If you don’t want to read it, you can watch this video.
You want to start a business, but you have no experience, no money and no connections. How can you do that? That’s what we’re talking about today.
You have to understand that it’s okay to be you. I’m not saying that in a condescending way. I’m saying that in the grand scheme of things, you can’t innately know the right thing to do. It’s normal and okay to struggle.
I didn’t start the journey until I was 32. People will tell you that in order to start a business, you must get business cards. You must incorporate. You must have office space. There are all of these things you must have first before you make money. That’s not true.
I want you to listen to me. Right now, I am in my underwear making a video. No shit. I work from home. I started a YouTube business and publishing business that allows me to do this. So, when I say it is possible, this is something I have done. This is something I see other people doing.
The reality is that you can right now with no experience, start a business. If you work your ass off and you do all the stuff you’ve been told to do, within 12 to 24 months, you could possibly have a business. There are no guarantees. If you don’t have an IQ of 75 and you work really hard, there is a 90% chance you will have a business that will support you within 12 to 24 months.
This is the new economy. You don’t have to do the things that your father and you grandfather did. You can start a business after listening to this video or reading this blog. Get up and get started. Do something and at the end of the day, you can have the framework of a business. If you are really on your hustle, you could have earned money from your business.
Now, are you incorporated? No. I don’t recommend that you get incorporated until you validate your business idea unless you have to because there is a certain element of liability or some other requirement based on the type of business you start. If you’re going to be online doing stuff, don’t incorporate until you validate your business idea.
Now, what’s validating? It’s finding out if your concept is something strangers will buy. If you do that 10 times in a week or 20 times a month, you validate your business concept. It has to be something strangers will pay you money for. Then it becomes a process of refining that. This is how you should start a business with no experience.
Rule #1 is get started.
Rule #2 is forget about the people in your life who have never started a business and who can’t offer you valid, time-tested business advice. They can offer you an opinion which may be rooted in love, but they can’t offer you valid business advice.
When I started my first business that was doing well, I got some bullshit from my mother. I completely ignored it. She filed bankruptcy three times. She doesn’t know shit about money. She never had a business.
People often confuse age with wisdom. There are a lot of 60, 70 and 80-year-old fucking fools out here. We don’t do it like that anymore.
Rule #3 is you have to become a metric monster. You have got to dig in the data. If you don’t know how to do that, you can learn. You can build.
This is crazy, but many people do not want you to win. They may say they want you to win. They may be acting like they’re in your corner, but they aren’t. They will become your Brutus, because your winning means they did not even participate in the game. When they see you shining, they will call it a random act of luck or good fortune. They may say you are fucking somebody to get it. When this happens, you can remember this video and know to expect it and to be ready.
Rule #4 is you have to be grateful. I know you didn’t expect that. You have to be grateful for little shit. When you start taking things for granted, you start to lose your edge. You don’t focus. You don’t see the little things that can make you money. When that happens, you may also miss the big things that can make you money.
The world is big. There is so much money out here, it’s stupid. Practice gratitude. Practice appreciation. When you practice these two things, more money will start hopping in your wallet.
Let’s get down to the technical parts. At what point do you incorporate? The answer is you incorporate when you have earned enough from your new business to pay for it.
You’re going to have to do some research to determine what type of structure you’ll need. Everyone has a different tax structure and each business is different. There is no “one size fits all” answer to this question. There are so many variables.
Another way you can start a business with no experience is to work for free to prove yourself and get experience. You must increase your value to other human beings.
Rule #5 is realizing you are an owner. Many people own businesses and act like employees and wonder why they aren’t respected by their employees. You are the man or woman responsible. When you accept that responsibility, you will make more money.
There is so much opportunity out there. The right time is now. You are bullshitting yourself if you say you are waiting for the right time. You are putting yourself in a position to lose, because you are afraid.
Every time I put shit out, I get a little fear. Is this shit going to work? I hit the release button and shit happens. I have a lot of losers. I have products and people don’t like the name. They don’t like the template. They don’t like the thumbnail. I send out an email and nobody buys. It happens. I fail more than I win.
Rule #6 is if you fail a lot, you’re going to have to create massive action. I figure my failure rate is 75%. So, 25% of the time I win. So, if I do ten action points, I’m going to win 2.5 times. So, what do I do with that information, I create 40 action points. I still have that 25% success rate. Because I have increased my action radically, I’ve increased my success. I just gave you the magic jellybeans and the keys to the castle.
You can build your life. You can build your thing. It’s a matter of courage. It’s not a matter of intellect. It’s not a matter of access. It’s not a matter of luck. It’s a matter of courage.
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