New to the Fast Lane Forum. Read the book on a recent trip in Maui. You don’t need more motivation than The Millionaire Fastlane and a place like Maui to realize that you have to get off your a$$ and get out of the slow lane. Ideas were brewing well before Maui but the book was perfect to put a lot of things into perspective.
I am working with a partner on an idea. I know MJ is not overly keen on partnerships but I am giving this one a try and so far it is working very well. We have an idea (internet based) and are fully in the R&D phase. We have established a number of so called “guiding principles†that we refer to in order to ensure our idea is sound. They are listed below along with our assessment:
1. Idea must be scalable: Check! It has mass reach and can move into multiple markets.
2. Limited Liability: Check! We facilitate transactions between the buyer and the seller. We take a commission of the transaction. There is no physical product exchanging hands. So other than seller not living up to his end of the bargain, our liability is limited.
3. Limited Start up Costs: Check! My partner and I are doing all the work on getting this start up off the ground. Using spare time (between family obligations and jobs) as well as our network of subject matter experts, we anticipate keeping our costs down.
4. Limited Human Resources: Uncertain? People=problems. I should know my career has been in big business in HR. We want to keep this to as few people as possible.
Our main challenge at this point with our idea, is being able to market ourselves to small businesses and have them sign up for our services. They would pay to use our service which in turn would populate our website, allowing us to market to potential buyers. The question I have is how do we meet our fourth “guiding principle†of limited human resources without brining on an effective sales team? We’ve been doing research on outsourcing a sales team but so far our research has shown that this costly as well as the fact that you are not in full control of the customer service experience.
If anyone has any experience in this area or can point to a simple solution that we are overlooking, I would really appreciate any feedback.
I am working with a partner on an idea. I know MJ is not overly keen on partnerships but I am giving this one a try and so far it is working very well. We have an idea (internet based) and are fully in the R&D phase. We have established a number of so called “guiding principles†that we refer to in order to ensure our idea is sound. They are listed below along with our assessment:
1. Idea must be scalable: Check! It has mass reach and can move into multiple markets.
2. Limited Liability: Check! We facilitate transactions between the buyer and the seller. We take a commission of the transaction. There is no physical product exchanging hands. So other than seller not living up to his end of the bargain, our liability is limited.
3. Limited Start up Costs: Check! My partner and I are doing all the work on getting this start up off the ground. Using spare time (between family obligations and jobs) as well as our network of subject matter experts, we anticipate keeping our costs down.
4. Limited Human Resources: Uncertain? People=problems. I should know my career has been in big business in HR. We want to keep this to as few people as possible.
Our main challenge at this point with our idea, is being able to market ourselves to small businesses and have them sign up for our services. They would pay to use our service which in turn would populate our website, allowing us to market to potential buyers. The question I have is how do we meet our fourth “guiding principle†of limited human resources without brining on an effective sales team? We’ve been doing research on outsourcing a sales team but so far our research has shown that this costly as well as the fact that you are not in full control of the customer service experience.
If anyone has any experience in this area or can point to a simple solution that we are overlooking, I would really appreciate any feedback.
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 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-circle, 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
