I read Millionaire Fastlane 10 years ago, finally trying to start an online business

[andyg0]

Hi everyone!
My name is Andy, I read the Millionaire Fastlane around 10 years ago when I was around 17 and followed the forum from time to time. I want to share my journey and how the book influenced it, this may be educational to some and I would appreciate any feedback too. I really enjoyed reading the progress threads posted here a while ago, hope I can make a good one too

I am originally from Ukraine, but got opportunity to get Economics education from a very good university in the UK. While studying I got interested in the concept of separating my time from my income (a.k.a passive income), read the Millionaire Fastlane , but excused myself from doing anything because I was on student visa.

Struggling to find a job in Economics because of my English and influenced by the book, I started learning programming in Python, and eventually managed to get a programming job in a Canadian bank. Since then, I have been working in machine learning/AI in Finance and Tech, and generally got pretty good with it. I was on worker visa for a while so still did not have an opportunity to start my own business.

Now I am a Canadian citizen, and I want to get a business going. While I was working full-time, I spent around 3 hours a day after work building some very technical side projects in AI, but none of them got any traction. This experience helped me to gain new skills and get more well-paid jobs.

I then decided to find a much simpler idea and work it till the end - i.e. try to market to people and try to sell something.
The problem for me was to find an idea. After thinking for couple of days, I decided that starting a business is an unnecessary hard process and I want to build a startup that will make starting a business easier.

I started building a social platform where people can share their dream product they can not find on the market. Soon I realised that the project was also hard to build, but persevered and launched an MVP. Since I did not have any plan on how to make money with the project, I tried to gain users without spending any money. What is the point of spending money to advertise something that does not make any money? I got 40 users to register in this way, but none stayed on the platform for longer than 2 days.

Now I am trying to build a monetisation channel and try to leverage some paid advertising to gain users for the platform and earn some money. I will try to sell market research reports for entrepreneurs who want to learn about their competitors and general market trends. I am working on building this functionality and will post here my progress once it is running and I start the marketing machine.

Sorry for the long post, and thank you for providing me motivation all these years to aim higher!

 

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. :-)