Comments on: Start the next Facebook?

By: Ryan @ Planting Dollars

Ryan @ Planting Dollars — Fri, 17 Dec 2010 06:13:05 +0000

Couldn’t agree more with the idea of starting side business(s) on the internet at a young age. I started learning html my senior year of college and really wish I would’ve even started earlier on learning seo and web development.

I think it’s still possible for anyone to moonlight doing this stuff no matter the age though.

By: Are you still relying on your mother?- 7million7years

Are you still relying on your mother?- 7million7years — Wed, 15 Dec 2010 08:46:55 +0000

[...] http://7million7years.com/2008/08/22/start-the-next-facebook/ [...]

By: Multi-B

Multi-B — Wed, 10 Jun 2009 02:02:50 +0000

I think the next facebook will be a website that doesnt depend on profiles, blogs, or user to user messaging systems. Something that has an actual goal, and that can be updated everyday. Facebook, Twitter, and Myspace are all same in concept, just set up differently. [link removed]

By: Riding in the big boat while carrying the little boat … « How to Make 7 Million in 7 Years™

Sat, 22 Nov 2008 16:28:22 +0000

[...] money, fast, then you may have building the next Facebook in mind and this article (along with this one) presents a way to get off the ground with minimal [...]

By: College is over. Time for Plan B? « How to Make 7 Million in 7 Years™

College is over. Time for Plan B? « How to Make 7 Million in 7 Years™ — Tue, 18 Nov 2008 14:56:00 +0000

[...] College is over. Time for Plan B? Published November 18, 2008 Rich A while ago, I took a risk on this blog … I gave some potentially risky, dangerous, damned GREAT advice! [...]

By: I’m about to find out if you can make money online - Part IV « How to Make 7 Million in 7 Years™

Sat, 23 Aug 2008 18:14:47 +0000

[...] AJC Feed – See AJC Live! « Start the next Facebook? [...]

By: AJC

AJC — Fri, 22 Aug 2008 17:35:07 +0000

@ Ravi – Then, you’ll love this list (Million Dollar Home page is at #1):

http://nichegeek.com/10_totally_stupid_online_business_ideas_that_made_someone_rich

@ Matt – Absolutely! And, what’s the problem with living like a (soon-to-be-rich-if-I-get-incredibly-lucky-and-what-have-I-lost-if-I-don’t?) grunge for a while, when you’re still in college, anyway? Hard to do once you’re older and those commitments start to pile up …

@ Josh – No … because there’s an incredibly high ‘risk component’ to all of this; if things don’t work out as planned you move to Plan B: stay tuned

@ Richard – good advice … advice that is mirrored in an otherwise exceedingly flawed book , but one that I recommend to you because the author started a brick’n'mortar business in college and shares his (very interesting) experiences in one chapter:

http://www.amazon.com/Proven-Ways-Become-Millionaire-three/dp/0979313988/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1219426482&sr=8-1

By: Richard

Richard — Fri, 22 Aug 2008 16:48:52 +0000

The next Facebook has come and gone 1000 times already – and things aren’t looking so hot for the original either. I totally agree with AJC that business is the way to go (if you’re buying stocks in high school you clearly have an interest in it) but there’s still many different ways to approach it.

If you start a small business (basically bring a small improvement to an existing market or serve a group of customers that’s being ignored) and grow it by yourself for a bit until you understand the market and have a customer base, hiring one person could give you the same profits as investing hundreds of thousands of dollars in bonds. You still have to work for it but it mostly depends on you and this puts you years, even decades ahead of the “work and save” game.

This is basically where I am two years out of university; had I started to do this between classes I could have had a stable business that ran without my continuous presence before graduating. It’s doesn’t mean you can retire as you graduate, but if you’re interested in business you’ll probably want to keep doing something even after you make your millions – having even a small amount of income that doesn’t depend directly on your work puts you on the right path.

It’s certainly not impossible to skip all the actual business experience and make millions starting from nothing in a very short time, but you don’t want to be like the guy who lied his way into $2M of real estate “investments” after college only to find out that yes, the housing market CAN go down. Remember that while the average career has a linear salary growth (at best), in business your income can grow faster and faster over time. Taking it one step at a time and starting out with a few slow years doesn’t put you out of the game at all.

At the very worst, if you take a long shot and fail you’ll learn something (if you’re smart). It really depends on how sure you want to be that you won’t need a job when you graduate.

By: Joshua

Joshua — Fri, 22 Aug 2008 15:50:17 +0000

I wish I knew what Alex knows now when I was first starting college.
AJC, would you suggest someone in Alex’s position to possibly skip college and just work on money making 201, saving years that would be used on Money Making 201 activites? Sometimes I think this is what I should have done.

By: Matt

Matt — Fri, 22 Aug 2008 14:07:50 +0000

Had someone told me this type of strategy when i was just leaving high school I would have been incredibly happy to go for it. The older you are the more risk averse you become.

Great post. Now I just need to find the next facebook idea.