The 6 Step Checklist To Start Your First Business

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1:07So let's get into them. Personality. Basically, you need to understand yourself. You're going to be more energized if you're around people that are like you and match your personality to what you do. Some examples for an introvert, for example, maybe you're an introvert, is perhaps closed circuit communities, copywriting. Stuff that feels like you're part of a team, you're not on your own doing it, but you're not obliged to be with people. And then extroverts, of course, sales is an example. Although introverts, you can also sell. Everybody can sell. It's just using different tools for different things.

1:35I think with extroverts, it's probably more out there in the field, speaking on stage, being on camera, those sorts of things. But if you're an introvert, you can do videos, for example, that don't show your face, that maybe are voiceovers. So you've got to figure out what is good for your personality and figure out how you're going to be able to apply your personality to a particular thing and not feel uncomfortable being able to follow through and make it work. Next up, hobbies and passions. a lot of people disagree with me with this but the people that disagree on this have an unhappy working life they don't enjoy what they do they might make money but they're not happy and I do think in life it's more important to enjoy what you do how you make your money matters more than how much money you make but I also feel that the people that really excel in business and in life follow their hobbies and passions so what is it you like to do now you might like to dog walk You might like to fly fish.

2:25How can you make money around this is really what you need to start thinking about. So if you can figure out what your hobbies and passions are, probably your whole life, someone's told you you can't make money in it. So if you like going to the gym, someone's going to say you can't make money out of that. That is not true. You can. You just need to think of the business model, which we can cover in a minute when we go through some of the other things. But if you're passionate about something, that's probably more related to like pain, some problem you want to solve in the world. But if you haven't got pain to find your purpose, you can use hobbies.

2:53Literally something you'd do even if someone wasn't paying you. Because if you can feel this way about something, you end up getting good at it. You can be persistent. You can follow through. You can get yourself out of bed in the morning early because you're excited about doing it. Guys, I'm trying to grow this channel. If you get any value from it, please subscribe. And please ask other people to subscribe so they can get the business knowledge that school never gave you. Next up, time. It's really important you understand time. To me, time is a bit like financial literacy. You've got to understand the value of money.

3:22you've got to understand the value of your time. If you're selling time because you've got a car on finance, work out how much money you need to make after tax to pay for that car. And you'll soon discover that you're spending 20 hours a month working for a car company and 50 hours a month working for your landlord or some mortgage asshole. So please learn to own your time. Learn to figure out how valuable time is. And don't charge by time, charge by outcomes. And also manage your time. Again, everybody's trying to get a bit of your time, getting you to watch Netflix, getting you to take time out to do something that's going to make their money, like watch football.

3:58You need to learn to control time. There's seven days in a week and you have 18 hours a day to do what you need to do if you learn to own time. Of course, you need to sleep. Please sleep. Please exercise. But you can exercise and reply to emails. You can double up on time. Most people think you can only do one thing at once. It's not true. It's in your subconscious. It's a lie. learn to double up your time and do more than one thing at once to get more time in a day. Money. They deliberately don't teach you this at school. They don't want you to know how money works. Money, like time, is a compound mechanism.

4:33How do you start a business with no money? Well, first of all, you learn to leverage your time. When you're young and you're living at home, leverage it now while you can. If you get older and you've got your time taken up, it means you don't have time to make money outside of your work. That's why you have to do a side hustle as soon as you can. Money is easy to make the more things you give yourself time to do. It's that simple. And then you can apply yourself to YouTube, for example. I made a video a year ago that helped you a year ago. They're still making money every single month today. Learn to make money when you're sleeping by investing time in things that make you money forever.

5:09Now, content is an obvious example, but honestly, there's so many other ways you can do this. So for example, if you learn copywriting and you do a post for someone, let's say they pay you to do a post, don't take a fee. Don't take a flat fee. Take a percentage of whatever that generates. So if you're selling someone else's product and you're doing copywriting, don't just take the fee. Take whatever you have managed to generate from that work. Don't sell time and think about money as a scalable thing without time involved in the income you make. Before we get into point five, I reached out to my friend, Lior, the founder of Build Your Store AI to ask him if he'd sponsor this video because honestly, it's the perfect example of what I'm talking about.

5:48Remember when I said you need to invest time in the things that make you money forever? Well, Build Your Store uses AI to build you a complete Shopify store in under two minutes. But here's why this is brilliant for everything we've been discussing here. First, it's free. So you're not using that precious money we've been saving or spending 50 hours working for some landlord to pay for it. Second, once your store is up, it can make sales 24-7. You can literally be sleeping at the gym or working on your next project while orders are coming in. The AI picks winning products for you, creates optimized pages that actually convert, and sets everything up so you can start selling immediately.

6:29No coding, no design skills, no massive time investment. Think about it. Instead of charging someone a flat fee for your time, you're building an asset. Every product you add, every customer you gain, it's all building something that pays you again and again. That's exactly the kind of scalable income we need to be creating. I made a video a year ago and people are still watching it, still making me money that I can use for dreamers. Your store can work the same way. Set it up once, optimize it over time, and it keeps generating income. Click the link down below to get your free AI built store from Build Your Store in less than the time it takes to make a cup of tea.

7:10You could have your first online business ready to go. People, you cannot make it on your own. It's impossible. If you think you're meant to do this all on your own, you're going to lose. Everybody else is doing it in teams. Everybody who's succeeding 100 % is doing it in teams. You have to learn to collaborate. You have to learn to find a co-founder to work alongside your tribe. If you try to do it on your own, you will fail. Very few people can do it on their own. I've not met anybody, actually, who's done it on their own. Self-made millionaires, they're lying. It sounds good in their bio. It's not possible.

7:45So learn to collaborate. Learn to find your tribe. Learn to communicate with that tribe. And don't be greedy. Share the success. Don't do 51%, 49 % for a partner. Do 50-50. Get your family and friends behind you. If your friends can't support you, you're going to fail. You have to have people who are not calling you and saying, you changed, where are you? You're supposed to be here. When you're trying to build your dream, you need people behind you. You need to make sure that people around you are going to help make it happen. Number six is growth opportunity. The only way you don't end up working for yourself, but somehow still acting like you're working for someone else is if you can not only bring people in, understand how time works, have passion to follow through, but understand a growth mindset.

8:28There's a couple of ways you can think about this. Like I mentioned earlier with people, you really do need other people to help you make it work. One plus one equals 11. However, there are things you can do to have growth that don't necessarily initially involve people. Again, YouTube's a good example. You can make a YouTube video like this and then put an ad in there or sell product through the video itself. So the video makes money, you get an ad that makes money, and then you're selling merchandise that makes money. So how can you build on top of your one, say, workload, making a YouTube video, to make several growth opportunities for your business?

9:00The other thing I'll say is make sure as you're building your dream that you have multiple ways of that dream becoming a reality. So I can give an example of what I'm doing. We've got helpbank.com. This is a LinkedIn competitor where you can go and help people help people. But we also got a brand called Dream Brew that we're launching where we sell products and the profit from that product will go to fund helping people with their dreams, building helpbank.com. We also have an agency where we actually build content out and make money from our content. So we have multiple revenue streams for the same dream.

9:30You can't rely on one income stream or one channel or one person. You've got to put it all up to ensure a growth opportunity. I'm off to have some chicken now. Dave Bortna here. Something big is coming. September 2nd, DraftKings Game Day. We're talking massive deals, exclusive offers, and an all-day celebration built for sports fans. Whatever you're betting, DraftKings Game Day has deals dropping all day long. One app, every sport. So mark the date. September 2nd, new season, new era. DraftKings Game Day. Get pumped. New DraftKings customers. Sign up with code SPOTIFY. Spend$5 to get$200 in bonus bets within 21 days.

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