What is The SECRET to successfully starting, building and running a business?
The real secret is that that are no real secrets – Not really.
There are just things you already know and things you have not discovered or learned yet. Though I get the SECRETS thing… Hell I may even use it every now and again myself!
It’s Catchy… It gets peoples attention. That is really what its all about in a noisy world – getting attention, and when you slap that word on stuff you usually get at least some attention.
Starting and running a profitable small business combined with a few other simple procedures can be an absolutely life changing thing, and it is a possibility for absolutely anyone who wants it bad enough to do it. That includes YOU!
Here are a few things for you to consider first;
- Marketable and Profitable – Pick something you can actually provide that adequate numbers of people will pay for at a price high enough for you to make a decent profit. Otherwise you may have a hobby – but not really a business.
- Expertise and Knowledge – You need to know something about what you are doing. You may have it already from your work and life experiences and or previous study and research – or you may need some additional classes, training, and or research first. The information is available if you look for it and are willing to do the work to get it. Udemy, Lynda and numerous other sites offer courses and training as well many other resources. I teach courses on Udemy and here on this site in our members only area as well as other places occasionally.
- Adequate Funding – The truth is it doesn’t take much money to start a micro or very small business – and I strongly suggest you start samll rather than go in debt and then fall on your ass like many do when it becomes evident they didn’t have the knowledge or skills to pull it off. Start tiny and learn as you go – reinvest your money back into the business and grow it. That’s not how most people do it – most spend it on non essential things or personal stuff instead of feeding the business. Build your business, build your knowledge and skills and the rest will come in time.
- Manage Your Money – You must know where every dollar is and where it is going. You should always work to maintain a more than adequate reserve fund at all times. Failing to have reserves and mismanagement of financial resources puts a lot of otherwise good business that could have done well out of business before they even get started good. So Don’t do that.
- What is Your Business? – Describe it clearly in one or two sentences. Until you can do that keep working on it. Its hard to accomplish something when you aren’t even clear with yourself what you are trying to do. So get clear.
What business interests you right now that you can start for under $1000 immediately?