Here is some simple advice from someone that has 'been there and done that'. If you have what it takes to start a successful company, don't wait. Do it now! There are a lot of articles on the Internet that explain what you need to start your own company. Most have a list of resources that are required before you should start your company. All of these lists have a section that breaks down the 'costs' that you will incur when starting your own business. The lists include things like office, phones, stationary, advertising, etc. There are a lot of articles and books that describe exactly how to start your own dream business. Most of these provide a step-by-step method that sounds so easy that it gets the reader excited thinking that they can do it. Why is it that so many entrepreneurs save up their money, start their company, by following these rules and lists and then fail miserably within a year? Because everyone is looking for the 'holy grail' that tells them how to start a successful company. This simply doesn't exist and would not work if it did. There is no book or article, nor will there ever be a book or article that could explain how to have the average person start a successful company. Most successful large companies that exist today, started with very little money. Don't believe me? Research it yourself. See what Apple Computers started with. See what Microsoft started with. See what General Electric, WalMart, General Mills, etc. started with. What made these companies successful? Sure, they all spend a lot on advertising now, but they didn't when they first started. A lot of successful companies even started by the person borrowing money from a family member. Before I get to the details, let me say that 'luck' does play a part in any successful company. Being in the right place at the right time, with the right product is very helpful. Beyond that, here is what you need to get your dream company off the ground. 1. You must have a 'burning desire' to make it work. This means that you firmly believe that it will work. You can't just 'hope' it works. You can't just 'wish' it will work. It must consume your entire waking day. If it doesn't, there is a good chance your company will fail, no matter how much time and money you throw at it. You must be willing to 'risk everything' in order to start your company and make it a success. 2. You must have a 'burning passion' for what you will be doing in your dream company. You must enjoy it beyond almost anything else. You must want to do it more than anything else in your life. If you're looking at it as a way to allow you to own expensive things, like cars, boats, planes, etc., you will probably fail. Your company must be an end in itself. You must want to make your company a success and that must be the reward you so desperately desire. 3. MONEY DOES NOT GUARANTEE SUCCESS. You do not need a lot of money to get it started or keep it running, but you must have creative thinking. You must think 'outside the box'. You must strive to come up with innovative ways to advertise and market your products and company. You must constantly test new ideas. Successful companies have proven that this doesn't take much money to get started. In fact, I have personally seen many, many companies spend millions and millions of dollars on advertising and marketing, only to have the product or company fail. Almost every successful company in the world today, started by thinking 'outside the box' for that period in history. There are many examples of this and I will present some of these examples in part 2 of this series. I will also explain some very important concepts in advertising your product or service along with how to actually start your company with no money. |
