D
Deleted73181
Guest
Hey guys,
Been lurking for a while and I thought I would finally make an account.
My entire life I have wanted to be a business owner of some sort. However books like the millionaire fastlane are what have triggered me to take more action in my own life. At 20 years old, I have had three business attempts.
The first one failed because it was too high a barrier of entry for me to financially compete on a large scale. The second idea failed because I didn't make any sales (bad product nobody wanted) and could not afford to keep it running. The third one failed because it was in a certain craft (working with my hands) and I was just terrible at it. I was making a small profit. But I made more at my day job and the length of time it would taken to become good versus the profit margin and non-recurring revenue made it not worth it. So I quit.
The truth about young entrepreneurship hit me hard these last 3 years. Without a job/career that pays you decent money, you are severely limited in your choice of entrepreneurial ventures. Let me explain....
I keep a journal in my room with a list of all my business ideas.
All of the really good ones will take me at LEAST $10K to start. But when I'm making $15 an hour, that $10k can take time to save up. When I failed idea #2, it hurt immensely for me to realize that I had wasted half a year of my life working to build something nobody had actually wanted.
If I had a better paying day job it would provide me with a BETTER, MORE STABLE INCOME to support my business ventures. If it takes only 2-3 months to save $10k versus my 6 months, I will have much more money to risk. And feel less pain if I lose.
It's for this reason why I am going back to trade school for plumbing and have recently began working as a helper. I am going to take a hiatus from pursuing any ideas until I get my savings back up. For now, just going to keep reading until I figure something out.
Been lurking for a while and I thought I would finally make an account.
My entire life I have wanted to be a business owner of some sort. However books like the millionaire fastlane are what have triggered me to take more action in my own life. At 20 years old, I have had three business attempts.
The first one failed because it was too high a barrier of entry for me to financially compete on a large scale. The second idea failed because I didn't make any sales (bad product nobody wanted) and could not afford to keep it running. The third one failed because it was in a certain craft (working with my hands) and I was just terrible at it. I was making a small profit. But I made more at my day job and the length of time it would taken to become good versus the profit margin and non-recurring revenue made it not worth it. So I quit.
The truth about young entrepreneurship hit me hard these last 3 years. Without a job/career that pays you decent money, you are severely limited in your choice of entrepreneurial ventures. Let me explain....
I keep a journal in my room with a list of all my business ideas.
All of the really good ones will take me at LEAST $10K to start. But when I'm making $15 an hour, that $10k can take time to save up. When I failed idea #2, it hurt immensely for me to realize that I had wasted half a year of my life working to build something nobody had actually wanted.
If I had a better paying day job it would provide me with a BETTER, MORE STABLE INCOME to support my business ventures. If it takes only 2-3 months to save $10k versus my 6 months, I will have much more money to risk. And feel less pain if I lose.
It's for this reason why I am going back to trade school for plumbing and have recently began working as a helper. I am going to take a hiatus from pursuing any ideas until I get my savings back up. For now, just going to keep reading until I figure something out.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Last edited by a moderator:
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
