How To Start a Business 4 Important Lessons

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if you want to start a business as for things you need to know in order to actually start your business let me show you so let’s pretend this is your business here okay now when we talk about a business we’ve got to be really certain about what type of business that we want one of the things I’ve learned through starting many businesses and taking them from nothing to multiple seven-figure businesses is that the business has to be specific and has to produce a result for your clients so when we create this business the first thing that we need is we’ve got to be passionate about it so P stands for the passion and I’ll tell you why it’s so hard to start a business that our motivation wanes so one of the things we have to do is we need to be passionate about it so we wake up we have that energy to follow through that’s the first thing the second thing that we need is that business has to be producing P I which stands for passive income most people when they start a business they were in the business and that’s a problem because if you’re not there and you’re sick then then your business if it requires you to be there then it’s not going to make money the goal is to be able to work from anywhere in the world and for you not to be involved in the business there’s a saying that says you should work smart instead of working hard you should be working on your business instead of working in your business so make sure that the business is producing passive income so you’re not having to work in that business and also as well it’s also going to have what we call L C L C stands for low cost so whenever we start a business we have to instead of putting all that money into a business just try and see if it works where you want to start off with a lower cost and this leverage ways to do that you know a lot of people when they start a business they buy sharp they’re high staff and they’re committing to all these costs and of course if the business doesn’t work then the business fails and so that’s why you got to start with low cost test and market out first and the fourth part of this it also has to require L T which stands for low time you know a lot of people when they start a business they spend so much time starting the business and that’s good that’s good because you got to set the systems at first but eventually you want to be able to know have to put the time in there to do that create the systems be able to create leverage in your business because one of the biggest things about that is really understanding the systematic way to start a business instead of being like so stressed out with all these little processes and that’s why McDonald’s is a multi-billion dollar company because it’s got manuals and processes that are set that any spotting teenager can run and that’s one of the reasons why we’re starting and creating an event called the lifestyle business Convention which I love to invite you to so if you want to learn these four steps which is creating a business having a passion creating passive income having it have low cost to start and low time to start then I invite you to the lifestyle business convention around this video there’s gonna be a link click on that link you’ll go to another page get yourself registered and I really look forward to seeing you at that event it says John Lee the author of the Ralph dragon way take massive action now