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I am going to show you guys who have never been in business before just how F*cking simple it can really be and why I love business so much. I used to overthink shit and I thought I needed the next big thing.
This is also for you young guys in high school who are trying to make more than minimum wage.
This is just a example to illustrate my point and get your brain flowing. I am not saying this example will make you wealthy (although it could)
A new member posted this on a thread of mine.
@Mason2
"That was pretty amazing to read, haha. I had to bookmark it. I'm a 15 year old entrepreneur. I've studied since 12. I make roughly $20k a year. It's not good money at all, I can't even support myself if I had to. But, my ultimate goal was always to make $2k a day. I hoped to reach the goal before 21. But I wasn't sure if it was possible because I don't see any other people doing it at all. So, it was very inspirational and satisfying knowing that it CAN be done. And I know 21 is a young age, but I would of been in the business for 9 years by then. May I ask you when you started studying and how many startups you have tried? Thank you very much for the great and valuable post!"
I'm not sure about the specifics of your situation. Is that passive income? working? ect ect. Idk.
If it is passive income than that is F*cking awesome. If you made $20k a year in passive income at 15 you are doing something right. My hat is off to you.
Given that I do not know the information regarding that. 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.
Joe logs on thefastlaneforums for the first time and sees a 19 year old by the name Mr4213 who claims to make a little money. Joe notices that this boy gets attacked by other people. Joe is a little shocked by this. After all Joe did it at even a younger age and made way more. If Joe can think of a simple stupid idea in one night and execute it correctly can not this other gentleman be successful as well if he works hard? Joe wonders to himself...
End story. That is why I F*cking love business.
My main point of this story is to illustrate how simple an idea can be. It does not have to be the next big thing. The "cure for baldness" or any other shit like that. Joe started a million dollar business in a crowded market with a low barrier to entry by borrowing a few items and executing his plan correctly. He got out and hustled business. I used to get caught up in over analyzing things. Just jump the F*ck in.
Joe's success in my made up story was mainly due to creativity, sales ability, and hustling ability.
To the kid that commented on that thread. $20k/year in passive income is very impressive (if it is passive) If I used the above example, in less than a few months I would easily be generating a higher yearly income than you. Depending on how serious I was. If I was really ambitious and serious I would have a small business automated in a year. Which means you can too. I am sure you can come up with ideas I never would have dreamed of. If you are doing as good as you are at 15 then you are leagues ahead of where I was at 15. Try to study less and do more. Learn by doing and you will learn far more in my opinion.
If any of you 16 year olds out there are tired of working for $7.25 and dont know what to do yet. Give that example a shot. If you know what you're doing you may have some success with it. I do not expect anyone to get rich off of that. It was mainly for illustration once again, but I know for sure you guys making $7.25/hr can make way more than that working for yourself cleaning windows (and getting sales experience)
I know it works because I have done it in the past for shits and giggles to make a little money. And the basic window wash numbers I gave were taken from my local market. So the numbers are also realistic.
My bad if any of the math was calculated wrong. I am pretty tired at the moment.
This is also for you young guys in high school who are trying to make more than minimum wage.
This is just a example to illustrate my point and get your brain flowing. I am not saying this example will make you wealthy (although it could)
A new member posted this on a thread of mine.
@Mason2
"That was pretty amazing to read, haha. I had to bookmark it. I'm a 15 year old entrepreneur. I've studied since 12. I make roughly $20k a year. It's not good money at all, I can't even support myself if I had to. But, my ultimate goal was always to make $2k a day. I hoped to reach the goal before 21. But I wasn't sure if it was possible because I don't see any other people doing it at all. So, it was very inspirational and satisfying knowing that it CAN be done. And I know 21 is a young age, but I would of been in the business for 9 years by then. May I ask you when you started studying and how many startups you have tried? Thank you very much for the great and valuable post!"
I'm not sure about the specifics of your situation. Is that passive income? working? ect ect. Idk.
If it is passive income than that is F*cking awesome. If you made $20k a year in passive income at 15 you are doing something right. My hat is off to you.
Given that I do not know the information regarding that. 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.
Joe logs on thefastlaneforums for the first time and sees a 19 year old by the name Mr4213 who claims to make a little money. Joe notices that this boy gets attacked by other people. Joe is a little shocked by this. After all Joe did it at even a younger age and made way more. If Joe can think of a simple stupid idea in one night and execute it correctly can not this other gentleman be successful as well if he works hard? Joe wonders to himself...
End story. That is why I F*cking love business.
My main point of this story is to illustrate how simple an idea can be. It does not have to be the next big thing. The "cure for baldness" or any other shit like that. Joe started a million dollar business in a crowded market with a low barrier to entry by borrowing a few items and executing his plan correctly. He got out and hustled business. I used to get caught up in over analyzing things. Just jump the F*ck in.
Joe's success in my made up story was mainly due to creativity, sales ability, and hustling ability.
To the kid that commented on that thread. $20k/year in passive income is very impressive (if it is passive) If I used the above example, in less than a few months I would easily be generating a higher yearly income than you. Depending on how serious I was. If I was really ambitious and serious I would have a small business automated in a year. Which means you can too. I am sure you can come up with ideas I never would have dreamed of. If you are doing as good as you are at 15 then you are leagues ahead of where I was at 15. Try to study less and do more. Learn by doing and you will learn far more in my opinion.
If any of you 16 year olds out there are tired of working for $7.25 and dont know what to do yet. Give that example a shot. If you know what you're doing you may have some success with it. I do not expect anyone to get rich off of that. It was mainly for illustration once again, but I know for sure you guys making $7.25/hr can make way more than that working for yourself cleaning windows (and getting sales experience)
I know it works because I have done it in the past for shits and giggles to make a little money. And the basic window wash numbers I gave were taken from my local market. So the numbers are also realistic.
My bad if any of the math was calculated wrong. I am pretty tired at the moment.
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