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Anatomy of A Failed Fastlane (What You Can Learn From My Mistakes)

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InspireHD

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I don't know if this is the same situation, but reading your posts brought me back to a time in 2012. I was out looking for a new job and after many, many resumes getting overlooked, I was exhausted and discouraged. I felt like I was worthless. My whole self-worth was put on someone reading a piece of paper and telling me whether I was "good enough" to be interviewed. I have no idea if anyone was even looking at my applications, but I started to imagine that they were going right into the trash.

Then, one day, I think it was Monster, I applied for an Actuary position. Within a day I received a reply that the guy wanted to interview me. My big break! He must see something in me that is perfect for this industry! The only drawback was that it was an 11 hour drive. I figured I had nothing to lose and I was open to the idea of moving for a job. I packed up and went on my way. The next day I met with the guy. He was super friendly, talked to me about what he did rather than what I brought to being an Actuary. Everything went so smooth that I thought I just found my new dream job.

$300 and you get study materials and access to an online classroom where an instructor had videos uploaded and walked you through sample problems. The reward? If you pass the first Actuary exam, he guaranteed you at least 2 interviews in either Louisville, Houston, Nashville, or Atlanta. If you failed, you were given one more chance to pass and the offer was still open. He was only opening this up to 30 students and, of course, there were *only* 3 spots left!

It was the best opportunity I had. I was tired of looking and the Actuary thing sounded pretty cool. If I wanted it, he was giving me a spot.

I spent the entire summer studying. 220+ hours. I was one of the more active people in the classroom forum, often chatting with others and helping them with their math problems. The problem was that with about 13 or so chapters in the book, by the time I got to chapter 10 or so, where it was the most difficult material, my brain was screaming for a break. I wasn't grasping the most important and most difficult problems.

By the end of the summer, I took the exam. Most of the problems were related to those last few chapters that I was having a hard time on. I don't know how it was graded, but I got a 1. I think I needed a 5 or 6 to pass.

That was the end of that. I didn't even care anymore. I was burned out. It felt like a big waste of time because my entire summer was spent studying.

I have no idea if he's still in business, but it was a huge lesson learned.
 
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Contrarian

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I don't know if this is the same situation, but reading your posts brought me back to a time in 2012. I was out looking for a new job and after many, many resumes getting overlooked, I was exhausted and discouraged. I felt like I was worthless. My whole self-worth was put on someone reading a piece of paper and telling me whether I was "good enough" to be interviewed. I have no idea if anyone was even looking at my applications, but I started to imagine that they were going right into the trash.

Then, one day, I think it was Monster, I applied for an Actuary position. Within a day I received a reply that the guy wanted to interview me. My big break! He must see something in me that is perfect for this industry! The only drawback was that it was an 11 hour drive. I figured I had nothing to lose and I was open to the idea of moving for a job. I packed up and went on my way. The next day I met with the guy. He was super friendly, talked to me about what he did rather than what I brought to being an Actuary. Everything went so smooth that I thought I just found my new dream job.

$300 and you get study materials and access to an online classroom where an instructor had videos uploaded and walked you through sample problems. The reward? If you pass the first Actuary exam, he guaranteed you at least 2 interviews in either Louisville, Houston, Nashville, or Atlanta. If you failed, you were given one more chance to pass and the offer was still open. He was only opening this up to 30 students and, of course, there were *only* 3 spots left!

It was the best opportunity I had. I was tired of looking and the Actuary thing sounded pretty cool. If I wanted it, he was giving me a spot.

I spent the entire summer studying. 220+ hours. I was one of the more active people in the classroom forum, often chatting with others and helping them with their math problems. The problem was that with about 13 or so chapters in the book, by the time I got to chapter 10 or so, where it was the most difficult material, my brain was screaming for a break. I wasn't grasping the most important and most difficult problems.

By the end of the summer, I took the exam. Most of the problems were related to those last few chapters that I was having a hard time on. I don't know how it was graded, but I got a 1. I think I needed a 5 or 6 to pass.

That was the end of that. I didn't even care anymore. I was burned out. It felt like a big waste of time because my entire summer was spent studying.

I have no idea if he's still in business, but it was a huge lesson learned.

At least you didn't pass, become an Actuary, then a Super Actuary, then a Chief Actuary, then Senior Executive Super Vice President of All The Actuaries - then wake up one day ten years later and realise you hate your life.
 

B V Marlon

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That was a great read, thanks for taking the time out to craft your very well written posts. I love it when people post about the things that didn't go so well - you can definitely learn from others mistakes as well as your own.

I'm not sure I entirely agree with your stance on partnerships, if done properly I think they can be extremely beneficial, especially if you have complementary skills. I'd rather have 50% of something that flew, than 100% of something that didn't.
 

Contrarian

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That was a great read, thanks for taking the time out to craft your very well written posts. I love it when people post about the things that didn't go so well - you can definitely learn from others mistakes as well as your own.

You're welcome. In my case, sometimes you know you're about to make the mistakes you've already read about, but you're stubborn and have to see for yourself anyway. :)

B V Marlon said:
I'm not sure I entirely agree with your stance on partnerships, if done properly I think they can be extremely beneficial, especially if you have complementary skills. I'd rather have 50% of something that flew, than 100% of something that didn't.

Ah, I don't disagree that they can be beneficial. I've just realised that they aren't right for me (and this arrangement especially). I need to have everything my own way - as soon as you enter a partnership you don't have that freedom anymore. Especially when you're not the partner that's bringing the cash.

YMMV. :smile2:
 
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If it were just me running things, I might have done so!



Interesting points.

Someone could have turned this into a Fastlane business. I've no doubt about that.


Process --- From TMF , I know MJ speaks heavily about the Process, the painstaking journey where we bump our heads and learn as we go along, and though you may club your head over and over for not having made money from it, the GREAT thing about it is that, in walking the journey, you are seeing the opportunities to not only make money from the value you're adding to others' lives, BUT, you're also seeing the opportunity for a Fastlane Venture in it.

In Unscripted - Action, Assess, Adjust, from the tune of your story, I'm seeing a great example of acting and assessing, and I'm even happy to read that you've done AND continue to do just that. Great Example. Thanks for the story and the Very Valuable Lesson.
 
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DeterminedJ

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Wow, this is an epic post, @Contrarian! Aside from the fact that your writing style is incredibly engaging, I really appreciate all of the mistakes and reflections that you've laid out for everyone to read. Your drive and work ethic are clearly top notch, which will mean amazing things once you've settled on a fastlane venture.

While reading about your journey, I felt beyond grateful and humbled to have found the Fastlane Forum. The wealth of knowledge and info-sharing brought together in this place is crazy. I don't know of another forum that rivals it. @MJ DeMarco, I know it's going to sound really cheesy, but I hope you know what a unique and valuable community you've created. As someone just getting started in my fastlane journey, I couldn't be more thankful - thank you!
 

Contrarian

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Process --- From TMF , I know MJ speaks heavily about the Process, the painstaking journey where we bump our heads and learn as we go along, and though you may club your head over and over for not having made money from it, the GREAT thing about it is that, in walking the journey, you are seeing the opportunities to not only make money from the value you're adding to others' lives, BUT, you're also seeing the opportunity for a Fastlane Venture in it.

In Unscripted - Action, Assess, Adjust, from the tune of your story, I'm seeing a great example of acting and assessing, and I'm even happy to read that you've done AND continue to do just that. Great Example. Thanks for the story and the Very Valuable Lesson.

You're welcome.

Sometimes when you're in the midst of the struggle, it's hard to appreciate the progress you've made - and are making - in life.

I haven't posted on the forum for a few weeks because I've been so busy and - at times - stressed with everything I've had going on.

I have a few days off now. Yesterday it really hit me:

Now, after my move that's been in planning for years, I "live where people go on vacation" (to quote @Vigilante).

I don't have to go to an office. Now I have my own indoor office and an outdoor office on the roof terrace. Sometimes maybe the cafe down the road will be my third office (we'll see about that).

I live in a luxury apartment that would cost close to five figures a month in London or NYC but which is easily affordable here for me.

I don't have to report in to anyone.

I work long hours, but I work my hours. If I want to take the morning off, I can.

I only have to pay income taxes on money that I need to bring into the country for day to day living, that was earned in the same financial year. Once I'm able to live off the previous year's savings, I'll never have to pay income taxes again. And there are no property, wealth or capital gains taxes.

There are four seasons here: summer, super-summer, summer 2, and spring.

I earn somewhere around $70-80,000/year right now...which in the grand scheme of things, is nothing. And yet - even if my financial situation never improved, I never became a successful entrepreneur, and just kept spinning my wheels forever...I'm already living the dream. I'd take what I have right now over a $500,000 corporate job in London or NYC without a second thought. Always and forever.

None of this is by accident. I made it happen this way. Yet I beat myself up for not having "made it" yet. How many of us are not giving ourselves credit where it's due?

This week I've also realised that retiring young won't be all its cracked up to be anyway. I've had a few days off - in a new country - and I'm already restless. When I am UNSCRIPTED , I'll no doubt keep right on working anyway. So what's the rush?

Wow, this is an epic post, @Contrarian! Aside from the fact that your writing style is incredibly engaging, I really appreciate all of the mistakes and reflections that you've laid out for everyone to read. Your drive and work ethic are clearly top notch, which will mean amazing things once you've settled on a fastlane venture.

While reading about your journey, I felt beyond grateful and humbled to have found the Fastlane Forum. The wealth of knowledge and info-sharing brought together in this place is crazy. I don't know of another forum that rivals it. @MJ DeMarco, I know it's going to sound really cheesy, but I hope you know what a unique and valuable community you've created. As someone just getting started in my fastlane journey, I couldn't be more thankful - thank you!

Thank you sir.

I too am grateful to have found myself here. Without the forum, I'm confident none of this would have happened. There would be no business, no failure story, no self-employment and no offshore living. I'd still be chained to a desk in someone else's office back in gloomy England, wondering "what else is there?".
 

Andy Black

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BrooklynHustle

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You're welcome.

Sometimes when you're in the midst of the struggle, it's hard to appreciate the progress you've made - and are making - in life.

I haven't posted on the forum for a few weeks because I've been so busy and - at times - stressed with everything I've had going on.

I have a few days off now. Yesterday it really hit me:

Now, after my move that's been in planning for years, I "live where people go on vacation" (to quote @Vigilante).

I don't have to go to an office. Now I have my own indoor office and an outdoor office on the roof terrace. Sometimes maybe the cafe down the road will be my third office (we'll see about that).

I live in a luxury apartment that would cost close to five figures a month in London or NYC but which is easily affordable here for me.

I don't have to report in to anyone.

I work long hours, but I work my hours. If I want to take the morning off, I can.

I only have to pay income taxes on money that I need to bring into the country for day to day living, that was earned in the same financial year. Once I'm able to live off the previous year's savings, I'll never have to pay income taxes again. And there are no property, wealth or capital gains taxes.

There are four seasons here: summer, super-summer, summer 2, and spring.

I earn somewhere around $70-80,000/year right now...which in the grand scheme of things, is nothing. And yet - even if my financial situation never improved, I never became a successful entrepreneur, and just kept spinning my wheels forever...I'm already living the dream. I'd take what I have right now over a $500,000 corporate job in London or NYC without a second thought. Always and forever.

None of this is by accident. I made it happen this way. Yet I beat myself up for not having "made it" yet. How many of us are not giving ourselves credit where it's due?

This week I've also realised that retiring young won't be all its cracked up to be anyway. I've had a few days off - in a new country - and I'm already restless. When I am UNSCRIPTED , I'll no doubt keep right on working anyway. So what's the rush?



Thank you sir.

I too am grateful to have found myself here. Without the forum, I'm confident none of this would have happened. There would be no business, no failure story, no self-employment and no offshore living. I'd still be chained to a desk in someone else's office back in gloomy England, wondering "what else is there?".
Hats off to you, sir. Keep on making it happen & enjoying the journey as it unfolds...
 

Mr Platinum

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To the battle scars... (part one)

So here's what I've taken from this experience. In two parts because I have limited time today and I promised to update this every day - which I didn't do yesterday.

Do you really need a partner?

I entered into this arrangement in the first place because, frankly, I was playing to not lose. By going into it, suddenly I didn't have to worry about making ends meet, or about accounting and bureaucracy, or all the back office stuff. Or having to make all the decisions completely on my own.

Yet, even if it had been a 50/50 split from the beginning, all future returns would have been instantly cut in half. Considering the upper limit of sale price for this company once built out would be very unlikely to go much beyond £3m at the very most, instantly the exit goes from coming close to my "number" to buying a mini-retirement and funds for the next venture.

So this is a great deal in the beginning - before you're making enough money to sustain yourself. But as soon as you start seeing success, well...it's not so great anymore. Don't overvalue the short term.

In future I will own 100% and only 100% of my businesses. While I still need to, I'm happy to freelance for people, but my obligation will be limited to the work I'm contracted to do. Here I had the worst of both worlds - an all-consuming commitment with job-like returns. I had no ability to pivot, be agile, and take advantage of opportunities as they presented themselves. I had to stick to the business and the model we'd ventured into together. Not smart.

Is it just about the money?

For me, the whole point of this whole endeavour of entrepreneurship is freedom. Sure, having a Lambo might be cool. So would an epic three storey penthouse with the best view in Hong Kong. Would I be willing to sacrifice 10 years of my life doing something I dislike in order to obtain either? Hell no!

Would I spend 10 years of my life to get to the point where I can do whatever I want, whenever I want, wherever I want? Hell YES!

To me, wealth is about enjoying warm climates, freedom to travel, freedom to be left alone, and self-direction. I gave away all of these things to some extent to get involved in this business.

I chained myself to my desk through a business model that meant I had to spend hours making phonecalls at unsociable hours in perpetuity.

I didn't have and wouldn't get the freedom to be left alone, or to be self-directed in my actions - because I wasn't the controlling party.

If it's freedom that motivates you, think VERY carefully before involving yourself in ANY partnership. No matter how great the opportunity, or how much you like your partners or investors, you will frequently be confronted with this reminder: You are NOT free.

What is the purpose of marketing?

Is it to "spread the word"? Look cool? Stand out? Be innovative?

Situationally - maybe. But none of that crap matters in the beginning. The purpose of marketing is to create the opportunity for sales.

In the beginning, what you need is SALES. If it's not directly accelerating your ability to MAKE SALES, your marketing is a waste of time.

I even got known as "the webinar guy" - sometimes, people knew me and were on my email list but didn't even know what business we were in!

If I were starting again, I'd focus on making sales. The shortest possible route to getting paid. Then later I'd focus on marketing - and build it around the sales process, to support it and drive others to the beginning of the sales process.

I did it completely backwards - I built this elaborate marketing system that didn't even go in a straight line from A to Z, and only when we were backed into a corner did I go out and sell directly.

Don't make this mistake.

What is your value proposition, really?

Sometimes, trying to do everything better works against you. We were more thorough, produced better hiring outcomes - and also much faster.

But different types of customers care about different things.

It turns out most of our customers didn't care about the exacting search process, or the better hiring outcomes, or to adopt the processes we would give them in order to obtain them. Most everyone thinks they know how to hire well - it's the kind of thing where the flaws only show up a year later in retrospect, not at the time right now when they need to do something. Paying more now to maybe avoid pain later is a tough sell.

The customers that did care about these things, didn't care about the speed of execution.

Most people actually cared about the speed of delivery and that the quality was roughly in line with their expectations. But they didn't care for the rest of the package, and so didn't buy into our overall value proposition or the commitment it required.

We should have focused on one thing and delivered it exceptionally. We could have been the most thorough search firm delivering the best possible results, targeted a wider market, honed in on fewer clients and built them as key accounts - and we could have charged more money to those that valued these things.

Or we could have niched down further, built a database of every single person in the niche, and guaranteed shortlists for any role within 48 hours. But without requiring all these upfront commitments and time investments from both sides.

We tried to do both and straddle the middle ground - in the process we accomplished neither.

We worked in a disparate and global market, where job requirements are highly specific and geographically diverse. If - for example - we had set up in London and been a placement firm exclusively for Java developers in London - we would have made life much easier on ourselves. To some degree, as far as skillset goes - a Java developer is a Java developer is a Java developer. We could have used the marketing machine to recruit the best Java developers in town - and had a near limitless market for their services.

Instead, we did things the hard way.

What is your ONE core unique differentiator?

Part two to follow tomorrow. In the meantime - are you making any of these mistakes right now? Are you about to? What could you do differently in your business?


This is deep. I'm glad I came across your thread. In the end, everyone cannot be your client!

That's a suckerpunch to the gonads for me
 
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Ronr3914

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I yearned to be free. Not climbing someone else's ladder. Not to be powerful and respected. Just to live my own life, in my own way - independently. Without obligation to or from anyone. To make wise decisions, not hedonistic ones.

And I no longer believed in my work. I used to believe I was doing good in the world, by helping companies hire better people and helping great people get better jobs. I suppose that's true. But I didn't believe in jobs anymore. That was the way of the past. The world is moving away from jobs.

I started to notice that the candidates in their 20s were bright-eyed and full of enthusiasm, whereas those in their 50s were often resigned and defeated. They'd already lived the treadmill without end. The young ones were still awed by the gold plating adorning the doors of the slaughterhouse.


That was one of the most relatable things that I've ever read.
 

Contrarian

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Sometimes we just have to stop and appreciate where we've already got to.

Well done @Contrarian... you last post seems like a it's from a different man.

Thanks, @Andy Black. Your inspiration has been very valuable along the way. :)

And it's absolutely true. The constant quest for "more" can be destructive. Reminds me of Felix Dennis' book (have you read it?). Worked like a dog well into his late 50s because he couldn't bear to let anyone else overtake him, accumulated something like $750 million...most of which he never had any use for, other than bragging rights. Then died young, having spent his last years writing poetry and regretting not quitting 20 years earlier to live his life.

That always stuck with me.

I'm learning a lot from this already...

The part about building an audience that could never buy....that really got to me

This is deep. I'm glad I came across your thread. In the end, everyone cannot be your client!

That's a suckerpunch to the gonads for me

I take it you speak from experience. What happened?
 

Contrarian

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Off out for dinner and drinks now down at the marina, a mere half hour's walk away. Millions of people come here every year for their annual getaway from the grind. And it'll still be 26 Celsius in the middle of the night.

Still can't believe how fortunate I am to be able to live here.


zeri-s-restaurant.jpg
 
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Iammelissamoore

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You're welcome.

Sometimes when you're in the midst of the struggle, it's hard to appreciate the progress you've made - and are making - in life.

I haven't posted on the forum for a few weeks because I've been so busy and - at times - stressed with everything I've had going on.

I have a few days off now. Yesterday it really hit me:

Now, after my move that's been in planning for years, I "live where people go on vacation" (to quote @Vigilante).

I don't have to go to an office. Now I have my own indoor office and an outdoor office on the roof terrace. Sometimes maybe the cafe down the road will be my third office (we'll see about that).

I live in a luxury apartment that would cost close to five figures a month in London or NYC but which is easily affordable here for me.

I don't have to report in to anyone.

I work long hours, but I work my hours. If I want to take the morning off, I can.

I only have to pay income taxes on money that I need to bring into the country for day to day living, that was earned in the same financial year. Once I'm able to live off the previous year's savings, I'll never have to pay income taxes again. And there are no property, wealth or capital gains taxes.

There are four seasons here: summer, super-summer, summer 2, and spring.

I earn somewhere around $70-80,000/year right now...which in the grand scheme of things, is nothing. And yet - even if my financial situation never improved, I never became a successful entrepreneur, and just kept spinning my wheels forever...I'm already living the dream. I'd take what I have right now over a $500,000 corporate job in London or NYC without a second thought. Always and forever.

None of this is by accident. I made it happen this way. Yet I beat myself up for not having "made it" yet. How many of us are not giving ourselves credit where it's due?

This week I've also realised that retiring young won't be all its cracked up to be anyway. I've had a few days off - in a new country - and I'm already restless. When I am UNSCRIPTED , I'll no doubt keep right on working anyway. So what's the rush?



Thank you sir.

I too am grateful to have found myself here. Without the forum, I'm confident none of this would have happened. There would be no business, no failure story, no self-employment and no offshore living. I'd still be chained to a desk in someone else's office back in gloomy England, wondering "what else is there?".


I am just TOO grateful to read your hard-earned success. Your story is empowering, inspiring and mind-blowing, I KNOW this is Certainly proof in the pudding about hitting the piñata beyond explosion, you just added more fire to my journey also, I'm FOREVER and Genuinely happy for your success and allothers who are making it. Commitment breathes great results.

Love your story! Keep up the excellent work and KEEP excelling.
 

Mr Platinum

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Thanks, @Andy Black. Your inspiration has been very valuable along the way. :)

And it's absolutely true. The constant quest for "more" can be destructive. Reminds me of Felix Dennis' book (have you read it?). Worked like a dog well into his late 50s because he couldn't bear to let anyone else overtake him, accumulated something like $750 million...most of which he never had any use for, other than bragging rights. Then died young, having spent his last years writing poetry and regretting not quitting 20 years earlier to live his life.

That always stuck with me.



I take it you speak from experience. What happened?

Well, personally, I think I'm a nice guy who used to try to please everybody to maintain my "nice guy" persona. Right now, I don't give a rip about people's opinions about me...but I think I forgot to make the mental leap in the way I handle business. So when I market a product to my targeted audience, I still feel a twinge of hurt when some people tell me that they are not interested in my product...

One of the key takeaways from your story is this fact: Not everyone can be my client. If a person turns my product down, it doesn't mean that the person is turning me down...or that my product is a loser. It just means that the person isn't my client and I should move forward to the one who is
 

Supercar

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I hated when I spoke with candidates and wanted to send them to the Fastlane Forum rather than the temporary reprieve of a new job. These weren't my people. What I was doing was incongruent with my values.
WOW. I vividly imagined myself in your shoes for a moment. Having been put a position where your worked every day undermining your own values should have cancelled out all the guilt that you had felt when you decided to quit. But you weren't put in that position by Steve. You got there all by yourself. Hence -- the guilt. Bummer.

That inglorious bastard Steve should have shown more compassionate and fired you out of pity!

I am glad you got out and landed on your feet.
 

Contrarian

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WOW. I vividly imagined myself in your shoes for a moment. Having been put a position where your worked every day undermining your own values should have cancelled out all the guilt that you had felt when you decided to quit. But you weren't put in that position by Steve. You got there all by yourself. Hence -- the guilt. Bummer.

That inglorious bastard Steve should have shown more compassionate and fired you out of pity!

I am glad you got out and landed on your feet.

There's a lesson in here about Fastlane thinking, and not only in terms of how to run (or not run) a business.

I'm sure I mentioned this earlier in the thread, but at one point I used to LOVE my work. I loved everything about being a recruiter. I was on a mission, and even the 100 cold calls a day to bag one or two new clients a month as it was back in the recessionary times didn't deter me one bit.

I used to look forward to Mondays.

I had almost the perfect life, as I saw at the time. I went in to put in a great day of work, a good session at the gym, then had fun evenings and fantastic weekends. I was doing exactly what I wanted to do.

Until one day I wasn't.

Only, because I'd never saved any money, had high expenses and didn't own my income source, I was trapped.

Things are a bit different now. Back when I started this thread, I still had several thousand £ in credit card debt. Not all consumer debt, but debt nonetheless.

Now I'm completely debt-free. Plus, I have almost £10k in the savings account and nearly half that again in crypto holdings. In the grand scheme of things, it's absolutely nothing - but this is the first time in my life I've ever had savings. Any income above and beyond the necessary? Straight into the savings account.

Now I'm able to use half of those savings to fund my new business that's finally in the works (I'll throw up a progress thread soon). Without the prior mindset shift I wouldn't have the money available to fund the startup costs.

I could buy a car. I really want a car. And a motorbike to replace the one I sold back in the UK. But I'm not going to buy either because freedom is more important. When I have £50k in the bank, maybe I'll spend £3k on a car.

Now I can even afford for my girlfriend to quit her mental-health-destroying job to work on her own business and do waitressing part-time.

My income has increased somewhat, but it's a changed relationship with money that really made this possible.

The joke of it is, to be really successful as a headhunter or in any other kind of high-ticket sales profession takes every bit as much work as being a successful entrepreneur (assuming you don't want to build the next Google). Only, the rewards are minimal by comparison.
 

Supercar

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There's a lesson in here about Fastlane thinking, and not only in terms of how to run (or not run) a business.

I'm sure I mentioned this earlier in the thread, but at one point I used to LOVE my work. I loved everything about being a recruiter. I was on a mission, and even the 100 cold calls a day to bag one or two new clients a month as it was back in the recessionary times didn't deter me one bit.

I used to look forward to Mondays.

I had almost the perfect life, as I saw at the time. I went in to put in a great day of work, a good session at the gym, then had fun evenings and fantastic weekends. I was doing exactly what I wanted to do.

Until one day I wasn't.

Only, because I'd never saved any money, had high expenses and didn't own my income source, I was trapped.

Things are a bit different now. Back when I started this thread, I still had several thousand £ in credit card debt. Not all consumer debt, but debt nonetheless.

Now I'm completely debt-free. Plus, I have almost £10k in the savings account and nearly half that again in crypto holdings. In the grand scheme of things, it's absolutely nothing - but this is the first time in my life I've ever had savings. Any income above and beyond the necessary? Straight into the savings account.

Now I'm able to use half of those savings to fund my new business that's finally in the works (I'll throw up a progress thread soon). Without the prior mindset shift I wouldn't have the money available to fund the startup costs.

I could buy a car. I really want a car. And a motorbike to replace the one I sold back in the UK. But I'm not going to buy either because freedom is more important. When I have £50k in the bank, maybe I'll spend £3k on a car.

Now I can even afford for my girlfriend to quit her mental-health-destroying job to work on her own business and do waitressing part-time.

My income has increased somewhat, but it's a changed relationship with money that really made this possible.

The joke of it is, to be really successful as a headhunter or in any other kind of high-ticket sales profession takes every bit as much work as being a successful entrepreneur (assuming you don't want to build the next Google). Only, the rewards are minimal by comparison.
I was going to quote you selectively, but OMG, your writing is so good, so I quoted it all.

Stories like this make one really appreciate what he/she already has.

I have two-three book recommendations, if I may, since you like to read a lot.

First -- Ultimate Money Mindset - The 2X Method, written by @V8Bill, an inmate on this forum, available for download here. Wish everyone had read this book before big money came their way.

Second -- any fiction or non-fiction book by Ayn Rand. If you haven't ready any, then start with The Fountainhead. You have violated at least several of her commandments when you started working against your principles. Reading her writing makes one feel proud when doing any mundane task for as long as it is productive and fits your value system.

Good luck to you in your new ventures. I want you to succeed, and I will be cheering for you!
 
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Contrarian

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I was going to quote you selectively, but OMG, your writing is so good, so I quoted it all.

Stories like this make one really appreciate what he/she already has.

I have two-three book recommendations, if I may, since you like to read a lot.

First -- Ultimate Money Mindset - The 2X Method, written by @V8Bill, an inmate on this forum, available for download here. Wish everyone had read this book before big money came their way.

Second -- any fiction or non-fiction book by Ayn Rand. If you haven't ready any, then start with The Fountainhead. You have violated at least several of her commandments when you started working against your principles. Reading her writing makes one feel proud when doing any mundane task for as long as it is productive and fits your value system.

Good luck to you in your new ventures. I want you to succeed, and I will be cheering for you!

Thank you - and for the recommendations!

I like Ayn Rand, but I've never read any of her books. I considered picking up Atlas Shrugged once, but man, that is one dense tome. I have read many other libertarian works.
 
G

Guest06196

Guest
Thank you @Contrarian
I was mesmerized by your story. Totally captivating.
The lessons from this thread are unique and vital, especially the value giving part. Appreciate your courage to share it.
Also gained an incredible insight into the recruitment industry. I don't think I could've learned any of it from anywhere else.
Good luck & best wishes! I look forward to your progress thread.
 

NanoDrake

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Thank you - and for the recommendations!

I like Ayn Rand, but I've never read any of her books. I considered picking up Atlas Shrugged once, but man, that is one dense tome. I have read many other libertarian works.

WOW...

Just Wow...
I spent the last couple of hours reading this (and I do have to agree, your writing style is spot on) but I spent the last 10 minutes sitting here on my chair trying to understand why I relate so much with what you wrote.
The moments where I said "but that is me!" during your story are countless...especially if you consider that as far as I know since your last update on this story, we ended up with the same battle scars in the same "recovery island" that helped me mending.
If I will ever have the honour of transforming these virtual dollars in real cisks, it would be a pleasure man!
So far, thank you a lot for sharing your story! it was well worthy
 
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Andy Black

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There's a lesson in here about Fastlane thinking, and not only in terms of how to run (or not run) a business.

I'm sure I mentioned this earlier in the thread, but at one point I used to LOVE my work. I loved everything about being a recruiter. I was on a mission, and even the 100 cold calls a day to bag one or two new clients a month as it was back in the recessionary times didn't deter me one bit.

I used to look forward to Mondays.

I had almost the perfect life, as I saw at the time. I went in to put in a great day of work, a good session at the gym, then had fun evenings and fantastic weekends. I was doing exactly what I wanted to do.

Until one day I wasn't.

Only, because I'd never saved any money, had high expenses and didn't own my income source, I was trapped.

Things are a bit different now. Back when I started this thread, I still had several thousand £ in credit card debt. Not all consumer debt, but debt nonetheless.

Now I'm completely debt-free. Plus, I have almost £10k in the savings account and nearly half that again in crypto holdings. In the grand scheme of things, it's absolutely nothing - but this is the first time in my life I've ever had savings. Any income above and beyond the necessary? Straight into the savings account.

Now I'm able to use half of those savings to fund my new business that's finally in the works (I'll throw up a progress thread soon). Without the prior mindset shift I wouldn't have the money available to fund the startup costs.

I could buy a car. I really want a car. And a motorbike to replace the one I sold back in the UK. But I'm not going to buy either because freedom is more important. When I have £50k in the bank, maybe I'll spend £3k on a car.

Now I can even afford for my girlfriend to quit her mental-health-destroying job to work on her own business and do waitressing part-time.

My income has increased somewhat, but it's a changed relationship with money that really made this possible.

The joke of it is, to be really successful as a headhunter or in any other kind of high-ticket sales profession takes every bit as much work as being a successful entrepreneur (assuming you don't want to build the next Google). Only, the rewards are minimal by comparison.
Love this. Rep+
 

Contrarian

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WOW...

Just Wow...
I spent the last couple of hours reading this (and I do have to agree, your writing style is spot on) but I spent the last 10 minutes sitting here on my chair trying to understand why I relate so much with what you wrote.
The moments where I said "but that is me!" during your story are countless...especially if you consider that as far as I know since your last update on this story, we ended up with the same battle scars in the same "recovery island" that helped me mending.
If I will ever have the honour of transforming these virtual dollars in real cisks, it would be a pleasure man!
So far, thank you a lot for sharing your story! it was well worthy

Appreciate you taking the time to read it, I'm glad you enjoyed the experience!

And thanks for the virtual dollars. Happy to chat over a Cisk sometime, I'll drop you a PM. In the meantime, have you thought about posting an intro thread of your own? I'm sure we could learn from your story too. :)

Love this. Rep+

Thanks Andy!
 

ChrisV

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The first step is the creation of a performance-based job description, which defines required outcomes, performance and behaviours, rather than skills, experience and qualifications (doing, not having). This provides a template for selection which actually predicts on-the-job success.

Dude you’re literally nuts. This is a multi-million dollar idea any you need to patent it ASAP. How accurate is it as predicting On-The-Job Success? If it’s anything over ~80% you’re nuts (nuts nuts NUTS) for not pursuing it. You probably did a shit job of marketing it. Dude I don’t think this idea is ready for the trash can just yet. Dust ‘em off and get back in there.
 
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MJ DeMarco

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ChrisV

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If your system is as accurate as you say it is, you need to get in on this ASAP. I’ll literally work on it with you if no one else will.

Bro do you know how much one bad hiring decision costs a company? I’ve heard averages anywhere between $5,000 and $10,000. I mean realistically it can be anywhere, but it’s very damaging.

Zappos used to prospective employees a deal. . After a successful interview and training they say off them $1000 plus the hours they worked to quit. You don’t have to work. You go home, sit on your a$$, and get $1000. Why? $1000 is literally nothing in comparison to a bad hire.

Harvard Business Review: Why Zappos Pays New Employees to Quit–And You Should Too

But again, if your system does what you’re saying it does, it’s big. Imagine a piece of software that could produce stock returns with 80% accuracy. And employees are way more important.

Your idea is good, but I see no good evidence of a workable marketing strategy and that’s your issue. What’s your WIIFM? “What’s In It For Me.” They need to know specifically how they will benefit from this idea. Okay cool, you can predict if an employee is good or not. I know the importance of that. You know the importance of that. They don’t. Now how does that benefit the client. Interview HR workers. Interview small business owners. Get horror stories of bad hires. And immerse yourself with stories about how a great hire can really help someone’s business. You’re no longer selling an algorithm.You’re selling great employees. Make that your sales pitch. It’s akin to saying “okay this computer display has a 4323 x 2323423 Megawatthertz Electrogasm pixel display”.. alright, what the shit does that mean lol... “Your pictures look so good they’ll make your head spin.” Also I think you need to target CEOs and shareholders more than HR. CEOs and shareholders have more ‘skin in the game,’ and these decisions directly impact their bottom line.

but bro, companies go through so much work to get good employees. They comb through boring resumes, put prospective employees through rounds and rounds of interviews, and still after all that are only relying on a gut instinct hunch. It’s an ancient, archaic system. You have a number. A score. Have you never seen Moneyball? Please watch that movie if you havent A similar system to what your describing was used to assess baseball players in the mid 2000’s and it flipped baseball on it’s f*cking ear. It was basically a “Player performance algorithm” and it literally changed everything about baseball and how players were picked.

View: https://www.youtube.com/watch?v=-4QPVo0UIzc


View: https://www.youtube.com/watch?v=yGf6LNWY9AI


View: https://www.youtube.com/watch?v=Jjf1O4jMqeM



I wrote a post on this a while back. I mean I’d pursue this or you’re gonna be kicking yourself in 2 years when someone comes up with something similar.
 
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