I was recently speaking with a friend of mine who is in the process of starting a business. I was answering some of his questions when I realized how daunting it can be to start a business if you haven’t done it before. And how simple it seems after you’ve done it.
Unfortunately, our entire educational system is designed by and staffed by employees. There’s [substantially] no free market competition in the world of education and thus, no teaching of entrepreneurship.
And so, I believe we need a “beginners business” curriculum. Today’s show is my first attempt to fill that void.
The basic first steps of starting a business have almost nothing to do with financial or legal stuff and everything to do with making sales.
- Write out, on paper, what you propose to do and for whom.
- Write out, on paper, how you propose to reach those people.
- Start reaching out to them and sell, sell, sell!
- Open a business checking account. (And maybe a business credit card.)
- Keep a business journal.
- Go make some money.
- After making money, then adjust and re-orient and start working on accounting systems, entity selection, etc.