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I Have The Fire! Now I Need To Find The Need... [Advice Request]

A detailed account of a Fastlane process...

DrScream

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Since I was a little kid I had always told my mom I was going to create something and become financially independent with my own creation. After reading both of MJ's books I discovered that I had what it takes and that failure didn't mean I failed but that I just needed to try again.

I'm 24 years old now and my mom is starting to get sick. I don't want her to have to work ever again because she's done so much for me and my brother.

These last few years I've been in a bit of a haze because I've essentially turned myself into a workhorse where all I think about is the success I need to achieve in order to get my mom off the hamster wheel that's slowly killing her. This all chipped away at my mental health & now that I've gotten my mental health issues in order I want to get back to finding a need that I can fill so that I can finally develop some money that'll allow me to live the life I truly enjoy.

So far I have a few ideas that could potentially make me 'Good Money' (Not Great Money but it's a start) but I can't seem to assess whether they're good or if the market is just too saturated. I struggle with what MJ referred to as the crowded room myth.

If there is a lot of people in a niche there should still be a way to differentiate me from the competitors, right?

How do you guys assess if a venture is even worth pursuing (Golden Gumball Analogy)?

Is it just a matter of creating an MVP (Minimum Viable Product) and testing the market 100% of the time?

I've been meditating on finding a niche to dive into and find issues so I've just been searching Amazon and other sites for the complaints people have. Any other suggestions on this process?
 
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Bertram

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Have you read anything by MJ DeMarco?
I'm sorry to hear about your mom. Be careful not too take on a problem that might prove too big to address. I did so with family members and it cost me years of life as well as quality of life.
 
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DrScream

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Have you read anything by MJ DeMarco?
I'm sorry to hear about your mom. Be careful not too take on a problem that might prove too big to address. I did so with family members and it cose years of life as well as quality of life.
Yeah, I've read TMF once and Unscripted twice.

Appreciate the kind words. I've essentially dropped the chances of getting stuck in any sort of responsibility to almost zero. I've stopped dating so that I don't screw up and get a girl pregnant. I don't really go out much anymore other than to destress if I've had a stressful week and it usually just includes me riding my longboard around town (No money spent).
 

Bertram

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If you're open to feedback about this, it sounds like you're creating an undemanding social life for the immediate future, which sounds great.
Solitude is really, really bad for your health, though. The health effects of isolation are equivalent to smoking 18 cigarettes a day.
 
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DrScream

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If you're open to feedback about this, it sounds like you're creating an undemanding social life for the immediate future, which sounds great.
Solitude is really, really bad for your health, though. The health effects of isolation is equivalent to smoking 18 cigarettes a day.
I've noticed the negative effects that being isolated has had on my own life and I'm working on that area of my life. I had cut out a lot of people because I don't really want to be associated with people who aren't doing anything with their lives. I prefer the solitude to the life I was living before.

The next step is to make friends in areas that I actually enjoy which I'm starting to do little by little. The past few months have been hard because I got rid of my car to cut back on expenses so visiting the few people I do still associate with has been tough. It's just a bump in the road though so I'm not really worried about it. I think of it as sculpting a new life that I actually want to live.

Thanks for your concerns. I hope to get my life in order eventually but I'm done freaking out about not having all the pieces together and am just going to take it one day at a time.
 

Bertram

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I've noticed the negative effects that being isolated has had on my own life and I'm working on that area of my life. I had cut out a lot of people because I don't really want to be associated with people who aren't doing anything with their lives. I prefer the solitude to the life I was living before.

The next step is to make friends in areas that I actually enjoy which I'm starting to do little by little. The past few months have been hard because I got rid of my car to cut back on expenses so visiting the few people I do still associate with has been tough. It's just a bump in the road though so I'm not really worried about it. I think of it as sculpting a new life that I actually want to live.

Thanks for your concerns. I hope to get my life in order eventually but I'm done freaking out about not having all the pieces together and am just going to take it one day at a time.
Hey I forgot to tell you, I looked at one of your films - not the vlogs - and I did a double-take. I thought the cinematography was stunning and you inspired my creativity. If I can give you feedback on your content I'd just add that you have such a gift with aesthetics, you really do, your visual narrative exists and tells a real story, and the soundtracks are impeccable. So could you tell a story that's out there in the world rather than the trendy dissatisfied young male self-focused story that almost everyone knows how to do? Skip the autobiography for now, like forty years, and go be Herzog or Wenders or better yet Taika Watiti. You might have everything these film makers have, except when you oblige the trendiness of pointing the camera at yourself. Go find another story, please. I hope you keep me posted on your non-vlog film work.
 
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DrScream

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Hey I forgot to tell you, I looked at one of your films - not the vlogs - and I did a double-take. I thought the cinematography was stunning and you inspired my creativity. If I can give you feedback on your content I'd just add that you have such a gift with aesthetics, you really do, your visual narrative exists and tells a real story, and the soundtracks are impeccable. So could you tell a story that's out there in the world rather than the trendy dissatisfied young male self-focused story that almost everyone knows how to do? Skip the autobiography for now, like forty years, and go be Herzog or Wenders or better yet Taika Watiti. You might have everything these film makers have, except when you oblige the trendiness of pointing the camera at yourself. Go find another story, please. I hope you keep me posted on your non-vlog film work.

Thanks for the kind words of encouragement. I've been trying to figure out a direction for my content on my channel but haven't come to any conclusions as far as the stories I'd like to be telling are concerned. I really just want to say thank you for the compliment as it generally goes unnoticed (and I don't even see myself as that good yet).

I will take those words to heart and try to move away from the young male self-focused content you mention as I see every young guy doing it. I've had a few people mention they don't really care for the content I'm creating (in all honesty I don't either), but I'm just practicing my videography skills and the crafting of a story.

I actually met a kid who's 20 years old and is writing an autobiography (I shit you not) because he wants to "teach the kids of the next generation about his struggles." I love the ambition in the kid but I honestly doubt anyone would be buying an autobiography from a kid that young.

You're really cool to be so upfront. Too many people are 'yes men' and it frustrates the hell out of me. When I ask for feedback I'm looking for what you just did. Not some "oMg iT's gReAt!" when in all actuality it wasn't. Thanks again (y)
 
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Bertram

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Thanks for the kind words of encouragement. I've been trying to figure out a direction for my content on my channel but haven't come to any conclusions as far as the stories I'd like to be telling are concerned. I really just want to say thank you for the compliment as it generally goes unnoticed (and I don't even see myself as that good yet).

I will take those words to heart and try to move away from the young male self-focused content you mention as I see every young guy doing it. I've had a few people mention they don't really care for the content I'm creating (in all honesty I don't either), but I'm just practicing my videography skills and the crafting of a story.

I actually met a kid who's 20 years old and is writing an autobiography (I shit you not) because he wants to "teach the kids of the next generation about his struggles." I love the ambition in the kid but I honestly doubt anyone would be buying an autobiography from a kid that young.

You're really cool to be so upfront. Too many people are 'yes men' and it frustrates the hell out of me. When I ask for feedback I'm looking for what you just did. Not some "oMg iT's gReAt!" when in all actuality it wasn't. Thanks again (y)
There is no need to identify your body of work right now. Just collect a few elements to use a few times. That could be a genre or a theme or an issue or kind of relationship, for example, that you would use to develop your storytelling.
I wouldn't try to create a brand at the moment. Just have fun with this rare, light-handed seriousness which you can pull off.
Whose films do you like?
Are there film endings or film climaxes you want to argue with?
That's a simple practice to find an idea.
You can find ideas for film easily by thinking of five films you really were affected by and whose story you would actually continue on a different register of reality.
And that can generate a new film.
I'm glad you're going to abandon the vlogs. Twenty years ago, fifty years ago, no one was trying to become a film maker exclusively by ad-libbing into a camera. That's starving oneself of inspiration.
Film isn't like radio, either. Wordless storytelling is always remarkable and intense.

There's a unique book on film-making that helps directors newly think of storytelling through the lens of a camera and the film-editing process. It's called, "The Five C's of Cinematography," by Joseph Mascelli. It's a classic.

 
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DrScream

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It's called, "The Five C's of Cinematography," by Joseph Mascelli.

Purchasing it right now. Super helpful tips!

You've introduced me to some nice film makers. Going to watch some of their works for inspiration. I honestly haven't seen many others works. I know YouTubers that have inspired my own creativity like Sam Kolder, JR Alli, & Peter McKinnon. I'm going to watch some old-timers as I'm sure that's where my idols got their own inspiration.
 

PlateauCoach

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If I would offer you 10K US$ to test one of your products/marketideas within a week and find at least one customer to sell the product and close a sale... would you do it?
 
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Tubs

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As for coming up with an idea you should start with the end goal in mind.
For example I'm going the e-commerce route with my current venture because it can be easily automated down the road.
You should then choose your niche based off a few factors like demand, profit margins on what you sell, and competition in the space. As for coming up with an idea for the niche you should just search around and find various products that fulfill needs. It was honestly the hardest part for me. But you've just gotta train your brain to make connections. Look up different hobbies and see what value your store could provide in the niche.

Do your competitors have confusing sites? Make a clean and easy to use one!

Do your competitors have bad customer service? Have great customer service!

Do your competitors have bad return policies? Have very liberal return policies!

There's plenty of oppertunity out there, you've just gotta find it.
 

NursingTn

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The life of an entrepreneur doesn't have to be one of isolation. You can still be friends with others.

The difference between you and them will simply be the way ya'll make a living.

It also sounds like you are struggling finding your niche, or your business idea. Here are some ideas to help you find your niche:

1) Value Skew

If there is competition now, then what can you do differently to stand out from them?

For example, you are interested in starting a lawn care business. How are the lawn care companies in your area providing their service? What are some good things about them? What are some bad things about them?

When you value skew, you simply try to be better than the competition. If they're good at mowing lawns, but never show up to give quotes or mow lawns on time, then maybe that's all you'd need to stand out among the lawn care companies for customers.

2) Trace the Source and Help Along the Way

If you consider lawn care companies, you can trace the source that makes the lawn care companies successful.

For example, having reliable equipment helps lawn care companies provide their service. Maybe you can focus on marketing for companies that are selling these equipment. Or maybe you can produce your own lawn care equipment that's better than what's out there.

Another example is the workers. Without workers, you cannot have a lawn care company. Maybe you can focus recruiting employees for lawn care companies. Or promoting the health of current lawn care employees via healthcare services, e.g. diet, mental health, physical exam, etc.

Yet again, another example is the business side of lawn care. Maybe you can help provide bookkeeping, ensuring they are in legal compliance, being their registered agent for their legal documents to get sent to, providing clerk assistance such as scheduling jobs, etc.

Holy damn, another example is the customers themselves of lawn care companies. Maybe you can start an agency that helps promote customer satisfaction and retention for lawn care companies, marketing to entice prospective customers to go for lawn care companies, etc.

The name of the game with this technique is to consider: What needs to happen to make a company successful? How can I help along the way?

3) Consider Problems to be Only Solvable by a Company

You have problems. I have problems. We all have problems unless you're a saint or monk that practices contentment.

Take note of these problems. Then consider what kind of companies need to be made into a reality to solve the problems.

For example, I am sitting on a couch watching rain drizzles. I think this is a problem because the rain + humidity feel weird on my skin whenever I am outside.

What companies can solve this problem? Perhaps a company that makes umbrellas to shield me from the rain? A company that creates a lotion or ointment that I can put on my skin to reduce the impact of humidity on me? A company that provides an on demand staff of people that can follow me around to keep me chill, away from the humidity, and shield me from the rain?

4) CENTS

Our good friend, CENTS. The Holy Grail for us at TFLF.

Control - Entry - Need - Time - Scale

Need is first and foremost. You come up with a solution to the need. Then you use the other four tenets to help you deliver the solution in a way that brings in excellent income.

Let us consider lawn care company again. There is a need: People need their lawns taken care of for a myriad of reason, e.g. HOA, home appraisal value, feeling proud of their home appearance, whatever.

The solution? Get their lawns mowed. There is our need. The four tenets?

Control - who will determine if I am successful? Myself, the lawn care equipment manufacturer/supplier/distributor, business legal issues such as making sure all taxes are paid for, etc... you can only focus on what you can control with what you have. I doubt you're going to make your own lawn care equipment. But I'm sure you can find the current best beginner, intermediate, and expert lawn care equipment with some research beforehand, and get your hand on the equipment through renting, buying used, or getting new, etc.

Entry - practically everyone can start a lawn care company. But that is why you value skew. MJ talks about this in his books in relation to entry. Not every lawn care founder and company itself can:

1. speak English
2. shown time consistently
3. answer calls quickly
4. Find ways to keep customers satisfied with any subpar experience
5. Give reason for customers to keep coming back (e.g. oh, you're not only a lawn care company? You also have your own little entertainment division where we can take our families to have fun on a weekend?)
6. Provide a premium experience such as "you get the best lawn care equipment and workers to mow your lawn and make it look so nice that people will be envious"
7. Provide a reasonable cost depending on audience socioeconomic status

You get the gist of value skew. You can take take one, some, or all of these ideas to make your lawn care company different and better than current lawn care companies in your area.

Time - we all want to be able to get paid without feeling like we HAVE to work, but WANT to work... So you have some options:

1. you make a business that is enjoyable for you yet serves a real need, e.g. lots of people enjoy caring for dogs, so they start dog day care and enjoy the process.
2. You make a business that you couldn't care less about, but at least you don't hate..
3. You start a business that you don't have the skills for, so you outsource everything, e.g. find lawn care contractors and tell them they get paid per lawn care

Whatever you decide to do, don't start a business that you know you can't do daily because you HATE it... For example, if you are a burn out lawyer, do you think youll be successful in any venture requiring your expertise? Highly unlikely since you'll self-sabotage yourself along the way unless you are no longer burned out.

Scale - your goal is to provide the solution that either a small group can pay big bucks for or a large group that can pay the small bucks for... E.g. if you mow lawns for the wealthy and get paid 200 bucks per lawn care, then you only need to mow 5000 lawns to make a million bucks gross revenue. That's 96 lawn care sessions per week if you want to make the million in a year. So you provide lawn care for 200 bucks a session for 96 wealthy folks.

Or... You can undercut everyone and sell your service for, say, 25 bucks a session. You would need 40,000 lawn care sessions to make a million. That's roughly 770 lawn care sessions weekly to make a million in one year. So you need to mow 770 lawns somehow...

Regardless if you target the few with big pockets or the mass with small pockets, the only reliable way to get F U money is scale...

Hope this helps you. I'm a freelancer marketing for a clinic and flipping items online on the side. Both are tough work. I get no consistent income, no "traditional" benefits like health insurance, etc by being an entrepreneur. But at least I am my own boss per se... I am in control of my own destiny with the cards dealt to me on a daily basis. I can tell you that the reality to make a successful company (I want to make a successful marketing agency or an e commerce store) is hard work.

Just start on any idea you have in mind, and make the most basic functional version of it to see if people will pay. Bootstrap.

Think Kickstarter for products. They don't need the actual products to verify demand; people gladly throw money at you if they understand your new invention idea.

If you're in the service agency, bootstrap. Pretend you got no more than 100 in your bank for any venture. If I were to start my own service company, say, power washing I'll market my service first.

"Hey, I help home owners looking to sell their homes by making their drive ways look nice with power washing". That's my niche. I'll let people know wherever my prospective customers hang out at: their homes, HOA meetings, talking to realtors, banks who don't want to lose too much money from having to foreclose a property, etc. How I let them know can be in person, business cards, flyer, online website, whatever.

I'll do the marketing that would reach my prospective customers the fastest: talking to realtors since they know people actively selling their homes. I'll literally show up at realtor places, and say, "hi, I want to help realtors sell their clients homes by making their drive ways look nice with power washing. Would you know anybody that needs a reliable person for power washing homes?"

Then go from there.
 

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