Hi all,
I just finished reading The Millionaire Fastlane .
I think that it's among the best books that I have ever read and the reason it's that it's saying what the average chump is afraid.
I am a Software Engineer and from age 14 my goal was to own my own company and became a millionaire young enough to enjoy the freedom.
I am 31 years old and unfortunately, it's getting harder because you have more responsibilities than a 20 years old guy (rent, apartment expenses, social expenses).
Last 30 years I was a sidewalker! No savings, living paycheck to paycheck and one salary away from financial disaster. This year I decided that I had to get my sh*t together and I transitioned to slow lane. Not the investing part but cutting a lot of unnecessary expenses, coupons, etc.
The reason is that I need savings because I may need to quit my job to build my FastLane business, and you know things probably won't work well at the very first months of a company.
At the moment I am a full-time Mobile developer at a company and after work, I am freelancing (iOS/Android and WebApps) for a company (that I used to work ). The reason for the freelancing (other than money) it's that I believe that I will find an opportunity to build a product for a company, get paid, then modify it and resell it to other companies with minimum effort or I will get a chance to build something bigger. As @MJ DeMarco says you will get lucky if you are "doing something" and not watching TV by the couch.
Anyway, I would like your input on this:
I have a client that organizes events. They already using software that costs them $300 (on average per event) and they need me to develop a new web app tailored to their needs. They have 80 events per year and they are using the software on 40 of them. The software will cost $30k (I am not paying anything other my man hours). So that means that I will break even in 3 years.
So I have 3 options: (if you can think another option please let me know):
1) Develop an MVP with core features (without signup views and some other views that will make the web app more dynamically to be used by other clients in the future) with the cost reduced to $15k
and get the most only from this client.
2) Develop the full feature software which it will cost $30k but it can be sold to other clients and create a product.
3) Look for another chance since this will take me more than 6 months (working after a full-time job).
Normally, I would go with option 2 but the event software market it's saturated and since I am not the best in UI/UX (for websites) I don't believe that I can offer something better than current software.
Let me know your thoughts!
I just finished reading The Millionaire Fastlane .
I think that it's among the best books that I have ever read and the reason it's that it's saying what the average chump is afraid.
I am a Software Engineer and from age 14 my goal was to own my own company and became a millionaire young enough to enjoy the freedom.
I am 31 years old and unfortunately, it's getting harder because you have more responsibilities than a 20 years old guy (rent, apartment expenses, social expenses).
Last 30 years I was a sidewalker! No savings, living paycheck to paycheck and one salary away from financial disaster. This year I decided that I had to get my sh*t together and I transitioned to slow lane. Not the investing part but cutting a lot of unnecessary expenses, coupons, etc.
The reason is that I need savings because I may need to quit my job to build my FastLane business, and you know things probably won't work well at the very first months of a company.
At the moment I am a full-time Mobile developer at a company and after work, I am freelancing (iOS/Android and WebApps) for a company (that I used to work ). The reason for the freelancing (other than money) it's that I believe that I will find an opportunity to build a product for a company, get paid, then modify it and resell it to other companies with minimum effort or I will get a chance to build something bigger. As @MJ DeMarco says you will get lucky if you are "doing something" and not watching TV by the couch.
Anyway, I would like your input on this:
I have a client that organizes events. They already using software that costs them $300 (on average per event) and they need me to develop a new web app tailored to their needs. They have 80 events per year and they are using the software on 40 of them. The software will cost $30k (I am not paying anything other my man hours). So that means that I will break even in 3 years.
So I have 3 options: (if you can think another option please let me know):
1) Develop an MVP with core features (without signup views and some other views that will make the web app more dynamically to be used by other clients in the future) with the cost reduced to $15k
and get the most only from this client.
2) Develop the full feature software which it will cost $30k but it can be sold to other clients and create a product.
3) Look for another chance since this will take me more than 6 months (working after a full-time job).
Normally, I would go with option 2 but the event software market it's saturated and since I am not the best in UI/UX (for websites) I don't believe that I can offer something better than current software.
Let me know your thoughts!
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