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Hrn192

New Contributor
Feb 2, 2021
3
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Hi guys!
I recently dropped out or rather failed my college degree ... I'm only 19 without a college degree , without money, living with my parents. I don't know what to do now, I want to start a business but I have no knowledge. if I'm posting here it's because I need advice on what to do next!

thank you so much
 
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ZF Lee

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Hi guys!
I recently dropped out or rather failed my college degree ... I'm only 19 without a college degree , without money, living with my parents. I don't know what to do now, I want to start a business but I have no knowledge. if I'm posting here it's because I need advice on what to do next!

thank you so much
Check out the Side Hustle section for some ideas on freelancing to start up some income and learn some business skills:

BTW, what was your degree? And how did you fail out of it?
 

Eridius

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Nov 22, 2020
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May consider side hustles first for first few months, like 6-12 months and learning simultaneously?

That being said, that sounded impulsive. Nonetheless, if you don't know what to do, I suggest spend first few months or first year learning, researching while side hustling & saving for capitals.

Good luck.
 

Hrn192

New Contributor
Feb 2, 2021
3
1
Check out the Side Hustle section for some ideas on freelancing to start up some income and learn some business skills:

BTW, what was your degree? And how did you fail out of it?
Computer engineering, I failed because of lack of interest. I wasn’t studying (yes its my fault), I live in France Btw.
Thanks for your help :)
 
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Hrn192

New Contributor
Feb 2, 2021
3
1
May consider side hustles first for first few months, like 6-12 months and learning simultaneously?

That being said, that sounded impulsive. Nonetheless, if you don't know what to do, I suggest spend first few months or first year learning, researching while side hustling & saving for capitals.

Good luck.
Thank you for replying!
What do you think about dropshipping ?
 

Mathuin

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Thank you for replying!
What do you think about dropshipping ?

I think it's quite over saturated. That is if you are referring to opening a Shopify store, loading it with products off AliExpress, running FB Ads to it and shipping to customer with 2 week ship time. I think there would be better paths to take. I'm not much older than you (21) but my advice would be to focus on the long term and focus on something that you can provide relative value to the world. I believe that would significantly increase your odds of success.

I will give you a personal example. I originally tried drop shipping for a number of niches at 17 (was net negative overall), then tried MLM for a bit as I was working for the MLM company(negative P&L) , then I got sucked into Forex trading learning from an MLM (IM Academy, previously iMarketsLive). I listened to all the "Gurus."

During this time, I had wanted to learn to code as I had studied Software Engineering in High School for a little bit before leaving for military. I had originally purchased my Software Dev course in Nov 2017 for £12 but didn't stick with it and tried to go for the "quicker" business models first. I traded for close to 2 years (2018-2020), and just couldn't get it to work. My mentor who I had sent $2.5k for "mentoring" taught me nothing I had taught myself for free online.

During this entire time, I was thinking about "What could make me $x in x months", when I regret not sticking with learning to code and focusing on the long term. The same thing also happened my father who has been sucked into the whole "Make Money Online" industry for over a decade since the Housing Crisis of 2008. He constantly switched business models and tried everything. Now in his 50's, he's starting another low barrier to entry business. Thankfully, he has a full time job this time.

After discovering MJ's content (halfway through TMF and Unscripted is being delivered tomorrow), I knew focusing on Software Dev and being able to have a business that actually provided value to people would improve my chance of success, instead of listening to MMO Internet Marketers and trying to sell people sh1t.

This is why I am now learning Web/ Software Development. Especially after listening to @MJ DeMarco on Bulldog Mindset's podcast, were he said if he was to go back and do it all again now, he would focus on Software Dev as it allows you to create value for others through computers.

I wish you all the best dude :)

P.S Make sure your long term business follows the CENTS Framework
 

MJ DeMarco

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Hi guys!
I recently dropped out or rather failed my college degree ... I'm only 19 without a college degree , without money, living with my parents. I don't know what to do now, I want to start a business but I have no knowledge. if I'm posting here it's because I need advice on what to do next!

thank you so much

Why would you do this without a plan in place? It doesn't seem wise.

What do your parents think??
 
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Empires

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Hi guys!
I recently dropped out or rather failed my college degree ... I'm only 19 without a college degree , without money, living with my parents. I don't know what to do now, I want to start a business but I have no knowledge. if I'm posting here it's because I need advice on what to do next!

thank you so much
What you need right now is not to start a business. You need to figure out what you want to do with your life.

Starting a business isn't going to solve your problems.

Sit down and take the time to figure out what you want to do. Really think about it. And I don't mean "have a million dollars" or "be rich". Nothing generic.

Do you want to travel the world and work remotely? Great, then work backwards from that goal and figure out what it will take to get there.

If you just "start a business" with no intentions you are just going to end up at some random point in life that you didn't plan to that may be no better than where you are at now.
 

Eridius

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Nov 22, 2020
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What you need right now is not to start a business. You need to figure out what you want to do with your life.

Starting a business isn't going to solve your problems.

Sit down and take the time to figure out what you want to do. Really think about it. And I don't mean "have a million dollars" or "be rich". Nothing generic.

Do you want to travel the world and work remotely? Great, then work backwards from that goal and figure out what it will take to get there.

If you just "start a business" with no intentions you are just going to end up at some random point in life that you didn't plan to that may be no better than where you are at now.
I like this reply, it is a really meaningful advice as I can resonate with this.

I dropped out my last college's quarter this January in order to start my venture; but because I had a solid 6+ months of contemplating myself, my long-term visions and my plan in grand scale, prepared for all the risks and the possible outcomes before I grew some balls and took the risks.

Regards to OP, excuse if this sounds like an idle gossip: OP was too impulsive and was unwise to made one hasty decision that could potentially stuck in a feedback loop of future decision-making that would make him make reckless, absurd and detrimental choices again.

Other than that, OP definitely should spend a period of time meditating on his purposes and grand visions before doing anything big, while executing small actions toward entrepreneurship & learning.
 

Christopher104

Contributor
Oct 27, 2020
84
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Hi guys!
I recently dropped out or rather failed my college degree ... I'm only 19 without a college degree , without money, living with my parents. I don't know what to do now, I want to start a business but I have no knowledge. if I'm posting here it's because I need advice on what to do next!

thank you so much
This is how an entrepreneurs story goes:

1. A problem or inconvenience has risen and has not been taken care of yet.

2. Entrepreneur takes notice.

3. Entrepreneur creates a game plan for solving the issue.

4. Entrepreneur gets to work.

5. Entrepreneur bust his a$$ day and night, fueled by his motivation.

6. The lust and excitement of the entrepreneur's idea wears off.

7. Entrepreneur denies the temptations of everyday life to honor his idea.

8. Entrepreneur works for months and months on end and the idea isn't even close to being ready.

9. Entrepreneur goes through many stages of fear and uncertainty and wonders if he is wasting time.

10. Entrepreneur goes outside and wonders why he should keep going.

11. Entrepreneur concludes that there is no alternative, and if he gave up he would die a broken man.

12. Entrepreneur goes back inside and continues to bust his a$$ once more.

13. The habit of sitting down and working becomes natural for the entrepreneur. If he did things like watch tv or play video games, it wouldn't feel right at all for him.

14. Because the entrepreneur has learned to enjoy the process and relish in the work, two years passes in the blink of an eye. And his invention is ready to be pitched.

15. Entrepreneur pretends that more improvements can be made because he is scared of how the world will perceive his creation.

16. Entrepreneur realizes that he is action faking and must take this risk. He hasn't come all this way for nothing.

17. Entrepreneur contacts ten retail chains. nine of them saw no potential in his product. But one little supermarket see's the beauty in what he has created.

18. Entrepreneur and retailer get in touch with a manufacturer who can replicate the entrepreneur's prototype.

19. Entrepreneur crosses his fingers and hopes his time wasn't wasted for nothing.

20. Entrepreneur does very poorly with sales in the first six months. He is very broken.

21. Entrepreneur contacts a business consultant, hoping to find the answers he needs.

22. Business consultant smacks the sad entrepreneur across the head when he realizes that he has done absolutely nothing in terms of marketing.

23. Business consultant contacts four teams people:
-a team of programmers to build an affiliate marketing program and an online retail presence.
-a professional photographer to get the best and cleanest photos of his product.
-an advertising agency to get the product in the ears/eyeballs of many.
-a graphic designer to create the brand logo and slogan.

24. Entrepreneur's product blows up. he sells 300,000$ worth of units in just one month.

25. The big retail stores that once denied his invention contact the entrepreneur, apologizing for their "misinterpretation".

26. Entrepreneur sells to more and more stores, and becomes a billionaire within just three years.

27. a DOW 30 company offers to buy the rights to the invention for 30 billion.

28. Entrepreneur accepts the buyout option.

29. Entrepreneur and the next generations of his family will never have to work a day in their lives.

Notice the amount of risk and time the entrepreneur had to go through before he even saw a cent of profit?

you seem like you are anxious to start making money in a business and I don't blame you. The world makes it super easy to spend money but will put obstacles in your way if you want to make some.

what you need to do is find a problem and work your a$$ off to solve it. It isn't going to be done through drop shipping or any other "just add water" business ideas. You need to be constantly paying attention to what can be improved around you. How you can do this is perfectly explained in MJ's books. best of luck to you bud.
 
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Johnny boy

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I did the exact same thing.

1. I then sold cars and hustled. I saved everything while living at home.

2. I started a lawn care company. I signed up customers on year-long contracts and hired workers.

3. Couple years later and now I've got a couple trucks, employees doing the work, and I've got more money and free time than my friends and make more than my parents. I live on a lake. 24 years old.
 

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