6 Months Free.

[codonnell]

Hi All,

I have 6 months free, fully funded.

I can dedicate all of this time to an entreprenurial endeavour.

I welcome any thoughts / ideas on a business idea I could explore and seek to execute during this period.

Good business to you Fastlaners,
Sincerely, Christopher.

 

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[broswoodwork]

Hi All,

I have 6 months free, fully funded.

I can dedicate all of this time to an entreprenurial endeavour.

I welcome any thoughts / ideas on a business idea I could explore and seek to execute during this period.

Good business to you Fastlaners,
Sincerely, Christopher.

Hi Christopher,

Who can you help with the skills you already have now or could learn on the fly?

 

[Galacticum]

Ar you planning to only work on this project during the next 6 months? This would be a criteria which would eliminate some ventures, as not everything is a quick buck.

Do you have some preferences? Online/Offline? Niches/Interests?

 

[MichaelCash]

I would recommend to try a bunch of ideas that don't require a lot of efforts. A kind of small bets approach. For example, sell something on ebay. Or publish a gig on fiverr. Then if you see something generates interests, double down on it and try to scale it to turn it into a real business.

 

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[MichaelCash]

Another idea that I've heard recently from one of Shark Tanks - find something that people really need. It sounds obvious, but there is a lot of meaning in these words

 

[codonnell]

Ar you planning to only work on this project during the next 6 months? This would be a criteria which would eliminate some ventures, as not everything is a quick buck.

Do you have some preferences? Online/Offline? Niches/Interests?

Online. Will be living in Russia for the 6 months.

 

[MichaelCash]

Online. Will be living in Russia for the 6 months.

I can share a few ideas. Import/Export or outsourcing as everything is very cheap in Russia as they rely on local currency. Some services, e.g. graphic design is very cheap too. There are a lot of software companies in Eastern Europe that are desperate to find clients in US/Europe. If you can partner with them and help with sales.

 

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[Entre Eyes]

Try to take whatever idea you have to the next level.

Want to affiliate market?

Learn all about high ticket and recurring.

Want to email market?

learn copy writing as well as product creation.

2020 is upon us you can position yourself now for Jan. You do not need 6 months.

You could be rolling in 6 months if you really start grinding and delivering high quality products/services on a quality brand.

 

[MitchM]

I don’t agree with MichaelCash on making a bunch of small bets.

I understand where he is coming from, but that’s not how you’re going to learn or grow as an entrepreneur.

The idea of failing fast requires that you go all in and do your best to make something work before moving on.

Trying a bunch of little things implies that you are going to strike gold on some low effort random thing - and then you’ll have found your path to riches.

It doesn’t work that way. You need to dig deep to strike gold, and to do that you need to stay focused and committed to one thing. If it doesn’t work out, THEN you move on.

Not working out usually means something like people don’t want your product/service in its current form. So that’s just an opportunity to adapt and pivot.

Pick anything you want. An agency, a product based brand, a service, etc. : you’ll find that there are many opportunities, so just pick one that you’re inclined towards, fill a need, have a USP, and stick to it.

 

[srodrigo]

I don’t agree with MichaelCash on making a bunch of small bets.

I understand where he is coming from, but that’s not how you’re going to learn or grow as an entrepreneur.

The idea of failing fast requires that you go all in and do your best to make something work before moving on.

Trying a bunch of little things implies that you are going to strike gold on some low effort random thing - and then you’ll have found your path to riches.

It doesn’t work that way. You need to dig deep to strike gold, and to do that you need to stay focused and committed to one thing. If it doesn’t work out, THEN you move on.

Not working out usually means something like people don’t want your product/service in its current form. So that’s just an opportunity to adapt and pivot.

Pick anything you want. An agency, a product based brand, a service, etc. : you’ll find that there are many opportunities, so just pick one that you’re inclined towards, fill a need, have a USP, and stick to it.

I fully agree with this. @codonnell trying a bunch of things is something you should have done before you had those 6 months to work on some business. If you do it now, you'll waste your time and burn out due to the lack of progress and purpose. I've been there before. Pick one thing you think you've got the skills for, and get started.

 

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[MichaelCash]

I don’t agree with MichaelCash on making a bunch of small bets.

There are different approaches. First is to find what brings money right away. The second is to work on something for 10 years and wait till one day it will make you reach.

There was a famous businessman who started his first business (cleaning company) when he was in college and in 6 months he had a cash flow of thousands of dollars. Then he realized he was on something. Then he scaled it and moved to other businesses after he gained experience and acquired capital.

I like this approach because it is less risky compared to working on something for 10 years.

 

[MitchM]

There are different approaches. First is to find what brings money right away. The second is to work on something for 10 years and wait till one day it will make you reach.

There was a famous businessman who started his first business (cleaning company) when he was in college and in 6 months he had a cash flow of thousands of dollars. Then he realized he was on something. Then he scaled it and moved to other businesses after he gained experience and acquired capital.

I like this approach because it is less risky compared to working on something for 10 years.

The two different approaches that you list isn't true.

It's not "right away or 10 years."

In my case, it was 6 months focused on starting one business before I started making money.

My point was that no matter what you are doing, you need to try hard at each things and not be making half-hearted efforts hoping that something sticks.

You should never be working on something for 10 years before you make money on it.

If your business is failing at the point that you expected to be generating revenue/profits, then you either need to make a pivot or consider it a learning experience and move on.

If you're trying to start dropshipping, for example, and you start selling a few products and it doesn't work out - then that is a learning lesson. It doesn't mean it won't work.

Try again based off of the feedback or lack therof. Then, if you've been working at it for a long a$$ time and you can't make it work - that'd be a good time to transition to something else.

People don't stay consistent and stick to what they are doing for long enough, and that is why so many people fail.

It's not that you stick to something that isn't working, it's that you stick to something that makes CENTS and has a USP - making adjustments along the way - until you truly see it isn't going to work out.