Just finished listening to the fastlane audio by MJ.
Like my thread says Ill give a little into and ventures I've tried.
I'm still trying to figure out why some people strike it rich on their first idea.....to add.....people that weren't even looking to make money. I've heard this so many times I don't know why.(right place right time?? Who knows)
I started in my early 20's. Now I'm in my late 30's and still in the starting blocks.
I've decided that, till the day I die, I wont stop trying to make money/add value.
Its a long read, but hopefully it will help someone feel better by seeing all my failures.
1)Started with MLM (amw**) in early 2000
Tried that for 3 years....I didn't sponsor 1 person, thank goodness I smelt the coffee and quit.
I wont knock a MLM because it introduced me to positive thinking material which has changed my life. So In a sense the MLM wasn't a complete waste of time.
2)Got into electronic components and started selling excess to other distributors.
Done that for about a year. I actually made a little money but eventually dropped it.(Not losing money is a good thing)
3)Bought into an established online electronics company.($8k)
Sales were still coming in but not close to the previous years($500k range)
Had I done my due diligence I would've realised this was a bad investment and stayed away, but It was a friend so I trusted them.
4)figured its safer to get some professional training instead of focusing on business/money.
I started taking flying lessons.I loved it and got my private license.
Quit this as after my son was born I realised I would miss a lot of special moments.
I wouldn't chalk this as a failure, but still wanted to add it.($15k gone)
5)Imported a swim sock from malaysia for indoor pool use.(protects against viruses etc)
Hit up a few retailers and didn't get any sales.
Surprisingly this product was doing ok in the UK(shrugs shoulders)
6)Got an idea for a website.I got onto Dragons Den and was turned down.
I was the unlucky one to get burned by Kevin O Leary himself on prime time TV.
Yes, if you knew my name, you can find me on google or Netflix!!
7)Partner invented a promotional product. Had it 3d printed and showed samples to some promotional companies.The feedback was decent so we got 100 3d printed.........this is 2008.
Went to a local trade show and completely bombed!! Not one interest or order.
NEXT
8)Cheap pool accessory.Got 3d printed models then had molds made in China.It was our first time dealing with a chinese company. We paid 50% upfront for the molds, and 50% after they sent us some samples.
Surprisingly there were no hiccups getting this made, we got 5000pcs nicely packaged....zero issues. This cost me another around $5k.
This was it!!! I hit the pavement hard, contacting every local company.Went to a professional trade show in Vegas.Contacted a bunch of companies in the states.
I still have about 4900pcs of the stuff in my basement.
9)Out of all my ideas, this actually generated the most money for me.
Banana bread.I got into a couple of coffee shops, had repeat orders but its a heck a lot of work baking and packing 9pm at night.
There is another angle that I might explore with this......lets see.
What can you do but keep on trying.
Like my thread says Ill give a little into and ventures I've tried.
I'm still trying to figure out why some people strike it rich on their first idea.....to add.....people that weren't even looking to make money. I've heard this so many times I don't know why.(right place right time?? Who knows)
I started in my early 20's. Now I'm in my late 30's and still in the starting blocks.
I've decided that, till the day I die, I wont stop trying to make money/add value.
Its a long read, but hopefully it will help someone feel better by seeing all my failures.
1)Started with MLM (amw**) in early 2000
Tried that for 3 years....I didn't sponsor 1 person, thank goodness I smelt the coffee and quit.
I wont knock a MLM because it introduced me to positive thinking material which has changed my life. So In a sense the MLM wasn't a complete waste of time.
2)Got into electronic components and started selling excess to other distributors.
Done that for about a year. I actually made a little money but eventually dropped it.(Not losing money is a good thing)
3)Bought into an established online electronics company.($8k)
Sales were still coming in but not close to the previous years($500k range)
Had I done my due diligence I would've realised this was a bad investment and stayed away, but It was a friend so I trusted them.
4)figured its safer to get some professional training instead of focusing on business/money.
I started taking flying lessons.I loved it and got my private license.
Quit this as after my son was born I realised I would miss a lot of special moments.
I wouldn't chalk this as a failure, but still wanted to add it.($15k gone)
5)Imported a swim sock from malaysia for indoor pool use.(protects against viruses etc)
Hit up a few retailers and didn't get any sales.
Surprisingly this product was doing ok in the UK(shrugs shoulders)
6)Got an idea for a website.I got onto Dragons Den and was turned down.
I was the unlucky one to get burned by Kevin O Leary himself on prime time TV.
Yes, if you knew my name, you can find me on google or Netflix!!
7)Partner invented a promotional product. Had it 3d printed and showed samples to some promotional companies.The feedback was decent so we got 100 3d printed.........this is 2008.
Went to a local trade show and completely bombed!! Not one interest or order.
NEXT
8)Cheap pool accessory.Got 3d printed models then had molds made in China.It was our first time dealing with a chinese company. We paid 50% upfront for the molds, and 50% after they sent us some samples.
Surprisingly there were no hiccups getting this made, we got 5000pcs nicely packaged....zero issues. This cost me another around $5k.
This was it!!! I hit the pavement hard, contacting every local company.Went to a professional trade show in Vegas.Contacted a bunch of companies in the states.
I still have about 4900pcs of the stuff in my basement.
9)Out of all my ideas, this actually generated the most money for me.
Banana bread.I got into a couple of coffee shops, had repeat orders but its a heck a lot of work baking and packing 9pm at night.
There is another angle that I might explore with this......lets see.
What can you do but keep on trying.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
