Hi everyone,
This is the discussion for tonight's meetup group. I would love to hear some feedback. Please let me know if I am wrong about any points or if I missed anything. I know I missed a ton of information, but I only have so much time to go over this. John Chow is attending tonight's session so I will definitely receive his feedback.
The document:
These are my notes. I have observed these characteristics while watching successful business people. Following these guidelines does not mean you will have a successful business. I may be wrong on some points. Please take what you can and learn using your own experience. These are my own words; I am not quoting anyone. However, if you have questions, feel free to post them on the fastlane forum to get clarification.
· You do not need a lot of money to start a business—Patrick P from the forum and John Chow.
· You do not need to spend your own money to start a business. Have collected customers pay money up front and guide your product by listening to their opinions—Sam Ovens (Business Tips for Successful Startups).
· Find problems and solve them (if you can make money solving the problem)—MJ DeMarco.
· Get a list—John Chow.
· Get rid of your clients—John Chow.
· Having little stress while creating your business may be helpful (Patrick P).
· If your business hasn’t made income within 6 months, then it’s probably not working (personal e-mail from Patrick P).
· Do not spend more than 1 week creating a business— The Blog of Tim Ferriss How to Create a Million-Dollar Business This Weekend (Examples: AppSumo, Mint, Chihuahuas).
· Sell items that are already selling (do not worry about the competition). If it makes money then sell it—John Chow and Tim Ferriss.
· You have a better chance creating a fastlane business by having a passive business—MJ DeMarco.
· Time is worth more than money. Many people trade their time for money—MJ DeMarco.
· You do not need to have a product in order to sell the product. You can sell the product and create the product when there is a big enough need—Sam Ovens and John Chow.
· Find a process that works—MJ DeMarco.
· Remember, approximately 1% of the people in the world are millionaires (5+), the rest are slowlaners and sidewalkers. The 1% think and behave differently than the 99%--MJ DeMarco.
· You need to have thick skin in order to make it in the fastlane business—Vigilante from the fastlane forum.
· Lawyers and contracts can slow down your business during the initial stages of development.
· You do not need a professional website, video, or product during the initial stages of creating your business.
· Do not take negative opinions personally. This negative feedback may be a business flaw that you can fix. Action should be taken if there are any negative flaws in your business.
· Not listening to customers. Trying to impose your own ideas on customers that may or may not solve their problem.
· Not tracking your data. Example) not using google analytics to find out if your website did good or bad.
· Letting your business rely on hope rather than focusing on the facts or figures.
· Chose your business partners carefully. Make sure your business partners have the fastlane mentality. (Look for articles on the fastlane forum about business partners).
· The Fastlane Forum
· Mixergy.com/
· The Warrior Forum
This is the discussion for tonight's meetup group. I would love to hear some feedback. Please let me know if I am wrong about any points or if I missed anything. I know I missed a ton of information, but I only have so much time to go over this. John Chow is attending tonight's session so I will definitely receive his feedback.
The document:
These are my notes. I have observed these characteristics while watching successful business people. Following these guidelines does not mean you will have a successful business. I may be wrong on some points. Please take what you can and learn using your own experience. These are my own words; I am not quoting anyone. However, if you have questions, feel free to post them on the fastlane forum to get clarification.
Characteristics of Successful Businesses
· You do not need a lot of money to start a business—Patrick P from the forum and John Chow.
· You do not need to spend your own money to start a business. Have collected customers pay money up front and guide your product by listening to their opinions—Sam Ovens (Business Tips for Successful Startups).
· Find problems and solve them (if you can make money solving the problem)—MJ DeMarco.
· Get a list—John Chow.
· Get rid of your clients—John Chow.
· Having little stress while creating your business may be helpful (Patrick P).
· If your business hasn’t made income within 6 months, then it’s probably not working (personal e-mail from Patrick P).
· Do not spend more than 1 week creating a business— The Blog of Tim Ferriss How to Create a Million-Dollar Business This Weekend (Examples: AppSumo, Mint, Chihuahuas).
· Sell items that are already selling (do not worry about the competition). If it makes money then sell it—John Chow and Tim Ferriss.
· You have a better chance creating a fastlane business by having a passive business—MJ DeMarco.
· Time is worth more than money. Many people trade their time for money—MJ DeMarco.
· You do not need to have a product in order to sell the product. You can sell the product and create the product when there is a big enough need—Sam Ovens and John Chow.
· Find a process that works—MJ DeMarco.
· Remember, approximately 1% of the people in the world are millionaires (5+), the rest are slowlaners and sidewalkers. The 1% think and behave differently than the 99%--MJ DeMarco.
· You need to have thick skin in order to make it in the fastlane business—Vigilante from the fastlane forum.
Characteristics of Unsuccessful Businesses
· Believing your business will make money because you think your business will make money. (Businesses not solving people’s problems).· Lawyers and contracts can slow down your business during the initial stages of development.
· You do not need a professional website, video, or product during the initial stages of creating your business.
· Do not take negative opinions personally. This negative feedback may be a business flaw that you can fix. Action should be taken if there are any negative flaws in your business.
· Not listening to customers. Trying to impose your own ideas on customers that may or may not solve their problem.
· Not tracking your data. Example) not using google analytics to find out if your website did good or bad.
· Letting your business rely on hope rather than focusing on the facts or figures.
· Chose your business partners carefully. Make sure your business partners have the fastlane mentality. (Look for articles on the fastlane forum about business partners).
Places to get more information
· The Fastlane Forum
· Mixergy.com/
· The Warrior Forum
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