New year, new needs to be fullfilled

[lincoln84]

Alright i have finally managed to get my motivation up and my mindset changed. 2014 was a bad year for me no doubt about that, a lot of things i tried failed. I see 2015 as an new opportunity to reach higher and get better results, I promised myself, that i will leave this negative mentality witch ruled my life in 2014 behind me and start fresh. I have realized that money is not the most important thing in life and it dosen`t make you feel as fulfilled as solving a need. When you manage to resolve a need, you will feel better and the money will also come as a reward. 2015 is the year when i stop chasing money and start providing value !


I created this thread to be my diary for business ventures that i take on this year and the following years. Ultimate goal of course is to reach the fast-lane and complete freedom do to anything.

I am currently based in Estonia witch is a small country in northern Europa, it might be small by size but this country has over 250 000 businesses ( total population is about 1.2 million people). It is one of the leading and one of the first e-countrys in the world, this means there are a lot of opportunities if you can find them.

My first plan of action is to start in the agricultural and real estate market. Currently i am in the process of finding good businesses from these markets and contact them first by email and later on the phone or in person.

I will update this thread daily and also wish you all happy new year ! Lets make this year epic my fellow fastlaners !

 

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[Unfettered]

Yeah Estonia does have a lot of opportunities, most small businesses are completely half-assed.

 

[lincoln84]

Progress update

I have sent out over 30 emails during the weekend to agricultural companies, so far i have not gotten any answer probably because the businesses do not check their email during the weekend. I will follow up with calling tomorrow and today i will send out more emails. Lets hope everything goes good.

 

[lincoln84]

So i am officially in business now. On Monday the 16th of February i received the confirmation from the UK business registry that my company is registered . Some of you might question, why didn`t i register in Estonia? The reason is simple, in the last year the government has made a lot of stupid regulations that are right now really causing a lot of trouble and more work for entrepreneurs here No wonder successful Estonian start-ups like grad-cab and transfer-wise have moved their business to UK.

My company is named Technofy and as the name suggests it is going to solve needs and develop new innovative technology. By observing my environment i have found a lot of needs that i am going to solve one by one starting with the most biggest problem. So back to work now!

 

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[lincoln84]

I have run into first problems with my business. I am having difficulty getting a bank account for my start-up. I can`t seem to find an English bank that is willing to open a bank account for me without request big initial capital (starting from 5 million euros) because i am a foreigner. Their recommendation was to contact local Estonian banks who also don`t seem to be very delightful about it. It has really slowed my progress. Tomorrow i am having a meeting with my Estonian home bank manager who deals with foreign companies and let`s hope that we can find a solution. This paper work and stuff is really driving me crazy, i haven`t yet gotten to the point where i can start to create a working prototype for my idea.

 

[randomnumber314]

Rather than fixate on the paperwork and bank stuff, can you approach potential customers and pitch your idea to them? Get their feedback and once they say they like the idea, see if they will pre-purchase the prototype. Saves you from risking your cash.

 

[lincoln84]

Hello, long time no see!

What i have been doing since the last time i posted here. Well i went out to the real world took a job, to communicate with customers and get their opinion about the idea. I received a lot of positive feedback about the idea and already got some people interested in signing up for the service when it is ready. I also partnered up with one of my best friends who also supports this idea and is currently working very hard to get together the capital needed for this project(we need money for a patent and execution).
A little bit more about or service:

Does it not bother you, when opening your wallet and you need one card, you have to flip through maybe 10 or even more cards to find the client card or bank card you need(or maybe you have lost it or forgotten home)? Or service is working towards the goal of replacing the need for all the cards, we can do this thanks to recent developments in technology. People can go to the store and pay for services and etc just by scanning their fingerprint into our device, which then id-s the person and makes sure that he or she has enough fund to pay for the service(no need for a bank card anymore to do this), the system can also detect all discount cards. Sure there is apple pay and google wallet as competition but their also have one very huge weakness. Their service uses all their different gadgets to id the person, but what if you happen to run out of battery while shopping in the mall? Our service will use terminals which are going to be located in stores and don`t depend on a gadget.

As said before currently we are developing a prototype and gathering money for execution. I am also starting another business on the side in the meantime to gain some experience of building a brand(will describe the business in another thread) and running a business.

Wish you guys all the best in your journey!

 

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