How to Start a Business - 3 Tips to Get Unstuck & Quit Dreaming

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Video Transcription:

Rob  here from your Feedbackwrench. I'm on vacation out here in Duluth. I've got sunblock all over my face. I don't look very good anyways. But right now I want to talk a little bit about if you're looking to start your own business, if you're somebody who wants to get your own hustle, go and get your own business going. I'll tell you what, I've got three things that you've got to do. And this is meant for people that are kind of stuck on the cusp, they want to do something, but they're just not sure exactly how to get going. You know, I've got all this content about these CPAs, how to start a bookkeeping, outsourced accounting firm, and people are like, "How do I do it? How do I get going?" This is it.

Now, first of all, before I get into these three practical steps to start your own business, I want you to know that this isn't just for ... This isn't just for financial services companies, bookkeepers, accountants, and whatnot. This is for any type of business. I'm telling you, whether you're doing a construction business, lawn care service, I don't really care what it is. This is how you get it going. Now, first of all, before I get into these three, they're going to be really practical, I'm telling you, these are going to be good.

You can't just start your own business just because you don't want to have a boss.

If your whole desire and your whole reason why you want to start your own gig is because you think that you're going to have a much easier time, that's false. Right now I'm on vacation, but guess what? When my phone rings and my employees aren't doing the right thing, it all falls on me. So in one way I can be traveling, I can do these great things, and I get the opportunity to have my own business, making great money. Things are good. That being said, it's hard. The buck stops with you. So if you think for one minute that the reason why you want to start your own business is because you don't want to have a boss, you've got to remember that every customer is your own boss, but it's still definitely worth it.

The other thing is, a lot of people want to start their own business because, "Oh man, I'm tired of working for idiots. I want to do my own thing. Everybody that I work for doesn't do it right. The people above me are bad." And a lot of times there's this underlying character issue that you have. Move forward, take action, get things done, but you're going to have to address these character issues, these flaws in you, that if you can't execute and if you can't work well with people, and it's based in a character flaw because you're not humble, you're not grateful, you're not slow to anger, you get irritable, that's not going to work, dude. You can't start a business based on that, man. Or you can start a business, but you can't move forward without addressing those things. So before I talk about these three practical steps, those are the first two things. That if you just want to get rich and you don't want to have a boss and that's your underlying reason why you want to get going, those can help, but they're not going to get you there. Because ultimately the costs are often deeper than what those benefits can be until you get to a certain point.

Now, here's the three things you've got to do. First of all, I want you to get perspective. Step one ... I've got tons of sunblock on here. Step one is get perspective. Go out, find two or three peers, find people that are business owners, that are entrepreneurs that you know, and either ... Now, it's COVID time, right? Look at this, this is gorgeous out here. It's COVID time. So here's what I want you to do. Go ask people if you can have a phone call with them. So number one, get perspective. I want you to find three or four different people. They could be business owners that have done it themselves, that have been there already, or somebody who might be a potential customer. And I want you to ask them, "Hey, I've got this idea that I want to start a business. This is the kind of business that I think I want to start. Would you help me understand what kind of advice you would have for somebody like me if you were doing this now?"

Or, "Hey Joe, you started your own lawn care business. I'm thinking about starting a bookkeeping business. If you were me and you were going to use a service like mine, what would you want it to have? What would be three things that you've learned from working with your current CPA or your current accountant?" If you're getting into remodeling and landscaping, go find a couple remodelers or landscapers and just say, "Hey, I was wondering if I could have a 20-minute phone call. I just want to ask you what you've learned. If you could start over again, what would you do differently? What are your three things that you've learned? What are some things that you've learned the hard way?" And get perspective. Perspective is wisdom. And I think ultimately God's wisdom in the Proverbs and God's wisdom in life, to love others as yourself, to put others' needs in front of your own, to die to your own needs, are the type of wisdom that help you win in life.

But in business, if you could put yourself in the shoes of other people so that you're learning from their mistakes, you're learning from their successes, you're going to ... And that's what reading books is, right? You're getting their perspective. Those will help you a ton. So the number one, get perspective, but get coffee meetings. I would say coffee, but it's COVID time, so get some phone calls. And shut up and listen. Don't tell them why you think your business is great. Don't try and sell them. Don't try and pitch them. It could be people who have been there before. "What have you done? What did you learn? What are the three things you've learned? What were the hardest steps? What's the most priceless tuition?" Ask them, "Hey, if you were to go back in time to when you started, what advice would you give yourself when you started?" Get that kind of perspective. Because that's stinking gold. So number one, get perspective.

Number two, start planning. You need to get Word documents, get a Google doc open, and start planning your name, your services, how much it would cost, what your scope of work would be, what your mission, your purpose, your values would be as you operate as a company. Start writing it down like it's a piece of homework, like you're in college and you've been assigned this idea of creating a pretend company. If you do that, I'm telling you, all of a sudden what is just an idea starts to become real. And when you do that, start thinking about your value proposition. So what's the problem, solution, and results? So what's the problem that people have, what's the solution, and what's the result that you're shooting for?

And if you don't know what this is, go back to get perspective. Find some people that would be the types of people that would be your customer and just say, "You know what? I've got a question. What would be the most valuable thing for you as you choose this solution?" You're a custom home builder, find some people who've bought a custom home. Just give them a phone call and ask them something. And be super quick, but get that perspective and start dialing in and planning.

So number one, get perspective. Number two, start planning. Write out, go on Fiverr, hire somebody on Fiverr to create a basic local, get your colors in, get your purpose, your name, get everything down, and then start opening them up on the web. We can help you with your website, we do basic websites for people. But start taking your plans and writing them down. Get a sheet that's like your business plan. Imagine you're going to hand it in as a piece of homework to somebody, to a professor. And if you do that, I'm telling you, man, all of a sudden things start getting real. Because here's one of the principles when it comes to entrepreneurship, is it's lots of small steps because small steps create movement, and movement creates momentum, and momentum is what gets you through things. So you've got to create momentum in your life. You've got to get this going.

You should see these tractors over here. It's pretty cool. They're building out the berm. It's just awesome, we've been watching them. So number two, make a plan, start writing it down. And as you write it down, try to get it on paper, create it into a website, open up your Google My Business and your website. Those are the two things. But name, services, scope of work, your value proposition. Think problem, solution, result. What would you charge? And don't worry so much about what would you charge, but get that on paper.

Now number three, start your hustle. Like I said, movement creates momentum. Go out and give your thing away for free or cheap. Go out and get some reps under your belt. Actually do something. Don't sit there and figure out, "How do I charge big money? How do I get big retainers? How do I get big jobs?" Go out and side hustle, go out on Upwork and start, go up on Fiverr and start, go out and get some reps under your belt and execute. Because all of entrepreneurship starts with building credibility. So the idea here is, just go find some people to do anything for that's in the realm of what you want to start, and start getting some perspective. Because I'll tell you what, when I go back to number one, that perspective you're going to gain, you know what really builds perspective, the most perspective I've ever gotten? Comes from doing.

Perspective from other people is what started both of my businesses, but actually doing it is going to teach you so much. But getting your hustle on and trying, this is what you've got to do. Go out in front of people. Tell them what you do. Find out if you can help them. It's prospecting. One of the top things about entrepreneurship is, people don't understand it is 85% sales. Because entrepreneurship comes down to two things, sales and execution. You've got to find people that have a problem that you can take their money to solve, and then you have to do what it is that you said you're going to do. Eventually it becomes about processes and sales and continuous improvement and client satisfaction and all that.

But in the most basic, it's get sales and execute in a way that people go, "Ah, that was worth it." So if you do those three things, get perspective, go get some coffee meetings today. If you get five to 10 coffee meetings this week, this month, and if they're not coffee, just a phone call, a virtual call. "Hey, I just wanted to ask you one question. Would you help me understand? I'm naive enough to start my business." And they will help you, and you will be so much better off if you actually do that. I'm telling you, you will be massively improved if you can get two to five meetings in this month. You will be so set.

Number two, start writing it down, make a plan. And number three, then start executing. Do something, get meetings, go call people, go get in front of people, go to a B&I networking meeting and find some people. Go get in front of people, share what you want to do, and see, "Hey, I'm just getting started. Do you think there's any way I could do this for inexpensive of for free? What if I were to help you, because I've just got to get some experience?" Doggone movement creates momentum, and that will help you. So I'm Rob at Feedbackwrenc. If you like entrepreneurship, smash the like button, all that corny stuff. But otherwise, here's Duluth, here's Lake Superior. It's gorgeous out. I've got all my kids here, we're having a good old time.

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