Your startup will own you.
But, as a pharmacist, you already know what long hours are like.
And you're clearly smart enough to have acquired a degree in pharmacology. So now, all you need is an idea and commitment.
Here's a sad story, and a lesson:
A few years ago I helped a guy launch a cool product called StairCycle. It was a really solid product idea. And he even had it manufactured like a pro. No problems there.
We got him on a Yahoo Small Business Contest - and he won! Richard Branson (yes, THAT Richard Branson, of Virgin fame) had us Fedex a StairCycle to his private Island. He loved it, and crowned it Best New Product of the Year. He
even had the founder of StairCycle meet him in Times Square, announced
on national TV, with a PR campaign, and $100,000 in advertising and web
development provided by Yahoo.
It's a home-run, right?
Wrong.
I called the owner a few weeks later to ensure everything was on schedule (production, the new website, ads, PR, deliveries, channel relationships with bike shops, Target, etc...).
Guess where he was?
Sitting on his new Barcalounger, watching his new 50" TV. And he told me he's tired, and didn't feel like he could handle the pressure of the startup life. His
day job as an X-Ray tech gave him enough money that he didn't feel the
burn a true entrepreneur feels for his vision, customers, products,
employees, partners and investors.
The company died that day.
He
could have owned a multi-million dollar company with just that one
product. It was slick, easy to ride, fun, and a great workout.
But being
an entrepreneur means more than a great idea and a killer product
launch. It means you invest yourself, your soul, into your work. Maybe
not forever. But definitely long enough to get momentum, stability and
the resources to hire real players to fill-in your team. Even a
CEO/President to run the dang thing when you're about ready to die from
too many 100 hour weeks.
But... it's worth it.
Even when you fail.
Because you've become a greater contributor to the world through your actions, commitment, learning, and hopefully, giving.
The
first step towards your starting your business should be getting your
business incorporated. The incorporation of business can be generally
done in 5 ways:
- Sole Proprietorship Company
- Partnership Company
- One Person Company
- Limited Liability Partnership
- Private Limited Company
Sole Proprietorship Company
This
is the easiest way to start a business in India. When the business is
owned and managed by a single person Sole Proprietorship Company may be
formed. A business can be up and running in this format within 15 days
There
is no separate registration required for Sole Proprietorship firm. Tax
and other mandatory registrations like VAT, Service Tax, Professional
Tax, Shops & Establishments Registration, etc., will certify the
existence of this firm.
It is best for business
owners with no or few employees, such as consultants, who can handle
legal risks with adequate insurance or do not have assets to protect but
this model is not suited for ventures where there are two or more
founders.
It is also good if there is only one founder who wants to experiment with the venture and gauge feedback before diving deep.
No foreign investment is allowed in a sole proprietorship.
Partnership Firm
In
a partnership firm two or more individuals manage and operate a
business in accordance with the terms and objectives set out in the
Partnership Deed. Getting the registration of a partnership firm done is
optional and a partnership firm can be registered under Indian
Partnership Act, 1932.
The Partnership deed has
to be printed on a Stamp Paper and has to be notarized. After this, an
application is to be made to registrar of Firms of the state to get
registered. The registrar of firms accepts the request and allots a
registration number to the firm.
This
registration can be done anytime i.e. either at the time of starting the
company or during the continuation of the operation of the company
Advantages of Registering a Partnership Firm
The Partner of the registered Partnership firm can file a case against the firm or other partners of the firm.
Case can be filed against Third Party by having the partnership firm as one of the Parties.
If
the venture is an experiment and the founders are unsure of how it will
run, then a partnership firm is a good option. One of the biggest
advantages that a partnership firm has over its competitor entities is
that it is less cumbersome to wind up if the partners so desire. That is
why, this is a big factor when the founders are looking to start a
venture more as an ‘experiment.’
No foreign investment in allowed in this too.
One Person Company
One
Person Company is the improvement over Sole Proprietorship firm which
gives complete control to one founder and gives a benefit of Limited
Liability to the founder.
OPC is registered with Registrar of Companies (ROC) under Ministry of Corporate Affairs (MCA).
In
terms of capital, an OPC, requires a minimum authorized and subscribed
capital of Rs. 1,00,000. In case the subscribed capital goes beyond Rs.
50,00,000 or the turnover exceeds Rs. 2,00,00,000, OPC has to file the
requisite forms with the ROC to get its status converted into a private
limited. Winding up of OPC follows the same process as that of a private
limited company. It takes time and can be fairly expensive.
OPC
is best suited for a single founder who wishes to launch his/her/its
product/service in a more structured manner and get a taste of how to
run a private limited company. However, like a private limited company,
it is not meant for a founder who is still looking to ‘experiment’ with
the venture.
Foreign investment is permitted with subjects to OPC-centric thresholds.
Limited Liability Partnership
LLP
is a significant improvement on Partnership firms, which give Limited
Liability to the Partners involved and also it has lesser compliance's
compared to a Pvt Ltd Company since the working of an LLP is solely
dependent on the Partnership deed that is drafted between the partners
and is filed with ROC.
It
gives operational ease to partners to manage the business and creates a
system of accountability through the mandatory ROC filings. However,
conversion of a LLP into a private limited company is still a grey area.
Therefore, if the founders wish to convert their LLP into a company,
they will have to independently incorporate a company and have that
company acquire the LLP.
Foreign investment is permitted in this but only after government’s approval.
Private Limited Company
Private
Limited Companies are the most preferred option for any startup that is
looking at scaling up by external funding as it is very easy in Private
Limited Company to issue fresh equity shares in lieu of funding
received.
Unlike
a sole proprietorship or a partnership firm, in case the co-founders
decide to shut shop because the venture did not work, winding up a
company is not easy. It is a completely court driven process and can
take anywhere between one to two years. No founder is happy about
spending (more) money just to wind-up a company, especially since the
company is being wound up because it did not make enough money!
So
clearly, if the founders are only experimenting with their idea or
don’t want to invest too much money in the entity but use it towards
their business, a private limited company may not the best option. From
an investor’s perspective, a private company is a stable structure
because not only is their investment relatively secure (due to the
ongoing monitoring by regulatory authorities), it also demonstrates the
seriousness of founders to do business.
To understand them you can visit : Business Incorporation in India - Wazzeer
Further, one needs to get the tax registration done for his business and also, one needs to make a bank account.
You
will also need to get the clearances and licenses obtained from the
municipal corporation of the locality for your shops/ warehouse/
godowns, etc.
Also, you need to establish
certain more licenses depending upon the nature of your product in which
you deal like for example if you are dealing in food products then you
need to have a license from the FSSAI.
You should also do some market research on how and where to target and how to fetch cheap and good products.
I have successfully started a number of business and I use the following strategies:
1) Ideas that are within my skill set and that I could understand and conceive a step by step plan.
2) Cash Flow Rich: the idea would have to be cash flow rich, ideally I would get paid first and then pay out contractors, etc.
3) Minimal Effort: the idea has to be such that I can manifest it with minimal effort, time, etc.
4) Dynamic Partners: I have the potential to involve current partners or new partners in the project.
5)
High Margins: I strongly prefer ideas with very high margins. I would
rather sell 1 product per year for $1m than a million products for a $1.
6)
Affordable Loss: ideas that would cost me no money to test or such a
low amount that it wound not adversely effect my finances.
Once
you have an idea like this, learn as much as you can about the
ins&outs and try to SELL. I strongly prefer selling
products/services before I even have the said product/service in hand. I
want to know the dynamics of trying to sell which will give me feedback
and a slew of information. In the process my goal and direction might
completely change.
there are many good answers on the same. But i would give u some of tips from my understanding :-
- Find the problem, solve it. Untill
and unless you are solving a problen, you wont be able to run business
in a long run. If you think an idea is great, then you should make sure
that idea solves a problem.
- Be financially strong. Make
sure you do not lack funds. It doesnt mean that you should he
financially strong before starting of business. But you should be able
yo raise funds from sources and you should be able to have backup plans
in between the cycles of business.
- Dont take anything for granted.
Be it marketting or sales or accounts or production or customer support
or anything. Dont take anything lightly. The things you took lightly
would be only problem you cant remove in feature.
- Grow.
So you had a great deal today with a big company and u got the order.
Dont stop urself and dont live in the moment. Take more orders from same
company and other clients. Grow and merge as much you could.
- After Order.
If you took a big order and you want to take more big orders from
client and maintain the market image. Dont lose focus on operations
after the order has been placed. Deliver the products on time and
fulfill all the commitments.
- After sales. So everything
is done. Products have been delivered and payment is received. What to
do next ? Dont stop. Follow up the client and maintain good customer
relation. If you want more orders, dont forget to follow up.
- Work smartly and work hardly - Parallely.
Working smart is fast. Working hard is promising. Work in both ways
parallely. Dont skip any important process in any cycle of business.
- Be something different. Now something new.
I know innovation is the key to survival. But you dont have to play on
the Trend trick. If you think ur products will create a Trend, then that
trend will end someday. Make sure that you offer something better than
competitors.
- Dont fight in competition. Dont take
competition personally. You might end up with low profits and bad market
image soon. Have good or nuetral relation with competitors.
- Be badass.
If you want to be the boss, Then you need to be THE BOSS. Have that
attitude, confidence and never giving up passion. Management skills and.
Entrepreneurship in your heart.
Starting a business is not the big task. Maintaining the business is way more difficult.
How much would it cost to open a small business
Many small businesses cost absolutely nothing to start.
A
simple drop-shipping model with a focus on sales and marketing will net
you about $2,000 a month working from home. Optimize your sales funnel
with the right tools and processes, and voilà. You're set.
First,
find yourself some high margin products whose supplier is willing to
drop-ship them. The beauty of "drop-shipping" is that you do not have to
stock or touch any product. You don't pay the supplier until your
customer places an order and pays you!
When it
comes to pricing, the sweet spot is between $75 and $175 at an 8-10x
mark-up. Let's say a customer orders this beautiful, $100 picture frame
from you. You then send an invoice for the frame to your supplier. They
charge you $13, and ship the frame straight to your customer. Meanwhile,
you collect $100 for a profit of $87.
This
margin will be plenty for advertising these frames on Google/Facebook.
Let's assume it takes $17 worth of ads to make a sale and you have
little to no no other operating costs. That's a net operating profit of
$70/frame. Great! Your ad campaigns will run while you sleep.
The
question I am most often asked is, "How do I find great suppliers
offering me profitable margins?". This is what separates the great
drop-shipping sites from the rest: finding the right suppliers, getting
the right deals, and branding and pitching your products so they are
perceived as high-value.
Finding suppliers and
negotiating ideal contracts is a rigorous process. You should not delve
too deeply into it until you have already established your niche as
viable (ie. you get sales with reasonable marketing spend).
Instead,
consider drop-shipping and wholesale directories. These middlemen
already have relationships and contracts with suppliers in place. They
will make your life a million times easier.
This directory
has been my favorite for years, they have a lot of recognizable
products, both brand-name and generic. Their interface is also very easy
to navigate. If you don't already have an idea for what to sell, you
will find one there.
Of course, you will need
to build a website to showcase and sell your products. But you won't
need to write a single line of code. In fact, it only takes a few hours
to get an awesome site up and running with a content management system.
You can pick your color scheme, drag and drop the images you like, and
write your own content. Still, your site will appear more credible and
professional than 90% of e-commerce sites.
Shopify
is the most popular CMS out there for a reason. I’ve been using it for 2
years now and recommend it to everyone I can because it’s easy as hell
to use and it’s optimized for e-commerce purposes. You list your
products the way you want to and customers pay right there.
If
you alternatively want to drop ship products from AliExpress instead of
directories and/or simply want your store to work on auto-pilot, add
this free plugin
to your store. The plugin will allow you to automate practically
everything inside your store, from pricing to shipment tracking and
auto-fulfillment. But keep in mind that this will make you less money
than using directories.
Drop-shipping is
awesome because it’s incredibly inexpensive to start. Begin with a
specific niche and expand later. Test, track, and improve your marketing
efforts over time. As you refine your sales funnels, your profitability
will grow exponentially
I
would say from a previous blog post I created the main reason being
your business is not unique, you picked a highly competitive market and
you are not niche enough.
That would be my number one con!
1.
LOW SALES – The most obvious signs would be low sales. We’re not
talking about a quiet quarter through the summer holidays here (which
can be expected ) but rather an all round annual slump. Without sales,
it will become impossible to invest in future ideas and more
importantly, to pay your employees.
To
try to rectify it, it’s vital you research the issue as soon as
possible. Do not underestimate the knowledge of your own customer
service team. I don’t think I have EVER worked with an employee that was
transparent enough to walk over to the customer services team and
simply ask, what do you think? What are the customers saying? when we
have signs of a drop in figures. In general, a company will hide this
uncertainty from their employees thus to avoid any discomfort and try to
continue along seamlessly….. while the sales continue to drop. ASK your
staff!
NO
ONE TALKS ABOUT YOU – If no one is mentioning you on social media, then
it simply goes to show you are not interacting with a huge amount of
customer potential.
We
can only avoid social media for so long before we realise it’s an
integral part of our business. Facebook alone can provide small
businesses with up to 50% of it’s customers when used correctly, so it
would be foolish to underestimate the dramatic benefits a digital
marketer can bring to your business. Designated PA brought in digital
marketing support 6 months ago and now we have more than doubled our UK
target audience.
YOUR
BUSINESS IS NOT UNIQUE – Every business will have their competitors,
but when it comes to releasing a product that has already been in the
market for over 10 years, with recognised global brands, then it’s a
completely different ball game.
Hopefully
you would have conducted market research before launching to see if
this is an already saturated market. If not, try to jot down all the
things that make your business unique. This could even be something as
simple as we are a green company as we use recycled produce. Use this as
your marketing strength.
CONS
Hard
to get going, hard to get investors, no proof of concept, risk of
failure, existing businesses like this, lots of hours to run it (expect
40–60 hrs/week) etc.
PROS
Flexible, much potential, work your own hours, and simply determine the direction of the business.
First
of all I took it as if you were talking about starting your own
business and that you want to get some information before you continue
with your plan. Second of all my answer was fairly limited although it
did cover some of the big topics in owning one’s own small business;
there are many more pros and cons you can find online so I would urge
you to continue your research. Know that if you are going to start a
business that it will be difficult and that you do risk losing a lot, do
extensive research before you start and I hope I was helpful.
What is a good business to start for 2017?
AI Startups
As
you might remember, some intriguing headings like “2016 was the year AI
came of age”, “AI was everywhere in 2016”, and “The Great A.I.
Awakening” were all over the place in media last year.
Fair
enough. In 2016, technology’s progress was sufficient to let even
smaller companies take part in the AI development. Several universities
started to educate students about AI’s possibilities. According to Ludo
Ulrich, head of startup relations at cloud CRM provider Salesforce,
this development is “creating a larger talent pool” of AI professionals, resulting in a much quicker innovation’s pace in 2017.
Here’s what he says on the matter: “Now
that the true importance and impact of AI has been discovered and has
become more accessible than ever before, 2017 will be the year where the
knowledge that used to be possessed by a select few will now become
imbued throughout the tech landscape — allowing for younger startups to
truly innovate in the space”.
For many
years, artificial intelligence has been regarded as an unreachable
science fiction fantasy. And now it is our reality – machines analyzing
behavior patterns and making predictions based on those patterns.
So what is the good news for you then?
AI
will continue to gain solid ground in 2017 and startups will have more
opportunities to make a contribution to further AI’s development. The
current accessibility of AI will allow new players to diversify the
startup arena with their brand new ideas.
As everybody knows, a chatbot is a computer program which simulates a conversation with real humans through a chat interface.
This technology went totally mainstream last year, but there’s even much more to gain in 2017. “Thanks
to AI, we’ve seen chatbots take center stage in 2016, and as we break
into 2017, we expect this trend to spur even more innovation,
specifically in the enterprise,” predicts Ashu Garg, general partner at Foundation Capital, a Silicon Valley venture capital firm.
For
instance, Taco Bell’s TacoBot helps clients to make orders on Slack
chat. Sephora lets their customers order on the messaging app Kik, and
Ticketmaster has recently presented a new website chat widget – in other
words, the examples are numerous.
Gartner forecasts that more than 85%
of interactions with customers will not include a human being by 2020,
and chatbots will be the AI’s weapon of choice during the next five
years when it comes to customer service, according to research from TechEmergence.
This
way, more and more businesses are thinking of providing their customers
with a personalized chat experience. This results in a chance for your
startup. And you better be quick as in 2016, over 50 startups were
building chatbots for the enterprise, according to Betaworks. We expect
this number to grow in 2017.
Cybersecurity Startups
Cybersecurity was a frequent newsmaker in 2016 – just remember Apple’s iOS encryption dispute with the FBI or attack
on NASA’s website. This year has been marked by major data breaches,
bank heists, account hijacking, hacktivism, DDoS attacks – you name it.
This panic has been caused by cyber-criminals as they are more
tech-savvy and organized these days.
Results?
Well, it’s evident! The percentage of Americans who said they were
extremely or very concerned about cyber threats increased to 55% compared to 45% in 2015.
Thus, many professionals in this field expect some continued growth in the cybersecurity space in 2017.
“Companies
looking to beef up their security defenses invested in software and
other appliances. We anticipate businesses will start investing less in
endpoint solutions and more in managed services that help them make
sense of their existing infrastructure.” says Nate Locke, partner at investment management firm Kayne Anderson Capital Advisors
AR and VR startups
For
lots of us, 2016 was the year of Pokémon Go’s craze. No wonder that
augmented reality (AR) is on many people’s radar in 2017. Virtual
reality (VR) is also something not to be neglected in 2017 and beyond.
All this year through, 30%
of customer-oriented Global 2000 companies are expected to experiment
with AR and VR in their marketing initiatives, IDC – the market
intelligence company
Here’s what they say: “Interfaces are the essential gateway to customer engagement and they are evolving much faster than many have anticipated.”
IDC
expects AR/VR to reach global adoption by 2021 when more than a billion
people will access apps, content, and data through an AR/VR platform.
But VR won’t simply be a technology for entertainment. Today, VR is used
in healthcare, entertainment, automotive, space industries among
others. Next year, we can expect a much wider application of VR and it’s
not just about gaming or entertainment.
What business should I start in 2017?
For both sellers and buyers, intense housing market disintegration is now producing different experiences
in a broad range of locations and divisions. All over the country, home
prices are anticipated to keep going up, even though at a snail’s pace,
say 3.5% in 2017, vs. 4.5% in 2016, but even more so than in current
years, and your situation is now going to hinge on what and where you
are buying or selling. This piece of article will explain certain
decisive factors of 2017 real estate.
Flexibility factor
Are
you a first-timer looking for a starter home with the hope of cashing
out and scaling down? Then being flexible is said to help and it will
provide you with more choices. Moreover, you can face the real estate
market with ease, irrespective of some taxing factors like low supply,
uptight market, fluctuations and fierce competition.
Seeing the fact
that, not all are ready to take up the major overhaul, buyers who are
willing to be flexible are finding better deals says a popular real
estate database company.
Growing families should consider making a move
In
case, if you are planning to move to a larger home, then you are in the
housing market’s sweet spot where a combination of factors is going to
result in a maximum response for the amount of effort you put in. A good
time to strike is the first part of 2017.
Fix yourself to a lower loan rate and don’t procrastinate
Procrastination
is the biggest enemy. If you are planning to buy an investment property
and thinking when to buy, then you would sit all-time thinking of it.
To your surprise, now is the good time to pull the trigger because this
year has reached a record-low mortgage
rate which is not expected to last long. And if truth be told, average
rates could rise as much as half a percent in the next year that would
mean a greater increase in percentage. Now that if you are going to fix
yourself to a lower loan rate then 2017 is going to b0e a golden year
for you.
This is how you should position
yourself when it comes to real estate 2017 and talking about the
fluctuations, you will have to take heed and analyze the market
conditions and buying preferences coupled with the neighborhood value.
As a well-informed buyer or as a well-positioned seller, you need to
make wise decisions that will produce fruitful results.
Zack
Childress is a real estate entrepreneur who helps real estate
enthusiasts by teaching real estate principles, markets, and finance.
His boot camps and seminars are a blessing to people who wanted to make
it big in the field of real estate. Sign up for Zack childress real estate reviews to stay up to date on real estate concepts and make secure investments with the guidance of this connoisseur who will guide you every step of the way
What's the best business to start in 2017 if you have 100-200k to get started?
When comes to starting a business, focus on problems you can help others to solve.
Instead of focusing on how much (money) you need to start a business, focus on
coming up with good business ideas.
Observe what product people want that isn’t available on the market yet OR what services people need that you can provide.
When
you get this right, you can start a business with no money. On the
other hand, more money doesn’t help if no one wants your product or
services.
Think about your own problems is a
good place to start. Ask yourself: What are all the problems you have
where you can't find a solution?
Even if the
product exists somewhere, that’s OK. If you haven’t heard of it, it
means there's room in the market — or you can beat any competitors
doing better marketing down the line.
These business ideas are what I call “shower thoughts.” Write down any idea that comes to mind, even the dumb ones.
Seriously,
go off-the-wall crazy. After all, Facebook began as a website with
names and faces. Dumb ideas are not necessarily bad.
You’re not trying to come up with the most brilliant idea worth billions right now.
Instead, look for a problem you're facing yourself, create a solution. Make things easy for yourself and get started NOW.
1 - Consulting/Service Business
I am sure you are good at something. Right? Think about things like…
- Writing
- Marketing
- Designing
- Development
- Business
Can
you find people who need help with any of those? If you are not sure go
check out websites like Upwork and Fiverr. Lot’s of people need help
and are actively looking on those sites.
So how do you get clients?
- Make a killer profile (on Upwork or Fiverr) and start sending proposals/bids
- Attend local events in your city. Exchange business cards and follow up consistently (This is how I started building my social media agency)
Investment = $0
2 - Teach online
Online education is booming ($300+ billion industry) and online teachers are making good money.
How do I know? I do teach online on platforms like Udemy and SkillShare. :)
So here is how you start an online education business.
- First, take some classes on Udemy and SkillShare (related to your niche)
- Identify a couple of things you are good at
- Create a class and launch it
- Once
you get comfortable with teaching online, I would suggest building your
own platform i.e. sell your classes on your website. You can
potentially make more money by selling on your own website.
Investment = $0
Actually I would suggest getting a good microphone so your investment will be ~$50
3 - Flip stuff on eBay and Amazon
This is another simple and easy business. Here are the steps
- Find garage sales in your city (Use Craigslist)
- Buy cheap stuff for $99 or less :)
- Flip it and sell it on eBay and/or Amazon
And before buying something, you can even check its average selling price.
Investment = $99
4 - Blogging
Being
a blogger will not generate money quickly but you can start with less
than $100. All you need is a domain and a hosting account.
But
in order to make money, you have to become an expert in your niche.
Don’t forget to build an email list from day1. If you have a decent size
email list, affiliate marketing can create some opportunities for you.
Let
me stop here! There are so many other ideas you can start with less
than $100 but the question is are you willing to execute?
Go with eCommerce. It’s the thing to do with low budget.
I
taught 100s of people to start and I consistently get people to make
their first sale within 24 hours (that’s after them going through a few
days of training though, lol, but once they start - it’s quick). The
longest case I had so far was 3 weeks and 4 days. Let’s chat on Facebook, I’ll help you out personally.
I’ll give you a few guidelines that will help you understand the process.
RULE NUMBER 1:
If
it’s your first business, you want as few moving parts and variables as
possible in the business. That means you won’t make a million tomorrow,
because the big money is in the complex variables. But you will make
your first sale within weeks or even days. And probably your first $1000
too.
BIG MISTAKE
I
see most people starting with Shopify. Then perhaps they try to go to
AliExpress (which is a place where you can buy cheap products from China
often direclty from manufacturers) and list items on their Shopify
store (which is perhaps the most popular platform to use to build your
online store, think of it as Windows OS for PC or Android for Samsung).
Then, they do FB ads.
Well guess what. To make that work you will need to understand:
- Driving
cold traffic (people that don’t know you = don’t trust you yet). It’s
very different from just listing a product on Ebay for example - people
trust Ebay. They don’t trust you.
- Tactics to use with FB ads -
the FB pixel (very important), demographics, interest targeting, good
visual (and you would need to know whether it is best to use an image or
a video - depends on the product and the circumstances). Every thing
below can be divided into many other little things you need to
understand just like I did here with FB ads, so the rest, I will just
list:
- Re-targeting
- Follow up and nurturing the leads
- Merchant accounts
- Shipping and dealing with Chinese (importing from abroad can result in additional taxes - you need to understand that as well)
- You need to pick the right products in the first place.
- Build a Shopify store. A good functioning store I might add. Buying a Shopify account is not enough, you need to build it too.
- Beating
competition that is making TENS OF MILLIONS PER MONTH. One of my
friends did $164,000,000 last year mostly from FB ads on his Shopify
store. Can you beat him? You see, this kind of platform can make a lot
of money and that is exactly the problem - it attracts very bright
minds. I personally would never get into any business now that would not
make at least a million dollars a month NET income. Meaning everything
that does not have that potential - you will not be competing against a
guy on my level, which is good for you.
As
you can see, that is quite a few variables. I didn’t even mention
simple stuff like incorporating. Obviously, following this model would
be like putting a 7 year old straight into 8 grade instead of sending
him to grade #1. Can you see the difference?
I
teach something much simpler and that’s why my clients are so successful
so fast (you can check out my FB account, I just posted Matthew’s
results after 3 weeks).
With what I teach you only need to understand this:
- How to title your products.
You do NOT need to understand any of the following below:
- Cold traffic
- FB ads
- Re-targeting
- Follow up
- No need to understand foreign culture to buy products from
- You don’t need to ponder whether your product will sell or not - everything sells
- And you don’t need a Shopify store. Abracadabra.
- You
will not need to compete against super bright minds. However, you
probably won’t make tens of millions from it. But you can make $30,000 a
month. To me that’s not interesting, so I won’t compete with you, it’s
just not worth my time. But to you it could be life changing.
- Go to Amazon. Grab pretty much any product you want
- Put it on Ebay with 10% markup.
- Now
do it 100 times. A day after that you will most likely get your first
sale, unless you messed up your titles, which is the tricky part. That
would take too long to teach in this post, but you can message me on FB,
I’ll help :)
$100 can
not make you overnight millioner unless you win the lottery for buying a
lottery ticket for 3 dollars at the gas station, just saying, do not
do it anyway even if there is a tiny chance.
Example 1 provides more opportunities and may lead you to a great wealth and succes.
First of all forget about the money ($100) for a minute and think what you can do without it.
Start
with assets, what do you have, what are your skills, e.g. you are good
at writing or painting, singing or sports etc. Figure out what you do
best of all and proceed from there, if you start doing something in what
you are proficient in, most likely you will succeed in it quickly. Keep
the money for possible expenses. If you are good at chess, start
teaching kids the basics of playing or bring the board to the park and
play a game for 1 buck with someone there. (A real example); in this
case you might need to spend cash for buying chess.
You got the idea, chess is just an example of many possible. Ask yourself what am I good at ?
Example 2 is a fast way to double your cash.
Find
the events in your city which generate a lot of passing traffic like
sport games, concerts, festivals etc, then buy a pack of water $3-5 and
sell a bottle for $1 dollar or even 50 cents. That will triple your
profit even if you sell just a few bottles. The only disadvantage is it
is seasonal.
Example 3 just came up in the mind.
Stand in
a line for 2 hours to get a ticket for any sports game which sells out
and resell it for twice more before the game. Baseball, hockey, football
are the best practices. Just watch the local "ticket mafia", it's been a
very good business for a long time already.
There are plenty of ideas to make money even without any investment just think about it and keep trying.
What are the craziest startup ideas you have seen people execute successfully?
