How to Really Get Results in Business
Have you started a business with an idea, team, investors and prototyping?
Did it end up being mostly talking and testing, instead of real-world results you actually care about?
I talk to many business owners with the same story:
1. They got an idea
2. They got some funding
3. They got a team together
4. They started testing and building on a small scale
5. The project needed more money, time and expertise
6 months later, everyone involved quit because stuff just didn’t seem to work out.
Afterward, the entrepreneur had to get a normal job (usually tech, sales or agency project management) for 1-3 years. They concluded that “business is too risky or painful”.
Others concluded at the age of 32 that they’re over the hill and should settle down.
All they wanted was freedom from employers, and freedom from strict financial constraints…
There’s only so much you can achieve in life with a $2000-5000 salary.
Does any of this sound familiar?
FYI: “It’s OKAY I learned a lot” is not an end-result of doing business. Revenue and profit are actual results.
Here’s how to proceed if the story above sounds accurate and you want to do things in a better way, that actually works to get RESULTS in business:
STEP 1: Forget high-risk business models and ideas. Start on a proven working business model instead.
You don’t need to take half a year to test stuff that doesn’t work. You can get into business by starting something that has already been proven and tested for you to a large degree.
STEP 2: Talk to a business owner every 3 days who is already running the type of business you’re looking to start. Get constant feedback is required to stay on course with your business.
STEP 3: Spend 4-10 hours per day (depending on whether you have a full-time job or not) on your business.
STEP 4: Get 2-3 sales and quit your job or other obligations.
STEP 5: Scale.
These steps remove most of the risk and time investment required to try a new business. Instead, you’re spending your time learning effective skills and getting clients.
90%+ of what you invest in business, is only needed as an investment AFTER you get clients who pay upfront. That means your risk is lowered.
My data shows an 85% success rate with this process VS an 85% failure rate with the traditional, old process.
Here’s where things get interesting: we’re running a program where we baby-step new entrepreneurs through this process. We’ll be announcing spots in the program soon.
– Aleksander Vitkin