Just Get Started
If you are looking to start a business there is no better time to start than today
🚀 What’s happening: According to a new study by GoBanking Rates, nearly half of all Americans have considered starting a business. The reasons vary from those looking to make it big, or others who are just looking for a way to earn some extra income.
As we almost approach our one year anniversary since launching our media company Future Funders and our flagship newsletter, Dinner Table Discussions, here are a few tips on how to get started:
Solve a problem.
If you’re asking yourself, where do I start? We say, start with what you know. For us, our founder has extensive knowledge of the financial industry having worked at prominent banks and hedge funds for over the last 15 years. So teaching and making complex topics ‘not so complicated’ comes easy. And we just so happen to also be (very tired) parents to young children.
But what really started us down this road were the countless financial questions from our friends and family (also very tired parents of young children), and the realization that parenthood is the time where people really start paying attention to their finances… but who is breaking down all of the mumbo jumbo coming from mainstream financial news sources for what is actually important?
There we had an idea that was born out of necessity. A problem to solve. And the cherry on top? We really love doing it.
If you want to get started but don’t know how, what worked for us was just writing down everything we thought we were good at AND enjoyed doing, and what problem we could solve by doing it. Then brainstorm with people that you know and trust. Once you have that list, ask yourself… would people pay me money to solve this problem?
Work with what you have.
There will always be a tradeoff when it comes to “sweat equity” (your own unpaid time and effort) and money invested in outsourcing.
What we mean by that is you need to realize where your strengths are and use what you have. If you don’t have a lot of start up funds, you will likely need to spend more “sweat equity” and use your own effort and creativity to grow.
If you have some funding, you may be able to delegate and have others help with the caveat that you will instead be managing people while learning how to allocate your time efficiently.
Focus on one thing.
As the saying goes, “Most people overestimate what they can do in one year and underestimate what they can do in 10 years,” which is something that perfectly applies to anyone starting a business.
If you focus on one thing and learn the industry as best as you can, your only variable to success is time. Just focus on continuing to solve one small problem after the next, and it’s incredible what you can accomplish. In our case, while there is still no telling where this company goes, in less than a year we have grown to over 50,000 loyal subscribers (our goal was 5,000-10,000).
You can do it too.
👪 Closer to home: Starting a business is hard and there is obviously no guarantee of success. But if it’s something that you want to do or think that it might be for you, don’t let anyone stop you. We wouldn’t be here without our readers, so hopefully this small insight can help to return the favor.
Lastly, if you still aren’t sure where to start, we have a couple resources we hope can help.
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