How I can start?

[PakooyValise]

Starting from the beginning, I’m 17 and I’m on self-improvement for over half of the year. I’ve recently read a Millionaire Fastlane book and I found it very valuable, but tbh I don’t know how to apply things in this book to my life, especially when it comes to money topics. One of my biggest dream is to achieve financial and location freedom and be able to work on things that really matter to me.
So how I can start? On what should I focus on?

 

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[DustinSaucier]

Starting from the beginning, I’m 17 and I’m on self-improvement for over half of the year. I’ve recently read a Millionaire Fastlane book and I found it very valuable, but tbh I don’t know how to apply things in this book to my life, especially when it comes to money topics. One of my biggest dream is to achieve financial and location freedom and be able to work on things that really matter to me.
So how I can start? On what should I focus on?

Start with what it sounds like you're doing: invest in yourself. You've read The Millionaire Fastlane . Now read The Great Rat Race Escape , and Unscripted . Then, search in this forum for books recommended by those who've accomplished what you strive for. While investing in yourself, start finding people with a need/want that you can ADD VALUE to them. Solve a problem. It must be ACTUAL value and NOT just perceived value. Perceived value may "get you in the door," but actual value will keep you there. Actual value is simply: you offered to solve "x" problem (perceived value), and then you actually deliver on that solution. But don't just deliver, deliver ABOVE what you offered.

I don't know your situation, but I'd imagine that at 17 you probably have plenty of time on your hands with little to no responsibility or bills (correct me if I'm wrong). Man... HARNESS THAT SHIT! Read, study, grow! And while doing that, find someone in your neighborhood or family that needs a solution to a problem. Solve it! Find pain peoples' pain points and come up with a SOLUTION. Here are some ideas that may jumpstart you in this prime time.

>>> People hate dirty stuff, but they also hate cleaning. Trash bins are disgusting? Offer to clean them for a fair price. Windows are dirty? Who has time for that? Offer to clean them for a fair price. Yard needs raking? Offer to do it for a fair price. You have a picture of a sweet car in your photo. Any of those folks need detailing done to their prized cars?

>>> People don't know how to do (or want to do) simple things around their house. Light bulbs need changing? Door handles working funky? Smoke detectors chirping? Cabinet doors offset? A/C filters dirty? Come up with some unique packages to solve these problems for people. Don't know how to do those things? Watch YouTube. None of that requires a contractor's license.

>>> What are you interested in? This could be the long-game approach. Learn it. Coding? Web design? Marketing? SEO-optimization? Building? MJ might crucify me for suggesting you "follow your passion," but it COULD be a place to start for someone as young as you.

>>> Pay attention to what people complain about, even to the smallest degree. Ask them questions. People will tell you exactly what they're looking for if you listen closely enough. Go home, research it, learn, and maybe you become that solution. Or, you may meet people who have the solution. Give them the business. That's networking. It will compound. How?

Because. you. are. helping. people.

Sounds like you are thinking in the right direction, my friend. Listen and learn, and do something about it. I hope that helps a little.

 

[PakooyValise]

Start with what it sounds like you're doing: invest in yourself. You've read The Millionaire Fastlane . Now read The Great Rat Race Escape , and Unscripted . Then, search in this forum for books recommended by those who've accomplished what you strive for. While investing in yourself, start finding people with a need/want that you can ADD VALUE to them. Solve a problem. It must be ACTUAL value and NOT just perceived value. Perceived value may "get you in the door," but actual value will keep you there. Actual value is simply: you offered to solve "x" problem (perceived value), and then you actually deliver on that solution. But don't just deliver, deliver ABOVE what you offered.

I don't know your situation, but I'd imagine that at 17 you probably have plenty of time on your hands with little to no responsibility or bills (correct me if I'm wrong). Man... HARNESS THAT SHIT! Read, study, grow! And while doing that, find someone in your neighborhood or family that needs a solution to a problem. Solve it! Find pain peoples' pain points and come up with a SOLUTION. Here are some ideas that may jumpstart you in this prime time.

>>> People hate dirty stuff, but they also hate cleaning. Trash bins are disgusting? Offer to clean them for a fair price. Windows are dirty? Who has time for that? Offer to clean them for a fair price. Yard needs raking? Offer to do it for a fair price. You have a picture of a sweet car in your photo. Any of those folks need detailing done to their prized cars?

>>> People don't know how to do (or want to do) simple things around their house. Light bulbs need changing? Door handles working funky? Smoke detectors chirping? Cabinet doors offset? A/C filters dirty? Come up with some unique packages to solve these problems for people. Don't know how to do those things? Watch YouTube. None of that requires a contractor's license.

>>> What are you interested in? This could be the long-game approach. Learn it. Coding? Web design? Marketing? SEO-optimization? Building? MJ might crucify me for suggesting you "follow your passion," but it COULD be a place to start for someone as young as you.

>>> Pay attention to what people complain about, even to the smallest degree. Ask them questions. People will tell you exactly what they're looking for if you listen closely enough. Go home, research it, learn, and maybe you become that solution. Or, you may meet people who have the solution. Give them the business. That's networking. It will compound. How?

Because. you. are. helping. people.

Sounds like you are thinking in the right direction, my friend. Listen and learn, and do something about it. I hope that helps a little.

Thanks for advice, I'll try my best. I also have one question. How you can notice that something is a real problem for someone? I mean rn I'm even forgetting about it, I don't pay that much attention to it when I'm talking with someone.

 

[PetitBourgeoisie]

Welcome aboard.

In my experience, the best way of noticing a problem is complaints. And, a better place to find them would be Online, namely Facebook; I'm in Amazon Ecommerce, and I've perused a few FB Groups for my demographic there. Lots of folks accumulate there to commiserate on their miseries. The more people complaining, the more often they complain, the higher you can perceive (unmet) Demand.

After that, it's about imagining up a system, and a plan to build it, that would solve that problem in a profitable way.

This is awesome!

No skills, no prior experience, no problem!

You just picked something, started - without asking too many questions, did the F*cking work, and won. And now you are more successful than 99% of your peers.

It's really that simple!

Or you can just copy what other people are succeeding on to make living. Since they've already confirmed Demand's presence. That's what I did to get this far.

Hope this helps. I'd say this is particularly good forum for Entrepreneurial Insights. I'd encourage you to explore.

 

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[PakooyValise]

Do have some suggestions about which FB groups? I mean on what topics I should aim?

Welcome aboard.

In my experience, the best way of noticing a problem is complaints. And, a better place to find them would be Online, namely Facebook; I'm in Amazon Ecommerce, and I've perused a few FB Groups for my demographic there. Lots of folks accumulate there to commiserate on their miseries. The more people complaining, the more often they complain, the higher you can perceive (unmet) Demand.

After that, it's about imagining up a system, and a plan to build it, that would solve that problem in a profitable way.


Or you can just copy what other people are succeeding on to make living. Since they've already confirmed Demand's presence. That's what I did to get this far.

Hope this helps. I'd say this is particularly good forum for Entrepreneurial Insights. I'd encourage you to explore.

 

[PetitBourgeoisie]

Do have some suggestions about which FB groups? I mean on what topics I should aim?

For that, I can't offer much. Way I see the question, it's mostly about what your own interests are, what your goals are, what your starting circumstances are; as to what goals you should set in general. What market you seek out would be best discovered by first asking what you want to do with your productive potential IMO.

For example, I got into this business at bottom because I had been fascinated in business, commerce, finance, economy etc. since I was a HS Freshman; that's what led me to investigate Ecom in the first place.

 

[DustinSaucier]

Thanks for advice, I'll try my best. I also have one question. How you can notice that something is a real problem for someone? I mean rn I'm even forgetting about it, I don't pay that much attention to it when I'm talking with someone.

Just as @PetitBourgeoisie said, "listen to complaints." Become curious. Ask questions. Be interested in helping people with their problems. As far as your "not paying much attention to it when talking to people," you're the one who must decide to change that. No person can do that for you.

 

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[PakooyValise]

I thought a little and came up with one I think interesting idea. As I go to school, I noticed that a lot of people buy used textbooks. But there is one problem, sometimes it is hard to find good deals with such textbooks. So I had an idea to make either something like a page with links to offers (it would be possible to sort by prices, etc.), or just a store where you can add your books for sale.
What do you think about that?

 

[mkmiller]

The easiest way to find a problem, is to ask yourself about something you constantly struggle with, or have to do repeatedly that you wish there was a different way... and that if there was you would happily pay for it.

Then, you ask around to people you know, people on FB groups that are related (ie.. students, athletes, or whatever)if they have thoughts on the 'problem' after a while you will have your outline.

Then develop the solution, test it out, then sell it.

 

[mkmiller]

I thought a little and came up with one I think interesting idea. As I go to school, I noticed that a lot of people buy used textbooks. But there is one problem, sometimes it is hard to find good deals with such textbooks. So I had an idea to make either something like a page with links to offers (it would be possible to sort by prices, etc.), or just a store where you can add your books for sale.
What do you think about that?

Your idea could have potential, if:

1: You can get it in front of enough people
2: If you can find a way to monetize it, (i.e. for each book sold you get 5%, or something like that)
3: If there are competitors out there, can you do it better

 

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[PakooyValise]

Your idea could have potential, if:

1: You can get it in front of enough people
2: If you can find a way to monetize it, (i.e. for each book sold you get 5%, or something like that)
3: If there are competitors out there, can you do it better

I think there may be a problem with the first point because textbooks are usually bought only once a year.

 

[mkmiller]

I think there may be a problem with the first point because textbooks are usually bought only once a year.

That may be true, and may make it semi seasonal. However, if you can get millions using it once/twice(semesters) a year, you could still have something.

 

[Mikkel]

At 17, you need to try things. A lot of different things. Maybe you get lucky and find what you are good at very early on. That is not the majority of people, however, that is the case for some.

When you try different things, you start to figure out what you are good at and what you are not good at.

I will give you some examples.

When you try Retail Arbitrage, you might learn about the process of sourcing, how Amazon works, small scale distribution

When you try eCommerce Private Label, you might learn about building a website, running ads to your site, sales, sourcing from different countries, regulations, Branding, etc.

When you try a Landscaping Business, you may learn door knocking, sales, systems management, everything Lawncare, managing employees, etc.

If you tried all three of these businesses, hypothetically, you will get introduced to a lot of concepts. Some you will hate, others might intrest you.

Maybe you hate eCommerce but you love the idea of sourcing products and the process of importing and exporting. Then maybe you decide you want to try becoming an importer of raw materials or certain products.

When you try different businesses, you experience different aspects of the business. Maybe you'll like that specific business or maybe you find you like one specific aspect of the business, and you start a whole business around that specific part of the businesses.

 

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[PakooyValise]

At 17, you need to try things. A lot of different things. Maybe you get lucky and find what you are good at very early on. That is not the majority of people, however, that is the case for some.

When you try different things, you start to figure out what you are good at and what you are not good at.

I will give you some examples.

When you try Retail Arbitrage, you might learn about the process of sourcing, how Amazon works, small scale distribution

When you try eCommerce Private Label, you might learn about building a website, running ads to your site, sales, sourcing from different countries, regulations, Branding, etc.

When you try a Landscaping Business, you may learn door knocking, sales, systems management, everything Lawncare, managing employees, etc.

If you tried all three of these businesses, hypothetically, you will get introduced to a lot of concepts. Some you will hate, others might intrest you.

Maybe you hate eCommerce but you love the idea of sourcing products and the process of importing and exporting. Then maybe you decide you want to try becoming an importer of raw materials or certain products.

When you try different businesses, you experience different aspects of the business. Maybe you'll like that specific business or maybe you find you like one specific aspect of the business, and you start a whole business around that specific part of the businesses.

So should I try these 3 businesses?
And apropos of the things I'm good at (at least I think so looking at my classmates and friends) it's definitely IT related stuff. Practically since I can remember, I have been interested in this subject. And also for somehow 2 years, I have been into programming. On the other hand, things that I'm not keen on are writing texts, essays, etc., this has never been my cup of tea.

 

[Mikkel]

So should I try these 3 businesses?

No. These are only examples. You can if you want, but just get out there and try and start a business. Doesn't matter what, better to do something then get stuck in analysis paralysis.

If it fails, evaluate why it failed. Maybe you found something you liked about the business, and you can grown from there.

 

[PakooyValise]

No. These are only examples. You can if you want, but just get out there and try and start a business. Doesn't matter what, better to do something then get stuck in analysis paralysis.

If it fails, evaluate why it failed. Maybe you found something you liked about the business, and you can grown from there.

What do you think about my idea that I mentioned earlier? I mean, is it okay for the first business/project? To be honest, I don't have any experience with entrepreneurship and things like that.

 

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[Mikkel]

I don't see why not. Figure out a business model that works for the business you want to start and give it a go.

It is better than sitting around and thinking about it for years, not doing anything.

 

[PakooyValise]

I don't see why not. Figure out a business model that works for the business you want to start and give it a go.

It is better than sitting around and thinking about it for years, not doing anything.

Okay, thank you all for help. I will be posting here my progress.

 

[PakooyValise]

Hello again
It took me definitively too much time, but I've made some research. Firstly, I found that there are already businesses based on my idea, but they tend to be unpopular and ugly sites. There are also groups on Facebook focused on selling/buying textbooks, these are already more popular (the biggest one has 31k users).
So, if I wanted to break through I would have to: gather enough users, make a page/app like eBay (probably the hardest task), offer features that would give my page/app an edge over the competition and figure out how to maintain the site so that I don't have to pay for it out of my own pocket.
That seems like a lot of work, and I think firstly I'll try to make something like a prototype and check what people think about it.

 

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[Jaxsss]

I'd recommend watching this gold video MJ made. Build out your skills that you can leverage later down the line.

View: https://youtu.be/r_58zPgArb4

 

[PakooyValise]

I'd recommend watching this gold video MJ made. Build out your skills that you can leverage later down the line.

View: https://youtu.be/r_58zPgArb4

So, you’re saying that now I should focus on skills rather than this project?

 

[Jaxsss]

Do what you want to do. If it's selling textbooks and build page/app for that, go for it. Mainly just take action, try new things, fail and don't be scared.

The video just shows the concepts of how to build yourself as a person to be more valuable / successful.

 

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[PakooyValise]

My idea turned out to be a flop rather than a successful business. It seems to me that I was trying to solve a problem that is not there. It's time to choose something else

 

[Mikkel]

My idea turned out to be a flop rather than a successful business. It seems to me that I was trying to solve a problem that is not there. It's time to choose something else

What did you learn from your business failure?

If you are going to spend time on a business that fails, make sure you learn something of value so that it wasn't a waste of time.

Also, how do you know there is no problem? Was this your textbook sales idea? I know there are currently multiple companies that resell old textbooks.

 

[PakooyValise]

What did you learn from your business failure?

If you are going to spend time on a business that fails, make sure you learn something of value so that it wasn't a waste of time.

Also, how do you know there is no problem? Was this your textbook sales idea? I know there are currently multiple companies that resell old textbooks.

I learned that firstly, I need to ask out about my idea much more people and then make a solution upon that. Moreover, people are more likely to buy from Facebook. Also, when I did some calculations, I ended up that it won't be very profitable.

 

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