Biggest Mistake That Sets People Back When Starting a Business.

 

Wake up. Come up with a great idea. Have your morning cup of coffee. Tell people about that idea. Decide you will start a business. Quit your job. Start that business. Fail. That’s your destiny (unless you don’t drink coffee).

Here’s the problem. You are bound to fail because you will find or already found some online guru that will either tell your or already told you that you don’t need money to start a business. YOU DO. It sure does make them money to sell you a course through a blog post or a video, I mean, that way, they don’t have to advertise? Right.

Starting a business without a steady income is a suicide for your business. YOU NEED MONEY!

 

Do you really want to build a business? Have an income. The income part is what fucks people up. When you have money, it’s a lot easier to build. It’s a lot easier to negotiate. You don’t have to debate. You have more choice. You can take more risks. You can advertise more. You can send more products to influencers. It’s that simple. MONEY is vital. The more money, the more selling you can do. Sure, you can start a business and build up, but it’s going to be a lot harder to build it up when you have to debate over which option you can afford due to a limited budget.

People feed you this nonsense that you don’t need any money to start a business. Yes, you don’t need as much as you would have needed in the 1980’s. Yes, there is a chance that your business idea is going to go so viral that you won’t need funds. But let’s be real, it probably won’t happen. And you can tell me that you are that guy that is different. Great. Do it and then show me. And I will love you for it.

But that coffee business that you claim is going to change the way we drink coffee, it probably won’t. Not unless you have money to do some damage. Starbucks won’t fall down with your $20 a day marketing. That’s not to say that you shouldn’t market if you only have a budget of $20. That one individual that sees that ad might be an investor that is willing to invest in your company. Now, I’m not going to go into detail about investors as most businesses without money will fail instantly.

You cannot do it without an income. Don’t quit your job and go all in into your business. Not unless you have money saved up. Without money, your idea is almost certainly doomed.

Luckily, It’s 2017. There Are Some Modern Ways to Gather Funds.

  • Side Job.

Have a side job. Push all of the income that you make through it to your business. Start freelancing. People are willing to pay up to $5 dollars for you to add text to an image. Minimum work. But if you get enough of these, that’s quite an income for such a simple job. On the other hand, you can also hire people to help with your business on these sites.

Fuck it. If needed, gamble. Now, a disclaimer. If you fuck yourself up with your mistakes, I’m not responsible. If you are good and responsible, it might be worth it.

If you make $300 on the weekend, that $300 can power your advertising. Sure, it’s not even a lot for advertising but it sure helps.

Great sites for freelance jobs/work:

Fiverr.comUpwork.com

  • Crowdfunding.

It’s been on a roll. There are many great ideas that are becoming a reality because of crowdfunding. People that are looking for products they never saw before are willing to help with them.

And It goes great with the first point. That side job can provide you with an income to power the advertising for that campaign. Marketing is still needed.

Crowdfunding is also a great way to build up customers. Even if you don’t need it, it’s a powerful tool that can you grow. You can build up customers. It’s filled with a community that’s looking fro new products. Once your project starts trending, it appears as trending. You can collaborate with other companies on it. It’s a great tool. But even with this, to succeed, outside marketing is greatly needed. That’s where having a side job works great. Unless of course, your project is so damn fucking good that it just speaks “BUY! BUY! BUY!”

Here are some of the most popular ones:

Kickstarter.comIndiegogo.com

  • Pre-orders.

Sell before you have. Common tactic. This will kill your business if not done right. Yes. Do pre-orders but let people know when the product will be finished. And don’t be late. People might want a refund if you don’t deliver on time. And then you might be in trouble.

Now, I didn’t include investors because here’s the thing, if you don’t have any money at all, your business will more than likely not turn into something that people will invest in. Ideas aren’t good enough. Sometimes, sometimes one idea is strong enough, but most often you need to execute and show something more than an idea.

Here are some great books that can help you. Reviews coming soon.

Unshakeable by Tony Robbins – You Are a Badass at Making Money by Jen Sincero

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