I'm Looking To Join The Fastlane

[WTF]

Hey everyone!

I'd prefer to keep myself anonymous, so I'll just refer to myself as WTF. I live in southern California, and the reason I'm here is overall just to build some of my wealth/acquire connections/help and be helped. I'm 21 years old. I've failed on three start-ups and have lost over $15,000 total (I'm pretty sure I've learnt from my mistakes though).

Hopefully I can learn a lot from MJ and his community of like-minded entrepreneurs and millionaires. Perhaps I'll even be able to find some advice/mentorship on the e-commerce business I'd like to start!

Who knows...

Glad to be a part of the FLF community. Cheers.

 

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[MJ DeMarco]

Welcome to the forum.

I've failed on three start-ups and have lost over $15,000 total

What happened here?

 

[WTF]

What happened here?

Here's a private message I wrote out to one of the FLF members who asked me the same question concerning my failures:

Initially, after having graduated high-school I tried starting my own web-development business. This was my first business. I did plenty of cold calls, coded my own site, and made sure everything looked pretty. I ended up spending about $4,000 and only making about $2,000 before quitting out of discouragement (and due to having my mom slander me for wasting so much money and not having a real job). I have since forgot most of my coding knowledge as I haven't really done much coding in the past 4-5 years? I still remember some of it though...

The second business I tried to build was through a blog (terrible mistake and definitely not fastlane). I actually built up a lot of traffic with this one, and I think I might have been able to monetize better in hindsight, though I ended up quitting this one out of discouragement as well -- because despite having a lot of traffic -- I still didn't really make sales (I was trying to sell e-books and supplements -- it was the Men's Self-Improvement niche). I ended up losing about $10,000 on this one in total (due to paying for traffic in some cases, hiring out people to type posts, buying supplements to sell with private labels before even having people buy them, other foolish mistakes). Many many many entrepreneurial lessons were learnt from this blunder of mine -- I definitely wish I had learned them from someone else but I now know I will never repeat the same mistakes again.

Then lastly, and most recently, I moved away from my family in Florida and moved to a metro city in California. I've been trying to put some cogs together for a business here and it's still not going so well. I've wasted about $3,000 - 4,000 so far...

Overall it's just my own stupidity -- I fess up to it. Discouragement and quitting early and attempting to cater to a market that isn't there are my largest faults. I'm hoping to do better, and I'm willing to work to do better.

I've learned from my mistakes.

Hopefully I can start a profitable eCommerce business soon; currently trying to absorb as much information concerning products as I can before I dive in head-first -- I really don't want to fail/quit another business.

Also MJ, thank you for responding. Respect to you and the FLF Empire you've built. You're a large inspiration for me and all other entrepreneurs alike -- keep doing you.

Cheers.