My plan to enter the fastlane. Looking for feedback and suggestions

[JED253]

Hi All,

I joined the forum a year ago after reading Fastlane. At the time, I was a few weeks away from entering a master's program in Business Analytics (Data science, machine learning, etc.). The program is now complete. The program was free for me, and I have tried my best to approach the program with an entrepreneurial mindset. The most valuable thing the program has given me is that throughout the year I worked on a project with a real company. My team and I helped build a machine learning model and Power App for them, which I can use as proof of concept for a business that I can shop around to other businesses. Also, in a stroke of good fortune, someone has entered my network who successfully built and sold a business in my field for WELL over my exit number, and he has graciously offered his mentorship, which is additional incentive for me to choose to start a business in the machine learning field.

At first, this business is just going to be another job. I will be a one man crew, building models and apps for small to mid sized companies. However, my plan is to identify common problems as I work with clients, and build some sort of software that I can sell detached from my time, preferably on a subscription basis. That is similar to what the aforementioned person in my network did, he worked with a huge tech company, identified a common problem across clients he was working with, and then built a software that solved that problem.

The biggest issue with this idea, I believe, other than it being another job for a while, is that it violates the commandment of entry. However, MJ has said you do not need to abide by all 5 CENTS commandments right away, and that businesses can evolve to follow all 5. Hence my idea to transition to selling software once I have a better sense of the problems businesses face.

Are there any other major issues with this approach that y'all can think of? And what suggestions would you give me?

I am currently publishing an online course that will serve as my side hustle for supplemental income, and I still have a slowlane job that is mostly remote and can be done in about 10 hours a week. After my course is finished, which will be today if all goes as planned, I will start researching names and domains for my single owner LLC. Then my mentor is going to help me build my website.

 

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[jolinem]

Jo Emm,

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