Filtering Out the "Talkers" from the "Doers"
It may take one month, a year or two to get ones business to $10,000 per month in sales. Generating revenue for the business without any outside capital is really tough. It almost next to impossibility but a few out there who manage to build viable businesses without lots of capital. Out in the world there are more than millions of people who have great business ideas, but only selected few, probably 2-3%, can take an ordinary idea and execute that is turning it into something that people are willing and able to pay for, over and over the amount it cost to make.
This tough process filters out the talkers from doers. Many of us are talkers, Investors already can tell the difference, when they invest in someone who has already figured out the way to create something from nothing guarantees a higher chance of generating a return than taking a gamble and investing in someone with an idea that needs money to even get started. If you that type of entrepreneur who cannot get started until you have raised funding should learn to become more creative and come up with a way to build a simpler version of the product that customers are willing to pay for and at least solve a their problem or be able to come up with a prototype that can prove there is demand. Investors hear this crappy pitch all the time, "I just need $50,000 to get started". As I write am a victim of these words, I send applications and meeting potential investor with this talk, over 9 months now, it's not that I have lost faith in my course to search for funding but I have to focus on growing with the little I have in other words I have to learn the art of bootstrapping. I have to keep going whether I raise funding or not!! My advice to you "find the thinnest slice of what you can do to get started." Come up with a plan to raise the least you can get from your own savings, friends and family.
1. Incorporate. Register your business or protect your idea or find a lawyer to advise you. 2. Find a co-founder, someone to balance your skill set, someone you trust and someone you can build a business together. Choose well this person can make or break you. It's more of choosing a marriage partner. 3. Convince people to work for you in exchange for a deferred salary or a share of the business. 4. Create a product that people love and are willing to pay for. 5. Sell, sell, sell. It's the only way you are going to grow your business. No sale, no Business, No growth. 6. Re-invest your revenue into the product and marketing. 7. Once you hit $10,000 in sales, now go look for funding, you will probably get more than you ask, investor may even knock on your door.
That's how you do it, this separates you from a talker to a doer. One step at a time, so get started.
It may take one month, a year or two to get ones business to $10,000 per month in sales. Generating revenue for the business without any outside capital is really tough. It almost next to impossibility but a few out there who manage to build viable businesses without lots of capital. Out in the world there are more than millions of people who have great business ideas, but only selected few, probably 2-3%, can take an ordinary idea and execute that is turning it into something that people are willing and able to pay for, over and over the amount it cost to make.
This tough process filters out the talkers from doers. Many of us are talkers, Investors already can tell the difference, when they invest in someone who has already figured out the way to create something from nothing guarantees a higher chance of generating a return than taking a gamble and investing in someone with an idea that needs money to even get started. If you that type of entrepreneur who cannot get started until you have raised funding should learn to become more creative and come up with a way to build a simpler version of the product that customers are willing to pay for and at least solve a their problem or be able to come up with a prototype that can prove there is demand. Investors hear this crappy pitch all the time, "I just need $50,000 to get started". As I write am a victim of these words, I send applications and meeting potential investor with this talk, over 9 months now, it's not that I have lost faith in my course to search for funding but I have to focus on growing with the little I have in other words I have to learn the art of bootstrapping. I have to keep going whether I raise funding or not!! My advice to you "find the thinnest slice of what you can do to get started." Come up with a plan to raise the least you can get from your own savings, friends and family.
1. Incorporate. Register your business or protect your idea or find a lawyer to advise you. 2. Find a co-founder, someone to balance your skill set, someone you trust and someone you can build a business together. Choose well this person can make or break you. It's more of choosing a marriage partner. 3. Convince people to work for you in exchange for a deferred salary or a share of the business. 4. Create a product that people love and are willing to pay for. 5. Sell, sell, sell. It's the only way you are going to grow your business. No sale, no Business, No growth. 6. Re-invest your revenue into the product and marketing. 7. Once you hit $10,000 in sales, now go look for funding, you will probably get more than you ask, investor may even knock on your door.
That's how you do it, this separates you from a talker to a doer. One step at a time, so get started.