Hi
Mr_T from Scandinavia here. Wanted to create this progress thread to share any wisdom/knowledge I might collect on my way to creating a fastlane business. Also created this thread to hold myself accountable and I will report back here by the end of each month (because social pressure is goood) with X amount hours worked, X,Y,Z progress made and any reflections and/or questions I might have.
Background
I'm a professional software engineer/contractor that has worked in the software industry for about 7 years. After seeing and working in different fastlane businesses that grow and thrive and reading MJ's books I'm convinced that it is possible to create a fastlane business on my own.
Where am I now?
In march 2017 I bought a site that sells niched WordPress themes which, after doing my due diligence before buying it on flippa looked good on paper. However after pouring in a couple of months (theme development, marketing, site makeover) of work in that site and with no sales up to this date (except for affiliate sales) I realized that it was a fastlane failure. As MJ writes, failure is a part of the process so even if the lack of sales almost killed my motivation, I'm still convinced that if you work smart and hard enough it is possible build something. So I will pause the WP theme site development until further notice and take action to create something based on a NEED that is not packed with competition, major players that earn the BIG cash and eat the small players to breakfast (the WordPress theme world).
Next step - validating the golden market
I have identified a niche market that I have experience from with a NEED that so far is not packed with competition. However there are major players in this market but since it is so broad I think there could be room for another marketplace. To test that the NEED is really there and that there is room for another player I will do a Facebook campaign and drive traffic to a landing page which will say something like: "The site is under constructing but will contain feature X, feature Y". The landing page will have an email input form where the interested user can leave their email adress. The validation will be based upon how many users that leave their email, the Facebook CTR and how long the users stay on the site. Here I have a question to you guys, do you have any tips for doing such a test? Anything I should be thinking about when creating the landing page? How would you validate this?
Mr_T from Scandinavia here. Wanted to create this progress thread to share any wisdom/knowledge I might collect on my way to creating a fastlane business. Also created this thread to hold myself accountable and I will report back here by the end of each month (because social pressure is goood) with X amount hours worked, X,Y,Z progress made and any reflections and/or questions I might have.
Background
I'm a professional software engineer/contractor that has worked in the software industry for about 7 years. After seeing and working in different fastlane businesses that grow and thrive and reading MJ's books I'm convinced that it is possible to create a fastlane business on my own.
Where am I now?
In march 2017 I bought a site that sells niched WordPress themes which, after doing my due diligence before buying it on flippa looked good on paper. However after pouring in a couple of months (theme development, marketing, site makeover) of work in that site and with no sales up to this date (except for affiliate sales) I realized that it was a fastlane failure. As MJ writes, failure is a part of the process so even if the lack of sales almost killed my motivation, I'm still convinced that if you work smart and hard enough it is possible build something. So I will pause the WP theme site development until further notice and take action to create something based on a NEED that is not packed with competition, major players that earn the BIG cash and eat the small players to breakfast (the WordPress theme world).
Next step - validating the golden market
I have identified a niche market that I have experience from with a NEED that so far is not packed with competition. However there are major players in this market but since it is so broad I think there could be room for another marketplace. To test that the NEED is really there and that there is room for another player I will do a Facebook campaign and drive traffic to a landing page which will say something like: "The site is under constructing but will contain feature X, feature Y". The landing page will have an email input form where the interested user can leave their email adress. The validation will be based upon how many users that leave their email, the Facebook CTR and how long the users stay on the site. Here I have a question to you guys, do you have any tips for doing such a test? Anything I should be thinking about when creating the landing page? How would you validate this?
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