Hi, I am 50 in September. Kid is 11. Thinking about registering a company and sell what I do as a product instead of a time-contract, aka, employment. Applying for PR. Singapore. The backup is to move to JB.
I can probably help you on that (register a company and work with you to get clients). Would you like to reach out to me and have a short conversation about it? My email is mobtwoeric@gmail.com
I hate to say it, but you can't sell an "ideology." You can only sell products and services for which there is sufficient demand and not enough (or not well enough met) supply in the market.
I have watched your videos and I relate as I am doing a startup too, though I didn't quit anything to do it. I am working "two jobs" essentially.
But I have watched a lot of your content and still don't know the business model you are seeking. If you do not have a simple clear business model that can earn revenue, then you may need to reassess.
Look at the market for where there is a hole you feel exists and try to fill it. That is the only business model that is real. And it has to offer something people are willing to pay for.
Good luck and don't be too proud to shift gears if needed. The world is full of successful business owners ("startups") but you must be practical about your business model and adjust until you find one that earns revenue.
Absolutely agree with you - I've given similar advice as an investor / VC in my earlier life to countless of startup founders. To clarify, I'm not selling the ideology - I'm building an audience through it. There is no business model, just as there was no business model for Agile and the manifesto created by the 17 when they forged it.
The startup, or business model comes later. As it did with Agile - many entities were incorporated that sold services, templates, etc. after Agile as an ideology took off. In similar manner, that is what I hope to achieve with FoFty. There are delivery platforms I'm currently exploring with potential partners to deploy the content / payload of the ideology through various business models. For example, one of them involves laying the soft asset/IP over hard products (hotels, resort chains, etc,) and exposing it in public exchanges through instruments such as REITs - the partner (conglomerate) in this case has already setup the financial infrastructure, the destination packages, has accumulated the pre-IPO capital, and is in search for soft products of value and reputation to overlay. And there are other models in consideration with other interested partners.
But that's the cart before the horse for me. For now, the focus is to build the audience and ascertain / qualify interest in the ideology itself before spending capital to invest in lean startup trials / pilots to iterate on. This all started from a LinkedIn post that went viral on this topic, and the thousands of DMs from people asking me if they could join "the program" which at that point was just a figment of my imagination. I basically stumbled upon a problem with a huge unmet need and realized that it was something that doesn't happen often. From, there, I embarked on the validation stage of the journey to better ascertain the true size of the market potential, not in general terms (the typical market size is $B and 0.01% is $M so that's why you should invest in me) but in terms specific to the ideology itself whilst preserving capital.
Eventually, I plan to leverage networks I've established over the years to deploy through once product-market fit is achieved. Seeking dilutive capital to scale is not a path I want to take, having been on the investor side of deals in my past.
That's all for later though, right now I know what I must focus on and I have a timeline to get the answer by. Good news is, the audience appears to be growing a little ahead of schedule. Cheers.
Dear Russell, thanks much for bothering to read my posts! I have started a Discord server with a few people on similar journeys (and we are of all ages =)
Hi Sang, (sorry is that your first name? or Shin?) :)
The YT algo seems to be working! Your vid "’I'm a 50 yr old start-up founder. I quit my job now I’m worried I made a big mistake." popped up in my feed today and watched with interest!!
I seem to be in similar situation 56, ex-corporate slave and startup hustler, been out of work since last year. I was burnt out, fed up of "delivering shareholder value" but still motivated and have grand ambitions to give me the freedom and income to give my family the life they deserve. I was also determined to avoid re-entering the rat race and do something myself! Been working on something for past year that is slowly showing promise, so hoping it will get traction very soon, before my savings run out!!
I think you have hit the nail on the head, with your sentiment about people in their 50s. Its a pivotal phase in life. I look forward to reading and watching more! Take care dude!
Hi, I am 50 in September. Kid is 11. Thinking about registering a company and sell what I do as a product instead of a time-contract, aka, employment. Applying for PR. Singapore. The backup is to move to JB.
I'm 50 in Sept too - registering in SG is very straightforward if you have a local to vouch for you. All the best!
I can probably help you on that (register a company and work with you to get clients). Would you like to reach out to me and have a short conversation about it? My email is mobtwoeric@gmail.com
I hate to say it, but you can't sell an "ideology." You can only sell products and services for which there is sufficient demand and not enough (or not well enough met) supply in the market.
I have watched your videos and I relate as I am doing a startup too, though I didn't quit anything to do it. I am working "two jobs" essentially.
But I have watched a lot of your content and still don't know the business model you are seeking. If you do not have a simple clear business model that can earn revenue, then you may need to reassess.
Look at the market for where there is a hole you feel exists and try to fill it. That is the only business model that is real. And it has to offer something people are willing to pay for.
Good luck and don't be too proud to shift gears if needed. The world is full of successful business owners ("startups") but you must be practical about your business model and adjust until you find one that earns revenue.
Absolutely agree with you - I've given similar advice as an investor / VC in my earlier life to countless of startup founders. To clarify, I'm not selling the ideology - I'm building an audience through it. There is no business model, just as there was no business model for Agile and the manifesto created by the 17 when they forged it.
The startup, or business model comes later. As it did with Agile - many entities were incorporated that sold services, templates, etc. after Agile as an ideology took off. In similar manner, that is what I hope to achieve with FoFty. There are delivery platforms I'm currently exploring with potential partners to deploy the content / payload of the ideology through various business models. For example, one of them involves laying the soft asset/IP over hard products (hotels, resort chains, etc,) and exposing it in public exchanges through instruments such as REITs - the partner (conglomerate) in this case has already setup the financial infrastructure, the destination packages, has accumulated the pre-IPO capital, and is in search for soft products of value and reputation to overlay. And there are other models in consideration with other interested partners.
But that's the cart before the horse for me. For now, the focus is to build the audience and ascertain / qualify interest in the ideology itself before spending capital to invest in lean startup trials / pilots to iterate on. This all started from a LinkedIn post that went viral on this topic, and the thousands of DMs from people asking me if they could join "the program" which at that point was just a figment of my imagination. I basically stumbled upon a problem with a huge unmet need and realized that it was something that doesn't happen often. From, there, I embarked on the validation stage of the journey to better ascertain the true size of the market potential, not in general terms (the typical market size is $B and 0.01% is $M so that's why you should invest in me) but in terms specific to the ideology itself whilst preserving capital.
Eventually, I plan to leverage networks I've established over the years to deploy through once product-market fit is achieved. Seeking dilutive capital to scale is not a path I want to take, having been on the investor side of deals in my past.
That's all for later though, right now I know what I must focus on and I have a timeline to get the answer by. Good news is, the audience appears to be growing a little ahead of schedule. Cheers.
I have been enjoying your posts, especially because of some of the similarities in our lives.
I’m a bunch older than you, and I just started a new business. I believe we can help each other. Feel free to DM me.
Russ
Dear Russell, thanks much for bothering to read my posts! I have started a Discord server with a few people on similar journeys (and we are of all ages =)
Did you send the Discord link or address? I did not get it.
Check out your DM, I've shared it there just now - see you!
Just found your youtube vids and substack via the algo - agree with your views re: bond yields and lost decade. People think i'm insane haha.
Hi Sang, (sorry is that your first name? or Shin?) :)
The YT algo seems to be working! Your vid "’I'm a 50 yr old start-up founder. I quit my job now I’m worried I made a big mistake." popped up in my feed today and watched with interest!!
I seem to be in similar situation 56, ex-corporate slave and startup hustler, been out of work since last year. I was burnt out, fed up of "delivering shareholder value" but still motivated and have grand ambitions to give me the freedom and income to give my family the life they deserve. I was also determined to avoid re-entering the rat race and do something myself! Been working on something for past year that is slowly showing promise, so hoping it will get traction very soon, before my savings run out!!
I think you have hit the nail on the head, with your sentiment about people in their 50s. Its a pivotal phase in life. I look forward to reading and watching more! Take care dude!