Hi everyone,
Luke here from Australia, figured I should do an intro post as I think I’m going to be around for a while and would like to share progress and any tips I find along the way.
I probably have a similar story to a lot of people on here, at least similar beginnings… Woke up out of the slowlane daze one day realizing that I was stuck in a job that had no future prospects and would be decades paying off the mortgage.
I’ve always been pretty good with money, not spending too much on frivolous things, saving a large portion of my pay etc. Over the last two years I started following a blog which has been fantastic in preaching the slowlane (not ideal), but with a passive income/financial independence twist which I really took to. From there I’ve started reading lots of different books regarding starting businesses and finally stumbled upon the ‘Millionaire Fastlane ’. Wow, what an eye opener of what could be!
Plans of scrimping and saving to pay off the mortgage in 15 years while living like a pauper, and still sitting in the same desk at work is not going to happen.
I’ve been in discussion with my current employer to increase my pay over the last 8 months, my key points being that I’ve taken on much more than my job description (Architectural drafter), including the fact they’ve started charging me out at a senior technician rate (18 months ago) with no remuneration to myself. All discussions end with naught, so after 9 years with the same employer I’ve finally had it with this slow lane and lack of control and fully prepared to put it all into finding my way into the fastlane.
I will start a progression thread once I get rolling more, I have a few ideas that I would like to validate ranging from importing to inventing. I seem to gravitate towards dealing with a physical product at this point.
If I had one point to provide right now it would be not to make assumptions about what your customer is willing to pay. I’ve experienced that if you can provide a product that your customer wants and sees value in they are willing to often pay more than you realize. I recently sold some stereo equipment and the buyer ended up being half way over the country and I knew the postage would be huge and assumed once I quoted the postage costs they would back out. Even though the postage ended up being half the price of the product again, they still bought it! If you can provide that unique product that stands out, people will be happy to give you their money.
That’s all for now, look forward to hopefully being able to provide some informative content.
Luke here from Australia, figured I should do an intro post as I think I’m going to be around for a while and would like to share progress and any tips I find along the way.
I probably have a similar story to a lot of people on here, at least similar beginnings… Woke up out of the slowlane daze one day realizing that I was stuck in a job that had no future prospects and would be decades paying off the mortgage.
I’ve always been pretty good with money, not spending too much on frivolous things, saving a large portion of my pay etc. Over the last two years I started following a blog which has been fantastic in preaching the slowlane (not ideal), but with a passive income/financial independence twist which I really took to. From there I’ve started reading lots of different books regarding starting businesses and finally stumbled upon the ‘Millionaire Fastlane ’. Wow, what an eye opener of what could be!
Plans of scrimping and saving to pay off the mortgage in 15 years while living like a pauper, and still sitting in the same desk at work is not going to happen.
I’ve been in discussion with my current employer to increase my pay over the last 8 months, my key points being that I’ve taken on much more than my job description (Architectural drafter), including the fact they’ve started charging me out at a senior technician rate (18 months ago) with no remuneration to myself. All discussions end with naught, so after 9 years with the same employer I’ve finally had it with this slow lane and lack of control and fully prepared to put it all into finding my way into the fastlane.
I will start a progression thread once I get rolling more, I have a few ideas that I would like to validate ranging from importing to inventing. I seem to gravitate towards dealing with a physical product at this point.
If I had one point to provide right now it would be not to make assumptions about what your customer is willing to pay. I’ve experienced that if you can provide a product that your customer wants and sees value in they are willing to often pay more than you realize. I recently sold some stereo equipment and the buyer ended up being half way over the country and I knew the postage would be huge and assumed once I quoted the postage costs they would back out. Even though the postage ended up being half the price of the product again, they still bought it! If you can provide that unique product that stands out, people will be happy to give you their money.
That’s all for now, look forward to hopefully being able to provide some informative content.
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