My teenage years would have been perfect.
But there was only one MAJOR PROBLEM.
My bank account.
I had no money to save up for college.
I had no money to go out with friends.
And whenever I would take a girl on a date (which rarely happened due to my awkwardness lol),
I was afraid if she were to order anything else other than a cheap salad.
But then I figured out these 3 simple steps that can allow any broke teen to easily make and maintain an extra income on the side.
Mentioned in Video:
- How to Make 6 Figures Selling Physical Products
- My First Cryptocurrency Investment
- Where to Mine Bitcoin
STAGE 1: The Hustling Stage
What you need to understand in this stage is you need to check your ego at the door.
And that’s because you will have to DO WHATEVER IT TAKES to make your first dollar.
A lot of people when they get in here, they just go into YouTube and type in “How do I make a lot of money.” But in reality, they don’t want to do anything.
They think that they can just have a lot of money by taking steps without putting in any effort and just doing absolutely nothing.
Well guys, that would be an amazing world but frankly, we do not live in that world..
We live in a world where we actually have to put in either TIME or EFFORT.
If you want to make money, understand that we are in this day and age where you need to invest one of two things:
To be honest with you guys, I did not have the money to invest when I was 18 years old.
But what did I have?
I HAD ALL THE TIME IN THE WORLD.
So what I did in the hustling stage was I invested my time in a bunch of things. I knew I needed to do something in order to save up for a future business idea.
That’s when you have to check your ego at the door because I, for one, worked as a dental assistant.
I also worked as a summer camp counselor. I watched over the kids on field trips like a glorified babysitter!
Not to mention being that random guy you see driving down the road. . Flailing that discount flag trying to send traffic from the road into a store. I did all those stuff just so that I can make around $7 or $9 an hour.
It was ridiculous and it was kind of embarrassing sometimes. .
But I’m telling you, I didn’t really care because I knew I was saving up money so I could start investing in businesses.
You need to understand that you need to find a way to start hustling . . Find a way to start accumulating some money that you can invest into your ideas.
IT DOESN’T MATTER WHAT IT IS.
Perhaps, find a job that’s best for you.
That’s how you are going to have the funds to start turning that money into more money.
STAGE 2: The Profit Stage
This stage is basically about taking the money from the hustling stage and turning that into profit to work for you.
This is when you start becoming part of the 3% of the population that owns 97% of the wealth.
And that’s because you understand that unlike the first stage, instead of trading your time for money. . You can now start leveraging your money to start making more money.
So for me, I initially took the money that I made from all that and I started selling stuff on eBay.
Before I even knew what e-commerce was, I was buying low and then I was selling high on eBay.
I was flipping that for profit and I was making decent money as an 18-year-old. But then I got into the world of dropshipping and then I figured out that instead of buying low and selling high. .
I could actually sell high, take the money and then buy low, and then ship them the product.
If you can check out my most popular video titled Zero to $1000/Day On Shopify in 7 DAYS | Drop Shipping Success Story, I did pretty quite well for myself from dropshipping.
And if you want more information or tutorial and anything about dropshipping, click HERE to see loads of my FREE resources, videos, and blogs.
If you do, you can either join the lot of my masterclasses or just look at all these FREE resources.
I would definitely recommend checking out how to create a six-figure shopify store start from scratch.
And once you are done doing that, trust me. .
You’re going to start positioning yourself where the money that you’re putting into your business is going to actively start making you more money.
STAGE 3: The Investment Stage
In the first stage, let’s say you didn’t have a lot of money so you hustle.
Then you take the money you made from the hustling stage and turn that into more money which leads you now to the second stage, which is the Profit Stage.
The highlight for this second stage is that YOU ARE ACTIVELY DOING IT.
Now the thing about the third stage is you need to start putting the money that you made from the first stage and the second stage into the systems that are actively making you more money while you are focusing on building your business.
So what I did is I invested in a bunch of things like index funds, cryptocurrency and saving up for multi-family home real estate. .
So that the money can make more money for me while I focus on my profits from my online businesses.
One of the best things to get started when you’re getting into the investing stage is doing something that has a bunch of returns.
You can go for betterment.com.
This is something that I would recommend for people that are extremely safe. It grows around 7-10%.
So if you have money in the bank from stage two and you put it into Betterment, this will grow 7 to 10%. Now if you put $100, by the end of the year, you’ll make around $10. The craziest thing about this is that’s $10 that you didn’t have to work for.
So while you’re doing that, you’re also increasing profits from stage two in your making money businesses.
On Cryptocurrency Investment…
Another thing that I’d recommend if you’re a risk-taker like me is to start putting it into bitcoin mining and cryptocurrency.
The growth there is insane and there’s so much crazy amounts of wealth that’s being generated from the cryptocurrency right now.
So for example, if you put in $100 in Betterment, you’ll basically make around $10 in a year. But here in bitcoin and cryptocurrency space, the $100 that I put in would make me $300.
So now that’s 3X as opposed to the 10% growth!
What I exactly did was I literally took an investment that I made from stage two. . Now I put it in stage three which I end up making an extra $30 a day from this one platform.
This is just one platform. There’s a bunch of other platforms out there that are easily accessible and have trainings and tutorials.
So that’s it guys!
Remember those three stages:
- Hustling Stage
- Profit Stage
- Investment Stage
These are the ways to make money as a broke teenager. And this is exactly what I did when I started back when I was 18 years old.
This is exactly what you can do right now!
Don’t get distracted by LIMITING BELIEFS you hear around you.
What you have right now is your youth, your energy and the fact that you have all the time in the world to focus on getting good at a skill.
Understand this: The biggest mistake you could ever make in your life is getting good at the wrong thing earlier on in life…
Later on, you’ll realize you’ve had all this wasted time when you could have been working and building other skill-sets. .
If now you’re a broke teenager but you have the hunger and ability to learn a new skill. . Then you have the flexibility of someone that’s 30 or 60 years old doesn’t have because they’re more rigid in their thinking.
YOU NEED TO TAKE ADVANTAGE OF THAT!
If you follow the stages above, you’ll position yourself where you have the financial abundance when you are older!
Hopefully this helps guys. Make sure to leave a comment below.
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