What's new

Search results

  1. Scot

    What Are Some Examples of High Income Skills?

    HOT! 
    Sales
  2. Scot

    TAMPA BAY, FL Fastlane Meetup

    MEETUPS 
    Vig and I live closer to Clearwater than Tampa. Could do something this side of the bay. There are a couple of good local cigar places. If we can’t arrange something I’ll pass those on.
  3. Scot

    You’re not selling wholesale?

    NOTABLE! 
    Have you asked the distributor what kind of margins they need? For example, while speaking to a potential distributor, I flat out asked, “what margin would you need to make this deal work?” To which he replied, 30%. I got into detail on this earlier in the thread while talking about margins...
  4. Scot

    You’re not selling wholesale?

    NOTABLE! 
    First, do you have to pay VAT on wholesale? In the US, the end user is responsible for collecting sales tax, ie the store actually selling to the customer. Find out if this is the case in the EU, because it should be tax exempt. 35% is no where near enough for a distributor, they still need to...
  5. Scot

    You’re not selling wholesale?

    NOTABLE! 
    Honestly, they’re probably sending a check to Belgium... You should consider finding a service that has a US address they can mail a check to and have it deposited. Bake whatever fee that service charges into the wholesale cost. It’s also very important to make your Net teens very clear from...
  6. Scot

    Anyone else think basic coding is one of the most important skills new entrepreneurs could have?

    RANT 
    Easy. Start by wholesaling realestate (the we buy ugly houses guys). It requires zero cash to do. Or, do what most early RE guys did, find and investor and use their money. It’s actually a lot easier than you think. I guess I should feel honored you consider me a “season entrepreneur.” Dude, I...
  7. Scot

    You’re not selling wholesale?

    NOTABLE! 
    I accept credit card via Stripe api in my invoicing software.. but no one will ever use it. Retail is antiquated and works 100% on checks.
  8. Scot

    5 seconds to validate your idea

    HOT! IDEA 
    Oh man, that’s opening a whole can of worms when it comes to finding your industry or niche. There are whole books written about this topic. Here’s what I’ll say though. Bra thing a website like this, trying to find an industry that looks promising, probably won’t be the best method for...
  9. Scot

    Anyone else think basic coding is one of the most important skills new entrepreneurs could have?

    RANT 
    If you think coding is more important than sales, you’re limiting yourself to a tech based industry. Sales is universal. Every single business, in every industry, will need some element of sales. The most obvious industry where coding is 100% irrelevant are any physical products. I sell...
  10. Scot

    5 seconds to validate your idea

    HOT! IDEA 
    I honestly never dove that deep into the website. It was more of a validation tool for me. How much do you think your business will rely on this type of data to get off the ground? Would your time and money be better spent just talking to potential customers?
  11. Scot

    Fastlane idea? ICO kit?

    IDEA LANDFILL 
    @LittleWolfie how many threads are you going to start? Have you read the full book yet?
  12. Scot

    Stop, saying it doesn't take money to make money and prove IT

    LANDFILL 
    DING DING DING Dude, honestly, what are you hoping to get out of this forum? Posting senseless philosophy or debating semantics gets no one any steps closer to succeeding at business. This forum isn’t reddit. We’re here to contribute value to succeed at our own business or help other to...
  13. Scot

    Either have startup capital or sacrifice equity?

    And that’s the big distinction. As @LittleWolfie has mentioned in his intro thread, he doesn’t want a big exit or $10m in the bank. For him, 100% control of a $1m business is ideal. However, I plan on a 5-7 exit. I plan on following the MJ model of, build it big and profitable and sell it off...
  14. Scot

    Stop what you're doing. Get a line of credit.

    HOT! 
    Lines of credit work really well on businesses that have a lot of acounts receivable. My business for example, I have to run production on inventory, then ship to customer and invoice them, wait 30-45 days to be paid. So, I usually got a 60 day cycle between having to buy the product and getting...
  15. Scot

    Stop what you're doing. Get a line of credit.

    HOT! 
    For someone who’s admitted to not succeeding thus far in business, you’re talking a big game. Most of the successful players on here all have active lines of credit. They’re extremely valuable tools to use to have access to larger capital at lower interest rates. The pattern I’m seeing here...
  16. Scot

    Either have startup capital or sacrifice equity?

    The problem is, everyone starting the journey into entrepreneurship thinks giving up equity for capital is a bad idea. Until you realize that you could really use an investor... 6 months ago if you asked me about investors, I’d have told you I would never need them. But now, I’m actively...
  17. Scot

    Either have startup capital or sacrifice equity?

    This question is completely relative to what your business is. If you have $100k in personal money to start a business... That’s more than enough to start an amazon import business Not even close to start a bio-tech company. Investors aren’t just for money. For example, investors can be get...
  18. Scot

    Cigar Afficionados in the House?

    OFF-TOPIC 
    This week kicked my a$$. I deserve this. Local hand rolled Tampa cigar and local Tampa cigar drinking beer. https://tabanerocigars.com/
  19. Scot

    Got $10K? Amazon Wants YOU to Deliver Packages

    Also, as a side note, do some research on what it’s like to work for Amazon. They’re notoriously bad to their employees and have high turnover rates. I can’t imagine they’d be better to their vendors.
  20. Scot

    Possible Opportunity with Amazon

    SIDE HUSTLE 
    Got $10K? Amazon Wants YOU to Deliver Packages Already a full thread on this.

Welcome to an Entrepreneurial Revolution

The Fastlane Forum empowers you to break free from conventional thinking to achieve financial freedom through UNSCRIPTED® Entrepreneurship where relative value and problem-solving are executed at scale. Living Unscripted® isn’t just a business strategy—it’s a way of life.

Follow MJ DeMarco

Fastlane Resources

Get The Books that Change Lives...

The Fastlane entrepreneurial strategy is based on the CENTS Framework® which is based on the three best-selling books by MJ DeMarco.

mj demarco books
Back
Top Bottom