Dropping out of high school was the best thing that happened to me!
Sometimes in life, you have to make those tough decisions. Decisions like this are what defines the next few years, and there is always a risk involved.
For me, it was dropping out of high school at 16.
My name is Jacob Reiche. Today I successfully own and operate two exclusive brand stores on the internet, own and operate a gaming business, and am currently working myself up to becoming a day trader, creating a network of analysts and experts.
Adding to that, I recently sold one of the labels that I built from scratch for an insanely high amount to a large conglomerate.
My resounding success allowed me to own a Porsche at just 16 years, and now I am also looking at acquiring a Lamborghini or a Ferrari soon.
So how did an ordinary boy from Michigan achieve all this in such a short time?
I am sharing my story on how an ordinary teenager broke into stardom as inspiration. I want to share that if you have the willpower and the commitment, anything is possible.
When I write all my achievements out loud in one sentence, it looks pretty glamorous, but in those words lie countless hours of effort, dedication, and patience.
Here’s a bit of me — I’ve always been a big dreamer, and I’ve always worked like an addict on whatever I took on.
I was determined from a very young age to look at investments and, most importantly, starting my own thing.
So the first place I go to was the internet. The internet is a beautiful place to be with unlimited earning potential — you have to look in the right places.
I wanted to take on something completely new, and that’s when I came upon the concept of an eCommerce store with the ability to sell lucrative products and bring insanely high profits.
The store was the starting point of my earning online, and then I later stumbled upon stock trading and the success story of becoming a day trader.
Essentially, my story can be split into two parts.
1 — The Brand Store Owner
Starting a brand store was a massive decision that I had to make because I entered an already established market with thousands of sellers.
That was challenge #1 for me.
But if there was anything that I loved more than taking risks, it was undertaking challenges and working towards achieving them.
I took on the challenge wholeheartedly, researched what’s on-demand, the most cost-effective options to list, and started my journey.
I wanted to sell several different options to get the best of different markets, so I chose to list multiple brand stores online.
I started the stores as dropshipping stores where I listed products and shipped them from the suppliers, but I realized it was much more profitable to buy in bulk and handle the shipping.
With some effective advertising on digital platforms, I scaled up my store to something way more significant — to a level that was not in my wildest imagination. When I did this, I understood I needed to diversify, so I replicated the effort, and today, I own two successfully thriving online stores.
After receiving a good offer from an established business that wanted to pursue their interests in my store, I sold the third.
Here are three essential things I received along the way.
1 — Do what is best for you
Yes, dropshipping is cool and trending, but if it doesn’t help you financially, don’t pursue it.
I started out dropshipping, but then I later figured out that I could maximize my profits and offer a better product by buying in bulk.
Dropshipping had its advantages, where I didn’t have to handle the bulk of the work, but when you outsource, you have to depend entirely on your suppliers from packing to shipping, and that was one thing I didn’t want to do.
2 — Marketing is EVERYTHING
One significant mistake that most of the dropshipping store owners and eCommerce store owners commit is believing that setting up a shop is all they need to do.
I am here to tell you; it’s not how it works.
Setting up your online store means you are only halfway there. The next half is in the effort you put into marketing. My store made the increasingly high sales amount before I sold because of the effective Facebook ads that I ran.
Spend on marketing, thank me later.
3 — Maximize Opportunities
If there is an opportunity opening up, don’t waste time — take it. But before you do, do your diligence and weigh the pros and cons.
That’s what I did when I sold one of my brand stores a few months ago. I had a lot riding on my plate at the time, and the offer was a significant number, so I said yes.
2 — The Stock trader and Day Trader
After making progress with the eCommerce stores, I figured it was time to venture onto something new. Taking on a new trade meant that I needed to dedicate a little more time, but I knew I had it to provide the commitment based on my work routine.
That was when I made it to stock trading. As I learned the trade, I made an important move to attract analysts and experts to a group. This way, I had the opportunity of learning the tricks and insights of the trade through experience.
Stock trading and day trading is an art of their own, and within a few weeks, I was pretty informed about how the entire process works, learning the ability to read graphs and understanding the industry.
Like how I love taking risks, I am also a hard-working individual, but stock trading brought in a new challenge. Although I learned a lot from the analyst group, I had to apply a few things that I knew, put them to the test, and see them myself.
Stock trading and day trading was more of a learn-on-the-job kind of approach. The approach wasn’t new, but the learning was.
I struggled in the first days, but I soon caught up with the trade.
If anyone tells you that handling stocks is a complicated affair, the truth is that they are just lazy and don’t want to commit the time. Here are three vital tips and learnings that I realized after making it to the field.
1 — Day Trading is a full-time job
Unless you treat day trading as a full-time thing, you will not be going anywhere too soon.
Day trading involves a daily effort to monitor, predict and make investment decisions. You cannot miss out on even a single day because the market changes every single minute.
2 — Knowledge is Power
In addition to the basic trading knowledge, I had to keep myself abreast of what’s happening in the stock market, the news, and the events that affect stocks.
So a lot of homework needed to be done. My browser had almost all of the financial websites bookmarked, and I made it a ritual to check on each of them daily because I was determined to succeed.
3 — Use a Stop Loss
I initially struggled to cut my losses, but using a stop-loss helped me cut my losses and get the better of my investment.
As a beginner, you aren’t looking for the big fish, but small wins and the stop-loss option allowed me to cut my losses significantly.
A stop loss is a request to buy or sell a specific stock when it hits a certain price. Because the price fluctuates over time and the stop loss is like an automated tool to make your purchase and sell decisions for you.
This way, I had better control and made better investment decisions along the way.
What’s Next?
Dropping out of high school was perhaps the best thing that I did in my life. It was a bold move, and to this day, I am proud that I took the step.
But, If you are still in high school or college, don’t be motivated to drop out just because I dropped out. Dropping out of high school was a decision that was important for me; you might be having your own goals and decisions.
Thanks to that, I today thrive as a successful entrepreneur running established brand stores and now trying to build up the ranks as a day trader.
Who knows what’s next in Jacob Reiche’s story, but I know this for sure — whatever challenge comes ahead, I will also dedicate my 100% and have that willpower to see it succeed.
And, the best part is, even you can do the same and be successful in life!
