Learn basic skills or just start doing?

[Katsuya]

Hey, I finished reading the book today and I was thinking about some business ideas but it occurred to me that I don't have any skills and I'm financially illiterate. I have no idea how interests, tax, and things like that work. Also, when I look at successful entrepreneurs, they almost always have some skill, such as programming, they used to start their business.

I'm thinking about learning the basic financial skills as MJ suggested in the book and then learning some other skill like programming. Is this the right course of action or should I just start some kind of business right away?

 

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[Waspy]

How will programming help you solve needs?

Find a need first, then evaluate what skills are needed to give your customer what they need.

You could spend a year of your life learning to program, and then realise that there is a huge need for this physical product that nobody else is making. Your programming don't mean shit now.

As for knowing the financial basics, yes, you should be learning THE BASICS. Don't do a degree in finance because MJ said you should know what a P&L looks like. It will take a matter of weeks to get your head around the basics. You will have an accountant to look after the complex stuff anyway.

 

[Katsuya]

How will programming help you solve needs?

Find a need first, then evaluate what skills are needed to give your customer what they need.

You could spend a year of your life learning to program, and then realize that there is a huge need for this physical product that nobody else is making. Your programming doesn't mean shit now.

As for knowing the financial basics, yes, you should be learning THE BASICS. Don't do a degree in finance be MJ said you should know what a P&L looks like. It will take a matter of weeks to get your head around the basics. You will have an accountant to look after the complex stuff anyway.

Hey, thanks for the response!

I'm pretty sure I'll be doing something on the internet since it's one of the fastlane interstates but as I'm writing this I realize I'm pursuing something I'm interested in rather than finding a need. I'm not sure what to do now.

 

[Tedd]

Aah, that starting problem! I'll be ready to start a business after ...
...one more book
...one more programming language
...one more certification
...one more degree
...one more GOLD post
...one more ...........

I can tell you this, you'll never be ready!

You already have enough skills to start. Those programming and P&L computations come later. Start DOING something right away and learn as you go. Successful fastlaners in this forum swear to God that it is THE secret.

Don't know where to find a need as @Waspy suggests? Read this post! I think it's the only post you ever need.
https://www.thefastlaneforum.com/co...from-700-pms-with-fellow-forum-members.66903/
Launch & Learn, isn't it @Andy Black? ;-)

 

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[Scot]

Welcome to the forum!

You don't need to be an expert in a skill to make a successful business. You don't need to be an expert programmer to build Microsoft like Bill Gates.

Oh wait...

Bill Gates didn't program Microsoft..

He hired someone to program it.

Here's the thing. There are incredibly smart and skilled people out there every day building world changing products and services.

For other people.

Don't know accounting? Hire an accountant.
Don't know how to code a website? Hire a coder.
Don't know tax law? Are you going to go to law school? No! Hire a lawyer.

Smart business people hire smarter people to do what they know they cannot.

That doesn't mean you need to be ignorant. But have a basic morning knowledge of what you're interested in doing so you can talk to and work with the professionals.


Read this thread
GOLD - No network? No money? No idea? No education? NO PROBLEM!

By most importantly search for a NEED that is begging to be solved or fixed. Start there, then work out a plan on how to solve it.

 

[GoodluckChuck]

You are right about simple finance. It's very important no matter what life path you choose.

The next "skill" you should focus on is mindset. It's by far the most important. Everyone posting responses so far is talking about it.

It's difficult at first because we are taught from a young age to chase money. You see that people are making money on the internet so you assume that's what you should do. Sounds right, but it's backwards!

Those people you see making money didn't start off thinking about the money, but rather what market need they would be satisfying.

MJ with his book satisfied the need for a no nonsense book about becoming an entrepreneur.

This forum satisfied the need for a place for people like us to talk about this stuff.

If money is your only focus it's hard to figure out the right path. Focus on helping others satisfy their needs and money will come looking for you.

I've been working at it for two months and am just starting to think a little differently. Reading books like How to Win Friends and Influence People and Give and Take are helpful for this.

The coolest part about changing your mindset from a taker to a giver is that your life becomes much more rich and full of meaning. This makes it more fun to live and makes you more engaged with the world and the people around you. This leads to seeing more and more needs and opportunities around you, which makes it much easier to come up with actionable business ideas.

Don't rush it and focus on how you think and view the world. The rest will fall into place if you can do this.

This forum is fantastic for learning the right mindset. Pay attention to how the successful guys view the world and you will see the light.

Good luck!

 

[G-Man]

I don't have any skills and I'm financially illiterate.

Mind if I ask how old you are?

 

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[Katsuya]

Thank you for all the insightful responses, everyone!

Mind if I ask how old you are?

I am 20. Turning 21 this year.

 

[G-Man]

I am 20. Turning 21 this year.

Learn sales. If you also have no money, get a temporary sales job and get paid to learn sales. You can hire people to do highly technical stuff for you, but getting others to buy what you're selling is a life skill everyone needs.

 

[Katsuya]

Learn sales. If you also have no money, get a temporary sales job and get paid to learn sales. You can hire people to do highly technical stuff for you, but getting others to buy what you're selling is a life skill everyone needs.

Is there a good course online for sales? I doubt I can learn much about sales by reading about it but I'm currently working as an ESL teacher full time so I cannot get another job.

 

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[amp0193]

I'm financially illiterate.

Sell something for more than it cost you to get/make it.

That's all you really need to know.

Pay a cpa to deal with taxes.

 

[MJ DeMarco]

Lemme ask you something...

If you're an aspiring screenwriter and your dream is to write a blockbuster screenplay, would your first question be: "What should I wear to the Academy Awards?"

Learn sales.
Learn how to communicate.
Learn to identify needs/wants/desires.
Learn what needs to be learned.

Everything else is an action-fake.

 

[Scot]

Is there a good course online for sales? I doubt I can learn much about sales by reading about it but I'm currently working as an ESL teacher full time so I cannot get another job.

I'm going to shamelessly plug my own thread here.

Ask Me Anything - The Beginner's guide to Sales + AMA

But no amount of reading about sales will replace 6 months of actual face to face selling.

 

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[Andy Black]

Just start? Just help someone?

As well as all the other great threads linked to already, you may find the following useful:

• www.thefastlaneforum.com/community/threads/the-biggest-reason-websites-suck.68179

Just bear in mind: The market pays for the value you add - not for how many books you've read, courses you've taken, or pieces of paper you hold.


Good luck.

 

[juan917]

definitely become financially literate as soon as you can

 

[Andy Black]

Oh, and for financial literacy, maybe check out this thread:

• www.thefastlaneforum.com/community/threads/online-direct-response-metrics.52781

 

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[G-Man]

Is there a good course online for sales? I doubt I can learn much about sales by reading about it but I'm currently working as an ESL teacher full time so I cannot get another job.

You're an ESL teacher in S Korea? Are you from US or UK?

I'm asking because I had a ton of friends doing this when I lived in Asia,... and there's opportunity to be had if you're willing to hustle.

 

[V8Bill]

Is there a good course online for sales? I doubt I can learn much about sales by reading about it

I think you may be pleasantly surprised. In the spirit of RTFM I can highly recommend these two starting books for anyone wondering how to start thinking like a seller.

How I raised Myself From Failure To Success In Selling by Frank Bettger
How To Win Friends And Influence People by (the master himself) Dale Carnegie.

Their basic message is "love people, help people, don't be a dick, believe in your better self".

They're old but they're classics and essential reading for a good reason in my view. Also very easy to read and understand. I especially love "how to win an argument every time" from HTWFAIP. And if possible get them in treeware (paperback). There's something special about holding a real book made from trees. It seems to stick better.

Good luck, you're going to go far.

 

[Katsuya]

Lemme ask you something...

If you're an aspiring screenwriter and your dream is to write a blockbuster screenplay, would your first question be: "What should I wear to the Academy Awards?"

Learn sales.
Learn how to communicate.
Learn to identify needs/wants/desires.
Learn what needs to be learned.

Everything else is an action-fake.

So by "learn what needs to be learned," you mean I should first learn the business fundamentals that are used in every business right? And then learn whatever I need to learn for my business?

You're an ESL teacher in S Korea? Are you from US or UK?

I'm asking because I had a ton of friends doing this when I lived in Asia,... and there's an opportunity to be had if you're willing to hustle.

Yea I'm working in Korea atm. I'm from US but I already got a citizenship here in Korea though

I think you may be pleasantly surprised. In the spirit of RTFM I can highly recommend these two starting books for anyone wondering how to start thinking like a seller.

How I raised Myself From Failure To Success In Selling by Frank Bettger
How To Win Friends And Influence People by (the master himself) Dale Carnegie.

Their basic message is "love people, help people, don't be a dick, believe in your better self".

They're old but they're classics and essential reading for a good reason in my view. Also very easy to read and understand. I especially love "how to win an argument every time" from HTWFAIP. And if possible get them in treeware (paperback). There's something special about holding a real book made from trees. It seems to stick better.

Good luck, you're going to go far.

I read HTWFAIP a few months ago electronically but I wanted to reread it so I bought a paperback and it arrived like a few days ago



Thanks for the responses everyone! I will take time reading the threads you guys have suggested here.

 

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[MJ DeMarco]

So by "learn what needs to be learned," you mean I should first learn the business fundamentals that are used in every business right? And then learn whatever I need to learn for my business?

If you are presented with a problem...

What is 6 multiplied by 3?
(6 x 3) = ??

Drive for its answer.

If you don't know the solution for above, what DO YOU NEED to learn first?

A) Code, namely PHP and Python.
B) Learn how to sell on Amazon
C) Learn SEO
D) Basic math, namely multiplication.
E) Read a book recommended by Warren Buffet.

Which of the above will get you to the solution?

 

[iizu]

Just repeating what @MJ DeMarco said.

This has been said in the forums a million times:

When you start doing you will face problems. Then you start to ask the right questions.

Example:

I'm making a physical product. Developing the product was easy. (I'm an engineer)

Then I had to start doing a website/landing page to test my product.

I faced a problem: Writing copy for the product. Then the questions started to flow.. and eventually came the right questions:
•Who am I writing for?->Who is my ideal customer?->How to define your ideal customer?

The you pick up a book on the subject or read few articles, search the forums and EXECUTE.