This is a list of different lessons and key points that I found/learned from different sources to help me stay on, what I think is the right way to do business, projects or ideas.
These also encapsulate a particular mindset and some general life advice that I would like to achieve.
What is a Business #
A business is just money IN
Making sure the idea of the business works before spending money on it is crucial.
Avoid cost as much as possible.
Start for FREE & ASAP #
Start NOW and start for free
Trying and getting actual proof that your idea works is the most important aspect before any expenditure or investment.
Generating ideas #
To generate ideas: write down what you have, mentally and physically. Then, find ways to use those things to make money.
You can also try to create solutions to things that irritate you in your everyday life.
Always go back to money in first. No cost.
Copy what works #
Do not over complicate things and do not try to reinvent the wheel. Some boring ideas have been working and proven to make loads of money for decades, so copy them and make a profit.
Keep it simple.
Legal aspects can be fixed LATER #
Legality takes time, effort and money.
With the money you generate from the business, you can find people that can fix legal aspects of your company.
Momentum #
Do things fast, without compromising quality.
When doing things quickly, you gain more time to do more things.
The more you use and improve your skill, the quicker you become at that particular skill. You will also be able to discern what tasks are repetitive and therefore, can be automated.
Get in Shape #
To get in shape, you need discipline and hard work. People subconsciously know that, and will trust and follow you more if you show them concrete results of your hardships.
This will also give YOU more confidence and charisma. If you want to lead people, you NEED those two.
Staff #
A staff member can either make you money or free up your time.
If any of your staff neither make money or doesn’t free up your time, then you don’t need that member.
Most employees on big companies don’t do much on their job. That means the employee costs more than he makes, and that’s why we see layoffs.
Keep in mind that every human being has strengths and weaknesses, so play on your staff’s strengths.
Work with friends and family #
This goes along with the last point about \“Staff\” and people’s strengths and weaknesses.
Young people have better technology skills, and they have less to lose than grown adults.
You can set them up for success if you give them the confidence to pursue something they already do for free.
Hire young people, give them tasks, get results from those tasks, and split the benefits.
If you are smart about it, you can ignite a passion and make them grow their skills in a professional environment.
Sell to people that already bought from you #
It’s way easier to sell to people who already bought a product or service from you than to find new customers.
If you sell something to someone, and you did a half decent job at delivering and fulfilling their order, then you already gained their trust and they already know that you can deliver.
HOW not WHAT #
You buy things because you THINK you need them. You need food to survive, so you buy food.
So don’t sell the products (the WHAT) but sell HOW the product solves a need or a want.
Problem, Solution #
This ties in with the previous point.
Don’t sell the product, sell how the product solves a problem.
When selling, make the problem as obvious as possible, then point to the direct and immediate solution which is your product.
Improve, Always #
Sharpen your tools
Always try to improve and be better at what you do. Either become extremely good at what you do or try other methods to improve the existing ones, both is better.
Pay attention to yourself, if you become lazy thinking you already know a specific method or topic and don’t try to improve or see what is being done on the other side, then you are going to sink.