Context: I have a 9 to 5, I am a wantrepreneur so far, to achieve a greater freedom (and better hourly rates), I am setting up a consulting business, writing code. I have many ideas for SaaS, but after closer inspection, probably not so many people need them. Hence the current focus on consulting.
I know: A productocracy would be better, but I find consulting a useful way to build internal products while being paid to do so, and perhaps eventually remove myself from the interface and have other people pressing the buttons. It can be easy and profitable for them, as a job, or as B2B clients, if the buttons are clear enough to be "self-service". In the end it is like building a product inside out.
Dilemma: I cannot estimate the opportunity cost.
Problem: until the first client (or recurring revenue), how much my time is worth may be zero or not, in a way it is like the story of the Schrödinger cat, until the box is open. This is the kind of information that in hindsight shows what of the two options is the most stupid.
Question: How to know if I am:
I know: A productocracy would be better, but I find consulting a useful way to build internal products while being paid to do so, and perhaps eventually remove myself from the interface and have other people pressing the buttons. It can be easy and profitable for them, as a job, or as B2B clients, if the buttons are clear enough to be "self-service". In the end it is like building a product inside out.
Dilemma: I cannot estimate the opportunity cost.
- Focus: I may pay someone else to do the web development, copywriting, etc. If my time is 1.5x more valuable (approximately), I would be saving good time (note, I need more time than experts to do things out of my field of expertise), seems like a good investment to get things rolling fast (speed being so important in this forum). If I get enough clients fast, the return of the investment should be good.
- Do all the things: I may do it myself. It is arguably slower (i.e. more expensive), but I would learn in the process (and that is always good), I have more control, and in fact... I do not know yet if I am going to find many clients as a consultant, which would make the previous point a really stupid investment. In addition, learning additional skills would help to expand what I can do, and potential clients. Being a contractor for frontend with some clients beats being a consultant for something better with no clients.
Problem: until the first client (or recurring revenue), how much my time is worth may be zero or not, in a way it is like the story of the Schrödinger cat, until the box is open. This is the kind of information that in hindsight shows what of the two options is the most stupid.
Question: How to know if I am:
- doing an oil change and a smart investment as part of the work that takes building products, or
- procrastinating with busywork and a huge opportunity cost?
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today