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INTRO Brief intro from BB13

BB13

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Jul 12, 2019
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Hello,

Pleased to join the forum, thanks for having me. I am 37 year old, living in the UK (though not British born) qualified lawyer by profession and entrepreneur in spare time. Currently learning third foreign language (spanish). I have two small businesses which I set up in my free time (evenings and weekends). These businesses function OK but could do better which is why I am seeking out new opportunities. Due to upcoming changes in my personal life (am happily married and currently 7 months pregnant), I am looking to leave law and start my own business full time. I have own funds and happy to invest but need good and viable ideas. My legal background/experience is mainly in commercial real estate development so I would be seeking opportunities in prop tech sphere or property in general. Any ideas are welcome and I look forward to connecting.
Ps. Joined the forum after having read the Fastlane Millionare - great book! I read something similar not long ago, but enjoyed Fastlane more.
All my best
BB13
 

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MJ DeMarco

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Welcome aboard and congrats on the soon arriving baby!
 
OP
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BB13

BB13

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Jul 12, 2019
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Thanks very much M J DeMarco! I am glad to be here.
 
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BB13

BB13

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Jul 12, 2019
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welcome.. and yes for a new mother having a business is great for flexability
Thanks ChrisV. Yes, you are right, being a business owner is essential for flexibility. And I should have done it sooner. I have been bracing myself for a long time but my passion for law kept me cruising down the damn 'middle lane' ....which I detest. It's a time for money trap! I enjoyed working in real estate development law but I prefer working in real estate development itself and for some reason I didn't have the courage to face this fact. Well, I know why - sunk cost fallacy - I spent far too much time and resources to qualify as a lawyer in the UK! What nonsense!

Meanwhile, I had several (absolutely) fantastic business ideas related to real estate technology. Nowadays I am seeing successful start-ups that have realised my ideas and of course, kicking myself in the proverbial for not taking action all those years ago! Lesson learnt. And it's never too late (so I'd like to think!!)

Thank you for reaching out and I look forward to connecting.
 

ChrisV

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If you have a passion for law, there are no legal related businesses you'd be interested in starting? It has a few benefits. A) you're already good at it, B) you know you like it. I'm sure there are plenty of opportunities for entrepreneurship in Law.
 
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BB13

BB13

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Jul 12, 2019
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If you have a passion for law, there are no legal related businesses you'd be interested in starting? It has a few benefits. A) you're already good at it, B) you know you like it. I'm sure there are plenty of opportunities for entrepreneurship in Law.
I am looking into this as well, yes! Not sure I like the law itself as much as I used to though!
 

AgainstAllOdds

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One space I'd love to get into, but have no qualifications for are baby products. Huge market with constant opportunities for selling something new and innovative.

Make sure to keep a look out for opportunities as you venture into motherhood.

Congrats on the kid, and welcome to the forum.
 

ChrisV

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One space I'd love to get into, but have no qualifications for are baby products. Huge market with constant opportunities for selling something new and innovative.

Make sure to keep a look out for opportunities as you venture into motherhood.

Congrats on the kid, and welcome to the forum.
God that is brilliant. There's nothing that humans care more about than their children. I can't believe I've never thought of that.
 
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BB13

BB13

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Jul 12, 2019
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One space I'd love to get into, but have no qualifications for are baby products. Huge market with constant opportunities for selling something new and innovative.

Make sure to keep a look out for opportunities as you venture into motherhood.

Congrats on the kid, and welcome to the forum.
Thanks v. much AgainstAllOdds, that's a very astute and insightful suggestion.

I agree this seems to be a huge market(!)

May I ask, what do you mean when you say you have 'no qualifications' - do you mean you are not a parent yet or have no professional experience in the industry?

Thanks again for your input.
 

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SteveO

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My wife was an attorney that focused on commercial real estate transactions. She found law to be very demanding and boring. We did quite a number of transactions ourselves with apartments and retail strip centers. We currently own a golf course in Arizona. My wife is heavily into the operations and is an avid golfer.

We have the course listed up for sale though. Time for us to retire.
 

AgainstAllOdds

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May I ask, what do you mean when you say you have 'no qualifications' - do you mean you are not a parent yet or have no professional experience in the industry?
I'm not a parent, don't spend much time around kids, am not a woman, and have no industry experience. All of that combined puts me at a perceived disadvantage.

My guess is that women are the largest buyers of baby products, so it's beneficial to understand how they think - specifically mothers. Then, when you go to make a sale, there's a world of difference between a 27 year old guy with no kids selling the same baby product vs a 37 year old mom.
 
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BB13

BB13

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Jul 12, 2019
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My wife was an attorney that focused on commercial real estate transactions. She found law to be very demanding and boring. We did quite a number of transactions ourselves with apartments and retail strip centers. We currently own a golf course in Arizona. My wife is heavily into the operations and is an avid golfer.

We have the course listed up for sale though. Time for us to retire.
Excellent! So pleased to read this! Thanks for sharing and well done to you and your wife for making this happen.

We (my husband and I) are also looking into property development. The UK market is not great at the moment but we are involved in a project abroad which is very promising and scalable. I completely agree with your wife; real estate law can be boring and demanding. Unfortunately, I am someone who does not give up easily and my foolish stubborn attitude meant I stayed in it for too long. As a result, I became very good at it (am on the associate level to partner promotion) but I just don't want to do this anymore - decision made. There is no scale it, it's a time for money trap and I should have seen this before spending time doing it for more than 13 years. Again, as I say, I was trying to prove something to myself (!)

It is now time to apply that level of drive to something better.

Thanks again for reaching out. Please keep in touch.
 
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BB13

BB13

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Jul 12, 2019
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I'm not a parent, don't spend much time around kids, am not a woman, and have no industry experience. All of that combined puts me at a perceived disadvantage.

My guess is that women are the largest buyers of baby products, so it's beneficial to understand how they think - specifically mothers. Then, when you go to make a sale, there's a world of difference between a 27 year old guy with no kids selling the same baby product vs a 37 year old mom.
Got it, yes this makes perfect sense. Thought you meant that but just wanted to clarify. Thank you.

Will be keeping this idea at the back of my mind and if something crops up, I will let you know.
 

Champion

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Welcome to the forum!

My mom is a real estate broker in Berlin, so let me know incase I can help you out anyhow on that front. (Info's or something similar).

Best,
Champion
 

ChrisV

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I'm not a parent, don't spend much time around kids, am not a woman, and have no industry experience. All of that combined puts me at a perceived disadvantage.

My guess is that women are the largest buyers of baby products, so it's beneficial to understand how they think - specifically mothers. Then, when you go to make a sale, there's a world of difference between a 27 year old guy with no kids selling the same baby product vs a 37 year old mom.
That's what partnerships are for ;)

Getting into it with someone who may not have business savvy, but is familiar with children.
 
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BB13

BB13

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Jul 12, 2019
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Welcome to the forum!

My mom is a real estate broker in Berlin, so let me know incase I can help you out anyhow on that front. (Info's or something similar).

Best,
Champion
Thanks for that Champion.
All my best
BB13
 

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