ZF Lee
Silver Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
LEGACY MEMBER
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Alright, just as I said. I would post some results from my Reddit tests.
It seems that the folks need to see something tangible. I still will need to develop a cheap prototype and have 50-100 batches.
I spotted a competing product being used by someone from today's meeting. I borrowed it for a while and tried using it. Not as good. Needs modification, and perhaps a bit on the aesthetics. I was flabbergested to find it priced at RM50. RM50??? You could buy a good dinner with that. Should knock it down to a fraction of the price. Underpricing can perhaps be a good secondary value attribute as long as it begins at the start of a sales funnel.
Speaking of sales funnels, I started studying up on the sales funnels of different companies in other industries. Do their products match? Are they complementary? What do the blogger pundits say about them? I even checked up some of their developments on the Wayback machine to see progress in action. Oddly, my field doesn't have visible sales funnels even with decent e-commerce storefronts. I wonder why.
I have been spending more time on diesel and coffee, courtesy of meetup.com.
Literally. I just order drinks instead of food, so that I can listen to people talk and take notes.
Coming back from this odd thread of mine...
RANT - Just When I Thought I Had it all Figured Out....
..I mentioned how in my first forays into meetup.com, I ran into another Amway trap and was fortunate to get out alive.
Today, I went to TWO meetups.
The first was a morning meeting for a money management meetup.
I met a guy working with Great Eastern insurance company and another younger college guy who did a banking and finance degree.
They discussed a rather Slowlane method of saving and planning, but I found it sound as they discouraged rash spending on speculative investing and urging me to develop a 'million dollar skill' to scale up, possibly in a biz.
Then they suggested to me an evergreen market to start out from ,which many professional like doctors and lawyers had joined for the networking. God knows what....it was selling INSURANCE....
The folks weren't pushy, but discussed matters in an educational way, which I'll give them credit for. They explained that:
1. The professional folks that come by can network and get referrals or industry know-how from each other.
2. Selling insurance is protection against uncertainty. In fact, it is merely a concept, not a product.
They invited me to pop by at their office to see how they do stuff and even a free entrance to one of their weekly meetings. I promised I would find time to hop by, for the sake of connections. Never know when you will need insurance folks.
Around the last few minutes, some crypto guy from Belarus popped by at the meeting. He started telling his long tale on working with some other blockchain folks looking to produce some open-source platform with more accurate popularity or ranking systems. Once he started pouring the jargon, the insurance guys said bye and left lol.
The guy spoke rather liberally, so I chatted with him for an hour while he worked on a Github article to explain how to fix a certain issue. There were many things we talked, but he recommended me a book called 'Doughnut Economics'. Later, I saw some videos on it, and found that it talked on some falsities of modern economical theories, as well as some suggestions to ammend that.
Later at night, I met with a group of REAL entrepreneurs for the first time in a long while. With REAL businesses. Some did property. Some did apps catering to Chinese folks. One did event organization. One did counselling for MNCs and government companies. We shared business tales, personal choices and lots of others that Fastlaners like to discuss here in this very forum. I recorded LOTS of insights from our discussions, some probably helpful to know them a tad better for upcoming meetups.
When I mentioned my work on Upwork, one of the folks took interest in it. I got a gig from him to help him out with a clipart biz selling pics for US teachers to put on kids' worksheets. The guy said it was more of a hobby to him now as he was too lazy to up the social media marketing. The guy actually asked me to be his PARTNER for that, but I told him to just get me on a contractual basis at first.
Weird. Why ask a stranger to partner up?
So things to look into:
1. Chart some time to work with the clipart guy-prepping some invoices and revving up the Wave accounting app
2. Get a prototype done and some more accurate market hypothesis to benchmark from for further testing
3. Sell off some college books for some quick capital and buy some cheaper second-hand books for my upcoming uni sem
It seems that the folks need to see something tangible. I still will need to develop a cheap prototype and have 50-100 batches.
I spotted a competing product being used by someone from today's meeting. I borrowed it for a while and tried using it. Not as good. Needs modification, and perhaps a bit on the aesthetics. I was flabbergested to find it priced at RM50. RM50??? You could buy a good dinner with that. Should knock it down to a fraction of the price. Underpricing can perhaps be a good secondary value attribute as long as it begins at the start of a sales funnel.
Speaking of sales funnels, I started studying up on the sales funnels of different companies in other industries. Do their products match? Are they complementary? What do the blogger pundits say about them? I even checked up some of their developments on the Wayback machine to see progress in action. Oddly, my field doesn't have visible sales funnels even with decent e-commerce storefronts. I wonder why.
I have been spending more time on diesel and coffee, courtesy of meetup.com.
Literally. I just order drinks instead of food, so that I can listen to people talk and take notes.
Coming back from this odd thread of mine...
RANT - Just When I Thought I Had it all Figured Out....
..I mentioned how in my first forays into meetup.com, I ran into another Amway trap and was fortunate to get out alive.
Today, I went to TWO meetups.
The first was a morning meeting for a money management meetup.
I met a guy working with Great Eastern insurance company and another younger college guy who did a banking and finance degree.
They discussed a rather Slowlane method of saving and planning, but I found it sound as they discouraged rash spending on speculative investing and urging me to develop a 'million dollar skill' to scale up, possibly in a biz.
Then they suggested to me an evergreen market to start out from ,which many professional like doctors and lawyers had joined for the networking. God knows what....it was selling INSURANCE....
The folks weren't pushy, but discussed matters in an educational way, which I'll give them credit for. They explained that:
1. The professional folks that come by can network and get referrals or industry know-how from each other.
2. Selling insurance is protection against uncertainty. In fact, it is merely a concept, not a product.
They invited me to pop by at their office to see how they do stuff and even a free entrance to one of their weekly meetings. I promised I would find time to hop by, for the sake of connections. Never know when you will need insurance folks.
Around the last few minutes, some crypto guy from Belarus popped by at the meeting. He started telling his long tale on working with some other blockchain folks looking to produce some open-source platform with more accurate popularity or ranking systems. Once he started pouring the jargon, the insurance guys said bye and left lol.
The guy spoke rather liberally, so I chatted with him for an hour while he worked on a Github article to explain how to fix a certain issue. There were many things we talked, but he recommended me a book called 'Doughnut Economics'. Later, I saw some videos on it, and found that it talked on some falsities of modern economical theories, as well as some suggestions to ammend that.
Later at night, I met with a group of REAL entrepreneurs for the first time in a long while. With REAL businesses. Some did property. Some did apps catering to Chinese folks. One did event organization. One did counselling for MNCs and government companies. We shared business tales, personal choices and lots of others that Fastlaners like to discuss here in this very forum. I recorded LOTS of insights from our discussions, some probably helpful to know them a tad better for upcoming meetups.
When I mentioned my work on Upwork, one of the folks took interest in it. I got a gig from him to help him out with a clipart biz selling pics for US teachers to put on kids' worksheets. The guy said it was more of a hobby to him now as he was too lazy to up the social media marketing. The guy actually asked me to be his PARTNER for that, but I told him to just get me on a contractual basis at first.
Weird. Why ask a stranger to partner up?
So things to look into:
1. Chart some time to work with the clipart guy-prepping some invoices and revving up the Wave accounting app
2. Get a prototype done and some more accurate market hypothesis to benchmark from for further testing
3. Sell off some college books for some quick capital and buy some cheaper second-hand books for my upcoming uni sem
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today