If you’ve been thinking about starting a business to earn more — and you’re wondering how it would even work during coronavirus — here’s what you need to know.
People are still buying things!!!
Parents will happily spend money for their kids to learn. People are spending money to be entertained.
Confidence class for their 10-year-old son
Chelsea pizzas for remote family pizza party on Zoom
New clothes (yes, no kidding!!!)
Virtual fitness trainer
Virtual painting class
DO-it yourself hair tips
And so on so forth....
Imagine how many things you already know that people would pay for. (I can show you how to find your business idea. Keep reading.)
Move past “I don’t have an idea.”
You’re not looking for one idea — you’re looking for lots of ideas. Then you rapidly test them to see which one can be a profitable idea. There’s just one catch: Your idea doesn’t fall from the sky. You follow a process to generate lots of ideas, then we can show you how to narrow it down to a profitable idea.
Don't reinvent the wheel.
Lots of other people have figured some of the hard parts of starting a business out. Use their lessons! Give yourself every advantage to save time and avoid common mistakes!
When I had my first event company or my first fashion brand with my sisters, I would have given anything to have a system that showed me how to find customers, grow my business, find finances, or simply understand BUSINESS. We have tools and Le School you starting in September next year. In a hurry? Worry not, you can have a personalised sessions with me or even just ask me a few questions here (the latter link might not be ready before 4t January 2021).
Get honest about what’s stopping you.
While most people are worried about failing, so many people are afraid of succeeding!
They think that “money changes people” (YES! They’re right — money allowed people to dream bigger, to be more generous, and to be more adventurous.)
They worry that if they grow a successful business, they’ll be chained to their desk all day long. (NO! Having too many customers is a great problem that you can hire away.)
Or they worry that they’ll suddenly start posting pics on a yacht to show off on their Instagram account. (NO! You won't. Like we say in French "Vivons bien, vivous cachés meaning "Live happily, live discreetly")
You choose what your "Rich" and "Entrepreneurial" Life looks like. That could be buying your mom a house. Or taking a 6-week sabbatical every year. Or collecting comic books. For me, it originally meant being able to go to the hairdresser weekdays in the middle of the day. I am rebellious by nature so having the chance to do what I like when I like worth much more than being a billionaire.
It’s not enough to “think about” starting a business.
How long have you been reading business books? How long have you been “trying to figure it out”? If you want to start a business, put time and money behind it. Make a decision to start a business today.
Building a business doesn't mean you need to start the next FB. Even a tiny business that brings in just $1,000/month can be game-changing. What would you do with an extra $1,000/month?
Embrace constraints: No expensive rent, no expensive inventory, low overhead!
Keeping your costs low gives you flexibility and freedom. Think of all the storefronts with expensive rent, inventory, and overhead...who are under extreme pressure right now. Embrace your constraints. You don’t need the perfect business with ta perfect website. You need an idea that you can turn into an asset that your customers are happy to pay for. Keep it simple.
Most of us worry about all the things that could go WRONG. Focus on all the things that could go RIGHT.
What if you could add an extra $25,000/year? What would you use it for? What if you could stop worrying about $3 questions and start asking $30,000 questions? How would a successful business change your life?
If you say "I’m tired" or "I can't do it" enough times, it becomes your identity. That’s why starting a business is as much about changing your identity and your mindset as it is learning new business strategies. “I’m not the kind of person who can start a business” is your old identity. This is your new identity. " I am starting a business today. 2021 Is my year"
Best wishes to you all. And see you next year
Sté Tumba Capital Team