Wouldn’t you rather own your business outright?
How much money have you lost in the past on your brilliant ideas?
The typical startup.
We got a brilliant idea. This idea will be worth millions!
This idea or invention is better than the invention of sliced bread.
So, of course, I should go all in! right?
Well, that’s the typical mindset of an entrepreneur. But because we have a brilliant idea. We shouldn’t pull out the credit cards and max them out. As a matter of fact, that was my issue early on in my entrepreneur journey. I would go all-in max out every single card I had. I would even apply for new credit cards because I thought. “It’s OK” my business will start making money and I’ll pay all these cards back, sooner or later. Well not exactly. Because I had the idea that didn’t mean that my business idea would take off. I know you’re thinking. “Well that’s you bud, but I have a degree in this or that”. But? What if you lose it all? What if you even bring people along with you and them to go all in. And they lose their life savings along with you. Well, I’m sorry but the statistics are right. Not all business ideas we’re created equal!
According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn. source
In 2015/2016 Global Entrepreneurship Report published by Babson College and several other organizations, over half of discontinued businesses halted operations because of lack of profits or financial funding. Source
See “Lack of Profits or Financial funding”. Don’t get me wrong I’m not trying to be negative Natalie here but let’s face it. Going into debt to start your business is not the way to go! Trust me I’ve been there done that, got the t-shirt. I have invested thousands over the years into my business to watch it go down the drain several times. Even after years of trying to recover from my wounds I still went into debt again to try and launch my businesses. Until one day after hearing some amazing advice from a man who I respect and lesson too. Dave Ramsey, said, “The borrow is a slave to the lender even in Business”! Those words hit home for me. After hearing his advice I made the decision to never go into debt to start my own business. I will cash flow my way to success. Finding a way to start from scratch. Work extra jobs, overtime at work to make sure that I don’t go into debt to follow my dream of “True Lifestyle Freedom”.
Think about it. For one second…
How would you feel if you started your business from scratch? Own your business where you call the shots and not some credit card company. I challenge you to find a way to start from scratch and not go into debt to make your dreams come true. Plus isn’t that what we want as entrepreneurs? Don’t know about you. I want “True financial freedom” from the bondage of a boring 9 to 5 and from the credit card companies too. I don’t want to trade bosses. From boss at work to some creditor who is calling me and harassing me to pay them back. Forget it, that ship has sailed and I have a new way of doing business. That means “Patients” yes “patients” that’s all it takes to start and grow a business from scratch and one that has no debt! Imagine having your business profitable and debt-free! You would have a freedom lifestyle.
So I know you’re thinking. OK, how can we do this? How is this possible?
– Start off small, look for a quick and easier way to start your business.
– Create a “How to Course”
– Write an eBook about your business and how they could succeed in the area of your expertise with your help.
– Provide free useful content to potential clients as an authority in your business. By blogging and starting a podcast or YouTube channel.
– Check out my “Start Here” page. It’s filled with some practical steps you can take today to get started. With little or no money at all.
– Also, sign up to get my free cheat sheet. “The Ultimate Drop Shipping Supplier List“.
And don’t forget to
BLOW UP YOUR $ALE$ with my NEW FREE Cheat Sheet “The Top SECRET cheatsheet to Blow UP YOUR $ALE$”
Thus business created with less and less baggage. Physical products? Reach out to college students in the area of your industry. Engineering students that could afford to help you out with a small cut of the profits.
Cash flowing your business is possible in this world of technology-driven businesses. Don’t give up, keep at it. If you surround yourself with like-minded individuals you raise the percentage of success. So make sure you create your mastermind group that will ensure your success. So make sure you have a team with you at every step of the journey.
Now please remember you can’t “Microwave your way to success”. Success happens to slow and steady Go-Getters.
What aspects of your business can you reduce to make it affordable?
“Please share this content with someone you know will enjoy this valuable information.” Thank you
Comment below and share with all us.
Disclaimer: The links provided are affiliate links. This means that if you choose to buy or subscribe to these services, I make a commission. This commission comes at no extra cost to you.
Latest posts by poweredbyincome (see all)
- What is Drop Shipping? - August 29, 2019
- Leveraging Your Mentors Experience - July 19, 2019
- Is Drop Shipping the best way to bootstrap an e-commerce business? - July 11, 2019