"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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LolVery cool. Didn't know Asians would jump into the fastlane. Usually we become doctors or something
Good find. Seeing all these young entrepreneurs is definitely an inspiration to me. If only it had the same affect on my parents...This found my attention this morning on the AOL Welcome Screen...
The teaser is "Meet Young Entrepreneurs Who Took the Fast Lane to Success" ...
good stuff i read all of them. i saw a couple ideas they have run with that i have contemplated in the past. funny how you start to see that. just didn't act on them b/c of other stuff.
good to know that ideas i'm having and seeing are working and filling needs
Dont you just hate that? It shows your on the ball though...lol
Live By Campus
Both of Eric Wu's sisters are doctors, and he expected to follow in their footsteps, but doing business appealed to him more. At the University of Arizona, he co-founded a job posting site for students called jobdoggy.com, which he flipped for $75,000 within a year and a half. He then borrowed money against his scholarships and bought rental properties around the campus. As the housing market boomed, his equity grew, but Wu had trouble finding tenants. That's why his LiveByCampus, a property listing Web site for students, was created. If a user signs a lease with a property listed on the site, LiveByCampus pays the user $100 for using the service. Apartment and residential property management groups pay LiveByCampus $195 for each successful lease transaction.
To stir up business, Wu hired two people to give presentations at student organizations, advertised on social networking sites, and formed partnerships with area property rental companies. Wu estimates about $50,000 in 2006 revenues and says that by February, 2007, his site will serve seven campuses, starting with Arizona before spreading to Texas, Colorado, and California.
United Bank Card
Jared Isaacman put together the plan for United Bank Card, a nationwide transaction processing company, alone in his parents' basement. The idea, he says, was not really unique. He simply noticed—he was working in IT for a credit-card company at the time—that the big financial institutions ignored the processing end of the credit-card business and focused more on issuing the cards to consumers. The industry was using outdated hardware, and transaction processing and setup times for new business customers were slow. Once he realized he was onto something big, Isaacman recruited close friends and family, who worked 100-hour weeks to build the framework for the company. Instead of thinking about locating venture capital, Isaacman says he took the $10,000 in stocks his grandfather had given as far as he possibly could.
That was in 1999. In 2005, the company did $56 million in business and Isaacman says he expects 2006 to be similar. This year, United Bank Card processed more than $5.5 billion in credit-card volume for over 60,000 unique businesses across the country. The company enables a variety of businesses, from restaurants to multilocation retailers, to accept credit-card and other noncash-based payments from their customers. Isaacman says that most people don't realize that it's not the banks that do the heavy lifting in the credit-card industry, it's the processing companies like United Bank Card that kick into gear when a card is swiped at a business. Isaacman's plans for the future include "selective acquisitions" with the goal of further increasing the company's market share.
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