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first_up

New Contributor
Feb 7, 2018
2
5
14
DC
Hi all,

Bought and read The Millinoaire Fastlane. Great book, and I can't wait to read DeMarco's new one.

Long story short. I am a professional in DC. I went to top schools. Most would consider me a high-income earner. I am succeeding in my profession and have options.

But reading DeMarco's book convinced me that my current path is untenable: I did the math and realized I'm selling my time too cheeply. One realization led to another. I'm married with kids, which means that I owe a large part of my time to them. Selling my own time at a discount is bad enough, but selling my wife's and kids' time at a discount is dispicable.

So I saw my current situation, realized it's unacceptable, and now I'm planning next steps, which follow.

I'm going to:

(1) spend 2 months vetting/exploring various business ideas (I need specific input from you all on the idea vetting process. I plan to do a follow-up fleshing out my request.)

(2) by May, have launched a business that can initially be operated on <25 hours per week, but that has the potential to pay me $8k/month pre-tax by December 2018 and $22k/month pre-tax by December 2019.

(3) Adjust course as needed.

(4) Give my two week's notice December 1, 2018, and go to work for myself full time.

Thats it. Look forward to busting my a$$ with you all.

See you in the future.
 

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Andy Daniels

Bronze Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 29, 2017
201
398
193
Oregon
As you're idea searching, always keep the question "How can I add insane amounts of value to X customer's life?" in your mind!
 

RobD88

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Nov 20, 2017
196
485
222
Missouri
Selling my own time at a discount is bad enough, but selling my wife's and kids' time at a discount is dispicable.

Very well said.

Welcome to the forum. I'm fairly new here as well. While I've always had an entrepreneurial spirit an kept a notebook with various business ideas I've never had the motivation to move forward until now. Pretty much for the same reasons you share.

One way I've come up with business ideas is to simply poll my network of friends, co-workers, and acquaintances for things they find frustrating. I ask what one or two things would you change in your life if you could. Or what thing frustrates you so much you wish there was a solution for but haven't found one.

You'll get some vague answers that won't help but you'll also be surprised at the things that will come up that you didn't realize were staring you right in the face.

Then there's always the do something someone else does but better. Take a look at the top sellers on Amazon and see what could be improved about them. Then design your like product around the improvement. If you enter a billion dollar market and take just a tiny fraction of the market share you'll be earning your $22K per month in no time.
 

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