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My Fastlane project progress thread.....

CEBenz

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As some here know, I've had a project in the works for several weeks.

It could have been done by now I suppose, but my budget is small. Nonetheless, my developer is doing a good job, bid lower than everyone else, and is US based to boot. At any rate, the data entry phase is about to begin ( this is a function I hope users will handle for me after launch-i may try mechanical turk for this but I haven't decided yet).

My target users? Anyone in any English-speaking country(world domination must start small-jk kind of).

My service? Long overdue, and useful (all my friends have said they wish it existed) I'll reveal it on July 1st. I've been adding people to my personal facebook account (my target is 1000 friends) so, they should all see when I like it on facebook. I still need to create the facebook page and twitter account.

History:

I've had an idea in my head for a couple years now. And I sat back and waited and watched. No one did it. I bounced it off friends and relatives and ALL of them in their 20s, 30s, and 40s liked it. Some even said they thought it would be awesome. Why wasn't I acting? I had no idea how to code and thought it was going to cost thousands of $ to get built. After reading The 4 Hour Workweek and THE Millionaire Fastlane , I realized it may not cost as much as I thought. My suspicions were confirmed when I talked to Bateati (thanks man, I can never give you or MJ enough speed) on this forum. I started looking for contractors in mid April through Odesk. One programmer claimed he'd worked on a site that he actually hadn't, but I found the guy that did and he undercut all the other contractors and was US based to boot. He hasn't been the fastest, and there have been a couple communication issues, but its gone pretty well. This will be the beta of the site. Its sort of rough, and once I have a good base of users, I intend to add additional functionality to the site with a target date of December.
Intended marketing strategy:
I intend for this site to go viral. It will be a combo attack using Facebook, Twitter, and perhaps PRWeb. If anyone has any ideas for making this get big fast, I'd love to hear them. My #1 goal is for this site to be useful to a large audience, because nothing like it exists. A couple sites are similar but kind of lame and one of them has done $100 MILLION/yr with a model like I'm intending to add to the site once I have a tremendous base of users.

My edge over the other site I'm intending to compete with?
I intend to have more mainstream material than they have, but with similar functionality.

Total Costs incurred so far?
$760 including the domain hosting.

My background?
Hvac fabricator, traffic flagger, underage club bouncer, sheet metal forming machine programmer and operator, weldor, laser cutting system operator, car salesman(blame kiyosaki), crew leader for a small contracting company, firearms sale, some college towards mechanical engineering (before deciding it was the most boring thing I could do one classmate ended up interning at Porsche I think), marine engine parts and electrical sales at a large family owned supply in Seattle, indoor firing range manager, bartender, bartending instructor, and finally, entrepreneur. Its been a long road, but back when I was 21 yrs old working the graveyard shift, I remember telling myself that there had to be a better way than 40 hours/week for 40 years. I think I'm on that path now. I want to thank everyone here who I've learned from. MJ, bflBob, Jackedwards, BioPhase, Inphinity, bateati, the fenda guy (hey, I can't remember every sn on here), runum, Sparlin, RussH, and anyone I forgot. You have all said or done something that has gotten me to this point. I don't have any idea if this will work or not, but my sense is it will.

I will update as necessary.

MJ, when you read this, I'd really like to talk to you, preferrably by phone, if you can find it in your schedule. It would sure be appreciated.

Hopefully by b&P 2012, I'll be able to afford a round.

And for anyone who isn't sure where to start, think basic functionality and worry about pretty later.

-Cameron
 
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wallstreet

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Feels good to start doesn't it? A little advice I suggest you start with very conservative target goals. Here's 3 I use.

1. Gain customer acceptance. I view an acceptable customer acceptance number at .01% conversion rate for B2C businesses. A .005% conversion rate is doable but lets you know you're going to have to really fight, and a .02 or higher lets you know that you might have a knock out if it holds up while you scale it.

Since you said ever english speaker is a possible customer you might even be able to thrive on a .005% conversion rate.

2. Make the business self sustaining. This is the second thing I focus on. Once the business becomes self sustaining for all intensive purposes you are now a success. The idea is proven, and the business pays for it self.

3. Figure out the cost of acquiring a new customer and find an advertising method that gives you a profit or leaves you at a 0 balance for customer acquisition. For example if you're going to use PPC advertising and it cost you 38 usd per conversion. You will be completely ok as long as what you're selling makes you at least 38 USD profit.
 

dec360

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Cameron,

I am starting my journey to the Fast Lane just like you have. After reading your post I realized how much similarities we both have

For the last 2 years I too have a had an idea for a website service. No one is doing it and everyone thinks its a great idea.

I also plan to use social media, youtube and any web 2.0 tool that makes sense to market my website. I have learned a few techniques from some MLM and affiliate "gurus".

I am about to post the job on Elance, Guru and Odesk.

I am curious at how its been working out with your programmer. Do you just have one programmer working on your website? Did you give him the whole job right away or did you break it up for him in milestones?

Let me know if theres anything I can do to help you get traffic to your site once its up. Like sending the link to all my FB friends or something.

Best of luck.

David
 
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CEBenz

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@dec360

Technically, my project wasn't something that needed hugely advanced coding. All the basic functions were out there. I found an individual programmer. Again my project isn't rocket science. Technically, my first version is going to be basic. After I've gotten to around 100,000 users/mth or so, I'll probably add the second phase of functionality and that will probably ultimately be major money making portion.

I looked over the individuals portfolio and felt he was a good fit for my project. Always check your candidates off odesk and the other freelance sites. Also, realize that while you may think you know exactly what you want right now, there really isn't a way to know what you're overlooking until the project goes forward.

Frankly, so far this project has been easier than getting traffic to my ecommerce site. Like MJ says, barriers to entry or "perceived barriers". Stay flexible. Be aware that some coders may not immediately do what you want but stick to your guns as long as it has to do with user interface and usability. Coders don't necessarily think the way a layman does. I'm not saying they're all this way, but this is what I've seen.

I hope this helps. And I may take you up on the FB offer. Send me a pm when you have free time.
 

CEBenz

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Getting closer. Site just needs a couple things tweaked and some data entered, then it'll be off to the races. I have a vision, a nearly completed website, 300 or so Facebook "friends", and about 7 Twitter followers. Wonder what I can pull off.

My hope for launch announcement is Tuesday, July 12th. I'm optimistic for this site.


My first goal after launch?

Try to get enough users to crash the server
 

Likwid24

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Looking forward to it. I'll look for the FB page.
 
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semsniper

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Looking forward to the launch, CEBenz

Facebook and other social related marketing techniques are all well and good ofcourse.
But when you get thinking about your phase 2, start thinking Search Marketing (SEO & PPC).

Unlike social media, SEM requires that your site looks, structures & is built in a certain way that will attract visitors from search engine searches. Build it poorly, and especially if you find social media hasn't taken off as quickly as you had hoped & could be in for a rude awakening if your site needs to be re-developed.

Just seen this too many times. No one wants to pay for a website twice.
 

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