Fastlane by 18 Years Old

[Kallin Trotman]

This thread will be a log of what it takes for me to make a fastlane by the time I am 18.
Hopefully there are people out there that will benefit from reading this.

Feel free to ask any questions.

I would like you all to criticize with the harshest possible feedback.



Opening Notes:

• I am in Australia, however all monetary denominations will be is US dollars.
• I have a small amount of cash, I expect this business to take all of it. If I run out I will get a job to fund it.
• I go to school.
• Up to this point I would estimate that I have directly spent about 150 hours on this. From this point on I will track the time it takes.


My business will offer a single digital product which will be sold for around $30.

The Commandments

Control: It is mine. I can run it. It will not be reliant on any other source.

Entry: It has taking me years to learn what is in the product. No one can mimic it without extensive experience in the field.

Need: Problem - This is one of the most common problems people have and it seems most cannot solve it themselves.

Time: Everything is detached from my time except one segment of the business, which I plan to quickly change once money is flowing.

Scale: Massively scale-able except for the one flaw mentioned above which will be changed.
Has the ability to effect millions.

Competition: Not mass marketed effectively, holes in service, My brand can outperform these.

Major Goals: Change the life of hundreds of thousands and make myself rich in the process.
First Monetary Goal: Make $1,500 per week by 18th birthday. (June 16th) 61 Days.

Progress So Far:


Promotional video completed

Web Hosting sorted
Domain secured

Product 75% completed 


Costs So Far:

• Promotional video voice-over $55
  
• Software $52


Tasks:


• Complete product
• Complete website
  
  • Not sure the best way to go about this, spending a lot of time working it out.

• Set up Payments platform
• Get with account to set up company ($1150)

Time to get back to work.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[JoeB]

I would like you all to criticize with the harshest possible feedback.

Hey,

It's hard to give any constructive criticism as there isn't really much detail about what you are actually doing but it sounds like you have a plan.

One thing there is no mention of though is sales or promotion.

Are you building up any contacts, creating a social media presence, testing ads and building a list for when the product is ready?

 

[Kallin Trotman]

Are you building up any contacts, creating a social media presence, testing ads and building a list for when the product is ready?

Thanks for the reply.

Right now I am setting up a squeeze page as part of the website that will allow people to opt in to get a twice weekly email where I give them tips and stories relating to the product.

Update:
Set up Instagram account, this will send people to the squeeze page.

 

[JoeB]

Update:
Set up Instagram account, this will send people to the squeeze page.

Good stuff.

Depending on your product I would also suggest Adwords.

Having people who are actively searching for your product be able click directly through to your chosen landing page give you all kinds of benefits.

See how uses interact with you page
Split-test headlines, offers, copy
Achieve highest conversion and ROI

Sending traffic from instagram/facebook/twitter is a lot more effective once you know your page converts and is optimised.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[gostorm21]

Congrats on making the decision and actually putting in some work!

You list one of your tasks as setting it up as a business, which is pretty expensive. I don't know about the regulations in Australia, but unless they're really strict I'd hold off on making it "official" until you actually have money consistently flowing in. On one of my first tries I overly-ambitiously filed my company as a first step...which then proceeded to make $0 in sales! If at all possible, take that money and use it to get traffic (and sales!). Then worry about paperwork. Best of luck!

 

[Ninjakid]

I have a small amount of cash, I expect this business to take all of it. If I run out I will get a job to fund it.

This is probably the worst way to fund a business. You're scraping by putting your hourly wage into your business with a baby spoon, meanwhile someone else is sitting on a stockpile of cash to give every part of their business the best treatment.

 

[Kallin Trotman]

Depending on your product I would also suggest Adwords.

Good suggestion. I just read through Andy Blacks threads, I will be using adwords.

Congrats on making the decision and actually putting in some work!

You list one of your tasks as setting it up as a business, which is pretty expensive. I don't know about the regulations in Australia, but unless they're really strict I'd hold off on making it "official" until you actually have money consistently flowing in. On one of my first tries I overly-ambitiously filed my company as a first step...which then proceeded to make $0 in sales! If at all possible, take that money and use it to get traffic (and sales!). Then worry about paperwork. Best of luck!

Thanks for the input. I will look at the regulations, you may be right.

This is probably the worst way to fund a business. You're scraping by putting your hourly wage into your business with a baby spoon, meanwhile someone else is sitting on a stockpile of cash to give every part of their business the best treatment.

I can execute better.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Ninjakid]

I can execute better.

As in you have a plan to extend your business to have a reach a larger scale with a small amount of money, or you imagine yourself having a better outcome than someone else?

 

[Kallin Trotman]

As in you have a plan to extend your business to have a reach a larger scale with a small amount of money, or you imagine yourself having a better outcome than someone else?

Regardless of how much money the competition has put into this niche there is a gap that they have not filled. This will be the products major selling point.
Also much of their marketing seems outdated, the only way I can find the products they offer is by going to a site like clickbank and searching through the back way as an affiliate marketer would to find something to sell.

 

[MrOrigon]

I always think it's interesting that some people on here assume that it's impossible to start a business on a shoestring budget.

Especially considering his business is a digital product that will be marketed online, I think it's viable. Will he be successful? Too many factors to tell, maybe his product isn't any good. I just feel like the idea that a business is doomed from the start without a healthy budget is bogus.

It's called bootstrapping, and a great read is "The $100 Start-Up". It's possible to start a 6-figure business on less than a grand. Look at most successful blogs.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kallin Trotman]

Update:

Days Left: 59
Time Spent On Business: 164 Hours
​

Have spent the last two days on the website and setting up a payment platform.

Had a small lesson learned as I have moved to Wix to build website. Wix requires Wix hosting, which will make my previous hosting be left unused for 6 months.

Tasks Until Next Update:

• Complete Product
• Complete Website

Costs So Far:

• Promotional video voice-over $55
• Software $52
• Original Hosting $92
• Wix Premium $10.95

Tips:

• If making a website, don't fall for WordPress hype.
  It seems WordPress gets much more publicity than the other options. Just make sure to explore alternatives.

• Try working with a stopwatch. Create more urgency.

• Anyone doing any Copywriting read this thread. https://www.thefastlaneforum.com/co...e-money-copywriting-in-15-days-or-less.59465/

 

[Ninjakid]

Regardless of how much money the competition has put into this niche there is a gap that they have not filled. This will be the products major selling point.
Also much of their marketing seems outdated, the only way I can find the products they offer is by going to a site like clickbank and searching through the back way as an affiliate marketer would to find something to sell.

If you can sell and not rely on affiliate shit like clickbank, you'll definitely look more professional

 

[Kallin Trotman]

More process needed.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[DaRK9]

I always think it's interesting that some people on here assume that it's impossible to start a business on a shoestring budget.

Especially considering his business is a digital product that will be marketed online, I think it's viable. Will he be successful? Too many factors to tell, maybe his product isn't any good. I just feel like the idea that a business is doomed from the start without a healthy budget is bogus.

It's called bootstrapping, and a great read is "The $100 Start-Up". It's possible to start a 6-figure business on less than a grand. Look at most successful blogs.

It's not that it's impossible, but right now it's unnecessary to boot-strap. There is crazy money flying around right now.

For a single e-product borrow it if you think it will work. Payday, family, ask your neighbors.


Money + execution = speed.


Finish your product first.

 

[JokerCrazyBeatz]

I hope everything works out for you , but just know that if things don't happen in the time you expect keep going

 

[MJ DeMarco]

This thread will be a log of what it takes for me to make a fastlane by the time I am 18.
Hopefully there are people out there that will benefit from reading this.

My friend, you are already IN the Fastlane.

Fastlane is not some arbitrary sum of money. It's not passive income while sitting on a beach. And it's not retiring at 30. Fastlane at its core is a mentality. And as soon as you obtain that mentality, you are in the Fastlane.

So as long as continue your entrepreneurial pursuits, even if you fail this venture or the next, you CONTINUE. This is something that is lived, not tried. The money comes later as a result of living it.

Just want to make that clear!

Good luck.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Fox]

My friend, you are already IN the Fastlane.

Fastlane is not some arbitrary sum of money. It's not passive income while sitting on a beach. And it's not retiring at 30. Fastlane at its core is a mentality. And as soon as you obtain that mentality, you are in the Fastlane.

So as long as continue your entrepreneurial pursuits, even if you fail this venture or the next, you CONTINUE. This is something that is lived, not tried. The money comes later as a result of living it.

Just want to make that clear!

Good luck.

[HASHTAG]#postoftheday[/HASHTAG]. Can you put this on the front page gold post section? Great advice for everyone starting off on here.

 

[Deceiver]

My friend, you are already IN the Fastlane.

Fastlane is not some arbitrary sum of money. It's not passive income while sitting on a beach. And it's not retiring at 30. Fastlane at its core is a mentality. And as soon as you obtain that mentality, you are in the Fastlane.

So as long as continue your entrepreneurial pursuits, even if you fail this venture or the next, you CONTINUE. This is something that is lived, not tried. The money comes later as a result of living it.

Just want to make that clear!

Good luck

THIS! I needed to hear it.

As a Young Noobster I always fell in this "mental trap" and kept thinking to myself "Damn, I'm nowhere near The Fastlane" and end up feeling frustrated LOL

 

[Ubermensch]

My friend, you are already IN the Fastlane.

Fastlane is not some arbitrary sum of money. It's not passive income while sitting on a beach. And it's not retiring at 30. Fastlane at its core is a mentality. And as soon as you obtain that mentality, you are in the Fastlane.

So as long as continue your entrepreneurial pursuits, even if you fail this venture or the next, you CONTINUE. This is something that is lived, not tried. The money comes later as a result of living it.

Just want to make that clear!

Good luck.

Huh.

Never realized this til' now.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[21elnegocio]

Very true what @MJ DeMarco said, I need to learn this CEO and adwords stuff. I have so many things I would like to try and sell online. I know a guy making a few thousands a week by only selling stuff from clickbank.


Much success to you kid @Emperor2020 you will make it pal !

 

[MakeMoreMoves]

My friend, you are already IN the Fastlane.

Fastlane is not some arbitrary sum of money. It's not passive income while sitting on a beach. And it's not retiring at 30. Fastlane at its core is a mentality. And as soon as you obtain that mentality, you are in the Fastlane.

So as long as continue your entrepreneurial pursuits, even if you fail this venture or the next, you CONTINUE. This is something that is lived, not tried. The money comes later as a result of living it.

Just want to make that clear!

Good luck.

Lol perfect

 

[TheGrind]

Update:

Days Left: 59
Time Spent On Business: 164 Hours
​

Have spent the last two days on the website and setting up a payment platform.

Had a small lesson learned as I have moved to Wix to build website. Wix requires Wix hosting, which will make my previous hosting be left unused for 6 months.

Tasks Until Next Update:

• Complete Product
• Complete Website

Costs So Far:

• Promotional video voice-over $55
• Software $52
• Original Hosting $92
• Wix Premium $10.95

Tips:

• If making a website, don't fall for WordPress hype.
  It seems WordPress gets much more publicity than the other options. Just make sure to explore alternatives.

• Try working with a stopwatch. Create more urgency.

• Anyone doing any Copywriting read this thread. https://www.thefastlaneforum.com/co...e-money-copywriting-in-15-days-or-less.59465/

What's wrong with Wordpress? It's much better than Wix.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kallin Trotman]

What's wrong with Wordpress? It's much better than Wix.

There is nothing wrong with Wordpress. Wix suits the purpose of this site.

 

[Kerin]

From one Aussie to another, good luck! I admire you for finding a gap and actually getting off your butt and doing something about it. Especially at such a young age. You will go far, keep up the good work.

Progress update?

Also, if you are looking to start a company it shouldn't cost you more than $400 or so.

 

[Kallin Trotman]

From one Aussie to another, good luck! I admire you for finding a gap and actually getting off your butt and doing something about it. Especially at such a young age. You will go far, keep up the good work.

Progress update?

Also, if you are looking to start a company it shouldn't cost you more than $400 or so.

Thank you. There is a AUD$457 ASIC fee, then additional if I am to get the assistance of an accountant. Sounds like you have experience in setting up companies?

Just give me a couple of days on for that progress update, things are about to get rolling.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kerin]

Thank you. There is a AUD$457 ASIC fee, then additional if I am to get the assistance of an accountant. Sounds like you have experience in setting up companies?

Just give me a couple of days on for that progress update, things are about to get rolling.

There are number of services you can find online that will set the company up for you for under $500 which includes the ASIC fee. We've set up 2 companies so far using these (the prices may have increased a bit since doing so but I wouldn't imagine by much). You just enter in a bunch of information on their website and they take care of the rest. PS. I'm assuming you're wanting a simple, straight forward company set up (ie. no trusts involved etc).

Also.. my personal opinion only -- if you're strapped for cash and your business isn't on the risky side of things you could always just forego setting up the company (for now) and for any income you earn it will just go through your personal tax return (as a sole trader). At a very high level, setting up a company will be the better option for you if you're worried about people suing you (limited liability) and if you think you're personally going to earn more than $37,000 within the financial year (flat 28.5% tax rate for companies).

Looking forward to the update!

 

[kenlee_au]

I am in Australia too, I run an ecommerce business.. All I have done is purchased a business name from ASIC for $30 and run as a sole trader. I will worry about the company when it gets to that point.

 

[Kallin Trotman]

Update:

Finished high-school. Got a job to pay for living expenses and fund my business.

Working. as. hard. as. ever.

As you would see by my earlier post, I greatly underestimated the time needed to create this business. Though like many of you commented, the deeper I progress, the more I see the value of my experience.

My biggest lesson has been to LOVE THE PROCESS. For years I have been so achievement driven, always so focused on the trophy, the next goal. So you the the trophy, the title. Then what?... It was tough for me to learn the fact that finally achieving whatever thing this is wont change everything. CHASING EVENTS WONT BRING FULFILLMENT.

Beginning to hate the business, I was forced to reevaluate, finally making the decision to more emphasis on progress rather than what I don't have.

The product is ready. Now I am making the world know about it.

TIPS THAT MIGHT BENEFIT YOU:

• Keep a simple diary or document stating when services or products are due for their recurring payments.
• See the power in cooperating with others, there are times when you cant do everything alone. Believe it or not...
• There will be times when you feel damn isolated. You are not the only one.
• No amount of books, advice or forums will prepare you. Go and work.
  
• The hundreds of unseen hurdles are part of the game.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[ZF Lee]

[HASHTAG]#postoftheday[/HASHTAG]. Can you put this on the front page gold post section? Great advice for everyone starting off on here.

Wait till sales start pouring in, and this thread will be good to go. And then the Slowlaners will start sweating, once they discover this!

Way to go, @Emperor2020! There's a lots of e-commerce threads here, but you look like you have a trick up your sleeve!

 

[dave773]

Hey great progress thread! it's great to see a fellow australian on this forum. Probably the best forum I've ever come across. Keep going at it, the only way you fail is by giving up!