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INTRO How to start fastlane in Third world Asian country?

Discussion in 'Forum Introductions (Who are you!?)' started by ericaung, Oct 18, 2018.

  1. ericaung
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    ericaung Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Hello all,

    I am from Myanmar and currently working in Singapore. Yes, I am exchanging money with time and on the way to fast lane from slow lane.

    I am 23 years old, got degree and want to build a startup in cyber-security industry. My background experience is Have degree in cyber security and 2-year work experiences.

    When should I quit my full time job and how can I save capital to start my own cyber security company in Asia countries? I think I need much $$$ capital to get started business.

    Or should i start other industry business which don't need much capital?

    Thanks all!
     
  2. Longinus
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    Longinus Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    You seem to answer your own question:

    That's exactly what I would do/am doing.

    Welcome on the forum!
     
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  3. njord
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    njord Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    why do you need $$ to start?
    you can start working at your company in your free time, then quit when it starts generating cash;)
     
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  4. ericaung
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    ericaung Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Good idea mate! But the thing is I have a contract with my current employer for not doing outside work. They dont allow to do freelancing. But I can be anonymously doing and I guess it will be quite hard :-/
     
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  5. 100k
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    100k Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Please explain how the cyber security industry requires a lot of capital for someone with a degree in cyber security? [​IMG]


    Write & sell a book on how to study cyber security and graduate with certification in half the time it normally takes (and on the first try).

    Establish an online agency where you and your fellow cyber security friends offer your services to the world and you can work from home or wherever you have access to the inter-web (I'm not too familiar with the industry, does cyber security require you to be on site?)

    Find problems in the industry you work in that you can solve or systems & processes that you can improve or make more efficient and sell that to other cyber security companies.
    :cool::playful::clench:
     
    Last edited: Oct 18, 2018
  6. ericaung
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    ericaung Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Thanks for your comment. To register company license in Singapore, I need to pay $$$. Thats why I need capital.

    Write & sell a book on how to study cyber security and graduate with certification in half the time it normally takes (and on the first try). --> Good idea. I never think about this!

    Establish an online agency where you and your fellow cyber security friends offer your services to the world and you can work from home or wherever you have access to the inter-web (I'm not too familiar with the industry, does cyber security require you to be on site?)
    ---> It depends on work nature. It might be either remote or onsite. But I can establish an online agency without registering company locally.

    Find problems in the industry you work in that you can solve or system & process that you can improve or make more efficient and sell that to other cyber security companies.

    --> Oh man. this is good idea.
     
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  7. 100k
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    100k Gold Contributor Read Millionaire Fastlane Speedway Pass

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    There's no getting around that, you'll need some capital to set up your PROFESSIONAL looking website, with proper copy & imagery & branding. You'll need your government licenses sorted out, your insurance sorted out. There's no going around that.

    Another idea for ya... offer consultation services - there are probably companies in the west and around the world that would like to hire someone with your skills & expertise to advice them on how they can keep their company data safe.

    All the best to you.
     
    Last edited: Oct 18, 2018
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  8. BlackMagician
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    BlackMagician Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Welcome!!! Good that you want to change and improve. :)
    Why don't you start reading some gold /notable threads here first.

    You may get answers to all your questions.

    @MustImprove thread can give you many answers.
    Here: GOLD! - Save Yourself Years Of Frustration; It Worked For Me!

    Then read this.
    GOLD! - The "Astonishing Secrets" Thread

    then this:
    GOLD! - No network? No money? No idea? No education? NO PROBLEM!

    After reading some more (not many), start executing what you learned. What actually matters is Focus execution.

    Hope this helps.
     
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  9. babyballer
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    babyballer Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    What are you working as now in Singapore? Back office or front office? Sales or non-sales?

    To register a company in Singapore as foreigner, you need to put in 50k SGD as capital and hire a local director and secretary. The registration costs about 300-350 SGD annually. Directorship may cost you about 3K SGD a year. You can outsource the secretary for 300-600 SGD annually.

    HOWEVER, if you're a PR, you don't even need to put 50k as capital. You can even put in 2 dollars capital and you're in the business already. So if you're not a PR yet, work on getting one first.

    Have you worked in established companies with track record such as Accenture, Delloite, etc? Or any cyber security firms? If not, then you probably want to work your way inside first and establish some track record before even publishing a book.


    The work nature of cyber security is seldom remote. The customers especially governments will require you to clear some access requirements first. Since you're a foreigner, you are at disadvantage here.

    Also remember, 60% of Singapore economy belongs to government in a form of govt linked companies. They tend to buy from themselves. For example in this space, it will be Ensign Security.

    The rest of are MNCs which seldom buy from local companies since most purchasing decisions will come from the HQ (not Singapore). The private market here is small, so you can't sell much to them anyway.


    Since you're from Myanmar and it is a developing country, you stand a far higher chance to sell your services there. You have Singapore work experience, this will serve you well there as they think you have "global experience" which may not be necessarily so.
     
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  10. babyballer
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    babyballer Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    It does take a lot of money to start. Since the OP's requirement is fastlane and cyber security, this can only mean enterprise software B2B business selling cyber security software. This niche is crowded and very competitive. As such even to break in, you need to invest in developers, sales and marketing, and support at the very minimum.

    And hear me since I am in this B2B enterprise software sales, your product won't sell well if it is not in Gartner Magic Quadrant. From the moment you start till your product gets featured in Gartner, that could take 5-10 years. So this is where you will go to VCs and ask for money since you WILL NEED it. I can guarantee you that.
     
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  11. MattR82
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    MattR82 Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Creating something of your own is considered the same as freelancing in your companies view?

    Why not take another job still in the industry but gives you more freedom and flexibility to work on your own thing if it's impossible with them?

    I saw someone above mention consulting. I know someone that is about to close their agency and do consulting for 300 USD an hour on some online platform that connects consultants with clients while she works on creating something for herself. Don't know much about it but sounds interesting if you have the accreditation and skills.
     
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  12. ericaung
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    ericaung Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    HOWEVER, if you're a PR, you don't even need to put 50k as capital. You can even put in 2 dollars capital and you're in the business already. So if you're not a PR yet, work on getting one first.

    ---> I am not PR yet. But will apply it soon since I living here for 5 years almost already. I studied here before.

    Have you worked in established companies with track record such as Accenture, Delloite, etc? Or any cyber security firms? If not, then you probably want to work your way inside first and establish some track record before even publishing a book.

    -- Yes, I worked in big companies which are like PwC, Deloitte & some cyber security consulting start up firm.

    Also remember, 60% of Singapore economy belongs to government in a form of govt linked companies. They tend to buy from themselves. For example in this space, it will be Ensign Security.

    The rest of are MNCs which seldom buy from local companies since most purchasing decisions will come from the HQ (not Singapore). The private market here is small, so you can't sell much to them anyway.

    ---> Yes, it is true. They tend to buy from local companies like Ensight, etc.

    Since you're from Myanmar and it is a developing country, you stand a far higher chance to sell your services there. You have Singapore work experience, this will serve you well there as they think you have "global experience" which may not be necessarily so.

    ---> Yes. But it is quite hard to get clients there since security awareness is not well known here. People usually dont pay a lot to expensive cyber security services.

     
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  13. babyballer
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    babyballer Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Go and get one NOW not soon.

    Write a book then. What's your domain? App sec or identity management?

    What you can do is to sign up as a software reseller for companies like CA Technologies (they have CA Veracode), or a smaller one like Sonatype, Black Duck, etc... and sell them to banks in Myanmar. I am sure they can pay for that.

    Or you can start a new app sec business using VC money in a new subniche of security (for example IAST instead of what people commonly use which are DAST and SAST).

    Good luck.
     
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  14. ericaung
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    ericaung Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Write a book then. What's your domain? App sec or identity management?

    --> App sec (More specifically, penetration testing)


    Thank you very much. Appreciate your input!
     

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