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"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.
I would make the argument that moving out (anywhere, not just Thailand) is a great investment in and of itself. If it makes you more happy/productive/motivated, then the investment will pay off.Love this quote. I wonder why the luxurious ideal of a tropical Thailand is so tempting over the stigmatized parent’s basement to cut expenses...
Yeah exactly and no doubt my parents would be harassing me to get a job so I don't think it would be a great environmentI would make the argument that moving out (anywhere, not just Thailand) is a great investment in and of itself. If it makes you more happy/productive/motivated, then the investment will pay off.
There's also the problem of people getting too comfortable. If you're on your own in Thailand, you know that you need to bust your a$$ to pay the bills or you're on the streets and all of a sudden you're a ladyboy offering "entertainment services". At home, you can just chill pretty much indefinitely because mommy + daddy got you covered.
Didn't MJ turn his whole life around the second he moved out of Chicago and to AZ? sometimes that's all someone needs.
Care to elaborate on this? What doors did you have to build from scratch that the university would had opened for you? And how do you know that if you never went to college?In terms of university, that's a personal choice - but as someone who didn't go, I will tell you now that you'll make it 100x harder for yourself in the real world. University opens doors that you would otherwise have to build from scratch. I've found that out the hard way. If you don't believe me, here's a clip of Felix Dennis iterating the same:
If you your business can easily be brought to $1000 a month, then you can just do that in your current situation with no drastic changes needed in your environment.From what you wrote you already have a product that sells. Imagine working in marketing the product 12 hours a day 7 days a week because you have so much free time. I bet you will increase your sells from $100 to $1000 a month in no time.
Of course there's more. Somewhere, at unknown distance away. I'm all for taking risks and sacrificing things to succeed with entrepreneurial endeavors, but quitting school to pursue something that made you 100$? Okay, that might cover minimum food supply in Thailand. But. Is it reccurring 100$? Do you have more prospects that are very likely to join?Wait I was going to ask, how is that bullshit? If there's one there's more! What would you consider a validated idea?
I get what you're saying, it is less risky to do it on the side while finishing uni. My reasoning was if I moved to Chiang Mai or somewhere similar it would be easier to grow it quickly because I can learn from others doing similar things and cover my expenses fairly easily. And I'm not talking about a permanent move, just around 6 months would be good. 6 months of focussing on the business full time and meeting like minded people.Of course there's more. Somewhere, at unknown distance away. I'm all for taking risks and sacrificing things to succeed with entrepreneurial endeavors, but quitting school to pursue something that made you 100$? Okay, that might cover minimum food supply in Thailand. But. Is it reccurring 100$? Do you have more prospects that are very likely to join?
Don't get me wrong. I want you to be happy and succeed, but if:
"Honestly I don't know much about marketing so I'm trying to learn. " And the already mentioned revenue.
How does it make sense to move to the other side of the world to go "full-time"?
Of course, I might be not as much of a risk taker as others here on the forum, but I would much rather put the minimum effort to finish the studies and use every minute of my free time to build the business.
Once it makes you more than enough to live in Thailand - go for it!
P.S. And I will add to what others said: Go there for a few week trip!
There is a major difference between 9k free users and 9k paying usersThis is what i was thinking. You sound like you know what you are doing. 9k users with no marketing ? That's productrocracy. Well done.
If you move:
You will pay less rent,
enjoy more the place you live,
have more time for your business,
and be surrounded by a better, entrepreneur enviroment ...
Just do it.
But there's no reason to have a plan B as it distracts from plan AWhile we all here aspire to develop our own businesses, it's always good to have a Plan B.
Is this just if you want to setup a business in Thailand? What if I set it up in the UK and operate in Thailand for 6 months? That's what I'd like to do..While there are a lot of business opportunities, you must know that it's a hard place to make business ,especially if you're a foreigner and obviously not talking Thai language.
I'm not much of a party person anyway so I don't see this being a big issue. I'm pretty disciplined as that's how I've got my product to where it is (get up at 5AM nearly every day to work on it). But who knows, I guess this big a change in environment could destroy the routine I have going..Also, I must admit that you need have a high degree of discipline in Thailand as there are a lot of temptations that potentially can keep you away from work (parties, girls and so on).
You love programming? Why not just learn it on your own? I mean that's what I did. I don't know if most employers look for a degree if you're moving into that field.. I think they just want to know you're capable. But ask around first, I run a business.I love programming but hate lectures and theory
Sorry! I was under the impression that you had no real buisness set up and wanted to go to a a third world country out of blue for the foreseeable future.lol why so negative? I don't see anything wrong with following successful people on YouTube and taking action on some of their advice..
To be clear, I'm not talking about moving to Thailand permanently. Just for a period of about 6 months will do, so I can focus on getting the business off the ground and surround myself with people who are doing similar things.
Not so, I haven't done that badly - still passed second year. Averaged just over 80% in my first year, this year I averaged 52%. And even after first year I wanted to quit, but being with friends in a joint tenancy agreement made me continue (ugh).
You know how time is your most valuable asset? That's what makes me think I shouldn't waste my time with something that isn't going to serve me. But there are pros and cons I guess.
This would definitely be a safer method. I've been doing this already the past two years at uni, I just really want to go full time and not have to worry about pointless exams and stuff :\
You don't need a degree to do what you do, whilst in many other areas you do.I dropped out of school with one quarter left before my degree.
I started a business without any idea of what to do.
I climbed a mountain without a guide or any experience in climbing.
I'm going to India for two weeks to drive a rickshaw 3500km in January.
The very things I am 100% the most proud of are all things people told me not to do because it was "reckless".
I can tell you something from those experiences:
Dive headfirst into life. Don't let the masses of scared pussies tell you how to live and project their own sad fear onto you.
After you do it, they'll all forget about what they said and you'll be admired and most importantly, you'll admire yourself.
Pick the options that seem like the brave choice and you will be proud of who you are. Pick options that seem like the cowards way out and you'll live like a normal person.
Name, reputation, experience, network - old school tie.Care to elaborate on this? What doors did you have to build from scratch that the university would had opened for you? And how do you know that if you never went to college?
I've been hearing this a lot lately. People claiming that it's not about the degree or knowledge but the connections you make in college that make it worth it. It's like that's their new marketing campaign after the "college students earn more in their lifetime" campaign failed.
I even heard this from Mark Cuban telling kids to stay in college even though he dropped out. What he doesn't mention is that those "connections" come with a price tag. Usually around the six figure mark. You'll pay for those connections now and in the future through your loans.
Secondly, wouldn't someone who starts a business and gets out there naturally come across this "connections?" Surely he would meet other business owners and network.
I couldn't agree more with Johnny boy. While I enjoyed college and could have "done more" with my degree, I now wish I would've skipped college at 18, and instead read everything by MJ DeMarco, Russell Brunson, and a few more, and moved to Thailand, even if only temporarily.I can’t believe the answers here. When did you get your nuts cut off?
“Stay in school!”
“Don’t take the risk!”
Don’t listen to them. Say yes. Screw school. Take a chance and make it happen. You’ll ask “what if I took the risk” when you’re older and you’ll hate yourself for being a wimp.
Just do it.
I might see you there! This winter I'll be traveling aroundI couldn't agree more with Johnny boy. While I enjoyed college and could have "done more" with my degree, I now wish I would've skipped college at 18, and instead read everything by MJ DeMarco, Russell Brunson, and a few more, and moved to Thailand, even if only temporarily.
Assuming your business or teaching English online or something can sustain you out there, the worst that can happen is you spend too much and have to head home and work a normal job for a while to regroup. You're young and have plenty of time to recover from any mistakes you make, so this isn't even that big of a deal.
On the other hand, the benefits of going, especially at such a young age, are many. For one, you'll be exposed to entrepreneurs and an entrepreneurial community, which is hard to do in just about anyone's hometown. Second, you'll be able to make entrepreneurial friends and attend workshops, conferences, masterminds, and more where you can learn and be exposed to new business ideas you hadn't considered.
There are many more reasons to go but that should be enough for now.
Even if 75% of the people there don't have businesses yet, you'll at least be surrounded by people who are trying, reading, experimenting, learning, and hungry for success. There's a reason those people are there, because Thailand is a great incubator for budding online entrepreneurs.
You're young. Take a (calculated) chance. Learn marketing and sales, and surround yourself with people on a similar mission however you can.
As a side note, I'll be heading to Thailand in September for 5 months for all the reasons I stated above. See you out there maybe.
Totally agree. But he isn't traveling though. He is staying in the one spot in thailand.Why Thailand specifically? I'm sure there are plenty of inexpensive spots in Europe.
Edit: Digital nomadism is overrated. Whenever I travel, I never get any work done. I'd rather settle in an inexpensive spot and take some vacations like normal people, but do whatever suits you. Don't fall for the hype unless it really behooves your capabilities.
Wtf why would he want a J.O.B. in Thailand? He should finish his degree so he has a better chance at getting a job in thailand? I think you misunderstood his post.I love Thailand. However, I find it smarter to build my skills first.
I agree with sticking with the education and foregoing your wanderlust (something I had done up until about 6m ago, now been to Thailand 2x, Japan, & Hongkong). The trips were worth every penny because it makes you more interesting and increases your value. If even that value is making you a better conversationalist with a unique experience.
This said, why do I think you should stick with the education? Farang (foreign white) men in general get paid far above Thai locals; if you have some business degree and skills to help a hotel out. However, travel to Thailand (particularly with recent political issues) has its up's and down's, and can impact available jobs/job security.
What I have personally done to allow myself (hopefully) to travel and live in Thailand (or probably Singapore because exchange rate is better & greater opportunities):
1. Got my Accounting Degree
2. Worked over 5yr in Accounting (Staff Accountant, now Senior Accountant, & Controller position is within reach)
3. Got my CPA
4. Halfway through my MBA
5. Networked/Networking like crazy (still should be doing more)
6. Made myself super busy learning/studying new skills to save money & invest in myself (so far 20K saved, but I also have 2 rental properties & paid for grad school fully in cash)
I'm far from 'successful', always room for improvement, but what I'm saying is ... it's a hell of a lot easier if you establish yourself in USA/Europe/CAN/AU/etc. before moving.
My plan is to hopefully be an interim Controller/CFO for US based organizations with plants located abroad for 3-6m periods. Or even be interim Controller in the US, make money 9m a year, learn a new skill/travel in low cost areas across Asia the next 3m.
Just.. set yourself up for success first! I'm ~28yr old, and still being patient for another year (MBA completed then), until I'm ready to take the leap. Perhaps knowing this is what you want, you can shave off a year or two by working hard and building your resume with this as an end goal.
Thanks for taking the time! Really appreciate your feedback here.I've actually taken the time now to have a little bit of a closer look at your app.
Oh no! Do you understand the principal behind the app? It's basically a board game + questions which are the quiz part, so gamified quizzes. You upload a background, place the spaces where you want the players to move (click the green "Add a Space" button then drag it around), then add the questions. You launch the game on a shared device which everyone can see (like a Smart board in a classroom) and players (the students) join on their own devices. Students will see the questions on their device and their avatar will be shown on the game board. Answer the question right, your avatar moves forwards and answer wrong and it moves backwards - the movement is configurable when you design the game - click on the "Player movement" button.The design is very nice. But it is very counter-intuitive to use. I was trying to create a quiz/survey and had no idea how to complete it.
Hmm yeah I guess I called it that because there are two aspects: the quiz/questions and the game board. So I called them games as they're like gamified quizzes. I'll ask around and see what people think about renaming.Also, it is very misleading that the quizzes are called "games".
I'm just targeting teachers, I know this isn't very specific. Not sure how to niche it down as I have a wide variety of teachers currently using it.are you clear on who your target customer is?
I'm going with the freemium business model. Teachers can use the software for free but with restrictions. If they think the paid features look good or they need to support larger classes, then they would pay (at least that's the idea) to upgrade. In version 2 there is also "Quiznetic for Schools" which gives a discounted price for 5+ teachers as well as larger capacity games (50 players), possibly more features coming in the future.are you clear on your business model? For example: why would somebody pay to upgrade to the pay feature?
I'm not aware of any software that does exactly what mine does (the whole design a game board to go along with the questions thing). Teachers like to have a variety of tools under their belt to engage students, so I see mine as another one of those tools.are you clear on your positioning? How is this any different from any other quiz software (as there are a lot of other options out there).
I've only just thought about running Facebook ads and things like that. Also I could try reaching out to schools to see if they're interested in it.are you clear on how you want to get this to the point where it covers your expenses? As in, do you have any idea how to acquire more paying users?
lol you're right about that, I love coding I can't help it! As I release v2 and it becomes stable I'll start setting more and more time on the business side.My guess is that you spend lots of time coding and hardly any time working on the business side of things (i.e. creating revenue).
Will do, thanks so much for all the feedback and questions!Spend a few hours a week figuring out how to actually make money from this business without changing anything about your current living situation.
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