Is my business idea fastlane?

[Igor957]

Hello guys, I've read the Millionaire Fastlane sometime ago and now I decided to act. I'm a brazilian guy and watching my local markets I realized there is a huge demand for web designing, mobile app development and marketing on social networks for business owners. Our web designers don't fit the real needs of the market. Their service is awful and they charge a lot for this. Some days ago one of my friends contracted a firm to make his website and they made a website looking like the 90's websites and charged him about 2000 bucks. I have some experience on doing this and I'm sure I could do a so much better work. So I started thinking about opening a business in this market. I could do web designing for desktops and mobile devices and host them on my own servers. Also could offer to manage everything they need in order to get their business online as SEO, paid campaigns and social marketing management. But the focus of my business would be mobile app development for those businesses. This is a growing market and not as popular as it is in US. I think my idea meets all the CENTS requirements.

Need - all the business now need to be online, and this logic is becoming popular here.

Entry - there are very few people on the market and they service is not good at all.

Control - my income will not disappear if I get out. It would have recurring bills.

Scale - when it starts to grow I would sell franchises and hire some developers (there is already a business selling franchises for web development, yet their service is not that good)

Time - it would take a very small amount of time to start seeing results and it is a huge market to be explored.

But I still have some doubts if it's really fastlane. I've seen MJ DeMarco saying that a true fastlane is something that can be automated like selling templates or plugins. At first, my business would not be automated because I'll need to work on it full time. I've tried to construct a website builder like wix.com or weebly.com but then I realized that the average costumers can't even construct a website in a plataform like this. So, could it really be fastlane even demanding some of my hard work at the beggining? What improvments could I do in the future to make it more automated? Sorry for any grammar mistakes.

 

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[wade1mil]

It violates barrier to entry. Anyone with Notepad can build websites.
It violates scale if you're doing the programming yourself. There is only one of you and there are only 24 hours in a day.
It violates time as your business is solely dependent on the time you put into it.

 

[1step]

The main problem initially is that your time will be connected to how much you get paid. Since you have to personally develop each site the "time" requirement is violated. You cannot create 1000 websites the first day, where as you could sell 1000 templates (plugins, products, etc.), because the creation of the sites is tied to your work output.

This isn't necessarily terrible as you can turn this into a fastlane business in the future as you have noted. If you start these companies out on a monthly hosting plan and collect reoccurring revenue from this it will be a good start.

 

[theag]

No

 

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[tafy]

It may not be a fastlane business but thats not to mean you shouldnt do it, I think as a small business it sounds great, if you can hire some employees even better

When your real fastlane idea comes to you later you will be in a better place to execute it.

 

[Kak]

No you are trading time for money, you can only trade so much time for money because time is limited. If you were finding outside developers out of the gate you might have something.

 

[MJ DeMarco]

No ideas are Fastlane, only the execution of them are Fastlane.

That said, this *could* be Fastlane because there is residual, repeat income based on account acquisitions.

 

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[Nebojsa]

As wade1mil already said, you're violating the commandment of entry.
Especially as everyone can learn building websites, seo, etc. within few months, and become an expert.
That's the business I'm in already, and the pay is low, unless you differentiate yourself.

For example you could do only local online marketing, and figure out (mostly on your own) what works
in your local market, and what doesn't. Having this insight will set you apart, and you'll be able
to offer real results for the client, and not just the technology, which doesn't bring any money for the client.
As MJ DeMarco said figure out the pain points of your clients, make inconvinient - convinient for them!

I guess the process that you build, will hugely determine, whether you're close to Fastlane, or just slowlane, by basically being employed.

 

[Igor957]

Thank you everyone for your answers, it helped me a lot!

 

[murk01]

use your time to market the service locally.
out source the work.
collect the profit.

might work, if your not putting in the elbow grease.

 

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