Introduction - Sam

[InLikeFlint]

Hey Everyone!

I've browsed the forum for about a week and then finally decided that it would no doubt be beneficial for me to register and get to know everyone! Since I first registered I have been itching to post my introduction and I have finally been approved! I decided to go with a rather thorough introduction so that you guys really get to know me.

About Me:
Name: Sam
Age: 16
From: Michigan, USA

I currently attend a private, boarding high school which I board at. My interests are Soccer, Running, Working Out, Investing, Entrepreneurship, Business, Luxury Clothing, Apple Products, Technology, and Cars to name a few.

Since I can remember I have always loved money, my relatives used to always tease me about how I was too greedy and I thought about money too much. I used to love to get birthday money and plot what I would spend it on, if necessary I would sell my old toys or offer to do chores for my mom so I could get the new Lego Castle! I recall having DREAMS about finding my green frog wallet and finding I had left lots of money in it, I was obsessed! Because of how my parents reacted to it, I began to believe it would be my demise, but starting from the age of 12 or so, I realized it was a gift. My desire for more and more money drove me to begin to think of new ways to make cash that I could spend.

My parents both have very good jobs, my Father even does some entrepreneur projects on the side, and overall my family is considered "Upper Class". That being said they pay for my private school tuition and when I graduate, my college tuition. They have always provided me with everything I need, and then some. I have multiple new apple products, I get lots of new clothes multiple times a year, and they give me a monthly budget to do with as I wish. I am very grateful for what my family has, but for some reason, getting a gift or having money given to me doesn't bring the same joy as making my own money. The feeling I get from knowing I earned what I have, and it wasn't just given to me brings me satisfaction. In the past year I have decided that I want to become self sufficient. I don't have my license yet, but when i get it I want to be able to buy the car I want, with my own money. I want to pay for my own groceries at school, buy my own phone, computer, luxury clothing. I want to manage my own funds, to be able to know if I can afford to pay for this vacation or if I should save for a little while. I dream of fulfilling all of my material needs and being able to just hoard my money in the bank until I need to pay for my own college tuition and further on down the road a house. I know there were quite a few "I wants" in that last part, and I am not trying to sound greedy, but those goals and hopes of mine drive me to buckle down and start making money.

I am extremely organized, both my dorm room and my room at home are perfectly neat and clean. I am the same way about school and business, I map out all of my ideas, goals, ambitions, worries, everything. I find this to be an advantage in many ways because it helps me remember what I am doing, and I am able to frequently check back on my layout and see where my next step should be.

My Ideas:
- Create an app for Fitness/Nutrition that monitors workouts, goals, and nutrition
- Start a resale business for Apple Products
- Start a resale business for Luxury Clothing (Hermes, Louis Vuitton, Burberry, etc)
- Invest the money I may (or may not) make from the above ideas

Some of the ideas are far off, and some may not even be possible, but Clothing, Nutrition, and Apple Products are things that I am very passionate about and I think that will drive me to continue the business even when I don't feel like it. Considering I am still in school, I have to balance my business with my school work so I feel if what I am doing is something that I care about that I will be more inclined to taking the extra time to work on it. If you would like to know more about the ideas (The descriptions were very brief) PLEASE let me know! I would be more than happy to go into more depth on them if you are interested, just leave a comment or send me a message!

My Goals (Short Term):
- Earn enough money to lease (So I can get a new car in 2-3 years) a 2013 BMW 335i xDrive Sedan fully customized to my liking
- Obtain enough money to buy all of the luxury clothing I might want
- Buy a new MacBook Pro Retina, the new iMac, iPad Mini, and iPhone 5
- Put enough money in the bank so that if anything new comes out or I need something, I can buy it without a second thought
- Attach my own credit card to my bank account so that all of my expenses come from what I earned, not what my parents give me
- Make my story of business so interesting that I can make a nearly irresistible college essay

My Goals (Long Term):
- Pay for my college tuition
- Never have to work a job due to necessity
- Develop an outstanding portfolio to show companies (If I am looking for a job)
- Have enough money saved up to buy a very nice house to start a family in
- Never need to worry about finances (Spouse never has to work)
- Be able to afford many luxuries in life (Boat, Multiple Homes, Nice Cars)
- Buy my dream car: Maserati Grantourismo Sport
- Develop some sort of passive income that allows me to enjoy life while the money flows in
- I would like to start some sort of business or company that I can manage part time, while I enjoy life

Some of these goals are more specific than others, but I hope you can get the idea of my plan in life.

What I am looking for from the forum:-To Learn: I am young. I don't know even close to everything about business, I hope to learn lots of new techniques, and styles of business and new ways to make money. To learn from my mistakes, and how to avoid those problems in the future and how to fix them.

-Guidance: Again, I am young. I may think I know exactly what I want, but there will be a time when I will need guidance on what to do next or how to handle something. I am hoping the experienced members here will be able to guide me in the direction of success.

-Criticism: As a businessman, and as a person. There may be times when I want to do something with my business and it is wrong and I can't see that and I hope someone will correct me and put me in my place. As a person, I may begin to sound cocky or greedy, and that is not what I want at all, so hopefully I can become disciplined with the money I may (or may not) make.

-Connections: To resources, people, or ideas. I hope that if for instance I want to start a movie business that I know I can go to (Insert Name Here) and he can give me information on the subject. Same goes for resources, and if I need a specialist on international shipping I know (Insert Name Here) can either help me or connect me with someone who can.

- A mentor (In a sense): Someone that I can look up to who has similar interests and principles that I do and that knows the type of business that I am interested in that can teach me and guide me along the way. I don't expect to get one right away or even at all, but if I could develop a working relationship with someone, I feel it would be extremely beneficial.

What I can offer to the forum:
- Information: Info on anything that I may know, or if I know a particular brand, or item, or business, I will gladly offer advice or help to whomever needs it.

- Criticism: If you post your idea and want to know what people think, I will read the idea over and offer my 2 cents on the idea.

- Ambition: Being young, I am very ambitious to make money, and to become successful. If I am working with you or for you, I will always be itching to move onwards and upwards.

I feel that relationships are about give and take. I don't expect to get advice and help and ideas from people here if I don't give something in return. Even if I don't know nearly as much as people here, I will try to offer something that is useful to others!

Well I think I have made a long enough introduction...my fingers hurt from all this typing! I am hoping that this in depth introduction will help everyone get to know me better so if I do ask a question or ask for advice, you aren't giving information to some stranger over the internet, rather Sam..the kid with the long introduction! I hope to get to know everyone on here personally, and if you have any questions or comments or anything, don't hesitate to reply to this thread or send me a message!!

Regards,
Sam (InLikeFlint)

 

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[ChickenHawk]

Nice to meet you, Sam! I'm originally from Michigan, and it's always nice to see a fellow Michigander here.

 

[awesom-o]

Hi Sam
Great to see you so interested in business at a young age
Not wanting to be harsh but have you read TMF ? Seems like your fastlane and short term plans sound slowlane and against many sound principles set out in the book.

 

[InLikeFlint]

Hi Sam
Great to see you so interested in business at a young age
Not wanting to be harsh but have you read TMF ? Seems like your fastlane and short term plans sound slowlane and against many sound principles set out in the book.

I downloaded it for my iPhone, now I just need to find the time to read it!

Which of my goals contradict what the book says? I'm very curious

 

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[DennisD]

Disclaimer: https://www.thefastlaneforum.com/in...-new-here-read-mike39-version.html#post249673

As I read through your post I thought "Sidewalk, sidewalk, sidewalk, slowlane, slowlane, sidewalk."

All of your short term goals contradict with the book.

Sidewalk = Sacrificing the long term for short-term pleasures. Making income so we can buy more stuff. buying expensive stuff we can't pay for up front, only to be locked into a lease. Taking out loans or buying credit cards to pay for short term pleasures.

Slowlane = Frugality without end. save, save, save. You invest your money, but you invest it 'stupidly.' You join a sales team, get a high paying job, join an MLM scheme. You invest in the stock market and CDs and savings. It's all 'save for the future and get rich when you're 75'.

Fastlane = you're a producer. you create the pyramids, add real value to the world, and enrich millions of lives. in turn, millions of people pay millions of dollars to you for your efforts. You live wealthy while you're still young enough to enjoy the wealth. (this is TRUE wealth.. not 'once I get a job at microsoft I can afford that BMW' wealth.)

Why do none of your short term goals coincide with your long term goals? Your short term goals should be steps to accomplishing your long term goals, not plans on how to spend your money.

Luckily you're young enough to change your mind and you look like you're ready to learn. It takes a long time to learn the lessons that bring wealth. Perhaps the money you plan to spend on new apple products can pay your way through failure long enough to find your path to true wealth.

 

[InLikeFlint]

Disclaimer: https://www.thefastlaneforum.com/in...-new-here-read-mike39-version.html#post249673

As I read through your post I thought "Sidewalk, sidewalk, sidewalk, slowlane, slowlane, sidewalk."

All of your short term goals contradict with the book.

Sidewalk = Sacrificing the long term for short-term pleasures. Making income so we can buy more stuff. buying expensive stuff we can't pay for up front, only to be locked into a lease. Taking out loans or buying credit cards to pay for short term pleasures.

Slowlane = Frugality without end. save, save, save. You invest your money, but you invest it 'stupidly.' You join a sales team, get a high paying job, join an MLM scheme. You invest in the stock market and CDs and savings. It's all 'save for the future and get rich when you're 75'.

Fastlane = you're a producer. you create the pyramids, add real value to the world, and enrich millions of lives. in turn, millions of people pay millions of dollars to you for your efforts. You live wealthy while you're still young enough to enjoy the wealth. (this is TRUE wealth.. not 'once I get a job at microsoft I can afford that BMW' wealth.)

Why do none of your short term goals coincide with your long term goals? Your short term goals should be steps to accomplishing your long term goals, not plans on how to spend your money.

Luckily you're young enough to change your mind and you look like you're ready to learn. It takes a long time to learn the lessons that bring wealth. Perhaps the money you plan to spend on new apple products can pay your way through failure long enough to find your path to true wealth.

Thanks for your reply!

I guess now that you described what the terms sidewalk, slow lane, and fast lane mean I now understand why you think that my ideas are sidewalk and slow lane. I agree, they are. I do want a fast lane idea or business. But I think it may be best if I start off sidewalk or slow lane, if I get my feet wet with a small business plan that makes me $50,000-$100,000 total and I use the majority of that money on myself or material things then I will tire out my lust for cars and clothes, I will be set for a while and my mind will be clear to focus on REAL long term goals. In your opinion is that a bad idea? I feel like if I don't get the crazy spending out of my system that it could just stagger my success on the road to my fast lane idea or business. I would be making this crazy money and would constantly be nagged to buy this new car instead of my 2004 Trailblazer because I have the money sort of deal, where if I get to a state where I am completely content with everything I have, I will be better able to get to the fast lane and not change lanes until I reach the finish line (SO many puns!). Plus, I think if I were to show up to my "Fast lane meetings" I should be rolling up with a somewhat nice car, and wearing suitable clothing for the situation...rather than a VW Bus and shorts and a cut off

 

[andviv]

Sam, welcome to the forum. You have made quite an intro post. I like the way you write and explain your ideas.

Please let us know when you read the book, and also go read many of the classic, pinned threads that contain great information.

Welcome again!

 

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[Mike39]

Thanks for your reply!

I guess now that you described what the terms sidewalk, slow lane, and fast lane mean I now understand why you think that my ideas are sidewalk and slow lane. I agree, they are. I do want a fast lane idea or business. But I think it may be best if I start off sidewalk or slow lane, if I get my feet wet with a small business plan that makes me $50,000-$100,000 total and I use the majority of that money on myself or material things then I will tire out my lust for cars and clothes, I will be set for a while and my mind will be clear to focus on REAL long term goals. In your opinion is that a bad idea? I feel like if I don't get the crazy spending out of my system that it could just stagger my success on the road to my fast lane idea or business. I would be making this crazy money and would constantly be nagged to buy this new car instead of my 2004 Trailblazer because I have the money sort of deal, where if I get to a state where I am completely content with everything I have, I will be better able to get to the fast lane and not change lanes until I reach the finish line (SO many puns!). Plus, I think if I were to show up to my "Fast lane meetings" I should be rolling up with a somewhat nice car, and wearing suitable clothing for the situation...rather than a VW Bus and shorts and a cut off

The mentality is not that of you can't have nice cars or brand name clothing, if that is what makes you happy, go for it. The idea has 2 main concepts:

1) Create a business that serves a need, work on building a great business and the money will follow. If you just follow the money and hope the business follows, you will cut costs, charge to much, etc. and you have a much higher chance of failing.

2) Would you rather work on a business that had a 50% chance of 10 million or a business that had a 75% chance of 50-100k? If you spend a year working to make a 100k business you have made $273 a day, if you spend 5 years working to make $10 million business, you have made $5,479 a day.

So by all means there is nothing against fast cars, beautiful women, and designer clothes. Whatever drives you.

:Welcome:

 

[InLikeFlint]

Sam, welcome to the forum. You have made quite an intro post. I like the way you write and explain your ideas.

Please let us know when you read the book, and also go read many of the classic, pinned threads that contain great information.

Welcome again!

Thanks, strangely enough when I am writing a post on something related to business the ideas flow and jell really well, but when I am writing a paper comparing and contrasting Thoreau and Walt Whitman I can't think of a single well organized sentence!

I have some catch up work to do for school because I missed 2 months of school because of a concussion, but I plan to begin reading the book tomorrow! I just finished One up on Wall Street by Peter Lynch, and I am very excited to read this one!

I will also begin to read the pinned threads...I read a few and they proved to be very helpful and PACKED with information!

 

[InLikeFlint]

The mentality is not that of you can't have nice cars or brand name clothing, if that is what makes you happy, go for it. The idea has 2 main concepts:

1) Create a business that serves a need, work on building a great business and the money will follow. If you just follow the money and hope the business follows, you will cut costs, charge to much, etc. and you have a much higher chance of failing.

2) Would you rather work on a business that had a 50% chance of 10 million or a business that had a 75% chance of 50-100k? If you spend a year working to make a 100k business you have made $273 a day, if you spend 5 years working to make $10 million business, you have made $5,479 a day.

So by all means there is nothing against fast cars, beautiful women, and designer clothes. Whatever drives you.

:Welcome:

That actually makes so much sense. Thank you very much for that post. I know what you mean now, and I think that the mentality you explained is the mentality that I need. I will work on shifting my views so that it's no longer make $50,000 from my business to buy personal luxuries, instead, it's start a business that I can develop into a 5 million dollar business and along the way I can always stop to buy a few luxuries as long as my goal stays the same.

 

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[InLikeFlint]

Little update:

I am currently reading the book on page 200 of 1539 (Reading it on my iPhone). I am learning A LOT from it, and I really love to read the stories from his life, it's easier for me to grasp the concepts if I am reading a real life experience rather than a "for example".

On top of that I have really started to clarify what I am going to do. I decided that I need a few slow lane ideas to run with. Although I will not be making as much money, I feel the experiences and lessons learned will make up for the lack-thereof and it will benefit me in the future. That being said, I have started a few smaller business ideas, and I am currently working on a few fast lane ideas...I would like to run with multiple ideas to keep me busy, and then I can monitor how each idea develops (or doesn't develop) and can adopt my time and focus as necessary.

In the past few days I have done a few things to kick start my business "Career":

- Took an idea I had for an app, and with an application called MindNode, I mapped out exactly what the application should do. From there I put the job up on an outsourcing website (eLance) and have gotten 22 offers to develop the app. I have not replied to any of them, I plan to write a generic response to copy and paste to each applicant asking specific questions that I am curious about all and giving a more detailed explanation for the app to ensure they can develop it to my specifications.

- Began talking to someone with connections to wholesale suppliers to try and find a legitimate wholesaler for luxury clothing and apple products.

- I am working on developing a website to repair and unlock iPhones and iPads. I will begin small scale by posting listings on eBay, CraigsList and the website, and I will try and persuade local phone stores to direct customers with broken phones to me (A lot of people are under the impression that a local Verizon store will fix their broken screen, most of them do NOT fix screens, I could have business cards for the people at the store to give to the customer to call me). To keep costs low in the beginning I will take orders and payments and then order the repair parts, so that no money is required up front (besides the website).

- I am starting a website to sell software: Adobe Products, AntiVirus, Windows (XP, Vista, 7, 8), iOS (Mountain Lion, etc). I already have a supplier that offers a price that will produce large profit margins. I will then use advertisements to get word out about my site.

- As more of a side thing, a member on the forums and I are currently working on turning a waste product into something useful. Being as vague as possible on this one because there is a chance not many people are aware of this, where there is already lots of competition on the ideas listed above.

- I joined a US Masterminds group to motivate me in my ideas and to get information from

- I applied to get training in the RE business, hopefully I will be able to learn a lot (If accepted) and can apply that to making money!

Just offering a little update on what is going on with me right now. Nothing too serious, but hopefully something above can become useful to someone.

Cheers and Happy Thanksgiving!

 

[EN_VY]

Even though you're initial ideas are slowlane, according to the Fastlane mentality, I applaud your hunger for success at such an early age! Kids that age are caught up on other things, but you have your mind set on the future. Keep on reading the book, and stick around here to learn. Remember that knowledge is everywhere, not just school. You're16, and that is a great +, make every day could!

 

[InLikeFlint]

Even though you're initial ideas are slowlane, according to the Fastlane mentality, I applaud your hunger for success at such an early age! Kids that age are caught up on other things, but you have your mind set on the future. Keep on reading the book, and stick around here to learn. Remember that knowledge is everywhere, not just school. You're16, and that is a great +, make every day could!

Thanks for taking the time to read this (It's extremely long) and thanks for the support! I am very very happy with myself for taking on the mentality of a business man so early on, I feel that it will help me immensely and I could even become a millionaire and self sufficient before I graduate college! Then I have my whole life ahead of me, and it's not just the money. I love doing it, I love the planning and the start up and the struggles. It's wonderful!

 

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[A. Samuel]

Wow Sam! Really great introduction! It was long, but I never found myself bored by it. You seem to be quite organized and I am sure that will be very helpful for you in the future!