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INTRO New member from Estonia

changinglanes12

New Contributor
Apr 8, 2021
8
7
11
Hello guys and girls! I just finished reading "The millioinares fastlane". Good book! In past i have made several bad financial mistakes. Because i let other people to influence me. It has cost me thousands of euros. Anyway, i don't have any loans or credit car debts. And i'm not a big spender. Oh, i forget to mention that Estonia is a small country located in Eastern-Europe. I'm confused where to start. I think my only way to Fastlane here is online business (global). Market here is very limited due to small population. As MJ DeMarco stated in his book joining network marketing is dead end as well as dropshipping. Where to start?
 

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monfii

Gold Contributor
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Welcome! I am sure you're aware Estonia is by far one of the best and most entrepreneurial countries in Europe! It's always been a dream of mine to live there.
 

changinglanes12

New Contributor
Apr 8, 2021
8
7
11
Not at all, but working on it!
Good luck!
Welcome! I am sure you're aware Estonia is by far one of the best and most entrepreneurial countries in Europe! It's always been a dream of mine to live there.
Not really sure about it. Zero research and development. All the biggest factories are owned by foreign countries (where all the research and development takes place and majority of money goes to). Very hard to get to fastlane here. Starting business or service here violates Scale and Time commands.
 

Santiaggo

Contributor
Feb 2, 2018
23
23
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Uruguay
Good luck!

Not really sure about it. Zero research and development. All the biggest factories are owned by foreign countries (where all the research and development takes place and majority of money goes to). Very hard to get to fastlane here. Starting business or service here violates Scale and Time commands.
You sure about that? I heard Estonia has one of the highest rates of startups per capita
 

Strm

Mamba Mentality!
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Feb 4, 2018
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Estonia
Starting business or service here violates Scale and Time commands.

Not entirely true. You can start locally, with the right business model, like e-commerce for example. It's possible to scale it after you've made enough sales in Estonia. Just takes some time and research, that's all. Don't sabotage yourself. ;)
 

Strm

Mamba Mentality!
FASTLANE INSIDER
Read Millionaire Fastlane
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Feb 4, 2018
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Estonia
Also, feel free to PM me and maybe I can help you with some tips and insight!
 

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monfii

Gold Contributor
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Mar 3, 2020
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Good luck!

Not really sure about it. Zero research and development. All the biggest factories are owned by foreign countries (where all the research and development takes place and majority of money goes to). Very hard to get to fastlane here. Starting business or service here violates Scale and Time commands.
You have excellent digital literacy, a pro-business government, an excellent international reputation, the country is safe and infrastructures are much better than in Latvia or Lithuania. Also students around the world come study computer science at the University of Tallinn. And you have saunas. Don't forget the saunas.

The main problem I'd say is that you are not famous (yet) and to be fair, you suck at marketing your own country (no harm intended). We all know about French cuisine or Italian fashion, but what is Estonia known for? It's a wonderful opportunity because it means you can seek Estonian products (what's that alcohol from Tartu called again?) and export them all over Europe. For example, we have no Estonian food in Brussels (and Brussels is the city in the world where you can find the widest variety of food). Estonian beef is amazing, why can't I find any?

Take a look at the success stories Printful and Printify. Both Latvian companies, known internationally, because they managed to leverage Latvian (and European assets) properly.

Then there is Hostinger, Lithuanian company, which also managed to leverage its assets.

Here are other sectors I would invest in in Estonia:

- Student accommodation
- Real estate
- Tourism
- IT services (sub-contracting, like the Polish do).
- Military research and industry: you're a neighbor of innovative Finland and ambiguous Russia. If there is one place to establish a military industry, it's Estonia. Don't you still have a military service?

See, I can find many ideas, I only visited Estonia for a week ; ) what you should do is explore a bit more Europe, see what exists in other countries and what doesn't exist in Estonia, and do it in Estonia.

If I wasn't busy already, I think I'd start an import-export business between Estonia and Belgium, exporting Belgian beer, chocolate, and waffles, and importing Estonian alcohol, and beef.

Edit: PM me if you need help
 
Last edited:

changinglanes12

New Contributor
Apr 8, 2021
8
7
11
You have excellent digital literacy, a pro-business government, an excellent international reputation, the country is safe and infrastructures are much better than in Latvia or Lithuania. Also students around the world come study computer science at the University of Tallinn. And you have saunas. Don't forget the saunas.

The main problem I'd say is that you are not famous (yet) and to be fair, you suck at marketing your own country (no harm intended). We all know about French cuisine or Italian fashion, but what is Estonia known for? It's a wonderful opportunity because it means you can seek Estonian products (what's that alcohol from Tartu called again?) and export them all over Europe. For example, we have no Estonian food in Brussels (and Brussels is the city in the world where you can find the widest variety of food). Estonian beef is amazing, why can't I find any?

Take a look at the success stories Printful and Printify. Both Latvian companies, known internationally, because they managed to leverage Latvian (and European assets) properly.

Then there is Hostinger, Lithuanian company, which also managed to leverage its assets.

Here are other sectors I would invest in in Estonia:

- Student accommodation
- Real estate
- Tourism
- IT services (sub-contracting, like the Polish do).
- Military research and industry: you're a neighbor of innovative Finland and ambiguous Russia. If there is one place to establish a military industry, it's Estonia. Don't you still have a military service?

See, I can find many ideas, I only visited Estonia for a week ; ) what you should do is explore a bit more Europe, see what exists in other countries and what doesn't exist in Estonia, and do it in Estonia.

If I wasn't busy already, I think I'd start an import-export business between Estonia and Belgium, exporting Belgian beer, chocolate, and waffles, and importing Estonian alcohol, and beef.
Tourism is dead in Estonia due covid restrictions. There are enough student accommodations here. To get into real estate you have to have a lot of money.
 

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