Before you begin ANY money related venture, get this in your head . . . Money is JUST for bills. It doesn’t define your self worth, it doesn’t do anything else then PAY BILLS. If you don’t understand this, you will have a very hard time acquiring wealth.
Plus if you do succeed at it, you still won’t be happy. In fact, you might be more unhappy because you started this journey from the wrong place.
If you are getting into starting a business because your dad will finally respect you, or you can get more women, or society will respect you, or you can finally get revenge on someone, then please stop.
Stop and re-evaluate yourself. You are most likely suffering from low self esteem. Money will not raise your self esteem. Imagine you make money and then you lose it. Does that mean your self esteem is gone with it? That will make you a slave to money and you will never be free. Especially from the inside. Which really matters.
So consider this as a disclaimer. Money is JUST for your bills. That’s all. It’s a thing that serves you, not the other way around.
Now let’s get into how to start a business.
See if you can find any gaps in the market. Maybe you can make something faster or better? If you can just figure that out, you’ll be solving a real problem and then making money eventually.
Another thing people forget is building a business takes time. You have to find an issue (Time), you need to create something that solves that issue (Takes more time), then you have to find people to test it out on (Even more time) . . . So ask yourself? Is starting a business right for me or do I just want to get rich? Also if you are in debt, better to pay that off first. Just a suggestion.
If your answer is the latter, you’ll be way better off working the 9-5, and then simply going after your passion after work.
Don’t try to start a business and then go after your passion or you’ll end up more miserable then the grinch on Christmas.
Business is not for everyone and that is just fine. Live your life, pay your bills, be happy. If you just want to get rich, keep saving and investing. Eventually you will get rich. Investing is a proven way of getting rich and you don’t need to start a business for it, you just need to save up.
Anyways, since the topic here is business, let’s keep going.
What You Need to Know Before Starting Your Own Company
#1. Know Your Business Plan
The first step to take is to create a detailed, well thought out business plan. This document will outline the company’s vision and identify its objectives. It will include information about management, finances, competition and marketing strategy. The business plan should give a clear picture of the specifics of the company’s operation and help potential investors decide if they want to invest in it or not.
#2. Bring in a Team
If you’ve done your homework on what it takes to start a company then you’ll know that one person can’t do it all on their own; every startup needs employees with different skill sets who are each contributing something different towards.
PLEASE NOTE: You can always do things on your own but with a team it’s just better and faster.
What Type of Company Should I Start?
Everyone has a great idea for a startup. But, not everyone knows what they have to do to turn their idea into reality. This blog post will help you by discussing what you need to know before you start your own company.
The first thing that you need to consider is whether or not there’s an opportunity for this business in the market, and if there is, how much competition there is for it. If it’s too competitive, then there might be no point in starting your own business because the chance of success would be low.
You should also take into consideration whether or not this industry is growing or shrinking; if it’s growing, then now might be the perfect time to start your company because the demand will always be present; but if this industry is shrinking,