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Idea threads

FastlaneJonah

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Dear fellow entrepreneurs,

Young lad over here who requires advice. I read Fastlane about a month ago.
I also became highly interested in entrepreneurship last month
as I'm a huge fan of self-improvement (forming habits such as a proper diet, exercise, meditation, journaling, reading, etc.)

My self-improvement journey made me realize that through hard work, you can become fulfilled and enjoy
life much more than if you continue to pursue what everyone else is doing. It became apparent to me
that the typical 9-5 life sounds extremely boring to me. I also realized that despite teaching bringing me
massive fulfillment, it doesn't pay bills (due to the current housing crisis in my country)
and doesn't allow me to live life with much freedom. Prior to reading I thought investing
was the way, but boy was I deluded after reading Fastlane.

What resonated with me extremely well in the book and what many successful entrepreneurs seem
to agree with is the fact that if you bring massive value and positively impact many lives or
hugely positively impact a few lives you will make tons of money. I also learned that it has to be
authentic and that you are playing a long game. As a teacher, I currently enjoy bringing massive
value to my students' lives except I don't get really wealthy doing so. So the bring value to the world
part is something I possess.

This leads to the question, and I know similar questions have been asked before.
What business should I start and what business has a bigger chance of being future-proof?
With the latter I mean, that I could spend my time for 10 years on that business without
becoming obsolete. I don't want the future to chop down my money tree, so to speak.

The businesses that really interest me, as of now, are:
  • Web design (Creating websites for businesses to make them successful online or to enhance the quality of the web sounds really appealing to me. I've got 0 experience with programming websites though).
  • Marketing (promoting products that I stand behind to make it a win-win situation (they pay me for marketing, I pay them with sales) sounds really appealing).
  • E-commerce (find a problem, solve it, sell the product. This one does scare me though, as it is really abstract and sounds really difficult).
  • Blogging (have one currently, but I think it doesn't have a huge chance of success, also Fastlane really called me out here hahaha).
  • Software development (Extremely challenging but interesting. I have very little experience with programming).

Of course, I didn't add the skill at which I'm really good at currently; teaching. I want to learn the ins and outs of business so that I can later put this skill to use teaching people for a fair price. I also didn't mention freelance writing due to the fact that I think that AI will make content writing (and blogging for that matter) obsolete due to their potential with regards to producing language.

Thank you for reading and I'd love to hear from you.

Kind regards,
 
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Robdavis

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Welcome to the Forum.
You will find lots of answers to various questions you could have if you read the already existing forum threads together with MJ's books.
Try these few threads for starters:

If you put in effort, then you'll get results.
 
Last edited:

FastlaneJonah

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Welcome to the Forum.
You will lots of answers to various questions you could have if you read the already existing forum threads together with MJ's books.
Try these few threads for starters:

If you put in effort, then you'll get results.
So, long story short, all work, I just have to choose one I like the most or one I've the most passion for?
 

Ing

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Yes. Execution is everything!
 
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Jobless

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What you've listed are skills, not business ideas. A business solves a problem for someone. A skill is the ability to solve one aspect of some problem. The hardest problems to solve are complex, and these make for better long-term business endevours. Big complex problems are just 100 small problems, and as you slowly discover and solve them, step by step or iteratively, you solve the big problem. To do this, you will likely need 100 different skills. Luckily, you do not need all skills personally, because people that are better than you can help, provided that you can lead them.

Do not make a business centered around a single skill. That is a low barrier of entry, unless the skill is extremely rare. Combine several strengths into one unbeatable, ever-improving, problem-solving system.
 

FastlaneJonah

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What you've listed are skills, not business ideas. A business solves a problem for someone. A skill is the ability to solve one aspect of some problem. The hardest problems to solve are complex, and these make for better long-term business endevours. Big complex problems are just 100 small problems, and as you slowly discover and solve them, step by step or iteratively, you solve the big problem. To do this, you will likely need 100 different skills. Luckily, you do not need all skills personally, because people that are better than you can help, provided that you can lead them.

Do not make a business centered around a single skill. That is a low barrier of entry, unless the skill is extremely rare. Combine several strengths into one unbeatable, ever-improving, problem-solving system.

Really insightful and you're probably right. I do have to say that I still have lots to learn. But what you're writing doesn't sound easy; which obviously the book stated many times before. Would it be therefore be wiser to focus around more skills or is that still low-barrier for entry.

What I'm thinking about right now would be:
1. Focus on becoming an expert on one skill; (digital) marketing or web development.
2. Make a business that focuses on marketing and creating websites for businesses that are SEO friendly.
3. Whilst growing making interesting blog posts on the business website so that I can grow my reach through SEO.

However, I don't know if this would be a viable business plan and what I often want to do is first try to see if my service/product will sell before buying many things such as a complete website etc.

I feel quite stuck right now and do feel as if I can use this forum for information, but ultimately, I've to use the given information to formulate my own decision.
 

Jobless

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Really insightful and you're probably right. I do have to say that I still have lots to learn. But what you're writing doesn't sound easy; which obviously the book stated many times before. Would it be therefore be wiser to focus around more skills or is that still low-barrier for entry.

What I'm thinking about right now would be:
1. Focus on becoming an expert on one skill; (digital) marketing or web development.
2. Make a business that focuses on marketing and creating websites for businesses that are SEO friendly.
3. Whilst growing making interesting blog posts on the business website so that I can grow my reach through SEO.

However, I don't know if this would be a viable business plan and what I often want to do is first try to see if my service/product will sell before buying many things such as a complete website etc.

I feel quite stuck right now and do feel as if I can use this forum for information, but ultimately, I've to use the given information to formulate my own decision.
It's good to sell first, yes. Find where the demand is. I try to find a market where people are straight up making offers, they are willing to pay but unable to find the right service/product/brand. It may exist, but they don't know that. What I sell then pulls people in, I do not need to push it too hard through sales and marketing. It's good to start locally, like with your idea number 2, or to start within an online community/niche you are already a part of as idea number 3. Be quite specific and try to hone in on what works. This is how a combination of skills help you. Who is buying and what do they want? How to keep them as customers?
 
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