Starting a Business is Easy
Many people think that it’s hard to start a business and you need a brilliant idea. I have mostly followed an approach that’s pretty much the opposite of that. I recently joined a mastermind group with others who are dedicated to pursuing the easy approach to business so we can further refine and practice these ideas.
The “business ideas” you see on TV that seem like a lot of work and a big struggle are really just examples of bad business ideas. The reason they are so hard to do is that people do a lot of work before even knowing if anyone cares so most of their work is wasted. And as a result they are very likely to end up going down a path with results that are mediocre at best. Lots of work + weak results = bad idea.
The way I approach it turns everything around. As Ramit Sethi likes to say you don’t need a business card, a website, or a twitter account. All you need to do is talk to people until you find someone who needs help and will pay for it. Once the first person pays you, you have a business.
Then you keep telling stories about how you have helped people. By doing this you will find more people asking for help. Over time as you get a better idea of what people need you for and the demand grows, you can raise prices. If you discover new needs along the way you figure out a way to sell something for that. When things are really rolling along you can start hiring people to help you and make sure you have the right profit margin to support that.
Keep doing this and you’ll get steady growth in your business. Keep up the steady growth and you can get it to any size you want. There are challenges along the way, but if you keep an open mind and you stay as flexible as you can for as long as you can, you can take it anywhere you want. Keep trying new ideas along the way and you can build up new lines of business to grow faster. Even large corporations will go down quickly if they forget these principles.
And that’s all you need to know about starting a business in 300 words.