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MenuWhat would you do if you were 18 again?
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If I were 18 again, I'd tell myself, "Don't waste time chasing women you aren't going to marry." Ha. That was probably the single biggest waste of my time, creativity, and money.
But to get more serious, I wouldn't focus too much on finding your true passion. You will probably have multiple true passions over the course of your life. Rather than wait for "the one," try a bunch of different things. You probably won't find a really good fit right away, but you will eliminate some options. For example, you may quickly discover that you do NOT want to start a dog walking business.
If meeting like-minded people is your goal, then go to conferences, seminars, and meetups. Take notes. Look for patterns. I take it you want to start a business. So before you try to create a product or service, look for a hungry crowd. Focus not on what you enjoy, but focus on what people will pay money for. We can discuss that in more detail later.
Anyway, eventually you'll need to pick something and finish something. Then do it again. Assume you won't find your "true passion" until you're in your middle forties. What will you do in the meantime? What is the very next step you can take?
By the way, college doesn't necessarily equal debt. If college interests you (aside from debt), then hack college: http://riskology.co/hack-college/.
Send me some times, and we'll get on a call and discuss in more details.
Cheers,
Austin
This is an interesting, complex question (which means you're already on the right track).There are many things I'd do if I were 18 again, but here are a few important ones:
1) Read more books on topics that interest you -- I used to dismiss books a little bit back in the day ("why read a full book, when an article is shorter, but can provide the same conclusion?"). However, I've realized that the best starting point for gaining knowledge in any field is to check out what the smartest minds in those fields have to say. The critical thing to do is to choose your books / authors wisely. The initial chunk of knowledge you acquire in any field will set the stage for how you think about things in the future.
2) Channel your attention into more productive paths -- when I was a kid, I remember that I could literally play video games for 10 hours straight without realizing it. I now do the same thing, but for more productive things like figuring out my startup's strategy or learning to play a musical instrument. Channel your attention on areas that can add value to yourself and others and you'll soon be on track to becoming an expert in any field.
3) Plan a little bit and set some objectives -- If you start doing (1) and (2) above, you'll be better equipped to set concrete objectives that are aligned with something that interests you or that you'd like to accomplish. They don't have to be big, but they should be worthwhile to you and, if possible, be a little bit outside your comfort zone (but not too much). For example, a simple, but worthwhile objective could be "I'll go to the gym 3 times a week for the next month". The important thing is to hold yourself accountable for reaching your objectives, otherwise it'll be easy to give up if things get tough.
4) Go out and have fun, you're 18! -- This one I did do quite a bit of when I was 18, nut I wanted to mention it because it's very important -- your social skills and relationships are just as important (if not more) for your success in business and in life. So go out partying and meet new people!
The right answer for you won't be exactly the same as the above, but I hope this gets you going in the right direction!
Education & Investment.
Try a lot of different activities, since you haven't nailed down your passion, yet. By the way, I have articles here about identifying your passion:
- http://www.nevermindmarketing.com/passion-hobby-take-quiz-find/
- http://www.nevermindmarketing.com/want-quit-job-follow-passion-ask-5-questions/
- http://www.nevermindmarketing.com/weave-passion-everyday-life/
- http://www.nevermindmarketing.com/informational-interviews-get-inside-scoop-passion/
Secondly, Invest. Start saving now and leverage compound interest. I wish I had saved more when I was younger, but, at the time, "Retirement" was so far off, I didn't care.
I'm still far off from retirement, but I wish I had gotten that head start. Time is a resource you cannot buy, especially in the world of compound interest.
If you're not in school, don't care too much about money, and haven't decided yet what you want to do, then ... perfect!
Start working. Look for something challenging. Go outside your comfort zone. Find a place to work where there's a strong sense of community, where you learn something difficult from people who are more experienced. As soon as you stop advancing, go work somewhere else for the same reasons.
Goals will become clearer and clearer over time as you learn what does and doesn't satisfy you.
You'll go back to school later once the plan is clear. That way you won't spend years wasting money, shuffling majors, and going down the wrong path.
When I was 18 years old, I only knew that my parents said I was going to college. I had NO IDEA what I wanted to do and even when I declared my major Junior year, it was a toss up between Mathematics and Psychology. I chose Mathematics because I was told this was the quickest route to making money. In hindsight, I know that Psychology most resonated.
I said all that to say, don't feel badly that you don't know what you want to do at age 18. I didn't either. You are already ahead of me though in that you are asking for advice. You are to be commended!
Though you've said you have no clue about what you want to do, you seem to be drawn to entrepreneurship. I myself am an entrepreneur. Here's where I'd encourage you to get clear. By definition, an entrepreneur is someone who starts a business and assumes all the risk for it. That's it put simply. There are more elaborate definitions out there but this is most concise.
For entrepreneurs, while money may not be the motivator, it does require money to run your business or to sell your product or service.
What I would advise is to get around entrepreneurs and talk with them about what they do. Creativity sparks creativity. So if someone says something that perks your interest or makes something inside of you leap to attention, that is your like-minded person to follow.
Learn all you can about the person and from the person. See if there are volunteer opportunities or internships where you can offer your services. For many, that has been their entryway into inspired work and the discovery of a fulfilling career.
You said something significant. You never believed in any of your ideas. Perhaps it's because they came from your head and not your heart. When what you do is inspired, it comes from your heart and your mind serves it, not the other way around.
I hope what I have said is helpful. I would love to talk with you more. Part of my work as a coach is to help you to discover your authentic path. Contact me for a free consultation.
I was not afraid to start a business, borrow a bunch of money, or quit a well-paying job to travel the world. At the same time, the fact that I took chances gave me the wisdom that I have today. Now that I am in my 30's, life is surprisingly good. While I have not learned it all, I feel my head is screwed on straight enough that life is much less stressful.
What I would Tell Myself at 18? Well I would tell the following things:
1. Do not be so Serious
I know it can seem like the most important thing in the world is fighting the good fight, but don't let your life pass you by in the process. It is impressive that you do those things at such a young age, but life is really about experiences. Sometimes when you are all wrapped up in your own head, doing the things that you are determined to do, you miss a chance to connect with other people.
2. Do not Be in Such a Hurry to Grow Up
22 is just getting started! In fact, life gets more enjoyable as you age. As you learn more about yourself and the world, it gets easier to enjoy what the world has to offer. Your 20's are the perfect time to explore the world and experience new things. Travel, art, culture, sport, and adventure take on a whole new meaning when you have had some experience to build on.
3. Choose Experience over Material Possessions
I ended up working so hard to pay for the stuff that I didn't have time to meet girls. Working hard is for grown-ups. What they really want is a man with a little confidence and life experience under his belt. Working too hard will just delay that process.
4. Be Confident
Don't let self-doubt ruin your chance to meet a new girl or to try something new. While you are accumulating the wisdom that comes with life experiences, your best shot is to project confidence. The biggest turn-off for a girl is self-doubt. You're going to get turned down A LOT before you finally get the girl.
5. Do not Get Attached
When you finally do get a girlfriend, take it easy. Along the same line as not trying to grow up too quickly, do not fall into the trap of thinking that this is the best girl you will ever get. The second biggest turnoff for a girl is an 18-year-old guy who is already thinking about marriage. Relax a little and enjoy the moment. I know it seems like you must be a grown up and have nice things, but you have got to think long-term. If you can just have the patience to hold off a few years on the nice stuff, you will be able to afford more of it than you can imagine. When people build up debt and monthly payments, they become slaves to their job.
6. Put Money Away Every Month
In five or ten years, you will use this money to invest in something that makes passive income, like real estate.
7. Travel and Learn a Language
One of the wisest decisions I ever made is to live in another culture long enough to learn the language. If you took my advice about taking your time to grow up, you will not yet be attached to a mortgage payment, a job, or a girl. That is too easy. Force yourself to learn the language. It will be frustrating at first, but the life-long benefit will be greater than you can imagine.
8. Get to Know People
As you travel and try new things, make it a point to meet people. As I said before, the most valuable things in life are shared experiences with other people. Your success in life will depend on your network of people. It is impossible to achieve success in a vacuum.
9. There's No Rush to Have it All Figured Out
When I was your age, I felt pressure to have my life's purpose figured out. Most people don't figure things out until much later in life. You don't want to rush such a grand decision as your life's purpose.
10. Savour the Moment
Your youth is special, and you will want to remember it for the rest of your life.
11. Start Businesses Without Borrowing Money
When you decide to start a business, do not go into debt over it. Most businesses fail, and it's better to be left with nothing than to not have anything and still owe someone else money. Pick a business that does not cost much to start and grow slowly, reinvesting your earnings. Choose a business that's as passive as possible.
12. Pick Something and Stick with It
Once you have had your fun traveling the world and being young, find a line of work that you are passionate about. Do not worry about the money, that will come with time. If you are out of debt and putting money into savings each month, you are going to be simply fine.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
Related Questions
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I have this social media idea,but no coding skills. How do I get someone to do the coding (cant afford to pay them) and not give away half of my idea?
Dilip was very kind in his response. My answer might be a bit on the "tough love" side. But that's for you to decide. My intention, just for the record, is to help you (and those like you) on your path to success. And that starts with having a viable philosophy about entrepreneurial-ism and business. And I'm going to answer this because I get asked some form / version of this question very frequently from newcomers to entrepreneurial-ism. The scenario goes something like this: "I have a great idea. It's amazing, I love it, and I just KNOW it's gonna make me a ton of money. But I have no money right now so I can't afford to (fill in the blank with things like "to build it / create it / market it / etc" or "to hire the required staff needed to work in my business to sell it / develop it / etc"). And I don't want to tell anyone about my great idea because I'm worried someone will steal it and make MY million / billion dollars. But I can't afford to legally protect it either... So how do I launch without the skills to personally create the product AND no money to hire anyone else to do that either??" The answer is ... You don't. Look - let's be honest. All you have is an idea. Big deal. Really. I'm not saying it's not a good idea. I'm not saying that if properly executed it couldn't make you a million / billion dollars... But an idea is NOT a business. Nor is it an asset. Until you do some (very important) initial work - like creating a business model, doing customer development, creating a MVP, etc - all you really have is a dream. Right now your choices are: 1. Find someone with the skills or the money to develop your idea and sell them on WHY they should invest in you. And yes, this will mean giving up either a portion of the "ownership" or of future income or equity. And the more risk they have to take - the more equity they will want (and quite frankly be entitled to). 2. Learn how to code and build it yourself. MANY entrepreneurs without financial resources are still resourceful. They develop the skills needed to create what they don't have the money to pay someone else to do. 3. Get some cash so you can pay someone to do the coding. You'll probably have to have some knowledge of coding to direct the architecture of your idea. So you will likely still have to become knowledgeable even if its not you personally doing the coding. (This is not meant to be a comprehensive list of options... And I'm sure some of the other experts here on Clarity have others to add - and I hope they do) To wrap up - Here's my final tip to you that I hope you "get"... It's FAR more valuable to have an idea that a very specific hungry crowd is clamoring for right now - One that THEY would love and pay you for right now - Maybe even one they'd pre-order because they just have to have it - Versus YOU being in love with your own idea. [Notice I didn't say "an idea that some as-of-yet-undetermined market would probably love"] I wish you the best of luck moving forward.DB
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My startup just failed. What could I start to "immediately" generate $1,000/mo?
The quickest path to cash is almost always consulting. Be very specific about what it is you can offer. Don't just offer "business consulting". Find a niche and serve it. Reach out to your network, including friends and family and ask if they need or know of anyone who might want to hear about what your consulting has to offer. That will be way faster than trying to go at it from scratch or cold calling. If you call 100 people in your network this week, you will have a consulting gig within 3 weeks. Good luck, and let me know if you'd like advice on entering a digital marketing/lead generation consulting niche. I've grown from zero to $8,000 of monthly recurring payments in the last 40 days! DaveDR
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How has Uber grown so fast?
Obviously, they do the fundamentals well. Good brand. Good experience. Good word of mouth. Good PR. Etc. Etc. But after my interview with Ryan Graves, the head of Global Operations at Uber (https://www.growthhacker.tv/ryan-graves), it became clear that they are operationally advanced and this is a huge part of their success. I'll explain. Uber isn't just a single startup, it's essentially dozens of startups rolled into one because every time they enter a new city they have to establish themselves from essentially nothing (except whatever brand equity has reached the city ahead of them). This means finding/training drivers, marketing to consumers, and building out local staff to manage operations for that city. This is where Ryan Graves comes in. He has a protocol of everything that must be done, and in what order, and by who, to ensure the best chance of success in a new city. So how has Uber grown so fast? Essentially, they figured out how to grow in one locale and were relentless about refining their launch process to recreate that initial success over and over in new cities. No plan works for every city, and they've had to adapt in many situations, but it is still a driving factor for their success.BT
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How was SnapChat able to grow so quickly?
I'm answering your question assuming that you hope to be able to replicate it's own success in your own mobile app. There are a couple of factors responsible for it's growth that are instructive to anyone building a mobile app. "Leveraging the intimacy and privacy of the mobile phone." We now have an *intimate* relationship with our phone like no other device in the history of technology. Every internet company that started before around 2010 has built their core interactions around "the old web" one which was accessed primarily via a browser on a computer. Companies that start with a clean slate, should be building their interactions around how to do whatever the app is supposed to do while leveraging what is unique to people's relationship to their mobile devices. Photo-sharing has become a core part of the way we communicate now. Snapchat built something that provided an experience that leveraged the feeling of privacy and intimacy that is unique to mobile. "Provided an escape from the "maturity" of other online services." Too many parents, aunts, uncles and other "old people" have encroached into the social networks of teens and young people. As a result, they've had a desire to find places to express themselves in places inaccessible by older generations. An important distinction is that it's not just parents and relatives that young people are trying to avoid, but also employers & colleges who are increasingly using "mature" social networks to review applicants. "Leveraged PR even bad PR" The fact that the app got so much press about it being used to sext was perfect PR for the company, as it essentially reinforced the brand experience that it has today. Essentially, "if it's safe enough to send a sext, it's safe for any kind of communication I want to have." And although the safety and security of Snapchat is actually not as advertised, it still enjoys the reputation of having less impact than any primarily web-based service. Building a successful mobile application is one of the hardest challenges to face designers, programmers and entrepreneurs in the history of writing software. Happy to talk to you if you're considering building a mobile app, about what I've learned about the "table stakes" for success.TW
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How much equity should I ask as a CMO in a startup?
Greater risk = greater equity. How likely is this to fail or just break even? If you aren't receiving salary yet are among 4-6 non-founders with equivalent sweat investment, all of whom are lower on the totem pole than the two founders, figure out: 1) Taking into account all likely outcomes, what is the most likely outcome in terms of exit? (ex: $10MM.) Keep in mind that 90%+ of all tech startups fail (Allmand Law study), and of those that succeed 88% of M&A deals are under $100MM. Startups that exit at $1B+ are so rare they are called "unicorns"... so don't count on that, no matter how exciting it feels right now. 2) Figure out what 1% equity would give you in terms of payout for the most likely exit. For example, a $10MM exit would give you $100k for every 1% you own. 3) Decide what the chance is that the startup will fail / go bankrupt / get stuck at a $1MM business with no exit in sight. (According to Allman Law's study, 10% stay in business - and far fewer than that actually exit). 4) Multiply the % chance of success by the likely outcome if successful. Now each 1% of equity is worth $10k. You could get lucky and have it be worth millions, or it could be worth nothing. (With the hypothetical numbers I'm giving here, including the odds, you are working for $10k per 1% equity received if the most likely exit is $10MM and the % chance of failure is 90%.) 5) Come up with a vesting path. Commit to one year, get X equity at the end. If you were salaried, the path would be more like 4 years, but since it's free you deserve instant equity as long as you follow through for a reasonable period of time. 6) Assuming you get agreement in writing from the founders, what amount of $ would you take in exchange for 12 months of free work? Now multiply that by 2 to factor in the fact that the payout would be far down the road, and that there is risk. 7) What percentage share of equity would you need in order to equal that payout on exit? 8) Multiply that number by 2-3x to account for likely dilution over time. 9) If the founders aren't willing to give you that much equity in writing, then it's time to move on! If they are, then decide whether you're willing to take the risk in exchange for potentially big rewards (and of course, potentially empty pockets). It's a fascinating topic with a lot of speculation involved, so if you want to discuss in depth, set up a call with me on Clarity. Hope that helps!RD
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