What are the first 5 steps to starting your own business or side hustle?
You could do what most people do when they start a business.
Write a business plan. Yes, get bogged down in the nasty details that really will not matter nor be read by anyone.
Go find funding — usually a loan.
Avoid these stupid steps for almost everyone.
Here is what to do instead.
The First 5 Steps to Starting Your Own Business or Side Hustle (Podcast Outline)
1. Find a problem to solve.
Make sure the problem is for real people.
- Helping people take care of their lawns.
- Pressure washing their drives.
- Reducing accidents in manufacturing plants by doing periodic safety assessments.
- Assisting online marketers to be more productive by being their virtual assistant.
Avoid things that are not real problems people have.
- Saving the environment.
2. Who is the customer who will pay?
A business or an individual. If you cannot figure this out – move on.
Sometimes these poorly defined ideas leave you looking for who your customer is.
- Services that help teachers teach in public schools -who buys. Teacher or school?
- Medical service to help patients – who pays? Doctor in office or each patient?
3. Create an offering and make it simple.
Example of a tree service company.
- Cut down – $500
- Cut down and Haul Off – $800
- Cut down, haul off, grind the stump – $1000
4. Find an inexpensive way to get your offering in front of your customers.
- Not cheap – inexpensive.
- Experiment with things quickly.
5. Offer your services repeatedly.
- Repeat what works, stop what does not.
- Decide how many times you need to repeat your offer. (Daily, weekly, monthly)
- When you think you are repeating too much – do more.
- It can take 15 or more times before they pay attention to you.
What are you waiting for?
If you want to shift the vector of your career…. and your life, this is the podcast for you. Dale has a way of combining positive and practical constructive criticism with motivation, encouragement, and how-to. Company of One flips the tables upside down and will give you a new perspective on self, life, and work. His angles may be unconventional but his results can’t be denied. Of course, I may have a bias considering I’m a student of his university executive master’s degree program. Since discovering Dale, my perspective on almost all things has changed and his advice is helping me discover the life I was meant to lead.
Subscribe & Review in iTunes
Are you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!
If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!