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INTRO Most liked posts in thread: The Good, the Bad and the Ugly

  1. Ubu_roi
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    Ubu_roi New Contributor Read Millionaire Fastlane

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    Hi MHP368,

    you should read "built to sell" , the person that left was an employee not a partner right? seems like you're correct in wanting to outsource that.


    Thanks for the suggestion. Yes he was an employee.

    Also could you explain in more depth what product or service your company provides for these small businesses?

    Basically I create custom software for small businesses. For example, let's say you have a ground transport company, and need a software to take the customer calls or web requests, then need to decide which truck/driver will take the package, and then create an invoice to your customer. What I do is make an application for you to deal with your tasks, and a mobile app for the drivers. And then in some cases we also make a maintenance contract.

    The teaching business definitely wont lead to freedom, its great you have some rentals but rental income in italy is well outside my zone of knowledge.

    Also, could you briefly explain how you attract new clients and the time commitment from your end to service each client?


    At this time the only way new customers come to me is because some other customer recommended my company. I cannot take all the work that comes in. My commitment is analysing the customer needs, propose a solution, and if we agree on the price/timing make the software. This may take anything from 15 days to 3 months.

    What amount monthly extra would you need to bring in in order to stop teaching?

    That is a very good question actually, I've never thought about that. Generally speaking I make about 300 / 400$ per day teaching, and I teach 5 to 10 days per month. But it's also a way to get paid to learn new things and keep up to date with a technology.

    Thanks a lot for your reply!
     
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  2. FastNAwesome
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    FastNAwesome Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Welcome to the forum and best of luck on your path to fastlane.

    There's a type of outsourcing that might fit you well, if you're looking for a full-time employee.

    It's when the outsourced worker(s) work side-by-side with your in-house team, together. The company that you outsource to finds qualified workers and they work from their offices, but they work for your company full-time.

    Some call it co-sourcing.
     
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  3. astr0
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    astr0 Grinding Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    We call it outstaffing in general, or dedicated developers / dedicated teams.

    A lot of companies provide that service, even here in Lviv, but usually for long term projects (6 months+).

    I don't want to recommend any particular company, but you can Google them and in case you'll get interested in Ukrainian-based one feel free to ask me details about them.

    Be careful and do tech interviews with candidates yourself. Selling juniors as seniors, unfortunately, is very common in this business...
     
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  4. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Welcome aboard, great intro.

    Hmmm, not sure how you come to that conclusion. Outsourcing is valuable in the right situations.
     
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  5. MHP368
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    MHP368 the man, the myth, the Pseudo-Apollodorus Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    you should read "built to sell" , the person that left was an employee not a partner right? seems like you're correct in wanting to outsource that.

    Also could you explain in more depth what product or service your company provides for these small businesses?

    The teaching business definitely wont lead to freedom, its great you have some rentals but rental income in italy is well outside my zone of knowledge.

    Also, could you briefly explain how you attract new clients and the time commitment from your end to service each client?

    What amount monthly extra would you need to bring in in order to stop teaching?
     
    Ubu_roi likes this.
  6. Ernman
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    Ernman Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Welcome to the forum Ubu_roi.
     
    Ubu_roi likes this.
  7. Ubu_roi
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    Ubu_roi New Contributor Read Millionaire Fastlane

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    It's funny how just explaining the facts, answering to a few questions and writing all down gives you clarity ;-)

    What's what I'll do:

    - Outsource (or co-source) some of the software creation activity
    - Reduce the training activity to the bare minimum to stay on the market (approx. 5 days/month)
    - Try to bend the business model of the software creation so that the software I make can be sold to several clients "as it is".
    - Keep you posted about my attempts ;-)

    Thanks you all.
     
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  8. Ubu_roi
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    Ubu_roi New Contributor Read Millionaire Fastlane

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    Do you know any company that does that?
     

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