Don’t get into the business when you are desperate for money.
One day I got a message saying, “Dev, I really want to make money, if I don’t then I have to shut my business. I started my coaching business 6 months back and now I am not able to pay bills. I am desperately looking for your help to make money in the next few weeks”
What do you think would have happened to that person?
Yes, you are right, he would have gone broke and found a job. Never get into the business when you are desperately in need of money. Why? – Because needy is creepy and you are most powerful when you do not need anything from anyone!
The moment you sound desperate on your closing calls or meetings you lose the deal immediately.
There was a time when in my business I desperately needed clients and I realized that more I could suppress my desperation and only focus on giving value to others without any expectation, more money came my way!
Don’t get into business ONLY for money:
Before you argue and say – “But, money is what we want when we start a business, ins’t it?
Yes, true but if money is the only focus then you will lose the core thing that helps you to make money, that is – serving more people.
It is a no brainer – More people you serve, more money you make, Right?
People also tell me that I talk a lot about making Rs. 1 crore in 20 months but a few people understand that I never focused only on money, in fact, I never focused on money. I only focused on how to impact millions of people and money came running towards me.
Money is a byproduct of the value that you create in the marketplace.
Am I saying that Money is not important?
The answer is – No!
Money is important but don’t just focus on money!
Don’t get into business just to escape 9to5 because you hate your job:
We already spoke about this earlier. Find what you love and follow it. Don’t escape or hate the job but leave the job because you love something else more than the job!
Don’t get into a business if you lack the courage to face tough times:
You will have tough times where you will feel lost, feel desperate, feel alone, feel that you are not worth it, feel like giving up but if you have the courage to face the tough times then entrepreneurship is for you!
Don’t get into business because others want you to:
This is exactly the Vo Mindset. We try to copy what others are doing and later realize that it is not fun so we give up easily.
Don’t get into business by copying others. Their success doesn’t mean you too will succeed in that business. Focus on what you love and find ways to make money out of it.
Don’t get into business without a proof of concept:
I Remember my first POC – the call by Pradeep ji from Nigeria who agreed to pay Rs.3500 for one coaching session.
I remember the sales training program I built at the beginning of my career where I got 4 people paying me Rs. 40k each to learn sales for 12 sessions.
That was my validation that I have something that people are willing to pay for.
Find a way to validate that people are ready to invest in what you have to offer before you go full time in business!
Don’t get into business by building a product without testing it first to see if it solves a real-life problem:
You need to either entertain, educate, or make people feel good with whatever you have to offer. In other words, solve the problem.
As you know, most of the people start by building a product and then look to see what problems it solves, no wonder why 90% of them fail in the first 5 years.
Don’t get into business because you think Entrepreneurship is cool:
In one of the coaching call, I asked the person – “So what are you passionate about?”
He replied – “I am passionate about becoming an Entrepreneur”
This is not how you get into the business. Get into business to solve a problem and you will automatically become an Entrepreneur. Don’t love entrepreneurship but love what you can do for others.
Be passionate about solving a problem!
Don’t get into business to become your own employee as a self-employed entrepreneur forever:
What if you make lots of money but have no time?
What if you just work, work and work to become rich and lose your health?
Entrepreneurship is meant to give you time freedom but very few people embrace the actual entrepreneurship and rest become self-employed entrepreneurs.
Find a way to automate your business using the system, people and processes.
Don’t get into business with the mind only. Start with heart and then add mind into business:
Majority of people make this mistake when they start their business. They get into it thinking it is a good business idea but in reality, they do not care much about solving a problem or adding value to other people. In other words, they are operating like Vo, using mind only and not adding a heart.
Don’t get into business if you are not passionate about solving a particular problem:
If you see, most of the inventions that have happened it is because someone cared about solving a certain problem. Why? – Because he or she faced it or someone closed to him/her faced the same problem.
If that is the base of your business then you will never fail in business.
You would still fail if you start with solving a problem but then later your just become money-centric person and forgets about the problem and why you even started this business.
Example – SouthWest Airlines in the U.S wanted to solve a problem for people who want to fly at the least cost and not looking for a luxury experience. They are true to the problem they want to solve and hence very successful. But if they start serving food on the flights for free to enhance the experience then the cost will go up and they will start deviating from the “Why”. Soon they will go out of business as they will compete with others!
Don’t get into business if you are looking for quick results:
Patience and persistence are one of the most important skills to have in business. Most of the people are over-optimistic when they start their business and think that their idea will become viral and they will become rich and famous. When the reality kicks in and they don’t see the results in a few months they get disappointed.
The disappointment soon converts into a weak self-image as they start to doubt their own potential.
Before you realize, they quit their business and start working for someone who had patience and had set long term vision to fulfil their dreams!
I will cover all this and more in my upcoming book – 6-Sundays-a-Week Life!
If you are looking to learn how to have bulletproof business strategies to start your business then contact my team and attend our future workshops.
WhatsApp us at +91 9819526252.