11/09/2022
WHAT BUSINESS CAN I START WITH 50K? WITH 100K? WITH 1MILLION?
Good morning my friends.
Today, I want to teach about this very very popular question that we see on social media always.
I am sure you have seen this question many, many times.
I am also sure that friends have asked you - What business should I do?
Here's my answer.
Let's first get this out of the way - No one, I repeat - No one, should truly tell another what business to do.
The only thing another person can do for you is to make suggestions of trending & profitable opportunities, risks, skills, people and other stuff that can help with your decision-making .
The job of settling down with one (or more) business ideas is truly yours and you cannot outsource it.
Decide today that you will take full ownership of figuring out what business to do and that you will do it by taking your mind through a thorough process using valid questions.
Here are some of the questions that you should ask yourself if you are truly unclear what business to do.
I suggest you take pen and paper, write the answers to these questions because you would need a deep-thinking-session alone.
1. How much do I have as I am now? That is - how much do I have without chasing any rich uncle or friends?
2. How much do I have access to? That is - If I knock on those very sure doors, how much will open unto me?
3. What are my skills? What comes very easily to me?
4. What mistakes did I make in the past businesses or opportunities that I must never make again?
5. What are the types of businesses that I must not do? based on my beliefs, my skills, my limited amount of money, my past mistakes, my partner's wishes and all that.
6. Am I a techy person? Like do i know how to do stuff on computer using various apps? Then can I explore any of the numerous options to make money online?
7. Without being ridiculous, how much money, in monthly income, will I consider adequate for a decent standard of living now? 300k monthly? 500k monthly? (Ofcourse, you can always grow this amount. This is only the starting point)
8. Based on the amount that I answered in 7 above, make a list of businesses I know that can give that amount of money
9. One of the hardest parts of business is finding customers. From the businesses I listed out in 8 above, which one do I think I have the skill to sell very well. What 5 to 10 ways can i actively sell it?
10. Is there anyone I know whose business model I really like? Can I start a similar version and model after that person? Do I have similar skills? Can I learn from the person either closely or from afar?
11. Who do I know that is very business-savvy and can spare about an hour to discuss everything I have written out here with me?
12. What more skills do I need to acquire to meet up with the current marketing and business trends?
DEAR FRIEND, TRUST ME, IF YOU ALLOW YOUR MIND TO ANSWER THESE QUESTIONS AND SIMILAR ONES LIKE THESE WHILE YOU WRITE THE ANSWERS, YOU WILL FIND A BUSINESS THAT TRULY FITS FOR YOU.
Can we think of more questions?
Please share the deep questions you asked yourself that helped you choose your current business idea.
We all would love to learn from you.
Let's go.
I love you!
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