HOW TO START A BUSINESS WITH LOW INVESTMENT. 8 KEY POINTS

HOW TO START A BUSINESS WITH LOW INVESTMENT. 8 KEY POINTS

Friends, Business/ Startup/ Entrepreneurship is the trending words nowadays.

WHY is it so? because

The old choice of job was safe & taking the big risk of going out on your own was risky.

The new reality is that working at a job may be a far riskier choice.

Instead, take the safe road & go out on your own.

Imagine a life where all your time is spent on the things that you want to do. Imagine giving your greatest attention to the project you create yourself

instead of working as a wheel in a machine that exists to make other people rich.

Now,

Let’s jump directly into the 8 key points to build a business with low investment which I’ve gathered for you. Stay focused.

1 } To start a business, you don’t need a lot of money to borrow, hire employees etc. Instead,

You can start now based on your specific personal combination of passion & skill. (but not everything you are passionate about can be marketable. eg- You can be very passionate about eating pizzas, but no one is going to pay you to do it.)

In the convergence where passion/skills meet usefulness, a micro business can be built.

                                                      Passion/skill + Usefulness = Success

2 } You require only 3 things to start a business. They are:

  • Product or service- What you sell
  • Group of people willing to pay- Your customers
  • A way to get paid- How will you exchange your product or service for money.

Please Note. If you have

Product/ ServiceCustomersWay to get paid 
YESNONONO BUSINESS
NOYESNONO BUSINESS
YESYESNONO BUSINESS

 

3 } You must have heard of,

Catch a man a fish & you feed him for a day. Teach a man to fish & you feed him for a lifetime.

But, here in the business. It is like

Teach a man to fish & you will ruin a wonderful business opportunity. So, Give them the fish ( or what they want )

– Carl Marx

4 } When thinking about different business ideas, also think about the Money.

Money isn’t the soul consideration but it’s an important one.

Ask yourself three questions for any idea:

  • How would I get paid for this idea?
  • How much would  get paid from this idea
  • Is there a way I could get paid more than once.

5 } Rather than talking about the features, talk about the benefits customers will receive from your product.

As For Example :

FEATUREBENEFITS
DescriptiveEmotional
eg) In a restaurant, features are
Listing of
Food-
Drinks-
Benefits are
Relax & Let us take care of you at the end of your busy week.

 

6 } What people want?

People want more of money, love, acceptance & free time &

Less of stress, long distance between commutes, bad relationships.

If your product/ service focuses on giving more of what they want & taking away what they don’t want, You are on the right track.

So, focus on eliminating the pain.

7 } Give them the offer they can’t refuse.

Let us take an example here,

Imagine if you are running a marathon & after 10 km’s, you are almost dead & tired & if you find some people selling orange slices & other the donuts.

Which one will you prefer? Obviously, Orange slices.

so,

Product/ Service + Right Audience + Right promise + Right time = Offer they can’t refuse

8 } Two common mistake many aspiring Entrepreneurs make:

  • Thinking too much about from where to get money to start their project.
  • Thinking too little from where the business income will come from.

Simple Solution,

Spend as little money as you can & Make as much money as you can.

P.S.-

Don’t feel reluctant to spend money on:

  • Building a brand
  • Boosting your sales

In short, I would like to say Provide value to the people’s life through whatever you create.

If you want the audio-visual format of this post. Relax and watch this beautiful video created for you with love.

 

 

Lastly,

It’s time to give credit to the amazing Book, from where I have taken these learnings. It’s one of the best books for Young Entrepreneurs today called 100 $ STARTUP written by Chris Guillebeau. It contains many short stories of people who started their business with very very low investment without even an intent of starting a business.

It contains many short stories of people who started their business with very very low investment without even an intent of starting a business and now they are having their proper profitable business.

I highly recommend this book. You can buy this book by clicking here 

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WHY YOU AREN’T ABLE TO START WHICH YOU WANT TO DO.

WHY YOU AREN’T ABLE TO START WHICH YOU WANT TO DO.

I know there are a lot of plans & ideas in your mind and it’s just not coming out. (same was the case with me)

Yes, You are right. Starting is always the hardest part.

But it’s also true that 

Today I’m going to share two things with you Why it took me so much time to start & what goes exactly in your mind & How to start anything you want. 

[PS- It’s not Fear of failure or Fear of people judging you or any reasons which I discussed in my 25 Causes of failure post.]

Let’s Begin with The First thing.

Whenever you experience someone’s creative work like Music, Books or Youtube videos, You find it brilliant, beautiful, breathtaking & perfect & you’re stunned by their creation.

You think that I never would’ve thought about that. How did they come up with such idea? They are a genius.

And then you look up to your idea & think that your idea is too obvious & you aren’t that innovative.

But let me tell you Guys, study shows that people who succeed with their idea were just doing their work in their own possible way.

In fact, many famous musicians & artist says that their most hit songs were those which they thought were worth no recording.

Let me tell you what happened with me,

I was too shy to share my content with you people online, Although I had knowledge but used to consider my ideas too obvious.

But I kept on doing my work, sharing my own obvious things with you & one day I received an Email saying-

It’s beautiful what you create & really amazing. It helped me a lot. Don’t stop. 

So, the problem is

Everybody’s idea seems obvious to them but amazing to others.

We’re just a bad judge of our own creations. You should just put it out and let the world decide.

Now,

The second thing,

Let’s say You want to do something big, but you think you cannot do it until you raise money.

It’s usually when somebody wants to be big-big-big instead of doing something really useful.

So, mentor’s advice is to start with only 1% of your grand vision. No doubt it will be small, but you will be in the game.

You will be ahead of the rest because you started while others were just waiting.

For eg} 

If your dream is to provide practical knowledge to students which are not taught in the schools. rather than picturizing and waiting for dozens of schools, hundreds of employees & offices, you can start by teaching somebody something this weekend.

rather than picturizing and waiting for dozens of schools, hundreds of employees & offices, you can start by teaching somebody something this weekend.

Find someone who will pay you to do that. You’ll only need You, Notebook & the person & You’re in the Business & you can grow from there.

Starting small help you-

  • put 100% of your energy to actually solve real problems to people.
  • by giving stronger foundation to grow.
  • to change your services according to customer’s need very easily.

So, Your ideas don’t need funding to start, You also don’t need an MBA, endorsement or any other common excuse not to start.

This was my illustration of few chapters from the book Anything You Want by Derek Sivers. You can get the book by clicking on this.

You can get the book by clicking on this.

If you need an audio-visual format of this article to understand in a more better way, I have it for you. Watch below:

 

 

So, Are you holding something that seems too obvious for you to share?

Let Today be the start of something new.

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Thank you.

HOW TO BUILD A BUSINESS LIKE THE BILL GATES? 10 SECRET TIPS.

HOW TO BUILD A BUSINESS LIKE THE BILL GATES? 10 SECRET TIPS.

At the age of 43, Bill Gates was the richest man in the world.

He has headed Microsoft since he was 20.

Gates is a 20th-century phenomenon, the greatest of cyber tycoons. He is a genius in Mathematics & used to be called ‘Computer Guru’ by his juniors.

In 1975, while still at the Harvard University, he teamed up with Paul Allen to develop a version of BASIC (an early computer language). In 1977, he dropped out of Harvard to work full time at a small company he had founded with his friend & the company was called Microsoft. 

Friends, Today I am sharing 10 secret tips of the success of Bill Gates from the book Business- The Bill Gates way’  by Des Dearlov for You, So that you can apply these to your Business and take it to next level.

You can get this book by clicking here.

[NOTE: It can be applied to any Business you are doing.]

This is not simply a story of technical brilliance & enormous wealth. It is one of the remarkable business vision & an obsessive desire to win.

It’s about a radically different leadership style to anything, the business world has seen before.

10 SECRET TIPS:

1} Be in the right place at right time

Gates is one of the few business leaders who really understand the technology. This enables him to make strategic decisions based on his own vision of where the technology is heading.

Microsoft was very lucky in 1980 when IBM, then the market leader in the computer industry, signed a contract with Bill Gates to develop the Operating system for its PC.

Gates grabbed this opportunity with both of his hands & proved his luck by working tirelessly for six months.

2} Fall in love with the technology

Gates made his first deal in the computer business at the age of 13, when he agreed to look for software bugs in return for free computer time.

One of the most important aspects of Microsoft’s continued success has been Gates technological knowledge. He has seen the future direction of technology more clearly than his rivals.

3} Take no prisoners

Gates is a fierce competitor. In everything he does, he is driven to win. In making deals, he is an extremely tough negotiator & known for crushing his competitors.

4} Hire very smart people

From the very start, Microsoft has always recruited the very Brightest people or High IQ people.

Many a time, people criticized it also. But it has a no. of positive effects. The company is able to recruit many brilliant students straight from college.

5} Learn to survive

In Microsoft, Bill Gates has created an engaging learning machine by creating Microsoft campus, Continuous feedback loop, testing their products on real customers as he believes, it’s a sign of Smart Organisation & the only way to avoid making same mistakes twice.

6} Don’t expect any Thanks

If there is any lesson that Bill Gates has learned the hard way is that’fame & infamy‘ are never far apart.

You can’t expect to become the richest man in the world without making some enemies.

7} Assume the visionary position

Bill Gates is a new type of Business leader. Over the years, he has repeatedly shown that he is the closest thing to the computer industry.

His in-depth understanding of technology & a unique way of synthesizing data gives him a special ability to spot future trends & give direction to Microsoft strategy which inspires Microsoft fans & shock its competitors.

8} Cover all the bases

Microsoft is a success because of the ability to manage a large no. of projects simultaneously. Gates himself is a multi tasking man & can have several different technical conversations at the same time.

Gates says to never stop learning, stay restless and build a multi product strategy.

9} Build a byte sized business

Microsoft remains a small company relative to its stock market valuation.

Internally, the company is constantly splitting into smaller units to maintain an Entrepreneurial environment & this enables Gates to keep his grip on the company. Gates says that Although Microsoft employs many thousands of people around the world, yet he tried to retain the feel of a small company because if we think like a big company, we’re dead.

10} Never, ever take your eye off the ball

Gates has been at the top of his profession for more than two decades.

Yet, despite of his enormous wealth & achievements, Gates shows no sign of slowing down.

He knows that There are only the QUICK & the DEAD.

These were the 10 Secret tips from the Bill Gates way of business Friends. Hope you get value from it.

If you want the audio-visual format of this article, I created that also for you. Watch this beautiful video.

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HOW TO SET SMART & EFFECTIVE GOALS? 5 PRACTICAL TIPS.

HOW TO SET SMART & EFFECTIVE GOALS? 5 PRACTICAL TIPS.

Guys Have you set your goals in life yet? If not? Don’t worry. I am going to help you set smart & effective goals by 5 practical tips below.

I will show you ‘How properly setting goals lead us to success.’

Let’s begin with a short story.

Imagine a game of football, where players are there but there are no goalposts. What would happen?

The players would dribble & pass, but not know what to do after that. They wouldn’t know in which direction to kick the ball. The defenders would have nothing to defend.

Soon, the players would probably lose the motivation to sweat it out & strive harder.

There would be no winners, no results, no game. Sounds silly right?

But that’s just the way, many of us lead our lives. We have no clear goals. We run harder & dribble & wait for the pass, but We have no goals.

Writing down goals is the first & most significant step you can take towards achieving success in life.

Goals give purpose to life.

Another saying is,

People who don’t have goals are condemned to work for those who do.

So, never mind which side you’re on right now. It’s never too late to set goals.

Here’s 5 step plan to help you set goals & get you started on your journey to success.

1} DECIDE WHAT YOU WANT

  • Set balanced goals.
  • Make sure you cover all areas of your life- career, relationships, wealth, health & your interests.
  • Don’t set uni-dimensional goals to regret later.

2} MAKE SURE YOUR GOALS ARE  S.M.A.R.T.

S- Specific

M- Measurable

A- Actionable

R- Realistic

T- Time Bound

That means, If you want to lose weight, don’t just say, I want to weigh less (that’s just a wish, not a goal). Instead, SMART goal means I will shed five kilos & weigh sixty kilos by the 30th of September

3} WRITE THEM DOWN

Just writing down your goals on paper will increase your commitment to achieving those goals.

A Goal that’s only in your mind is no goal at all.

4} COMMIT TO DOING WHATEVER IT TAKES

That means

  • Be willing to pay the price.
  • Many of us have goals for eg(losing weight) but are unwilling to pay the price, ie. Saying NO to cheese cakes. Often, people say ‘once I get promoted’ I will work hard. But that doesn’t work. You have to put in the extra work.
  • You can’t reap first & sow later.

5} TAKE ACTIONS

  • Determine the steps you need to take & take the first step right away.
  • We all have dreams but what separates the achievers from the rest is the ability to take action.

In the end, I would like to tell you a short interesting & funny story. 

There was a man who prayed to GOD that he should win the Jackpot. He prayed regularly but someone else always seemed to win the jackpot.

Disappointed & angered by his lack of success, he looked above & shouted, ‘Why am I not winning the lottery? I’ve been praying regularly. That’s unfair.

Suddenly with lightning & thunder, a voice from above said, “FOR GOD’S SAKE, WILL YOU PLEASE GO BUY A LOTTERY TICKET FIRST?”

which means that To win the lottery, You’ve got to buy the ticket first.

Friends, I have taken this learning from ‘The Secret of Leadership’ book by Prakash Iyer.

You can get this book by clicking here.

If you want to just relax and understand it in a more better way, Watch this soothing beautiful video created with love for you only.

 

Write in the COMMENT box below any suggestions or anything I missed or anything you want. I love to talk to you.

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