Dane Maxwell- Build Software Companies in 6 months w/o money, experience

[Mike39]

He didn't get out of software at all, its just run by a CEO and some other employees.

I think Dane has legitimate reasons to focus on teaching. Of course he is making more money with this than with his software businesses if you do the 300x $800/month calculation, but you have to deduct the cost for his employees (and/or partners), all the preparation time and after all this kind of income is "only" over 6 months (decreasing if people drop out). Also the foundation is not passive for him.

I'm absolutely sure if he wouldn't do the teaching he could have created some more software products and made more passive income with it than he does with the foundation.

Just look at all the successful people here and how they enjoy the process of giving back. Its basically the same thing, they give up a potentially higher income for the time spent to help others.

That said, I was turned of by the launch (in the sense that I wouldn't buy into something like that),but will still follow his model of creating a B2B software business. Also there is A LOT to learn from this launch from a marketing perspective.

I would love to learn how he goes about doing launches, he is very, very good at it! I read there was something a while back like a peek inside the inner workings but I am pretty sure I missed the boat on that one, plus it was like $500 bucks :nonod:

 

[AgonI]

I actually did not get a response on my application. Maybe because I answered with "0 investment budget" on the question how much money do you have to invest... I thought he was going to show us how to make it happen with no investments upfront lol 800$ per month, God I can't think of ANY reason to commit to such a fee , unless you have money to throw away. But yeah Dane is a great marketer def. !

 

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[Jake]

It's brilliant like Pinterest. You need an invite from a current member to become a member of Pinterest. Makes it more exclusive.

This is also how Gmail launched. People were begging for invites

 

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[Mr.Dietsch]

This Nation guy sounds like a salesman for Dave.

 

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[Mr.Dietsch]

this probably says more about you then it does me.
Text is a limited medium & I am doing the best I can, but you always read into the text based on your world view.

I'm pretty sure there is nothing I could do the change your opinion, but maybe if you just assumed for a moment that I am not & everything I ever said was true you might, who knows?

Man I am sorry, but too be honest I would rather spend the $1800 on my business and lose the money that way. I don't know if you have heard this analogy before, quite a few members here have I am sure, but let me inform you. My soldiers(money) are my allies that fight for me in war(business). I do not casually throw away my soldiers, I use precise tactics to build a bigger army, I do not wastefully expend my soldiers unless for necessary goods.

Like you said, I am pretty sure there is nothing I can do that could change your opinion, but please read TMF , it might just save you $1780.

 

[theag]

The greatest lessons from gurus are what they DO, not what they TEACH.

Pay. Close. Attention.

With the execption that this guru is preaching a legit business. SaaS has A LOT of potential. And his idea extraction process is also very good.

But, again, this isnt true for the foundation, which is clearly a guru thing.

 

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[Guest12120]

It's a great idea to compare TMF with The Foundation. I saw some of Dane's videos and they seemed to be be valuable. Especially this one Sam Ovens Case Study: How To Build A Web Based Product Without Any Idea, Limited Cash, Or Development Experience It seems pretty Fastlane. Find the pain, have someone create software for you that helps your customers alleviate this pain, enjoy the passive income. Sounds easy

 

[nategoddard]

Have you read TMF ? It'd be nice to hear your feedback when cross-reference to the book.

Hey MJ, I'm on chapter 36 right now (started a couple days ago). It's definitely the best book I've read on business. The way you explain things is simple, yet profound. It is rewiring my brain and the logic just clicks.

The SaaS business model is definitely Fastlane and the way Dane runs things is like taking the pages right out of your book. Recognizing limiting beliefs, finding the pain, validating if the idea fills a real need in that industry; these are all things that are focused on.

 

[nategoddard]

Find the pain, have someone create software for you that helps your customers alleviate this pain, enjoy the passive income. Sounds easy

It is a simple concept, which makes for a nice road map, but definitely not easy. Cold calling businesses, spending hours on the phone digging into their problems, dealing with angry people (it happens), failing, trying again, failing, etc.

At the same time though, getting pushed outside of my comfort zone on a daily basis is making me more competent and confident.

 

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[MJ DeMarco]

but this one just seems like a ploy to extend these artificial deadlines until he gets more subscribers.

Indeed. Scarcity sells.

"OMG, so many people joined that our merchant accounts have crashed! We will extend the deadline one more month!"

Just look at our own B&P -- sold out in a day or so, reopened for a few new spots and bam, sold out again in litearlly hours.

I don't really see your point.

You don't know when you're being marketed too?

As I mentioned before, pay more attention to what the GURU does, versus what he teaches. (Although the advice you posted thus far, seems solid and actionable.)

 

[MJ DeMarco]

okay, is that wrong?

It depends if you interpret the approach as genuine or fabricated.

 

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[MJ DeMarco]

You mean building a software company?

I'm curious ... are you a shill for his program?? You have no other posts in this forum except for this thread, and you are extremely defensive of anyone questioning his program/motives.

 

[fellipe]

nategoddard just proves how committed a person becomes (to the point of defending it) the moment they invest resources (time or money) into something.

^ Try to apply this to your business.

 

[nategoddard]

nategoddard just proves how committed a person becomes the moment they invest resources (time or money) into something.

^ Try to apply this to your business.

Obviously my intention of providing an honest perspective on this isn't something anyone is really interested in so I'll move on.

One would think an open discussion on SaaS, which is probably the most Fastlane of any other business, would especially be welcome here.

I wish you all the best.

 

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[evanwebb]

Don't leave so quickly! I think there are people here interested in SaaS.

Understand that people on this forum are skeptical of "Gurus." Dane has positioned himself as a guru.

The criticism you see that appears directed at you is only because you haven't introduced yourself (create a new thread and talk about yourself (not Dane), this is the only thread you have posted in (the experience you are getting in the program is valuable and you can make suggestions to others based on what you learn and apply in your own business), and every post appears blindly supportive of the foundation.

Steps I hope you take:
1. Make a proper introduction thread
2. Contribute your experience and knowledge in other threads on the site
3. Start your own SaaS thread (not a "Dane Maxwell thread")
4. As you learn from the foundation, share your progress in your new thread with the other entrepreneurs on this site

This forum works because people of varying backgrounds and experience share what they have learned and are learning. It is a give and take. The more value and insight you provide, the more you will find.

 

[MJ DeMarco]

Then he morphed himself into another shovel-shelling Goo-Roo separating the dreamers from their money.

Can you elaborate? I always found Pat's stuff of high-quality and of high-value.

 

[Mike39]

Yeah, I know what he meant. But we're not talking about a consumer iPhone app here. This is about pre-sold business applications with a solid business and marketing plan in place. No good developer in their right mind would decline the opportunity to be part of a promising tech company with proven business model and instead work for his standard hourly. Hence, I can't really take his laugh serious.

I think that many, many, developers think of their skillset as a job, they want to be paid so they can afford that new bimmer payment, when they hear the words equity they immediately translate that into "I'm working for free with good possibility of no payout", no matter the pre-sold"ness" of the software.

If you have pre-sold the software, you should just get an investment/loan to pay the developer straight up, that way you are not giving up as much valuable equity which you know will be worth more in the future.

I am not saying it is impossible to get a developer on board with just equity. If you have pre-sales and can really sell him on the dream, I don't see why you couldn't' convince someone, it would be much easier to get someone local on-board for equity then non-local, preferably even bring him on as an in-house developer.

Still, like I said, if your company is really doing well enough for equity to be a valid form of payment, I would want to hold on to as much of that as I can, pay the guy with a small loan and be done with it, that's just me. The only time I would bring on a developer is if I see a need for a long term, dependable developer needed for constant updates and more work than regular payment would be worth.

And yes, before we go pointing fingers here, I have a lot of experience with hiring outside of just iPhone apps

Edit: the laugh was not supposed to be offensive, I am not trying to upset anyone

 

[Epictetus]

Hey guys, stumbled across this thread while browsing around and figured I'd join up since I've nearly finished TMF (amazing book, props MJ).

I am a current member of The Foundation, I am definitely having a blast with it. If anyone has any questions fire away. I can understand both sides of what I've read in this thread, undoubtedly Dane has set himself up as a guru and is using every sales trick in the book to make sure people sign-up. At the same time, his software business would still be more profitable or roughly equal to what he earns from The Foundation.

The real value of the course for me comes in the idea extraction techniques. Dane is exceptional in this regard and he uses the technique even now when he interviews people. I saw a bit of a talk in this thread that he gives away enough of his technique to do it without doing the course, but I'm not convinced about that. You could probably start and figure it out, but it would be extremely difficult to get right. Even with all the answers and coaching it's difficult but at least you know which track to go down. I've spent an hour and a half on the phone to businesses and have only managed to dig down to a painful enough problem in the last 10 minutes of the call.

Either way, I think I'll be pretty active on these forums and I'll let you guys know how I go. Looks like a great community here!

 

[theag]

Do you really think that we won't see your posts as the promotional spam they are, just because you bought the INSIDERS subscription?

 

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[Epictetus]

In one of the videos he said he's making about 10k/month, if I remember correctly. That 10k is enough to make his members happy, if they believe they can replicate it.
As with everything in life- only a small fraction of the people will get there.

It's a fair bit more than that. If you Google Zannee it shows his products. I believe Paperless Pipeline is in the $50,000-$60,000 a month range and still growing fast. It's reached 1 million total revenue just this month, Recruiting Ninja makes above $10,000 a month from what I can tell, probably closer to $20,000.

And yeah, definitely a small fraction. There were a lot of mistakes made by members in the first Foundation, and one of the first pieces of content in this one were interviews with past members. Made a huge difference in highlighting a heap of possible pitfalls and how to avoid them. From what I'm currently seeing, I'd say there will be 10-20 successful businesses this time around.

 

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[andviv]

I like to hear the opinions and comments from the people that are current members. I am learning a lot by just reading what they post.

I have built a website and am making cash using the priniciples in MJs book.

This is great. I am sure MJ would love to hear about this to be added to the success stories. Rock on!

All this turn key BS is driving me nuts.

I don't see why you think like that. There's got to be something to it.

If what you say is true (and I believe it is), then: The market has spoken. They want Turn Key solutions.

Give them what they want, make it easy for them, they will run desperately to your door throwing money at you.

Is your website providing your customers with a 'turn key' solution to a problem? (I am sure it does, that is why you make money, right?)

I am sure people pay you money for making their life better/easier.

Pick up the systems highlighted in the book and fill the need.

In my opinion, from the book, there is no better system/advice than "listen to the market".

How are you filling the needs of this market that wants everything 'easy'?

Selling is the hard part. It always is.

105% in agreement with it. And based on what the members have mentioned here, they have to call and talk to companies, talk about needs, figure out ways to fill them, and also discuss pricing. Sounds a lot like selling to me.

As MJ says, ideas are cheap and implementation is everything. The Foundation is effective because you're getting very good ideas and finding people who want them at the same time and then executing them rapidly and efficiently.

Makes sense, and it does sound simple. I am very sure it is very hard. I struggle with that every day in my professional world. I need to find out what it is that they want and then find a way to deliver it to them and profiting while doing it.

In one of the videos he said he's making about 10k/month, if I remember correctly. That 10k is enough to make his members happy, if they believe they can replicate it.

$10K profit? Not bad.

How much are you making per month with your business these days?

There were a lot of mistakes made by members in the first Foundation, and one of the first pieces of content in this one were interviews with past members. Made a huge difference in highlighting a heap of possible pitfalls and how to avoid them.

I love learning from others' mistakes. What have your learned from these?

From what I'm currently seeing, I'd say there will be 10-20 successful businesses this time around.

Will yours be one of them?

Looking forward to more updates... I, for one, am learning.

 

[77startup]

That's not true. I filled out the form on 10/16 and didn't get the e-mail with payment information. They definitely have my correct e-mail address as I get some marketing stuff from them.

It seems like it's being used as a disqualifier technique to weed out high-risk applicants from the start who might drop out early, or fail when it comes time to outsource a bit.

 

[InMotion]

So, you pay him 10K so you can learn to start a business with no money??? Good thing, because the reality is, the majority of people would be close to broke after taking the course; so this course really makes sense

 

[Mike39]

The lite tier is for people who are lightly interested.

Now for the serious entrepreneur, there's the serious tier; that's $800/mo.

Now wait, there's more.

For the SUPER-SUPER-DUPER-SERIOUS, there's the SUPER-DUPER TIER ... that's $8,000/mo.

Wait so all I gotta to do to be one oh them super duper entrepreneur is pay $8,000 a month! SHUT UP AND TAKE MY MONEY!!

 

[Vigilante]

What can I get for $10?

 

[DavidofMN]

What can I get for $10?

You get to throat punch a guru....

 

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[Epictetus]

Some of the respected members seem to be enjoying the conversation and I'm enjoying the conversation with them. If you don't like thread then there is no requirement for you to open it up.

 

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[ambition21]

Don't any of you feel like you're cheating yourself a bit by joining the Foundation? I mean, even if the investment proves worth it and you manage to create a profitable business, I imagine achieving your goals would be much less satisfying/addicting/fulfilling.

There is something about working toward a specific goal by yourself that just makes it that much more rewarding. It seems like joining the Foundation would be liken to paying someone to take the LSAT for you. Sure, when you get that 99 percentile score back you'll be happy, no doubt, but will you be proud and feel like you've earned it? Maybe I'm alone here, but having someone give you all the answers and showing you how to do everything would simply devalue the process.

 

[hobokook]

Don't any of you feel like you're cheating yourself a bit by joining the Foundation? I mean, even if the investment proves worth it and you manage to create a profitable business, I imagine achieving your goals would be much less satisfying/addicting/fulfilling.

There is something about working toward a specific goal by yourself that just makes it that much more rewarding. It seems like joining the Foundation would be liken to paying someone to take the LSAT for you. Sure, when you get that 99 percentile score back you'll be happy, no doubt, but will you be proud and feel like you've earned it? Maybe I'm alone here, but having someone give you all the answers and showing you how to do everything would simply devalue the process.

No, it's like having a business mentor.

Would you say having a business mentor is bad for you?

Even with the foundation, NONE of the work is done for you. You're simply getting advice and guidance.

 

[stolpioni]

Best post on the forum, ever.
This is pure gold. Speed++