Do THIS to Make $10,000/month as a Beginner

8 Ways To Make Money (for Teenagers) – YouTube
https://www.youtube.com/watch?v=m6WNfLfEFuM

Transcript:
(00:00) – Alright, alright, alright, alright. Alri– (clears throat) (upbeat music) Eight ways to make money for the teenager in this community. This video is going to help all the emails I get. It’s incredible, the comments on my video of people asking me like young 12 year olds, 13 year olds, 14 asking me about life and business, and strategy and how do I make money and what’s the right way to approach it, all of those stuff.
(00:34) The question I get asked all the time is what business should I start. So I thought about my own two boys. I have two little boys and when they become teenagers if they were to ask me, they probably won’t because most kids don’t do that with their parents. They don’t ask for advice and that’s cool I get it, I’m ready.
(00:51) I’m getting ready now for 10 years from now. This video is for them and it’s for the teenagers in the crowd or the parents that want to forward this on to them. I think the problem is a lot of people are hungry. They want to build businesses but they are scared. They have no idea of what’s gonna work and they really don’t wanna waste their time.
(01:10) What I’m going to share with you guys is eight very practical, no cost, simple but effective strategies that regardless which one you decide to do will build a better foundation for the rest of your entrepreneurial career. Now, I wanna say that I first think as a global rule or idea is that most people underestimate how talented, skilled, knowledgeable, willful, passionate a teenager can be to create.
(01:40) And I remember reading the biography of John D. Rockefeller, one of the wealthiest people in the history of humankind. And in the book there’s a story where his father, who is a complete train wreck came back from being on the road for 6 months, and literally gives his son $40,000 that he made. And said, “I need you to build a house “for your family. For your mom, for your brothers.
(02:04) And just like take care of it,” and then boof, he’s gone. Can you imagine a 13 year old with the cash, sitting there going, “I now need to build…” I think of myself and where I was at at 13, and there’s no way that would have ended up in a good scenario. And he not only pulled it off, it taught him so many lessons about keeping track of things and hiring people and monitoring progress and quality and all these things.
(02:31) I mean at 16, he became the assistant bookkeeper to a big company that was doing a lot of shipping. And it was through that effort and energy and many other things that brought it to a point. By the age of 40, he was one of the wealthiest people in America. And I can’t not think of that story when I think about what’s possible.
(02:51) So I wanna share with you especially the teenagers, a key lesson, this is like three things you need to understand about entrepreneurship because it’s really what guides everything else. One is you start off trading time for money. Okay, you have time and energy and expertise or whatever and you’re gonna take that time and you’re gonna trade it for money.
(03:09) The second thing you get to is like stages. Stage one is time for money. Second stage is money for time. That is all about leverage. So it sounds kind of weird ’cause you gotta do the first one first to get the money, but then you start trading money for time to get more leverage, to kinda increase the value you create in a period of time.
(03:28) Then the third stage and this is the magical one. This is where you trade money for money. This is where you take you’re capital you built up and you put it into an investment, and that investment generates more capital so that you can continue building your wealth. Now, this video is not about wealth dynamics.
(03:44) I just want you to understand that so as you think about the different businesses to approach. You understand how entrepreneurship works. Time for money, money for time. Money for money. Now, let’s start off with the first idea I have you. Events, okay, event are the no-brainer. I’m a big fan of bringing people together but think about this, you could host a yard sale, ‘kay, where you organize the neighborhood yard sale and take a commission.
(04:07) So you have no things you need. You can actually work with neighbors to bring their stuff. You could borrow all the tables. You could essential put it on, market it, promote it for free in today’s world and take 5%-10% commissions from all the sales that go through. Especially if the neighbors don’t even have to be there and you take care of the negotiations.
(04:25) So that’s a no-brainer. Fairs, organizing a fair. If you’re into sports, action sports. Imagine if you organize a competition. These are all ways that you can take something that you know about or you’re passionate about and make money from. So that’s number one. Two is services, so people talk about lawn care and painting and all stuff and those are cool.
(04:45) But I think there’s even more interesting subtleties like gift wrapping or just asking. Now here’s the trick ’cause we talk about trading money for time. The trick is to go to neighborhoods that have big houses and the reason why is the people that typically live in those homes have discretionary income.
(05:05) That means they make more money, hopefully than they spend and they’re always looking for ways to trade money for time so you become that option for those places. So service type businesses work really great in more affluent or wealthy neighborhoods. Number three is affiliates, now I’m not talking about the internet, joint venture affiliate type stuff.
(05:25) I’m talking like legit companies. Did you know Best Buy, if you’re into electronics. Best Buy has an affiliate program. Amazon has an affiliate program. Pretty much any major retailer has an opportunity for other people to promote or sell their products and get paid cash as a commission to doing that so if you’re already sharing on social media with your friends certain products, you can actually be paid for doing that so that’s number three.
(05:50) Four is reseller, this is where you, old school. I wouldn’t say good today is newspaper routes. You resold somebody else’s product, but in a broader scheme and I’m not suggesting this is direct marketing or network marketing. That’s an opportunity, I think you probably wanna go with a more stable type of business but essentially you become a sales rep for somebody else’s products.
(06:13) Somebody’s built something already and you resell it, and I think that’s a great opportunity to get in, get some training typically comes with it and become an entrepreneur. Number five is creating content. Now, have you ever seen? There are people that make million dollar plus a year doing unboxing. I discovered this ’cause my kids on the YouTube, YouTube for kids on the iPad.
(06:37) Would sit there and watch kids unbox toys and it’s probably at the point now where the toy manufacturer send the kids the toys. So they don’t even have to buy the toys and literally there’s tens of millions of views on these videos. So just the idea of blogging, a YouTube channel, creating content, creating essentially an online community and monetizing that through different mechanisms, affiliates or selling your own product or advertising is a huge opportunity and I think it really just comes down to the creativity.
(07:11) Number six is flipping. Flipping is all about buying and selling, and my favorite story to tell and truthfully my brother Pierre is probably more entrepreneurial than me growing up. He bought his first car. I think when he was 12, and it was a Ford Eagle. Which is a hatchback type. It almost looked like a tank that was a car.
(07:35) It’s really an interesting design. Don’t even know why he decided that was the car. Maybe he got a good deal on it, but he bought the car to fix it up so that it was ready when he became 15, 16. And what ended up happening is he had it and somebody offered him more money than he paid for it. So he sold it and that was when he really got the idea of flipping and he just kept doing this.
(07:55) By the time, he did it so many times that by the time he got his license, he was driving a Ford Mustang 5.0. So buying and selling on eBay is a really incredible way to make money as a teenager. The seventh idea, which I alluded to earlier is saving. Actually saving your money. I remember getting a call one time from a teenager that had a death in his family, and he came into a ton of wealth.
(08:25) And he asked me what should I do with it. Right, I don’t even think he got it yet. Like he was planning for when he was gonna get it. And I said truthfully because you have not built that capacity of understanding the capital. There’s psychology involved here. I said, if you’re asking my opinion, and don’t tell anybody you’re doing this.
(08:45) Take $10,000 in cash and put it in your pocket, and walk around with it for a year. And I know it sounds crazy. And some of you guys watching like that’s the dumbest idea. I’m gonna say that it could probably be the most valuable thing because he would learn to have money on him and not spend it. The first thing when he got the money was calling me, reaching out to me and asking me what he should do with it.
(09:09) Thinking I’m already gonna spend it and the idea of saying 12 months don’t do anything with it. Just learn to live with it, I think is probably the best advise and most kids are never taught that as they grow up. Some people get really good at making money, but the hard part is actually saving it. So saving it, collecting interest goes back to letting your money make you money.
(09:28) And number eight is create something. One of my passions in life is helping at-risk youth build their confidence through building businesses. It’s a program I run called the creators, and in that program, I work with entrepreneurs in different communities to create business ideas. To create products that they can sell, to create apps or services or whatever it is, and there’s so much opportunity today to find your customers.
(09:55) To go to the flea market, to go to an art show, to go to the mall and just watch people come out of a store that sells similar products to you actually try to sell them what you’ve got. I mean, the world that we live in today, there’s no excuses. The only thing that’s gonna stop you, and this is true, this is regardless of what idea you take is your ability to overcome the self-limiting beliefs.
(10:18) And that’s for another day and another video but if you have any questions about how to do that. Leave a comment below, I’d love to hear from you, and I’m really excited to hear your stories ’cause a lot of people already left comments, and it’s really inspiring for me. I usually don’t make videos for teenagers, but this one is for you.
(10:37) This is for the parents, make sure your kids watch this. There’s so many opportunities all around us. You can do it in a really great way and it just builds a foundation regardless if you wanna go to university or become a doctor. These are transferrable skills, so I hope this video finds you incredible well and as per usually, I wanna challenge you to live a bigger life and a bigger business, and I’ll see you next Monday.
(10:57) If you like this video, be sure to subscribe to my channel. I’d also invite you to join my newsletter where I share exclusive invites to contest, other training and even live events. And if you’re ready to keep going, I got two videos queued up for you. I’ll see you next week.