with anything or if you have any questions regarding HTML, CSS, PHP, Java, JQuery or anything else web/software based, don't hesitate to ask me.)

- Good luck with whatever you may decide to pursue.

Thanks for your input and the invitation, i appreciate it! Yeah the 'jumping in the deep end' and 'just doing it' is something i should do more often. Ive got a lot of big, scalable ideas pertaining to the internet/software but am yet to start anything which does my head in knowing i haven't acted on anything.
I had better start on reviewing my ideas and just start!

 

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[Concept]

Hey mate, good to see another Aussie here. Where abouts are you located? I'm in Armidale NSW, but go down to Sydney about once a month or so.

My recommendation is give yourself a time limit on picking your niche and get into action.

Good resources for picking a niche:

1. http://www.buildersociety.com/threads/day-2-choosing-a-niche-direction.1339/
2. http://lifestyledesignacademy.com/how-to-find-100-hyper-profitable-new-niches-every-day/
3. http://backlinko.com/keyword-research

These are tailored more towards online business but they will give you a great start. Set a time to have picked a niche. 1 week from today. Make sure they fit the criteria in #1 above. It doesn't have to be perfect, even the most "perfect" idea isn't perfect. You will learn more about the niche by taking action. Learn as you go, and what you will learn will be a lot more relevant.

Also, find yourself a mentor asap. Someone who has been there and learnt the ropes. How do you that is get out there, meet people, reach out and be in action actually building a business. A mentor will propel you forward big time and will help you avoid all the common traps when setting up a business.

 

[katee7]

Hey mate, good to see another Aussie here. Where abouts are you located? I'm in Armidale NSW, but go down to Sydney about once a month or so.

My recommendation is give yourself a time limit on picking your niche and get into action.

Good resources for picking a niche:

1. http://www.buildersociety.com/threads/day-2-choosing-a-niche-direction.1339/
2. http://lifestyledesignacademy.com/how-to-find-100-hyper-profitable-new-niches-every-day/
3. http://backlinko.com/keyword-research

These are tailored more towards online business but they will give you a great start. Set a time to have picked a niche. 1 week from today. Make sure they fit the criteria in #1 above. It doesn't have to be perfect, even the most "perfect" idea isn't perfect. You will learn more about the niche by taking action. Learn as you go, and what you will learn will be a lot more relevant.

Also, find yourself a mentor asap. Someone who has been there and learnt the ropes. How do you that is get out there, meet people, reach out and be in action actually building a business. A mentor will propel you forward big time and will help you avoid all the common traps when setting up a business.

 

[katee7]

Also pleased to see more Aussies on here. I am located in the Blue Mountains area near Sydney and attended uni in Armidale and Sydney. I am finishing my postgraduate studies in science and will definitely be pursuing self employment. I am not sure why more students are not considering entrepreneurship as a valid career choice after uni. Aphotic I am very impressed with the steps you have taken, to me it sounds like you are way ahead of the pack.

 

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[Aphotic]

Hey mate, good to see another Aussie here. Where abouts are you located? I'm in Armidale NSW, but go down to Sydney about once a month or so.

My recommendation is give yourself a time limit on picking your niche and get into action.

Good resources for picking a niche:

1. http://www.buildersociety.com/threads/day-2-choosing-a-niche-direction.1339/
2. http://lifestyledesignacademy.com/how-to-find-100-hyper-profitable-new-niches-every-day/
3. http://backlinko.com/keyword-research

These are tailored more towards online business but they will give you a great start. Set a time to have picked a niche. 1 week from today. Make sure they fit the criteria in #1 above. It doesn't have to be perfect, even the most "perfect" idea isn't perfect. You will learn more about the niche by taking action. Learn as you go, and what you will learn will be a lot more relevant.

Also, find yourself a mentor asap. Someone who has been there and learnt the ropes. How do you that is get out there, meet people, reach out and be in action actually building a business. A mentor will propel you forward big time and will help you avoid all the common traps when setting up a business.

Thanks mate, haha its always great to see to see other Aussies on here - ahh im from sydney! but i relocated to WA. Thanks for the resources, theres some some great info in there ill be taking on board to test some ideas.
Definitely agree with you there on the mentor subject. I realise my comfort zone is key here, so i have to start putting myself out there.

Also pleased to see more Aussies on here. I am located in the Blue Mountains area near Sydney and attended uni in Armidale and Sydney. I am finishing my postgraduate studies in science and will definitely be pursuing self employment. I am not sure why more students are not considering entrepreneurship as a valid career choice after uni. Aphotic I am very impressed with the steps you have taken, to me it sounds like you are way ahead of the pack.

Likewise kate! Grads feel indebted (money, time, effort) to their 3-5 year degree and ultimately demand compensation for their 'struggles' by just entering their desired field theyve been trained for - people aren't used to the unknown, and the insecurity that comes with entrepreneurship - so they choose the safe path - unknowingly that the slowlane equation is a futile, losing-game in the end lol (may be some outlier exceptions).
Thanks for the feedback, ive still got so much to do and lots to learn.