THE 7 STEPS TO STARTING A BUSINESS
It’s not how many hours you work nor is it how many hurdles you must overcome, rather business is about getting from point a to point b in the quickest manner possible while maintaining product quality and healthy margins.
Often, when starting a business, entrepreneurs think too much about small, unimportant details. Since time is our most valuable asset, this carries a high opportunity cost.
As a matter of fact, a business can be up and running in a much more timely manner than most think. Here are 7 steps to get you there:
- Determine your offering and market demand – Entrepreneurship is not about hitting a home run; trying to create the next “big thing” has a very poor risk/return rate.
Instead of a long shot, pick a job. Think, what do you want to do for a career? Determine what you want to sell based on what you’re passionate about rather than what you think will make money.
If you love what you do, you’ll find ways to monetize it. Conversely, if you chase money, you’ll end up unhappy and worn-out.