5 Keys To Creating Any Profitable Business In Less Than 30 Days
Post written by Daniel Richard. Follow me on Twitter.
Some of my friends have been asking me the following question, and since it’s been asked once too often, I think the answer itself deserves a post on the blog.
“How do you get 5 businesses up in a single month?”
Good question, and I’ve compiled a list of the top 5 answers that would probably help you get started.
1. Start with little. Alright, I don’t own all 5 of them. The first was a flop (“No one’s ever made their first jump.” ~ Matrix), I co-founded the 2nd (a wholesale BBQ in Singapore, now winner of The Green Book Award: Best Food — Gold — 2009/2010), while the other 3 were built to expand my parent’s already existing business. I don’t earn anything from the latter 3, while the I’m only making a tenth from the first 2. Yes, it’s passive. So all is good.
Perhaps one of the huge myths of starting any business is the need for huge capital. Allow me to be fully transparent to all of you. I’ve started in Jan 2010 with S$200 ($140.7954 U.S. dollars); and that included whatever meal expenses I had for the month. Starting with very little got me to really focus on getting only the essentials, and ignoring everything else that aren’t gonna help in anyway. That meant that I can’t hire anyone, neither would I get to travel often (traveling anywhere, even just to meet friends anywhere beyond the neighborhood, is draining on both the daily expenses and energy), nor could I buy the biggest systems or even outsource anything with the hope of spicing up the business.
