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Hi all,
I just read the Millionaire Fastlane , which brought me here. I somewhat was already seeking the Fastlane, but didn't a few mistakes that were that became clear/more clear after reading the book.
I am 28 & live in Germany. I studied International Business Management and I am a self-taught Software Developer. My university is the Mekka for Entrepreneurs in Germany & Europe. Out of 1000 students 1.4 become Unicorn founders, which puts it at the top spot in the world in regards to that metric. Since it's a small, business only university in a small town, the community is extremely close knit (think big fraternity).
What I am trying to say with the above paragraph is that so far I think I am well set up for a fastlane success.
I recently started two business.
With the first I made a devastating mistake of being way to confident and greedy and took a loan of €100.000. That business went nowhere.
The other business is doing ok. I was actually put in place from day 1 as operative CEO with a 16% share vested over 4 years, however there were several setup mistakes I realized down the road:
1. I didn't really have control. The other 84% were held by two serial entrepreneurs, that were very close, one of which liked to micromanage.
2. There wasn't really a need for the product we tried selling. It was all built on efficient marketing. That's fine, but if there really was a need for the product, it would have been so much easier.
I was able to leave the business after a bit over a year and keep ~4%. Let's see, maybe it will return something in the future.
With the mistakes and learnings and newly won free time on my hands, I now have the chance to do it better this time.
I really have empty pockets right now + the debt. I am not to worried about it, bc I do believe that €100.000 will be insignificant compared to my earnings in the long run.
For now though, I will move back in with my parents to cut my expenses, so I don't have to work much time on some job just to pay my bills.
Over the next months I plan to explore and analyze some ideas and will go connect a lot with my alumni network to see what opportunities pop up. I was also thinking about starting an agency business either in Marketing or Software so I am building something before I have the one thing that really fulfills all the 5 commandments (CENTS), as an agency business does violate the commandment of Entry and scores poorly on Scaling.
That's a bit about me. I am looking forward to connect here and I will keep you updated if there is something exciting happening.
Cheers
I just read the Millionaire Fastlane , which brought me here. I somewhat was already seeking the Fastlane, but didn't a few mistakes that were that became clear/more clear after reading the book.
I am 28 & live in Germany. I studied International Business Management and I am a self-taught Software Developer. My university is the Mekka for Entrepreneurs in Germany & Europe. Out of 1000 students 1.4 become Unicorn founders, which puts it at the top spot in the world in regards to that metric. Since it's a small, business only university in a small town, the community is extremely close knit (think big fraternity).
What I am trying to say with the above paragraph is that so far I think I am well set up for a fastlane success.
I recently started two business.
With the first I made a devastating mistake of being way to confident and greedy and took a loan of €100.000. That business went nowhere.
The other business is doing ok. I was actually put in place from day 1 as operative CEO with a 16% share vested over 4 years, however there were several setup mistakes I realized down the road:
1. I didn't really have control. The other 84% were held by two serial entrepreneurs, that were very close, one of which liked to micromanage.
2. There wasn't really a need for the product we tried selling. It was all built on efficient marketing. That's fine, but if there really was a need for the product, it would have been so much easier.
I was able to leave the business after a bit over a year and keep ~4%. Let's see, maybe it will return something in the future.
With the mistakes and learnings and newly won free time on my hands, I now have the chance to do it better this time.
I really have empty pockets right now + the debt. I am not to worried about it, bc I do believe that €100.000 will be insignificant compared to my earnings in the long run.
For now though, I will move back in with my parents to cut my expenses, so I don't have to work much time on some job just to pay my bills.
Over the next months I plan to explore and analyze some ideas and will go connect a lot with my alumni network to see what opportunities pop up. I was also thinking about starting an agency business either in Marketing or Software so I am building something before I have the one thing that really fulfills all the 5 commandments (CENTS), as an agency business does violate the commandment of Entry and scores poorly on Scaling.
That's a bit about me. I am looking forward to connect here and I will keep you updated if there is something exciting happening.
Cheers
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