| Just a week ago, I met two of my college friends. It's | | | | Now I learned my lesson. In starting a business, stick to |
| been four (4) years since we've last seen each other, | | | | your guns. In fact, just start with one gun first. Do not |
| so we decided to have a cup of coffee to do some | | | | diversify and "reduce risk" (diversifying is only good |
| catching-up. | | | | when investing in the stock market). Focus your |
| We mostly talked about our life back in college, how | | | | efforts in just one business first. Set-up a system to |
| the school culture has evolved, the people we were | | | | automate it and hire people and professionals to take |
| with, the education system that our school had, and | | | | care of it. |
| our careers. Apparently, when we got to talk about | | | | Based on my experience, it would often take at least |
| our careers, they were so shocked to know that I | | | | two (2) to three (3) years to fully automate a business |
| already had two businesses. They even got more | | | | depending on your experience (learning curve) and the |
| shocked to learn that I have been investing in the stock | | | | nature of your business. |
| market, and still kept my day job. (If you knew me | | | | Tip # 3 |
| during my college days, I bet you'd also be shocked) | | | | Start small always. |
| They were really intrigued with the fact that I already | | | | This inevitably reduces the fear you have inside you |
| had two businesses and could even afford to keep | | | | knowing that you are not using your entire savings to |
| my full time job in one of the biggest companies in the | | | | start a business. There are many ways to start small |
| Philippines. They asked me questions like - how I | | | | and I will discuss this also in my future posts. The |
| started, how big was my capital, how much do I earn, | | | | important thing is, you do not loose food on your table, |
| and many other questions. (I wanted to tell them to join | | | | and be able to sleep at night knowing you still have |
| our Truly Rich Club with Bo Sanchez and they will be | | | | enough to survive. |
| able to start their own business as well) | | | | Tip # 4 |
| I had so much fun telling them my story, and even told | | | | Learn to sell and market. |
| them about my future business plans like acquiring real | | | | No matter how great your business start up idea |
| estate properties and renting it out to receive cash | | | | maybe, at the end of the day if nobody knew your |
| flow. | | | | product existed, getting sales will always be very |
| After telling them my story, I encouraged them to start | | | | difficult. Hey we all admit that apart from fulfilling our life |
| their own business as well and ironically, both of them | | | | mission to be successful businessmen (yes, I believe |
| seemed to look like "squirrels trying to get back in their | | | | that is my life mission, I hope you too) we also want to |
| hole" to hide from people. The feeling in their eyes | | | | earn money right? So how can your start up business |
| suddenly changes from excitement to sadness or | | | | be successful if you can't sell a single cent from the |
| worse - fear. | | | | services or products your start up business offers? |
| At one moment we were so happy talking about | | | | To learn more about selling and marketing I advice you |
| business and how it drastically grew my income, and | | | | take up sales lessons from someone who has actually |
| eventually change my life but when I asked them to do | | | | experienced this in the actual battle field. |
| the same, all they could think about was the negative | | | | Remember this, sales and marketing will be the life |
| factors in starting a business. Both made excuses like I | | | | blood of your business. So please be sure that your |
| do not have the capital, I don't know how to start, I'm | | | | business start up has a strong sales and marketing |
| not the business type of person, I do not have the time, | | | | system, the back up your thriving business. |
| I do not have an idea what business to start. | | | | Tip # 5 |
| It really saddens me to think that a lot of people really | | | | Get yourself a Mentor. |
| want a business of their own, yet only a few even try | | | | Yup, you heard it right. I had a mentor during all the |
| start. They complain about their income and how they | | | | times I was doing my trial and error in starting a |
| are treated at their job, but they still work anyway. | | | | business. Remember that in business, there is really no |
| In my case, I started dreaming about having a business | | | | guarantee. The market is actually free and a lot of |
| of my own even when I was still very young. Hence, I | | | | things could happen to your business. |
| unconsciously pursued that dream without even | | | | Having a mentor on your side, gives you an advantage |
| realizing it. Now, it wasn't really that easy, I even failed | | | | against your competitors since you are getting valuable |
| tremendously. But as I tried more and more, I became | | | | advice from someone who has gone to the route that |
| better and better. | | | | you are about to partake. Your business mentor will be |
| To help you with overcoming your business start up | | | | short of a fortune teller of your future. Since he has |
| fears, here are five (5) tips and ideas that have greatly | | | | gone to the process of failure, success, failure, |
| helped me in my business success: | | | | success, failure and success again. |
| Tip # 1 | | | | Now where to find these fabled mentors? |
| Have a strong burning desire - A dream life! | | | | Actually finding a mentor is not as hard as it seems, |
| I put this as the number one tip because I believe that | | | | they are actually everywhere. They can be your |
| this will be the key to your business start up success. | | | | parents, your rich uncle, your quiet neighbor who owns |
| Having a strong dream will keep you going no matter | | | | hundreds of rental properties, or the old woman that |
| how many times you will fail. Mr. Kiyosaki coins it very | | | | you will see in the gym. It doesn't have to cost you a |
| well when he said, "It is the WHY that is important to | | | | fortune to get a mentor, you can trade services with |
| achieving financial abundance, not the HOW". Know | | | | him so that he will mentor you for free. |
| why you want a business, and the how will slowly | | | | Ask him this question - "what is your biggest project |
| unfold right in front of your eyes. | | | | right now that I can help you with?", and of course you |
| Tip # 2 | | | | offer your services for free. With this effort alone you |
| Stick to your GUNS. | | | | gain his trust and his ideas on how he handles his |
| When I started doing business, I tried to do it all at once | | | | business. |
| and never got a single result. I tried flipping foreclosed | | | | Let me end this business start up idea with the true |
| properties, opening a retail store, joining a networking | | | | definition of FEAR. It actually means: |
| business, started a logistics business, and on top of | | | | F - False |
| that I kept my full time job (yeah I know what you are | | | | E - Expectations |
| thinking, I was crazy right). My belief during that time | | | | A - Appearing |
| was hitting a single bird with thousands of stones. I told | | | | R - Real |
| myself, if I want to succeed I must open many | | | | So when you a come up with a very good business |
| businesses at the same time. | | | | start up idea, remember that your fears are just false |
| Big mistake... | | | | expectations that appear real but in real life it does not |
| I ended up frustrated, emotionally drained and broke. | | | | exist until you have done it. Instead of feeling fear, think |
| Even worse, my friends who invested with me got all | | | | of your dream and take action, action, action, action..... |
| mad at me. | | | | until you meet success. |