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DWN - Execution Thread

A detailed account of a Fastlane process...

wyattnorton

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Read Rat-Race Escape!
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Jan 15, 2019
190
398
Northern IL & Southeastern WI
Hey y'all,

Here is the start of my execution thread. I am going to update it every month or when I have a big update.

Where I came from:
Starting out with where I came from. I was born in raised in northern Illinois. My pops owns a landscaping business and hustles cars and other things. My mom is a fourth-grade teacher.

Growing up I always saw both my parents going through their own battles and tough times financially. I have learned a lot over the years about my dad's business, how he got started, and the mistakes he made (the largest one was putting almost all his money into a nursery and overextending himself with employees and equipment which took a turn in 08-09).

College was always the goal for my parents to send my brother (older) and me to. My brother is a pilot for Air Wisconsin and in a few years United (if nothing changes... good luck right?). I was always seen as the compassionate one, so a pediatrician or veterinarian was how my family saw me. But I had other plans as I had no desire to go to college. However, with some convincing and a lot of scholarship money, I ended up going to Marquette University in Wisconsin blinded by the slow lane and sidewalk. Currently, I am studying commercial real estate and finance, I am graduating this summer (a year early) trying to move on with my life. I do not see myself going with the commercial real estate or finance route in my career, not gonna be stuck in some job or business (like brokerage) that is a glorified job.

Where I am at now:
After reading TMF and Unscripted this past year (now I am reading the Great Rat Race Escape ), I have begun to take action in terms of providing my own income past a job or internship. I sell items on eBay through retail arbitrage. Not a ton of money, but better than sitting around waiting for someone else to pay me.

I have also found a business idea along the lines of real estate. I will divulge more information once I get the total soft proof. I have gotten some proof of need from an experienced real estate agent who said it would be great, but I know saying it is much different than paying for it.

I am targeting boutique real estate brokerage firms (the firms are my main source of revenue) and the clientele my product serves are new and current real estate agents.

I have built out a landing page website and I am finishing up an "About Us" section so visitors know what I intend to provide as a service.

Where I am headed:

My goal (thanks to the 1/5/10 Strategy) for this year is "I own a profitable business that is a proven productocracy."

My goal for this month is "I have released my MVP (prototype) with 1 paying client."

Right now I am finishing the website (Not a huge project full of the actual service, but a way to soft prove my idea). Then I will be spending $100-$250 on advertising it on FB and TikTok to see if any new and current real estate agents are interested in using this service.

When I receive this soft proof, I am then going to build out the website to basic use of what I need. Then I am going to begin calling, messaging, and reaching out to boutique brokerage firms to show how I can grow their firm.


I am going to be updating you all next on 3/10/2022!

Talk soon,
Wyatt
 
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wyattnorton

Bronze Contributor
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
209%
Jan 15, 2019
190
398
Northern IL & Southeastern WI
Update (3/8/2022):

Just got my first yes!

Now, this is not a sale so I understand there is a difference between someone saying they are interested in my business idea versus actually paying money for it.

However, I have been utilizing my time in college as a way to research and have phone conversations with my target market (boutique real estate brokerage firms) and today I got my first yes to my service idea.

I also received recommendations in the form of how I can provide even more value with vetting people, setting them up, and how to set up interviews for them.

Good stuff so far.
 

wyattnorton

Bronze Contributor
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
209%
Jan 15, 2019
190
398
Northern IL & Southeastern WI
First-month update:

My goal was to launch an MVP and have one paying client.
This did not occur.

I realize that my goal did change about a week into "I have a CENTS smart business idea."
This I did accomplish.

I have begun outreach to my target markets that I am providing value to and have 2 phone calls today.

I have had 5 so far and continue to learn more about the problems in this industry (Residential Boutique Real Estate Brokerage Firms).

I realized throughout this month, that my initial target market was a part of the industry, but not the target market that I needed to be having conversations with.

This new target market allows me to understand how they actually go forward with their hiring practices and where I can be the best fit to help them.

My Goals for the next month:

  1. I have had 10 plus conversations with my target market regarding their pain points in their industry.
  2. I have begun to put together an MVP centered on providing as much value as I can.

The idea for the solution comes in the form of a website, however, you never know what pivots must be made.

Talk soon,
Wyatt
 

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