Never Get a "Real" Job: How to Dump Your Boss, Build a Business and Not Go Broke

Read the book "Never Get a "Real" Job: How to Dump Your Boss, Build a Business and Not Go Broke" by Scott Gerber
Summarising it in the following bite-size notes: 

• A third of small businesses fail by their second year, and less than half of the businesses last four years. 
• Analysing failures teaches us valuable lessons that will help us to avoid failure in the future.
• Next, take some time to figure out what the consequences would be if things do not work out. 
• The third thing is to figure out whether your business idea would continue to be a good idea at any point in time. 
• Finally, consider all alternatives - if the business plan does not work out, what is next? 

Running a Start-up

• When we start a business from scratch, there is bound to be lots of uncertainty.
• By being authentic in our interactions with our customers, we become more relatable. 
• Do not assume that others will share your passion. 
• Make sure it is realistic that you can make it happen on your own. 
• The crucial first step is a painstakingly detailed business plan. This wil take time to draft, but yet it is so so very important. 

A One-Paragraph Start-Up Plan

• This plan lets you test your ideas by doing, and it creates an action strategy that you can use as your business grows and evolves.
• The fundamental question you will need to ask yourself
  • What is your product or service that you would like to offer? 
  • Who would be your primary clients? 
  • How do you plan to generate immediate revenue? 
• Try to answer with a few short sentences. 
• Next, turn your plan into lists filled with action steps, called Guess and Checklists. 
• From each sentence, generate five points you can put into action right now. 
• Create a chronological checklist, complete with expenses and to-dos.
• Each time you complete a to-do, do a self-evaluation. What went well and what can be improved? 
• Evolve your plan by removing the hypotheses that did not work, and then improve on those that did. 

How do you Partner? 

• First question to ask - are you sure you will need a partner? 
• Second question to ask - would a standard partnership be the best model? 
• Third question - what does your partner bring to the table? Are your goals aligned? 
• Fourth question - will the partnership work both in theory and in practice? 
• Fifth question - make sure you draft a partnership agreement and put everything down in writing. Remember to define all equity ownership, corporate responsibilities, etc. 

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Design Your Entrepreneurial Lifestyle 

• An entrepreneur has freedom that an employee does not have. Yet it is not a "normal' lifestyle as he or she will need to put in a lot of time into the business to make it work.
• Sometimes, you will need to wear different hats, from accounts, to sales, to marketing and operations. 
• You will need to design a power routine, which allow you to adjust your life around your business strategy. 
• In the beginning, you will need to work every day for an entire month. It will not be easy, but it will help you gather all the information that you need. 
• You will then need to categorise and determine the success for three areas: Strategic Planning, Internal Operations and Revenue Generation. 
• Keep adjusting your power routine until you are confident that its perfect. 

Start With Your Website and Lunch! 

The first impression starts with your website - which is the most important component of your brand. 

• Try one of the inexpensive, subscription-based service providers, such as Weebly (which I am using!)
• Figure out what kind of information and connections that you will need. Then brainstorm the list of people who might be able to help. 
• Pick about 10 people from your long list and reach out to invite them for lunch. Make this a personal invitation and listen to your lunchtime consultants to gather as much advice and connections as  possible.

Effective Marketing 

• You will need to start by getting a well-crafted message out there in a targeted way.
• The first step is to create a brand language, which in essence is a bunch of key phrases that describe what you do. 
• The next step is an active brand message, which is a single sentence of about seven to eight words. 
• You have to make sure that the distribution channels for your marketing fit the goals in your active brand message. 

Last Point - Prioritise Your Health! 

• Initiating a start-up will take a lot of time and effort, but that doesn't mean working 24/7. 
• To persist in the long term, you will need to take good care of yourself. 
• Make it a habit to exercise and give yourself some down time.