I've been listening to Unscripted again, and something dawned on me. I have domain experience in a niche field, and I am actively getting paid to tackle a problem.
Through systemizing this procedure, I can scale my income (still bound to time though) and in the future I could turn it into a human resource legacy system that doesn't need my input anymore.
I'd like to provide the C.E.N.T.S. evaluation I personally did in hopes it is of any value to people reading. Feedback is greatly appreciated.
Why did I decide to act on this? Domain experience. It will be harder to turn it into a legacy system, due to human resources needing to be employed, but for now (freelancing for capital) I believe it can fulfill most of C.E.N.T.S. while also giving me entrepreneurial experience (since in order to get legally paid, I need to turn it into any type of business structure).
Do you think that my assessment of the commandments is off? Am I making too many assumptions? How would YOU rate it, given the data I have provided?
As always, thank you for your time,
-Constantine
EDIT: While I had the time, I edited the topic for this to be my own personal journal on learning this freelancing work. My objective: to obtain a high-income skill that I can fall back on, in case future business endeavors don't work out well.
Through systemizing this procedure, I can scale my income (still bound to time though) and in the future I could turn it into a human resource legacy system that doesn't need my input anymore.
I'd like to provide the C.E.N.T.S. evaluation I personally did in hopes it is of any value to people reading. Feedback is greatly appreciated.
- Control: The niche domain revolves around doing the heavy lifting for corporations requesting grants from the government. It is contingent on the Bureau existing (although in the EU, there's one such bureau in every country, and I can deploy in either of two countries.
- Entry: The domain is niche because a specific skillset and specific companies apply for those grants. It's a field where most companies don't look, and most of those who do can't get their foot in the door. There is no other entity that is willing to take up that work on behalf of the companies. They have to do it themselves.
- Need: In order to get in this niche, there's a ton of pain points. In order to get those grants, companies need to alter their structure to provide data in the way the government wants, and that's a big, emphatic, NO from all of them. They also need to take time off their schedule to work on that, and that's another NO. Extreme thoroughness is requested by the bureau, which means that nothing really ever gets done fast. These are the main ones that I can count on top of my head.
- Time: In this stage, it's still bound to my time because, as mentioned earlier, it can only be a human resource legacy system (at least it will always have a component of it)
- Scale: Although it can be considered bound to operating within a country, the clientele ranges from small companies to the biggest companies in the country. Multiple grants can be requested by one company, on different fields each. Each request is a potential "client". Multiple services can be offered if I decide to go through with the system.
- Value Skew: For the company it would be the provision of ease. Ease of access to funding. Ease of handing the bureaucratic red tape. Ease application. Convenience of process simplification. Convenience of retaining the workflow of the people otherwise needed to perform the task.
Why did I decide to act on this? Domain experience. It will be harder to turn it into a legacy system, due to human resources needing to be employed, but for now (freelancing for capital) I believe it can fulfill most of C.E.N.T.S. while also giving me entrepreneurial experience (since in order to get legally paid, I need to turn it into any type of business structure).
Do you think that my assessment of the commandments is off? Am I making too many assumptions? How would YOU rate it, given the data I have provided?
As always, thank you for your time,
-Constantine
EDIT: While I had the time, I edited the topic for this to be my own personal journal on learning this freelancing work. My objective: to obtain a high-income skill that I can fall back on, in case future business endeavors don't work out well.
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.
Last edited: