With what should you start when you were 17?

[Brentnal]

I am 17 now i read some books i got enough self help info i read the millionaire fastlane i think it is time to choose 1 or a few things to do from the list i provided below, to get myself some experience and a nice steady income.I live at home with my mother and sister in a appartment not so big. I live close to a mayor city called Rotterdam.

At school i currently am studying Bookkeeping and administration.
I got a job as a dishwasher in a restaurant earning 4,25 an hour im doing this till february to get my drivers license and start my own income.

My 2 priorities are 1.)Money 2.) Experience (experience essential for later wich i can use for other things to)

Info about myself
-I am a daydreamer always thinking about my life my goals etc, I love thinking i like looking deeper into how something works if i really like something ill be busy with it 24/7.

-I like making music on the computer and i like playing games same things everybody loves.

-I can work good under pressure it is very good for me.

-I like working with a small team or alone

-I like to be active/busy not sitting still all day

-I like to make money 24/7 whatever it takes

-I find the human psycologhy really interesting! how they think etc manipulating taking advantage of other people.

-I like to be in control of everything

-I am structured and ordered

-I like to satisfy people

-I like good and strong discussions about how something works or the world,news,religion,politics

-People say i think like a much older person i think different than most people.

So thats basicly what i know about myself, i don't really know myself yet.

Much thanks for the help people =)

· Internet Marketing
· copywriting
· marketing
· ecommerce stores
· stocks
· Ebooks
· MLM (Multi level Marketing)
· Web developer
· telemarketing
· Leveraged buyout
· hedge-fund manager
· Real estate
· Inventing,
· Innovating,
· Licensing,
· Authoring
· Sales
· Marketing
· Making apps
· Poker
· Network marketing
· Seo

I want you to choose the 2 best options for me again much apreciation.

 

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[Runum]

Your question is too broad. We don't know the laws in your country. You can't enter into contracts in US under 18 unless your parents are signing the papers. But you are not in the US. Each category had pros and cons.

We don't know your skills. We don't know your family support. We don't know your resources or your market.

We can't make your choices for you.

You will have to research more of what fits you and what your market is wanting.

I will say that some of your choices will get you a self employment job. Some of your choices will be more apt toward developing a business. Some of your choices are simply investing.

You need to ask better questions to get better answers.

 

[Tom.V]

My recommendation is work for someone else for a while, and read, research, and test in your free time. You can start at any end of the spectrum, but I'd start off reading books on sales and sales psychology. Influence by Robert Cialdini is a good outline that will help you in your sales endeavors for many years to come. Every time I read a book, or see someone posting about some sales tactic, it is always intertwined with the principles he stated within his book. It just makes sense.

But really, get a book on each topic, learn what you can. The more skills and knowledge you acquire, the more you will be capable of when you do finally figure out what you want to do.

 

[Phones]

I'm 18 (soon 19) and also looking to educate myself. My recent amazon order:

Entrepreneur Revolution: How to Develop Your Entrepreneurial Mindset and Start a Business That Works
Priestley, Daniel

Secrets Of The Millionaire Mind: Think rich to get rich Secrets Of The Millionaire Mind: Think rich to get rich
Eker, T. Harv

To Sell is Human: The Surprising Truth About Persuading, Convincing, and Influencing Others To Sell is Human: The Surprising Truth About Persuading, Convincing, and Influencing Others
Daniel H. Pink

The $100 Startup: Fire Your Boss, Do What You Love and Work Better to Live More The $100 Startup: Fire Your Boss, Do What You Love and Work Better to Live More
Guillebeau, Chris

Brilliant Selling: What the Best Salespeople Know, Do and Say (Brilliant Business) Brilliant Selling: What the Best Salespeople Know, Do and Say (Brilliant Business)
Bird, Tom

Plus, TMF is my bible.

Also, you look like you are trying to focus on an area. Don't do it. Be open to problems needing to be solved in every area, where the solution is in form of an app or a coffee shop, or a service, who cares. Don't focus your attention on just 2 ou 3 areas, needs and problems come from everywhere.

 

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[Mike39]

None of those categories really matter, there is money to be made in all of them and surely you could find a need in almost any of them; however, the fastest way to success is not to study and learn something and then go look for a need to fill and hope there is one there, you look and look and you find a group of people begging to give you their money and then you learn the skills needed to solve their problems, providing value.

I personally have found myself recently learning a lot about internet marketing and paid traffic but that's only because I found a need and needed to learn that stuff to provide the service, it wasn't a choice; for example I would instead be learning real estate if I had found a massive need in that market.

My 2 priorities for these are 1.)Money 2.) Experience (experience essential for later wich i can use for other things to)

Having read TMF , you should know why this sentence will hold you back. This sentence is all about me and what I want, well guess what, nobody cares about you; nobody is going to say "Oh 16yob want's money and experience so I should use his service over the better, cheaper, and more valuable one". Start looking outwards, how can you help someone else, what problems can you solve for someone?

I'm not saying here that you shouldn't care about money, were not running freaking charities here and the fact is that every single fastlaner successful or not wants or wanted money at some point for various reasons; the difference is if you can put that desire for money behind the desire to solve peoples problems for them. When that main focus changes from what do I want to what do other people want, then that will be a huge step in the right direction for you.

 

[Kak]

Leveraged buyouts? Managing hedge funds? Id rather light cigars with my money than let a 16 year old manage it.

 

[Sir Ingenious]

Here's a movie scene to get you started in business.

[video=youtube;2-6rJ9t5WOE]https://www.youtube.com/watch?v=2-6rJ9t5WOE[/video]

And look up Seth Godin in Google.

Then go do it.

 

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[LeungJan]

Zen dolphin had a good post of advice relating to when he was young...

 

[Capital]

Leveraged buyouts? Managing hedge funds? Id rather light cigars with my money than let a 16 year old manage it.

No offense to OP, but I thought it was a joke. People say they want to be a hedge fund manager when they see the top managers taking home over a billion a year. Pick a top manager, let's say John Paulson (who made just short of $5B in 2010), he was valedictorian at NYU and later graduated in the top 5% at Harvard Business School. No person or company would trust their money with a 17 year old. For someone your age, I'd stick with apps and seo.

 

[Brentnal]

Also, you look like you are trying to focus on an area. Don't do it. Be open to problems needing to be solved in every area, where the solution is in form of an app or a coffee shop, or a service, who cares. Don't focus your attention on just 2 ou 3 areas, needs and problems come from everywhere.

I think it is better to focus on 1 or 2 things. That way you will be much better instead of focusing on more things

 

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[Brentnal]

No offense to OP, but I thought it was a joke. People say they want to be a hedge fund manager when they see the top managers taking home over a billion a year. Pick a top manager, let's say John Paulson (who made just short of $5B in 2010), he was valedictorian at NYU and later graduated in the top 5% at Harvard Business School. No person or company would trust their money with a 17 year old. For someone your age, I'd stick with apps and seo.

I understand nobody is gonna let a 17 yr old manage but if i start learning about it know and ill be good later thats the point.

 

[Brentnal]

We don't know your skills. We don't know your family support. We don't know your resources or your market.

I added more info about myself i can't put more info there thats all i know basicly.

 

[Brentnal]

None of those categories really matter, there is money to be made in all of them and surely you could find a need in almost any of them; however, the fastest way to success is not to study and learn something and then go look for a need to fill and hope there is one there, you look and look and you find a group of people begging to give you their money and then you learn the skills needed to solve their problems, providing value.

But it will be awsome if you like the way you are making cash it makes your life that much better.

 

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[Phones]

I think it is better to focus on 1 or 2 things. That way you will be much better instead of focusing on more things

No.

Focus (eyes) on Everything.
Find a Need.
Focus on what's required/knowledge to fullfill that Need.
Learn it and do it.
Profit.



What you're doing:

Focus on "something" and learn it
Fullfill no need, or a "half" need
No profit or half profit.

 

[Brentnal]

No.

Focus (eyes) on Everything.
Find a Need.
Focus on what's required/knowledge to fullfill that Need.
Learn it and do it.
Profit.





What you're doing:

Focus on "something" and learn it
Fullfill no need, or a "half" need
No profit or half profit.

There are needs everywhere i just want to pick something from that list to do what you said you can better do something you enjoy you know.You will achieve much more!! that way

And once i know something i fulfill that need don't say things you don't know
You will achieve much more!!

 

[InLikeFlint]

Hello 16yearoldboy, 17yearold boy here...also known as InLikeFlint

I've read this thread a few times over, and all the comments and took some time to think a good way to approach this. There is a lot I could say on the subject, but I want to make sure it's presented in a way that is beneficial to you and the other members of the forum. I have been in the same position you are, battling the temptation of chasing money instead of solving a problem, and in many ways I am still in this position. The information I am about to give you comes from my experience in the situation and will explain how and why I shattered my belief that chasing the money would work. I also suggest you check out my thread titled: "The 'Inside Out' Technique" - it includes a step by step process on how to find and fill a need.

Without further adieu,

At school i currently am studying Bookkeeping and administration.

Does the align with your goals to be self sufficient? What you study should directly benefit what you plan to do business wise, if it doesn't, then why even bother with school?

I got a job as a dishwasher in a restaurant earning 4,25 an hour im doing this till february to get my drivers license and start my own income.

What have you been doing with this income so far? Have you considered keeping the job until you have the funds to run your business? Some sort of capital will likely be required for your startup, so why not keep the job until the business is thriving and it would be foolish to NOT quit it?

My 2 priorities for these are 1.)Money 2.) Experience (experience essential for later wich i can use for other things to)

I believe other users are misinterpreting this line - correct me if I am wrong, but I believe what you are saying is that you only have the job as a dishwasher for the money and for the experience. You are NOT saying that those are your goals for your own personal business. Those are great goals to have with a job, and frankly is why 99% of people have jobs in the first place. I hope your goals for your own business are completely different.

So thats basicly what i know about myself, i don't really know myself yet.

You are going to need to know yourself better in order to establish the goals for your personal life and for your business. If you don't know who you are and what you seek in life, you won't be able to adjust the way you run your business and carry yourself to line up with your goals.

I want you to choose the 2 best options for me again much apreciation.

No one can pick your business for you. That's your decision and it shouldn't be an easy one. Pick something that you enjoy and won't mind spending hours working on. Pick something you have prior experience with. Pick something that coincides with your personality and your aspirations. That being said, what users on the forum CAN do is give their personal opinion on the items and that can help guide you. (Notice I said guide and not 'pick for you').

My opinions:
· Internet Marketing - Has potential. Takes a lot of time and knowledge, but if you know what you are doing you have the ability to make good money.
· Copywriting - I am going to take a risk and say you won't be able to write copy effectively without a LOT of training. I write copy and I write articles, I would consider my self a 'good' writer, but nowhere near perfect. But one thing I do well is pay attention to grammar, structure my work well, capitalize and punctuate correctly, and use attention grabbing terms. I saw a lack in your writing of the initial post as well as your responses. The things I mentioned are the barebones of writing copy, the basics, and without them writing copy will be extremely difficult for you.
· Marketing - Same as for Internet Marketing, but personal connections and communications skills are necessary. Not to mention it is a very competitive niche.
· Ecommerce Stores Could be good, requires a bit of setup and a good product and marketing, but after that is pretty hands free and a good source of passive income. Marketing is key here.
· Stocks - An excruciating amount of knowledge is needed for this. I study the stock market, read books, and founded the Investment Club at my school, and I still probably know less than 2% of what is out there. Also this requires a lot of initial capital.
· Ebooks - This could be a great option for you. An editor will be necessary to fix your writing errors, but as long as you enjoy writing and use the tools available to market your books, this could make a good amount of money for the time invested. Passive income is a possibility here as well. A user named "HeldForRansom" has a great thread on becoming a freelance writer, I would also recommend "How to Write a Book This Weekend" by Vic Johnson.
· MLM (Multi level Marketing) - NONONONONONONONONONONO NO! Don't even consider them. There are DOZENS of threads around here explaining why MLMs are horrible businesses to get involved with. STEER CLEAR.
· Web Developer - Lots of background knowledge and experience is needed. Market is saturated with people all over the world offering their services for unbelievably low prices.
· Telemarketing - I don't know much about it, but from what I do it is a bad investment in terms of money for time put in. The wages are low and the hours are long.
· Leveraged Buyout - Lots of capital is required as well as experience. Table this for the future.
· hedge-fund manager - See previous description.
· Real Estate - This also has good potential. A bit of knowledge is required in the beginning, but experience will get you everywhere. You will most likely have to start working for a current Real Estate Investor doing small tasks, or possibly bird dogging, but eventually you will have the knowledge and experience to go out on your own. This will build connections as well.
· Inventing - Too broad for me to tackle.
· Innovating - Too broad for me to tackle.
· Licensing - Too broad for me to tackle.
· Authoring - Not sure if you are referring to "authoring" books or not, if you are see the Ebooks description.
· Sales - Definitely a possibility. Sales are great because you are generally paid for the work you do, and you gain a lot of experience and connections that will help you. Great position for learning and making decent money at the same time.
· Marketing - Basically covered these earlier.
· Making apps - Good possibility. This is one of the things that I dabble in. More funding and overseeing the projects rather than doing the coding and design. If you go the route I do I have a LOT of information I could share, I'd be happy to share it with you if you contact me. Coding requires a lot of knowledge and experience and it is much easier to hire a developer to do it for you. Decent amount of capital required. Lots of room to make good money from an app, residual income is a definite possibility.
· Poker - No. Too risky. Forms bad habits. Not even a real "business". Requires lots of experience and knowledge.
· Network Marketing - See other marketing descriptions.
· Seo - Don't know enough to comment on this.

I won't make the choice for you, but by reading the descriptions you should be able to get a good feel for where my opinion stands.

The biggest thing is to quit planning and daydreaming and start doing. The experience is worth your while. Out of failures come successes, don't be afraid to try and fail.

I picked up this quote somewhere. Whether I heard it from someone or read it and tweaked it, I have no clue. But it is my favorite quote and every time I fail I think about it.

"It won't make a great success story if there aren't any obstacles for you to overcome"

Best of luck to you 16yearoldboy. I am here to be contacted to answer further questions you may have, and there are other individuals on this forum cheering for you to succeed as well. You just need to find them and not ask too much. Don't sit back and soak in the information fed to you, share your own information, it's a give take relationship, a two way street.

Cheers!
- Sam -

 

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[Brentnal]

I believe other users are misinterpreting this line - correct me if I am wrong, but I believe what you are saying is that you only have the job as a dishwasher for the money and for the experience. You are NOT saying that those are your goals for your own personal business. Those are great goals to have with a job, and frankly is why 99% of people have jobs in the first place. I hope your goals for your own business are completely different.

I got the job for the money that is the only reason and that i do something with all my time and not be bored all the time.
As for the experience there is really nothing to learn really as a dishwasher.
It was a typing fault so people indeed misintrepeted the line.

Does the align with your goals to be self sufficient? What you study should directly benefit what you plan to do business wise, if it doesn't, then why even bother with school?

i got a few goals for the future: earning a minimum income of 2000 a month on my own,Be musculair,Get my drivers licence,And my long term goal be a millionair,once i succeed with a goal ill make a new one so that i have something to live foor.
I don't know what i would like to do when i am older i am just studying this because i learn about how finances work and stuff after a few years i can learn how stocks work or something else.

· MLM (Multi level Marketing) - NONONONONONONONONONONO NO! Don't even consider them. There are DOZENS of threads around here explaining why MLMs are horrible businesses to get involved with. STEER CLEAR.

I mean my own MLM not for somebody else.
______________________________________________________________________________________________________________

I am very interested in Sales and marketing and ecommercestore because i like to be busy and active and i like to see progress and just selling stuff. And i can use the sales experience for real estate and then use marketing for more traffic,then when i am older if i like i can for example learn stocks or something that would be a good idea for now ill stick to sales i always wanted to do that anyway and you are not the first to say i should do sales so i will do that.

Thank you for all the info i have given you speed you deserve it for such an informational post

Greetings
Roy

 

[paqman]

Roy,

Speaking from a role as a parent... Having had 1 kid already pass the 16y/o mark, and another hitting it in a month... and a couple more shortly behind.

#1 Priority: Go outside, socialize, play sports - focus on being a kid/youth. Learn about interacting with people (older, younger, same age), trying new things, taking chances (dating/relationships), experience all that you can before you are forced to be "grown up".

I know it seems that life is moving fast, but stop and check yourself and enjoy all that you can at your current age. Hell, you don't even have a license and a car. That is a HUGE life changer for most people your age. Freedom, responsibility, etc.

When you (if this applies in your country) finish your education (pre-Univ), then start looking at how to make money. Or better yet, have your plans in place, then make yourself a promise: "When I turn 18 y/o, I'll have spent every possible second of the last 2 years squeezing all that I can out of life as a "kid" and can focus on building businesses"

I've known many younger entrepreneurs that want to start too early. If you have good balance, keeping life/work in check, go for it. At your age, this will have a ton of influence from your parents and their current roles in work/life.

Never lose the fire of wanting to create, start your own biz, make money, save the world... But meet it with tempered restraint, unresolved passion and commitment, and perseverance.

Your goal right now is to learn how to fail, take rejection, take risks, socialize and develop friendships, expand your comfort zone. These will all play a huge factor in your ability to succeed - not just in business, but in life.

I've met plenty of retired, under 40, completely MISERABLE people who missed out on opportunities for life, love and happiness in the pursuit of a misguided end goal. Money can't buy you love, happiness and all that - but it sure makes life better when you HAVE IT!!

Good luck!

 

[Brentnal]

Speaking from a role as a parent... Having had 1 kid already pass the 16y/o mark, and another hitting it in a month... and a couple more shortly behind.

#1 Priority: Go outside, socialize, play sports - focus on being a kid/youth. Learn about interacting with people (older, younger, same age), trying new things, taking chances (dating/relationships), experience all that you can before you are forced to be "grown up".

I know it seems that life is moving fast, but stop and check yourself and enjoy all that you can at your current age. Hell, you don't even have a license and a car. That is a HUGE life changer for most people your age. Freedom, responsibility, etc.

When you (if this applies in your country) finish your education (pre-Univ), then start looking at how to make money. Or better yet, have your plans in place, then make yourself a promise: "When I turn 18 y/o, I'll have spent every possible second of the last 2 years squeezing all that I can out of life as a "kid" and can focus on building businesses"

I like what i am doing now studying and working on my future that way i feel like i am doing something useful other than playing games all day that i was doing before i started reading books.
I am very happy the way i am now i want to be an adult and have responsebilities it is realy boring playing games all day and just doing nothing really some people say i want to be young again but you have much more to do when you are older and of course the money if teens have no money they gotta work to get the entertainment so basicly they are a little adult so it really doesn't matter i think i am happy with my life and i like my goal of being a millionaire before my 30th.

 

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