Update: Change in Attitude (And where my Gold Thread went)!

[G_Alexander]

Well, I have received dozens of PMs asking where my "24 Years old: QUIT six-figure Job, Launched two Businesses" gold thread went. It is still here on the board, and I'll tell you how to find it.

First, a little update for those who were previously following my journey and were looking for one. I hired a full-time GM in February who is now running the day-to-day operations of the business. I focus on controlling our product offering and growth strategy:

Website Sales YTD: $720,000 (same time last year: $195,000)
Amazon Sales: $182,000 (same time last year: $0)
Total Annual Sales YTD 2016: $902,000

I'm getting close to that first million dollar year in sales online! Very exciting. Hoping to end this year with $1,800,000 total in the ecom business.

In addition, my B&M business has been growing more each month. Sales are now over $50,000 a month from my first B&M deal (with an equal partner). Also still have my 9 total rental units grossing $6,300 per month. It's all really starting to snowball! (Keep in mind, these are all gross sales numbers .... not income numbers).

I realized how hard I have been working since I was 13 years old, and in particular how hard I have researched, saved, and worked since I joined this forum back in 2008 when I was 18. So I bought my parents a new BOSCH dishwasher, got my girlfriend (of 10+ years) a new (used) car and got myself a little gift as well:

Yes, it is a Porsche 911 Turbo!

"Wow! Another 8 year overnight success story!" Glad I could share it with my online Fastlane fam =D.

One big realization I have had over the past couple years is that money is still important, but it can't be the ONLY objective in life. Sometimes I tend to get so focused on creating things and serving the market that I wake-up, astonished, that a whole year has gone by in the blink of an eye!

A wealthy mentor of mine once told me if you take the time to enjoy life along the way it may take you 17 years to get where you would have been in 15 years originally... but you will still have your soul/spirit at the end the ride. That resonated with me and I started living more in the present (rather than the future). And while I am SO amped to wake up and drive my Porsche every day, I still feel the same as before I bought the car! (Okay...maybe a little different... haha...but you get the picture!)

FINALLY: Those who have PM'd me and are wondering where my gold thread went... it was moved to the INSIDERS FORUM. I would highly encourage you to purchase access to the forum (I am in no way compensated for this... it is just my free advice to you). Think about it... if you want a Porsche/ Lambo/ Vacations/ Free Time/ Dream House/ etc. etc. and you are not willing to invest $80 in yourself... do you ever really think you will get anywhere?

As always, thank you to all who have helped, mentored and been there for me along the way. You know who you are! And thank you to @MJ DeMarco for this wonderful gathering place.

 

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[Vitom]

This isn't mean in bad nature at all, I am enthusiastic about starting my own Ecommerce business. But, I want to audit myself here...

Is Ecomm really that great? Its not being blown out of proportion is it?

I don't fear trying something new, but everyone on this forum seems to be talking about Affiliate marketing or Ecommerce.

I tried MLM's and other types of hyped up trends. I don't want to make another mistake by getting into the wrong kind of thing.

What is there to loose? Is there and major cons? What about Ecommerce was so fitting for you?

I am glad to hear of your success. That is really awesome! I need to make a change in my life as well.

 

[theag]

This isn't mean in bad nature at all, I am enthusiastic about starting my own Ecommerce business. But, I want to audit myself here...

Is Ecomm really that great? Its not being blown out of proportion is it?

I don't fear trying something new, but everyone on this forum seems to be talking about Affiliate marketing or Ecommerce.

I tried MLM's and other types of hyped up trends. I don't want to make another mistake by getting into the wrong kind of thing.

What is there to loose? Is there and major cons? What about Ecommerce was so fitting for you?

I am glad to hear of your success. That is really awesome! I need to make a change in my life as well.

You should do more basic research and/or reading the book / threads on this forum. Both ecommerce and affiliate marketing are just sales channels, not businesses. If you are "starting your own ecommerce business", you are already doing it wrong.

 

[Vitom]

You should do more basic research and/or reading the book / threads on this forum. Both ecommerce and affiliate marketing are just sales channels, not businesses. If you are "starting your own ecommerce business", you are already doing it wrong.

This is day two of being on this website. I have not read the book, but it is on its way to my doorstep.

As you can tell, I am completely ignorant to any internet marketing or sales.

It is 100% new information to me.

On that note, I have zero shame in asking dumb questions. Because any great leader would agree, there is no such thing as a dumb question.

Currently I am employed by the military. As a Tactical Aircraft Maintenance Crew Chief on F22 Raptor. It consumes most of my time. I work 70+ hours a week. But when I do find free time, I spend that time seeking other ways to make income.

 

[G_Alexander]

On that note, I have zero shame in asking dumb questions. Because any great leader would agree, there is no such thing as a dumb question.

Currently I am employed by the military. As a Tactical Aircraft Maintenance Crew Chief on F22 Raptor. It consumes most of my time. I work 70+ hours a week. But when I do find free time, I spend that time seeking other ways to make income.

Thank you for your service @Vitom.

You are correct, no question is a dumb question (except for the one you have to ask twice ).

Just keep on exploring different potential paths until one resonates with your heart and mind. You will know you're on the right path when you feel so excited by it that the inherent risk doesn't bother you.

 

[Vitom]

Thank you for your service @Vitom.

You are correct, no question is a dumb question (except for the one you have to ask twice ).

Just keep on exploring different potential paths until one resonates with your heart and mind. You will know you're on the right path when you feel so excited by it that the inherent risk doesn't bother you.

Wise words my friend. I unfortunately have bounced around many times in life. Anywhere from selling Tuxedo's to sound technician, working on jets, and even selling New Cadillac's. Sales was easily the most enjoyable.

 

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[12Nick12]

This is awesome! You're a testament to just how far simply starting, putting in the effort to learn what is necessary, and staying consistent can get you. Thanks for some extra motivation and congrats on treating yourself and your family. I'm looking forward to the next progress update!

 

[Jean-Pierre]

"Wow! Another 8 year overnight success story!"

Hahahaha

 

[Vitom]

Hahahaha

if you think about it, 8 years is pretty quick compared to 40 years of people's life that is wasted trying to be successful

 

[JokerCrazyBeatz]

Im proud of you , motivation !

 

[Hong King Kong]

Congrats!!

 

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[TheGrind]

Extremely impressive! What type of B&M business do you have?

 

[Vigilante]

This isn't mean in bad nature at all, I am enthusiastic about starting my own Ecommerce business. But, I want to audit myself here...

Is Ecomm really that great? Its not being blown out of proportion is it?

I don't fear trying something new, but everyone on this forum seems to be talking about Affiliate marketing or Ecommerce.

I tried MLM's and other types of hyped up trends. I don't want to make another mistake by getting into the wrong kind of thing.

What is there to loose? Is there and major cons? What about Ecommerce was so fitting for you?

I am glad to hear of your success. That is really awesome! I need to make a change in my life as well.

Almost nobody on this forum is talking about affiliate marketing…

 

[Vigilante]

This is day two of being on this website. I have not read the book, but it is on its way to my doorstep.

As you can tell, I am completely ignorant to any internet marketing or sales.

It is 100% new information to me.

On that note, I have zero shame in asking dumb questions. Because any great leader would agree, there is no such thing as a dumb question.

Currently I am employed by the military. As a Tactical Aircraft Maintenance Crew Chief on F22 Raptor. It consumes most of my time. I work 70+ hours a week. But when I do find free time, I spend that time seeking other ways to make income.

There are plenty of dumb questions. You personally haven't asked any… But hang around here long enough and you will see many stupid questions.

 

[G_Alexander]

Im proud of you , motivation !

Thank you!

Congrats!!

Thanks!

Extremely impressive! What type of B&M business do you have?

Thanks! It is a service business with about 10-15 employees.

 

[TheGrind]

Thank you!


Thanks!


Thanks! It is a service business with about 10-15 employees.

I'm in the process of creating a B&M business. I need to hire at least 1 employee for now, however some days I'm swamped with work and would an employee or 2 and some days I have no work.

Have you ever experienced this? What would I do on the days I had no work?

 

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[G_Alexander]

I'm in the process of creating a B&M business. I need to hire at least 1 employee for now, however some days I'm swamped with work and would an employee or 2 and some days I have no work.

Have you ever experienced this? What would I do on the days I had no work?

Not sure what type of work it is, so a little harder to answer out of context... but sounds to me like you need 1 employee only. On the days where there is "no" work to do, I would have them do Administrative Tasks/Organization for the business or you personally.

"If there is time to lean, there is time to clean."

On the days where it is very busy, have them take whatever time necessary to complete the necessary work. Explain to them up-front in the hiring process that some days they won't be very busy, and other days they will be very busy (and that is just the nature of the business).

One other thing you could consider is a virtual employee (I haven't done this, but have heard they can be used when the hours are more flexible, like you are laying out).

 

[mws87]

Well, I have received dozens of PMs asking where my "24 Years old: QUIT six-figure Job, Launched two Businesses" gold thread went. It is still here on the board, and I'll tell you how to find it.

First, a little update for those who were previously following my journey and were looking for one. I hired a full-time GM in February who is now running the day-to-day operations of the business. I focus on controlling our product offering and growth strategy:

Website Sales YTD: $720,000 (same time last year: $195,000)
Amazon Sales: $182,000 (same time last year: $0)
Total Annual Sales YTD 2016: $902,000

I'm getting close to that first million dollar year in sales online! Very exciting. Hoping to end this year with $1,800,000 total in the ecom business.

In addition, my B&M business has been growing more each month. Sales are now over $50,000 a month from my first B&M deal (with an equal partner). Also still have my 9 total rental units grossing $6,300 per month. It's all really starting to snowball! (Keep in mind, these are all gross sales numbers .... not income numbers).

I realized how hard I have been working since I was 13 years old, and in particular how hard I have researched, saved, and worked since I joined this forum back in 2008 when I was 18. So I bought my parents a new BOSCH dishwasher, got my girlfriend (of 10+ years) a new (used) car and got myself a little gift as well:

Yes, it is a Porsche 911 Turbo!

"Wow! Another 8 year overnight success story!" Glad I could share it with my online Fastlane fam =D.

One big realization I have had over the past couple years is that money is still important, but it can't be the ONLY objective in life. Sometimes I tend to get so focused on creating things and serving the market that I wake-up, astonished, that a whole year has gone by in the blink of an eye!

A wealthy mentor of mine once told me if you take the time to enjoy life along the way it may take you 17 years to get where you would have been in 15 years originally... but you will still have your soul/spirit at the end the ride. That resonated with me and I started living more in the present (rather than the future). And while I am SO amped to wake up and drive my Porsche every day, I still feel the same as before I bought the car! (Okay...maybe a little different... haha...but you get the picture!)

FINALLY: Those who have PM'd me and are wondering where my gold thread went... it was moved to the INSIDERS FORUM. I would highly encourage you to purchase access to the forum (I am in no way compensated for this... it is just my free advice to you). Think about it... if you want a Porsche/ Lambo/ Vacations/ Free Time/ Dream House/ etc. etc. and you are not willing to invest $80 in yourself... do you ever really think you will get anywhere?

As always, thank you to all who have helped, mentored and been there for me along the way. You know who you are! And thank you to @MJ DeMarco for this wonderful gathering place.

Great work, man! Congrats. Rep+++++

 

[Ascension]

I'm in the process of creating a B&M business. I need to hire at least 1 employee for now, however some days I'm swamped with work and would an employee or 2 and some days I have no work.

Have you ever experienced this? What would I do on the days I had no work?

I've heard this great quote, don't remeber who it's from "One of anything is really nothing"

I guess it all depends on how important it is that there is an employee present, if you can't do it on your own if need be, you should get a second one, maybe both on partial time so it evens out to one full-time employye, but that way you always have someone who can jump in.

 

[TheGrind]

Not sure what type of work it is, so a little harder to answer out of context... but sounds to me like you need 1 employee only. On the days where there is "no" work to do, I would have them do Administrative Tasks/Organization for the business or you personally.

"If there is time to lean, there is time to clean."

On the days where it is very busy, have them take whatever time necessary to complete the necessary work. Explain to them up-front in the hiring process that some days they won't be very busy, and other days they will be very busy (and that is just the nature of the business).

One other thing you could consider is a virtual employee (I haven't done this, but have heard they can be used when the hours are more flexible, like you are laying out).

Thanks! One last question, any tips on hiring? Obviously I'm not anywhere near needing a HR department and don't want to outsource. Where do you post job listings, where do you find quality employees?

Thank you again!

 

[Fox]

Man I love reading your posts. Excellent stuff, glad you are taking some time to enjoy the fruits of your work.

 

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[RisingStars]

@G_Alexander Congratulations to your success. I remember that your thread was one of the first threads I've read on the forum around two years ago at the age of 17.
As you mentioned in this thread you found the forum at the age of 18. Still you decided to build a successful financial career even tho you knew (?) that you wanted to be a business owner one day.

Looking back would you advice yourself to do the same again and work to get a high paying job or would you outright start a business?
Do you use anything you learnt in college or in your job still today in your business(es)?

 

[Jeremy Groover]

I'm in the process of creating a B&M business. I need to hire at least 1 employee for now, however some days I'm swamped with work and would an employee or 2 and some days I have no work.

Have you ever experienced this? What would I do on the days I had no work?

Have you considered sub-contracting or 1099? It might be what your looking for. Depending on the business and the needed skill level, find a few willing to work college kids that can be at your beck and call. You have to pay a little better then usual, but you can then have them work at your leisure. You can hire them for the day/job and when you don't need them, then you wont have to pay them. Its something to think about at least. Again, depending on the type of job and required skill of course. Another thing to think about if possible. Schedule jobs around a week or so in advance. That way you can fill out an entire workload. It might be a little more manageable and you can plan a little better. That way you can schedule your worker/workers in advance and you know exactly what you will be dealing with work wise.

Jeremy

 

[TheGrind]

Have you considered sub-contracting or 1099? It might be what your looking for. Depending on the business and the needed skill level, find a few willing to work college kids that can be at your beck and call. You have to pay a little better then usual, but you can then have them work at your leisure. You can hire them for the day/job and when you don't need them, then you wont have to pay them. Its something to think about at least. Again, depending on the type of job and required skill of course. Another thing to think about if possible. Schedule jobs around a week or so in advance. That way you can fill out an entire workload. It might be a little more manageable and you can plan a little better. That way you can schedule your worker/workers in advance and you know exactly what you will be dealing with work wise.

Jeremy

The only issue with subcontracting is the level of complexity of it all, the IRS is so strict on it. From what I understand, you can't really dictate what the subcontracter should even do.

It does seem viable, but I'm on the fence with it.

 

[Jeremy Groover]

The only issue with subcontracting is the level of complexity of it all, the IRS is so strict on it. From what I understand, you can't really dictate what the subcontracter should even do.

It does seem viable, but I'm on the fence with it.

In a nutshell its like this. You cannot tell them how to do the job you can only expect a certain outcome. Example: John Doe is 1099 to mow yards for Jane. Jane allows him to use her equipment, and tells him what yard to cut. The only thing she is "allowed" to tell him is she wants it done. If he does it, he gets paid, if not, he doesn't. If your "jobs" are more in detail, break it down into smaller jobs to make sure they get done the way you want while not dictating it. Example: Tile work. Job 1: I want the tile removed and disposed, I will pay you "$xxx.xx". Job 2: I want mortar laid 1/2" thick, I will pay you "$xxx.xx" job 3: I want tile laid diagonally with a 1/2" gap, I will pay you "$xxx.xx" Job 4: ect......

Make sense?