Hi all,
Thought I would jump in and give a bit of an introduction. I first heard about the millionaire fast lane maybe 3-4 years ago and starting listening to the book but never finished. I'm pretty sure I've posted on this forum before as well. It came at a time when I was pretty beat down in business so just couldn't pick myself back up (I wish I had learned to at that stage). Now at 32 it's time to push through.
Listening through the book I could relate to a lot of it having done multiple business ventures before but always giving up when the going got tough. The thing missing was my belief about time, I'd always thought oh well you know what I can do this or that tomorrow.
So where have come from. Growing up as a kid while others were dreaming of becoming famous I was dreaming about building a business, I remember thinking wouldn't it be cool if everyone had access to VR and explore a new world, how could I turn that into a business.
I then ventured into a few business the first was at 16 being mag wheels, there was this new trend in them but the few that were selling them were expensive so I thought why not try find some cheaper. I then went through and found suppliers in China and started to import them, this went well for 1 year increasing demand was there and we were optimizing distribution channels. Then it came a whole shipment of wheels with engineering defects, emailing was to no avail as the suppliers had disappeared so we cut our loses and got out, we did end up making about 10k which was a lot for a 16 year old but no where near my dream of wealth.
I then stopped business creation for the next 6 years. At this time my current girlfriend knew a lot of girls in the prostitution industry (it's legal over here) and they always complained about having to pay the place they worked so much money. So another problem to solve, I went about and sorted out some apartments to rent and charged out rooms by the hour. I ran the figures and after paying a madame and overheadsit came out at 4k per week with me spending 1-2 hours per week working on it. This lasted about a year while I squandered that money on trips and a nice apartment, after that year my girlfriend split with me and the girls she knew went with her. This again left me beat up over business. The next business venture came at 26 when a mate came to me with a problem he had in his current business, so again the solutions started to flow. He had noticed that it was overly difficult to keep track of sub contractors etc on a construction job. So we set of to develop an app to solve the problem. Working 2-3 hours every night after work and 6 hours a day during the weekend I coded away. After 8 months I had a working app then about a week later my mate came to me and told me of a competitor that had just launched and looking through their app the design was so much better than ours so again I gave up. I found out two years later that competitors company was worth 60 million.
This leads me to where I am now 5 years after that attempt at an app I've seen my parents get older and start to enjoy their slow lane fruits at 65 and my brother at 26 start his first fastlane business (he hasn't read the book). It's given me a new motivation to get out and start to develop a life where I can be financially free.
So what have I learnt through all of this
* I'm no stranger to process
* I hate the slowlane and the fact I can't be free to do what I want with my time
* push through and stick with the process I could have been that 60 million dollar business if I had stuck with the process
* Don't be afraid to spend some money - I'm no good at design but I can code to a degree so focus on my strengths (coding) and outsource what I'm not good at (design)
* Most importantly take action you don't get anywhere without taking consistent action (process)
So where to from here
* Read and learn - I've cut out my mobile games on my bus ride to and from work to read. first the millionaire fastlane then unscripted
* Find a problem
* start taking steps toward solving that problem
* build a business system
That's all for now.
Thought I would jump in and give a bit of an introduction. I first heard about the millionaire fast lane maybe 3-4 years ago and starting listening to the book but never finished. I'm pretty sure I've posted on this forum before as well. It came at a time when I was pretty beat down in business so just couldn't pick myself back up (I wish I had learned to at that stage). Now at 32 it's time to push through.
Listening through the book I could relate to a lot of it having done multiple business ventures before but always giving up when the going got tough. The thing missing was my belief about time, I'd always thought oh well you know what I can do this or that tomorrow.
So where have come from. Growing up as a kid while others were dreaming of becoming famous I was dreaming about building a business, I remember thinking wouldn't it be cool if everyone had access to VR and explore a new world, how could I turn that into a business.
I then ventured into a few business the first was at 16 being mag wheels, there was this new trend in them but the few that were selling them were expensive so I thought why not try find some cheaper. I then went through and found suppliers in China and started to import them, this went well for 1 year increasing demand was there and we were optimizing distribution channels. Then it came a whole shipment of wheels with engineering defects, emailing was to no avail as the suppliers had disappeared so we cut our loses and got out, we did end up making about 10k which was a lot for a 16 year old but no where near my dream of wealth.
I then stopped business creation for the next 6 years. At this time my current girlfriend knew a lot of girls in the prostitution industry (it's legal over here) and they always complained about having to pay the place they worked so much money. So another problem to solve, I went about and sorted out some apartments to rent and charged out rooms by the hour. I ran the figures and after paying a madame and overheadsit came out at 4k per week with me spending 1-2 hours per week working on it. This lasted about a year while I squandered that money on trips and a nice apartment, after that year my girlfriend split with me and the girls she knew went with her. This again left me beat up over business. The next business venture came at 26 when a mate came to me with a problem he had in his current business, so again the solutions started to flow. He had noticed that it was overly difficult to keep track of sub contractors etc on a construction job. So we set of to develop an app to solve the problem. Working 2-3 hours every night after work and 6 hours a day during the weekend I coded away. After 8 months I had a working app then about a week later my mate came to me and told me of a competitor that had just launched and looking through their app the design was so much better than ours so again I gave up. I found out two years later that competitors company was worth 60 million.
This leads me to where I am now 5 years after that attempt at an app I've seen my parents get older and start to enjoy their slow lane fruits at 65 and my brother at 26 start his first fastlane business (he hasn't read the book). It's given me a new motivation to get out and start to develop a life where I can be financially free.
So what have I learnt through all of this
* I'm no stranger to process
* I hate the slowlane and the fact I can't be free to do what I want with my time
* push through and stick with the process I could have been that 60 million dollar business if I had stuck with the process
* Don't be afraid to spend some money - I'm no good at design but I can code to a degree so focus on my strengths (coding) and outsource what I'm not good at (design)
* Most importantly take action you don't get anywhere without taking consistent action (process)
So where to from here
* Read and learn - I've cut out my mobile games on my bus ride to and from work to read. first the millionaire fastlane then unscripted
* Find a problem
* start taking steps toward solving that problem
* build a business system
That's all for now.
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