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Entrepreneur from New Zealand

Kiwi Frank

New Contributor
User Power
Value/Post Ratio
22%
Jan 14, 2015
9
2
38
Hey everyone,

I just read Millionaire Fastlane after a friend recommended it, really good book.

Bit of background on me:
I went to university and studied astrophysics and renewable energy. I ended up working as an engineer designing buildings for a few years before I finally cottoned on to the fact that it was seemingly impossible to get seriously wealthy in any job.
Pissed off one night and looking for a new career, I typed "How to get rich" into google. It came up with a review for a book by Felix Dennis. I was too stingy to buy it but I found that the local library had a copy, so I borrowed it. Suffice to say it completely changed my mindset about careers and making money.

So fast forward two or three years. I'm now fully self-employed, I own a software business that provides GPS tracking systems for managing vehicle fleets. I have customers nationwide who pay me a monthly fee to use the website. I've also got an online jewellery business - I import things from overseas, people buy stuff from my website or online auction sites. People as far away as Norway and the UK have bought my stuff.

I feel that I'm on the right track as far as passive income streams go, but I'm still only making enough money to survive. I've got some of the ingredients right, but I haven't been able to put all the components together yet to build a really scalable, successful business. I'm currently trying to set up a company to put LED lights into commercial buildings. I've got some friends on board to do sales work, we've had a positive response from all the companies we've spoken to so far.

What I've found toughest so far is that even though all the 'experts' say "don't be afraid to make mistakes, that's how you learn" it sucks when you're screwing everything constantly. Mistakes cost time and money, and it often takes a long time to figure out that you've made a mistake. It's difficult to learn entirely by trial and error, but I've never been able to find mentors to learn from. I've never really met any other entrepreneurs at the same level as me. I go to lots of networking events, and I meet lots of of the "Yeah, I want to start a business but just haven't got around to it." types of people.

It might be that I live in a small(ish) country, population 4 million. I've considered shifting to another country, although there are obvious costs involved with that and it would be tricky to move my existing businesses. I'm interested in what other people think about living in the right country, sometimes I think the markets here are too small but I could be wrong.

Anyway, I'm interested to meet other people, I've been looking for a forum like this for a long time so I'm keen to contribute!
 
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Kingmaker

Gold Contributor
Speedway Pass
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337%
Jan 26, 2013
396
1,335
San Diego
Hey everyone,I'm currently trying to set up a company to put LED lights into commercial buildings. I've got some friends on board to do sales work, we've had a positive response from all the companies we've spoken to so far.
Welcome. Did any of the companies book you for the job? Where are you at with this idea?
 

Kiwi Frank

New Contributor
User Power
Value/Post Ratio
22%
Jan 14, 2015
9
2
38
Welcome. Did any of the companies book you for the job? Where are you at with this idea?

Hey, thanks for your reply. I started last year and have sorted out a great supplier who have been helpful, so I know that I've got quality products to offer.

I started around October approaching businesses. I've written up about 10 proposals for companies where I've booked and carried out a site inspection. I've brought a friend in who currently works in real estate but is looking for a change, and taken him out with me on some sales calls so he can see what I'm doing. He says he's keen to be involved more in the business and thinks it's a great opportunity, he gets beck from holiday next week.

The summer holidays have slowed everything down, people are only just back at work now so I'm reconnecting with my leads. Nobody has signed up yet but it's early days.

This business I think has more potential than my last ones in that I have a much clearer idea of how the whole system will work. I know how to generate leads, present quotes and then follow up. In my previous businesses, generating leads was always a massive headache, mainly because I didn't have a clear value proposition (rookie mistake).

I'm interested to hear if anyone else has experience running sales teams. My background is engineering so my sales experience is entirely self-taught.
 

lukeymacca

Contributor
Read Fastlane!
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Nov 26, 2014
34
52
34
Awesome work mate, I'm in the electrical industry so very interested in seeing how the lighting upgrade business goes! Currently In the process of upgrading to leds on a large mine site in WA. When we actually sat down and did the sums the savings in the long terms are huge, Increased reliability, lower power consumption and a much nicer light whats not to like! Best of luck with the business. If you ever get huge and expand into WA let me know :)
 
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codonnell

Contributor
User Power
Value/Post Ratio
180%
Aug 15, 2013
20
36
46
Hi All

I feel like a complete rtard but I can't work how to post a new thread?

Can anyone help on this?

For the life of me, I don't see this icon "Post new thread"

Chris
 

lukeymacca

Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
153%
Nov 26, 2014
34
52
34
Hi All

I feel like a complete rtard but I can't work how to post a new thread?

Can anyone help on this?

For the life of me, I don't see this icon "Post new thread"

Chris
Hey mate if your not in a subforum like fastlane slowlane you won't see the new post button. On the phone it's top right. Think it's the same for the pc
 

Even Steven

tumbling down the learning curve
Speedway Pass
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Nov 7, 2014
119
305
Last edited by a moderator:

codonnell

Contributor
User Power
Value/Post Ratio
180%
Aug 15, 2013
20
36
46
Hey everyone,

I just read Millionaire Fastlane after a friend recommended it, really good book.

Bit of background on me:
I went to university and studied astrophysics and renewable energy. I ended up working as an engineer designing buildings for a few years before I finally cottoned on to the fact that it was seemingly impossible to get seriously wealthy in any job.
Pissed off one night and looking for a new career, I typed "How to get rich" into google. It came up with a review for a book by Felix Dennis. I was too stingy to buy it but I found that the local library had a copy, so I borrowed it. Suffice to say it completely changed my mindset about careers and making money.

So fast forward two or three years. I'm now fully self-employed, I own a software business that provides GPS tracking systems for managing vehicle fleets. I have customers nationwide who pay me a monthly fee to use the website. I've also got an online jewellery business - I import things from overseas, people buy stuff from my website or online auction sites. People as far away as Norway and the UK have bought my stuff.

I feel that I'm on the right track as far as passive income streams go, but I'm still only making enough money to survive. I've got some of the ingredients right, but I haven't been able to put all the components together yet to build a really scalable, successful business. I'm currently trying to set up a company to put LED lights into commercial buildings. I've got some friends on board to do sales work, we've had a positive response from all the companies we've spoken to so far.

What I've found toughest so far is that even though all the 'experts' say "don't be afraid to make mistakes, that's how you learn" it sucks when you're screwing everything constantly. Mistakes cost time and money, and it often takes a long time to figure out that you've made a mistake. It's difficult to learn entirely by trial and error, but I've never been able to find mentors to learn from. I've never really met any other entrepreneurs at the same level as me. I go to lots of networking events, and I meet lots of of the "Yeah, I want to start a business but just haven't got around to it." types of people.

It might be that I live in a small(ish) country, population 4 million. I've considered shifting to another country, although there are obvious costs involved with that and it would be tricky to move my existing businesses. I'm interested in what other people think about living in the right country, sometimes I think the markets here are too small but I could be wrong.

Anyway, I'm interested to meet other people, I've been looking for a forum like this for a long time so I'm keen to contribute!
Kiwi Frank, welcome. I am a new member.

Sounds like you are killing it - good stuff with the businesses.
Not yet being a successful entrepeneur I am loathe to give advice, however I would point you to the material in MJ's books where he talks about the importance of focusing on one business only til you smash it out of the park - he refers to it as monogamy to the business or similar words. Good luck with your endeavours.
 
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Kiwi Frank

New Contributor
User Power
Value/Post Ratio
22%
Jan 14, 2015
9
2
38
Sounds like you are killing it - good stuff with the businesses.
Not yet being a successful entrepeneur I am loathe to give advice, however I would point you to the material in MJ's books where he talks about the importance of focusing on one business only til you smash it out of the park - he refers to it as monogamy to the business or similar words. Good luck with your endeavours.

Hey, thanks for your message. I hear what you're saying but I'm not spreading focus around, I'm switching paths. The first business that I started wasn't properly researched and I don't see that it has a future. It's a shame, but that happens sometimes when you start out. The second company started just to pay bills, but that's not going to grow and be huge either. So my latest company is designed so that it can grow and ultimately be a successful business.

Awesome work mate, I'm in the electrical industry so very interested in seeing how the lighting upgrade business goes! Currently In the process of upgrading to leds on a large mine site in WA. When we actually sat down and did the sums the savings in the long terms are huge, Increased reliability, lower power consumption and a much nicer light whats not to like! Best of luck with the business. If you ever get huge and expand into WA let me know :)

Thanks for that, sounds interesting. I'd be keen to talk more about the mining industry and how your business is going. Your own company or you working for them? I'll see if I can contact you privately.
 

Inphinity

Contributor
Read Fastlane!
User Power
Value/Post Ratio
13%
Aug 20, 2007
480
63
Auckland, NZ
Hey Frank, welcome to the forum :)

As a fellow Kiwi (Auckland here), it's good to see there's at least a few of us around here! If you haven't, you may want to read Cantwait2's success story, he's also a kiwi and, while not really active on the forums anymore, it's just one of many instances that prove that, aside from perhaps some specific niches, NZ is not too small a market to at least make a great start.

Do you mind if I ask which part of NZ you're in?
 
Last edited by a moderator:

Kiwi Frank

New Contributor
User Power
Value/Post Ratio
22%
Jan 14, 2015
9
2
38
Hey Frank, welcome to the forum :)

As a fellow Kiwi (Auckland here), it's good to see there's at least a few of us around here! If you haven't, you may want to read Cantwait2's success story, he's also a kiwi and, while not really active on the forums anymore, it's just one of many instances that prove that, aside from perhaps some specific niches, NZ is not too small a market to at least make a great start.

Do you mind if I ask which part of NZ you're in?

Hey, I'm in Auckland too, just moved up from Christchurch last year. I'd be keen to meet up some time and share experiences. Thanks for the link to the other story.
 
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Last edited by a moderator:

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