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How
much money does it take to start in business?
We all understand that it depends a lot on what type of
business you want to start and how big an operation you
want to set out with.
Generally there is the misconception that it takes a lot
of money to start a business. Nothing is further from
the truth. I have started many times with almost
nothing. The experiences related in my book will testify
to that. What it does take is your strong motivation,
hard work for a while, and common sense. My book is
based on the premise that you are highly motivated, that
you are willing to work hard for a while and I appeal
constantly to your common sense.
A lot of new entrepreneurs start from a great idea. But
ideas are a dime a dozen. It is the person who knows how
to make an idea work and come to fruition who is the
true entrepreneur.
How
much money can I make in business? If it was so
lucrative then how come I see so many small businesses
just surviving?
First of all most entrepreneurs won’t really tell you
how much money they are making. But look at their
assets; that will tell you the true story.
I did extremely well. And so can you. The reason many
small businesses are merely making a living is that they
don’t follow the rules. If they knew the rules and
applied them – as they are laid out in my book –
they will drastically increase their ability to make
money.
Most people have a better chance at making a lot of
money than I did. By the time any of my businesses start
making a good profit I usually sell it so I can move on
to another project. If you are not as restless as I am
your chances of making more than I ever did are very
good.
What
I the worst that can happen, financially?
The worst will only happen if you create it. One of my
quotes in the book is: Plan for the best possible
outcome, but prepare for the worst.
When you do that the worst never or seldom happens. You
are simply too well prepared to allow it to happen.
Start on a small scale and then grow with the business.
That keeps your risk low and gives you a great
opportunity to learn all there is to learn.
If you can run a small concern well, you can also handle
a much larger concern. Large or small, the same formula
and the same principles apply.
Is
it all about money? What about family, happiness,
community, spirituality?
Money is just a form of energy. What you do with it
after you make it is totally determined by your personal
priorities. But make it first so that you never have
financial worries. To me that is freedom.
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