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GOLD! 6 Figures At 18! 1 Year of The Fastlane Forum

Discussion in 'Lessons from Success/Failure' started by PTP, Dec 14, 2016.

  1. WarWizard
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    WarWizard Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Hey @PTP,

    Congratulations, and thanks for sharing.

    It's inspirational hearing of youngsters succeeding, and breaking free of the indoctrination and 'system'.

    I wish I had your mindset and focus at 17/18.

    It's taken me years of working on my mindset to even just start seeing 'clearly'.

    Keep up the great job and keep inspiring those of us on the journey ;)
     
    ruzara5, Larry P and PTP like this.
  2. LifestyleGem
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    LifestyleGem Contributor FASTLANE INSIDER

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    Wow, this is really inspiring. Congrats on the success! And keep us all updated on the progress.
     
    PTP likes this.
  3. PTP
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    PTP Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Thank you! I should be posting my 2 year update in the next month or so. So much has happened!
     
  4. sparechange
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    sparechange Silver Contributor Speedway Pass

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    When you picking up the mclaren! Always walk by the dealer in vancouver, gorgeous car
     
    PTP likes this.
  5. PTP
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    PTP Gold Contributor Read Millionaire Fastlane Speedway Pass

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    A little closer every day ;)
     
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  6. Copperfield
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    Copperfield New Contributor Read Millionaire Fastlane

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    I would like to thank you for this. First of all because after reading this I decided to write back to you. I have never been a participant in any forum before. You are mentally close to me, despite the fact that I am much older than you because I am 40 years old. I had several businesses including a factory employing 150 people. Currently, I start from scratch in a new it business, people like you are my inspiration. I am happy about your happiness and I wish you good luck. Joining this forum is one of my best decisions.
     
    NickB, Tommo, TheCj and 1 other person like this.
  7. NewManRising
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    NewManRising Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Incredible. Thanks for the inspiration.
     
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  8. MrYoshi
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    MrYoshi Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Man, awesome job. This is pure gold.
     
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  9. Kraelog
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    Kraelog Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Congratulations!!! Magnificent doing this in high school.
     
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  10. Zedd9165
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    Zedd9165 Contributor Read Millionaire Fastlane

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    I feel really nice when young men get into something productive, develop their skills, talent and grow with it. All the best for your future endevours.
     
    ruzara5 and PTP like this.
  11. ruzara5
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    ruzara5 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Research is key.
     
    PTP likes this.
  12. Bishop
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    Bishop Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    So @PTP

    It's almost exactly a year later from your original post. Any victories, failures, or lessons learned that you want to share? Just wondering how you are getting along.
     
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  13. PTP
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    PTP Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Thanks for the bump! I'll be posting an update in the next few days once I get a chance to sit down and do a proper write up.
     
  14. DronePilot
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    DronePilot Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Still patiently waiting and looking forward to the 2 year update lol
    @PTP
     
  15. Bishop
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    Bishop Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    @PTP
    business must be real good :)
     
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  16. PTP
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    PTP Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Year 2 Update:

    It's time for a long overdue update.

    2017 was a crazy year. Looking back at my last post in December '16 to where things are now, it's almost hard to comprehend how much has changed in such a short time. If there is one thing I want to stress in this post, it's the need to get moving, now. For those of you who are still waiting on the sideline until the right time to get started, you're losing. Period. As the quote goes, "the best time to start was yesterday. The next best time is now." With that, let's get into it.

    Made in USA

    In May I launched the first of my 3 new proprietary designed USA made products. The process took over 6 months entirely due to my own mistakes and lack of knowledge. After months of back and forth work, the first designer I hired and paid ended up delivering a terrible drawing that couldn't be manufactured. Then the talks with the manufacturer we were going to use fell apart leaving us with no manufacturer and no designs.

    My brother ended up helping me design 3 rough models of what I wanted each to look like. I also ended up finding another manufacture by sheer luck who was able to adjust the designs my brother made to be machinable.

    Tight cash flow wouldn't allow for the purchase of all 3 designs at once so I had to order one at a time until I could afford the other models. Once the first design was ready and shipped, I made a clean break in the brand and switched the brand name and URL. At the same time I removed all the Chinese made products from my website despite the fact that some of them had 80+ reviews and were selling well.

    This re-start of the business caused sales to drop 40% in May. It was a tough month mentally but was 100% necessary for my long term vision of the business.

    Once cash flow allowed for the launch of the 2 other models, sales shot up 136% in June and have been steadily increasing since then.

    Growth

    Sales this year were 75% higher than the stretch goal I had set in January last year. Most of it can be attributed to the new products, as well as reaching out to a lot of YouTube influencers and having them do reviews of the products. About 90%-95% of sales are organic/referrals and 80% of sales are from my own store.

    A result of this growth is that my parents are becoming much more involved in the business. My dad handles the accounting and my mom packages and ships out all orders. I'm also in the process of re-locating to an office space and will be hiring an employee in about 1 month. By the end of the year if all goes to plan, i'll have 3-4 full time employees and possibly be looking to re-locate again to a larger space.

    My goal is to have my dad become my full time business partner and work on scaling the business and growing a team together.

    School

    I did graduate high school, albeit barely :playful: The more time I spent on the business, the worse my grades got. Most days were spent answering customer service emails or doing anything other than school.

    Also, I decided to take a year off from college. This allowed me to continue to grow the business and see where it would take me in a year. Instead of deciding not to go and "burning the bridges" so to to speak, I first made sure I could get back in if things didn't go well.

    Also screenshotted this gem when I rejected the admission. Not sure how often this window is shown, but it's nice to do the rejecting for once!
    college drop out.png
    Needless to say I probably won't be headed back and it sure feels good to be free!

    2018

    A couple things that are in the pipes:
    • Creating a 2nd website that will be an extension of my current brand. I have a few reasons for doing this but got the idea from Tempur-pedic (They have a separate shop for only their pillows vs their main store with everything)
    • Develop new products and expand horizontally into a new niche. Currently have one new prototype finishing up in 2 weeks.
    • Grow the team to take myself out of the day to day operations so I can focus on new products and growth.
    • B2G and B2B sales.

    If 2018 is going to be anything like 2017, it's going to be an exciting year. However, none of it would have happened had I not made the leap and put in that $188 order back in 2016. You don't need another book, you don't need another course, you don't need to drop out of school or leave your job to start. You don't need any of it.

    What you need is to start selling something - almost anything. It doesn't have to be a home run, but it can't be a garlic press. Just by selling something and interacting with the marketplace everyday, you'll begin to see what works and what doesn't.

    Another crazy thing happens when you start selling. Your customers will tell you what they want! I can't tell you how many times a customer has come to us and suggested we make a product they want to buy. It's crazy. You just need to decide on the first one and they will come up with the rest.

    A lot can change in a year, where will you be in 2019?


    Thank you to everyone that has taken the time to read this far. I really appreciate your time and hope you have a great 2018 :fistbump:

    PS: My dad and I will be heading out to the Summit this week. I'm looking forward to meeting everyone that's going and seeing the faces behind the profiles!
     
    ToddD, Aristotelis_96, IlyaP and 32 others like this.
  17. malphax5
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    I love it! I am 18 and am starting too.


    Sent from my iPhone using Tapatalk
     
    PTP likes this.
  18. AllenCrawley
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    AllenCrawley Legendary Contributor Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    I’m so happy to have met you at the Summit this year. You are crushing it! Let me know if I can help in any way.

    Thread marked gold and rep’d.
     
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  19. Ioachim
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    Ioachim New Contributor Read Millionaire Fastlane

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    That's what I feel too. I'm 24 and didn't have much perspectives and an entrepreneur mindset until lately. But I'm glad I got to read TMF in my 20's at least. Thank you so much for this book. I just finished it yesterday and it was a gold miner until the last page.
     
    Aristotelis_96, NickB and MJ DeMarco like this.
  20. Ioachim
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    Ioachim New Contributor Read Millionaire Fastlane

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    Thanks for your inspiring story!
     
    PTP likes this.
  21. Sanj Modha
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    Sanj Modha Gold Contributor Speedway Pass

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    Congrats! I was doing nothing at 18. Nothing.
     
    PTP and BSK like this.
  22. GravyBoat
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    GravyBoat Silver Contributor Read Millionaire Fastlane Speedway Pass

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    Damn, I was just about to order one of these off Amazon! LOL

    Great job man, keep kicking ass. Pretty sure I missed you at the Summit but I will make a point to find you next year. Truely inspiring!!
     
    PTP likes this.
  23. PTP
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    PTP Gold Contributor Read Millionaire Fastlane Speedway Pass

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    WOW, thank you so much!!

    It was amazing meeting you as well and what you're building is incredible. Looking forward to seeing more updates on your progress thread!
     
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  24. PTP
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    PTP Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Hey, at least you'll be getting it at a rock bottom price!

    Thanks buddy:fistbump: We'll definitely meet next year!
     
  25. amp0193
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    amp0193 Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    [​IMG]
     
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