21 Years Old And Trying Figure Out The Right Road For The Fastlane.

[MM10]

Hey guys my name is Malik and I am from Detroit , Michigan. I have recently finished reading MJ's book but I am still a little confused and I hope to learn a lot from this forum. The main problem that I am having is not knowing which market to pursue. It gives me headaches sometimes thinking about the endless possibilities there are. If anyone could help , thanks !

 

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[Envision]

Pursue needs not markets

 

[Amon]

Pursue needs not markets

Trippy man.


Okay what I think he meant was, focus on solving problems. There's a million ways to make a million dollars. If you switch on producer mindset and you listen for pain points in your daily life, the opportunity for fastlane will present itself. Or at least I think that's what Envison meant. I'm still learning myself.

 

[Envision]

Trippy man.


Okay what I think he meant was, focus on solving problems. There's a million ways to make a million dollars. If you switch on producer mindset and you listen for pain points in your daily life, the opportunity for fastlane will present itself. Or at least I think that's what Envison meant. I'm still learning myself.

Yeah - the tendency for people to pursue hot markets because its "cool" and you heard a guy made a milli in 12 months doing this supplement or this real estate thing is what causes people to chase dead ends and never make progress. When you realize that people are sick of paying X amount for X product that is missing X widget and there are 5 other products in that niche with similar issues you are able to put yourself in front of those needs with a superior product and grow a business

 

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[DesignerOne.]

The market doesn't care if you're chasing it. Give value to the market and the money will flow.

It's not about chasing the right market, search for needs, and then try to figure out if you can provide a solution. If it doesn't work, try something else, keep adjusting. It's what I'm doing right now.

And welcome to the forum!

 

[G-Man]

@Envision is spot on. We sell a product in a boring category in a boring supermarket aisle. Our competitors are 100 yr old brands. We brought something slightly different to the product and packaging, and bam, consumers are getting something they wanted but nobody was providing.

Will it make you the most interesting guy at parties, or an internet superhero? No. It does have the potential to make a lot of money. Plus, the fact that it's not web based, not glamorous, a shitload of work, and the competitors seem big keeps all the idiots out. Barriers. To. Entry.

 

[Argue]

First, I suggest reading Chapter 19: Divorce Wealth From Time and study: "The Five Fastlane Business Seedlings"

1. Rental Systems
2. Computer/Software Systems
3. Content Systems
4. Distribution Systems
5. Human Resource Systems

Secondly, discover for yourself which of the 5 you want to pursue. Pick one.

Lastly, Use the WAMD method (Weighted Average Decision Matrix) to make your choice.

P.S. Remember to focus on needs. This is important.

 

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[spraybottle]

I think the awesome thing about being an entrepreneur is the fact that you can go about it so many ways. Just remember not to get into "shiny object" syndrome which can happen when you start following progress and GOLD threads here on the forum. Focus on one thing and don't give up the moment you hit a road block. Keep going and you'll eventually have success.