I picked up TMF just over a week ago and devoured it in a few days. As I read it I was comparing my existing business which has been operational for the last 5 years to the Fastlane. I was cringing as I read it - this business I built had the potential of being a Fastlane business; it could have made me rich if only I had done it right and not wasted the opportunity...
I've been self employed most of my life but with periods of employment in between. I am not a good employee. At the end of 2007 I quit my job as a software developer so go self employed for the 3rd time. I had no plan for what I was going to do but I had a bunch of learning resources.
I fumbled for a year or so, made a bit of money and then started a venture, which failed, but which highlighted a glaring need. It was an online software problem that had some very bad existing solutions. With my background in development I knew I could do better. So I did.
In July 2009 I launched a free version of my software service for Internet Marketers. It was extremely well received but I was shy to ask for money. It took a few more months before I opened up a paid version. A few months later I released a new version and it sold out in 4.5 hours. My first real success.
At this point I had a potential fastlane business in the works:
Need - the need was very high for this particular product at this time
Entry - It could only be solved by software and not many people had the skills. My solution was much better than anything out there at the time
Control - I wrote and owned the software myself, I ran my own VPS and I didn't do any marketing as people just talked about it and I got floods of new signups out of nowhere.
Scale - I had a few issues with scale but I solved them (but took too long about it) and certainly now, it can scale easily. The software can service 100 members or 10,000 members just the same. I might need a few more servers is all.
Time - Back then I did not have the element of time as I was developing the software full time, but over the next year or two I would eventually build out more features and streamline and automate most of the grunt work. It now needs very little time to maintain.
The problem was, I totally screwed up the next few years. The scale problem I mentioned took me six whole months to solve. Not because it was that hard (okay yes it was hard) but because the difficulty of it put me off and made me procrastinate. I'd sit looking at my code thinking "I don't know how to do this", write one line of code and give up for the day. I did this day after day and those days turned into weeks and into months.
I eventually got past it then I had another technical problem I needed to solve. Again it was hard, I procrastinated and it took too long. I had members screaming at me for features and it took me a year to implement them. I had people begging me to open up an affiliate program so they could sell it but I wasn't ready and now, 5 years later, I know I never will be.
Basically, I dragged my feet for 5 years and now, the need is gone. The market has moved on, the software is obsolete and whilst I still have a few die hard members, most new members that come on board leave quickly as the software is simply no longer effective in today's technical climate.
It still earns me a living - JUST, and thankfully, I have automated enough of the systems that I only need work on it for around 10 hours a week which puts me in a brilliant position.
I have my idea for my new venture. I have the time to implement it, I have more learning resources than ever before, I have the motivation from the TMF book and I have 5 years of experience and wasted opportunity behind me.
So, this is a new beginning for me. I'm not young and I'm getting a few grey hairs now but hey, you gotta just start where you are right?
I've been self employed most of my life but with periods of employment in between. I am not a good employee. At the end of 2007 I quit my job as a software developer so go self employed for the 3rd time. I had no plan for what I was going to do but I had a bunch of learning resources.
I fumbled for a year or so, made a bit of money and then started a venture, which failed, but which highlighted a glaring need. It was an online software problem that had some very bad existing solutions. With my background in development I knew I could do better. So I did.
In July 2009 I launched a free version of my software service for Internet Marketers. It was extremely well received but I was shy to ask for money. It took a few more months before I opened up a paid version. A few months later I released a new version and it sold out in 4.5 hours. My first real success.
At this point I had a potential fastlane business in the works:
Need - the need was very high for this particular product at this time
Entry - It could only be solved by software and not many people had the skills. My solution was much better than anything out there at the time
Control - I wrote and owned the software myself, I ran my own VPS and I didn't do any marketing as people just talked about it and I got floods of new signups out of nowhere.
Scale - I had a few issues with scale but I solved them (but took too long about it) and certainly now, it can scale easily. The software can service 100 members or 10,000 members just the same. I might need a few more servers is all.
Time - Back then I did not have the element of time as I was developing the software full time, but over the next year or two I would eventually build out more features and streamline and automate most of the grunt work. It now needs very little time to maintain.
The problem was, I totally screwed up the next few years. The scale problem I mentioned took me six whole months to solve. Not because it was that hard (okay yes it was hard) but because the difficulty of it put me off and made me procrastinate. I'd sit looking at my code thinking "I don't know how to do this", write one line of code and give up for the day. I did this day after day and those days turned into weeks and into months.
I eventually got past it then I had another technical problem I needed to solve. Again it was hard, I procrastinated and it took too long. I had members screaming at me for features and it took me a year to implement them. I had people begging me to open up an affiliate program so they could sell it but I wasn't ready and now, 5 years later, I know I never will be.
Basically, I dragged my feet for 5 years and now, the need is gone. The market has moved on, the software is obsolete and whilst I still have a few die hard members, most new members that come on board leave quickly as the software is simply no longer effective in today's technical climate.
It still earns me a living - JUST, and thankfully, I have automated enough of the systems that I only need work on it for around 10 hours a week which puts me in a brilliant position.
I have my idea for my new venture. I have the time to implement it, I have more learning resources than ever before, I have the motivation from the TMF book and I have 5 years of experience and wasted opportunity behind me.
So, this is a new beginning for me. I'm not young and I'm getting a few grey hairs now but hey, you gotta just start where you are right?
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. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs achieve reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circl, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
