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A detailed account of a Fastlane process...

Raja

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View attachment 36013

What I've earned is enough to pay for everything required (loans, Amazon). Past this point, it doesn't make much sense to keep earning at this level. Daily updates stop here.

What's next is completing a few tasks from the todo list and start planning 2021.

Good bye!
Since you will jump back on and off time to time, why not write your detailed plan to achieve in next year and compare when you hop back in.
 
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MaxKhalus

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Since you will jump back on and off time to time, why not write your detailed plan to achieve in next year and compare when you hop back in.
Good idea. That's actually what I'm doing these vacations. So by the end of 2020, I'll post that.
 

MaxKhalus

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So, I made a pretty cool plan for 2021 in like 2 hours. It's more or less speciffic (except for the daily and weekly objectives which I'll break down later). Let's get into it.

The goal for 2021 is: earning money passively (and joyfully) and start working on a passion project ("game" dev mostly)

Requirements:

  • Every month (and week) must have a purpose
  • Making money shouldn't take most of my time. It should be a habit that takes, at most, 4h per day
But before we start with goals, let's give some context on 2020...

2020 Baseline:
- I have enough writer work to consistently deliver 2500 words a day at 3.5 cents per word (~$2.5K per month)
- I live in my parents' basement, even though I cover my living expenses at the same time
- I have a decent product on Amazon gathering reviews right now. My first (potentially successful) FBA product
- I've found an investment fund that offers 20% returns per month
- I have a rough plan for the game dev idea, and I've learned to code this year
- I paid back all my debt this month (and got a high-end laptop for work)

2020.png


That may already give you an idea of this year's goals.

AREAS OF FOCUS:
  1. WRITING is my main active income stream
  2. AMAZON is my main business model
  3. INVESTING is a possibility to earn passive income from unused money
  4. CODING is my passion project
In 2021, I want to spend most of the time on Number 4. Number 3 and 2 are passive, and Number 1 is easy when it becomes a habit (I've been writing for over 2 years).

This year, I no longer have the urge to save money for anything. I can be more relaxed with my saving/ active earning.

Let's go one by one:

1. WRITING
cover.png

- I want to master the following routine:

  1. Research 1h-1.5h before bed for 1h
  2. As soon as I wake up, write for ~2-3h and earn $70 from 2000 words
  3. That makes ~$2K per month, which is $1.5K saved after spending $500 on living expenses
- I'm now able to move to my own place. Where? How? When? That's undefined for the moment. But once that happens (this 2021 for sure), I'll do the following:
  1. Research 1h-1.5h before bed for 1h
  2. As soon as I wake up, write for ~3h and earn $85 from 2500 words
  3. That makes ~$2.5K per month, which is $750 saved after $1500 on living expenses
I expect to live comfortably with $1.5K per month. I don't commute, don't eat out, and don't buy stuff other than investments and basic needs. I guess most of the money will go for high-speed Internet. This excludes monthly subscriptions related to business.

In short, I'm happy with my progress in writing, and I'll use it to fund my lifestyle and businesses.

2. AMAZON
wp3144921.png

a. I want to make $30K profit per month passively
, which sounds realistic. And if that doesn't happen,
b. I want to launch three successful products this new year (including the current one) and optimize them

GOALComplete P1 launchFind & Ship P2Launch P2 & find P3Launch P3
DEADLINEQ1 BeginningQ2 BeginningQ3 BeginningEnd of Q4

Once you do the first product, replicating the others is very mechanic. So there's no need to give much detail on this process.

3. INVESTING
do3FMUuf4LwHsc9KQuXpuEo9Fi8sCCsm7xxw2eoMTNke3VV9GfGRPj4VsdtpBrJsqb041M8pB0UCqPAXWjapeVg2TuxDVaBbq053uwFFDrIQRvO9sa5XURwsBn4skaXEagg7J0cK

- I want to invest at least $2K in that program
this year. But if it stops working at some point, I'll retire the funds and just save them
- I want to dedicate $500 of my monthly savings to it (leaves me with $1K per month). And if I move to a new place, it will be $400 instead ($350 per month left)

20%ROI per month for giving a guy your money? I know it sounds sketchy, but I've done this last year and it worked well. This saved money doesn't have much purpose, so I don't mind losing it. Better than keeping it on a bank acccount.

4. CODING
NRb37z.jpg

Here's a rough idea of what I'll be doing:

Q1: Finish the game dev concept and code all the basic blueprints (stuff I'll be using for the whole year)
Q2: Code ALL the features to end up with a full game prototype (basic assets)
Q3: Add ALL the content libraries: sound effects, music, images, avatars, stylish UI, animations...
Q4: Polish the project, share, fix bugs, and test

Do you know those "gamification apps" that try to turn productivity into a game? I want to do the opposite: "workify games." I want to create a game (residually-generated RPG because it's full of content and strategy) and then turn it into a productivity tool.

I don't plan to sell this, so if it launches, most of it will be free.

Final Remarks:
- If I accomplish a quarterly goal with extra time, my reward is taking vacations for the rest of the quarter. (But I'll prepare for the next one first)
- If something happens to my writing career, I can find more clients. Or I can use the saved money to pay for the stuff
- As soon as I reach $5K/month passively, I'm hiring a cleaner. When I reach $10K, I'm hiring a cook and a VA.


___________________________________________________________________________________________

Those who know me know it. This isn't some guy talking of bullshit he'll abandon later. I've spent a whole year on the progress thread, even though I accomplished less than expected. These goals are REAL, achievable, and worth every minute.

Possibly, I'll follow up with a detailed weekly plan. Let me know If you'd like that. Also, any suggestions for this? And what are your 2021 goals?

2020-12-20 12_42_41-welcome 2021 - Google Search.png
 

lowtek

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An investment fund that's promising a 20% return per month is a scam.
 
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Raja

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An investment fund that's promising a 20% return per month is a scam.
I second this,

Warren Buffett's annual average return is 20.5% since it began trading in 1965, means they are his direct competition yet they are not billionaire themselves;).

I suggest you look at index funds they are as stable, diversified, and hands-off as they can get.
 

MaxKhalus

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Here's the plan so far (I'm working on the week goals right now):
1.jpg2.jpg3.jpg4.jpg5.jpg6.jpg7.jpg8.jpg9.jpg
 
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mguerra

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Nice thread brother, and respect for the accountability!

Following
 

MaxKhalus

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BACK.

Great to be back to the Fastlane Forum after almost a year out of it. Lots of stuff happened, but most importantly, the jump from freelancer to entrepreneur is finally happening.

Hence why I will revive this thread.


Not that it was dead. I was updating every now and then on @Lex DeVille's group. But the group is suddenly gone overnight (may will be back on in a day or two), so this is a good place to continue the updates.

So what's going on exactly?

Let me recap but what was going on before, three lines max.

Was writing for 1-2 "clients" 100% independently at low rates and no online presence whatsoever. That was until Q2 last year. Once I lost these clients, all savings, and income sources, I started to make different decisions. Also the FBA business is the worst ever, as it's been in the same spot for over 2 years because Amazon keeps suspending my account features.

That was Q2 2021. From there, I decided to focus on freelancing and leave amazon on the air (inventory hasn't arrived since then due to incompetent 3PLs). So I joined @Lex DeVille 's group, learned from his advice and style, and from August to November, I was making close to $0 and 0 clients.

After I started sending 10+ proposals a day, my income went from $0 to about $2K in November. I took most of December off, as I was getting too many clients and couldn't keep up. I got back this January 10th.

2022

During this break, I made the shift from freelancer to entrepreneur. Found 2-3 skilled guys to help me out writing those crypto articles. So I can spend my time on VIP clients and writing proposals. It does feel relieving.

So now I got a long list of clients, ranging from $40 to $100 for short articles, plus some website copy and scripts. All about crypto and trading.


Also built my website the right way (maxkhalus.com) and improved the Upwork profile with Lex's help.

Right now I'm struggling a bit to free time as I'm spending too much (procrastinating) on the posts that pay more. My goal is to do them faster (or delegate) to spend most of the time pitching.

That's that. I'll now get back to those client tasks and keep taking action.
If the Discord group fixes, I'll just repost the updates here. Big bucks are finally about to happen.
 
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MaxKhalus

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Quick update here, both for eCom and the writer agency.

Looks like Amazon FBA is falling out for now. After spending $5K on producing and shipping products, I'm now spending nearly $1,000 every few months for stupid stuff. Such as reinstating listing, fighting fake IP claims, and overpriced 3PLs. It hasn't touched the warehouse since I shipped it in March 2021. Not frustrated, as I'm way too used to this scenario.

This year, Amazon FBA goes FU so I can focus on what works. Then, the plan is to come back with all this xp to get it right once and for all. Didn't spend 5 years on this for nothing.

And what works is the agency. As for this January, there's a consistent load of content tasks that the writers are taking care of. Every day this week, I'm sending 10-12 proposals a day to pitch better clients. So far, the agency's been best decision and already makes 2022 an early win.

Will see how this evolves!
 

MaxKhalus

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Quick new update (for no reason in particular),

As for Amazon, freelancing, and the agency:

Amazon is kinda dead as it's been since 2021. By now, the (3rd) inventory should have arrived from the 3PL to the FBA warehouse. I just need to make sure it appears on the inventory and reinstate the listing. Still dealing with hijackers.

Yeah... totally trading control for short-term success. As soon as it works, I'm out and moving the brand to an independent store. But let's save the rant.

Very proud of the agency. This is the first one I started about three weeks ago and is going better than expected. About 30% profits (avg. $15 per post), 2-4 posts per week, and the freelancers are easy to work with. Clients are also happy.

Freelancing... kinda frustrating. I got these guys paying twice the amount (about $140 for the average post) with lots of work. They're flexible and fun to work with. Yet I'm finding excuses everywhere to waste my time somewhere else. So I've only done two posts since early December when I could have done around 8. Covid didn't help either (but that's not a problem at all now).

Also, crypto doing kinda good but could be way better. It's the last time I'm following the logical, 'popular' opinion. Most of what I sold at a loss raised by 40% overnight after holding for months. Whatever, not gonna get much into that.

· · ·​

So overall, there's this annoying feeling that I could do better. This is nowhere near where I want to be. And the first thing I'll improve is my focus. And stop wasting 12hs of work for what should take 4h-6h at flow state.

By the next update, I want to make a large change and have nothing to do with what's been shown so far. Tired of mediocrity, no half-measures this time.

Also, will probably move the thread later, as we're about to start a dual execution diary on ecom with my best friend.

If any of you have any advice for this 2018 Fastlaner, no matter how irrelevant, I'm more than happy to listen.
 

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