The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

EXECUTION PROGRESS THREAD: Building 2 fastlane web properties. Chronicled month by month.

GrayCode

.
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Nov 23, 2015
148
227
165
After a long journey to this point thus far, I'm in the process of building 2 web properties both with fastlane potential if I execute correctly. I'll outline my brief goals for each. I'll be back to this thread to answer any questions as well as update the progress month after month.

Web Property #1 - SaaS
This product is a software as a service business in the bookings/payments space. I uncovered the need after speaking to a business owner whose shop I was in for a service he was selling. I'm partnered 50/50 on this business with another software engineer. We're both really good engineers and interested in the space. We've known each other for over 2 years now and have partnered successfully on freelance projects in the past.

Note: We both still work full-time as we build this out. (As of July 2019)

Goal: MRR (Monthly Recurring Revenue).

Web Property #2 - Community

This product will be community based. I uncovered the need as someone who partakes in the niche this community is within and realized... "Wow, I can build a better mousetrap". For this project I'm 100% solo. Not only am I certain I can build a better mousetrap, but there is huge upside for potential feature additions taking it from just a community to potential full-on SaaS as well. Because I'm personally interested in this space, I'll be building it as a break from Web Property #1 as a passion project and the main focus will be to get the traffic flowing before even thinking about charging for anything (though I have a bunch of ideas of how to go about that if I can prove to capture traffic).

Goal: Monthly Traffic.


Web Property #1 - SaaS. MRR Focus.

Month​
Results​
Notes​
April 2019​
$0​
After the planning phase was finished, we started building the software. We divided the work so we were tackling the project from both ends. On-boarding inward & Main features outward.
Estimated 15% complete.
May 2019​
$0​
Deep into the thick of it. We're expanding out our database architecture (there are multiple user types, which can complicate things). We completed 1 of 4 of the main features at least to MVP level. I love software because of it's natural ability to evolve overtime. We know that as time passes in this venture the software will only get better and better.
Estimated 30% complete.
June 2019​
$0​
I took what we have finished so far and brought it back to the service provider who originally sparked the idea. He really liked it and was eager to begin using it. He'll likely be our first customer. We're chugging along on the software.
Estimated 50% complete.
July 2019​
$0​
We picked up a freelance project in which the pay will provide us each 8-12 months of runway. It will slow us down just a bit, but we believe the trade-off is worth it. (Good deal should we decide to just walk away from day job).
Estimated 60% complete.


Web Property #2 - Community. Traffic Focus.
MonthResultsNotes
July 2019​
0 Visits​
Working with freelancers to help scrape a good amount of data to seed the database. In the meantime I've been working on building the website. The goal is to launch fast. I've finally realized hiring freelancers to do things is SO MUCH BETTER than doing everything myself. (Hello free time)
Estimated 75% complete
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Last edited:

Sadik

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Jan 26, 2017
115
371
187
35
Kolkata, India
These are niches with very good potential. Great choices I must say. I have quite a bit of experience running and growing both traffic and paid communities, so if you need any ideas please ask. And all the Best.
 
OP
OP
GrayCode

GrayCode

.
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Nov 23, 2015
148
227
165
These are niches with very good potential. Great choices I must say. I have quite a bit of experience running and growing both traffic and paid communities, so if you need any ideas please ask. And all the Best.
Thanks Sadik, were the communities you were apart of your own businesses?
 
OP
OP
GrayCode

GrayCode

.
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Nov 23, 2015
148
227
165
Just added a July 2019 update
(I'm tracking everything in the top most post to avoid people having to search for everything).

Things are moving along. This is the first time on my multi-year journey where I actually had some $ to use to pay freelancers to help. It's amazing and such a time saver. Going forward I'll definitely want to consider building a team of capable people and work ON my business instead of IN my business.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.



Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom