Desperate to start. Please help.

[Schötzke]

Hello, my name is Timm from Germany and I'm about to go crazy! After reading Unscripted and Millionaire Fastlane I really want to start my own business. But all the ideas I came up with already exist. In addition, these are very perfected and I wouldn't have a chance in the "value competition". Because MJ says you should focus on one business I want to find the right one and execute from there. Do you have any advice?

 

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[Kung Fu Steve]

It doesn't matter if it exists. What matters is what value can you provide to your community that people would be willing to pay for?

There's always room for more business -- especially if you do it better.

 

[doster.zach]

GOLD! - HOT! - Starting (and Fastlaning) a lawn care service business

21 and currently selling cars at the moment. I’ve got some money to throw at something. I just bought a used trailer and have some lawn equipment. Got a pro website, branding, and I have decent copywriting skills for posting ads. Started with craigslist, Google AdWords and I’m on yelp and...

www.thefastlaneforum.com

Doesn't need to be a new idea, or even an idea that isn't tied to your time(at first). Checkout @Johnny boy

 

[Black_Dragon43]

Hello, my name is Timm from Germany and I'm about to go crazy! After reading Unscripted and Millionaire Fastlane I really want to start my own business. But all the ideas I came up with already exist. In addition, these are very perfected and I wouldn't have a chance in the "value competition". Because MJ says you should focus on one business I want to find the right one and execute from there. Do you have any advice?

Just focus on a run off the mill service where the value proposition is simple and clear. In other words, have a look at what successful competitors around your level and size are doing, and replicate it. There’s a lot to learn about running a business, so rather than trying to hit a home run from the first swing, just aim for first base.

Services are much better than products to start with. Also, if you can do a local service, even better. If not, pick a skill like copywriting or web design and get started that way. Either way, the shortcut is easy… find business models that you can replicate and do yourself by looking at competitors, then start doing them. Exactly like they are, there is a reason, after all, why what they’re doing is working.

One note here is pick competitors that are just a bit farther ahead than you. As a coach, it would be a bad idea to model Tony Robbins… but a good idea to model the coach you saw on LinkedIn get a few testimonials from happy clients who started his business just 1 year ago.

As you start making money and getting the hang of things, look for areas where you can innovate and improve. But the first step is to just steal what works.

 

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[Andreas Thiel]

Hi! I fear the question is way too generic. It is impossible to give helpful advice without knowing anything about your situation.

 

[MaxT]

What are your passions or favorite areas?
You can very well work in a market that already has several products. Just do it better/different/cheaper?/better marketing...
There are several points to address. Take the time to educate yourself on the business in general. There's a great book for that that I love (The Personal Mba)

 

[Schötzke]

Just focus on a run off the mill service where the value proposition is simple and clear. In other words, have a look at what successful competitors around your level and size are doing, and replicate it. There’s a lot to learn about running a business, so rather than trying to hit a home run from the first swing, just aim for first base.

Services are much better than products to start with. Also, if you can do a local service, even better. If not, pick a skill like copywriting or web design and get started that way. Either way, the shortcut is easy… find business models that you can replicate and do yourself by looking at competitors, then start doing them. Exactly like they are, there is a reason, after all, why what they’re doing is working.

One note here is pick competitors that are just a bit farther ahead than you. As a coach, it would be a bad idea to model Tony Robbins… but a good idea to model the coach you saw on LinkedIn get a few testimonials from happy clients who started his business just 1 year ago.

As you start making money and getting the hang of things, look for areas where you can innovate and improve. But the first step is to just steal what works.

First: thank you very much! I want a business that I can scale. Your opinion is definitely valueable but I already do something similar

 

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[barrackus]

Hello, my name is Timm from Germany and I'm about to go crazy! After reading Unscripted and Millionaire Fastlane I really want to start my own business. But all the ideas I came up with already exist. In addition, these are very perfected and I wouldn't have a chance in the "value competition". Because MJ says you should focus on one business I want to find the right one and execute from there. Do you have any advice?

As others said, the idea doesn't have to be new. In fact, I believe, almost no "first one" is a success. Google is not the first internet search engine, microsoft is not the first operating system creator etc.

Try the excercise called "five ideas a day". Create a google document, evernote note etc - and write down QUICKLY everyday five ideas that comes to your mind. It will help unlock your "ideas engine"

 

[Black_Dragon43]

First: thank you very much! I want a business that I can scale. Your opinion is definitely valueable but I already do something similar

Well, any of those businesses can scale. You can scale web design, copywriting, picking up trash, lawn mawing and so on.

The point being that ultimately each business will come with its own set of difficulties. Some are easier to get started but harder to scale, others easier to scale but super hard to get started.

Look at a company like Facebook. Scaled pretty quickly in terms of users and dominance, but was VERY difficult to get off the ground, took many years, and a ton in terms of venture capital money to become profitable. Or Tesla. And so on.

Those companies may scale very fast when they hit critical mass, but getting them to that point is very very difficult. Whereas something like web design may be more difficult to scale and as a result it may scale slower, but it can be more consistent and easier to get started.

You can, in the end, become a millionaire in pretty much any business. So just pick something and keep solving the problems you have in front of you, whatever they are. It sounds to me like you just want the end result but are getting scared away by the work!

 

[Ing]

What ve you done till now?

 

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[Andy Black]

Hello, my name is Timm from Germany and I'm about to go crazy! After reading Unscripted and Millionaire Fastlane I really want to start my own business. But all the ideas I came up with already exist. In addition, these are very perfected and I wouldn't have a chance in the "value competition". Because MJ says you should focus on one business I want to find the right one and execute from there. Do you have any advice?

Maybe check out the first couple of rows of links in my signature, and the tagline thing under my forum avatar.

 

[Ernman]

Because MJ says you should focus on one business I want to find the right one and execute from there. Do you have any advice?

MJ also points out, and many of us have experienced this, you'll likely go through a few false starts or changes of direction as you move through this journey. Don't get so wrapped up in trying to find the perfect first thing to do. Get out there, help people, create value and learn. Few of us knows exactly what path we want to take when we start. But all the paths we've taken - eventually - helped in our success.

 

[Schötzke]

As others said, the idea doesn't have to be new. In fact, I believe, almost no "first one" is a success. Google is not the first internet search engine, microsoft is not the first operating system creator etc.

Try the excercise called "five ideas a day". Create a google document, evernote note etc - and write down QUICKLY everyday five ideas that comes to your mind. It will help unlock your "ideas engine"

Awesome idea thanks!

 

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[Schötzke]

What ve you done till now?

imported stuff from china and sold it via marketplaces like ebay. I made some money out of it but nothing that made me a fortune. I want to build something with meaning / solve a REAL problem

 

[Ernman]

I want to build something with meaning / solve a REAL problem

What are you doing to identify problems that need solving?

 

[Epicure]

Hello, my name is Timm from Germany and I'm about to go crazy! After reading Unscripted and Millionaire Fastlane I really want to start my own business. But all the ideas I came up with already exist. In addition, these are very perfected and I wouldn't have a chance in the "value competition". Because MJ says you should focus on one business I want to find the right one and execute from there. Do you have any advice?

My 3rd business venture was a remodel business in the next state over from where I lived. There was plenty of businesses the did the same work. But I did it better, I always returned calls, was below budget and showed up on time and day agreed. I was swamped until the recession. By next venture I will have a backup plan. Good luck to you. Do it better.

 

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[Joejordan95]

imported stuff from china and sold it via marketplaces like ebay. I made some money out of it but nothing that made me a fortune. I want to build something with meaning / solve a REAL problem

what is a "real problem"?

finding something with meaning is probably why you're not getting anywhere. Too many people looking to feel fulfilled before they get started.

No one can tell you what roads have meaning, its completely subjective to you.

Look at service businesses. So many people nowadays wanna stay indoors on a laptop but theres money to made in service businesses that require low start up capital and you can start in a weekend

Window Cleaning
Gutter Clearing
Mobile tyre service
Picking up dog sh*t
Lawn Care
Pressure washing
Carpet Cleaning

These type of business may not get you straight into the fastlane but you'll learn some skills that will certainly help.

 

[Ernman]

No one can tell you what roads have meaning, its completely subjective to you.

As is what you do with all the profits you get from that dirty job - like supporting something that has "meaning". Many paths to the same end.