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Hi there!!
This is the first post from an account dating back to 2015.
I am not going to lie... I illegally downloaded MJ's book in 2012. All good now, a few years later I bought two copies and just recently I bought both audiobooks for TFLM and Unscripted .
This is a short introduction of where I come from:
I can't wait to get started, but this new job opportunity might make my fastlane venture x10 more successful. I would be able to learn hands-on THE trend in my industry, which my current company does not offer.
I will post later a separate thread on these 3 expanding more and asking for advice. In a nuthsell these is what it is all about:
Business A and C are in my "niche", and no one has a clue on how to do great marketing there. That's good and bad, because it is hard to get them at full speed while I work my full time job without raising concerns. I definitely can start building a mailing list and putting out great content.
I know for certain that business A, done right, will succeed. And business C with good targeted marketing will easily break even within the first 6 months if it all goes terribly wrong.
Business B is totally unrelated to my field, which makes it easy to combine with my full-time job. However,it is the one that requires the highest up-front investment (~5k?) and I have the least certainty that it will succeed. It also requires development of a product and probably a distribution network if we need it to scale (not my expertise).
Now this is my question, how would you go about this? How would you distribute the time in 2018 if you were in my situation?
FYI, my "niche" for A and C is an industry valued at ~5billion, with a year on year growth of ~20%. So there's definitely room to make money.
Sorry for the brick, but writing things down helped me clear my head! (even though my writing skills are nowhere close to the average of this forum!!! some posts are real masterpieces)
I am looking forward to being more active and eventually contributing with great tips from my own successes/failures
I also hope I haven't broken any of the forum's rules with my first posts, I know you guys are strict!
This is the first post from an account dating back to 2015.
I am not going to lie... I illegally downloaded MJ's book in 2012. All good now, a few years later I bought two copies and just recently I bought both audiobooks for TFLM and Unscripted .
This is a short introduction of where I come from:
At home we always struggled with money, we were not poor but we could not afford much.
I studied engineering at university and read a lot on business/marketing on my own.
Started several authority websites on my hobby during my school, barely managed to monetize.
I moved to another EU country to finish my studies and get a job (I come from southern EU).
I decided to get a job because I could not start a business in my country and I had no capital to do so anyway.
Through my job I have learnt my industry and found several market opportunities.
Switched jobs and specialised even more in my discipline, maybe there's 10-20 experts with my blend of skills in EU (almost none of them going at it alone).
On the side I have started a related hustle, it covers most of my monthly expenses and requires ~10h/week of my time.
In the meantime I saved almost 6 figures in cash, which should give me a buffer to start my independent journey.
I did that by living very frugally in a student-house (I still do, at 25yo).
Currently, I have been offered a new job in my field that I might take to broaden my skills and build a better track-record.
I also have 3 solid business ideas (out of ~20 potential hustles). I think business A has high fastlane potential (5/5 commandments), B has decent fasltane potential (3.5/5) and C offers little fastlane potential (2.5/5).
I studied engineering at university and read a lot on business/marketing on my own.
Started several authority websites on my hobby during my school, barely managed to monetize.
I moved to another EU country to finish my studies and get a job (I come from southern EU).
I decided to get a job because I could not start a business in my country and I had no capital to do so anyway.
Through my job I have learnt my industry and found several market opportunities.
Switched jobs and specialised even more in my discipline, maybe there's 10-20 experts with my blend of skills in EU (almost none of them going at it alone).
On the side I have started a related hustle, it covers most of my monthly expenses and requires ~10h/week of my time.
In the meantime I saved almost 6 figures in cash, which should give me a buffer to start my independent journey.
I did that by living very frugally in a student-house (I still do, at 25yo).
Currently, I have been offered a new job in my field that I might take to broaden my skills and build a better track-record.
I also have 3 solid business ideas (out of ~20 potential hustles). I think business A has high fastlane potential (5/5 commandments), B has decent fasltane potential (3.5/5) and C offers little fastlane potential (2.5/5).
I can't wait to get started, but this new job opportunity might make my fastlane venture x10 more successful. I would be able to learn hands-on THE trend in my industry, which my current company does not offer.
I will post later a separate thread on these 3 expanding more and asking for advice. In a nuthsell these is what it is all about:
Business A: Productized consulting of a technology that could have a 70% adoption rate across manufacturing businesses but it's down at 30% because of lack of training/education. (business model very similar to www.strategyzer.com).
The demand for this is in the thousands and the pricing in the high-hundreds to thousands.
I need at least 6 months full time to build a platform strategy with an attractive offering.
Business B: A modification of a current product and re-purpose it's use in a new market, related to injury recovery. The item is extremely simple and probably can be manufactured for under 10$. I would sell a digital recovery guide and upsell the recovery tool.
The demand for it is in the thousands and the average sale would be around the 40$.
I need about 3-4 months to go to market.
Business C: Is a reseller type of business where I would put a portfolio of products together and offer a slightly different proposition than other online competitors: a selected high-quality choice of products, excellent service and possibility for monthly bulk orders.
The demand for it is in the thousands and the average sale would be around the hundred.
I need about 1-2 months to go to market.
The demand for this is in the thousands and the pricing in the high-hundreds to thousands.
I need at least 6 months full time to build a platform strategy with an attractive offering.
Business B: A modification of a current product and re-purpose it's use in a new market, related to injury recovery. The item is extremely simple and probably can be manufactured for under 10$. I would sell a digital recovery guide and upsell the recovery tool.
The demand for it is in the thousands and the average sale would be around the 40$.
I need about 3-4 months to go to market.
Business C: Is a reseller type of business where I would put a portfolio of products together and offer a slightly different proposition than other online competitors: a selected high-quality choice of products, excellent service and possibility for monthly bulk orders.
The demand for it is in the thousands and the average sale would be around the hundred.
I need about 1-2 months to go to market.
Business A and C are in my "niche", and no one has a clue on how to do great marketing there. That's good and bad, because it is hard to get them at full speed while I work my full time job without raising concerns. I definitely can start building a mailing list and putting out great content.
I know for certain that business A, done right, will succeed. And business C with good targeted marketing will easily break even within the first 6 months if it all goes terribly wrong.
Business B is totally unrelated to my field, which makes it easy to combine with my full-time job. However,it is the one that requires the highest up-front investment (~5k?) and I have the least certainty that it will succeed. It also requires development of a product and probably a distribution network if we need it to scale (not my expertise).
Now this is my question, how would you go about this? How would you distribute the time in 2018 if you were in my situation?
FYI, my "niche" for A and C is an industry valued at ~5billion, with a year on year growth of ~20%. So there's definitely room to make money.
Sorry for the brick, but writing things down helped me clear my head! (even though my writing skills are nowhere close to the average of this forum!!! some posts are real masterpieces)
I am looking forward to being more active and eventually contributing with great tips from my own successes/failures
I also hope I haven't broken any of the forum's rules with my first posts, I know you guys are strict!
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