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.
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