The Best Business Advice You’ll Ever Get (IMHO)
I have started 8 different businesses in the past 10 years, and every single one of them has failed miserably. This is what makes me so qualified to provide the
worst best business advice you will ever get.
1. You Don’t Need Capitol, Just Wing It
When I tried launching Survival Camping Store, my mission was to sell camping and survival gear. I was in direct competition with Cabelas, REI, Amazon etc… But I also had no money. Like literally nothing. So I decided to launch the site anyway and simply buy the products as orders came in.
For starters, it took weeks to get my first sale, and soon enough I was accumulating 3-4 sales per day. The problem was that I had to use the customers money to order the products quickly at a very high price, which drastically cut nearly all the profit. In the end, I netted about 5 grand after 1 year of hard work and had lots of unhappy customers and numerous BBB complaints.
2. Do It All By Yourself
I am a terrible writer, web designer, accountant, customer service rep, and many other things. Yet, I only ever hired myself to do each of the required tasks in running a business. Sometime I wonder if things would have worked out better if I hired skilled personnel. But probably not.
3. Do Your Own Niche Research and Stick To It Even If You Hate It
Most entrepreneurs will tell you to do what you love and the rest will follow, or something like that. I said “screw it” and did my own niche research to determine where there was market share to be shared. That’s how The Penis Size Guide was founded. It only took 5 years for the website to begin paying for itself through ad revenue. Why? Because I hate writing articles about male enhancement.
4. Ignore Exercise, Sleep and Adequate Nutrition
All of these things take up time and time is obviously of the essence. I knew the logical thing was to stay up as late as possible, eat once per day and cancel my gym membership.
5. Let Other People Go First
If you’re unsure whether something will work, wait to see what happens to other people. If you see that it works you can simply jump in real quick and tell everyone that you started it. If they fail, then you can nonchalantly back away like you never even considered the idea. That’s time, money, and total embarrassment saved.
6. Don’t Trust Anyone
If someone tells you that you’re getting a great deal, they are DEFINITELY lying. If they say you should consider other option, you KNOW you are on the right track. Don’t listen to other people, especially experts in a field that you are unfamiliar with, that is the easiest way to take advantage of someone.
7. Worry About the Technical Stuff Later
You can run a business for years without worrying about filing taxes and other business related technicalities. All the time spent on those details just delays your progress, skip it for now and get to it after your business takes off.
8. Buy High, Sell Low
When something is valuable, you want it. When something is valueless, you don’t want it. Therefore, buy high and sell low.