How to start my first business?

Learn the skills necessary to build passive income

Master Investor
January 06, 2023

It’s an adventure

We build a business because of the challenge. A business is created to solve a problem in the world.

We build a business because it is exciting, it’s challenging, and it will require everything we got to make it successful.

The job number one of an entrepreneur is: to raise capital.

The skill number one of an entrepreneur is: to sell without selling using marketing and systems

Sometimes too start a business we need to incorporate ourselves into a sales position for a company, we first need to learn the skills that are necessary to start the business that we want to, not to build a career and find job security.

I recommend to take a sales position that can teach sales skills because I know that overcoming rejection will help in becoming an extraordinary entrepreneur. We want to learn to overcome personal fears and sales can make us better business people.

We can not buy wealth, we must earned wealth by understanding how to build and acquire sound assets that produce passive income today and tomorrow even during bad economies.

It can be a painful learning process, but one that sales has made me millions of dollars over the years. It is truly an investment when we work to learn wealthy people skills and not earn a check.

Keep your day job, and start a part-time business.

The biggest mistake people make is that they work too hard for money. Do not be slave to money, be the master.

Most people do not get ahead financially because when they need more money, they take on a part-time job. You still need to eat and put a roof over your head. The important move is that you start building passive income. If you really want to get ahead, you can keep your day job and start a part-time business. This is true for companies like Microsoft, Facebook, Amazon.com, and Dell Computers.

You are reading: How to start my first business?

Building your entrepreneurial spirit

Starting a business ignites the entrepreneurial spirit.

Most big businesses started as part-time ones, and that the problem with the world is not a lack of great ideas, but instead a lack of great businesspeople.

I encouraged all to start a business, any business, no matter whether you like the product or not. I am not concerned about whether you failed. I simply wanted you to start.

One of my favorite quotes from Albert Einstein is, “Great spirits have always encountered violent opposition from mediocre minds.” Start a business simply so you can challenge your mind and develop the entrepreneurial spirit.

Give it your all

The primary reason to start a part-time business should be to make you a great businessperson.

A lot of people have a goal of becoming an accredited investor, which takes $200,000 a year in earnings. To some people, that is a lot of money, but it is not a reason to start a business.

In all honesty, the risks in starting a business are too large for such a small amount of money. If you decide to start a business, don’t do it for pennies on the dollar. The risks are too high for a payoff so small. Do it for a much bigger payday. Why? Because building a business will demand everything you have to make it successful. You can make $200,000 as an employee with a lot less stress and risk. Building a business requires you to have a higher goal in mind.

For that reason, it’s best to start by building a great part-time business so that you can learn to become a great business owner with a big payoff.

What you’ll learn along the way

Starting a business at home part-time allows you to learn priceless business skills and subjects such as:

Communication skills
Leadership skills
Team-building skills
Tax law
Corporate law
Securities law

These cannot be learned in a weekend course or in a single book. They must be continually learned hands on. I continually learn them even to this day. The more I study them, the more my businesses improve. It is like always shaping the basics and fundamentals of anything. The more we practice the better we become and the more effortless we will make it seen.

By starting a part-time business, you become an insider. A whole new world with virtually unlimited financial opportunity becomes available. It’s truly a transformative and mindset-altering experience.

You are reading: How to start my first business?

Building a business is a life of love

That being said, while money is important, it’s not the primary motivating factor for building a business. I think the question, “Why would you start a business?” can be best answered by asking the same question in another way. “Why would you keep playing the game of golf?” The answer is found in the spirit of the game.

Today, I have friends who have sold their businesses for millions of dollars. Many of them take a few months off, and then they are right back in the game. It is the excitement, the challenge, the spirit, and the potential for big payoff at the end that keeps these entrepreneurs going.

Building a business is a life of love, powered by the entrepreneurial spirit.

The best part? Anyone can do it

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