The 6th Step in Starting a Start-Up

The 6th Step in Starting a Start-Up

A couple of weeks ago, we ended with our 5th Step in Starting a Start-Up.  This was also the end of the first module in this series of four modules on the subject of Starting a Start-Up.

We are continuing with the next module, Planning Your Ideal Business, which is also our 6th step in Starting a Start-Up.

Should I Quit?

start-upBased on what you learned in our first module, and if you’re currently employed, you’re probably wondering by now if you should quit your day job. You have narrowed down your business idea and are ready to rock and roll. Don’t quit yet!

Build up your business first.  Join social networks in order to become known as an expert in your field, building your credibility and reputation.

Start out slow with one client. Servicing one client will reveal kinks that need working out, as well as processes that need to be changed or eliminated.

When you acquire a second client, you will have learned a lot and will be ready to grow. We’ll cover more business building tips in our upcoming webinar.

I Need Quick Cash!

If you’re not working or need more money for whatever reason, you can create a business model that uses your skills, strengths, and resources you already have and one that generates quick cash. Offer your services online; for example, as a virtual assistant (VA).

A Reality Check

start-upEarning immediate cash using your skills is okay initially, but this model is close to being like a job rather than an online economy as we discussed in Module 1.

Becoming an entrepreneur is a mindset. You’ve been conditioned as an employee and, as a result, you might limit yourself and not “think out the box.” For example, an entrepreneur who needs new software will not say, “I can’t afford it.” She will figure out how to get it even if she can’t afford it.

After you have reconditioned your thinking, examine your current business model.  Will it take you to where you daydream of going? This is your reality check!

An Entrepreneur’s Business Model

In the above example, we used a virtual assistant business as a business model to make immediate cash.  A virtual assistant with an entrepreneurial spirit will change her business model from a quick cash model to a business model that will take her to where she daydream of going.

One possibility is she will organize a team of VAs with various skills. She will then offer those specialized services to clients and outsource the projects to her team.  Her model went from a VA business to a Multi-VA business.

What type of business model do you have in place?  Is it taking you to where you daydream of going? Come back next week, when we discuss additional streams of income.

As always, thanks for reading!

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