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Young Entrepreneurs... Read This

Solomon

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Before I tell the story, let me give you a little background info...

I'm currently 19 years old. I'd been a "wantrepreneur" since I was 14.

Constantly Googling "business ideas", "how to make passive income", "how to earn a living online" etc.

I had big dreams of living a lavish lifestyle, working 10 hours a week while reaping massive results in CA$H.

I even told my friends and family tall tales of how I was "working on my business" - whilst I was actually just reading: HOW TO MAKE $10K OVERNIGHT! FOLLOW THESE STEPS TO EARN 50K/MONTH! until 1AM in the morning.

You get the picture.

I loved the idea of being an Entrepreneur. I romanticized what being an Entrepreneur was about. I called myself an Entrepreneur but never took any action.

Fast forward a few years, I went to a tertiary school as per my parents request. I got my Certification in Logistics, and got a job in the freight forwarding industry almost immediately.

Salaried position, measly $36k a year. (New Zealand Dollars)

$36,000 per year to work 40+ hours a week. 4 Hours commute a day.
All that time thrown in the trash to put up with office politics, menopausal managers having cat-fights daily - all this plus working 10-12 hour days, no paid overtime.

"Is this what the next 40 years of my life is supposed to be?"

I said screw you, and left that job after 8 months. Now 18 years old.

I wanted no more of corporate life. Now unemployed, $300 left in my bank account. What did I do?


I took MASSIVE action.

In a time frame of two weeks, I did local market research, bought all necessary equipment, built a website, got flyers/business cards and a uniform.

I started a local Window Cleaning service.

Now this is by no means "fastlane".

However now I am working less than 30 hours a week. Compared to my corporate job, I make almost a months worth of wages in a week. I get to be outside in the sun, working in million-dollar neighborhoods, and I can take time off whenever I want. This supports me while I put time into creating my fastlane business (infoproduct) .

At 19 years old: I am now free, happy, and more wealthy than some people two times my age.

This is because instead of dreaming, I TOOK ACTION ON SOMETHING.

Look where it got me.

___


If you're currently looking for "the perfect idea" or "ways to make easy money" yadda yadda...
Stop. Just look for somewhere that you can help people. Do something other people don't want to do/don't have time to do.

And do it.

It probably won't be a sexy business. Window cleaning isn't sexy.

But there is money to be made EVERYWHERE.

You do NOT have to slave your life away in an office with drab people that you hate.

FIND A NEED. FILL THE NEED. MAKE MONEY.

Anyways this is so messily written and all over the place, but I hope it inspires one of you fellow teen entrepreneurs who are still living at home to take action on something. Stop reading and start doing.
 
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AgainstAllOdds

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However now I am working less than 30 hours a week. Compared to my corporate job, I make almost a months worth of wages in a week. I get to be outside in the sun, working in million-dollar neighborhoods, and I can take time off whenever I want. This supports me while I put time into creating my fastlane business (infoproduct) .

Why are you creating an infoproduct?

From the details you've given, you're making 144,000 New Zealand Dollars a year ($104k USD).

You're making this working less than 30 hours a week. Meaning that at 40 hours a week, you'd stand to make an annual $192,000 NZD.

That's for a skill that's easier than being a freight forwarder. And you were only getting paid $36,000 NZD for being a freight forwarder.

...

So my question: why not scale the window washing business? You can outsource all the boring stuff, and make a huge income on getting clients, and managing employees.

Let's say you can go to another area, and find clients the same way. And let's say you can hire two freight forwarder friends to clean windows, that would be half as efficient. Well in that case, here's how the math would work:

$192,000 NZD : Annual Income
( 72,000) NZD: Employee Expense

120,000 NZD: Annual Profit

You stand to make $120,000 NZD off of "repeating" what you're doing once. That's a lot of money. Repeat the process ten times and you have a huge business.

So once again, my question: why are you creating an infoproduct?
 

nradam123

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Awesome.
I heard dishwashing, gardening and ironing also makes a lot of money :)


Im srs
 

Solomon

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Why are you creating an infoproduct?

From the details you've given, you're making 144,000 New Zealand Dollars a year ($104k USD).

You're making this working less than 30 hours a week. Meaning that at 40 hours a week, you'd stand to make an annual $192,000 NZD.

That's for a skill that's easier than being a freight forwarder. And you were only getting paid $36,000 NZD for being a freight forwarder.

...

So my question: why not scale the window washing business? You can outsource all the boring stuff, and make a huge income on getting clients, and managing employees.

Let's say you can go to another area, and find clients the same way. And let's say you can hire two freight forwarder friends to clean windows, that would be half as efficient. Well in that case, here's how the math would work:

$192,000 NZD : Annual Income
( 72,000) NZD: Employee Expense

120,000 NZD: Annual Profit

You stand to make $120,000 NZD off of "repeating" what you're doing once. That's a lot of money. Repeat the process ten times and you have a huge business.

So once again, my question: why are you creating an infoproduct?

Yes I have considered this and will be doing so in the future.

However right now I'm focusing on creating multiple sources of income. The window cleaning business is doing just fine right now so I'm trying the online route.

Not keeping all my eggs in one basket.


Sent from my iPhone using Tapatalk
 
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Mikkel

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Awesome job @Solomon for taking action! I also agree with @AgainstAllOdds on this one though. I think you could expand this business 10x if you put just a bit of energy into expanding.

Rather than hiring people, which costs money(paying them + insurance) and time(writing out checks.) If I were you, I would see if you could hire cub-contractors. I assume your work is going well at the moment. If you have an extra job or two that could get done within the week, but you are to busy, you could try hiring that sub-contractor. You write up the estimate, sub-contractor does the work, you give them a cut of the check, and you walk away that much more wealthier.

I find this way much more appealing to myself, anyway.

Anyways, great work! Keep up the good work.
 

OldFaithful

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However now I am working less than 30 hours a week. Compared to my corporate job, I make almost a months worth of wages in a week. I get to be outside in the sun, working in million-dollar neighborhoods, and I can take time off whenever I want.
That's awesome! Thanks for sharing this story.
 

TheGrind

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Awesome job @Solomon for taking action! I also agree with @AgainstAllOdds on this one though. I think you could expand this business 10x if you put just a bit of energy into expanding.

Rather than hiring people, which costs money(paying them + insurance) and time(writing out checks.) If I were you, I would see if you could hire cub-contractors. I assume your work is going well at the moment. If you have an extra job or two that could get done within the week, but you are to busy, you could try hiring that sub-contractor. You write up the estimate, sub-contractor does the work, you give them a cut of the check, and you walk away that much more wealthier.

I find this way much more appealing to myself, anyway.

Anyways, great work! Keep up the good work.
It's been my experience that dealing with sub-contractors is a bitch simply because the IRS is so strict about it. Not sure about the laws of it in New Zealand.

OP, what equipment is needed to start a window cleaning business? I've been trying to expand into a local brick and mortar business myself and it seems like a good field.
 
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Solomon

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It's been my experience that dealing with sub-contractors is a bitch simply because the IRS is so strict about it. Not sure about the laws of it in New Zealand.

OP, what equipment is needed to start a window cleaning business? I've been trying to expand into a local brick and mortar business myself and it seems like a good field.

Just a squeegee, TBar, and a bucket will do you fine to start out.

I started with:
1x 12.5cm Squeegee
1x 35cm Squeegee
1x Sponge
1x TBar Applicator
1x Extendable Pole
1x Adjustable A-Frame Ladder
10x Microfibre hand towels
1x Bucket

And for the window cleaning solution just use a capful of white vinegar and 2 Tbsp of dishwashing liquid.

As for brand of equipment , I'd go with Ettore (top quality) or Pulex (second to Ettore, more affordable, good quality)

And for your first clients, just walk into stripmalls/plazas and offer to clean their storefront windows on a weekly/biweekly basis.

$15-$30 a store and only takes ~10 minutes to clean.

Once you've saved some more capital from storefronts you can get liability insurance and move on to residential window cleaning.

Aim for high-income homes.

One house can bet you $200-600+ profit for a couple hours work, and these people WILL PAY A PREMIUM for your service if you do a good job.

Generally you'll only be cleaning residentials on a quarterly/half year basis. So work on building a good list of accounts to keep that sweet premium $$$ flowing in.

Good luck if you do try this. It's honest and satisfying work.
 

TheGrind

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Just a squeegee, TBar, and a bucket will do you fine to start out.

I started with:
1x 12.5cm Squeegee
1x 35cm Squeegee
1x Sponge
1x TBar Applicator
1x Extendable Pole
1x Adjustable A-Frame Ladder
10x Microfibre hand towels
1x Bucket

And for the window cleaning solution just use a capful of white vinegar and 2 Tbsp of dishwashing liquid.

As for brand of equipment , I'd go with Ettore (top quality) or Pulex (second to Ettore, more affordable, good quality)

And for your first clients, just walk into stripmalls/plazas and offer to clean their storefront windows on a weekly/biweekly basis.

$15-$30 a store and only takes ~10 minutes to clean.

Once you've saved some more capital from storefronts you can get liability insurance and move on to residential window cleaning.

Aim for high-income homes.

One house can bet you $200-600+ profit for a couple hours work, and these people WILL PAY A PREMIUM for your service if you do a good job.

Generally you'll only be cleaning residentials on a quarterly/half year basis. So work on building a good list of accounts to keep that sweet premium $$$ flowing in.

Good luck if you do try this. It's honest and satisfying work.
Do you have any commercial clients or do you stick with residential?

Also I've heard ladders are dangerous. I saw this one tool that let you reach higher levels without a ladder but it was like $3500 or something.
 

GMSI7D

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i have never seen so much young successful entrepreneurs outside this forum.

this is unbelieavable,

we might not live on the same planet.
 
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Solomon

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Do you have any commercial clients or do you stick with residential?

Also I've heard ladders are dangerous. I saw this one tool that let you reach higher levels without a ladder but it was like $3500 or something.

Both. Commercial is a stable income and is done regularly so I always keep doing these accounts. However 90% of my income comes from residential.

Yes ladders are dangerous. I never lean them against the house. Just set it up A-Frame and use the extendable pole to reach up to the high Windows.

When I first started I just did large single storey homes and turned down anything double storey+.

Still plenty of money to be made on single storey houses if you aren't keen on using the ladder.
 

Random_0

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You're definitely in the right business to scale - your employees can be trained on the job in a very short time period.

Test some up-sells for expansion - driveway car cleaning addons?

Good luck mate
 

Bruno Lara

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Before I tell the story, let me give you a little background info...

I'm currently 19 years old. I'd been a "wantrepreneur" since I was 14.

Constantly Googling "business ideas", "how to make passive income", "how to earn a living online" etc.

I had big dreams of living a lavish lifestyle, working 10 hours a week while reaping massive results in CA$H.

I even told my friends and family tall tales of how I was "working on my business" - whilst I was actually just reading: HOW TO MAKE $10K OVERNIGHT! FOLLOW THESE STEPS TO EARN 50K/MONTH! until 1AM in the morning.

You get the picture.

I loved the idea of being an Entrepreneur. I romanticized what being an Entrepreneur was about. I called myself an Entrepreneur but never took any action.

Fast forward a few years, I went to a tertiary school as per my parents request. I got my Certification in Logistics, and got a job in the freight forwarding industry almost immediately.

Salaried position, measly $36k a year. (New Zealand Dollars)

$36,000 per year to work 40+ hours a week. 4 Hours commute a day.
All that time thrown in the trash to put up with office politics, menopausal managers having cat-fights daily - all this plus working 10-12 hour days, no paid overtime.

"Is this what the next 40 years of my life is supposed to be?"

I said screw you, and left that job after 8 months. Now 18 years old.

I wanted no more of corporate life. Now unemployed, $300 left in my bank account. What did I do?


I took MASSIVE action.

In a time frame of two weeks, I did local market research, bought all necessary equipment, built a website, got flyers/business cards and a uniform.

I started a local Window Cleaning service.

Now this is by no means "fastlane".

However now I am working less than 30 hours a week. Compared to my corporate job, I make almost a months worth of wages in a week. I get to be outside in the sun, working in million-dollar neighborhoods, and I can take time off whenever I want. This supports me while I put time into creating my fastlane business (infoproduct) .

At 19 years old: I am now free, happy, and more wealthy than some people two times my age.

This is because instead of dreaming, I TOOK ACTION ON SOMETHING.

Look where it got me.

___


If you're currently looking for "the perfect idea" or "ways to make easy money" yadda yadda...
Stop. Just look for somewhere that you can help people. Do something other people don't want to do/don't have time to do.

And do it.

It probably won't be a sexy business. Window cleaning isn't sexy.

But there is money to be made EVERYWHERE.

You do NOT have to slave your life away in an office with drab people that you hate.

FIND A NEED. FILL THE NEED. MAKE MONEY.

Anyways this is so messily written and all over the place, but I hope it inspires one of you fellow teen entrepreneurs who are still living at home to take action on something. Stop reading and start doing.

Hey man, how you doing?
Happy to hear about your success!

I was thinking...since most people hire a maid to do all work on a house...what would make people pay you to clean their windows when they have a maid that will do so?
 
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Solomon

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Hey man, how you doing?
Happy to hear about your success!

I was thinking...since most people hire a maid to do all work on a house...what would make people pay you to clean their windows when they have a maid that will do so?

Fortunately, it's uncommon in New Zealand to have a maid.

Plus I market my business as a "premium, high end" window cleaning service.

It's all in the branding/marketing.
 
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AgainstAllOdds

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Yes I have considered this and will be doing so in the future.

However right now I'm focusing on creating multiple sources of income. The window cleaning business is doing just fine right now so I'm trying the online route.

Not keeping all my eggs in one basket.

There's nothing wrong with running 1 business, making a lot of money from it, and setting that cash aside for future investments.

If your business crashes, then you'll have a lot of cash to start something new.
 

Green Destiny

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Good job!

I guess New Zealand must be more civilised than where I live. If I started a window cleaning round on someone's patch I'd have my legs broken within a week!

Not exaggerating.
 

lewj24

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This thread is crazy. @Mr4213 made up a fake business example about a month and a half ago and it is shockingly identical to @Solomon's real life story. I had some hardcore déjà vu reading this story and had to find this. https://www.thefastlaneforum.com/community/threads/dont-overthink-business.68728/#post-546310
I am going to form a imaginary example based on $20k a year.

Say we have a McDonald's worker working 40 hours a week. Most of them make $7.25/hr. Lets give our boy a raise to $10/hr (I am a medic with a few certifications and the most I ever got was $10/hr) so he makes (almost) $20k a year.

Here is Bob and Bob is a black and white thinker. Bob is 19.

Now we have our boy Joe here

Joe is 15 and in high school. Joe has enough time during the week to work 25 hours while going to school. Joe needs money because his family is poor. Joe goes to the local Mcdonalds to get his first ever job. Joe goes to his interview and then they offer him 7.25/hr.

But Joe is no ordinary 15 year old. Joe is not a black and white thinker. Joe is a creative 15 year old.

Joe is a smart cat.

Joe says F*ck that, he goes home and goes to bed thinking.

The next Saturday morning Joe wakes up and goes straight to the local Walmart.

Joe buys a squeegee, dish soap, a bucket, and a squeegee mop. (Or maybe even borrowed it from friends to save money)

Joe goes home and practices cleaning his window practicing his technique. Joe practices for a month straight for 6 hours a day and gets really good and fast at it. Joe also spends this time learning how to sell by reading and other methods.

Then Joe takes his supplies and goes to a strip mall. Joe knows the average local market price to clean an averaged sized businesses windows is $60 low end and $80 high end for a basic clean. He knows it takes about 20 minutes for the whole job to be completed if you are really slow. Joe knows the price because he mystery shopped all the local businesses around and found the average.

But Joe practiced and is really fast. He can do it in 10 minutes easy. He also practiced his sales technique and is very creative when it comes to talking with people.

Joe is only 15 and in high school. Joe has virtually 0 overhead. Joe knows he could charge a whopping $8.25 for the same basic $60 job. If he did two jobs like that at $8.25 in one hour Joe just made $16.50 a hour untaxed. (But Joe is a good american citizen and pays taxes anyways)

Joe could spend 40 minutes walking from store to store and close two deals for a basic window wash. Then spend 20 minutes doing both the jobs and make $16.50 a hour. Joe cant because of school, but if Joe did do that 40 hours a week. Joe would make $660/week. $2640/month. And $31,680 a year without a diploma. Which is probably more than the manager who tried to pay him $7.25. Or at least close. And he would make FAR more than our boy Bob.

But Joe is not stupid. Joe decides he will charge around just half of the average low end rate for the basic window wash. About $35. He goes to local strip malls which have around 7-10 businesses each. Talks with the managers/owners and explains to them the importance of a nice clean window for a business. Joe tells one owner of a small restaurant "No one wants to look out a dirty nasty window while they eat..yada...and I will even do it for you half off!...yada.." The owner looks at the windows and sees that they are nasty as F*ck. The kid is right! He gladly decides to help the young man by paying him $30 for a basic window wash.

Joe gets a lot of nos. But there are a TON of businesses around. On average Joe can close two $30 basic window washing jobs in 40 minutes if he works hard. Once again he then spends 20 minutes cleaning the windows. Joe makes $60/hr, before paying taxes of course.

Joe can only work 25 hours a week because he goes to high school. At 15 Joe now makes 60/hr @ 25 hours a week. $1,500/week. $6,000/month. And $72,000/year (before paying taxes of course)

At 15 as a freshman in high school Joe makes more than the average college graduate (Which is around $50,000 depending where you look) and he only works 25 hours a week. Joe hates how he is told what and where to go at school. Joe is no ones slave he says to himself. Joe wants to spend his time doing what he wants to do. (Pretending he can) Joe drops out and does it full time.

Joe now makes $60/hr and works 40 hours a week. $2,400/week. $9,600/month. And $115,200 a year. Not bad Joe tells himself. But Joe wants more because he is hungry. Joe expands into residential and hits up the houses. He uses the money he made to buy more equipment and now offers even more services that he can use to upsell his customers with. Joe signs contracts with all the people and businesses he works with. He does each house and business once every two weeks.

Joe finds some 20 year old college students that need money to afford school and pays them $9/hr to drive the work trucks he bought and clean windows.

Eventually Joe structures his company and franchises it out.

Joe works hard and automates his system. By the time Joe is 18 he retires off the passive income and manages it correctly.

Looking back Joe is very happy he decided to drop out and start his business. Instead of working at Mcdonalds for $7.25/hr. Had Joe did that he would be in debt at college and miserable.
 
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Mr4213

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This is beautiful. I congratulate you in your simplistic approach to a simple business to make simple money. Simple doesn't mean a small amount. Of people, of work, or money, or anything. It just means you didn't over complicate things.

Might look into this. Thought about doing maid, had a website, hired some maids, realized i couldn't clean a damn thing if maids decided to not show up or cancel. I can definitely wash windows though. This would be a good way to add like you said, a another revenue stream and a great learning experience.
 

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Good for you @Solomon. Taking action is something most people don't do and or find difficult. The risks you don't take can sometimes riskier than the ones you do.
 

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Holy shit, OP! Your post just blew my mind. I'm stop romanticizing business right now and gonna start executing my idea. Thank you from my heart. Wish you all success!

I agree with @AgainstAllOdds. It sounds like you're already in business, and there's no better time to start scaling it.

Try taking on 1 cleaner. I'm 99.9% sure you won't regret.

Here's a solid resource (Facebook group) for local service businesses: https://www.facebook.com/groups/groovelearning/

You'll learn a shit-ton over there.
Thanks for that group, buddy.
 

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