Hi everyone,
I'm a 34 year-old IT from France, now living in Luxembourg, where we can have a pretty high income (for the slow lane), up to 36 days of paid holidays and sometimes very "attractive" packages, diverting us all the more easily from the fast lane, even though the price for a living there is terribly high as well...
I read MJ's fastlane book last week, and I must say it's the first time I ever read a book that fast, and despite some conflicting views regarding the context (American and European societies have very different systems, constraints and opportunities, for i stance I have no debt for my 5 years of IT studies, as it was nearly for free), the core idea remained perfect.
I first had plenty of ideas about useful things that could make a difference, but in most cases getting the required knowledge would definitely require a decade or so, or it was just not respecting too many of the fast lane laws...
Then in my neverending list, I thought about some retail franchise that I really like, but which website is seriously horrible to use despite nice graphics, and with an efficiency that might clearly be improved with a more ingenious system.
Now I know the "I don't know how" sentence is no excuse to start, but I'm wondering if it would be worth taking that orientation or better move on to the next idea:
About the need: it's something people will always need, and that they will want more and more.
About the impact: once launched and if the clients are satisfied, I believe it could easily be spread through Europe and overseas.
About my actual knowledge: I'm no frontend developer but I started some tutorials on Angular, with a good developer background. I'm fluent in French and English, with contacts throughout the world who might help me prospecting for opening new shops in the mid/long term. I'm also a project manager in the assurance industry, so I have some leadership and practical knowledge that might help.
What do I lack & need?
- Financial resource to open a "POC" shop.
- Angular is pretty recent and I haven't coded much in the last few years --> time to study.
- I would need partnerships with producers although I don't know yet how to create my network --> time to study + prospect.
- I have no legal knowledge yet on how to create my company --> time to learn about this.
On the other hand, the covid crisis did hurt many businesses, and some places might be more easily open for rent by the time I'm ready.
All considered, it feels like I'd be a long way from getting there, as I'd need a couple years to acquire the missing knowledge, define the website and the whole optimised processes (that would be the core of the franchise), and some savings I can currently hardly make.
I might have ways of working less as a consultant and hence saving a lot of time for my project, but then I'll also lack the initial funds to make it.
Last but not least, I believe that my concept could "hit hard", but no idea how much it would take (time + funds) to get there.
Does that sound too big/risky to start on my own? Should I try to look for a partnership with an existing retailer to create the franchise together?
Kind regards
Mickaël
I'm a 34 year-old IT from France, now living in Luxembourg, where we can have a pretty high income (for the slow lane), up to 36 days of paid holidays and sometimes very "attractive" packages, diverting us all the more easily from the fast lane, even though the price for a living there is terribly high as well...
I read MJ's fastlane book last week, and I must say it's the first time I ever read a book that fast, and despite some conflicting views regarding the context (American and European societies have very different systems, constraints and opportunities, for i stance I have no debt for my 5 years of IT studies, as it was nearly for free), the core idea remained perfect.
I first had plenty of ideas about useful things that could make a difference, but in most cases getting the required knowledge would definitely require a decade or so, or it was just not respecting too many of the fast lane laws...
Then in my neverending list, I thought about some retail franchise that I really like, but which website is seriously horrible to use despite nice graphics, and with an efficiency that might clearly be improved with a more ingenious system.
Now I know the "I don't know how" sentence is no excuse to start, but I'm wondering if it would be worth taking that orientation or better move on to the next idea:
About the need: it's something people will always need, and that they will want more and more.
About the impact: once launched and if the clients are satisfied, I believe it could easily be spread through Europe and overseas.
About my actual knowledge: I'm no frontend developer but I started some tutorials on Angular, with a good developer background. I'm fluent in French and English, with contacts throughout the world who might help me prospecting for opening new shops in the mid/long term. I'm also a project manager in the assurance industry, so I have some leadership and practical knowledge that might help.
What do I lack & need?
- Financial resource to open a "POC" shop.
- Angular is pretty recent and I haven't coded much in the last few years --> time to study.
- I would need partnerships with producers although I don't know yet how to create my network --> time to study + prospect.
- I have no legal knowledge yet on how to create my company --> time to learn about this.
On the other hand, the covid crisis did hurt many businesses, and some places might be more easily open for rent by the time I'm ready.
All considered, it feels like I'd be a long way from getting there, as I'd need a couple years to acquire the missing knowledge, define the website and the whole optimised processes (that would be the core of the franchise), and some savings I can currently hardly make.
I might have ways of working less as a consultant and hence saving a lot of time for my project, but then I'll also lack the initial funds to make it.
Last but not least, I believe that my concept could "hit hard", but no idea how much it would take (time + funds) to get there.
Does that sound too big/risky to start on my own? Should I try to look for a partnership with an existing retailer to create the franchise together?
Kind regards
Mickaël
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