How Many Products/Ideas

[Jack Bauer]

Hi Everyone,

Question to everyone that has netted over $1M in profit, out of curiosity...

How many products and ideas did you launch before hitting a net profit over $1M?

Jack

 

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[jon.a]

That was a terrible first post

 

[TTG SS]

Wrong approach man.

Ask better questions, get better answers.

 

[Jack Bauer]

Sorry, being an entrepreneur is completely new and overwhelming to me. The site has so many resources it is actually inundating. Maybe you guys forget what it was like to start out? People will say to me, do nootropics on Amazon FBA, no do REI, no do SEO/e-mail marketing. I'm sorry if I haven't figured it out yet like you guys. No need to talk down to other people. I am trying to figure out how to not waste the little cash that I do have on something that may or may not work out.

 

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[JSM]

Sorry, being an entrepreneur is completely new and overwhelming to me. The site has so many resources it is actually inundating. Maybe you guys forget what it was like to start out? People will say to me, do nootropics on Amazon FBA, no do REI, no do SEO/e-mail marketing. I'm sorry if I haven't figured it out yet like you guys. No need to talk down to other people. I am trying to figure out how to not waste the little cash that I do have on something that may or may not work out.

Use the search function, type "hustle", read threads, take action, have more than a little cash.

 

[jon.a]

Sorry, being an entrepreneur is completely new and overwhelming to me. The site has so many resources it is actually inundating. Maybe you guys forget what it was like to start out? People will say to me, do nootropics on Amazon FBA, no do REI, no do SEO/e-mail marketing. I'm sorry if I haven't figured it out yet like you guys. No need to talk down to other people. I am trying to figure out how to not waste the little cash that I do have on something that may or may not work out.

Just tell us about you.
Start over with an intro thread.

 

[Jack Bauer]

I'm 30 years old, I have an electrical engineering background and am savvy with technology, engineering, construction, and renewable energy. I am the sole breadwinner of my household ever since my dad had a heart attack and stroke that resulted in paralysis and inability to work. I do not have a lot of startup capital and am looking to possibly get an Amazon FBA business running to generate some capital that I might reinvest into real estate once it gets going...but I'm not the type to put the cart before the horse.

 

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[PureA]

Hi Everyone,

Question to everyone that has netted over $1M in profit, out of curiosity...

How many products and ideas did you launch before hitting a net profit over $1M?

Jack

Ah! You remind me of my younger self. Welcome to the journey, friend.

 

[PureA]

I'm 30 years old, I have an electrical engineering background and am savvy with technology, engineering, construction, and renewable energy. I am the sole breadwinner of my household ever since my dad had a heart attack and stroke that resulted in paralysis and inability to work. I do not have a lot of startup capital and am looking to possibly get an Amazon FBA business running to generate some capital that I might reinvest into real estate once it gets going...but I'm not the type to put the cart before the horse.

Read the book (if you haven't)
Solve problems, help people.
Find a way to solve problems for people at scale.
Profit £££

 

[jon.a]

I'm 30 years old, I have an electrical engineering background and am savvy with technology, engineering, construction, and renewable energy. I am the sole breadwinner of my household ever since my dad had a heart attack and stroke that resulted in paralysis and inability to work. I do not have a lot of startup capital and am looking to possibly get an Amazon FBA business running to generate some capital that I might reinvest into real estate once it gets going...but I'm not the type to put the cart before the horse.

Find and follow @biophase He does and teaches what you want to do.

 

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[TTG SS]

Have you read the book?

 

[Waspy]

and renewable energy.

So Jack, what problems are facing this ENORMOUS growing market?

 

[Jack Bauer]

So Jack, what problems are facing this ENORMOUS growing market?

Where do I even start? Regulations...technical challenges...market acceptance of the existing tech. Most of the barriers being with batteries and integrating them into existing homes. I have looked into this but it is an ultra high capital startup cost...Musk had to have PayPal before Tesla etc.

 

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[Waspy]

Where do I even start? Regulations...technical challenges...market acceptance of the existing tech. Most of the barriers being with batteries and integrating them into existing homes. I have looked into this but it is an ultra high capital startup cost...Musk had to have PayPal before Tesla etc.

There is money everywhere. If you can prove you have solved a need, and its going to line your investors pocket, you can get the money you need.

 

[liljmoneyswag]

What's the point of the question? Some guys will tell you they hit the jackpot at there first business. Some guys will tell you it took 20 ventures until they got rich. Some guys don't even see success until a decade into their business. The numbers people give you are not going to help you. TMF is about how you can weed out and decide if your ideas are useful, so that you are not stuck having to play some numbers game in order to get rich. The more value you give to the world the more money you will get.

 

[Jack Bauer]

That's the thing, it has actually been keeping me up late at night. It is 2AM here and I can not for the life of me turn my brain off. Right now I have a "me too" business idea and I am thinking of a way to differentiate it.

 

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[Argue]

That's the thing, it has actually been keeping me up late at night. It is 2AM here and I can not for the life of me turn my brain off. Right now I have a "me too" business idea and I am thinking of a way to differentiate it.

Use this time to read the book. Right now it's 2:21 AM and I'm reading TMF . Just took a break to check forum.

 

[e_fastlane]

Wow, I can't believe how hard everyone jumped down your throat. Ignore the hate. It's a knee jerk reaction to all the wantrapeneurs coming in and asking for handouts. I thought your question was a GREAT one. The reality that most people don't talk about it is that most people do NOT hit it big with their first idea, even if they do everything right. The prevailing factor in successful entrepreneurs is persistence and trying again.

We have had many successful businesses that paid the bills and then some. But our first venture that netted 1+ million in profit on itself was probably # 5 or 6. Since then it has become easier and we have had a few.

I can tell you that other people that we know that are getting there or just got there, it is not their first venture either. They have all done a bunch of small things that were either mild successes or learning failures.

I would be comfortable betting that if your very first venture is the one that hits the 1+ million, luck had alot to do with it (right place, right time, right execution, right product, etc). But who knows. This is the internet, where everyone and their mother is a self proclaimed expert that can make 1+ million because they are so smart.