Start Your Own Business

Call me crazy, but I’ve always been interested in business and entrepreneurship (a word I cannot honestly even spell on my own). I’ve always been interested, but never started anything.

I have been frozen by the same question that many people are frozen by, the same people who have also fantasized about starting their own business. What business should I do? Hopefully, I can shed some light on this question.

It wasn’t until recently that learned that this is actually a false question. I know “what” to do. I just needed to learn “why” to do it. Allow me to explain.

You can pretty much agree that you have some value…correct? This value is inherent in you education, skills, personality, and so forth. I mean, if you have a job today, your skills are at least worth a set dollar amount to your employer. (Possibly undervalued dollar amount?)

What person are you? You could be a person who builds things, fixes things, writes things, encourages relationships that otherwise would not have happened. Even if it is just reading your favorite magazine and talking about the articles with friends. In a world that is lacking that social touch, there is a market for that today. It’s called YouTube and podcasting! Yes, people literally watch other people talk about things ….. I know! It’s crazy. (And there are clever ways to monetize)

The general answer to the question “why” is; you are doing this to change people for the better. Let that resonate as the key component. Seth Godin teaches to “be generous enough to do work that changes people for the better”. Keep in mind:

• Don’t quit your day job until people start paying you.
• Don’t wait until people start paying to start putting in the word.
• Don’t start putting in the work, if it’s not something you enjoy. If you want to make money doing stuff you do NOT really enjoy, just do it for a corporation with a matching 401k program.
   

This advice from Mark Cuban on how to fund your business is really refreshing. He is a billionaire, and he literally believes that the best way to fund your business is by doing your own work (aka free).

 

Mark Cuban’s (billionaire, Shark Tank star)-How to raise money for your business via Chase Jarvis Live.

 

 IN ORDER of precedence;

 

1. Sweat equity (costs you NOTHING, but your hard work)
2. Customer equity (Customers buying your product)
3. Crowd funded equity (raising $ via donation from people who want to see your product developed and available to the world)
4. Venture capital $ and Bank $ (money that you owe back, with strings attached)

 

So, with the “why” question out of the way, what would possibly hold you back?