The Biggest Lies People Believe About Starting Any Kind of Business :
1. You need quite a bit of experience.
2. You need to be an expert at it.
3. It takes time to get it off the ground.
4. It requires capital / money.
5. It takes a lot of effort and hard work and there are no guarantees the business will do well.
6. You need to have the right networks / know the right people.
7. You need to spend quite a substantial amount of money before seeing any returns.
Here’s what I think :
You need quite a bit of experience.
1. It’s not experience you need but the ability to identify a lucrative opportunity and to go for it. (How to develop a mindset to spot lucrative opportunities? More in my upcoming book Never Lose Money In Business Again.)
You need to be an expert at it.
2. Most people take for granted that a PhD or mere time spent in a certain position qualifies one as an “expert”. As long as you have the minimal skill, knowledge or ability to do something at least ONCE you can duplicate that which works and the scale the effect. In fact, I think PhDs are often less of an expert in anything because they have spent so much time on a niche that time has moved on without them acquiring knowledge in other areas that would’ve synthesized with their niche.
There are exceptions of course but for me, “expertise” is not mere time spent repeating something. “Expertise” to me is reflected in one’s ability to execute anything at a minimum level of competence at least ONCE and to keep working on incremental improvements over time.
The problem is that so many people stop themselves from ever doing ANYTHING because of the belief that they’re not “an expert” in that area.
If you baked a lemon chiffon cake ONCE or made egg tarts ONCE and they tasted good you’re good to go to start taking orders for egg tarts and lemon chiffon cakes and get a business going with it.
The problem is people diminish what they are good at and only give themselves permission to serve others when their Ego tells them no one can be better than them in the entire industry.
It takes time to get it off the ground.
3. It takes MOMENTUM, FOCUS and CLARITY, not time. I’ve started and discarded many successful business ideas. Any one of those ideas are just as good as the rest but there are usually only 2 reasons why I don’t keep up the momentum :
(a) It wasn’t something I can figure out how to scale or duplicate at that point in time with the resources available to me.
(b) The focus on it would take away from a bigger goal or focus. (Always chasing the bright shiny things…..)
To not succeed financially is actually a CHOICE because it is a lot easier to succeed than to not succeed. And the reason that so many of us do not succeed boils down to only 2 things : lack of clarity* or lack of focus. The ideas themselves, the business itself, can and will work.
I’ll just touch a bit on lack of clarity : this means not being aware that the beliefs we hold about how we should go about doing things are counter productive or self-sabotaging.
It requires capital / money.
4. If you can make a sale or collect payment before starting work or buying the stock you need then it does not require capital / money. If you can negotiate a deal and calculate/demonstrate the certainty of a good deal any investor would gladly advance you their available liquidity. That is the idea behind IPOs.
Recently I started dabbling in making websites. I have always enjoyed the idea of one day being able to develop websites. I built my own website using a tutorial and I was good to go. My first client came from a cold market. I got a call, met up for a discussion that lasted about an hour and collected full payment the following day before starting work.
I get it that a lot of people use this “20% or 50%” deposit system but in the seminars I’ve attended it seems that one has to pay full price upfront before being given a seat. There is no reason why my own businesses shouldn’t operate on the same model as businesses that sell you a ticket upfront. I pay for my web hosting and domain name one year upfront, at the least. We pay for our homes and our cars upfront by taking loans. We pay a deposit and upfront payment when we apply for internet or electricity.
So why would anyone settle for a “pay later” mode of business? Your inability to collect payment upfront before starting work says more about your business and money sense than it does about the market at large.
If you feel guilty or uncomfortable about receiving money or asking for advanced payments then you are still stuck in an employee mindset where you complete a month’s work before you are given your dues for that month. That is not how business works though.
It takes a lot of effort and hard work and there are no guarantees the business will do well.
5. What people call “effort” and “hard work” boils down to just 3 main things :
(a) not sure if they can get the business
(b) not sure if the business revenue can be sustainable
(c) relationship with employees.
Being eager and willing to do the buying, negotiating and selling process (promotion and marketing) solves (a). Repeating (a) solves (b). Being a model and treating others the way one wants to be treated solves (c).
You need to have the right networks / know the right people.
6. You don’t need to wait around until you have the “right” connections. You show up in life as someone people want to associate with, JV with, work with and network with.
You need to spend quite a substantial amount of money before seeing any returns.
7. You need to focus ALL your energy and attention on where the money is and not sugarcoat efforts with second, third or fourth degree attempts that “may possibly” make money. Find the shortest, most direct path to the money. Big or small – learn to FOCUS on where the money is to the exclusion of every other factor. If you can’t find the shortest path of least resistance then forget about the money and focus on developing yourself to BE THE MONEY.
It is absolutely possible that anyone who is struggling with starting a new business or struggling for years would find their own “logic” to argue any of the above statements I have made here. And that is EXACTLY the beliefs you hold that are causing all the struggle in business.
What I presented here is how people who find business “effortless” actually FEEL on a vibrational level and why they continue to work way past their retirement because they enjoy the game and also why even if they lost everything they are eager and driven to start another business.
The more you do not resonate with what is laid out here the more likely you are to remain in your job or remain stuck with the problems you are having in business. That is simply because you are out of resonance, out of alignment with what is a vibrational match making business a fun and easy thing to do.