Hello, everyone!
I don't post often on the forum as I am a man of few words. So I'll briefly explain what my situation is and how my business is going.
I arrived in the USA 4 years ago (from a third-world country) as a student and could not work on a business as it would go against my VISA stipulations.
I got a one-year extension on my VISA that allowed me more leeway. I came from severe poverty, and I do not want to go back to that. Right now, there seems to be no long-term way for me to stay in America legally and long term. This might be my only chance to start a business in America. So I decided to give it my all, in hopes that it might provide a decent future.
So, I'm in the midst of execution.
I watched MJ's YouTube video on going from flat broke to rich (
View: https://www.youtube.com/watch?v=r_58zPgArb4
).
I started working on the set of stairs. (I think after reading TMF /Unscripted and having a wake-up call, everyone who should watch this video. It is the closest thing you will get to the "secret" to wealth if you come from that school of thought).
Concerning what is covered in the video linked:
Focusing on the unit, this is what my Fastlane business revolves around.
CENTS framework.
Control: Simple enough. I am starting and growing the business, so I will own most of it.
Entry: While it is difficult to start a food business, many people have done it. Working at Walmart has shown me this. There are huge beef jerky/biltong companies out there like Jack Links and Stryve Biltong.
Need: People have to eat, right? Beyond that, how I differ is that I bring a fresher product to the shelf compared to beef jerky. Everyone I've given samples to agrees that biltong is tastier. It also undergoes less processing and has fewer chemical preservatives (good for the health-conscious eater). It will be a bit more expensive than jerky, but I think the value provided is much better. This is not just me speaking. I've made a few sales, and all the customers have been very happy and said they would buy again.
When compared to the big biltong producer in the USA, the stuff they sell in the supermarket is rather disappointing. When I first bought it, I thought to myself, I can do better. Not sure yet if I'll go to supermarkets first or try what the founders of RxBars did and try a niche, such as the local gyms.
Time: This is a production issue. We will deal with this bridge when we get there.
Scale: The big issue is distribution. It is a good product, but it needs to get in front of people. Again, I'm not there yet. We will deal with that obstacle when we get there.
What have I done so far?
Sold my first $200 worth of product at a 100% profit margin. There was a lot that went into that, such as building the equipment to undertake the process, learning how to make the product with ingredients from this side of the world, providing samples, and learning how to package the product, buying the equipment, etc.
Designed my own food label. It is not professionally done. I'm aiming more for a rustic look. I cannot afford a graphic designer yet, and I am somewhat skilled with it. Below is my food label. What do you guys think?
In the process of obtaining the necessary food permits to sell on a larger scale. Given the nature of the product, I can't produce it in my kitchen. I have contacted a commercial kitchen to see if we can set something up. A bit pricey, but it is a price I'm willing to pay.
Once I obtain those, I will form an L.L.C. and figure out a way to start distributing on a larger scale. I'm giving myself a few weeks to sort this out. Lots of paperwork, and I'm new to this.
This is just the highlights. There is alot more going on in the trenches, but you can only understand if you've been there before.
Thanks and I'll update.
I don't post often on the forum as I am a man of few words. So I'll briefly explain what my situation is and how my business is going.
I arrived in the USA 4 years ago (from a third-world country) as a student and could not work on a business as it would go against my VISA stipulations.
I got a one-year extension on my VISA that allowed me more leeway. I came from severe poverty, and I do not want to go back to that. Right now, there seems to be no long-term way for me to stay in America legally and long term. This might be my only chance to start a business in America. So I decided to give it my all, in hopes that it might provide a decent future.
So, I'm in the midst of execution.
I watched MJ's YouTube video on going from flat broke to rich (
).
I started working on the set of stairs. (I think after reading TMF /Unscripted and having a wake-up call, everyone who should watch this video. It is the closest thing you will get to the "secret" to wealth if you come from that school of thought).
Concerning what is covered in the video linked:
- I got a job at Walmart paying $17/hour. (My foundational job).
- I skipped specialized labor as it was not necessary in my case. (Foundational job covers living costs with change to spare).
- My specialized skill is buying used rental equipment and reselling it on eBay (this makes me a month's worth of wages with about 10 hours of work. Only two drawbacks are it is not consistent/ I do not always have liquidity).
- My specialized unit is a food product I'm bringing to the West from southern Africa (where I'm from) called biltong.
Focusing on the unit, this is what my Fastlane business revolves around.
CENTS framework.
Control: Simple enough. I am starting and growing the business, so I will own most of it.
Entry: While it is difficult to start a food business, many people have done it. Working at Walmart has shown me this. There are huge beef jerky/biltong companies out there like Jack Links and Stryve Biltong.
Need: People have to eat, right? Beyond that, how I differ is that I bring a fresher product to the shelf compared to beef jerky. Everyone I've given samples to agrees that biltong is tastier. It also undergoes less processing and has fewer chemical preservatives (good for the health-conscious eater). It will be a bit more expensive than jerky, but I think the value provided is much better. This is not just me speaking. I've made a few sales, and all the customers have been very happy and said they would buy again.
When compared to the big biltong producer in the USA, the stuff they sell in the supermarket is rather disappointing. When I first bought it, I thought to myself, I can do better. Not sure yet if I'll go to supermarkets first or try what the founders of RxBars did and try a niche, such as the local gyms.
Time: This is a production issue. We will deal with this bridge when we get there.
Scale: The big issue is distribution. It is a good product, but it needs to get in front of people. Again, I'm not there yet. We will deal with that obstacle when we get there.
What have I done so far?
Sold my first $200 worth of product at a 100% profit margin. There was a lot that went into that, such as building the equipment to undertake the process, learning how to make the product with ingredients from this side of the world, providing samples, and learning how to package the product, buying the equipment, etc.
Designed my own food label. It is not professionally done. I'm aiming more for a rustic look. I cannot afford a graphic designer yet, and I am somewhat skilled with it. Below is my food label. What do you guys think?
In the process of obtaining the necessary food permits to sell on a larger scale. Given the nature of the product, I can't produce it in my kitchen. I have contacted a commercial kitchen to see if we can set something up. A bit pricey, but it is a price I'm willing to pay.
Once I obtain those, I will form an L.L.C. and figure out a way to start distributing on a larger scale. I'm giving myself a few weeks to sort this out. Lots of paperwork, and I'm new to this.
This is just the highlights. There is alot more going on in the trenches, but you can only understand if you've been there before.
Thanks and I'll update.
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