We all know reading is good. But it doesn’t mean much if your goal is just to finish the book, or claim that you read 200 books a year. Which may sound you have put your time to good use, but it is all worthless if you never apply what you’ve learned from the books.
I’m not an avid reader but I’m on my way trying to be one. Often I found that most of the books I’ve read didn’t leave many impressions unless some quotes are so interesting that I noted it down and deliberated it for some time. And when I reread some of the books I discover some noteworthy points to ask myself that why I don’t have the memory of it at all after the first read?
From now on I will start to write a simple review of every book I’ve completed. This can help me to summarize the contents better, make sure I don’t miss any highlight-worthy points and have a better memory of it hence higher chance to take it into the application. To the others, this might gave them a brief idea what this book is about which they might eventually become a reader of it, or they can just share the information without having to go through the whole book.
You dont need a new and special idea to earn a million
Plenty of everyday businesses, run by everyday, ordinary people, make extraordinary money.
This is the primary idea of this book. All you need is a tried and true business model that already existed. Truth is there is always unconsumed demands in the market of the “traditional” business like car washing and cake making. Pick an ordinary idea and truly execute it with proper planning. Any average Joe can make his first million in 3 to 7 years.
When it comes to working for yourselves, there are several businesses you can pick from. Buying existing business, buying a franchise, even joining a Multi-Level Marketing, the author recommends none of the those but creating your own company.
The author also comparing the online business and traditional business. While the latter is preferable for first time entrepreneur, being digitally savvy is a huge competitive advantage. Start a real business and use the web a tool in your toolkit.
You dont need money–you can be completely broke
If your goal is to get $1,000,000 in the bank, you don’t need to raise millions to start your business.
Raising fund is not a headache or myth if you know where to look for. Where the Money comes from:
- Getting a bank loan, mainstream way of raising money
- Crowdfunding, lesser risk and can be quick if your business idea is promising.
- Peer-to-peer lending (P2P), this can be useful to small and medium businesses that usually have difficulty securing a loan from a bank.
- Friends and family, with the already established trust they can be the easy target of your potential investor. But use with caution or this may destroy your network.
- Personal savings, easiest since you have to rely on the others however you will have to bear the full risks as well.
Or you can even spot the investors right in front of you. They are everywhere.
They sit beside you at the barbershop or beauty salon. They’re in the waiting room at the dentists;s office. They’re standing in line behind you at the bank.
The author has developed a habit that he can turn to anyone even in the elevator. For example, he once met a wealthy gentleman in the car wash waiting room and they exchanged contact information after some delightful chatting. This will not always work but if you are polite and decently confident, chances are you will turn the conversation into an investor willing to back your business idea.
Take the g*ddamn action
Creating a business requires a big picture perspective and a willingness to make a long-term investment of your time and resources. The biggest obstacle to success may just be getting started.
Did you ever imagine that you can quit your 9-5 job and commit fully to work for yourself? You had some great business idea that you think may potentially change your life and grant the lifestyle that is you dreaming for? Most people do, but the majority of them never take actions too. Thus your ship will never come in, you have to swim out to meet it.
In contrast, don’t get so fired up about your new business idea that you quit your day job so you can go full force with it. The wisest idea is to start the business in your off time while still holding your current job. Only to quit the job when the time comes, and quit in good term. You never know who might help you in the future.
This book civilize the unattainable entrepreneurship
There are much more solid words you can find in this book but I have to summarize only what matters to me the most or it will be too long for this post. Get the book if you are interested.
I appreciate the author present the idea that starting a successful business in such a real and authentic manner. He explained many real-life cases that even a undereducated person can run a business and pocket his first million within 10 years. Practical advises are given, solid guides are well presented. Get the book via link below if you appreciate the review.
Author: Michael L. F. Slavin
This page is synchronized from the post: ‘Make $1,000,000 with your own business even if you have no money or experience’