My long journey to the fastlane

[The Irish Guy]

Hey,

I've just registered here and I'm finding it a fantastic source for the type of information I need for the next step of my plan so here's my story.

I'm a serial entrepreneur, I have been running my own business's for the last 13 years since I was 19. I just always knew school wasn't for me even though both my parents were teachers, I actually left school without telling my parents when I was 16, I used to go out in my school uniform every morning and go to the gym instead and then to work for the day in Burger King! When I came home at 8 or 9 they believed I was just working 4-8 after school... It wasn't pretty when they found out hadn't been in school but I was old enough to legally leave so they couldn't really do anything about it. I left home a little while after that so I've been independent for a long time.

I always loved working out and lifting weights, when I was 19 I was working as security at a nightclub when a gym beside the club closed down. The old tenant hadn't kept up with rent payments and the landlord had changed the locks with all the tenants equipment still inside! I was able to rent the gym with all the equipment already in it, the gym closure was so unexpected there was still members bags in the lockers! The fact that the old tenant hadn't been able to keep up with rent payments should have been the first warning sign but I was very headstrong and nothing would have convinced me to not open that gym and realise a dream of owning my own business that I'd had since I was a kid. I still have that first gym but I don't think it's ever even paid me back my initial investment but it showed me opportunities which you cant put a value on! I run it as a non profit organisation for the local area, we have moved to a much bigger premises and have a boxing ring and lots of fun toys but its not what you'd call a business!

My first profitable business was a health food shop, I'm from Dublin, Ireland and back in 2004 there was only one sports supplement shop in the entire city. It was also on the wrong side of the city so I saw an opportunity. I was still working as security in clubs and the owners of one of the clubs I worked for owned a few buildings around the area I thought would be perfect for a shop. They agreed to rent me a tiny shop, only 80sq ft but from day one it was fantastic! For 3-4 years business was great, I was the only shop on that side of the city for maybe 3 years and internet sales hadn't really taken off yet. From the profits of the shop I opened a much bigger gym around the corner and the two fed each other, eg, people would come into the shop which was on the main street and ask which was the best gym to join and also all the members of the gym would buy their supplements from me, it was a nice little eco-system! But I knew the gym business by then and my intention wasn't to get rich from opening a second gym...

I noticed another gap in the market for a high value product which I initially imported from the US but after a few years started getting made direct in China.

The equipment sales business was fantastic and with the leverage of bulk buying direct from China and my focus on this business and it was really good to me. I did what so many people advise against doing and bought my first 100k+ car at age 25 and don't regret a thing, I had worked very hard for years and that car still makes me smile every day I drive it! I grew fast and moved warehouse 4 times in the 4 years, business was and thankfully still is great but I was very much the centre of that business. I got caught in the property price bubble of Dublin and the warehouse I rented in 2008 was far too expensive but I survived it... I realised that, while I had a great business I couldn't really remove myself from it as it was my expertise that was generally winning the business. If I went away for a week the holiday would cost 2k but the warehouse rent was 2k a week, plus loss of earnings while I was away might be another 3k so it ended up a very costly holiday...

Ireland only has a population of 4 million, I couldn't really scale a huge amount, I was number one in my niche but I only ever had one employee and even then there often wasn't enough work for both of us... My magnitude was good but I couldn't really remove myself from the equation and have freedom which was my real goal.

I came up with a fastlane plan in 2009, I knew that this idea had massive potential, I knew how popular doorway pullup bars were in the US...

I searched online and to my surprise I didn't find anything similar. I envisioned how it could work and drove down to my warehouse at midnight to cut up parts of a pullup bar to modify it. I brought it home and put it in the doorway and it worked exactly as I imagined, from that day I really believed that I'll retire from this idea and while I haven't made my millions yet I still believe it!

I had always just bought existing equipment from China, never got anything new made but after a few trips over and back I had a factory who were confident in making it the way I wanted. I knew the best selling pullup bar had used infomercials to drive most of it's volume so I decided an infomercial would be good, also I decided a celebrity would be good to get it out there. I had a shortlist of 4 people, I actually verbally agreed a deal with Mike Tyson and his wife but ended up not being able to agree the specifics with his attorneys.

I was so sure that it would be successful that I think I made the first really big mistake in my career, I leased out my equipment sales business which was very profitable in order for me to be able to focus 100% on launching the new business. Unfortunately the guys who leased the business from me didn't do a very good job...

I started selling the pullup bar in 2012, I ordered 500 units initially and they were all perfect. Then 1000 and same again not a single problem. Then when the infomercial was finished and I had done some testing with online advertising to sell the first 1500 I ordered 3000 units and put the infomercial on TV. Unfortunately some dopey worker had set the hole punch for 25mm bars when mine are 30mm and every one of the 3000 units were junk... Along with this it only became apparent that my credit card processing was a problem because I was based in Ireland and it was raising a security flag on about 30% of the orders. Long story short I had all my money tied up in stock I couldn't sell and the guys who had taken over my irish business were running it into the ground... It was the perfect storm which nearly bankrupt me but I've spent 3 long years fighting to get back to where I was, I'm glad to say I'm finally ready to launch again!

I took my Irish business back and, despite 3 new competitors who probably only opened up because they saw I was struggling, I have managed to become the number one again. I also managed to keep paying storage on the faulty units and shipping for replacement parts to make them good. Right now I have 5000 good units in two fulfillment warehouses (one on each coast), 2 factories with experience manufacturing it incase I have any problems with one and a healthy cash reserves ready to fund a media drive. Also I just got word from the USPTO and after 5 years my patent was finally granted last month!

I only read the MFL book last week but I absolutely loved it, I've come to the exact same conclusions after over a decade of slugging it out and trying different business models, I think with the pullup bar I have every element down and I'll retire from it!!

 

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. :-)

[Andy Black]

Hsiev tvusz, vjeplt gus tjesoph. O muwi vji jatvmi. Emtu, vji duptotvipdz ... pu kanqoph esuapf gsun upi vjoph vu vji piyv. Katv e tviefz "uxpoph" zuas podji epf vjip tiioph ep uqqusvapovz op ov cideati zua lpux ov tu ximm.

Tdesiz vjev "qisgidv tvusn", epf jux upi tnemm foggisipdi civxiip 25nn epf 35nn dep piesmz csiel zua.

Muuloph gusxesf vu jiesoph jux zuas Tjensudl hzn huit.

IFOV: Tu zuas dimic't taspeni ot Tjensudl, epf zua'si gsun Osimepf? Exituni...

 

[oimate]

Jiz,

O'wi katv sihotvisif jisi epf O'n gopfoph ov e gepvetvod tuasdi gus vji vzqi ug opgusnevoup O piif gus vji piyv tviq ug nz qmep tu jisi't nz tvusz.

O'n e tisoem ipvsiqsipias, O jewi ciip sappoph nz uxp catopitt't gus vji metv 13 ziest topdi O xet 19. O katv emxezt lpix tdjuum xetp'v gus ni iwip vjuahj cuvj nz qesipvt xisi viedjist, O edvaemmz migv tdjuum xovjuav vimmoph nz qesipvt xjip O xet 16, O atif vu hu uav op nz tdjuum apogusn iwisz nuspoph epf hu vu vji hzn optvief epf vjip vu xusl gus vji fez op Cashis Loph! Xjip O deni juni ev 8 us 9 vjiz cimoiwif O xet katv xusloph 4-8 egvis tdjuum... Ov xetp'v qsivvz xjip vjiz guapf uav jefp'v ciip op tdjuum cav O xet umf ipuahj vu mihemmz miewi tu vjiz duamfp'v siemmz fu epzvjoph ecuav ov. O migv juni e movvmi xjomi egvis vjev tu O'wi ciip opfiqipfipv gus e muph voni.

O emxezt muwif xusloph uav epf mogvoph xiohjvt, xjip O xet 19 O xet xusloph et tidasovz ev e pohjvdmac xjip e hzn citofi vji dmac dmutif fuxp. Vji umf vipepv jefp'v liqv aq xovj sipv qeznipvt epf vji mepfmusf jef djephif vji mudlt xovj emm vji vipepvt iraoqnipv tvomm optofi! O xet ecmi vu sipv vji hzn xovj emm vji iraoqnipv emsiefz op ov, vji hzn dmutasi xet tu apiyqidvif vjisi xet tvomm nincist ceht op vji mudlist! Vji gedv vjev vji umf vipepv jefp'v ciip ecmi vu liiq aq xovj sipv qeznipvt tjuamf jewi ciip vji gostv xespoph tohp cav O xet wisz jieftvsuph epf puvjoph xuamf jewi dupwopdif ni vu puv uqip vjev hzn epf siemoti e fsien ug uxpoph nz uxp catopitt vjev O'f jef topdi O xet e lof. O tvomm jewi vjev gostv hzn cav O fup'v vjopl ov't iwis iwip qeof ni cedl nz opovoem opwitvnipv cav ov tjuxif ni uqqusvapovoit xjodj zua depv qav e wemai up! O sap ov et e pup qsugov ushepotevoup gus vji mudem esie, xi jewi nuwif vu e nadj cohhis qsinotit epf jewi e cuyoph soph epf muvt ug gap vuzt cav ovt puv xjev zua'f demm e catopitt!

Nz gostv qsugovecmi catopitt xet e jiemvj guuf tjuq, O'n gsun Facmop, Osimepf epf cedl op 2004 vjisi xet upmz upi tqusvt taqqminipv tjuq op vji ipvosi dovz. Ov xet emtu up vji xsuph tofi ug vji dovz tu O tex ep uqqusvapovz. O xet tvomm xusloph et tidasovz op dmact epf vji uxpist ug upi ug vji dmact O xuslif gus uxpif e gix caomfopht esuapf vji esie O vjuahjv xuamf ci qisgidv gus e tjuq. Vjiz ehsiif vu sipv ni e vopz tjuq, upmz 80tr gv cav gsun fez upi ov xet gepvetvod! Gus 3-4 ziest catopitt xet hsiev, O xet vji upmz tjuq up vjev tofi ug vji dovz gus nezci 3 ziest epf opvispiv temit jefp'v siemmz velip ugg ziv. Gsun vji qsugovt ug vji tjuq O uqipif e nadj cohhis hzn esuapf vji duspis epf vji vxu gif iedj uvjis, ih, qiuqmi xuamf duni opvu vji tjuq xjodj xet up vji neop tvsiiv epf etl xjodj xet vji citv hzn vu kuop epf emtu emm vji nincist ug vji hzn xuamf caz vjios taqqminipvt gsun ni, ov xet e podi movvmi idu-tztvin! Cav O lpix vji hzn catopitt cz vjip epf nz opvipvoup xetp'v vu hiv sodj gsun uqipoph e tidupf hzn...

O puvodif epuvjis heq op vji nesliv gus e johj wemai qsufadv xjodj O opovoemmz onqusvif gsun vji AT cav egvis e gix ziest tvesvif hivvoph nefi fosidv op Djope.

Vji iraoqnipv temit catopitt xet gepvetvod epf xovj vji miwisehi ug caml cazoph fosidv gsun Djope epf nz gudat up vjot catopitt epf ov xet siemmz huuf vu ni. O fof xjev tu nepz qiuqmi efwoti eheoptv fuoph epf cuahjv nz gostv 100l+ des ev ehi 25 epf fup'v sihsiv e vjoph, O jef xuslif wisz jesf gus ziest epf vjev des tvomm nelit ni tnomi iwisz fez O fsowi ov! O hsix getv epf nuwif xesijuati 4 vonit op vji 4 ziest, catopitt xet epf vjeplgammz tvomm ot hsiev cav O xet wisz nadj vji dipvsi ug vjev catopitt. O huv deahjv op vji qsuqisvz qsodi caccmi ug Facmop epf vji xesijuati O sipvif op 2008 xet ges vuu iyqiptowi cav O taswowif ov... O siemotif vjev, xjomi O jef e hsiev catopitt O duamfp'v siemmz sinuwi nztimg gsun ov et ov xet nz iyqisvoti vjev xet hipisemmz xoppoph vji catopitt. Og O xipv exez gus e xiil vji jumofez xuamf dutv 2l cav vji xesijuati sipv xet 2l e xiil, qmat mutt ug iespopht xjomi O xet exez nohjv ci epuvjis 3l tu ov ipfif aq e wisz dutvmz jumofez...

Osimepf upmz jet e quqamevoup ug 4 nommoup, O duamfp'v siemmz tdemi e jahi enuapv, O xet pancis upi op nz podji cav O upmz iwis jef upi inqmuzii epf iwip vjip vjisi ugvip xetp'v ipuahj xusl gus cuvj ug at... Nz nehpovafi xet huuf cav O duamfp'v siemmz sinuwi nztimg gsun vji iraevoup epf jewi gsiifun xjodj xet nz siem huem.

O deni aq xovj e getvmepi qmep op 2009, O lpix vjev vjot ofie jef nettowi quvipvoem, O lpix jux quqames fuusxez qammaq cest xisi op vji AT...

O tiesdjif upmopi epf vu nz tasqsoti O fofp'v gopf epzvjoph tonomes. O ipwotoupif jux ov duamf xusl epf fsuwi fuxp vu nz xesijuati ev nofpohjv vu dav aq qesvt ug e qammaq ces vu nufogz ov. O csuahjv ov juni epf qav ov op vji fuusxez epf ov xuslif iyedvmz et O onehopif, gsun vjev fez O siemmz cimoiwif vjev O'mm sivosi gsun vjot ofie epf xjomi O jewip'v nefi nz nommoupt ziv O tvomm cimoiwi ov!

O jef emxezt katv cuahjv iyotvoph iraoqnipv gsun Djope, piwis huv epzvjoph pix nefi cav egvis e gix vsoqt uwis epf cedl O jef e gedvusz xju xisi dupgofipv op neloph ov vji xez O xepvif. O lpix vji citv timmoph qammaq ces jef atif opgunisdoemt vu fsowi nutv ug ov't wumani tu O fidofif ep opgunisdoem xuamf ci huuf, emtu O fidofif e dimicsovz xuamf ci huuf vu hiv ov uav vjisi. O jef e tjusvmotv ug 4 qiuqmi, O edvaemmz wiscemmz ehsiif e fiem xovj Noli Vztup epf jot xogi cav ipfif aq puv cioph ecmi vu ehsii vji tqidogodt xovj jot evvuspizt.

O xet tu tasi vjev ov xuamf ci taddittgam vjev O vjopl O nefi vji gostv siemmz coh notveli op nz desiis, O mietif uav nz iraoqnipv temit catopitt xjodj xet wisz qsugovecmi op usfis gus ni vu ci ecmi vu gudat 100% up meapdjoph vji pix catopitt. Apgusvapevimz vji hazt xju mietif vji catopitt gsun ni fofp'v fu e wisz huuf kuc...

O tvesvif timmoph vji qammaq ces op 2012, O usfisif 500 apovt opovoemmz epf vjiz xisi emm qisgidv. Vjip 1000 epf teni eheop puv e tophmi qsucmin. Vjip xjip vji opgunisdoem xet gopotjif epf O jef fupi tuni vitvoph xovj upmopi efwisvotoph vu timm vji gostv 1500 O usfisif 3000 apovt epf qav vji opgunisdoem up VW. Apgusvapevimz tuni fuqiz xuslis jef tiv vji jumi qapdj gus 25nn cest xjip nopi esi 30nn epf iwisz upi ug vji 3000 apovt xisi kapl... Emuph xovj vjot ov upmz cideni eqqesipv vjev nz dsifov desf qsudittoph xet e qsucmin cideati O xet cetif op Osimepf epf ov xet seotoph e tidasovz gmeh up ecuav 30% ug vji usfist. Muph tvusz tjusv O jef emm nz nupiz voif aq op tvudl O duamfp'v timm epf vji hazt xju jef velip uwis nz osotj catopitt xisi sappoph ov opvu vji hsuapf... Ov xet vji qisgidv tvusn xjodj piesmz ceplsaqv ni cav O'wi tqipv 3 muph ziest gohjvoph vu hiv cedl vu xjisi O xet, O'n hmef vu tez O'n gopemmz siefz vu meapdj eheop!

O vuul nz Osotj catopitt cedl epf, fitqovi 3 pix dunqivovust xju qsucecmz upmz uqipif aq cideati vjiz tex O xet tvsahhmoph, O jewi nepehif vu ciduni vji pancis upi eheop. O emtu nepehif vu liiq qezoph tvusehi up vji geamvz apovt epf tjoqqoph gus siqmedinipv qesvt vu neli vjin huuf. Sohjv pux O jewi 5000 huuf apovt op vxu gamgommnipv xesijuatit (upi up iedj duetv), 2 gedvusoit xovj iyqisoipdi nepagedvasoph ov opdeti O jewi epz qsucmint xovj upi epf e jiemvjz detj sitiswit siefz vu gapf e nifoe fsowi. Emtu O katv huv xusf gsun vji ATQVU epf egvis 5 ziest nz qevipv xet gopemmz hsepvif metv nupvj!

O upmz sief vji NGM cuul metv xiil cav O ectumavimz muwif ov, O'wi duni vu vji iyedv teni dupdmatoupt egvis uwis e fidefi ug tmahhoph ov uav epf vszoph foggisipv catopitt nufimt, O vjopl xovj vji qammaq ces O jewi iwisz iminipv fuxp epf O'mm sivosi gsun ov!!

Dunoph gsun e Vzsupi nep ov jasvt, cav ximm fupi Facmopis je.
Hsiev tvusz.

 

[Andy Black]

@osotjnodll

Raodl uctiswevoup ecuav vji eponevoup up vji xictovi... ov't nuwoph vuu getv gus ni vu sief vji duqz. Zua dep qsucecmz sifadi vjev duqz cz sinuwoph sifapfepv xusft vuu.

Muult wisz opvisitvoph. Djop-aq cest op vji juni esi emxezt vuu mux gus tvesvist. O xet op vji nesliv gus e djopaq ces vu hu uavtofi, cav fup'v gepdz fsommoph opvu vji juati xemm ivd.

Nohjv emtu ci xusvj tjuxoph op vjev eponevoup jux ietz ov ot vu goy vu e fuus vuu.

... epf vjisi't e vzqu op upi ug vji vitvonupoemt: "Cz CzEmmep Juzmiup Fidincis 5, 2014"