Building a Business that Supports You in a Year or Less

Building a Business that Supports You in a Year or Less

If you don’t want to read it, you can watch this video.

A big part of the process of creating a business that supports you in less than a year is a commitment. One of the things you must realize about starting a business is there are many parts you are not going to like. That’s just reality.

No one likes paying taxes. No one likes filing reports. No one likes keeping up with all of the receipts and then writing those big ass checks. No one likes that.

When we had the store, I didn’t like dealing with customers. I didn’t like sitting in the store for hours and hours waiting for someone to come and then having to have this energy and enthusiasm when they finally came in. I didn’t like that.

I had to get over it so I could build that business. Like I said, in the first step you have to make a commitment. A lot of people won’t fully commit unless they get some proof. With the way the business climate is today, the best time to jump in to a business is before it is a fully tested and proven business model and everyone else is jumping in to compete.

The second step is to have written goals. When you have these written goals, it is amazing how often you reach them. Typically, the time lines tend to be a little dicey. Let’s say you sit down and write a goal to make a million dollars in a year and you don’t make it for four years. Is your life better? Yes.

The third step is what I call “disciplined busy.” Disciplined busy is when you consider that it is Friday and the football games are coming on and the holiday is next week, but that means nothing. You’ll be working on your business. That’s just the reality.

You need an organizer or a task planner. You can go online and get one of these apps and every day, you have these tasks that you do. You need this every day. Consistency will get you so much farther than talent.

The fourth step is put yourself on a budget. When you have excess cash, it is very easy to get caught up in doing stuff and hanging out. I’m not saying not to go out. If somebody has a birthday party, go. If there is a funeral or wedding in the family, go. What I am saying is that outside of those large and rare events, you’re not going out. One of the ways to keep yourself from going out, is to put yourself on this bare bones’ budget.

You’ve got to get rid of distractions. If you’re trying to build while you live your creature comfort life, you are probably going to fail. Your business has to be your top priority.

The next step is you must pick the right business for you, based on your goals and desires. There are three things you must have in place to succeed in a business. You have to have something to sell, people to sell it too, and a way to let them know it is for sale. If you concentrate on those three things, you will succeed like a ninja.

Back to number five – you’ve got to pick a business that works well for you. I have many people picking businesses where they don’t have the skill set or the network and they’re failing right and left. The best business for you might be some shit you hate.

I know that conflicts with the idea of following your passion. I’m just going to tell you something. All of that shit I did with YouTube, at first, I hated that shit. I loved the money. At least four times I was ready to quit. There was a lot of shit going on. There were trolls. I sat down and said to myself, mind your money and fuck the trolls, right?

Just because you don’t like something now does not mean that’s going to be the case later. Read about Steve Jobs and Apple. He didn’t like that shit at first.

One of the things you need to do is study your numbers like a ninja. I used to study mine all the time. The stories I told made me more money than the “How To” videos. So, I started doing more stories. I started positioning the stories. That’s how I made most of my money. You have to study your metrics to find out what works.

Let’s talk about food trucks. I’ve never been in the restaurant business, but I’ve noticed the successful ones have a consistent menu year after year. Longhorn and Waffle House are good examples. They found out what works and they keep delivering it. So, if you have a food truck, you have to figure out what will work and sell nothing else.

I go this to one place to get chili dogs. All they sell is chili dogs, burger and fries. They are always packed. You have to figure out some things and keep it simple.

You’ve got to have a plan to scale. You’ve got to scale back your lifestyle. You’ve got to have a business account from day one. You can’t commingle funds.

Banks are getting very particular about setting up business accounts. I think this trend is going to become even more pronounced in the coming years. People are going to see that Donald Trump didn’t pay any taxes by creating a business. Then, they are going to want to do that to.

I remember setting up my first business years ago. It was at a company called Wachovia. I showed the guy my LLC papers. I was in and out in twenty minutes. The recent accounts I set up, I was at the bank two hours.

If you aren’t sure what to do, you need to try some shit. You need to see what you like to do. You have to test the waters.

There’s a lot of groundwork that goes into creating a business model. Research is a huge part of it. Going back to 2009, I knew many people who wanted to be in the storage auction business did not know what they were doing. I also knew it took three months to one year to learn the ropes. I knew if these people had a blueprint, they could make money much faster. I knew there was need before I wrote my book.

A lot of you who are looking for an idea may have some esoteric knowledge that other people want. You may have to struggle to put it together, but it may be worth it. It depends.

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