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How I just started my business and how YOU can too!

dkt91

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It's been a few months since I joined the Fastlane Forums, it was in August 2008. Back then it was my dream to become CEO of some big company. I thought THIS was the way I had to choose if I wanted to become rich. Back then, guys, I didn't know what 'rich' means.

Then I almost accidentally found the Fastlane, I read MJs articles and within just a few minutes my life changed. Literally. MJ helped me find out what I really wanted: Starting my own company and becoming not wealthy but rich.

So far so good - I spent a lot of times reading this forum and whenever I could I shared the knowledge I had absorbed from either the forum or one of the great books I read. I tried to start some companies, I always failed because I didn't even manage to get them running. But I went through a couple of learning processes and I eventually managed to register my company Thursday last week.

However, today is the day that matters. Today I made my first sale, I made my first money. I earned exactly 520€ from that first sale. For this money I had to work for around 2 hours. Guys, before I found the Fastlane I would have called anybody who says he makes 260€ per hour totally nuts. But it's real. I've just done it myself. Just for information: I'm 17, I go to high school and I had around 400€ on my bank account before this deal. Would you believe it?

But now let's get to the important part of this post: I want to tell YOU how YOU can finally start your business if you are one of the people who struggle at getting started just like I did. Learn from my mistakes as well as from the things I did well.


First of all: It doesn't matter who you are. Your age is not important. Nor is your gender, the country you live in, your looks, your hobbies, how much money you have right now or your education. None of these things can keep you from getting started, OK! I stopped counting the people who told me to not even get started because I was too young and had not college degree. DO NOT let those people EVER discourage you, OK! Don't listen to those who have less but listen to the guys in this forum! Not getting started is NOT an option. GET STARTED!!

But how? You will probably ask. How can I get started? OK, I'll tell you:


1.) First of all you need an idea. The big mistake people often make at this point is that they think an idea = reinvent the wheel. You don't have to. Find something existing and make it better or just find something existing and market it. Energy Drinks did exist before Red Bull came - Energy Drinks were not invented by Red Bull. But still the founder of Red Bull is a billionaire today.
While looking for your idea don't think about how you can make this or that amount of money but think about how you can serve this or that need. Believe me, this is going to help you a lot.
Also don't overcomplicate you idea. Find something simple and keep it simple. And find something that you can put into practice within the next 2-3 months with the money you have on your bank account right now. Can't find anything? Keep searching. Either for a new idea or a new solution!

2.) Do it. Just do it. Is there anything that keeps you from doing it? Put it out of your way. This highway belongs to you and you are responsible to make it passable. Nobody is going to take you by the hand and help you. Don't make excuses and even more important be as persistent as it gets.

3.) Get to know the right people. Not ideas or freshly founded companies make people successful. In fact the only thing that can make people successful is people. People make people successful!

4.) Think big, always. You think about becoming the market leader in your town? Why don't you think about becoming the global market leader. As long as you are going to be thinking anyway you might as well think big (credits to Donald Trump). People who do the same stuff as I usually earn around 25€ per hour. Why did I just make 260€? Because I thought BIG. Why settle for less? Why be like everyone else? Many people fail or are underpaid. Find solutions to avoid becoming part of "many people".


That's in my opinion the most important point on the way to getting started. Now let's have a look at my unsuccessful tries to start a business:


1.) I tried to start an innovative E-Business. I stopped working on it after I discovered I would have to face some competition.

- Competition shows that a market is lucrative. Never be feared by competition but let the competition be feared of YOU. Come up with something they cannot offer to their clients and be different. That there is already competition for the great, innovative idea you have is NOT an excuse.


2.) I wanted to offer some kind of special swimming shorts. For my products I would have needed a certain fabric, though, which I couldn't find so I gave up.

- I lacked the necessary persistence. If I had looked for it even harder, had phoned more people and not let them go until I got what I wanted this one would probably have become a success. Be persistent!


3.) Another E-Business. It was a really good idea but it turned out to be too expensive for me to do. Three months later the E-Business I had planned was on the news. Someone else had done it and had become a millionaire literally over night.

- If you are really convinced by an idea do EVERYTHING to get the money you need for it. Or the other option: Don't think of ideas that are going to cost you a lot of money...



I did a great step today and you can, too. Thanks to every single member of this forum and especially MJ who is making all this possible. Y'all have changed my life!
 
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yveskleinsky

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++rep. Talk about speeding through the learning curve! You zoomed right through the process of learning to applying to refining very quickly--with great results! I am so thrilled for you! Keep up the great work, and just know that you are a true inspiration and testament to what it means to succeed...and think you got started so young. Keep learning, keep growing and most of all keep us posted! :)
 

365

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Great post!
You are totally right: dont be scared by competition. I think a lot of people pick niches that are too small to avoid all competition.
Your post also shows a lot of self-confidence - which I think is pretty important to successfully start a business (or many..).


Have they finally let you incorporate your business?
 

dkt91

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Have they finally let you incorporate your business?

Yep... they did. Even though it was a long, fierce fight against bureaucracy in the end I made it and that's what counts!
 
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BryanC

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Oct 20, 2008
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Wow, what a phenomenal post. Definitely rep+++ you got the idea man. Seriously, you got it ingrained too. You realize most people will never make that amount of money in one day in their whole lives. You did it before you were 18. I can't wait to read more of your posts and see what you're up to next. :smx9:
 

dkt91

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The age of majority is 18 in Germany - just like it is in America. However, we have a law that allows minors to incorporate if a) their parents agree and b) a couple of reports are made about the underaged person and their planned business by some experts. These reports have to be sent to a special court. There they decide if you get the permission.

So far the theory... in reality it is not so easy because most 'experts' or courts have never dealt with a case like this and thus don't know what to do. Actually they wanted to keep me waiting for like 9 months which would have been quite useless to me because I'd have been 18 already until I would have gotten my permission.
So I had to find the right people to talk to in order to speed the process up a little. All in all it took me a bit more than a month to get the permission. It was all about persistence. If you're persistent you can accomplish everything you can imagine and others can only dream of - that's what I learned...


@Elliott
The age which is lower in Europe (and especially Germany) you're referring to is probably the drinking age (16 in Germany, 18 in most of the other European countries)... ;)
 

dkt91

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I guess it's time for an update :)

So after this really glorious start I had a rather tough time and somehow felt as if I was dogged by bad luck. I just wouldn't get any new clients nor would I really move anything else. But I kept working hard on my goals and hard work is always rewarded. Everything in life is luck and the harder your work the luckier you get. It's that simple.

The result of my hard work is that I left the bad times behind and now things are even better than before. I managed to get to know some competent people who are going to help me A LOT with the planned expansion of my business.


What I've learned:

- Ups and downs are a normal thing. Just keep working hard on your goals and dreams!
- If you don't know how to proceed - someone else does.


I'll keep y'all posted!
 

Davidla

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Great post!

I tried to build some businesses when I was your age, but wasn't persistant enough to make them succeed, mainly because I myself somewhere believed that building a serious business at 18 isn't practical...

Its wonderful to witness your confidence, success & persistance!
 

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