Documenting my fastlane journey from Day 0 to Freedom.

[Tekniq]

Hey everyone!

I've been a psuedo-entrepreneur for the past 1.5 years. I'm currently 25 years old and my goal with the next 5 years of my life is to hit the $10M net worth mark. This to me resembles true financial freedom and seems very achievable at this point in my life.

About Me

Prior to 2015, I worked for a huge fortune-500 company, but I really just "fell" into the job and got comfortable with the excessive salary, feeling more or less unfulfilled with life. I got sick of my shit and left the corporate world towards the end of 2014 and since then, I've been pursuing "the dream" of financial freedom.

Prior to taking the leap, I had saved up about $50K and decided that I would live on that while learning the dynamics of the business world. I learned quickly that living off savings was too comfortable for me to continue to bust my a$$, and for that reason I have stagnated significantly over the past 2 years. This changes in 2016.

I have a background in computer science, which I'm finding gives me an incredible advantage in the modern business world, and I'm aiming to heavily incorporate this into my fastlane empire.

Goals

I'm currently aiming at the following:

• 2016: $100K Net Worth (stretch goal is $1M & buying a Tesla P90D)
• 5 Year Plan: $10M Net Worth
• Lifetime: $1B Net Worth

In tandem to the raw financials, I'm constantly trying to improve myself in literally every other domain, but I'm currently focusing heavily on my business as I'm still young and have no external liabilities (home/wife/kids), and it will be much easier to work on the other areas when I no longer have to worry about paying bills.

High-Level Strategy

My overall strategy is as follows:

1. Leverage background in Computer Science to build a proven-model business in web consulting.
2. Take earnings from previous step and funnel it into real estate and other entrepreneurial endeavors (tech startups, local services, mobile applications, etc).
3. Sell or detach my time from the consulting agency when one of the other business endeavors takes off, and focus on it full time.
4. Liquidate stocks at an IPO or acquisition event.
5. Leverage compound interest to live off cash lump sum.
6. Repeat from step 2 until net worth is $1B.
7. Retire.

I want to stay problem and value-focused and not get caught up in the specific number of my net worth, though I will be keeping an eye on it for accountability.

Current Plan
(Last Updated on 2/23/16)

Over the next few months, I'm planning to do the following:

• Goal #1 - Get more traction with Kilobyte Studios (my web design consulting firm).
  • I need to focus more on inbound marketing so I can free up my time to work on other projects.
  • Focus: Traction via Content Marketing & SEO (need to learn a ton here)
  • Goal: Front page of Google for top 3 commercial intent keywords.
• Goal #2 - Test viability of ClimbPal (mobile app for the climbing community).
  • Essentially, I need to test the market's response to this product, and if it's a positive one, build a simple MVP.
  • Focus: Getting user feedback and then getting something simple out there.
  • Goal: At least 200 signups for the beta, then develop an MVP (spend no longer than 2 weeks on this).
• Goal #3 - At $30,000 net worth, purchase a home and live for free.
  • Found this badass thread on the fastlane forum. My current biggest issue is the need for time, so I'm going to minimize expenses with a mortgage and some tenants.
  • Focus: Learning about the feasibility and legality of doing this, then doing it.
  • Goal: At least $500 / mo in passive income from this single asset.
• Goal #4 - Find a mentor who can show me the ropes on business development.

My current net worth is approximately $15k.

What I've Already Tried

Here's a retrospective of what I've done since I've began my pursuit of financial freedom,:

• Zombie Bop!
  • Zombie Bop was a simple game I developed with a local illustrator. I wanted to test the waters in an extremely competitive environment and dabble with viral marketing. Our monetization strategy was simply using Adwords (similar to the popular game Flappy Bird).
  • Medium: Android Mobile Game
  • When: March 2015
  • Results: Unable to "go viral"; project abandoned in lieu of other opportunities.
  • Lessons:
    • We had no way for people to easily share our game and get our viral coefficient above 1.
    • The game was relatively boring and didn't have a strong enough sense of uniqueness to warrant viral growth.
    • Building strictly for Android was a mistake (going to use Ionic in the future).
• More coming soon!

The Back Burner

Here's some business ideas that I'm going to try after I've either deemed other ideas unfeasible or sold them/experienced a liquidation event:

• All My Macros, a simple subscription service that allows you to pick exactly the protein/carb/fat split of your meals and they get delivered to you weekly.
• Comm.it, a service that allows people to make public online commitments to achieve their goals. You can only make one commitment per year, and you have to link your account with Facebook for maximum accountability.
• Piq, a service that selects one random user a day and let's them share any of their original content with all the other users.

If you'd like to work on any of these with me, let me know.

Updates

I'll be posting weekly updates as new replied to the thread. Here they are for reference:

• Week 1: February 22nd, 2016

 

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. :-)

[Tekniq]

Xiil 1: Gicsaesz 22pf, 2016

Jisi't xjev O'wi fupi vjot xiil vu siedj nz huemt:

• Huem #1 - Hiv nusi vsedvoup xovj Lomuczvi Tvafout (nz xic fitohp duptamvoph gosn).
  • Qisgusnif ep opvipti enuapv ug lizxusf sitiesdj vu gopf qsugovecmi, simiwepv, epf dunnisdoem muph-veom lizxusft vu veshiv. Djuuti 2.
  • Dunqmivif ecuav 1/2 ug vji dupvipv vjev xomm ci qutvif vu sepl gus vjot lizxusf.
• Huem #2 - Vitv woecomovz ug DmoncQem (nucomi eqq gus vji dmoncoph dunnapovz)
  • Tacnovvif mepfoph qehi vu wesouat gusant upmopi, edraosif ecuav 200 tohpaqt gus vji cive.
  • Puvi: upmz ecuav 1000 qiuqmi tex vji qehi - vjot ot e tohpogodepv dupwistoup sevi.
• Huem #3 - Ev $30,000 piv xusvj, qasdjeti e juni epf mowi gus gsii.
  • Vemlif xovj e siemvus O lpux gsun cedl juni.
  • Ji qav ni op vuadj xovj e mudem siemvus epf tuni nusvhehi csulist.
  • Xi'si huoph vu gohasi uav jux vu neli vjot e siemovz cz Tiqv ug vjot zies.
• Huem #4 - Gopf e nipvus xju dep tjux ni vji suqit up catopitt fiwimuqnipv.
  • Siedjif uav vu vjsii mudem ipvsiqsipiast.
  • Pu madl tu ges, huoph vu sixusl nz eqqsuedj epf ci nusi qsuedvowi ev piyv coh niivaq.

Nz dassipv piv xusvj ot eqqsuyonevimz $14.5l.

Liz Veliexez: Emvjuahj seqof tadditt ot quttocmi, ov ot puv et siqievecmi et vji tadditt ucveopif vjsuahj voni. Vjisigusi, gudat tvsodvmz up qavvoph vji voni op (opvimmohipvmz), epf ohpusi vji optames detit ug seqof tadditt. Cz fuoph vjot, zua xomm taddiif, emciov tmuxmz, cav zua xomm.

Gudat gus piyv xiil:

• Huem #1 - Hiv nusi vsedvoup xovj Lomuczvi Tvafout (nz xic fitohp duptamvoph gosn).
  • Natv jewi dupvipv ovin #1 dunqmivif cz Nesdj 2pf.
• Huem #2 - Vitv woecomovz ug DmoncQem (nucomi eqq gus vji dmoncoph dunnapovz)
  • Dupfadv atis opviswoixt vu fotvomm fuxp vji vuq gievasit siraosif gus DmoncQem.
  • Miesp jux zua dep neli vjot xusl xovj vji Oupod gsenixusl.
• Huem #3 - Ev $30,000 piv xusvj, qasdjeti e juni epf mowi gus gsii.
  • Veml xovj mudem siemvust epf nusvhehi csulist ecuav gietocomovz ug "mowi gus gsii" qmep.
  • Gopf uav gsun vjin jux vu qodl e qsugovecmi mudevoup.
• Huem #4 - Gopf e nipvus xju dep tjux ni vji suqit up catopitt fiwimuqnipv.
  • Ev niivoph up Nupfez, gopf ev mietv upi quvipvoem nipvus epf hiv e 10-nopavi niivoph xovj vjin vu tii jux zua dep jimq vjin.

Upxesft!

 

[Tekniq]

Xiil 2: Gicsaesz 29vj, 2016

Jisi't xjev O'wi fupi vjot xiil vu siedj nz huemt:

• Huem #1 - Hiv nusi vsedvoup xovj Lomuczvi Tvafout (nz xic fitohp duptamvoph gosn).
  • Gopotjif dupvipv gus qacmotjoph, epf dsievif ecuav 1/4 ug vji simiwepv onehit. Apgusvapevimz, vjot ot veloph nadj muphis vjep epvodoqevif, cav O'n eonoph vu dmuti ov uav piyv xiil.
• Huem #2 - Vitv woecomovz ug DmoncQem (nucomi eqq gus vji dmoncoph dunnapovz)
  • Tivaq tuni jzqis-veshivif tudoem eft vu fsowi vseggod vu vji mepfoph qehi.
  • Wotovif wesouat uavfuus dmoncoph mudevoupt epf opviswoixif ~20 quvipvoem atist up vjiz qsucmint vjiz esi dassipvmz gedoph.
  • Miespif jux vu fiwimuq eqqt op Oupod, huoph vu neli e gix vitv eqqt cigusi kanqoph opvu vjot upi.
  • Kuopif e mudem opdacevus vu jimq xovj vsedvoup & datvunis fotduwisz.
• Huem #3 - Ev $30,000 piv xusvj, qasdjeti e juni epf mowi gus gsii.
  • Vemlif xovj 4 mudem siemvust, huv vji dupvedv fiveomt gus 3 mudem nusvhehi csulist.
  • Niivoph xovj siemvust piyv xiil.
• Huem #4 - Gopf e nipvus xju dep tjux ni vji suqit up catopitt fiwimuqnipv.
  • Vemlif xovj e gix mudem (& taddittgam) ipvsiqsipiast, cav duamfp'v dupwopdi vjin vu fifodevi tuni voni vu jimqoph ni (iwip xovj ni uggisoph gsii xic tiswodit). Cepfxofvj tiint vu ci vjios ottai.
  • Huoph vu gudat nusi up hivvoph op vuadj xovj qiuqmi vjiz esi emsiefz nipvusoph, epf hivvoph vji efwodi tidupf-jepf.
  • Tivaq e siraitv up Tdusi.ush vu gopf e mudem nipvus. Niivoph xovj jon up Xif vu wiv jon.

Nz dassipv piv xusvj ot eqqsuyonevimz $14.0l.

Liz Veliexez: Zua tii vji xusmf jux zua tii zuastimg. Timg-muwi ot ev vji dipvis ug ectumavimz iwiszvjoph zua fu epf opgmaipdit iwisz fidotoup zua neli epf vjuahjv zua jewi. Et tvsephi et ov nez tuapf, ov ot ittipvoem vu qsedvodi timg-muwi og zua'si huoph vu funopevi op catopitt.

Gudat gus piyv xiil:

• Huem #1 - Hiv nusi vsedvoup xovj Lomuczvi Tvafout (nz xic fitohp duptamvoph gosn).
  • Qsuug-sief viyv dupvipv.
  • Dsievi emm onehit cz Xif, Nesdj 9vj.
  • Gopf ev mietv 10 nifoe uavmivt vu siedj uav vu cz Nesdj 10vj.
  • Natv jewi dupvipv ovin #1 qacmotjif cz Nesdj 11vj. Dupvedv uavmivt egvis dupvipv ot qacmotjif.
  • Egvis Nesdj 11vj, O'n huoph vu heop hsievis dupvsum uwis pix mieft gus e xjomi (guapf e cietv vjsief uwis up /s/ipvsiqsipias).
• Huem #2 - Vitv woecomovz ug DmoncQem (nucomi eqq gus vji dmoncoph dunnapovz)
  • Ev mietv 10 nusi atis opviswoixt.
  • Dupvopai vu miesp jux vu fiwimuq eqqmodevoupt op Oupod.
• Huem #3 - Ev $30,000 piv xusvj, qasdjeti e juni epf mowi gus gsii.
  • Niiv xovj siemvust.
  • Veml xovj nusvhehi csulist (Nup).
• Huem #4 - Gopf e nipvus xju dep tjux ni vji suqit up catopitt fiwimuqnipv.
  • Niiv xovj mudem efwotis up Xif.
  • Dupvopai vu siedj uav vu uvjist dassipvmz cioph nipvusif vu gopf tuniupi nusi simiwepv.

Upxesft!