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Brainstorming Paving the Road to Financial Independance

Discussion in 'Money' started by Fundinn, Dec 20, 2017.

  1. Fundinn

    Fundinn Active Member

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    As per my introduction, I have decided to make financial independence my number one focus this year. I'm interested in building a platform that would be helpful for small businesses getting recognition online.

    To be honest, I feel like I know exactly what I want to do. I will simply write down what I have been doing so far.

    I'm interested in building a platform that would be helpful for small businesses getting recognition online. There is competition, but I think there is space for something easy, different and accessible. I've spent 9$ on a crash course on some new technologies for website development, I've poured in about 40 hours into the program so far and I see myself putting about 25 more before getting on with my own project.

    I am comfortable putting in about 50 hours a week into this work and I have about 2 years of cash to live comfortably. Outside of those 50 hours I do networking, meeting with people in different industries. I have touched base with old acquaintances these past three weeks. They are all supportive and will probably be willing to check my stuff out when it's available.

    I nurture my entrepreneurial spirit by listening to the EntreLeadership podcast everyday and I have a bunch of books(The 100$ Startup, The 4-hour workweek, etc) that I'm reading.

    I don't know exactly what the format of my goal should be. I feel like saying "I want to build a business" should be fragmented into smaller goals that support the main idea. I don't know if there's a way to re-use one goal thread to post my progress on multiple sub-goals?

    What comes to mind right now is to fill up the sample business plan from the 100$ start up, and then to write down a road map with milestones of what I want to conceive. Most importantly, I want to earn my first dollar as soon as I can. A business is useless if it doesn't generate cash. So here's what I have as far as goals are:

    1̶)̶ ̶F̶i̶l̶l̶-̶i̶n̶ ̶t̶h̶e̶ ̶1̶0̶0̶$̶ ̶s̶t̶a̶r̶t̶ ̶u̶p̶ ̶b̶u̶s̶i̶n̶e̶s̶s̶ ̶p̶l̶a̶n̶ ̶b̶y̶ ̶S̶u̶n̶d̶a̶y̶.̶ ̶
    2̶)̶ ̶S̶k̶e̶t̶c̶h̶ ̶u̶p̶ ̶a̶ ̶r̶o̶u̶g̶h̶ ̶r̶o̶a̶d̶ ̶m̶a̶p̶ ̶w̶i̶t̶h̶ ̶m̶i̶l̶e̶s̶t̶o̶n̶e̶s̶ ̶a̶n̶d̶ ̶e̶s̶t̶i̶m̶a̶t̶e̶s̶ ̶o̶f̶ ̶w̶h̶a̶t̶ ̶w̶i̶l̶l̶ ̶b̶e̶ ̶d̶o̶n̶e̶ ̶a̶n̶d̶ ̶w̶h̶e̶n̶ ̶b̶y̶ ̶n̶e̶x̶t̶ ̶W̶e̶d̶n̶e̶s̶d̶a̶y̶.̶

    Thanks again guys,
    Pat
     
    Last edited: Dec 25, 2017
    James likes this.
  2. James

    James Host

    You can post the next fragment goal when the previous one completes. In the future we'll have "goal chains" here, so you can link new goals to previous ones in a series.

    Those you've listed are somewhat more 'brainstorming of goals', i.e. planning and mapping and estimating, so you could post your work on those in here.

    The goals run on a weekly progress update cycle (Sunday), so they need to be longer so as to have multiple updates. So for the first goal target/description it could be something like "Have my MVP online and running". (Then maybe next future goal will be "Get one customer" or "Earn first $100 business revenue", etc). Then your actions would be things like "50 hours work per week minimum", which is easy to log and present, and you could also include specific things you're going to do.
     
  3. Tom

    Tom Active Member

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    Lets do it! My eyes are pealed.
     
  4. Fundinn

    Fundinn Active Member

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    That makes sense, thanks James. I'll start by putting the updates for the sub goals in this thread, the roadmap will give me an idea on how much time I give myself to get an MVP out there.
     
  5. Fundinn

    Fundinn Active Member

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    I wrote down my business plan and ended up sketching out a simple road map. I don't think the details of these documents are important here. I will take these documents and have a 1 on 1 with someone I know who is self-employed for feedback and that will be good enough as far as getting opinion on content. The way I structured the road map is by specifying the features and to put sensible time estimates. I will use that to track my time against it and pull out tasks unto my calendar.

    It's Christmas so I will take this opportunity to spend quality time with family, I'm expecting to write down my goal for the MVP tomorrow.

    Thanks guys, have a great Christmas.
     

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    James likes this.
  6. James

    James Host

    You too!
     

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