• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 40,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

NOTABLE! How can I Fastlane my current business?

Discussion in 'General Entrepreneur Discussion' started by tonyf7, Oct 31, 2016.

  1. tonyf7
    Offline

    tonyf7 Bronze Contributor Speedway Pass

    Messages:
    109
    Likes Received:
    132
    Joined:
    Oct 27, 2016
    Gender:
    Male
    Location:
    Arkansas
    Rep Bank:
    $932
    I was literally just thinking and taking notes on this idea.

    The drawbacks I can see right off the bat is that appliances change every year. I'd be creating videos 24/7 just to keep up with all the changes. Same for the PDFs.

    Unless I could outsource the video and PDF making, but that would require some capital.

    I was also thinking of a platform where skilled appliance techs can post their own videos for free and other rookie techs or DIY consumers can purchase those videos. Price per video would vary based on skill level required for the repair.

    Kind of like Udemy but for appliance techs.

    Sent from my SM-G935V using Tapatalk
     
  2. BigBrianC
    Offline

    BigBrianC Bronze Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    364
    Likes Received:
    456
    Joined:
    Dec 31, 2014
    Gender:
    Male
    Location:
    Athens, Georgia
    Rep Bank:
    $2,700
    Yeah new appliances change but people will always have older appliances. I'd start with this content network and see where it takes you. Start, then build. You can't build before you start!
     
    Jello and tonyf7 like this.
  3. Andy Black
    Offline

    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    6,883
    Likes Received:
    28,965
    Joined:
    May 20, 2014
    Gender:
    Male
    Location:
    Ireland
    Rep Bank:
    $161,908
    My advice?


    "Grow what you know." (Bryce Cleveland)

    You're getting leads for appliance repairs, and you and your Uncle are the "money nozzle" on the end of your current sales funnel.

    Do more of what's already paying your bills? (Listen to this interview).

    Get more leads?

    Get a new problem of too many leads?

    Solve that new problem?

    Keep going?
     
    Jello, gabeb1920 and tonyf7 like this.
  4. Andy Black
    Offline

    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    6,883
    Likes Received:
    28,965
    Joined:
    May 20, 2014
    Gender:
    Male
    Location:
    Ireland
    Rep Bank:
    $161,908
    Cool.

    Let's us know when you've finished listening to our chat, and what questions you have from that. Then we can dig deeper rather than cover the same ground.
     
    tonyf7 likes this.
  5. B V Marlon
    Offline

    B V Marlon Connecting Dots Read Millionaire Fastlane Speedway Pass

    Messages:
    77
    Likes Received:
    148
    Joined:
    Oct 29, 2016
    Gender:
    Male
    Location:
    UK
    Rep Bank:
    $657
    Yep. Just dissecting it now.
     
    Andy Black likes this.
  6. B V Marlon
    Offline

    B V Marlon Connecting Dots Read Millionaire Fastlane Speedway Pass

    Messages:
    77
    Likes Received:
    148
    Joined:
    Oct 29, 2016
    Gender:
    Male
    Location:
    UK
    Rep Bank:
    $657
    Wouldn't that work for the older appliances that are the mainstay of the shop/workshop side of your business? You could use them as training guides for someone to take over that part of your operations. That way you could maximise the use of your knowledge on the outside repairs and also possibly monetise those videos at a later stage.

    That's more of an organisation chart. Really you need to examine every process in your business from top to bottom and allocate timings and costs to every activity it contains.

    I find it best to sit down and think about every activity and put all of the steps involved into a flow diagram for that particular flow. You can then combine all of these individual processes into one larger diagram to give you the overall picture of the whole business. I find that if I try to do a whole business at once, steps get missed.

    Once you've got that, you can allocate yours and your Uncle's time to every step and also identify the things that only you two can do, and things that can be outsourced. That will show you where you can get more time to do only the things you can do in the short term. It can also show you where you can train up others to take over the day to day tasks, leaving you to run the business, instead of you having to work in your business, in the longer terms. Once you have all the systems and processes in place, you could then franchise the business into other cites. Now that would be truly Fastlane.
     
    Jello and tonyf7 like this.
  7. tonyf7
    Offline

    tonyf7 Bronze Contributor Speedway Pass

    Messages:
    109
    Likes Received:
    132
    Joined:
    Oct 27, 2016
    Gender:
    Male
    Location:
    Arkansas
    Rep Bank:
    $932
    At first I was in lala land. Had no idea what I was looking at.

    But as I listen to your recording I am understanding it more.

    Compiling list of questions for you guys.

    Sent from my SM-G935V using Tapatalk
     
    Andy Black likes this.
  8. tonyf7
    Offline

    tonyf7 Bronze Contributor Speedway Pass

    Messages:
    109
    Likes Received:
    132
    Joined:
    Oct 27, 2016
    Gender:
    Male
    Location:
    Arkansas
    Rep Bank:
    $932
    Yea, it's clicking now that I'm about half way through your recording.

    I just make it a habit to write down any and all business ideas no matter if I'll pursued them or not. Never know when one of those ideas may come in handy.

    Sent from my SM-G935V using Tapatalk
     
    Jello and Andy Black like this.
  9. tonyf7
    Offline

    tonyf7 Bronze Contributor Speedway Pass

    Messages:
    109
    Likes Received:
    132
    Joined:
    Oct 27, 2016
    Gender:
    Male
    Location:
    Arkansas
    Rep Bank:
    $932
    Andy, listened to your interview with @Random_0 and I see now that I haven't been thinking of myself as a business owner. I also have a ton of questions which I'll post here once our interview is done.
     
    Last edited: Nov 4, 2016
    Andy Black likes this.
  10. tonyf7
    Offline

    tonyf7 Bronze Contributor Speedway Pass

    Messages:
    109
    Likes Received:
    132
    Joined:
    Oct 27, 2016
    Gender:
    Male
    Location:
    Arkansas
    Rep Bank:
    $932
    Here are my takeaways from your chat with @Random_0 while we wait for our interview.

    My biggest take away from your interview with Random is that just because you own a business doesn't make you a business owner.

    The business can very well own you.

    This isn't my first time learning about business systems that run independently of the owner's involvement and I understand the concept, but I was completely blown away by how unaware I had become to the fact that I am the one being worked by my business instead of the other way around.

    Even after reading @MJ DeMarco book I saw myself as having at least one foot in the Fastlane door simply because I owned a business, but in reality I've just created another job for myself.

    Just like a fish who isn't aware it lives in water because it was born there, I also wasn't aware I was still swimming in the slowlane ocean because it's all I've ever known.

    I should be the one providing jobs instead of working one.

    Aside from that revelation I also realized how little I've utilize resources that are right in front of me.

    AdWords have been around for ages. I see them every time I Google something, but not once has it ever occurred to me to utilize this tool. Honestly, I didn't think AdWords worked. I can't remember the last time I've clicked or even paid attention to one. But it's obvious by Random's results that they do indeed work. It's also possible that the AdWords I've seen are ineffective at making me click or that I've desensitized myself to them because of a false belief that they don't work.

    Hearing Random talk about his fear of losing control also rang a bell. I'm so used to BEING my business that delegating aspects of it makes me nervous. I've been my own employee and boss for so long it's hard to think of giving up control. But now I'm also curious as to how I can start delegating more so I can actually get down to running a business.

    Hiring contractors and/or consultants is something I've been reluctant to do, partly because we need to make more money, but also because I've been trying to do it all myself. Although I give myself credit for getting as far as I have, I now realize that hiring a pro could have saved me a ton of time. It's comparable to people who spend a whole Saturday morning trying to repair their own washing machine when they could have just paid us to do it in 30 minutes so they could enjoy the rest of their morning playing outside with their kids. Who knows what potential I could've reached by now with the help of a solid team.

    I think Random said it in your interview that you just can't do it alone.

    Another take away is the concept of upgrading your problems. Currently our problem is that we want more customers so we can make more money. But I want to upgrade that problem to the next level which would be having an abundance of consumers and not enough time to meet all their needs, which in turn would require/allow us to expand. Realizing the problem is there, looking to solve it and seeking bigger problems is an eye opener for me.

    My mind is racing with ideas, questions, desires and fear.

    Feeling overwhelmed because there is so much I don't know but also excited because I have so much to learn.
     
    Last edited: Nov 4, 2016
    Jello, B V Marlon, miked_d and 2 others like this.
  11. devine
    Offline

    devine Bronze Contributor

    Messages:
    761
    Likes Received:
    116
    Joined:
    Apr 16, 2015
    Gender:
    Male
    Location:
    Russia
    Rep Bank:
    $615
    Next step is to find out that creating jobs could be a slowlane and full of headaches venture as well.
    Pretty often it gets to the point of no return even worse than 9-to-5.

    I'd look into manufacturing from now on. What can you possibly manufacture?
    Once you have something, you can scale very quickly, unlike the business you currently run as it relies on too many variables.
     
    Last edited: Nov 4, 2016
    tonyf7 likes this.
  12. Random_0
    Offline

    Random_0 Bronze Contributor Speedway Pass

    Messages:
    80
    Likes Received:
    115
    Joined:
    Aug 4, 2016
    Rep Bank:
    $664
    Which is still a better and more rewarding life than working for somebody else

    It's unavoidable - hire experts to do their thing and middleman the process

    If you did, you'd be stuck doing the thing you do best and stretching yourself out thin with crap results.

    As long as you're committed then each problem will probably uncover new barriers to each step you need to take. You've already passed one step: What do I do about hiring?! - You have already worked out that subcontract workers are a solution to that problem

    Just start now, the fear is because you're about to start something new. Have your old actions got you rich?
     
  13. Andy Black
    Offline

    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    6,883
    Likes Received:
    28,965
    Joined:
    May 20, 2014
    Gender:
    Male
    Location:
    Ireland
    Rep Bank:
    $161,908
    Thanks for listening and for writing your takeaways @tonyf7

    It's as if a flick has been switched, and I'm delighted.


    Yes, as business owners we will always be problem solvers. That not only goes with the territory, but is a role we need to revel in.

    Solving one problem means we will be confronted by a new problem immediately. This indicates we're MAKING PROGRESS.

    When we're still trying to solve the same problem, then we're not making progress. We are then (by definition) STUCK.


    And yes, as the business owner our job is no longer to DO the work at the coalface. We create jobs, we don't do them.


    @Random_0 is making great progress because he has got over his ego. He's not "fearless" - because that isn't normal. He's *courageous* because he faces his fears and takes them on regardless.


    Let's have a chat next week. I much prefer calling them chats than interviews. We're just guys shooting the breeze over a virtual coffee.

    Personally, I'd love to just hear you two guys talking together. I think that would be a really interesting chat to eavesdrop on.

    We'll work something out.

    Thanks again for your feedback.
     
    tonyf7 likes this.
  14. miked_d
    Offline

    miked_d Silver Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    561
    Likes Received:
    580
    Joined:
    Dec 25, 2008
    Location:
    Los Angeles
    Rep Bank:
    $2,774
    If your signup date is accurate, you are doing quite well. It takes some of us (me) YEARS to utilize all of the information and help in these forums.

    Keep it up!

    edit - I thought the quote was a great example of you taking in this info.
     
    Last edited: Nov 4, 2016
    tonyf7 likes this.
  15. Random_0
    Offline

    Random_0 Bronze Contributor Speedway Pass

    Messages:
    80
    Likes Received:
    115
    Joined:
    Aug 4, 2016
    Rep Bank:
    $664
    The first time I delegated part of my job out was with my accountant.

    I pay approx 20-40+ invoices per week to subcontractors. I hate adding them up and the various legal crap that comes with paying subcontracted tradesmen in the UK. I make loads of mistakes and hate the process.

    I wanted someone to do the whole thing for me... my accountant finds it easy and doesn't even charge me extra. I share a Dropbox folder with him and he dictates to me weekly where to make the payments. There is no fear involved. This system saves me time and money.

    That delegation means that I can focus on making money.
     
    Andy Black and tonyf7 like this.
  16. tonyf7
    Offline

    tonyf7 Bronze Contributor Speedway Pass

    Messages:
    109
    Likes Received:
    132
    Joined:
    Oct 27, 2016
    Gender:
    Male
    Location:
    Arkansas
    Rep Bank:
    $932
    Uhm, hell yes.



    I'm see that it's inevitable. Time to find me some middlemen.



    Well, my current action could get me rich if I just keep investing in this one awesome mutual fun... haha. Fear hasn't stopped me from getting this far and it won't stop me for going further!
     
    Andy Black and Random_0 like this.
  17. Random_0
    Offline

    Random_0 Bronze Contributor Speedway Pass

    Messages:
    80
    Likes Received:
    115
    Joined:
    Aug 4, 2016
    Rep Bank:
    $664
    Wasn't your repair-man uncle a chance for you as a middleman? He can fix appliances - bring him an appliance, pay him to fix it and sell for more. Is that not a process that can be duplicated all over the US?
     
    Andy Black and tonyf7 like this.
  18. tonyf7
    Offline

    tonyf7 Bronze Contributor Speedway Pass

    Messages:
    109
    Likes Received:
    132
    Joined:
    Oct 27, 2016
    Gender:
    Male
    Location:
    Arkansas
    Rep Bank:
    $932
    Seems in addition to being problem solvers that business owners are also problem seekers. Not sure if you're into hip hop but maybe @MJ DeMarco will get this Notorious B.I.G. reference. One of his songs says "Mo Money, Mo Problems" but now I see it's really more like "More Problems, More Money."

    Changed "interview to "chat" btw.

    :tiphat:
     
    B V Marlon, Andy Black and Random_0 like this.
  19. tonyf7
    Offline

    tonyf7 Bronze Contributor Speedway Pass

    Messages:
    109
    Likes Received:
    132
    Joined:
    Oct 27, 2016
    Gender:
    Male
    Location:
    Arkansas
    Rep Bank:
    $932
    Crazy how you think you're understanding something, and maybe you are, but fail to put the spotlight on yourself to examine if your'e displaying the same symptoms of the ailment you're reading about.
     
    Andy Black likes this.
  20. tonyf7
    Offline

    tonyf7 Bronze Contributor Speedway Pass

    Messages:
    109
    Likes Received:
    132
    Joined:
    Oct 27, 2016
    Gender:
    Male
    Location:
    Arkansas
    Rep Bank:
    $932
    Contractors, accountant and a call center. Seems you're building a nice team there. Looking forward to picking your brain further.
     
    Andy Black and Random_0 like this.
  21. tonyf7
    Offline

    tonyf7 Bronze Contributor Speedway Pass

    Messages:
    109
    Likes Received:
    132
    Joined:
    Oct 27, 2016
    Gender:
    Male
    Location:
    Arkansas
    Rep Bank:
    $932
    He's at a point agewise and healthwise that he needs me to take on most of the physical work when repairing appliances. His English is also limited so I do most of the talking when dealing with customers.
     
    Andy Black likes this.
  22. Jeanne Gray
    Offline

    Jeanne Gray New Contributor

    Messages:
    6
    Likes Received:
    2
    Joined:
    Jun 21, 2017
    Gender:
    Female
    Location:
    Westfield
    Rep Bank:
    $22
    Correct. Like your ideas of craigslist for new business startup. But on the track of fastening your business; no matter how successful your small business is it’s going to be a j-o-b until your crafts it to follow the rules for right business.
     
  23. Thoelt53
    Online

    Thoelt53 Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    270
    Likes Received:
    722
    Joined:
    Dec 8, 2016
    Gender:
    Male
    Location:
    Boston, MA
    Rep Bank:
    $3,708
    Any updates?
     
    Jello likes this.

Share This Page