When you understand the principles of investing and having ownership in something you believe in you may then ask, why don’t I take full ownership of a business built around what I'm most passionate about? The old saying "if you do what you love, you will never work a day in your life" is true as the choice in what we do makes a huge difference in our happiness and performance.
It may seem challenging to take your destiny in your own hands, however you are best placed to determine what you want from your future. The key to achieving all you desire is developing yourself and constantly learning as anything you build can only grow to the level of your development. Jim Rohn speaks on the importance of this here:
You may have an idea, dream, passion, hobby or interest that you’d like to turn into a career. It could be the solution to a problem or something that could improve the quality of life for you and those around you. The most important part is understanding why this is needed, and knowing your purpose as this is what will motivate you to stay on track, and reach your customers. Simon Sinek elaborates on this here and I highly recommend reading his book Start With Why in full:
Once you know why you are doing it, you can decide on how you will achieve the task at hand, leading to what the solution is. Whether it's an item or a service you must be able to explain to someone concisely why you are doing it, how you are doing it and what it is.
When it’s time to take your product to market this doesn't have to break the bank, ensure you have a budget and keep your expenditure within your means. This may mean using FREE marketing tools such as Facebook marketplace or WhatsApp catalogue to start gaining valuable feedback, and bringing in revenue to reinvest into more stock. As your returns grow use them to make further investments into your own website, advertisements, physical presence and so on. You also need to factor in operating costs such as business insurance and ensure you set funds aside for taxes. Take a look at the links below for some useful tips:
https://therebelschool.com/ - The Rebel School is a great resource for FREE advice on running a business through podcasts and online courses.
https://pioneer.app/ - The Pioneer program offers an online tournament where founders are given a structure to track their progress, keeping them accountable while competing for an opportunity to receive funding and mentoring.
I hope you've found this information useful. Please send in any questions or feedback using the email button at the bottom of the page.
