Feeling like 2 steps behind

[Keivo]

Hello!
Lately I have been feeling like I am lagging behind on everything. Every business idea I have had has been a failure. I am jumping from one idea to another. Just last month I had this sick idea. Since bars and clubs are pretty much closed cause of covid I thought why not create a service where I could create the coctails and drinks they serve in bars and have them sent directly to the customers. You and your so want to have a date night in the house but are bored of drinking wine? Just have the quality and tasty drinks delivered right to your doorstep. Nope, the law forbids hand to hand selling with alchohol. Only chance that would work if you would sell the ingredients and have them delivered to your mailbox and have the customer create the drink themselves. Having accepted my loss I moved on.

Now I thought about creating a marketing agency that focuses on small companies creating their brand. I live in a country where the population is about 1.3m. I started researching my competition...there are 82 of them but there are 133 000 active businesses in my country. If there were 20 marketing agencies it would seem reasonable to jump in, but 80? I have some experience with social media advertisements but nothing too crazy.


I just feel like everytime I try to take a step forward I am being pushed 2 steps back. Everything just seems so far out of reach. Has anyone experienced the same thing? If yes how did you keep going forward?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[InspireHD]

After reading about delivering liquor, I immediately had the thought about suggesting a mixed drink/liquor subscription box. You could put together various cocktail ingredients that people can then mix at home served in those smaller single-serve bottles. I never thought about that until reading this post.

I quickly googled it and found at least 6 companies that already do it. Neat idea, though.

 

[Keivo]

133,000 business for 80 agencies? That means that, if all of the businesses were signed to an agency, they would have an average of 1,511 each. That is not feasible. Therefore, you may have more of a chance than you think.

However, why do you need to have a complete agency? Why not get a list of emails for as many of those active businesses and create a compelling email to explain your strengths (SM ads) and offer them your services as a standalone service?

Agency was the wrong word, my bad. Standalone service is what i was looking for

 

[Guest1413tpa]

Yes. I do this all the time.

But it is mostly because I am in a constant battle with my brain, which causes me to doubt myself.

Competition means nothing, other than validation of the idea. Find their weakness and you will prosper.

Find the flaws in the competition and out perform them. This is what I plan on doing with one of my products under my PE firm. Their weakness is that they talk about a old version of Salesforce, and don’t train people on the new version. Hence what I plan on doing. - Outplaying the competition.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[WJK]

Hello!
Lately I have been feeling like I am lagging behind on everything. Every business idea I have had has been a failure. I am jumping from one idea to another. Just last month I had this sick idea. Since bars and clubs are pretty much closed cause of covid I thought why not create a service where I could create the coctails and drinks they serve in bars and have them sent directly to the customers. You and your so want to have a date night in the house but are bored of drinking wine? Just have the quality and tasty drinks delivered right to your doorstep. Nope, the law forbids hand to hand selling with alchohol. Only chance that would work if you would sell the ingredients and have them delivered to your mailbox and have the customer create the drink themselves. Having accepted my loss I moved on.

Now I thought about creating a marketing agency that focuses on small companies creating their brand. I live in a country where the population is about 1.3m. I started researching my competition...there are 82 of them but there are 133 000 active businesses in my country. If there were 20 marketing agencies it would seem reasonable to jump in, but 80? I have some experience with social media advertisements but nothing too crazy.


I just feel like everytime I try to take a step forward I am being pushed 2 steps back. Everything just seems so far out of reach. Has anyone experienced the same thing? If yes how did you keep going forward?

The good part is that you checked out the laws about liquor before you tried starting your business idea. What if you had jumped in with both feet and lost a bunch of money -- or ended up arrested and in bracelets.
And your idea in marketing... start small. Check it out. Try something in that field.

They talk about failing often and failing fast. What works about that concept is that a lot of concepts in business opportunities overlap. By thinking through those different opportunities, you will find that one idea blending into another. The more you dig in, the more aha moments you have. Your mind will start to connect the dots. This is a gift, not a curse.

 

[Bearcorp]

Do you know anything about marketing and have value to offer these businesses or was it just an idea because you've seen other people start agencies? If you have some value to offer, go out and get a business onboard and get to work. Then get another, then another...

 

[Jon L]

Unless there are 100,000 agencies for 1.2 million companies, worrying about what someone else is doing isn't the thing to do. Worry instead about how to best serve your potential clients with something you can do exceedingly well.

I'm reading a book by Henry Ford. He spent very little of the book talking about all the automakers he competed against back when he started Ford Motor Company. Instead, he focused on what he did to create the best car company he could. He ended up doing ok.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MHP368]

I feel you. What if instead of searching for a "business model" you got yourself trained to see the world as "how can I add value?" and then you let the business model work itself out once you see a big gap?

 

[Jay89]

What is the average time you are trying out a new idea?

 

[Keivo]

Yes. I do this all the time.

But it is mostly because I am in a constant battle with my brain, which causes me to doubt myself.

Competition means nothing, other than validation of the idea. Find their weakness and you will prosper.

Find the flaws in the competition and out perform them. This is what I plan on doing with one of my products under my PE firm. Their weakness is that they talk about a old version of Salesforce, and don’t train people on the new version. Hence what I plan on doing. - Outplaying the competition.

100% agree. Thank you

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Keivo]

What is the average time you are trying out a new idea?

When I first have an idea I start doing research first. I try to follow MJ´s C.E.N.T.S principle. If some points don´t follow the idea I try to think if it would be possible in the future. While researching is a good thing, I feel like too much research puts doubt on your mind and I will be scared to take the next step. I guess there is a good reason MJ says "F**k a business plan".

 

[WJK]

When I first have an idea I start doing research first. I try to follow MJ´s C.E.N.T.S principle. If some points don´t follow the idea I try to think if it would be possible in the future. While researching is a good thing, I feel like too much research puts doubt on your mind and I will be scared to take the next step. I guess there is a good reason MJ says "F**k a business plan".

Looking for the next thing is a lifetime quest. Sometimes it's just the next step in an existing business. Sometimes it's a fork in the road. (A lot of decisions are just that -- neither is better -- neither path is right or wrong -- it is simply making a choice to take one road or the other.)

I've personally been shedding a bunch of stuff -- most of it business-related. It's been a summer of selling off stuff to fund debt reduction. And I stopped doing some of the business activities I had going. I'm looking at every aspect of my life -- because I must clear the "shelves" in my life to make room for new things to develop and grow. The idea is to run lean and mean.

But, I always have several things going. Most of the time they are in different stages of development & maturity. I just don't want to be that little rat on his wheel, running as fast as I can, while going nowhere.

 

[Strm]

Hey fellow Estonian! Glad to have you here!
What are you doing to pay the bills at the moment?

Tervitused Tartust!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Keivo]

Hey fellow Estonian! Glad to have you here!
What are you doing to pay the bills at the moment?

Tervitused Tartust!

At the moment i took an academic vacation from university (1 year is completed). Currently working part time at a car detailing business

Tervitused ka Tartust

 

[Brian_Mac]

Ha i just saw this video the other day. Dont think he's got a license.

View: https://www.youtube.com/watch?v=27OvyWmOr98