The book "Startup Without a Budget" is addressed to aspiring businessmen. How to Become Successful in Business? How to do business?
One day, Mike Mikalowitz, author of Startup Without a Budget, decided to calculate how many actions startup experts advise to take in order to become successful in business. He went to Amazon and began to jot down the steps in his head using the titles of business guidebooks.
601 The Essential Thing Everyone Needs to Run a Business, 28 Non-Misfiring Strategies for Business and Personal Life, 7 Indisputable Laws ….
The author lost count on the number 16 107. And he decided to write a book about the need to adhere to only one fundamental principle "Faith + Focus = Decisive action."
Mike Mikalowitz is President of Obsidian Launch, which specializes in website optimization, among other things. At the time of this writing, Mikalowitz has experience of starting three companies. He started his first business at the age of 24, founding a computer assembly company. I sold it to an investor on December 31, 2002. On January 1, 2003, he launched a new business, three years later he sold it too. He admits that he participates as a partner in the launch of a new company approximately every four weeks.
In the center of the narrative is the toilet and paper businessman (TBB). This term denotes a person who has decided to go into business, but apart from a vague desire to work only for himself and a couple of dollars, he has nothing. Mikalowitz conducts his conversation with TBB as if he were admonishing a negligent student.
It is reminiscent of the words of Henry Ford, who said: “If you think you can do something, you are right. If you think you can't, you're right. " Mikalowitz agrees with this statement of the question: only self-confidence and proactive actions will make it possible to achieve success in business.
Business should make money, not start with it
The author says that during his presentations at business building trainings, he usually pulls a $ 100 bill out of his pocket. "Who wants this $ 100?" he asks. Hands fly into the air. He repeats this question until someone timidly gets up from his chair and takes the bill from his hand. “And then we start talking about believing in ourselves,” says Mikalowitz. “If you’re not ready to get out of your chair and take $ 100, why the hell do you think you’ll do something for a hundred million,” he asks.
What if you have less than $ 100 in your pocket? Spend it however you want, as long as it helps to clearly articulate the goals and objectives of your business. After all, a business should bring money, and not start with it.
David Tyrman, for example, drank away the last $ 20 that he had left after the collapse of the business of selling antiques. The next morning, he realized that complete failure is not the worst thing in his life. And he started all over again. As a result, his small company grew into a major branding player. She managed to get big clients like Banana Republic, Old Navy and Nike. He later sold his multi-million dollar business and founded a new one.
In traditional business training, it is argued that when starting a business, you must start by drawing up a portrait of your consumer. Mistakes could not be cruder, says Mikalowitz.
You yourself are only really strong in something very small
Starting a company is primarily about serving your needs, your beliefs and values. And your beliefs, in turn, should be based on the fact that the only purpose of your business is to make the consumer feel better. Regardless of what you do - offer insurance or medical services, or take out the trash. “Even this awful book you bought in order to feel better. And you will read it only while you enjoy it. If you don't feel better, then dump her. And then you will feel better,”the author sneers.
In addition, the TBB beginner must develop a manic focus on his job. Moreover, it is better to set a clear goal for yourself. It was this narrow focus that led the current giants to success: for example, Microsoft began with DOS, Intel - with processors, Cirque Du Soleil - with circus acrobats, Ford - with Model T. And Procter & Gamble only survived by producing candles, and then made a breakthrough by focusing on soap. And you yourself are only really strong in something very small.
Now it's time to start defining a buyer. And you have to do it so well that you can pull a potential client out of a crowd of thousands. Where do they live? What do they like? What do they hate? What can't you make them do? What pisses them off over and over again about the industry in which you intend to settle? How old are they? How old do they look? How old do they feel?
And also - learn to say no to "lousy customers" who are underpaid and asking too much and take advantage of you at your expense, Mikalowitz advises. After all, the opinion that for a successful business you need to be busy all the time is wrong. By agreeing to any offers for any money, you risk losing your reputation in the market.
In search of start-up capital
After that, you can start looking for start-up capital. “Check out the attic, collect old stuff, including a collection of old battered porn magazines, and try to sell it on eBay,” Mikalowitz suggests. Try to get a loan secured by real estate or a car. Contact your relatives. “Wealthy Uncle Hecklbert … Why not get some money from him,” the author advises.
The book is equipped not only with psychological advice, but also with practical tips on how to reduce the cost of the process of doing business. Among the tips are obvious: for example, using Google Docs to prepare texts, tables and presentations, participating in forums and blogging, registering on social networks.
When a business starts, try to automatically transfer a certain percentage of it to a separate account every time you receive revenue. For example, 5% on every dollar received. Over time, the percentage can be increased. If hard times are knocking on your door, this money will come in handy to support your business. And if the business starts to grow, and the state of the account exceeds all reasonable needs for a rainy day, take a share for profit distribution - as a reward for building a healthy business.
