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Idea threads

Please read the OP from the TL;DR — Choose 2 businesses that make the most CENTS. Thx.


  • Total voters
    24
  • Poll closed .

Dave Daily

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Table business (soon to be named) and VectorVictory.com are neck and neck. Who wants to break the tie?
 
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Jello

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How about both?

Vectorvictory.com is easier to setup as where the table business requires more work, networking and research.

Start with vectorvictory.com but adjust the idea towards less loose ends. Execute it following a plan that, when it is up and running after a certain timeperiod, it doesn't require your attention every day or at least the whole day. Maybe automate it or have someone else managing it.

In the meantime do research and networking for your table business. But follow through!

Be aware that I don't have any idea how time-consuming both things are and if you have the energy and are capable of dividing your focus on both things.
 

Dave Daily

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How about both?

Vectorvictory.com is easier to setup as where the table business requires more work, networking and research.

Start with vectorvictory.com but adjust the idea towards less loose ends. Execute it following a plan that, when it is up and running after a certain timeperiod, it doesn't require your attention every day or at least the whole day. Maybe automate it or have someone else managing it.

In the meantime do research and networking for your table business. But follow through!

Be aware that I don't have any idea how time-consuming both things are and if you have the energy and are capable of dividing your focus on both things.

Thanks for commenting and I hear ya. It would be great to be able to do both, but I agree with MJ about monogamy for your first business. I think I’ll need to be hyper-focused on one endeavor so that my conscious and subconscious minds are always working on one thing. I need all the help I can get. LOL.
 

Real Deal Denver

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Yeah, it will take a while to get up to 1000. That's 20 tables per week. We'd need to have some systems in place, but I think we could get there within a year, i.e. getting to 20 sales per week by the 53rd week.

I remember the couple that came to buy the table from us for $450. They didn't blink an eye. And we had a lot of other people interested. I was really surprised by the demand. Then we got the custom job for a kitchen nook. The table was really small, only 3 feet long with two benches—one L bench and one straight bench. Here's a pic that the customer took the night after we delivered it to her house:

View attachment 18349
I'd like to keep it to just tables, rather than lots of custom jobs.

Stunning picture. The word table alone does not do this justice.

The first things that comes to mind are: enclave. Retreat. Nook. Dining set. These say so much more than just table. Maybe combine them - retreat in style and comfort to your private enclave and savor the moments... Ah yes, now that describes what I'm seeing so much more!

Once you have the kinks worked out, I think you could sell as many as you wanted to, if you partnered with retail outlets.

Being hand made and stylish as this is, I wouldn't have thought twice about buying it either! Style and craftsmanship are in short supply - keep up the good work!
 
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JasonR

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Honestly, I like the apartment route, but not the App thing you mentioned.

1) You can do deals that have large MAGNITUDE in RE especially if you have capital or access to capital (Read @SteveO Posts)

2) I think there's a lot of opportunity for SaaS businesses in the RE Space.

I'm not sure how much of a marketing background you have, but I would do another analysis on how you plan on getting customers for each opportunity you mention as they are vastly different from each other.
 

Dave Daily

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Stunning picture. The word table alone does not do this justice.

The first things that comes to mind are: enclave. Retreat. Nook. Dining set. These say so much more than just table. Maybe combine them - retreat in style and comfort to your private enclave and savor the moments... Ah yes, now that describes what I'm seeing so much more!

Wow! Are you a copywriter? You paint some good word pictures! :) Although I'd like to keep the offering to custom tables, it wouldn't hurt to couch the sales copy in terms of enclave, retreat, etc.

Thanks!
 

Dave Daily

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Honestly, I like the apartment route, but not the App thing you mentioned.

1) You can do deals that have large MAGNITUDE in RE especially if you have capital or access to capital (Read @SteveO Posts)

2) I think there's a lot of opportunity for SaaS businesses in the RE Space.

I'm not sure how much of a marketing background you have, but I would do another analysis on how you plan on getting customers for each opportunity you mention as they are vastly different from each other.

You know I tend to agree with you. The reason I made this poll is because I vacillated between business ideas. Apartment investing has a lot of pull for me. Housing is a perennial need. I am a bit confused about your comment about do doing the app thing when you then suggest that there's a lot of opportunity in SaaS for real estate. My app idea is SaaS for Apartment investing. Perhaps you thought the concept was weak. Thanks.
 

garyfritz

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There is already a company doing design for $370 per month—Design Pickle, so the differentiator I'm offering is not design but vector art and logo design, the things Design Pickle explicitly said they wouldn't do.
Would it make sense to partner up with Design Pickle? "You're missing out on customers that might need your design services, just because you can't deliver in their preferred vector format. Meanwhile I'm not that great at design. We each have a big hole in our offering that the other can fix. So you keep marketing and send the vector business to me, I'll keep marketing and send the design business to you, and we'll both benefit."

Lots of details to hammer out for pricing, revenue sharing, etc, but it might make your vector business more viable.
 
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Dave Daily

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Would it make sense to partner up with Design Pickle? "You're missing out on customers that might need your design services, just because you can't deliver in their preferred vector format. Meanwhile I'm not that great at design. We each have a big hole in our offering that the other can fix. So you keep marketing and send the vector business to me, I'll keep marketing and send the design business to you, and we'll both benefit."

Lots of details to hammer out for pricing, revenue sharing, etc, but it might make your vector business more viable.
Yes! I thought about that. That's a great idea. We could refer back and forth. I'd need to build something worthy of getting their attention first, at least that's my assumption. Thanks for jumping on the thread. Did you vote on the poll? If you have, thanks, if not, I'd be indebted to you.
 

garyfritz

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Thanks for the $ !

I hadn't voted, but here's some feedback:

* DrinkSteve: I agree with @RealDealDenver -- take that one behind the shed and shoot it.

* WFPBase.com: As MJ said, there is definitely a market there. But I don't understand what your offering is. Food products? Education?

* Tabl.com: With @AgainstAllOdds' excellent suggestions, I think this has a lot of potential.

* VectorVictory seems like it has the best potential for scale, if you can develop the market.
 

inputchip

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What's the market size like for a service like this? I just can't see many people/companies paying that kind of money for a monthly subscription, and anyone that is interested is likely already on board with Design Pickle. Additionally, the companies that need this kind of service typically have their own in house graphic designers and marketers. I don't think the value skew you proposed will be enough to steal clients from Design Pickle, but you must TEST the market. No one here can tell you the market-mind.

How about unlimited graphics design AND marketing/copywriting? That's something I would pay for.

AptOffers.com
I like it. You could even pre-sell a solution like this to avoid startup costs. This will give you idea validation as well as capital to hire a dev team (assuming you don't program yourself).

LaunchShit.com
I don't really see the value proposition/skew here compared to other similar platforms. This one requires building a community, which will take years and likely requires authority.

Cool idea, but I see all sorts of issues with security. Voice activated access to your bank accounts sounds risky, and may be impossible to get banks on board.

FaceValue.store
What's the value proposition here? What are you selling, a good time?

Good To Go
I think this one has a high probability of success when combined with your Good to Go idea. I would be a customer for sure.

DrinkSteve.com
Not sure what the value proposition is on this. If i'm buying a drink, I want it to be a tasty or have nutritional benefits, I could care less if it was named after a comedian.

Hygenie.club
Seems like a OK idea. I'm betting there's someone trying to do this already. I don't see subscription boxes lasting long term as services like Amazon will dominate the space. I want my specific combination of products, I don't want change or any surprises.

Tabl.store
Has some potential. People love buying into locally made furniture, I've seen it first hand. Issues with this will be scale.
 
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Dave Daily

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Thanks @inputchip. I appreciate you taking the time to comment.

What's the market size like for a service like this? I just can't see many people/companies paying that kind of money for a monthly subscription, and anyone that is interested is likely already on board with Design Pickle. Additionally, the companies that need this kind of service typically have their own in house graphic designers and marketers. I don't think the value skew you proposed will be enough to steal clients from Design Pickle, but you must TEST the market. No one here can tell you the market-mind.

How about unlimited graphics design AND marketing/copywriting? That's something I would pay for.

I like the value add of adding marketing and copywriting. That's a lot of goodies.

As far as the market size goes, I don't have a number, but it's pretty huge. It's more or less any company which regularly uses vector graphics for both print and digital media. It's in the millions. I should put a number on it thought. Last I checked, Design Pickle had 2700 clients and at $370 per, that's a million in revenue.


Referring to Aptoffer.com, you said:
I like it. You could even pre-sell a solution like this to avoid startup costs. This will give you idea validation as well as capital to hire a dev team (assuming you don't program yourself).

Do you have any good resources which discuss ideas on pre-selling. Is this just setting up a landing page with photoshop mockups of the interface and then asking for orders?

Referring to WFPbase.com and Good to Go, you said:
I think this one has a high probability of success when combined with your Good to Go idea. I would be a customer for sure.
This one grows on me more and more. Today, I thought I could just do this as a lunch delivery service to start. Create a menu, give some out to some of the larger organizations in town and offer to feed 100 people free one day in exchange for feedback. Then later, when I have the revenue, I could move into a taco truck AND the delivery service. Then on to more trucks.

Then...

I wonder if it would be possible to build a tiny home like a Dutch Bros Coffee so people could drive through on either side? Then onto bigger buildings later with either a franchise model or just open new locations. What do you think about that?

Referring to Table.store you said:
Has some potential. People love buying into locally made furniture, I've seen it first hand. Issues with this will be scale.
This is the one that is most likely going to happen first, partly because of the feedback I've received, but also because I can involve my son. I'm motivated to be a good example and to help him learn along with me. It would be a dream to sell this thing for $5MM or so in 5 years and set him up by the time he's 20 or 21.

Thanks again @inputchip
 

Real Deal Denver

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Speaking of genius teachers that broke free and became wildly successful...

(I'm looking at you Dave)

Stephen King was a "lowly" English teacher before he decided to become a writer.

J.K. Rowling, although not a teacher, was on welfare when she finished her first Harry Potter book. She also had applied to Oxford University at one time, but was turned down. She is the most successful author ever, in the entire world. I often wonder what she would have become if things went her way and she did not have so much difficulty in life...
 

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I would not sell benches without getting professional legal advice. There's only a few makers of ladders in the world because people suck and they are stupid. One 400-pound Jimbo hurting his back when your bench collapses would be a nightmare.
 
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Argue

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VectorVictory.com has the best potential. This service is in high demand. Subscription service is the way to go.

Personally, I dislike designpickle a lot. Some of their design work is bad and lazy, in my opinion. They shine in advertising though. I see them on youtube all the time.

Analyze the mistakes they're making. Analyze the bad reviews. Improve where they fail and you have a winner. If you can execute well, the rest is history.
;)
 
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Dave Daily

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Speaking of genius teachers that broke free and became wildly successful...

(I'm looking at you Dave)

Stephen King was a "lowly" English teacher before he decided to become a writer.

J.K. Rowling, although not a teacher, was on welfare when she finished her first Harry Potter book. She also had applied to Oxford University at one time, but was turned down. She is the most successful author ever, in the entire world. I often wonder what she would have become if things went her way and she did not have so much difficulty in life...

Haha! I'd be in great company.
 

Dave Daily

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I would not sell benches without getting professional legal advice. There's only a few makers of ladders in the world because people suck and they are stupid. One 400-pound Jimbo hurting his back when your bench collapses would be a nightmare.
Hmmm. Something to think about. That's a bit scary.
 
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Dave Daily

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VectorVictory.com has the best potential. This service is in high demand. Subscription service is the way to go.

Personally, I dislike designpickle a lot. Some of their design work is bad and lazy, in my opinion. They shine in advertising though. I see them on youtube all the time.

Analyze the mistakes they're making. Analyze the bad reviews. Improve where they fail and you have a winner. If you can execute well, the rest is history.
;)

Thanks! I haven't seen a lot of Design Pickle's design. I need to dig a bit deeper there, but I was a bit underwhelmed by the design of their website. It's not quite finished. However, assuming they're telling the truth, they're saying that they have 2700 active clients. That's quite good.

I appreciate the advice and the vote. +Rep
 
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Argue

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Thanks! I haven't seen a lot of Design Pickle's design. I need to dig a bit deeper there, but I was a bit underwhelmed by the design of their website. It's not quite finished. However, assuming they're telling the truth, they're saying that they have 2700 active clients. That's quite good.

I appreciate the advice and the vote. +Ref
Thanks for the reps Hugh!

Read this article HERE. You're gonna like it. It's inspiring.
;)

edit* you may have read this article already lol.
 
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Real Deal Denver

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Thanks for the reps Hugh!

Read this article HERE. You're gonna like it. It's inspiring.
;)

edit* you may have read this article already lol.

One of the best articles I have read in eons.

I like the details. And the honesty. Most books are just too generic to be helpful.

Not this article. This could be a blue-print for Dave to follow almost to a T.

Thanks for posting this. So much rubbish on the internet - and then every now and then something valuable surfaces. This is one of those times.

EDIT - I signed up with my email address to get more info sent to me, and BOOM, taken to a plethora of articles that are all necessary reading. It's gonna take a while, but this is current and relevant inside information. Gold mine!
 
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itsemdub

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@Hugh Nivers
Congrats on taking the first steps towards something awesome. Your posivity shows through in your posts and I think that’s awesome. VectoryVictory will be my vote. It seems like design pickle has done a lot of heavy lifting in terms of deciding if there is a market for subscription/contract design services. The comment about possibly partnering and an exchange of work/clients is golden.
As a commercial re broker who has worked on only MF and retail, I don’t think the apt idea has legs. The main issues being the proforma and one page sales/OM type concept (no better word for it lol). I think these are both issues because how do you set the templates or determine what metrics are included in both? I’ve seen basic back of napkin proformas and full 10 year Argus runs. Everyone/each entity evaluates properties differently. Coupled with certain markets using cap rate, grm or price per door, etc as a metric for the value add portion of the purchase. How do you price this variety and what segment of the market are you going after? The value add market is extremely saturated...when I have people call on my listings or tell me that they’re value add Buyers looking right now, I immediately peg them as unsophisticated/not real. Most importantly, as a former M&M guy I’m sure you had somebody on staff who pumped these kind of things out on the regular. I think all of the large guys (CB, M&M, Colliers) are moving towards proprietary type solutions for these types of scenarios, in which they’re offering them to clients in the hopes of getting deals done. In my market I’m starting to see development + spin proformas being done by the brokerage houses for their smaller development clients. And there is a group doing Argus runs for mid to larger Buyers...I’ll see if I can find a link. Best of luck, I’ll be watching to see what awesomeness you brew up.
 

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Vectorvictory and AptOffer have my votes. for one thing you have the skills and resources to start vectorvictory immediately. What's more you don not have to wait to get graphic artists on the service first, since you can do designs yourself. The other idea AptOffer also looks good to me, though it might need some more time to take off.
I go with Vectorvictory.
 
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Dave Daily

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@Hugh Nivers
Congrats on taking the first steps towards something awesome. Your posivity shows through in your posts and I think that’s awesome. VectoryVictory will be my vote. It seems like design pickle has done a lot of heavy lifting in terms of deciding if there is a market for subscription/contract design services. The comment about possibly partnering and an exchange of work/clients is golden.
As a commercial re broker who has worked on only MF and retail, I don’t think the apt idea has legs. The main issues being the proforma and one page sales/OM type concept (no better word for it lol). I think these are both issues because how do you set the templates or determine what metrics are included in both? I’ve seen basic back of napkin proformas and full 10 year Argus runs. Everyone/each entity evaluates properties differently. Coupled with certain markets using cap rate, grm or price per door, etc as a metric for the value add portion of the purchase. How do you price this variety and what segment of the market are you going after? The value add market is extremely saturated...when I have people call on my listings or tell me that they’re value add Buyers looking right now, I immediately peg them as unsophisticated/not real. Most importantly, as a former M&M guy I’m sure you had somebody on staff who pumped these kind of things out on the regular. I think all of the large guys (CB, M&M, Colliers) are moving towards proprietary type solutions for these types of scenarios, in which they’re offering them to clients in the hopes of getting deals done. In my market I’m starting to see development + spin proformas being done by the brokerage houses for their smaller development clients. And there is a group doing Argus runs for mid to larger Buyers...I’ll see if I can find a link. Best of luck, I’ll be watching to see what awesomeness you brew up.

Thanks @itsemdub — You're not the first person to encourage me to rethink the real estate idea. I'll come back to it after my first successful fastlane road trip.

VectorVictory.com got a lot of votes in this poll. I'm actually a bit surprised considered the $500 per month subscription fee, but that's what it would take to make it worthwhile. What I'll need to do to sell that is to calculate how much my typical target customer spends on this kind of thing. I bet that's way over $500 per month. Anyway, I wouldn't need everyone. It's a big market and I'd only need a few thousand in the next 3 to 5 years to create a salable asset. Thanks for taking the time to vote and respond.

Cheers,

Dave
 

Dave Daily

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Vectorvictory and AptOffer have my votes. for one thing you have the skills and resources to start vectorvictory immediately. What's more you don not have to wait to get graphic artists on the service first, since you can do designs yourself. The other idea AptOffer also looks good to me, though it might need some more time to take off.
I go with Vectorvictory.

Thanks @Izcescape. Another vote for VectorVictory.com. I've got two days left in the poll, but I'll be making my choice right after that. Expect some photos and videos in this execution thread after I choose my direction. Thanks for the feedback and the vote.

Cheers,

Dave
 
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Dave Daily

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My son Knox and I making a farmhouse table for our place. Yes, we're the table people who don't have a table. :rofl:

It's short, but it's sweeeeeeeet. Not really, but a have a look anyway. It's a slice of table building life when you don't have a shop yet.

 
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Dave Daily

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Two days left in the poll and although the table biz is in second place, I'm leaning in that direction because of the opportunity to build it with my son. That's a huge value for me. Also, knowing that I have some decent ideas waiting in the wings is an incentive to keeping moving on the current venture.

Since this is my progress thread, I'm going to start posting, well, progress. Right now I'm working on getting a sense of the need I'm filling for the billions of people who use tables in their everyday lives and why the tables my son and I will build will be special enough to convince 1000 to 5000 people per year to buy one from us.

As I see it, we're not selling tables, we're selling unity, legacy, family, community, connection. The table has always been a gathering place, a "togethering" space, a special place where people love and create together. Families seem to be struggling these days and the definition of family is changing—which is not necessarily a bad thing. The roots of the trees which give rise to these tables will form the roots of better relationships within the homes and businesses in which they stand.

The people who will sit around our tables will want to solidify their relationships, create togetherness and conversations, and build a legacy. The table will become a generational heirloom piece, transferring the wisdom of the buyer to the next generations.

That's the brand, I think. I'm open to your thoughts on this.

In terms of the words which will ground the brand, I've purchased a few domain names recently. You're already familiar with tabl.store—too dull, doesn't speak to the brand. Then there's toptabl.com. Same problem. There's no soul and it sounds like it's bragging. It's not about the people who would buy and use the table.

These are the newest ideas:
  • ilovethistable.com
  • lovethistable.com
I like these. These are phrases that someone might say when seeing the table, but again, I think the focus is wrong.

Here's the last one I bought:
  • togethertables.com
I think this one rings true to the brand and is easy to remember. It has an alliterative component as well, which I think is good. I'm working on some sketches right now for the logo. Here are a couple, among a batch of others I was doing for some of the other ideas:

IMG_6737.jpeg
view

I'd love to hear your ideas as well. Thx.
 
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inputchip

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Two days left in the poll and although the table biz is in second place, I'm leaning in that direction because of the opportunity to build it with my son
How old is your son? It is likely that he could get involved in any of these business ideas. Don't fall in love with a biz idea for the wrong reasons. "Do you want to be right, or do you want to be rich?"
 

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