Fastlane advice for my 18 year old son??

[TedM]

I'm sitting here with my (almost) 18 year old son, and we are discussing what he wants to do. His mind has been poisoned by his father's ranting about Fastlane (not yet successful, mind you).

We've discussed college or the local equivalent of Junior College as a way to get basic skills. I'm advising him to do a course, or degree in something that interests him - as a way of getting used to the structure of learning/preparing/testing and then moving on. Also, frankly, I am working my FT job in addition to my FL startup and the rest of the family - I just don't have the time to really mentor him the way I'd like to, at this point.

So - I am asking the community here for some advice: my son is very smart, disciplined in what is important to him, and a hard worker. And, as I said, his mind has been poisoned by FL thinking.

What would you all recommend/suggest?

 

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[jon.a]

Has he read the book? What was his response?

 

[TedM]

Has he read the book? What was his response?

Yup. And he loved it.....

 

[jon.a]

I don't understand this statement?

And, as I said, his mind has been poisoned by FL thinking.

 

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[Jake]

Not sure what you're looking for. The obvious answer is to build his own business. If he has a chance at obtaining in U.S clearance making a run at Afghanistan could be a secondary option but time has pretty much run out on that.

Run with the "poison"

 

[TedM]

I don't understand this statement?

I meant it in a joking way.

 

[Vigilante]

Ted.

Food for thought.

I want my kids to have experience working for someone else.

Let someone else pay them to learn... as long as you reinforce to them what they should be learning while they are working for someone else.

Business practices. Management practices. Wins. Losses. Business process. Customer relations.

Let someone else pay for their education. Not all 18 year olds are ready to own a business, but nearly all 18 year olds are capable of drawing Fast Lane life lessons from working in just about any job.

I was fortunate enough to have some large companies pay me to learn lessons on their checkbook that would have sunk me on my own.

My vote, if there is not a clear cut path towards a fast lane success today, is get him to go out into the world, experience some hard knocks and work in a job --- almost ANY job --- and that will better equip him to understand how to blaze his own path later on.

My 21 year old daughter runs a business. My 19 year old son does not. My 21 year old daughter is also interested in the "family" business. My 19 year old son is not. They both get fast lane concepts. They both will be successful. They both will be driving their own destiny. They're two separate people, taking two separate approaches towards learning how life works.

Both will get there some day. My hope is your son does as well. There almost has to be some degree of life experience to draw from in order to "get it."

 

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[TedM]

Not sure what you're looking for. The obvious answer is to build his own business.

Right. I'm just thinking about structure and the "how-to"s of it.

But, that helps clarify my questions:
he needs a structured environment...he is just not at an age when he can do it on his own...by himself. hmmm....

 

[Aivix231]

Hey

Nice to see young people getting into bussiness world
Im 19 years old and i started internet marketing at 16 i guess, and till this day im learning and doing it, not really on fastlane, but i do make more then people who work on 9-5, and i just graduated from high school and barely, almost got kicked out for bad grades, because i though school sucked big time and didnt went there.

Anyway, maybe he want to start internet marketing ? Internat has made a lot of millionaires

 

[smarty]

My 21 year old daughter runs a business. My 19 year old son does not. My 21 year old daughter is also interested in the "family" business. My 19 year old son is not. They both get fast lane concepts. They both will be successful. They both will be driving their own destiny. They're two separate people, taking two separate approaches towards learning how life works.

Congrats for being an awesome Dad here!

 

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[jon.a]

I'd recommend a job and some minimal schooling for now.

Almost any job. Although, one in a field that he's interested in would be nice. He'll get...

Some folding money.
Some experience in the work force.
Maybe learn to dislike working for someone else's dream.
Working for the man for a little while won't hurt him.

Only the basics for education, especially if your going to pay for it.
For the time being maybe one course each in...

Accounting
Sales
Marketing
Operations
Management
Human Resources
Banking
Finance

He's 18, don't forget that he needs a little fun too
I liked Brit chicks at that age.

 

[goodfella]

I would recommend he goes to college since its not always about the education but networking with people. You can sometimes make valuable connections throughout college/university which can come in great use when starting your own business. Plus it'll give him an option to get a good paying job if he needs it to fund his business ventures.

 

[DeletedUser2]

Let someone else pay them to learn... as long as you reinforce to them what they should be learning while they are working for someone else.

THIS,

is the best advice you could hand to your son.

after he is tired, and REALLY frustrated, he will be better equipped to go after a biz.

I was not ready for a business at 18. but I thought I was. around 21 I did it. and it took off from there. a couple years of working for the "man" really helped motivate, and educate me.


Z

 

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[DennisD]

I would recommend he goes to college since its not always about the education but networking with people. You can sometimes make valuable connections throughout college/university which can come in great use when starting your own business. Plus it'll give him an option to get a good paying job if he needs it to fund his business ventures.

I made valuable connections but it's dangerous to assume college just gives you the option to "get a good paying job". Used to be the case, Out of the 500 people I keep in touch from my time in college, only 5 of them were able to land a job.

OP:
I read my first business book when I was 15. I started working for myself doing freelance/consulting when I was 18 while I attended college. At 21 I was offered a job, at 23 I lost that job. I spent the next 2 years building a 40-50K income and then losing it all to mistakes, multiple times.

I am 25 right now, earning nothing. It's tough, but I'm building something and learning things the hard way. I'm now realistically 5 months away from six figures of reliable income (100% under my control) and 30 months away from my first million.

What would I have done differently? I would have worked for a successful entrepreneur sooner. I'm only now approaching successes and asking for help, asking for advice, and following the advice they give exactly. Up until now I've always though "I can't do my own thing and be fine". Yes, I'd eventually be fine, I'm sure of it... but it's difficult to keep working steady on a long-term project when you have no food.

Being where I am now, I will make a suggestion to your son based on the path I wish I had taken:
-Seek out the most successful person you can, and work for them for free. Become their best friend, trade your time for their guidance. The hard work will prepare you for the hard work of starting a business and the advice will be better than the advice from any book.
-Take advantage of your parents hospitality as long as you can. It's a lot harder to build a fortune when you have to continuously take money out of your business to pay for food, rent, internet.
-Do things the hard way. If you want to learn marketing, write out good copy longhand in a journal. If you want to learn programming, don't copy and paste... but build something from scratch. The best way to learn is to deconstruct as much as possible and learn from the ground up.
-Don't trust anybody else. Don't count on your 'big break' to come because you hired an excellent programmer. Don't count on some big affiliate to sell things for you. Don't count on your excellent partner to be great at their job. If you can't guarantee 100% that YOU will make things happen, then they won't happen.

Good luck.

 

[Sir Ingenious]

I'm 25 years of age now.

I'm at the brink of quitting my job (this is my last week of employment).

After about 5 years of college between the ages of 18-23, I embarked on a journey of being employed.

And being in the real world.

After about 3 months of looking for a job online after I graduated from college, I found one in Manhattan NYC at a mobile gaming company.

Thought this was it. I was happy as hell and my head was held up high and my ego was filled.

"Damnit, I'm gonna make it. I have a job in NYC! Hell yeah!"

Well, reality set in. I entered the "real world". Every day at my job, I was having my ideas and my creativity approved (or disapproved) by a committee. I was told what to do, did what I was told, etc. I was paid barely above 40k per year. No way I can even survive in NYC on this salary. Is this it? Is this the golden ending for completing college? It killed my motivation bit by bit everyday. I hated it by the time it was Christmas.

Got laid off in 3 months after getting my job. Budget cuts. And all I got was this very Macbook and the last paycheck as severance package. That's it. Whatever. But the strange thing was... I was a little relieved.

So, I was unemployed for 4-6 months (right here, I discovered TMF and read it out of sheer frustration. "If no one was going to hire me, I should create my own damn job. But how?") and finally got another job at a nonprofit agency. The job itself was for the greater good and satisfying but the nonprofit agency is ran like a machine, a really, really well-oiled machine. I am paid barely above minimum wage, many employees and employers aren't people that I want to be associated with and the work is really laborious and thankless on some levels = a less than ideal job. Really, really hate it.

So I now get the feeling that I NEEDED my experience that I've collected between the ages of 18-25 in order to execute my business that I am about to run. I am fueled, have a sense of purpose and all the knowledge to get started.

My parents think I'm crazy for "throwing away all that education" to start a business.

"But you should get a job that you got your degree in!"

I needed to channel my mind from the past and towards the future, where we don't need roads (that last line in BTTF movie holds more significance than ever, haha).

Anyways, I'm just speaking from experience.

And experience and a rough break into the real world is what I needed.

Now, I'm ready to blaze a path towards a direction where there's no roads.

See you guys in 2015.

 

[100k]

Tell him to become an apprentice in some internet marketing agency !

Good Online Marketer = Sell anything (eventually sell your own products) = Make millions!

 

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[TedM]

First, let me thank all of you who took the time to share your well considered thoughts and experience. I really appreciate your time and am eager to share your responses (and others that may come in) with my sone.

Let someone else pay them to learn... as long as you reinforce to them what they should be learning while they are working for someone else.

This is what I was trying unsuccessfully to articulate to him. Thanks for making this real clear.

I'd recommend a job and some minimal schooling for now.

Almost any job. Although, one in a field that he's interested in would be nice.

Completely agree. Thanks.

I was not ready for a business at 18. but I thought I was. .

I think that's where we are now. I am suggesting that for the summer he knock on doors and offer his gardening services. I think the ability & confidence to sell face to face is the single most important skill he can get now.

Being where I am now, I will make a suggestion to your son based on the path I wish I had taken:

Thanks for sharing your experiences (and much success to you)

So I now get the feeling that I NEEDED my experience that I've collected between the ages of 18-25 in order to execute my business that I am about to run. I am fueled, have a sense of purpose and all the knowledge to get started.

Also thanks for sharing your experiences (and much success to you as well)

Tell him to become an apprentice

Great idea - I like the term "apprentice" much more than "intern" - very powerful connotations.

 

[Milkanic]

I think that's where we are now. I am suggesting that for the summer he knock on doors and offer his gardening services.

This. Selling door-to-door during my college summers was the best education I ever received.

I sold for Southwestern Advantage | School is Just the Beginning for 4 summers and highly recommend it.

 

[1PercentStreet]

Ask him what he wants out of life.
Have him think about.
Give him 48 hours.

After 48 hours, have him tell you what he wants.
Then you tell him, "Just F*cking do it.".



Okay, maybe a little harsh but I think it's awesome he has a dad that wants him to be fastlane!

 

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[MMatt]

Well I am not a father, but I have been an employee ever since I graduated. All I can advise you is that if he gets a job, he will learn the true motivation behind entrepreneurship. That verbally abusive, miserable boss on a power trip, that hour long commute, working in non desirable weather conditions, waking up at the early hours of the morning, having life controlled by a clock for eight hours a day, changing your night and social life because you have to wake up early for work, putting thousands of miles on car to make money to buy another car, the lack of fulfillment and accomplishment from building someone else's dream as your life passes by, having the thought that maybe your retirement isn't as secure as they would like you to think, the dwindling thought that you could lose your lifeline at any given moment. These are a some tough lessons not learned in school or in the process of building a business. If these are aches and pains he shares, then entrepreneurship is likely a valid path.

 

[Ron]

Three of my children are over 18 and only one has ever asked me for career advice. So first, good for you that he's even considering your advice!

I agree with much of what others have said and would add this - what do you wish your parent had advised you at 18? And what from your career can you share with him to give him perspective? What are your stories? Tell him. If you got frustrated at a job. Or had an unreasonable boss. Or went through a merger. The promotions, the demotions. The job search process. Let him know what you went through and why you want it to be different or better for him.

College? Maybe. My adult children all went or are now in universities. But their debt, and mine from the loans are burdensome, as MJ discusses in his book. My latest graduate regrets going because of the money and lack of real world applicability of his studies and tells me this all the time. My oldest, on the other hand, needed the degree because her passion is social work. So it depends but I wouldn't automatically say yes, go.

Besides that, I encourage my adult children to travel. Before they get "tied down" with a significant other and children. Seeing other places not only widens their perspectives but also might give them ideas for a future FL business.

 

[Daniel A]

I read through a lot of the other answers and really liked what I read. It's great to see the advice of people just a bit older then myself.

I'm 19 years old but my 20th birthday is just around the corner. I went to college for 3/4 of a school year then left. When I left I did a lot of reading, watching videos, etc on my own.

I feel like I have absorbed a lot of useful information and I am taking action on some of it right now, but I feel like I am not ready for having my own business yet. I was also able to talk to A LOT of people with various backgrounds and life experience...all of that helped me out so much! I am marketing for another company right now and I believe that it will pay for years to come. It is a means to an end, not the end...or just the start of my journey really.

I have a plan sort of mapped out in my mind right now, I just posted saying that I will write it down in another thread...once I do that I'll let you know more about it.

Let me write out my plan, and then I will post the link to the thread I will create. I feel pumped, I feel like I have real direction now...I need to work out right now too haha. Stay tuned for my plan and you can probably tell your son to do some of the same things

 

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[TedM]

Wow - thank you all again for sharing your thoughts. The response has been more fruitful than I expected.

My son (who is my 4th boy, BTW) really enjoyed and appreciated everything you all wrote. My wife, who is a bit of a skeptic in these matters of forums, etc - was really impressed.

Certainly my personal focus in the last years has been reinforced by experiences similar to MMatt's: working in IT and seeing/experiencing downsizing and the like - that have nothing to do with my personal performance - is what pushes me down the FL path while working a FT job and taking care of a large family and doing all the other things that I do.

And for that reason - all my kids have heard from me - starting your own business is the safest way to go, in the long run, and starting it young is the best time, since your responsibilities are fewer.

The main takeaways for us:
Get some basic formal business education - that is focused on helping you.
Apprentice to someone you can learn from - give time for free & get some good training/exposure.
Keep focused on the FL - and look for opportunities.
When you're ready, you'll be ready.

 

[JBenvenuti]

If I could be 18 again I would.....

-go away to a 4 year college.
-study basic web design, public relations, marketing, and business.
-Have a gym membership and eat healthy.
-Join a fraternity. Hit on girls shamelessly.
-hang out with people who are open minded, positive, creative, social, and disciplined.
-Read the Millionaire Fastlane , Read "Arnold Schwarzenegger's Encyclopedia of modern bodybuilding", listen to "lessons in mastery" by Tony Robbins, and watch Jim Rohn - Best Life Ever (full length) on youtube.


Thats a great start to a healthy, socially calibrated, and successful person in all areas of life.