In the spirit of what I wrote in my book, I would like to share some of my business development thoughts with you. By starting another life coaching business, you can make some money while you learn. Here is what I would advise:
Start with a few different businesses.
Once you have at least 5 or 10 businesses, try to combine them into a larger business.
Don’t buy a business in the beginning. Buy a business for when the business you start has the potential to generate revenue.
In particular, don’t buy a new product or service at the start. Instead, focus on adding value to existing business, which will eventually drive additional customers.
Once you have a few businesses, try to combine them as a business that generates revenue.
That said, don’t be surprised if, for a while, your business turns out to be nothing but an “old time radio DJ.” It’s fine, and it may even be profitable. But if you were to sell that business in the beginning, that would still create a lot of work.
So, instead, keep a large percentage of your sales coming from one or several specific businesses. If you are going to give up some, it may be better to take some of them.
If you start a new book, website, or blog, do not sell a percentage of your new business. Instead, try to sell a book or a new product that already has a solid track record.
If you are going to start a new business, it’s best to start something you can keep for multiple years.
I know there are many, many business ideas out there. But I believe there is no right or wrong business creation strategy. It is completely up to you as an entrepreneur.
Do you have questions about business? How do I start a business? Leave a comment below. I would love to hear from you.
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A former “Daily Show” correspondent accused of taking naked photos on his cell phone during a
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