Hi.
First off, I read The Fastlane Millionaire and it re-enforced my belief about where I want to go. Since reading that book and many other entrepreneurial books, they all pretty much sum up 3 main topics:
1. Create a product or service where the main goal is to improve people's lives. Don't start a business for the money. Money will be a secondary achievement.
2. Don't start a business that you are not familiar with. eg. If you are in software development, don't start a company in waste management etc.
3. The riches are in the niches.
Now a little bit about me. My name is Francois, 42, and I've been in software development for over 18 years. I used to do contract software development for over 13 years until 2015 when I could not land any contracts and I had a beautiful girl which placed me in great financial strife. Which forced me to get a permanent job to pay the bills.
During my contracting career I started 1 online store which did ok, about $2k a month serving a, you guessed it, niche. Unfortunately, a lot of competitors opened up as well as direct imports from China via eBay. Nowadays, I'll be lucky to get $10 a week! Now, according to Anik Singal, blaming the failure of sales due to competition is a weak excuse, and I sort of tend to agree. I should have pivoted to something else, or expand my business while the times were good.
I've also realised that contracting is definitely not an effective way to start/grow a business. Usually you can only get one client at a time and they usually want a warm body, me, on site 5 days a week. Which goes against the fastlane way. You're basically still just working for a boss.
During the last year or two, I've started and closed down two more drop shipping stores that produced 0 sales for the 3 months it was open. It's very draining to have started and pretty much failed 4 businesses already. So, I guess, my main purpose for joining this forum is to find inspiration, but more importantly to get motivation and mentoring to try one more time. To find my niche, to prove to myself that I am in fact an entrepreneur and not just another code monkey for someone else.
Some problem areas that I've identified is:
1. I tried to sell things I had no idea about.
2. I didn't do enough due diligence in identifying my market or niche.
3. I don't have any entrepreneurial friends, colleagues or support system where I could bounce ideas off of or advice on how to scale/pivot/start my businesses.
4. Australia is a very small market, and I'll need more information, help and advice on trying to market and sell products or services worldwide online. Should I venture into selling products online at all?
Now, I know that I am good at software development, and I don't really have any passions except for maybe listening to music, so I'm trying to figure out what niche to tackle. What service or product to create or sell that would make a difference to people's lives. Podcasts from Pat Flynn and John Lee Dumas has been informative, inspirational and reignited the desire to be my own boss. To be an entrepreneur. To be successful. To make a difference. To prove, not only to myself, but to my wife and daughter that I am more than just a warm body for someone else's dreams.
And that is why I joined this forum. To find like minded people who can help me achieve my goals. Is there anybody out there who can help me?
First off, I read The Fastlane Millionaire and it re-enforced my belief about where I want to go. Since reading that book and many other entrepreneurial books, they all pretty much sum up 3 main topics:
1. Create a product or service where the main goal is to improve people's lives. Don't start a business for the money. Money will be a secondary achievement.
2. Don't start a business that you are not familiar with. eg. If you are in software development, don't start a company in waste management etc.
3. The riches are in the niches.
Now a little bit about me. My name is Francois, 42, and I've been in software development for over 18 years. I used to do contract software development for over 13 years until 2015 when I could not land any contracts and I had a beautiful girl which placed me in great financial strife. Which forced me to get a permanent job to pay the bills.
During my contracting career I started 1 online store which did ok, about $2k a month serving a, you guessed it, niche. Unfortunately, a lot of competitors opened up as well as direct imports from China via eBay. Nowadays, I'll be lucky to get $10 a week! Now, according to Anik Singal, blaming the failure of sales due to competition is a weak excuse, and I sort of tend to agree. I should have pivoted to something else, or expand my business while the times were good.
I've also realised that contracting is definitely not an effective way to start/grow a business. Usually you can only get one client at a time and they usually want a warm body, me, on site 5 days a week. Which goes against the fastlane way. You're basically still just working for a boss.
During the last year or two, I've started and closed down two more drop shipping stores that produced 0 sales for the 3 months it was open. It's very draining to have started and pretty much failed 4 businesses already. So, I guess, my main purpose for joining this forum is to find inspiration, but more importantly to get motivation and mentoring to try one more time. To find my niche, to prove to myself that I am in fact an entrepreneur and not just another code monkey for someone else.
Some problem areas that I've identified is:
1. I tried to sell things I had no idea about.
2. I didn't do enough due diligence in identifying my market or niche.
3. I don't have any entrepreneurial friends, colleagues or support system where I could bounce ideas off of or advice on how to scale/pivot/start my businesses.
4. Australia is a very small market, and I'll need more information, help and advice on trying to market and sell products or services worldwide online. Should I venture into selling products online at all?
Now, I know that I am good at software development, and I don't really have any passions except for maybe listening to music, so I'm trying to figure out what niche to tackle. What service or product to create or sell that would make a difference to people's lives. Podcasts from Pat Flynn and John Lee Dumas has been informative, inspirational and reignited the desire to be my own boss. To be an entrepreneur. To be successful. To make a difference. To prove, not only to myself, but to my wife and daughter that I am more than just a warm body for someone else's dreams.
And that is why I joined this forum. To find like minded people who can help me achieve my goals. Is there anybody out there who can help me?
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