Everything You Need To Know About Starting A Business In Less Than 300 Words

A short tale on how to be an entrepreneur…

Find someone who has a problem.

“I can’t figure out how to X!”

Solve that problem for them — for free.

“Thanks! Do you do this for other people too?”

Solve that same problem for the next person — for a small fee (way under market price).

“Thanks! I know a few other people who would love your help solving X!”

Solve the same problem for another person, and another person, slowly raising your fee — until you begin to hit a ceiling.

Ask yourself these three questions:

  1. Can I hire someone to do what I’m doing right now?
  2. How many people in the world need this problem solved (and is it worth the effort)?
  3. Will I enjoy this journey?

If yes to #1, hire someone and attempt to teach them everything you know. And if they can successfully do what you were doing before without your involvement, you’ve got a potentially scalable business.

If yes to #2, and there are plenty of people to service in the world, take your first hire and try reaching out to as many of them as you can. If you can close 1 out of every 10 you talk to, you’ve got a potentially scalable business.

If yes to #3, and you are enjoying training your first hire, and enjoying working with more and more people who need what you’re offering, you’ve got a potentially scalable business.

The worst mistake an aspiring entrepreneur could make is chasing the idea of a business before they’ve served their first customer.

Find that first person.

Do the work for free.

Learn what works and what doesn’t with 0 risk.

And then begin.

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