"Fastlane" is an entrepreneur discussion forum based on The C.E.N.T.S Framework outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED®). From multimillionaires to digital nomads to side hustlers who are grinding a job, the Fastlane Forum features real entrepreneurs creating real businesses with one goal in mind: Freedom— both financial and temporal.
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WOW thats a really busy plan... there must be some way to simply you goal, as there is just too much going on in my humble opinion.The Master Plan:
- 0 to 1K with freelancing,(3 months)
- 1k to 10K with Info Biz,(2 months)
- 10K to 100k with FBA,(4 months)
- 100k to 1M with Shopify, (2 months)
- 1M to 10M with Wholesaling. (1 month)
The idea is not about using one business as a trampoline to get into another business. Actually, they are all interconnected. It's really about organically growing a business.
1 directly lead to 2.It is easy to create an info product with your freelance experience. You can also sell it to your freelance clients. Also, the money from freelancing can be used as seed money for your info biz. (You need at least 1k for paid traffic, funnel software, etc before you can make any money in info biz)After it succeeds it'll become a passive income.
Then you can focus on FBA which takes lots of time and money. The info biz takes care of your bills and costs associated with FBA.
Once you created a strong brand in Amazon then you can create a dedicated Shopify store. After that, you can move to wholesale. You should remember that 3, 4 and 5 are for the same product. They are not separate businesses.
This way we can hit the 1 million (or 10 million) mark in 12 months.
The idea is simple but not easy. Come and join the ride!
I've left out something in my intro. After reading Fastlane I went into a problem-solving mentality.I looked around for problems and brainstormed solutions that could become a solid business (CENTS framework). In fact, I had a notebook full of ideas. But all of them are cash-intensive.Perhaps I missed where you talked about what your greater mission is, how you've found a market with a need that you're adding value to.
You don't own the idea. You weren't the first one to think about it and you weren't the one who executed on it. There have been much bigger, more capital intensive businesses launched by founders who didn't have the money - that's the point of fundraising.It's very painful to see someone take your idea and make millions with it. If I had the capital I'd have launched it before them.
Another thing to considered here is that just because someone successfully made millions with "your" idea doesn't mean you would have.You don't own the idea. You weren't the first one to think about it and you weren't the one who executed on it.
They're praised in almost every business publication in India. If I started before them maybe I'd be in their place. Now I never know.Why is it painful?
Yes. But today people are suffering from information overload. If we can remove the clutter and give them a step by step formula, they'd buy.Gary Halbert is a classic, though today...information has to be really great to be able to get much for it. Lots of brands are providing lots of information for free in order to provide value and serve as lead generation.
True.Another thing to considered here is that just because someone successfully made millions with "your" idea doesn't mean you would have.
There could've been 1,000 other entrepreneurs with this same idea, but maybe they all failed. Maybe there's a big roadblock for those trying to create this that held 999 of these entrepreneurs up, but only one was able to overcome it.
Yes. Now they lost focus.They're selling everything from Pizza to Sandwiches. They've diluted their brand.If I started a brand with a sole focus on biryani I may succeed. But, it requires capital.That's why I'm so obsessed with money.Additionally, who said all is lost? Maybe you have something additional you can offer that they aren't. That's a great way to take them over.
I could if I sold in a pushcart. But for getting a lease, furniture, etc the costs add up.Do you already make a killer biryani? Why don't you make money selling biryani? It's rice and cheap cuts of meat plus spices, gotta be some profit.
omg, make me some rib-eye biryani. Or pork belly biryani.
Now that'd be a biryani I'd buy.
It can be done. But the taste of biryani is not my USP. It's the way of delivering it. Packaging it in a box is my concept.What if you did something like cook out of your kitchen and sell directly to people or houses or people at work or other food establishments to help raise money? Gotta find ways to figure it out with what you got!
No, I'm not going to do it. I was really frustrated back then.I really hope you don't mean this , if you are serious you should seek therapy or support.
Thanks, man. It gave me some hope.Now let me give you a little back story. I quit my first job after college because it was just a nightmare and I spent almost 3 years after that having nothing to show for it before things started to get better. and now I'm on my way to my 3rd venture which is a passion of mine because I fell into depression after succeeding in my 2nd one.
I think it's true. I've spent so much time and money in it. I can't just leave it and get a job.I'm also confused as hell.it sounds like you partially suffer from sunk cost fallacy
I'm happy to hear this. I also want to do this.personally I've gone through all this shit just to provide better life for my parents
This man not only cleaned tables but cleaned shoes of the customers when they visited his steam boat shop in the past.I mean I can't get a white-collar job without an education.
Do you want me to clean tables?
Maybe true. But, I bet his neighbors and extended family are not as judgemental as people in India.
Hm..I see. You are confused by guru advice.I've left out something in my intro. After reading Fastlane I went into a problem-solving mentality.I looked around for problems and brainstormed solutions that could become a solid business (CENTS framework). In fact, I had a notebook full of ideas. But all of them are cash-intensive.
For example, I had an idea for a biryani shop. Some background: India doesn't have national food. But biryani comes close. Every region has its own version of biryani. People are so obsessed with it nowadays. I even know some people who eat biryani for breakfast, lunch, and dinner. But there is one problem. In a restaurant, you've to wait at least 30 minutes to get yourself a biryani. I thought if I started a QSR for Biriyani it'd become an instant hit. But I calculated it'd take at least 35K $ to start it. Exactly one year after I got that idea, someone started a QSR for biryani. It became an instant hit. Now they have 30 outlets and raking in millions of dollars in revenue. It's very painful to see someone take your idea and make millions with it. If I had the capital I'd have launched it before them.
I was hopeless about raising capital. Then I came across Gary Halbert letters and he said if you've no capital and you want to make million dollars, info biz is the way to go. I thought if I made a million-dollar with info biz then I can use that money to fund my other cash-intensive ideas. You can read the rest of the story in my intro. Maybe I lost my Problem-Solving / Value creating mentality after reading Gary Halbert.
But if I worked for 2 years the opportunity will be lost. Already there are many Biryani Startups mushrooming in India.Hm..I see. You are confused by guru advice.
I would just recommend you to observe and listen to what the current market players are saying and doing. It would be more useful to read someone who wrote years ago about “this is the holy grail to achieve xxxx.”
The reality about business today is that money is not a big impediment to stop you from business success. If you have not just a good idea but demonstrated that you have the skill and ability to run it, it is not that difficult to find investors’ money to invest in your venture.
If you are serious about QSR go work in a QSR for two years. This is not a new industry like internet in the 90s where no one expect you to have prior experience because your competitor does not have it too! You need to pick up the skill of branding, location choice( big thing) and many other industry specific skills. Then you will be more credible in raising money.
I think you need to read less guru books but more about what is going on right now in business and industry/business common sense. Then you have a realistic expectation on what you can achieve and what you should do first.
There is never short of business opportunities. You will have new ideas later.But if I worked for 2 years the opportunity will be lost. Already there are many Biryani Startups mushrooming in India.
India Business News: Chennai: A plate of yummy biryani is not tantalising tastebuds of food connoisseurs, but is also catching the eye of investors.timesofindia.indiatimes.com
Thanks a lot. I never thought of this way. Now I understand I'm competing with every restaurant out there.There is never short of business opportunities. You will have new ideas later.
This is not a winner take all business. There is nothing stopping you to start nasi biryani qsr to compete with them. Any other quick food service is a competition in this brutal space. That is whats going on in the customer’s mind. “Well the biryani yesterday was not that, cheap, let me try the new murtabak shop next door today.”
Unless you can get yourself a brand like Macdonald there is no loyalty and negligible first mover advantage.
You cannot say that taste do not matter. I am not a play in the F and B but as an experienced customer, I do have much to say. In Singapore everyone eats out. No one cooks. Eventually profitable quick service food all have a similar value proposition- Above average taste at average price. During lunch and dinner time you see long queues of people to buy them even though the owner have hired a lot of staffs to prepare the food as quickly as possible.
Why not work for them?Thanks a lot. I never thought of this way. Now I understand I'm competing with every restaurant out there.
I didn't say taste doesn't matter. I don't believe it's not a great differentiator. There many local restaurants in India which serves very tasty biryani and they've cult-like followings. Many people travel from other cities to eat at them. Most of them are family-run and are all lifestyle businesses. They have no plan of expanding. I believe I can easily license their recipes and with my QSR concept, I can easily succeed.
Thanks, man! I lost track for sometimes. Now I'm working on my profile and portofolios.I've also sent some proposals. I'll update after I start making money.You're already getting distracted again by the whole biryani drama.!
When do we get to hear about your upwork dollars?
Thanks bro. But I've decided to focus on freelancing for now.Why not work for them?
You need to work for them to test your hypothesis. Basically you are not launching a new product. You are selling the same product but increasing its turn over rate in a restaurant- serving more customers at one table during a specific time frame. This is a question on operational feasibility. You do not know the constraints until getting involved in it at a deep level.
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