The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Is it actually true as MJ claims that starting a business doesn't require much capital?

FauxPas

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Aug 12, 2020
60
77
115
19
Virginia, United States
@FauxPas, is there a specific business opportunity you are pursuing where you perceive the need for start-up capital to be an obstacle? If you can describe your situation in general terms (no need for revealing details), I am sure there are lots of people on this forum who would be happy to make suggestions.

In your original post, you mentioned that (I paraphrase) you did not believe a manufacturing company could be easily bootstrapped. I run a business that manufactures a physical product. In order to bring the product to market, the business had to invest $140k in tooling for injection moulded plastic parts.

We did not have $140k, so we spent a much smaller amount of money (perhaps $2k) to have prototypes 3D printed and ran a crowdfunding campaign, which brought in the capital required to pay for the tools. The successful crowdfunding campaign also provided some credibility which I leveraged to raise $800k in angel investment.

I will not pretend this was easy - but it was possible. The crowdfunding campaign brought in enough capital to pay for the tooling but not enough to pay for the products the campaign backers had ordered (or the many other costs we needed to cover). Raising investment was a close call - on the day I closed the angel round, we were five days away from being totally out of cash and defaulting on some payments (and I had already done a lot of work to delay our payment obligations).

Some businesses are certainly easier to start than others in terms of the capital required. However, obtaining capital is just one of many challenges you may need to overcome in order to build a business. I do not think the MFL is misleading in this regard and frankly, I don't think it's reasonable to expect MJ to lay out al the details for you. The replies in this thread alone detail the very different steps that are required depending on the context. I believe that the MFL provides a great framework for approaching business creation but it is not (nor is it presented as) a guide to starting any specific business.

To echo the point made by @Kak, this is an issue of mindset. If one believes that obtaining capital is an impossible obstacle to starting a business, it almost certainly will be.

If you want to talk about the details of raising capital for a specific opportunity - let's do it.

It's just at this stage of my life, I don't feel ready yet to take on the full leap of entrepreneurship. I'm 19 trying to establish my financial self-sufficiency and figure my life out so that I no longer have to live with my parents anymore. Because I know that I can't live in my parents house forever and try to achieve the fastlane at the same time, it's not going to work and neither is something I would like to do either. So then I was like

"Ok well the clock is ticking and I want to be moved out of my parents house by 2022, I need to gain some valuable skills fast so that I can leave my parent's house and begin my adult life. I don't want to go to college because it's just very expensive as f*ck and is very time consuming. I don't want to spend too long in post-secondary schooling as I want to get started with the fastlane shit as soon as possible."

But then I come across the problem of the difficult job market of Virginia. The people that make a true living wage in this state are mainly military, government working people, and business owner/managers. A lot of jobs pay a shit wage as the median salary here is $70,000 which is not as bad as some other states like California and New York but that's still pretty difficult nonetheless. So then I'm like

"Ok great... I would either have to get into debt to get a college degree to get a decent paying job, study a trade (Not for me), or move to a different state with a better job market and not as high of a cost of living (Except I'm afraid to just move to somewhere I've never been to, especially when I have never lived on my own before.)"

If it's already hard enough to get a decent paying job (Given how even if you have the credentials, they still require that you have experience even if it's an entry-level job, which is absolute bullshit (but I digress). So it's a f*cking shit hole process to get a decent paying job. With that in mind, if I do happen to get an entry level job with the credentials matching it I would be forced to stick with that job for a couple of years so that I can have the experience to get re-employed if I were to quit my job for entrepreneurship and then fail at it. And I'm naturally risk-adversed. I do not like to making decisions without calculating the risks and consequences that come with it. I cannot simply do what MJ did and just go to a different state with the $5200 I have and expect to just magically make it like that. I'm not at all saying that MJ was lucky to have been able to support himself when he did that, however, just imagined what could've happened had he failed to figure out how to support himself, he would have either ended up homeless or have to move back to his mom's house. And the thing is, not everyone has the luxury (And yes I say luxury because your parent(s)/guardian(s) are no longer legally obligated to support you once you become of legal age) to have someone to stay with incase you lose your ability to support yourself financially, so MJ took a big gamble that paid off for him wonderfully. However not everyone is good at thinking on their feet like that, and taking risks like that could be more detrimental than beneficial (Basically the survivor bias that he's talked about before in his books is basically what I'm saying here). It would be like having a college student drop out of college and go start a company to only fail at it miserably to only end up with debt to pay and time wasted. Making you feel like an absolute failure. I do think that taking risks make sense, but only when they're calculated, not blind. And the thing is I don't want to wait too long to get started because I know that the fastlane takes time to happen. So I don't to wait until I'm 25 to get started, because then I won't achieve it until I'm in my thirties or later, which would be very disappointing to me because I would much rather have Wealth at a young age, or never have it period. I want to live the best years of my life in the best way possible, which can only be done when you have wealth. So I would really despise the journey that would have been taken should I achieve but wake up being in my thirties or forties. So while I could just focus on getting just enough so that I don't have to trade my time for money, I would also feel like that I would be settling for less because I know that's not what I REALLY want. I have no shame to say that I want to be as rich as f*ck I as can possibly be in my twenties. And while this does sound like money chasing the truth is, what would be the point of going through all that pain and sarcificie if you weren't doing it for the money? it would make no sense (Unless you already have wealth). It's not a probable to crave for money as long as you don't do unethical things and destroy your life in the process of doing it. Just as long as you have the right mindset and methodology (which I current don't). So right now I have to figure out how the f*ck I'm going to support myself decently before I even think about pursuing the fastlane, and have to accept the reality that I won't be as rich as I'd like to be or wait until half of my life has been pissed away chasing after money. It also doesn't help that I'm very bad with coming up with business ideas... (I've tried to apply the advice that I was given on the forum when I posted a thread on ideas and yet I still cannot find ideas that are easily scalable and bootstrappable) I don't know to be honest... maybe I'm just not smart enough to take on the fastlane and perhaps should live an average life to make things easier myself. Life is already hard as it is. All of this time pressure is making it difficult for me to figure things out in my life because I want to f*cking do the fastlane but face obstacles that prevent me from doing it at this time.
 

sparechange

Platinum Contributor
Speedway Pass
Nov 11, 2016
2,805
4,329
1,020
Canada (Vancouver)
holy wall of text, lol.

You don't need a fancy job, minimum wage is fine, you can be a dishwasher, cook, janitor (that may pay a bit above min wage) security guard or whatever slave position that is available for you. Work that job and save a few hundred bucks a month and use that to fund a business.

I can't speak for the great USA but I know here in Vancouver which afaik is one of the *most* expensive cities in the world, it IS possible to survive on minimum wage and be able to get by feeding yourself and paying rent. I'd imagine the US is significantly cheaper than here. You are just making excuses young man, it's possible to make most people's yearly salary in a month, try to do that instead of focusing on excuses.

It has been done by millions of people around the world

1620158416544.png

Yes I agree, some of those millionaires have had advantages growing up from already having wealthy parents maybe, but there are alot that have started from nothing with MJ being one of the millions that made it. So shutup and get started.

There is a reason people ''fail at life'' and end up being 60 years old at a dead end job.......

F E A R and the inability to risk take, let me paint a picture for you. Imagine MJ didn't have the balls to pull the trigger and move to Arizona, I bet the guy would be sitting somewhere right now in a limo hating his life and getting drunk watching reality tv, just think about it. Fortune favors the bold.
 
Last edited:

sparechange

Platinum Contributor
Speedway Pass
Nov 11, 2016
2,805
4,329
1,020
Canada (Vancouver)
I forget the exact quote, but it's from Felix Dennis one of my favorite entrepreneurs.

''Fear is what separates the financial losers and winners from each other''

Go ride a bus, feel like the loser you are. Then go visit a Lamborghini or Ferrari dealership, sit in one and see how it feels.
 

Prince33

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jun 9, 2020
39
48
107
USA
I feel you as a youngin' myself.
I think the truth lies somewhere between what these guys are telling you and modern circumstances.
Out of all the books, youtubers, courses, info on reddit etc I've looked at, bought, read and more. One step that is always the least covered in making money or starting a business is the start up process.

Hundreds and hundreds of videos on how to learn code, get into IT, learn 3d modeling etc. That's fantastic.
Hundreds and hundreds of videos, books, podcasts and more on how to start a business. That's fantastic.
EVen guides on how to sell armpit pictures and make six figs. Cool.

However, the kind of "dark side" to all this is that it all requires time. Some less, some more. And time is money, AKA capital. Where are you living, what are you doing and how are you maintaining(logistictally and mentally)while all this time is spent learning this stuff?

I was able to try out 3 different online businesses on minimum wage. But I learned I had to sacrifice quality of life to do that immediately with no savings. I was literally homeless with an ecommerce store, then flipping products, then digital items. I don't regret it, it taught me a lot. But now I feel mental toll it had on me and I'm still in the process of getting off the ground. This all takes time and it can be grueling with no support.

The reason most or everyone can't start a business imo is mainly because most people are afraid to go to the abosolute extreme in sacrifices in order to start. 70% of Americans are living paycheck to paycheck. That means atleast 70% of people would need to cut waaaaaay down on expenses or take hella risks. That's hard when you don't have an initial stream of income. Especially nowadays.

Im grateful to even be here amongst the success on this forum. And will continue to push. But when you look deep into most the people even here who made it, very very few of them started from Level 0. Especially prior to 2016.

MJ himself atleast had some capital saved in order to move to AZ and get a spot, this was also what.. the 90s? Early 00s? Myspace wasnt even a thing. And he couldn't have been living rent free building his web design/dev business. It wasnt bringing in income for a while so he had to have some capital/income also he came from college if I remember right.

People like Andy Black are great success stories. But he transitioned into Google Ads and leads science after his corporate job after having something under his belt with consistent income.

Youve got people on here who went fastlane via copywriting and sales. But again, transitioned from something else, not fresh outta mommas house with no certs, education or capital in 2021.

Some people on here started in real estate, but had support systems even if small. A husband, family, median income job. And again, prior to 2016. Most the 00s or before.

Fox is another favorite of mine but if I recall he wasn't 0 capital, 0 education 0 support either. And again, prior to 2016 he started, not post C0VlD.

Bottom line is. Yes anyone can be successful. Especially if you are willing to sacrifice money, time or mental health to get it. But it's much much much harder when you don't have that very first vessel of consistent income to even put gas in the car to get onto the fastlane. Let alone if you actually reach fastlane speeds.

The answer is simple. yes, get capital. Simply save up even 1-3K. That's plenty. But you will most likely will fail your first businesses. And earning a low wage and having to resave up over and over and over takes extra willpower nowadays compared to when MJ started in the 90s, or Andy Black from his corporate job, or someone with a husband to support them or getting a 3K loan after your product hit on the very first try, etc etc. Especially prior to 2016. Let alone post C0VlD.

This is the dark side of the Fastlane. And I'd even argue youre better off getting a slowlane job first then revisiting the fast lane. Very few people are as insane as me, willing to be homeless do test runs on the fastlane. Just as few have the willpower when they are just starting out with a small deck of cards. Or have the courage to risk two months of savings to flip washing machines. Almost everyone here is a weirdo to society on some level, but most transitioned from the scripted system. Don't feel shame for doing the same first. Can always come back.

Yes a lot of bold, smart, hard working people made it here. But besides @Johnny boy very few of them came up during our time with our circumstances. Zillennials/Gen Z have statsitically the worst parents on paper, we have different mental woes, different environments, different problems. It's not the same.

Don't give up, but you don't gotta play on extra ultra hard mode. 'Cause few here even did.
That's my limited outlook on this.
 

Simon Angel

Gold Contributor
Speedway Pass
Apr 24, 2016
510
1,357
427
1. Come up with a decent idea
2. Decide you're going to execute it
3. Establish a relationship with someone who can fund it
4. Present it as a win-win situation for both of you (and especially for them)
5. Take responsibility in executing the plan and negotiate a generous cut for your sponsor
5. Deliver on your promises
 

Johnny boy

Legendary Contributor
EPIC CONTRIBUTOR
Speedway Pass
May 9, 2017
1,370
6,461
1,477
24
Washington State
Yes a lot of bold, smart, hard working people made it here. But besides @Johnny boy very few of them came up during our time with our circumstances. Zillennials/Gen Z have statsitically the worst parents on paper, we have different mental woes, different environments, different problems. It's not the same.

Don't give up, but you don't gotta play on extra ultra hard mode. 'Cause few here even did.
That's my limited outlook on this.

It’s never been easier idk what you’re talking about. Life is on easy mode. There are more
opportunities than ever before. New technology shifts = new needs. You need some cash? Go scrape some gunk off someone’s roof and make $500 in an afternoon. If you’re in America or Europe this shit is easier than playing candyland

if you have mental woes it’s because you watch too many tik toks that tell you “feel bad for yourself, millennials are poor and it’s not their fault, boo hoo depression and anxiety”.

The only difference is sad losers used to just sit alone at the lunch table and shut up, now they infect people with their bad ideas on Instagram.

Got a friend who’s 26 and makes a couple hundred grand a year. Just bought a Ford raptor and owns commercial property downtown.

If you think life is that hard you need to make better friends
 
Last edited:

B.Cotter

Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Apr 23, 2020
58
76
127
Northern VA
Find some boomers that are selling their “un-sexy” business. Talk to them, work in their business alongside them for 6 months to 1 year and buy it afterward with some creative owner financing.
 

Ronak

Gold Contributor
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Sep 13, 2013
532
1,689
496
What are you actually willing to do?
 

Andy Black

Links at AndyBlack.net
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
May 20, 2014
12,494
49,130
4,306
Ireland
I don't get how MJ can say that you don't need much money to start a business when there are literally businesses that absolutely require capital to even get started.
Just because one business requires money to get started doesn't mean you need money to get started in ALL businesses.

Find just one business that can get started without money and you've proved you don't need money to get started.


If you want to get started in business then help/serve/entertain someone and get paid for it. Tada. You're in business.


You don't NEED money.

You don't NEED a website.

You don't NEED a business plan, a marketing strategy, a degree, to be handsome/pretty, to go on a course, to work long hours, etc.

You just need to make a sale. Then keep making sales.


Here's a similar thread about figuring out what you really need:



If you want to start a business that requires capital then you have two choices:
  1. Get the capital.
  2. Start a business that doesn't require capital.

I recommend you start something where you can make a sale this week, and figure it out from there.
 

Kevin88660

Gold Contributor
FASTLANE INSIDER
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
1,616
1,865
552
Singapore
"Ok well the clock is ticking and I want to be moved out of my parents house by 2022, I need to gain some valuable skills fast so that I can leave my parent's house and begin my adult life. I don't want to go to college because it's just very expensive as f*ck and is very time consuming. I don't want to spend too long in post-secondary schooling as I want to get started with the fastlane shit as soon as possible."

But then I come across the problem of the difficult job market of Virginia. The people that make a true living wage in this state are mainly military, government working people, and business owner/managers. A lot of jobs pay a shit wage as the median salary here is $70,000 which is not as bad as some other states like California and New York but that's still pretty difficult nonetheless. So then I'm like

"Ok great... I would either have to get into debt to get a college degree to get a decent paying job, study a trade (Not for me), or move to a different state with a better job market and not as high of a cost of living (Except I'm afraid to just move to somewhere I've never been to, especially when I have never lived on my own before.)"

If it's already hard enough to get a decent paying job (Given how even if you have the credentials, they still require that you have experience even if it's an entry-level job, which is absolute bullshit (but I digress). So it's a f*cking shit hole process to get a decent paying job. With that in mind, if I do happen to get an entry level job with the credentials matching it I would be forced to stick with that job for a couple of years so that I can have the experience to get re-employed if I were to quit my job for entrepreneurship and then fail at it. And I'm naturally risk-adversed. I do not like to making decisions without calculating the risks and consequences that come with it. I cannot simply do what MJ did and just go to a different state with the $5200 I have and expect to just magically make it like that. I'm not at all saying that MJ was lucky to have been able to support himself when he did that, however, just imagined what could've happened had he failed to figure out how to support himself, he would have either ended up homeless or have to move back to his mom's house. And the thing is, not everyone has the luxury (And yes I say luxury because your parent(s)/guardian(s) are no longer legally obligated to support you once you become of legal age) to have someone to stay with incase you lose your ability to support yourself financially, so MJ took a big gamble that paid off for him wonderfully. However not everyone is good at thinking on their feet like that, and taking risks like that could be more detrimental than beneficial (Basically the survivor bias that he's talked about before in his books is basically what I'm saying here). It would be like having a college student drop out of college and go start a company to only fail at it miserably to only end up with debt to pay and time wasted. Making you feel like an absolute failure. I do think that taking risks make sense, but only when they're calculated, not blind. And the thing is I don't want to wait too long to get started because I know that the fastlane takes time to happen. So I don't to wait until I'm 25 to get started, because then I won't achieve it until I'm in my thirties or later, which would be very disappointing to me because I would much rather have Wealth at a young age, or never have it period. I want to live the best years of my life in the best way possible, which can only be done when you have wealth. So I would really despise the journey that would have been taken should I achieve but wake up being in my thirties or forties. So while I could just focus on getting just enough so that I don't have to trade my time for money, I would also feel like that I would be settling for less because I know that's not what I REALLY want. I have no shame to say that I want to be as rich as f*ck I as can possibly be in my twenties. And while this does sound like money chasing the truth is, what would be the point of going through all that pain and sarcificie if you weren't doing it for the money? it would make no sense (Unless you already have wealth). It's not a probable to crave for money as long as you don't do unethical things and destroy your life in the process of doing it. Just as long as you have the right mindset and methodology (which I current don't). So right now I have to figure out how the f*ck I'm going to support myself decently before I even think about pursuing the fastlane, and have to accept the reality that I won't be as rich as I'd like to be or wait until half of my life has been pissed away chasing after money. It also doesn't help that I'm very bad with coming up with business ideas... (I've tried to apply the advice that I was given on the forum when I posted a thread on ideas and yet I still cannot find ideas that are easily scalable and bootstrappable) I don't know to be honest... maybe I'm just not smart enough to take on the fastlane and perhaps should live an average life to make things easier myself. Life is already hard as it is. All of this time pressure is making it difficult for me to figure things out in my life because I want to f*cking do the fastlane but face obstacles that prevent me from doing it at this time.
If you are risk averse you can always take one step a time, and take on risk incrementally.

You wont be able to figure out everything now but you can start from somewhere.

I disagree that it is difficult to come up with ideas. Ideas are easy to generate/found/picked up from free sources, but most ideas will fail either product market fit is not strong, or the need is just not cost effective to be a business (rather than a small hustle). And there is no way getting around it other than trying.

Most good business idea are learnt/discovered from market feedback while the business is pivoting. A Business has built an audience to sell product A with mediocre result but found that a there is another pain point C which is a better problem for a business idea from their interaction with their clients…this is how things start.
 

robertwills

Bronze Contributor
Speedway Pass
Sep 9, 2020
341
231
93
Atlanta, GA
I don't get how MJ can say that you don't need much money to start a business when there are literally businesses that absolutely require capital to even get started. (Whether from your own money or investors). Starting an internet company is not the same thing as a manufacturing company. Where the former can be bootstrapped easily while the latter not so much.
While I understand that MJ can often oversimplify things to not have one overwhelmed by the details of everything to make the messaging hit home, knowing the details of everything is important when it comes to actually intending on taking action. If your product requires manufacturing, you cannot bootstrap that at all. You have to get money somewhere, and that's not bite sized money. You can only get that kind of seed capital from angel investors, and often, they're hard to find and convince. So personally, I find it a bit misleading. I like MJ's stuff and all, I just wish he did not leave out at the details of everything when it comes to the core components of what he talks about. It would be way more helpful if he at the very least explains the details that apply regardless of what kind of business you intend on doing. Your messaging can be fantastic, but if it doesn't actually spell out the precise details on what you must do action wise, then you feel helpless.
I will tell you that you absolutely do not need capital to start a business. In fact not having capital forces you to be resourceful and profitable quickly. I had a very bad situation some years ago. I was laid off. I was so depressed. I literally packed a suitcase and and got a on a bus with no destination! This is what I did then: I called a former supplier and got pricing on goods. Then I called a former customer and offered them the goods plus a great mark-up for me. They bought and I made a heck of a profit. It only cost my next to nothing in telephone calls. Not so long after I was doing deals with a billionaire.

So when anyone says you need capital to start a business you can tell them it's not true.
 

Andy Black

Links at AndyBlack.net
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
May 20, 2014
12,494
49,130
4,306
Ireland
I will tell you that you absolutely do not need capital to start a business. In fact not having capital forces you to be resourceful and profitable quickly. I had a very bad situation some years ago. I was laid off. I was so depressed. I literally packed a suitcase and and got a on a bus with no destination! This is what I did then: I called a former supplier and got pricing on goods. Then I called a former customer and offered them the goods plus a great mark-up for me. They bought and I made a heck of a profit. It only cost my next to nothing in telephone calls. Not so long after I was doing deals with a billionaire.

So when anyone says you need capital to start a business you can tell them it's not true.
A good example of being resourceful vs having resources.
 

WJK

Platinum Contributor
FASTLANE INSIDER
Speedway Pass
Oct 9, 2017
2,050
4,478
1,018
Alaska
I don't get how MJ can say that you don't need much money to start a business when there are literally businesses that absolutely require capital to even get started. (Whether from your own money or investors). Starting an internet company is not the same thing as a manufacturing company. Where the former can be bootstrapped easily while the latter not so much.
While I understand that MJ can often oversimplify things to not have one overwhelmed by the details of everything to make the messaging hit home, knowing the details of everything is important when it comes to actually intending on taking action. If your product requires manufacturing, you cannot bootstrap that at all. You have to get money somewhere, and that's not bite sized money. You can only get that kind of seed capital from angel investors, and often, they're hard to find and convince. So personally, I find it a bit misleading. I like MJ's stuff and all, I just wish he did not leave out at the details of everything when it comes to the core components of what he talks about. It would be way more helpful if he at the very least explains the details that apply regardless of what kind of business you intend on doing. Your messaging can be fantastic, but if it doesn't actually spell out the precise details on what you must do action wise, then you feel helpless.
I started my real estate career with the salesman licensing fee. I "bird dogged" for investors by finding Equity Purchases (now called flips). At first I got a finder's fee for finding the deals and turning them to guy with the money to do it. Then, in time, I got a cut of the of profits. And over time, I self-funded and ran my own deals. But, there was nothing instant about any of it. There was a long learning curve and I made a lot of money for other people for a long time. What I got in exchange for selling them my deals was to follow them around, fetch their coffee, and learn their secrets. I got to ask them all of my questions. And I got my hands dirty helping to make them money. I can remember the horrible smell of some of the houses as we stood on the front porch to get our paperwork signed. One of my favorite investors always would take a deep breath of the stench, and say, "Oh, I smell money!"

I think you're putting the cart before the horse. You sound like you want to start with the whole business pre-built out of the box. Part of going through the process of building it up is learning how to make it a success.
 

jclean

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 9, 2016
45
66
124
Belgium
I don't get how MJ can say that you don't need much money to start a business when there are literally businesses that absolutely require capital to even get started. (Whether from your own money or investors). Starting an internet company is not the same thing as a manufacturing company. Where the former can be bootstrapped easily while the latter not so much.
While I understand that MJ can often oversimplify things to not have one overwhelmed by the details of everything to make the messaging hit home, knowing the details of everything is important when it comes to actually intending on taking action. If your product requires manufacturing, you cannot bootstrap that at all. You have to get money somewhere, and that's not bite sized money. You can only get that kind of seed capital from angel investors, and often, they're hard to find and convince. So personally, I find it a bit misleading. I like MJ's stuff and all, I just wish he did not leave out at the details of everything when it comes to the core components of what he talks about. It would be way more helpful if he at the very least explains the details that apply regardless of what kind of business you intend on doing. Your messaging can be fantastic, but if it doesn't actually spell out the precise details on what you must do action wise, then you feel helpless.
There is a book called the power of broke.
I think in many cases/businesses the best way to start a business is without much money . You will learn that much more ( creative ways to get shit done ). And eventually you will make money that you can use in a smart way.
I started with selling my 'beloved' bmw in 2013 ( had a loan ). Bought the equipment i needed ( window cleaning business) for no more than 3000k
This year we have 6 vans and will do close to 750k. Is this huge ? No but i a enjoy having a business that provides for me and my family
After all this years learning ( books, podcasts, youtube, this forum...)with all this knowledge and money that cashflow from my window cleaning business i am now building my next business in this space that have all the cents acquirements.
I am amazed how much similarities Mj's new book the great rat race escape has with my business career.
I'm sure of one thing
no one is going to do it for you.
Just start a business and learn along the way
 

Melv

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Aug 22, 2020
36
14
17
France
That topic is a fantastic !

I thank you all, after reading each of the comments, I realized that I wanted to be in rolls royce before the twingo.

I wanted the million before the euro, before the ten, before the hundred, the thousand..

To summarize my life at the moment, I have been on a project for 1 month and half.

What did I do? I started a graphic model and wrote on pieces of paper what I should do and what would happen!!

I WROTE HOW MUCH MY PROJECT WOULD BRING ME BACK WITHOUT EVEN HAVING MADE A SALE!!!

Hell, it took me years to figure out that we start one day and finish another..

So I’m leaving this step to develop the soft version of my project that meets the same needs !!
 

Tourmaline

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jun 4, 2019
904
1,061
362
Texas
I don't get how MJ can say that you don't need much money to start a business when there are literally businesses that absolutely require capital to even get started. (Whether from your own money or investors). Starting an internet company is not the same thing as a manufacturing company. Where the former can be bootstrapped easily while the latter not so much.
While I understand that MJ can often oversimplify things to not have one overwhelmed by the details of everything to make the messaging hit home, knowing the details of everything is important when it comes to actually intending on taking action. If your product requires manufacturing, you cannot bootstrap that at all. You have to get money somewhere, and that's not bite sized money. You can only get that kind of seed capital from angel investors, and often, they're hard to find and convince. So personally, I find it a bit misleading. I like MJ's stuff and all, I just wish he did not leave out at the details of everything when it comes to the core components of what he talks about. It would be way more helpful if he at the very least explains the details that apply regardless of what kind of business you intend on doing. Your messaging can be fantastic, but if it doesn't actually spell out the precise details on what you must do action wise, then you feel helpless.

Businesses do not require any of your own capital to start. Look at Joint Ventures as an easy example.
 

Matt33

Bronze Contributor
FASTLANE INSIDER
Speedway Pass
Apr 14, 2013
44
204
156
24
FL
The world isn't a safe space. You can't necessarily start with the business you want to you start, you have to start with the business that you can afford to start, with the absolute best opportunity / most potential being your choice regardless of passion.

Start small and build that smaller business that adheres to fastlane principles. For your second business you'll have the capital and experience necessary to do what you've always wanted to do.
 

Sponsored Offers

MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Hi - I sent out some emails with the updates but I'll PM you now also, thanks. The issue is...
  • Sticky
MARKETPLACE NEW: The Best School for Going Fastlane (Now open for summer enrollment)
Read the free book, some excellent insights. I also did the website quiz and I did a visual on a...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
Hi Fox. Starting the book and got through the introduction. Had a conversation with Andy Black...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Chris is super sharp and is aware of many facets of entrepreneurship and can help get your...
Introducing MJ's Personal Unscripted Network, Join Now for FREE!
Any chance to make it available outside of US? It has been available outside of the US on...

Forum Sponsor

Learn Fastlane Business Skills & Get Profitable Within 30 Days...

Get Started Now

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom