You have probably asked yourself – how do I make money? How to make real money is an issue I have studied for over 35 years – as an MBA student at Wharton, as a CPA consulting with small businesses, and over the last 30 years as a businessman owning my own successful businesses.
There are basic principles which guide you on how to make real money. The first principle is to have the right approach.
Daunting Odds Don’t have to Stop You…
…from learning how to make real money. You know that the odds of a business startup succeeding are daunting. The latest statistics from the Small Business Administration (SBA) show that only two-thirds of new employer establishments survive at least two years, and over 50% fail within the first four years. That’s why the right approach to your business startup is so crucial to making real money.
You don’t have to be a business casualty! Follow this free step-by-step guide to make key decisions about the right approach to starting a business before you even start. If you have already started your business, go through this guide anyway and maximize your odds of success.
Before You Continue…
…Business is not about tricks, win-lose deals, and dishonesty. It’s about action, persistence, patience, honesty, faith and hard work. Business is about creating long-term relationships; it’s about making those relationships WIN-WIN. Business is about creating value in the world and being compensated because you have made people’s lives better. Business is about getting what you want by giving people what they want or need.
As an example of a business that takes the right approach—business that is win-win, with honesty, integrity, persistence, hard work, and creating long-term relationships—look at the four business principles I use in my business.
Why People Don’t Start Businesses
The answer to: “how to make real money” is obviously to start a business. The net worth of business owners in the United States is five times higher than that of employees. In spite of this many people do not start their own businesses. Studies have shown there are three main reasons why people don’t start their own business:
- Fear of failure – With knowledge comes confidence and confidence removes fear of failure. So succeeding starts with knowledge and ends with action. This guide provides that knowledge and takes away the fear of failure.
- Lack of capital – There are plenty of businesses that can be started with minimal capital. “Money equity” can be replaced by “sweat equity”.
- Lack of knowledge – People fail to follow through on their ideas because they have no structure to determine whether their ideas have a chance of being successful–they simply do not know how to start a business. Failing to plan means planning to fail. This guide provides that planning structure for those who follow it step by step.
The WRONG Approach to Business Startups
The three biggest causes of business failure are:
- READY, AIM, READY, AIM, READY, AIM. This guide pushes you through the key decisions so you can pull the trigger, and be confident about the decisions you keep putting off. Preparation breeds confidence and confidence will lead you to your successful business startup.
- FIRE, READY, AIM. This guide will make sure you go through the necessary steps so you don’t make wrong decisions. By the time you are ready to “fire”, you will know how to start your business.
- FIRE, FIRE, FIRE. Some people just have a lot of business ideas and start one project after the other but never get anywhere with any of them. This is because they “fall in love” too quickly and then, just as quickly, “fall out of love” with their ideas. This guide will give you a structure to establish which idea is the “right one”, the one to which you can commit, the one business you will start.
The RIGHT Approach to Business Startups
This guide takes the steps to starting a business using the READY, AIM, FIRE approach to starting a business. By taking the step by step approach to starting your business you will be taking the right approach to your business startup and getting the right answer to your question: how to make real money.
The READY steps include evaluating yourself to make sure you are ready for what is coming. These steps will also open the possibilities of different business types. Before you focus on one idea you should take the opportunity to look at all the possibilities. This is your chance to do that.
Once you have taken into account all the relevant factors to make your choice, you are ready to focus in on the business you want. These steps are the AIM part of the approach.
Once you have a laser focus on the business you want to start, the FIRE steps will take you through the process of preparing to start your business.
John Maxwell, a leadership expert, said: “It’s not making the decision to do something, it’s managing your decision each and every day that makes the difference.”
You’ve got the right approach to starting your business–ready, aim, fire. It’s now time to take off the bib and put on the apron. Bibs are for people who want to be fed and for those not yet ready or willing to feed themselves. Aprons are for those who don’t mind getting their hands dirty; aprons are for those who are willing to take responsibility; aprons are for those who, having made a decision to do something, manage their decisions each and every day.