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How do I begin developing the entrepreneurial mindset to get started

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Ranjit Cherian

New Contributor
Feb 7, 2018
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Kalyan, Maharashtra,India
Hi all, I've just finished reading the millionaire fastlane. I understand the concept of adding value to the market to become a successful entrepreneur.

I want to elaborate two incidents:
1) I live in Mumbai and use suburban trains commute to a job. One day as I was sitting on the train which was about to departure I realised that my monthly pass had just passed its expiry date and would have to renew it. As I still had the time I got off the train and went to the ticketing queue to get it renewed.
As I was standing in a queue I started to think about why haven't the railways introduced an app to book tickets and monthly passes online.it would surely benefit the passengers and save time instead of waiting in queues.
So I searched online and found that the railways had already created an app 3 years ago and I assumed that since the commuters were not aware-they were not using it.
A couple of days later i saw an article in the local news paper The Mumbai Mirror 30Jan 2018
IMG_20180218_123702.jpg
that there were glitctwitht the app so I decided to work on that problem.
Then I read MJ's commandments CENTS. Control, Entry, Need Time and Scale

Sure the resolving of the issues would definitely meet the markets (commuters) need. And scale means that as the article noted that only 19000 out of 80 lakh daily local train commuters were using this app. Imagine if the app would have worked as intended it would have served its purpose to a wide range of consumers.

The cons were that the entry is easy. I mean there are thousands of app builders who can rectify this issue and solve this problem easily so entry is diluted. Next is the commandment of Control. The government controls the railways anise in control of what must be implemented and what not. Even if the appus successful; the govt can revert to its old methods of manual ticket booking when it's faced with opposition from the railway unions.

2) A few days later I was commuting to work and I was watching a downloaded video. Usually people watch videos placing their smartphones on lap andsit in poor posture. So I thought why not create a devicein which the smartphone can be enclosed and the viewer can watch whatever they want without any distractions as they will wear this device like a Virtual Reality gear but cheaper and which will accommodate any smartphone build.

Upon reaching office I searched about this and Google alreadyselling it's stuff online

I felt really stupid and foolish about myself. Now Its been quite some time I wanted to talk about the same feeling MJ felt sitting in the limo in the blizzard. I feel stuck in the slowlane and feel wheather I can escape this?

Can someone help me change my depressing mindset by guiding me exactly what I need to do to expand my vision and learn to identity/spot opportunities.

It would be of immense help if someone who was exactly in my situation who got out of the rut and escaped the slowlane.
 

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Last edited:

ZF Lee

Platinum Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 27, 2016
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Malaysia
Welcome.

Yes, I understand your feelings. It is crushing to stay in a gloomy environment.

Continue looking and thinking. You haven't really seen much yet!

Places to look for ideas to improve on:
- Your workplace, what tools or services are not working well?
- The company you work for-are there tons of customer complaints that the management pays no attention to?
- Your home- are there household wares that don't work properly?

And much more!

Continue to explore and read around this place. Read the GOLD and NOTABLE threads... they should give you some insights.
 

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