I have a plan of making my first million by 25 (I am currently 20), and I would like help in the form of advice, your opinions, or any constructive criticism id like to add.
For financial, legal, and personal reasons, I cannot pursue a career in college. I am not "bummed", as I come from a family of self-employed business owners and entrepreneurs. No, they are not ultra-wealthy mastermind millionaires, but they do what they do good, can sustain themselves, and have enough left over to do what they'd like. I've been raised around them and their values / habits / thinking patterns have grown onto me.
Anyways, I have been studying Business, Entrepreneurship, and everything in between, including countless subcategories (Marketing, Inbound / Outbound, Accounting, Statistics, Economics, Trends, Internet Marketing, Operations, SEO, Strategy, Content Creation, Personal Development, Affiliate Marketing, E-Commerce, Social Media, Web Design, Development, & More) for a few months. Theres not really one of these that I'm particularly "focusing on", I just decided to soak up as much knowledge about internet marketing and business as possible before i decided what path to take (I have several options).
These are my options, even though I am probably doing to need at-least 4+ to come up with a million. Please tell me what you guys think, also, take into account that i currently have no source of income and about $30 total. (What would be best to start first, what you think i should know, any tips / advice, your honest opinion) .
- Social Media Marketing / Influencing (Growing large pages, implementing monetization strategies for influencers who don't know how, promoting affiliate products or building a brand and providing an e-commerce website, shop)
- Web Design / Development (Sold to entrepreneurs, companies, local small business owners, I know how to build decent pages through wordpress, know plug-ins, and some other miscellaneous things)
- Affiliate Marketing (CPA / CPS / PPI)
- Blogs (on niches i like, am interested in, probably monetize with ads or promoting affiliate offers, whatever leads the most ROI, accounting time investment, of course).
- Business Solutions (Similar to FileMaker, Using a program that can help organize the infrastructure of a business, maybe turn all the spreadsheets / invoices / shipping / tracking / stock / inventory (or anything they track) into an app, could be sold out as a SaaS)
- FBA (Amazon, Everyone Knows)
- E-Commerce (Growing Shops / Niche shops in things i like, I have a customs broker and previously sold around 100 of those self-balancing scooters when they were "on fire", or shall i say trending, because i heard a lot of them actually caught fire, lol.) I know how to import w/ alibaba / express, establish white/ private label partnerships, clear shipments, and dropship.
- Crowdfunding (I have several physical product ideas in the green and tech space (around 60 but narrowed down to the best 5 that have been "validated" by unbiased opinions). the surveys weren't conducted on my friends, i swear!
- Investing (Stocks, no day trading or swing trading or scalping or any of those goodies, just a personalized portfolio set up for me and my plan).
if any of these go good, i can also:
- Provide mastery courses for what i succeeded in (marketing, e-commerce, funding $, etc)
- Consult / Coach / Mentor in areas i believe i have achieved mastery / success in
- Invest in Start-ups
These are my venture "ideas". As I currently have no $, I was thinking I could start with an ok-paying job to fund them, and can retain it the first couple of months (could be part or full-time, depending on time availability and priorities at time being). I have a few connections that can start me at $15/hour (decent in my location for a 20/yo w/ only a HS diploma) and an insurance life, health, and accident license that could aid in my acquisition of it. NOTE: THIS "JOB" IS TEMPORARY, and will be used to fund a venture until it becomes cash-flow positive or earnings' exceed that of my job.
What should I do? What should I Start? I have an idea of what to do but i'd like to hear some honest opinions.
Please don't state "just go to college for a degree you like" to "get a job in an industry you like or are ok with", I am worth more than building somebody else's dream, and I realized it because I have always had a leader role, been a give all or nothing guy, loved failure (I have accepted it since i was little, since my family told me it was the only teacher ever needed), and also because I don't like the idea of getting myself in debt, having to commit at least half of my life to pay it off, for a paper that increases my chance of employment by x% in an industry that has absolutely no guarantee of any payment, or even employment.
Some of you might say, "theres many industries and jobs that you can get 100k+ / yr salary without a corporate or management position". True, but thats simply not enough. Not enough to live my dreams, solve my problems, or bring my family out of their country and build the things i'd like to. Even if it was "enough", having a job and being paid 100K annually means you're making your employer over $150K. I know my self-worth, and it is not near that of a sheep. My family has always told me I am much better off "creating something" or "starting something", and I believe they are right.
some people might think 1m in 5 years is to much, i think its realistic and plausible. it is also the first benchmark to my life goal, the real starting line.