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Hi everyone, been a few days since I posted here, and honestly something has been on my mind for a few days now, especially given that I may have made a mistake on the business idea I am pursuing which is why I am making this post.
For those who do not know and to keep the post short, my business idea consists of 2 phases :
- Phase 1 being selling google ads as a service to XYZ niche ( The goal is to get sufficient cashflow to fund phase 2 ), essentially phase 1 is service ( time ) for money
- Phase 2 - Use cashflow to fund google ads of our own as a DBA ( doing business as ) in the niche the clients were in, build out a sales team and own the "customer generation" side in that niche and have subcontractors fulfill work or build out the fulfillment aswell and then scale location by location
Currently, I am stuck at phase 1, and I've been working on it since april, but I am unable to figure out a way to find clients for the service and I think there's a couple reasons for that :
- Saturation, competition, entry barrier/need - everyone can call themselves a google ads guy/girl and pitch the same clients, driving the prices down, competion going up etc. That's why I wanted to figure out a way to provide a way better solution to the "lead gen" problem, and I've been doing my best to figure out ways to skew value and have something way better then what exists right now, but I am unsuccessful at it, I am sure there's a way to improve it, I am just unsure how to approach the problem and derive the solution out of it if you know what I mean?
Secondly, I wanted to talk about another thing that crossed my mind 2 days ago, when I saw the graph @MJ DeMarco had a post about like where there was one axis representing the level of effort needed and the amount of money it can make ( it basically showcased how MJ's ventures all fell into the category of high effort, high reward ), and I remember years ago I read a book called Pursuit of Excellence or something like that, where the author is the Blackstone guy and he says choose a business with big potential, because running a either a restaurant or a big potential business is as hard, but the rewards are asymetrically different.
For me, and this may be subjective which is why I want to hear from other people phase 2 of my idea would be something that is very hard, very high reward, but to get to that, I may spend a year/two or even more on doing very hard ( phase 1 - essentially a marketing service ) with minimal upside, which is a bad ROI on time in my opinion, and I am saying that because I am thinking if I spend some time into figuring out a better idea, at year 2-3 I can have a higher upside unlike with the phase 1 if you know what I mean, am I wrong on this one?
And I do want to mention, I am very strict on myself and disciplined, I wake up at 6am every day, knock out my routine ( gym, breakfast ) and I can and do work up until at least 6-8pm, with small breaks every 2 hours ( right now most of that time is actually spent on me frying my brain to actually think of a way to skew value for phase 1 and it's not going well ).
Like I've already made up my mind that I am willing to sacrifice everything in my life to pursue Fastlane and to achieve it, not interested in anything else until I get that, so yeah, sorry if the post is a bit of a ramble, but I genuinely feel stuck/blind to what I should do to go about solving this problem I have.
Thanks for reading.
For those who do not know and to keep the post short, my business idea consists of 2 phases :
- Phase 1 being selling google ads as a service to XYZ niche ( The goal is to get sufficient cashflow to fund phase 2 ), essentially phase 1 is service ( time ) for money
- Phase 2 - Use cashflow to fund google ads of our own as a DBA ( doing business as ) in the niche the clients were in, build out a sales team and own the "customer generation" side in that niche and have subcontractors fulfill work or build out the fulfillment aswell and then scale location by location
Currently, I am stuck at phase 1, and I've been working on it since april, but I am unable to figure out a way to find clients for the service and I think there's a couple reasons for that :
- Saturation, competition, entry barrier/need - everyone can call themselves a google ads guy/girl and pitch the same clients, driving the prices down, competion going up etc. That's why I wanted to figure out a way to provide a way better solution to the "lead gen" problem, and I've been doing my best to figure out ways to skew value and have something way better then what exists right now, but I am unsuccessful at it, I am sure there's a way to improve it, I am just unsure how to approach the problem and derive the solution out of it if you know what I mean?
Secondly, I wanted to talk about another thing that crossed my mind 2 days ago, when I saw the graph @MJ DeMarco had a post about like where there was one axis representing the level of effort needed and the amount of money it can make ( it basically showcased how MJ's ventures all fell into the category of high effort, high reward ), and I remember years ago I read a book called Pursuit of Excellence or something like that, where the author is the Blackstone guy and he says choose a business with big potential, because running a either a restaurant or a big potential business is as hard, but the rewards are asymetrically different.
For me, and this may be subjective which is why I want to hear from other people phase 2 of my idea would be something that is very hard, very high reward, but to get to that, I may spend a year/two or even more on doing very hard ( phase 1 - essentially a marketing service ) with minimal upside, which is a bad ROI on time in my opinion, and I am saying that because I am thinking if I spend some time into figuring out a better idea, at year 2-3 I can have a higher upside unlike with the phase 1 if you know what I mean, am I wrong on this one?
And I do want to mention, I am very strict on myself and disciplined, I wake up at 6am every day, knock out my routine ( gym, breakfast ) and I can and do work up until at least 6-8pm, with small breaks every 2 hours ( right now most of that time is actually spent on me frying my brain to actually think of a way to skew value for phase 1 and it's not going well ).
Like I've already made up my mind that I am willing to sacrifice everything in my life to pursue Fastlane and to achieve it, not interested in anything else until I get that, so yeah, sorry if the post is a bit of a ramble, but I genuinely feel stuck/blind to what I should do to go about solving this problem I have.
Thanks for reading.
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