WANT TO START A BUSINESS? HERE ARE 2 SIMPLE RULES THAT HAVE CREATED MILLION DOLLAR BUSINESSES WITHOUT A BIG INVESTMENT
I wish I would have known this sooner. Then again, when the student is ready the teacher will come. If you’re trying to start a business, it can feel daunting. There is a myth that it has to be expensive. But here is what I found.
RULE 1: MAKE IT SIMPLE
To start the any business you only need to understand 2 things well:
- Building a list (of customers)
- Using the list
That’s it. Because of the dematerialization of our economy the fundamentals have changed. In an “atom-based” economy larger upfront investments and teams may be necessary. In a “bit” (information) economy, you can start with little or no investment and grow your business to support you and your family without building a large organization.
Here are the questions you may consider if you don’t want to invest a lot, be tied down in one location or manage a large team:
RULE 2: MAKE IT SMART
- Are you using an expertise and passion you already have?
- Are you selling information?
- Can you fully automate the business?
Answering these 3 questions with yes is your high-mark. You may land lower than that (initially). But a yes on these big 3 questions should be your north star. Maybe your passion is making pie. So you want to open a pie shop. This business is local and to grow it into other locations can be expensive. Instead, could you add an information product to your business? Like a nationwide online course: “How to make the perfect pie”. Once you put together the course this business can be fully automated.
Wouldn’t it be nice to spend more time with your family and friends or on causes you’re passionate about? Well this is how you do it 🙂