MR WILDY'S WORLD
  • Home
  • Travel
  • Growth
  • Reviews
  • Videos
    • Video Diary & Journal
    • 360 Videos & Images
    • Stock Videos
  • About
    • Privacy Policy
  • Contact

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

22/2/2019

0 Comments

 
Picture
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. 
​

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. 
Picture

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. 
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Categories

    All
    Books
    Branding
    Career
    Courage
    Entrepreneur
    Exercise
    Habits
    Hair Loss
    Hair Removal
    Headaches
    Health
    Inspiration
    Lose Weight
    Marketing
    Muscle
    Productivity
    Start-up
    Technology

    Archives

    June 2020
    May 2020
    January 2020
    December 2019
    November 2019
    October 2019
    August 2019
    June 2019
    March 2019
    February 2019

    RSS Feed

Proudly powered by Weebly
Photos used under Creative Commons from davidstewartgets, marcoverch, focusonmore.com, verchmarco
  • Home
  • Travel
  • Growth
  • Reviews
  • Videos
    • Video Diary & Journal
    • 360 Videos & Images
    • Stock Videos
  • About
    • Privacy Policy
  • Contact