2.5 • 884 Ratings
🗓️ 1 March 2024
⏱️ 9 minutes
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| 0:00.0 | Let's get into building a business. |
| 0:02.6 | So what would you say to someone that wants to go from, you know, |
| 0:06.2 | being a solo entrepreneur to building a small team? |
| 0:10.1 | Like, how do they start? |
| 0:11.1 | Yeah, and I think it's not to take it too far down a rabbit hole but it's we had conversation earlier about this already is identifying why we're doing this in the first place. Okay. So we always start with let's look at the the resource side of this and determine what are we doing here in the first place |
| 0:24.9 | What's the time what's the money what's the people every business has to start with |
| 0:29.2 | When we're gonna pull the plug that this is not a good idea or this is a good idea we should keep going with it. |
| 0:35.2 | And so for every business owner, even if you're in the entrepreneurial stage is to stop first |
| 0:39.7 | and foremost and realize, is this a good idea or am I just romantic about this idea? |
| 0:45.6 | I like it I think it would be neat to do versus this being a viable company. |
| 0:50.3 | So if we can identify that first and foremost, I always give the same test, which is tell me how long. |
| 0:54.7 | So we're going to do this for a year. |
| 0:56.5 | I'm going to put in $20,000 and I'm the only resource. |
| 1:00.6 | I'm not going to go hire anybody. |
| 1:02.4 | And so after time money resources if you |
| 1:04.3 | can't get it off the ground, I refer to it as we're going to old Yeller the business. |
| 1:09.2 | In other words, we're going to take the business out back and we're going to shoot it. |
| 1:12.0 | We're not going to run a business that doesn't make money. |
| 1:14.2 | So we have to have that kind of discipline because if you treat it like, people will see this all the time, |
| 1:19.7 | you know, my business is like my third child, right? |
| 1:22.0 | Yeah, if you treat it that way, then you won't make good decisions with it. |
| 1:26.6 | You'll make decisions that you become too emotionally attached to versus principled business decisions. |
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