This is part 2 of the Absolute Beginners Guide to TMF & TFLF
Part 1 found here: https://www.thefastlaneforum.com/community/threads/absolute-beginners-guide-to-tmf-tflf.54998/
How To Add Value
So, you want to put the principles in the Millionaire Fast Lane to work?
No idea how to start? No problem, stick around. Ill walk you through some simple ways to get your creative juices flowing.
Fill a Need
Ever look for a solution that doesn't exist? Chances are someone else has the same problem! If you can find a way to fill that need your idea/invention could be worth millions! Look at @Likwid24, he couldn't find a cover for his paint brush, so he decided to make one! Full story here: https://www.thefastlaneforum.com/co...-progress-thread-the-paint-brush-cover.30969/ (note: INSIDERS required)
He even got investors from Shark Tank (fast forward to 31:31)
Improve a Solution
So what if there's already a solution but its just not good enough. Improve on it!
SalesForce founder Mar Benioff thought the CRM's that existed didn't give business owners the solutions they needed. So he decided to make his own, and created SalesForce, now valued at 46 Billion dollars, in less than a few years.
Combine Solutions
Another way to add value is to combine solutions. People get hungry/thirsty at sporting events, so arena owners make MILLIONS every year since they are combining solutions. Movie theaters sell popcorn, candy, sodas all to make your viewing more pleasurable. People will pay money to be better suited.
If you own a hot dog stand for example, you can increase revenue by offering water bottles since people get thirsty after eating.
So what do all these have in common?
Helping people. When you start to put yourself in the customers shoes you can begin to see around the corner and start profiting.
Part 2 of the Frequent Questions and Answers
11. Can I get rich off Forex/Poker/Day Trading?
Sure you can! Lots of people make a comfortable living doing this kind of work. Unfortunately, the Fast Lane forum isn't the right place to find people in these fields. Fast Lane folks generally care about helping people/making their life easier. Our practice is not gambling, our practice is a science.
12. Where can I find funding for my fast lane ideas?
If you've tested your idea on a small scale and had small success, Congrats! Now how do you scale up?
Well you have a couple of options
Credit Cards
Giving Up Equity
Personal Loans
Business Grants/Loans
Kickstarter
Boot strapping
I can go further into how to raise money if you guys need ideas. I can also teach you how to pitch your product to investors. Don't be afraid to reach out to me!
13. Should I buy a business?
Great question! A lot of us are talented in many aspects of business but starting isn't one of them.
Similar to how you can "flip" real estate, you can also flip businesses. You can purchase Turn-Key businesses that have all the systems in place, they just need you to work them. However, you should beware of buying businesses.
Will you end up being self-employed?
Could there be something wrong with it? (i.e not profitable)
Is there a limit to how much you can make?
Are you at the mercy of the franchiser ?
As well as many barriers of entry
Good credit
Some cash
College Degree in business or related field
14. Can you guys help me with: website, logo, etc?
Lots of members here are very talented with graphics/design work, but remember their time isn't free. You can also look into outsourcing at:
Fiverr.com
odesk.com
elance.com
15. I need motivation. Help!
https://www.thefastlaneforum.com/community/forums/mindset-motivation-choices.48/
https://www.thefastlaneforum.com/community/threads/this-is-why-you-are-stuck.53188/
https://www.thefastlaneforum.com/co...te-time-and-money-playing-entrepreneur.53375/
https://www.thefastlaneforum.com/community/threads/100th-post-who-wants-to-get-lucky.54474/
Important Links
You can find a copy of forum rules here: https://www.thefastlaneforum.com/community/pages/about/
Fastlane INSIDERS: https://www.thefastlaneforum.com/community/pages/fastlane-insiders/
Advertise on TFLF: https://www.thefastlaneforum.com/community/pages/advertise/
Useful threads compiled: https://www.thefastlaneforum.com/community/threads/useful-threads-and-resources-compiled.54394/
Part 1 found here: https://www.thefastlaneforum.com/community/threads/absolute-beginners-guide-to-tmf-tflf.54998/
How To Add Value
So, you want to put the principles in the Millionaire Fast Lane to work?
No idea how to start? No problem, stick around. Ill walk you through some simple ways to get your creative juices flowing.
Fill a Need
Ever look for a solution that doesn't exist? Chances are someone else has the same problem! If you can find a way to fill that need your idea/invention could be worth millions! Look at @Likwid24, he couldn't find a cover for his paint brush, so he decided to make one! Full story here: https://www.thefastlaneforum.com/co...-progress-thread-the-paint-brush-cover.30969/ (note: INSIDERS required)
He even got investors from Shark Tank (fast forward to 31:31)
Improve a Solution
So what if there's already a solution but its just not good enough. Improve on it!
SalesForce founder Mar Benioff thought the CRM's that existed didn't give business owners the solutions they needed. So he decided to make his own, and created SalesForce, now valued at 46 Billion dollars, in less than a few years.
Combine Solutions
Another way to add value is to combine solutions. People get hungry/thirsty at sporting events, so arena owners make MILLIONS every year since they are combining solutions. Movie theaters sell popcorn, candy, sodas all to make your viewing more pleasurable. People will pay money to be better suited.
If you own a hot dog stand for example, you can increase revenue by offering water bottles since people get thirsty after eating.
So what do all these have in common?
Helping people. When you start to put yourself in the customers shoes you can begin to see around the corner and start profiting.
Part 2 of the Frequent Questions and Answers
11. Can I get rich off Forex/Poker/Day Trading?
Sure you can! Lots of people make a comfortable living doing this kind of work. Unfortunately, the Fast Lane forum isn't the right place to find people in these fields. Fast Lane folks generally care about helping people/making their life easier. Our practice is not gambling, our practice is a science.
12. Where can I find funding for my fast lane ideas?
If you've tested your idea on a small scale and had small success, Congrats! Now how do you scale up?
Well you have a couple of options
Credit Cards
Giving Up Equity
Personal Loans
Business Grants/Loans
Kickstarter
Boot strapping
I can go further into how to raise money if you guys need ideas. I can also teach you how to pitch your product to investors. Don't be afraid to reach out to me!
13. Should I buy a business?
Great question! A lot of us are talented in many aspects of business but starting isn't one of them.
Similar to how you can "flip" real estate, you can also flip businesses. You can purchase Turn-Key businesses that have all the systems in place, they just need you to work them. However, you should beware of buying businesses.
Will you end up being self-employed?
Could there be something wrong with it? (i.e not profitable)
Is there a limit to how much you can make?
Are you at the mercy of the franchiser ?
As well as many barriers of entry
Good credit
Some cash
College Degree in business or related field
14. Can you guys help me with: website, logo, etc?
Lots of members here are very talented with graphics/design work, but remember their time isn't free. You can also look into outsourcing at:
Fiverr.com
odesk.com
elance.com
15. I need motivation. Help!
https://www.thefastlaneforum.com/community/forums/mindset-motivation-choices.48/
https://www.thefastlaneforum.com/community/threads/this-is-why-you-are-stuck.53188/
https://www.thefastlaneforum.com/co...te-time-and-money-playing-entrepreneur.53375/
https://www.thefastlaneforum.com/community/threads/100th-post-who-wants-to-get-lucky.54474/
Important Links
You can find a copy of forum rules here: https://www.thefastlaneforum.com/community/pages/about/
Fastlane INSIDERS: https://www.thefastlaneforum.com/community/pages/fastlane-insiders/
Advertise on TFLF: https://www.thefastlaneforum.com/community/pages/advertise/
Useful threads compiled: https://www.thefastlaneforum.com/community/threads/useful-threads-and-resources-compiled.54394/
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Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
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