Absar
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- Jan 9, 2023
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When there's a will, there's a way.Hey, young Fastlaners,
Today, I want to discuss a challenge that many of us face as minors on the Fastlane: the pain of not having a credit card. It's frustrating how numerous online services, essential for setting up a fastlane business, require credit card payments, which we don't have access to. While asking our parents or older friends for help might be tempting, it can feel uncomfortable and put them in an awkward position. Moreover, it's not fair or ethical to burden them with our financial needs. Some platforms offer PayPal as an alternative for minors, but it comes with risks. If they find out we're underage, they can freeze our accounts and withhold our money, leaving us empty-handed. But let's not dwell on the limitations. Instead, let's focus on viable solutions. We may not be able to purchase web hosting and certain software, but that doesn't mean we can't explore other business ideas that don't require such resources.
Another significant challenge for us minors is our inability to enter into legally binding contracts. This restriction can hinder our ability to expand our ventures or collaborate with partners who require contractual agreements.However, don't be disheartened. We can still work within these limitations and pave the way for our future success. As we overcome these challenges now, we build resilience and skills that will serve us well as we progress into adulthood.
So, let's stay determined, creative, and resourceful. Instead of being discouraged by the obstacles, let's view them as opportunities to find innovative solutions. With focus and perseverance, we can carve our paths in the fast lane and achieve our entrepreneurial dreams.
Together, let's rise above these hurdles and prove that age is not a barrier to success. Our dedication and hard work will lead us to brighter horizons, and we will make our mark in the business world.
Keep moving forward, young Fastlaners, and remember, the future holds great promise for those who dare to chase their dreams.
As a small overview I wrote down the things you can sell and what you cannot really when you´re a minor fastlaner:
Possible Not Possible (Or limited) Selling Services | Because it is a really easy way to sell something... if you are good and can deliver value (Solve a problem etc.) [Btw. both physical and digital] Building Software | Because of the cost of hosting, APIs and if you don´t build it on your own: for programmers on sites like Fiverr or Upwork. Selling Physical Products You don´t need a Manufacturer to produce for you | Because you don´t have to sign a contract | Examples: 3D Prints or handmade stuff. Selling Risk (Insurance) Well at least in the traditional sense of selling life insurance or so. For your own products you of course can sell insurance (Like Apple with Apple Care). Selling digital products | But be aware of this fact: Most digital products violate the cEnts principle (Entry) because everyone and their mom can create a shitty e-Book. Selling Physical Products you need a Manufacturer to produce for you | Because you have to sign a contract which you can´t as a minor Selling Digital Access | Example would be an online library of content like Netflix. You could sell access to something where you provide valuable information or so. Selling Physical Access | Leasing a building as an example. Not possible at a Fastlane scale because you a) don´t have the money and b) can´t lease it because of legal stuff. Selling Digital Attention | If you have a following on Social Media then you can sell attention. Actually, most people would say Advertising. But at its core, it´s the attention that you sell. Selling Physical Attention | I mean theoretically possible I guess but which person our age would a) have the money for a billboard and b) buy a billboard? Selling Digital Money | Yes like Crypto. Do I advise you to do it? No. Because you can lose a shit ton of money and most of the crypto world seems a bit sus to me (Ponzi). Selling physical Money | I don´t think the government allows kids to start a bank. And even if what money are you going to sell anyways? Selling physical endorsement/brand | Earn from your logo on someone else's shirt. You get a percentage of their sales.(Franchising) You can also sell digital brands. Selling digital endorsement | Just like the blue checkmark on Twitter that allowed "Jesus" to be verified. But you can´t do it because you can´t buy hosting for your site, remember?
And of course, you can stack the things. Like Instagram sells attention and endorsement. Or rock concerts sell access as well as drinks and t-shirts.
So, my young fastlaners, let's keep hustling, get creative, and prove that age is just a number when it comes to chasing our dreams. We've got this!
I would love to read your comments and have a discussion with you guys!
John Paul