What should Young people do & learn?

[Peakdesire]

Hey guys. I'm 20 years young aspiring entrepreneur and I'm wondering what should I be doing with my free time and what should I be learning?

I'm already reading books and using the internet to learn as much as possible.

But...I'm feeling a little lost. I'm not sure what I exactly should be learning and doing.

Should I learn Marketing? Sales? Finance? Coding?

What should I spend my time on?

I want to make sure I'm not wasting any time and I want to begin my Fastlane journey as soon as possible.

I'm sure there are many other young people who are wondering the same thing, and would benefit a lot of this thread.

V

 

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[jon.a]

Learn to get stuff done and be trusted.

 

[theag]

Start building a business instead of just action faking. Then learn what you need as you go.

 

[Peakdesire]

Start building a business instead of just action faking. Then learn what you need as you go.

Yeah that's the problem. What business.

 

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[theag]

Yeah that's the problem. What business.

I don't know but you won't find the answer to this question in some book.

 

[Peakdesire]

I don't know but you won't find the answer to this question in some book.

I know that.

Well at least I'm on the right path and reading and learning instead of wasting time until i figure out what business I should start

 

[theag]

I know that.

Well at least I'm on the right path and reading and learning instead of wasting time until i figure out what business I should start

Check out IceCreamKid's threads.

And all the other Gold threads in the INSIDERS section.

 

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[JahvonCreamCone]

Hey man. I'm 20 years old too. Hopefully you have already read MJ's book.

I would advise that you find a solution to a problem or a need. Find some way you can help people or make things easier for people.

People give their hard earned money to people that actually help them. So you can find someway to help people, that they would actually spend their money on.

Find a problem, think of a solution. I know you more than likely don't have a ton of money to start something huge , so start small and then build bigger.

There are a bunch of problems out there. You don't have to reinvent the wheel. Just take something and put a flip on it, or find a way to make it better.

If you don't know what to learn, start by learning about a business you have in mind. Learn your niche, who you'll be selling to, the skills and knowledge you'll need..ext.

For example im starting an online business, so im learning the basics of code just so I can have an understanding of it.

So spend time learning things applicable to your business or business ideas.

Well that's some of my 2¢'s and a little knowledge I've learned here. The most important thing I've learned from this forum is that entrepreneurs most find their own way.

Wish you the best mate.

 

[IceCreamKid]

Should I learn Marketing? Sales? Finance? Coding?

What should I spend my time on?

For all young people, I'd tell them to spend A LOT of serious time thinking about what their natural strengths are. People in their early 20's are usually looking for that ONE tactic, that ONE strategy, that ONE idea that will change their life forever. The problem is that the strategy often isn't aligned with the person's natural abilities.

I'm an offline biz type of guy. I like to shake people's hands, meet them face to face, and give them a bear hug. If you were to tell me to start an online biz advertising solely through Facebook, the project would be abandoned by midnight. Online biz simply isn't fun to me because the playing field changes so fast.

The reality is that we each are given a unique key to open the treasure chest. The key that I hold will not open MJ's treasure chest, only mine. Your treasure chest can only be opened by the key in your hand.

If all else fails, open an ice cream shop. This one near my house has a line out the door before they even open in the morning. They get so many customers, they decided to stay open until 2am.

https://www.creamnation.com/

Learn to reverse engineer successful businesses then add a twist. That's what I did. My twist is affordable excellence.

Good luck. This path is no joke. Your a$$ will get kicked, you will get frustrated, but if you push through the insanity then you'll come out on the other side with a real understanding of what MJ means when he says to respect PROCESS.

 

[Determined2012]

I think you should develop your social skills and do fun/interesting things while you are trying to figure out your business.

People who are spunky and good with people and can tell interesting stories or talk about interesting things are always memorable. Doing this will help you when you are ready to be in business.

 

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[The-J]

There's a LOT to learn as an entrepreneur. But I'd start with, of course, The Millionaire Fastlane .

Then I'd pick up How To Win Friends And Influence People by Dale Carnegie. It's a must-read, and a must-read-multiple-times, and a must-take-notes kind of book. You need to understand how to interact with people and why people say and do the things they do. Nothing bad ever came of understanding people on a complex level.

From there, I'd pick up Ca$hvertising and the Boron Letters. Those books really illuminate HOW and WHY people buy, and by reading through them multiple times you learn how you can use the techniques they use to make people buy.

I'd also pick up Ben Graham's The Intelligent Investor so you can understand how companies are invested in. It's a great book to gain a general 'business sense'.

Those 5 books put you ahead of 95% of the populace. But being smarter than people doesn't make you money. Identifying market needs then selling the solution to the market makes money.

Start with training your 'idea muscle'. Come up with 10 business ideas every day. Yes, bad ones too. Examine them and see if anyone else is already doing what you propose (this is easy: search the benefits of your 'idea' in Google and the competitors will pop up). Look into them further and then put them in a Word document, save em, and come up with 10 new ideas the following day. Once you find one that sounds good, take action on it.

That idea will probably fail. But you'll learn from it. You'll learn a lot. You'll learn what not to do in business and you won't do it again. Usually your first lesson has to do with validating an idea quick as possible.

And stick around on this forum. Don't post as much as I do, though, because I sometimes make an a$$ out of myself.

Good luck, and lurk more.

 

[Michael Raphael]

Build your network. Speak to as many people, join as many business startups, and just learn. I am 21 just was on iHeart Radio earlier today, two days ago I was approached by a man to join a $1m competition. I just go out and do everything I can. I own 5 businesses now and growing. Keep fighting champ!

 

[Peakdesire]

For all young people, I'd tell them to spend A LOT of serious time thinking about what their natural strengths are. People in their early 20's are usually looking for that ONE tactic, that ONE strategy, that ONE idea that will change their life forever. The problem is that the strategy often isn't aligned with the person's natural abilities.

I'm an offline biz type of guy. I like to shake people's hands, meet them face to face, and give them a bear hug. If you were to tell me to start an online biz advertising solely through Facebook, the project would be abandoned by midnight. Online biz simply isn't fun to me because the playing field changes so fast.

The reality is that we each are given a unique key to open the treasure chest. The key that I hold will not open MJ's treasure chest, only mine. Your treasure chest can only be opened by the key in your hand.

If all else fails, open an ice cream shop. This one near my house has a line out the door before they even open in the morning. They get so many customers, they decided to stay open until 2am.

https://www.creamnation.com/

Learn to reverse engineer successful businesses then add a twist. That's what I did. My twist is affordable excellence.

Good luck. This path is no joke. Your a$$ will get kicked, you will get frustrated, but if you push through the insanity then you'll come out on the other side with a real understanding of what MJ means when he says to respect PROCESS.

Tremendous reply IceCreamKid. Thanks!

Any tips on reverse engineering businesses?

 

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[Peakdesire]

Build your network. Speak to as many people, join as many business startups, and just learn. I am 21 just was on iHeart Radio earlier today, two days ago I was approached by a man to join a $1m competition. I just go out and do everything I can. I own 5 businesses now and growing. Keep fighting champ!

Thanks.

Congrats man. Sounds like your on the right path. Good luck on your businesses!

 

[Peakdesire]

There's a LOT to learn as an entrepreneur. But I'd start with, of course, The Millionaire Fastlane .

Then I'd pick up How To Win Friends And Influence People by Dale Carnegie. It's a must-read, and a must-read-multiple-times, and a must-take-notes kind of book. You need to understand how to interact with people and why people say and do the things they do. Nothing bad ever came of understanding people on a complex level.

From there, I'd pick up Ca$hvertising and the Boron Letters. Those books really illuminate HOW and WHY people buy, and by reading through them multiple times you learn how you can use the techniques they use to make people buy.

I'd also pick up Ben Graham's The Intelligent Investor so you can understand how companies are invested in. It's a great book to gain a general 'business sense'.

Those 5 books put you ahead of 95% of the populace. But being smarter than people doesn't make you money. Identifying market needs then selling the solution to the market makes money.

Start with training your 'idea muscle'. Come up with 10 business ideas every day. Yes, bad ones too. Examine them and see if anyone else is already doing what you propose (this is easy: search the benefits of your 'idea' in Google and the competitors will pop up). Look into them further and then put them in a Word document, save em, and come up with 10 new ideas the following day. Once you find one that sounds good, take action on it.

That idea will probably fail. But you'll learn from it. You'll learn a lot. You'll learn what not to do in business and you won't do it again. Usually your first lesson has to do with validating an idea quick as possible.

And stick around on this forum. Don't post as much as I do, though, because I sometimes make an a$$ out of myself.

Good luck, and lurk more.

Thanks a lot J!

You got that ''develop the idea muscle'' from James Altucher right?

 

[theag]

https://www.creamnation.com/

Damn that stuff looks tasty!!

Unfortunately I'm on diet

 

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[D11FYY]

The thing is you really have to workout your strengths just now, focus on these and how it could influence people and your business.
You will fail with a few business's or start to see that they are mediocre in terms of slow progression but at least you have tried and learned.

If you like a particular field then go work in that field gain knowledge experience how the day to day business endeavors work then after a short period of time you would be able to start or branch off of this business. You will honestly be amazed how you could work in one industry but come up with ideas on how to improve it after a short period of time.

It all takes time, lots of people are not people friendly but if your a businessman I definitely say you work on your person to person and sales skills.

 

[The-J]

Thanks a lot J!

You got that ''develop the idea muscle'' from James Altucher right?

Stole it directly from him. When someone who makes millions of dollars tells you something that helped him after starting from zero you listen

 

[pickeringmt]

Just having this seed planted is the most important part.

It is like walking; learn, apply. learn, apply.

Just give something a shot. Make it solid.

This forum is a GREAT place to start.

BTW, what you are feeling is totally common. You don't know where to start, but you feel the desire.

It is like you are looking at a mountain - don't ask yourself, "how am I going to get all the way to the top?", just start walking...

 

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[Peakdesire]

Stole it directly from him. When someone who makes millions of dollars tells you something that helped him after starting from zero you listen

That's exactly what I thought when I read it in his book. hah.

 

[IceCreamKid]

Tremendous reply IceCreamKid. Thanks!

Any tips on reverse engineering businesses?

I ask a series of questions and lay out the answers on paper.

1. How large is the company? How are their sales? How many employees do they have? If it costs them $50k to hire an employee, they must make at least $50k in profit just to break even. Think about that. The more employees they have, the more sales they are usually making. This is not always the case, but just a rule of thumb to follow.

2. Who is their target market? What are they like?

3. What is their marketing strategy?

4. WHAT IS THE PAIN/NEED THEY ARE SOLVING? If they are not solving a real need, I'd stay away from that biz. Great businesses are born from solving a need. It's not about you. Tattoo this on your brain.

5. What issues do their current customers have with the product/service? How can I add value?

Write down your goal and WHY you want to achieve it. HANDWRITTEN and SPECIFIC.

Then ask yourself how you are going to achieve this goal. What do you need to happen?

Write down your action plan. START. Cut down on information overload. Trim the info fat and just start.

Don't get stuck in any of this mental masturbation inspirational fluff. Don't read my ice cream threads unless your mindset is really in the wrong place and needs a serious overhaul. If there was any way to summarize my thread in one sentence, it's this: learn to share and give value. Share the ice cream.

Don't lie, you just smiled. I can almost see you right now with a big grin on your face.

 

[Mattie]

As I say to my son and his friends, what are you talented at, and what have you done all your life. Like my son, has a lean towards taking things apart and putting them back together, technical, mechanical, math, computers, and robotics. So that's been a pattern his life. So there are many options he can use with those talents and abilities. So use what you have, what you know, and look at how you can turn that into a fast lane experience. What products can be created? What kind of people buy those products? What are the problems in those areas? How can you fix the problem?

 

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[Peakdesire]

I ask a series of questions and lay out the answers on paper.

1. How large is the company? How are their sales? How many employees do they have? If it costs them $50k to hire an employee, they must make at least $50k in profit just to break even. Think about that. The more employees they have, the more sales they are usually making. This is not always the case, but just a rule of thumb to follow.

2. Who is their target market? What are they like?

3. What is their marketing strategy?

4. WHAT IS THE PAIN/NEED THEY ARE SOLVING? If they are not solving a real need, I'd stay away from that biz. Great businesses are born from solving a need. It's not about you. Tattoo this on your brain.

5. What issues do their current customers have with the product/service? How can I add value?

Write down your goal and WHY you want to achieve it. HANDWRITTEN and SPECIFIC.

Then ask yourself how you are going to achieve this goal. What do you need to happen?

Write down your action plan. START. Cut down on information overload. Trim the info fat and just start.

Don't get stuck in any of this mental masturbation inspirational fluff. Don't read my ice cream threads unless your mindset is really in the wrong place and needs a serious overhaul. If there was any way to summarize my thread in one sentence, it's this: learn to share and give value. Share the ice cream.

Don't lie, you just smiled. I can almost see you right now with a big grin on your face.

Thanks so much for taking the time to answer. Really appreciate it.

Yes, I smiled. : )

 

[Peakdesire]

As I say to my son and his friends, what are you talented at, and what have you done all your life. Like my son, has a lean towards taking things apart and putting them back together, technical, mechanical, math, computers, and robotics. So that's been a pattern his life. So there are many options he can use with those talents and abilities. So use what you have, what you know, and look at how you can turn that into a fast lane experience. What products can be created? What kind of people buy those products? What are the problems in those areas? How can you fix the problem?

THnaks.

 

[carlolacson]

I'm also 20 years old and the best way you can do is keep on reading books, apply the principles and take action.Find people in your country that has the same mindset as you and form a mastermind group.

 

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[jazb]

Learn to sell

 

[tafy]

Your not telling us enough information really

Are you good with people and sociable? Learn sales and marketing
Are you more introverted? Get busy with an internet business idea

Can you code or interested in code? Get good in coding, get junior developer job and do some freelancing until your a master at it

Theres a load of different paths to take

Maybe your an all rounder but master of none type guy, get a good idea and get cracking and outsource to experts.

Theres a hundred ways for a young person to achieve the fastlane.

Oh and one of the best ideas for a young person is to hunt down a startup your interested in and work for them!

 

[Mike Kavanagh]

Don't lie, you just smiled. I can almost see you right now with a big grin on your face.

Yeah man. You caught me.
My hung over self has only two things on my mind. Pancakes and syrup.
And that would be a beautiful stack of pancakes.

1. How large is the company? How are their sales? How many employees do they have? If it costs them $50k to hire an employee, they must make at least $50k in profit just to break even. Think about that. The more employees they have, the more sales they are usually making. This is not always the case, but just a rule of thumb to follow.

2. Who is their target market? What are they like?

3. What is their marketing strategy?

4. WHAT IS THE PAIN/NEED THEY ARE SOLVING? If they are not solving a real need, I'd stay away from that biz. Great businesses are born from solving a need. It's not about you. Tattoo this on your brain.

5. What issues do their current customers have with the product/service? How can I add value?

This is gold.
I was going to bold the important parts but I realized I'd have to bold the whole thing.

 

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[Peakdesire]

Learn to sell

Will do

 

[Pete799p]

Learn to sell

Second vote here. LEARN TO SELL...anything just do it