Don't worry about Elon Musk's Routine

by ChristopherGS. Posted on Sep 09, 2020    1107    128


...or what Jeff Bezos eats for breakfast, or what Bill Gates is reading.

These are people so much further ahead than you in their entrepreneurial journey that their advice is not actually going to be that useful.

Bootstrapping a SaaS business on your own or with a small team? The last time Bezos was in that position I was the proud owner of a Sega Megadrive! The point: His advice to you right now would be:

  • Beyond your resources (e.g. "just arrange some meetings with the VCs in your Rolodex" "...wait what's a Rolodex?")
  • Outdated - this was before the internet was mainstream
  • Vague...it's been more than 20 years since he went through your current trials and tribulations. He's forgotten the details.

So what is my point? Seek advice from people who have done what you are trying to do fairly recently. Like 2-5 years ahead of you.

I did this, partnering up with someone who already had an online course business, and it made all the difference.


Comments

potentpotion

Don’t forget their families were already wealthy. That’s the key.

online-reputation 1

Such great thoughts.

michaelb1 1

Also most of the successful entrepreneurs including the ones you mentioned like to do a lot of myth making in their origin story.

It’s painful for me to listen to interviews with them because of this.

one_jr 1

This is great advice and one I could've really used a while back when working with a mentor who was self-made and effectively retired from the game.

The experience was invaluable and I learned a lot though tbh it did not move the needle much as his advice was 10 years ahead of what I needed to get done there and then.

Definitely keeping all the learnings for the future, and if you want to really get ahead then as per OP's post - find someone 2-5 years ahead!

darell99 1

Great advice!

rjc33020 1

Great Advice. That's often what I do. I love their stories of how they came up. Their stories inspire me but I need one that is a lot more current

flutterbark 1

I also learned this in the stock market. A lot of people say to follow Warren Buffet's advice on investing but the guy has as billions of dollars. He's not even playing the same game as everybody else. It's easier for him to invest and be patient on his investments.

cdma12 1

say it louder for the people in the back.

Seedpound 1

read a book on "How not to go bankrupt" instead

LesbotronEZAS 1

But what is his routine tho?

TheTempService 1

You seem to be a bit ahead of me. can you help me with my online course business?

  ChristopherGS 1

Yes. DM me.

HoldenCoughfield 1

Adding to this post: don’t listen to the wake up at 4 am thing if it does not suit you. It is not a magic potion and you will drive yourself miserable forcing yourself to do it. If you aren’t a morning person, sure, you can adjust, but is it your peak mental performance doing that?

yokotron 1

Actually, I’m right there with them. Making their breakfast for them.

Tawpigh 1

This is good advice because Elon Musk's dad owned an emerald mine and Bezos got seed money from his wealthy parents.

The one percent aren't self made entrepreneurs so don't model yourself on them

raymondswong 1

What was your arrangement when you partnered with someone? What’s the basis for determining his equity?

cavemanbc423 1

Finding an exact person has enough ability to do it is a hard thing tho, 1 out if 1000 or maybe 10000 out there.
A coach for experient that even must match the major way far harder, where am i suppose to find the Person? :(

Heinizach 1

That is exactly right, incredibly well said!

snakebeats502 1

Wow this is exactly what ive needed to hear. Exactly. What I plan on doing is: taking any big questions that i have, write them on paper and add any details. Then i will write a paper/letter asking what i would really like answered. Then i will email my most remarkable highschool teacher, asking the questions. I also plan on asking it either on reddit or to some redditors. Also maybe some more people who you described here as 2-5 years out.
Might seem like im overthinking but i really want to take charge and go all in 2021.

Something else that really rezonated recently and relates well:
“Get out of your own way... your best song is sitting on your computer with no intentions of putting it out because your an overthinker(myself included)”
I am a person with lots of ideas.

HectorKon1006 1

1-2-3-4-5–6-7-8-9-10

Let’s say that you are at stage one of the process of reaching your goals, it would be better to learn from someone who has recently gone through that same stage then someone who is at the stage 10

elforce001 1

Thanks. I needed this. I was losing my mind because competition and the fact that I'm planning to launch my startup in November (God willing) with 2 clients (last mile startup).

hoofglormuss 1

RGAs guys. Stop worrying about some mindset when you already know what you want. RGAs.

  ChristopherGS 2

Roger Gracie Academy. That's all RGA means to me 😄

hoofglormuss 1

OSS!! \\mn//

MaxPast 1

Moreover: you can still get valuable advice from all these people if you use a wayback machine :)
I mean looking for their past interviews, blogs, etc. That's how I deeper understood what 37signals actually did back then and how did the manage to grow that fast.

As for getting up-to-date information, I prefer listening to interview podcasts, something like Mixergy, How I Built This, etc. Just turning them on as a background radio either via dynamics on my iPhone or via AirPods using just one ear whenever I'm in a crowded place. I listen to interviews for almost the whole day and it gives me not just fresh ideas but also strong internal motivation to continue. Really helps to avoid procrastination.

dylan_marketing 2

Saw a meme today. It was supposedly The Rock's schedule. It was something like:

4am - wake up

430am - work out

6am- eat

630 - work out

730am - work out

830 am - eat

9am - work out

11am - work out

1pm - eat

3pm - work out

5pm - work outt

7pm- work out

9pm - eat

10pm work out

11pm - bed

Half the time these "schedules" arent even their real schedules. Its just what someone made up on the internet or what they told a reporter so they look good.

I know plenty of millionaires that wake up at 10am, work until 3pm and then chill all night...

The "grind" mentality tends to lead to burn out or depression because you constantly striving for the impossible.

Do your best, forget the rest!

ChillieD 2

I think you need to go on a computer

bosshax 2

Any journey is not a straight line. It’s a hell of a long, crazy, winding, up and down, staircase. It’s slippery. Sometimes you fall off and never recover. Sometimes you fall off and end up at a short cut. If you examined the beginning and the end you would never truly understand what it took to make each step. It’s also impossible to psychologically go back in time and share with someone really what you were going through. Successful people love looking back through rose colour glasses and praise their glorious vision or ideas that did win- but what about all the ideas that were entirely foolish and could have impaired them but didn’t? People also never mention luck, or the help of fortune or friends. So, while it’s useful to understand ideas like “work hard” and “be the best” what it might take any individual to gain any specific goal is such a subjective determination that any advice from anyone is as good as useless.

  ChristopherGS 1

well said

Quantum_Pineapple 2

>So what is my point? Seek advice from people who have done what you are trying to do fairly recently. Like 2-5 years ahead of you.

I happened to do just this and my career EXPLODED income-wise.

SmokinStrawberries 2

Can we also get over the "creating a business in the garage" stereotype. A guy who comes from an upper middle class or wealthy family and went to Harvard and works in his garage is not the same as the guy who is figuring it all out as he goes without resources and is also working in his garage.

code_passion 2

So how can i find these people and chat with them online

codeboss911 2

you can still learn from the best of best always. Warren Buffet can still share advice on how to trade stocks despite being at very top (like bad news are investors best friends, buy and hold good stocks 10 years, buy when everyone is fearful etc...) Elon can share advice on go after your goals now while your still less obligated with family responsibilities (like he said before and much much more), work every waking hour etc...

zaidkhan00690 2

Simply amazing ❤

V_LEE96 2

They also probably cherry pick things to suggest or forgot the a lot of other things. The point is just do your own thing

ziggiesmallss 2

Very well said!

Doggo_Is_Life_ 2

I truly hate it when people compare themselves and their journey to others who have already put in years and years of work to establish themselves. Your journey is your own, and how you get to your desired result is going to vary greatly from others. Everybody’s path is unique, and that is something we should all embrace.

N3KIO 2

Trying to sell me a course huh

BurdenofPain 2

This makes sense. Great advice.

olivergee 2

Great post. Same goes for Uber and Airbnb Startups. It’s now 12 years since then. Time change, customers change, technology changes.

Putrid-Excitement 2

>So what is my point? Seek advice from people who have done what you are trying to do fairly recently. Like 2-5 years ahead of you.



I am thinking a main mentor (experience multiple business owner), and a few minor mentors (marketing high level freelancer/consultant) are key. It's like someone that is a knife maker trying to make a samurai sword, probably should apprentice with a 30 year experience master. In knife making they have multiple generations of masters which means expertise is parlayed and concentrated to the next one. Then they have their metal experts and their knife historians.

The key appears to be mentors/experts to make your progress improve 10 fold. Real skill learning, and improving your speed and skill up to an expert level. Then unleash your fine tune business model into a market opportunity. Take a jab at getting your investment to make cashflow. The goal is to get yourself up to standard, find a ripe opportunity and finally perform.

  ChristopherGS 4

Yes, nice comparison. The challenge for many is that it is tough to just go up to people and say "be my mentor". If you want that kind of thing, you've got to bring some value too. An alternative that is much easier (though perhaps less effective) is to really get into "digital ethnography" and study those a few years ahead of you. What do they post about? How do they engage with customers or on social media?

Not saying it's easy, but it's an option

Sketch_Crush 2

I remember hearing all the sharks on Shark Tank say they think getting a mentor is bullshit. And to a certain extent, I agree. No successful business tycoon is gonna take a stranger under their wing (like Tai Lopez seems to think, lol). But like you say, someone 2-5 years ahead of you would be your best contact. And you could probably provide value to someone like that too.

effyochicken 8

Whenever talks about doing what Elon Musk is doing, I want to direct them to a photo of young Elon: https://imgur.com/gallery/JM83soH/comment/975518165


Does this look like a healthy person with a balanced life? If you're down for this for 10-20 years until you can hopefully afford hair implants, by all means "work like Elon."


If not, get some sleep, eat healthy, and work diligently at a decent amount of hours per day. Just don't assume putting in 18 hours a day for years is the only way to make it.

MGTOW-CO-UK 2

Do you happen to have another link to that Elon picture? It’s not working for me

xeneks 4

Worked for me. Young person tries a move. Gets smacked in the head by the thing he was rolling on - immediately after he’s fallen off in front of lots of others. Attempt. Embarrassment then pain.

Sketch_Crush 4

Also, Elon claims he put every dollar of his $180 million dollar Paypal fortune into SpaceX. Never ever ever EVER put your entire net worth into a project. Elon has always been nothing but an exception and almost no one else has ever profited taking that kind of risk. Elon is not an example to imitate. He goes from relationship to relationship to relationship, he works 120 hours a week, almost all his personal wealth is tied to his businesses, and he even admitted sometimes he wishes he wasn't himself. This is a man to look at and speculate, not someone to imitate.

randdude220 13

That link takes me to a meme

TheWolfofWallStreet1 3

Birds of a feather flock together. The best thing you can do to learn from a winner is surround yourself with winners

aot2002 1

Why do they keep crapping all over my house every morning? I hate those birds

emperorvladimir 3

The whole “wake up at 5am everyday and workout or else you will be poor” is all bs. It totally depends on your business and lifestyle.

Wellas 3

I mean you have a point but also it's kind of silly to say that just because they did it a while ago, they can't help you. Like, if bezos tells you the number one most important thing he did was make meetings with people in his Rolodex, what are you gonna say? "Oh a Rolodex is old and I don't have one of those so the advice doesn't apply." No. Pretty easy to take the concept and apply in to modern times like, "oh, he's saying networking and keeping in touch with his contacts was essential to his business, I can try to do more of that."

Know what I'm saying?

allbusiness42 3

It was cute when Bezos pretended that he still drives himself anywhere.

BHN1618 3

How do you find those people? I would love to respectfully learn however the first partnership/ mentorship I had I learned a lot however it became toxic and I had to end it for both our sakes. I happened across it randomly so I don't know how to find it actively.

fattpuss 3

There was an interesting post, possibly here or on motivational, about how your 24 hours are not equal to someone else’s. Those with money can hire assistants, cleaners, can eat out, can get more childcare or even a live in nanny. While you’ll be having to do your dishes. Do your own driving. Do your own laundry. Do your own cooking. They’re routine is so irrelevant to the general population because they just flat out don’t need to do the dross of daily life.

ATX-Girl- 2

Yeah one of the most toxic memes marketed to females is “you have the same 24 hours in the day as Beyoncé” ....no. No you don’t. She has a team, a whole corporation behind her

AjaxFC1900 3

Don't worry about anybody.

In the end everybody is just winging it. Even if they didn't ,what they did worked for them , and in that determinate moment and circumstances. Such conditions will literally never happen again given how complex system works.

So you'd be better off thinking for yourself.

OhNoATriple 3

Very well said. Ahh Sega megadrive makes me nostalgic, I remember playing sonic for hours n hours on it! Loved the game

  ChristopherGS 3

Those Sonic games were awesome!

alex3tx 6

>These are people so much further ahead than you in their entrepreneurial journey

Not for long

CIRFinance 4

This advice is incredibly underrated. They likely didn't have any of those routines until they had already achieved some level of success. Habits are important, but you're not a billionaire, so trying to act like someone that's already made it isn't the way to go.

Chabubu 5

Can you realistically implement the routines and habits of someone that never has to:

  • Cook their own food
  • Clean their own house or do their own laundry
  • Feed or walk their own pets
  • Raise their own kids
  • Run any errand, or do any chore, that isn't directly related to growing their business
  • Drive themselves anywhere
  • Schedule their own meetings, take their own notes, or keep track of followups
  • Do any mundane, menial tasks
  • Train or manage anyone that isn't highly skilled/capable
  • Manage their own finances
  • Manage their own to-do lists

    Once people are mega wealthy, they can outsource 95% of the stuff that takes time, drains energy, and proves to be a distraction from their business/relationship goals.

    Every wealthy person at that level can advocate performing an hour-long morning routine, daily exercise, evening meditation and before-bed note-taking and goal setting because they've eliminated the 4-6 hours of other daily crap from their schedule. Stuff that you have a hard time eliminating at your current level.

    Obviously they broke through and got to the level that everyone else dreams of, but I doubt that Jeff Bezos was following any of his current advice, or even had time for it in 1994 when he moved to Seattle and set up shop in his garage.
drive2fast 5

Elon Musk has to work that hard or he’ll never get back home to mars.

tiki_drank 4

And now I drink Soylent

wtnua06 6

Exactly. Emulating their routines is silly. That is letting the tail wag the dog. They aren’t successful because of their routine’s, they have their routines because they are successful.

mechcoder598 7

This is golden advice, not just from an entrepreneurial point of view. I made a lot of blunders in my life listening to people who are 20 years ahead in the curve. I am now paying for it.

  ChristopherGS 4

Same. I shouldn't have listened to a 50+ VC who advised me to build a wearable. Lost 6 months to that project.

_BrianBoss_ 12

“These are people so much further ahead than you in their entrepreneurial journey that their advice is not actually going to be that useful”

Very well said my guy.

lurkerofredditusers 11

Guys like Bill Gates in particular had success very very early in life. He had connections through family and he was focused on building something he was passionate about. I have a feeling his goal wasn’t to be one of the richest people in the world.
I’ve met a few people that are 25-30 telling me they will be the next Zuck or Gates. I’m always like ‘well their goal wasn’t to be the next ____, they were focused on a product they were building not how awesome it would be to be rich, and your’e 5-10years late to the party.’

Also aiming to be the most successful people in the world is aiming to be an anomaly. It’s not impossible, but why aim for something that is unattainable for 99.9999% of people.

Sketch_Crush 7

There's one thing in common with every billionaire: they never intended to be a billionaire. If someone's primary focus is to achieve that kind of wealth, they will never achieve it.

Paranoidexboyfriend 1

Pretty sure Warren Buffett calls bullshit on you

Sketch_Crush 10

Warren Buffet didn't become a billionaire until he was 56 years old. Much of his career was being an analyst more than an entrepreneur. He never set out to be a billionaire, he just made a ton of smart financial moves very slowly throughout his career.

ATX-Girl- 3

They were already pretty wealthy to begin with. All of those guys, Bezos, Gates, Mark Z came from upper middle class backgrounds that provided them the best education. Bezos father was an engineer, Gates father was a lawyer, I think both of Mark’s parents were doctors. Not a knock to any of them but they were not necessarily starting from the bottom or going hungry by any means....

Sketch_Crush 3

Yet you could look at someone like Howard Schultz or Oprah, both raised in poverty in the projects and they became billionaires too. Whether you come from poverty or riches is irrelevant; your circumstances don't matter. The only thing that matters is your response to those circumstances.

someguy5500

thats such a shortsighted thing to say. "your circumstances dont matter" lmao ok.

ur8moms 24

Even if you were to read what elon musk’s routine is or what jeff bezos eats for breakfast, you should be able to grasp the motivation to design their life that way. The actual advice may be vague, outdated and impossible for you but there is always common denominator as to why they do what they do

00Anonymous 3

I think you nailed it the first sentence - successful people are always in process of actively designing their lives to enhance their success.

  ChristopherGS 27

Yes it can be inspirational fodder - and once in a while you need that. The mistake I see is people treating it as actionable advice

TheWildHorses 3

Aspirational fodder is exactly that.

You don’t need Bill or Elon to motivate you, if you do, get yourself some good friends who are trying to achieve their own life goals.

We’ve got to stop worshipping people, they’re not you, you’re not them - find comfort in yourself and how you take on challenges.

ur8moms 12

Agree 👍

ejpusa 13

The consensus advice seem to be: never grow up, never lose that sense of curiosity and wonder with the world. Once you do it’s all over.

A most amazing interview here with someone who changed it all, Kubrick. A great read if you have the 60 seconds.

I like to read autobiography’s and read obituaries, think can learn a lot from other people’s journeys. But that’s me.

Enjoy!


Playboy: If life is so purposeless, do you feel it’s worth living?

Kubrick: The very meaninglessness of life forces man to create his own meaning. Children, of course, begin life with an untarnished sense of wonder, a capacity to experience total joy at something as simple as the greenness of a leaf; but as they grow older, the awareness of death and decay begins to impinge on their consciousness and subtly erode their joie de vivre, their idealism — and their assumption of immortality.

As a child matures, he sees death and pain everywhere about him, and begins to lose faith in the ultimate goodness of man. But, if he’s reasonably strong — and lucky — he can emerge from this twilight of the soul into a rebirth of life’s elan. Both because of and in spite of his awareness of the meaninglessness of life, he can forge a fresh sense of purpose and affirmation. He may not recapture the same pure sense of wonder he was born with, but he can shape something far more enduring and sustaining.

The most terrifying fact about the universe is not that it is hostile but that it is indifferent; but if we can come to terms with this indifference and accept the challenges of life within the boundaries of death — however mutable man may be able to make them — our existence as a species can have genuine meaning and fulfillment. However vast the darkness, we must supply our own light.

ANakedSkywalker 14

It’s like any sport. The athletes at the top have known strong and weak points that they develop their training and game around. Everything they’re doing is to work on the 1-2% things to take them to 100%.

You at the beginner level aren’t yet good enough to have any strong (or therefore weak) points. You need advice to get you up to intermediate, taking on the big building blocks, before you even look at what the top guys work on.

wtnua06 8

This is a good point. Just because Tiger Woods May be working on how to fade his 7 iron doesn’t mean you should. You may need to focus on making solid contact first.

cocarossa 3

Shots fired right here

avjourney 43

100% agreed. And often enough the routines change for successful people WHEN they become more successful, instead of when they are just starting out. That changes quite a lot.

Good_Roll 3

Also im betting that once you become successful, certain activities tend to pay off much more than during the bootstrapping phase(delegating, focusing on strategic vs tactical decisions, extreme time management)

chagawagaloo 10

I'd be interested in hearing about these guys' routine when they were still in their bootstrapping phase. Billionaires can afford the crazy, harder to achieve routines when they've already got things going.

getonmalevel 2

You can probably suss it out from various big successes by reading biographies of people around them. Like paul allen's basically just said what one would expect. Bill Gates was a workaholic and unrealistic expectations on his coworkers. He would sleep on the office floor after longer spurts of work. Only times he'd unwind would be to dissapear for random stints and do weird things like speeding around, getting obsessively into things like water skiing, etc.

BlergingtonBear 6

Agree absolutely. Someone having a super specific magic "brain food" diet or something is a little less achievable when you realize they have someone to make it for them and an assistant to make sure it gets to them and all that jazz. The rest of us are still bound by those earthly concerns- food, rent, day jobs, dependents if you got 'em, etc- on top of any entrepreneurial aspirations!

  ChristopherGS 15

So true. Once success is achieved the tune changes and so does the routine (I assume, I'm still hustling!)

Nose_Grindstoned 21

Can you believe there’s actually some writer or journalist or whatever that scores an interview with Bezos or one of those types... and the interviewer actually thinks that asking “what do you eat for breakfast?” is one of those enlightening factoids that matter.

“Ooooooooh so Bezos eats Cap’n Crunch and he’s worth 100trillion, maybe if I eat Cap’n Crunch I’ll be worth 100trillion.” I mean, who the fuck is even doing this?

xeneks 5

What was that worship no false idol stuff? Don’t worship the Capt’n crunch, worship bezos! You know who your saviour is, and it ain’t cereal!

Oh wait, oats and cinnamon and honey, gratitude and worship to those who let me eat that without me having to roll them myself.

Nose_Grindstoned 5

I’ve been worshiping a cereal bowl most mornings for over 4 decades. You’ve just helped me realize what my savior is.

Sketch_Crush 9

I understand why journalists ask those questions though... I mean, it's not useful information, but out of pure curiosity I'd be interested to know what the richest man in history does day to day and if there's anything he does that resembles a normal person's life.

cocarossa 3

I feel like they’re just fillers

wtnua06 14

Don’t undersell Captain Crunch. That shit don’t need Bezos, it stands on its own! Lol

OverFlow10 23

Man speaking right out of my heart! I’m in the business of building websites, and normally just focus on churning out content. Maybe some interaction with relevant Facebook groups or Reddit channels here and there.

Been reading books and those self-help cookie cutter advise content for ages, didn’t get me anywhere.

The one and only thing that works is to just start and keep working.

breakshot 6

If I can throw something out as well: started my own business in January, no loans, no investors, nothing - I’m on track to gross six figures by December (I’m proud of that, but for some that is nothing). I do the same thing you describe, looking for advice and scouring for answers to make sure I’m doing the right things. Ultimately what I have found even in this short time period is that bravery/courage is the number one element. Just having the stomach and the constitution to stick it out and keep going. I’m beginning to think that’s one of the main things that indicates success. Just keep doing it, every day. Stay disciplined, do the next right thing. Keep your world small, as they say. Have people that keep you accountable and keep you diligent. The rest seems like it falls into place.

Tyler119 17

you have cracked it on some level there. Gates, Bezos and the rest just worked their asses off in the early days. Likely working nearly 7 days a week day and night to begin with. Even when Microsoft took off Gates was still working non stop. We live under this false illusion that anyone can become the next Gates or whoever else is bloody rich. That idea really has no place in reality. Most fail the understand they are more likely to win the lottery than be one of those guys. Nobody lists the amount of business owners that failed as that number would make start up owners cry. The same goes for musicians. The number that fail to get a paying gig vastly outnumber those that do. The idea that if I read a book that Gates reads then my life gets better is total bullshit. That kind of thinking is as dangerous as blindly following religion and expecting that God will deliver to you one day a golden fucking goose.

kippypapa 1

Totally. I think your point is that you have to know what to work hard at. I've done the whole grinding day and night thing, but toward a purpose that wasn't getting me anywhere. You have to pick something that you're interested in but something that also has a light at the end of the tunnel. And it's gonna be different for everyone.

preheatpeshwari 37

Spot on. I always see people asking for the secret sauce on how Elon Musk or someone manages their time or what their system might look like. They hire people to manage each system within the businesses and spend the majority of their time planning several moves ahead .

[deleted] 4

[deleted]

sgiuxxx

Yep, he's a big boy.

sgiuxxx 3

Yep, he's a big boy.

ks9836 18

Elon just does copious amounts of uppers.

ejpusa 13

Grimes rules Elon. The word is she has connected with AI from the future — and made a deal, to spare us humans. Poppy may be involved too.

Just an AI rumor. She seems to explain it all here. I’m a Grimes believer. :-)

https://youtu.be/gYG_4vJ4qNA

lizardpplarenotreal 6

OK this is a conspiracy I can get on board with

Sketch_Crush 47

I remember a few years ago Bill Gates did an AMA on reddit. Someone asked him for advice about the best way to use your money if you make less than $50k a year. Bill gave his opinion but he also admitted it has been a very long time since he made that little amount of money and therefore he might not be able to give the best advice about that.

JustHereToRedditize 8

What was his advice?

Sketch_Crush 23

His advice was to reinvest in education. Which I personally think is good advice in a lot of circumstances but there's also a lot of other factors to take into consideration.

johnrogenald 3

True, like Time.


You invest in reEd, you're going to need more than money. Also Time. And as with any investment, you aren't even sure that ReEd is going to benefit you long run.


Not saying that route is a bad thing. Just saying what you said is true, about the factors into consideration.

YodaCodar 107

How do you feel about entering a market where companies already make billions in revenue but you can do it faster and cheaper?

bannerflugelbottom 1

I work in tech. I see this stuff all the time. There is plenty of room for competition as long as you find your niche and do it well.

Brilliant_Focus 1

Not OP, but business is all about competition. Who can provide the best service or product the quickest and/or cheapest?

If you can reasonably set yourself up to compete with the giants based on the two key factors you mentioned while maintaining quality, of course there's possibility to compete. Consider Facebook, Google, Tesla, Stripe, etc. Each of these companies evolved by stealing market share from larger, more-established companies, and some went on to become the giants themselves.

Of course it can be done because that's the nature of business, but you have to consider your specific situation: resources, decisions, partnerships, and all other aspects which actually grow a business.

xnign 1

This is true of some restaurants and retail - I'd expect a similar range of possibilities. If you can make some money right away without too much investment, great. Otherwise you may play the same game as the restaurants do - invest all your time and money for 5-10 years just to hope to shoot past break-even. It can work, and it can fail. Want to share what market you're looking at?

Oflameo 1

I am all for displacing Oracle. I will pay people to displace Oracle.

moskovskiy 1

Well, in a way, you are always entering existing market - market of money, time and resources :)

californicat 4

Is the methodology proprietary? If not, you’ll have a tough time.

YodaCodar 1

The method is not proprietary its just the ability to do more with less people and less work in general.

benkelly92 9

Racing to the bottom, price wise, is always going to be difficult.. is the reason you can do it cheaper because you aren't doing it at scale?

shady_mcgee 4

> is the reason you can do it cheaper because you aren't doing it at scale?

Does that really matter? My goal is $15M in revenue at 10% margin. If I meet my goal I'll still be amazingly tiny compared to my competitors, but I'll also be making $1.5M/yr

benkelly92 7

If you can do it to a scale that meets your goals. Than you're right, no, it does not matter.

Best of luck with your endeavours.

YodaCodar 1

nah at scale it would be cheaper.

literallytitsup69 6

It depends on what it is, there are plenty of new companies that offer CRM that aren't salesforce, but you probably shouldn't start a video streaming service... I'm also not rich and on reddit so take what I say with a grain of salt, follow your gut!

  ChristopherGS 63

If it's a market that size, presumably there's someone 2-5 years into doing it faster and cheaper who you can look to? But don't listen to me, I've not entered a market where companies make billions in revenue..

lurkerofredditusers 9

Pearson?

rmlrmlchess 2

If I'm understanding everyone correctly, OP wasn't in that industry after Pearson made billions

lurkerofredditusers 1

That makes sense