You have a brilliant concept but don’t know how or where to begin?
Start by devoting just 60 minutes daily and within
30 days you’ll have made a sale. Mark my words!
In any business, you need to spend money to make money. But what happens if you’re only spending without raking in the sales? The first rule for a profitable business is to know your customers well. Sadly, most entrepreneurs overlook this important aspect.
Globally, businesses lose as much as $75 billion due to poor customer experience.
So, start by convincing your customer about the credibility of your product or service. Get to know what they need. Tailor your service to appeal to your customers. Focus on generating value for them. And, the sales will follow!
If you ever feel frustrated that you are not generating enough sales fast enough and burning through cash without seeing results, you are probably right. This is happening because you do not know enough about your product and the problem you are solving for your audience. As soon as you are focused more on the result rather than the journey of you creating the best business you can make, you are going to fail financially.
Focusing on too many different aspects of starting a business during the startup phases of your business can destroy your focus and your idea will never become a business. In order to start getting the results you want you need to:
According to the US Bureau of Labor Statistics, about 20% of small businesses fail within the first year.
According to Small Business Trends, only 2 in 5 startups turn profitable. Other startups either break even (1 in 3) or continue to lose money (1 in 3). 21.5% of startups fail within the very first year. In 2019 alone, startup failure rates were at 90%. So, if you’ve still got your sights set on being an entrepreneur you need to go in knowing the risks and the potential reasons why you could fail.
#1 Lack of Planning - Every business needs a business plan that accounts for short-term and long-term goals. Investing indiscriminately without keeping track of where you’re headed is where most businesses fail.
#2 Not Researching Consumer Behavior - Consumers always seek value and when you do not understand their pain point or create a product or service that does not meet their requirement you’re headed for failure.
#3 Product Mismanagement - Bad inventory management, below par product quality, and inefficient delivery are only a few outcomes of product mismanagement. And it can cost you a lot of money. You’ll burn through your investment and your business will fail.
#4 Inability to Sustain the Business - Initial success does not guarantee continued success. You may face problems with supply or have a competitor offer similar products at lower prices. So, be prepared for change.
Pro Tip: While you might feel tempted to do all you can in your first venture, do not bite more than you can chew. Instead, focus on steady growth. Generate your first sales before proceeding to the next level.
Prevent Your Business from Going Bankrupt
It’s All in Your Hands
Running a business is not a linear process. Be prepared for ups and downs. In fact, the more you fail, the more you learn. So, take your failures in stride and keep moving on. Always assess yourself and learn from your mistakes. While you do, keep in mind the three golden rules of making your business successful.
Know Your Product and its USPs
Skilled & Sharp Team
Choose People Who Compliment Your Skills
Expect the Best but Prepare for the Worst
Aspiring to be a Serial Entrepreneur?
Then You Need to Learn How to Start Businesses Easily
I have spent a fair number of years working closely with Fortune 500 companies. One key observation that I would like to share with you is that no matter how much I teach, you should know how, when, and where to apply my teachings.
As a 3 times Amazon Bestselling Author, I can help you self-publish your first or next bestselling book
As the host of 2 highly ranked podcasts, I can guide you to start your own podcast in 30 days and get your initial audience.
Be Adaptable. Be Versatile
No two industries are the same. Therefore, there is no one-size-fits-all approach that can help you run your business. Instead, respond to any challenges by applying what you’ve learned along the way.
Map Short Term Goals
Take one day at a time. Divide long-term plans into short-term goals. That way, you get actionable insights into the kind of progress you’re making, and you’ll be successful in building a strong foundation to support your future growth.
Constantly Evaluate Yourself
As your business grows, your responsibilities will multiply. Therefore, getting your basics right will help you avoid errors that cost you time, effort, and money.
“Without a plan, even the most brilliant business can get lost. You need to have goals, create milestones, and have a strategy in place to set yourself up for success.”
Yogi Berra - New York Yankees
Change Your Vision, Redefine Your Strategy
Many entrepreneurs have successfully turned their businesses around by applying the takeaways from my courses. They were willing to learn, apply, and adapt. And, if they can, you can too. So, take advantage of this one-time opportunity to make your business a resounding success.
What People Are Saying About The 60 Minute Startup
"The key point of The 60 Minute Startup is to focus on paying customers and stop wasting time on all unnecessary things. Take what works with The Agile methodology and apply to starting businesses "
Other People Audience (OPA) strategy got me $9,400 worth of business in 60 minutes.
"Just because you like writing, you won't be profitable. To be a profitable writer, you need to focus on a niche. The 60 Minute Startup will give you a framework to find your niche even if you are not sure what that is. "
Matching what you know with what customers will pay for
"The 60 Minute Startup is about rapid prototyping and about very practical results. It is based on real results from real entrepreneurs and their learnings. It is about pivoting and course-correcting. The 60 Minute Startup gives confidence to jump in."
It is not about failing but learning from each failure.
"Started a digital marketing agency with $50 and got first paying customers in 2 weeks. Then reinvested that money . Built the company in a conservative manner.. Being agile allows us to take less risk while building the business."
I am a big believer in the agile entrepreneurship model
"Don't wait to start your business. Of course, you'll face obstacles. The 60 Minute Startup's agile entrepreneurship teaches you to go around those obstacles. Be dedicated. Be flexible.. Adapt to the environment."
You can always find ways around obstacles. But don't stop. Keep going.
"Don't waste time doing all the things that may not get you the paying customers. Evaluate the marketing strategies that work best for YOUR business. The 60 Minute Startup is all about the focus on paying customers."
Make everything else secondary to launching your business and getting paying customers.
Here we have a highly attractive purchase section. We display another paragraph of text, which is a strong call to action to your readers. In addition, we have a product image, unmissable large button and some guarantee and safety symbols.
100% Satisfaction Guaranteed
After training as an engineer, I began my corporate career, but it did not take long to realize it wasn’t my true calling. So I got myself an MBA degree and decided to follow my entrepreneurial dream. I started my first venture - a tutoring business that tanked. But I did not give up. I persevered, and today I am the Managing Partner at the highly successful Digital Transformation Pro - a management consulting firm.
In this extremely competitive space, everyone needs an assuring voice, someone to turn to for advice. And a successful serial entrepreneur, I was inspired to share my learnings with aspiring entrepreneurs. What could be better than slipping into those shoes! It was my way of giving back to the industry that gave me so much.
A successful podcast and a series of best-selling books later, here I am. I will continue helping small businesses become successful because this is where my passion lies. I hope you’ll let me help you in your journey.
"I adore the simplicity in The 60-Minute Start-Up. If you really want to start a successful business and you can follow instructions, this book is for you. It really is designed to be easy to follow, and to lead to paying customers in 30 days.
When you have paying customers, you have a business. Otherwise, it's a hobby."
- Entrepreneur | Speaker | Podcast Host | New York, NY USA
Have you ever had a book jump off the desk, put on it's running shoes, grab you by the arm and drag you along into its world? This one does that and at a frenetic pace too.
I worked with the agile methodology when I was still in that corporate world, and there were some things I didn't understand till I read this book. It is amazing.
I also love the way he started each chapter with an actual case study a name and what this person did or didn't do that illustrates the point of the following chapter. I couldn't wait to turn the page to see what the story was going to be this time.
If this does not change the way you view your life and your work, then I'm not sure where that leaves you.
This is an exciting book.
C. T. Rochford
"When reading this book you may be inspired, but more importantly, you will have the steps to starting your business.
I appreciated all the examples of business startups, but the the steps were laid out for me to follow.
You just need to pick the example that fits your situation.
I read the book and then went back to review the sections that aligned with what I felt, my plans,
and the business I wanted to be in. Thanks to the author for articulating the details so well."
Access to creating Smart Goals
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