How to Start a Business with No Money

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hey guys it’s Trent here from the online income lab and today I want to give you what was given to me in terms of a business advice a number of years ago and I had a profound influence on my life however at the time that I was given the advice I thought it was the dumbest thing I ever heard and here it is the best way to succeed in business is to be in business and I thought wow thanks Dick Tracy that’s really profound because I really didn’t get it and years later it made a lot of sense to me and from this piece of advice I created what I call my green dot theory so bear with me as I explain this to you because I think it’s going to make a lot of sense and it hopefully it’s going to fire you up okay so when you first come up with your idea maybe it’s for an authority site or any kind of business you’re thinking of you’re thinking to yourself hey I’m going to go out there and you write this business plan or whatever and I’m going to sell green dots and I’m going to be like the best green dot sales guy or the best green dot business or the best green dot website ever and you go out and you being you promptly suck and so that’s kind of disappointing and one of the things that people do is they give up and that’s really sad when that happens in a course that’s going to prevent you from going on and having success however some of the people don’t give up and some of the people they go out and I should probably have more colors for this so they go out and they discover and I’m going to run out of color so we’re just going to do the coordinate green and red dots but you’ll get the idea they discover as a byproduct of trying to figure out how to sell more green dots they discover these things that there’s there’s like a red dot opportunity out there and so they kind of scrap what they were doing here and now they adjust their business to go ahead and sell red dots and things get a little bit better now when they were over here with their business plan they didn’t even know that red dots existed but they’re still not doing very well they’re just kind of scraping by and you know it’s not great however what happens is at this point they discover it because I don’t have enough filt markers it’s two dots I’m going to I’m going to modify my dot theory live right here on camera they discover green squares and so they again adjust the business model and now they start selling green squares and business picks up a little bit more and now when they start selling their green squares like I say business picks up but they’re still not achieving the level of success that they want so now while they’re out there trying to figure out how to sell more green squares they discover that there are in fact or there is in fact an opportunity to start selling red triangles again back here you had no idea that red triangles even existed and so when you finally get so when they’re when they’re here now business is picking up again and as you can see this kind of continues we could we could make you know I don’t know dots squares triangles maybe we’re going to make red squares now hopefully you’re getting the I the message that I’m trying to convey the best way to succeed in business is to be in business if you’re reading about being in business or you’re thinking about being in business or you’re procrastinating about being in business or you’re talking about being in business you’re never going to discover red squares or black boxes or whatever it is that the journey of being in business will help you to uncover so my point of my message in this video is the most important thing for you to do is to simply start for those of you who followed my history and my blog for a while you know you’ll know that before getting into this business and creating the online income lab I started a company called Durand Systems back in 2001 and in the beginning our green dot was we were just going to sell IT services to small businesses time and materials will send a guy out he’ll fix your computers and we’ll charge you just like seven or 80 bucks an hour and I was so ill-informed or so naive about business back then that I had no idea what a horrible business that was going to turn into being and we struggled with our green dots and we didn’t make any money as a matter of fact we lost a lot of money on the last in the first years when we struggled with our green dots for about six months and then thankfully and I don’t remember I guess I just started to pay attention to the competition somebody told me to pay attention the competition I discovered that there was a better way to deliver our services first of all and that discovery only happened when we were in a competitive situation for an account and we were told that we were going to lose and and of course that was really disappointing because it was going to be we were pitching we were going to show up I think for like a half day per week and charged the client like 800 dollars a month because we really wanted to get that regular monthly fee because you know having continuity in your business steady cash flow makes life a whole lot easier the other company which ironically enough is no longer in business today with it that’s because they were a dot-com and raised a bunch of money and placed it at all they were going to deliver services over the Internet 24 hours a day in a return for monthly fee now before I started Duran do you think that I knew that that business model existed no I did not have the foggiest idea and it never in a million years would have flopped out of this guy occurred to me because I chose to get into business and then I was competing against this other company for an account the the light bulb I simply became a way there was another opportunity to generate revenue in a different way to deliver services that I never would have figured out on my own happily moral of the story is we won that account because we immediately I call I said to him look I mean I thankfully I built some rapport with a guy and I said Louis listen could you not award the contract at the other company give me two days that’s all I need is two days and he said all right you guys love you out of the year you’re sure I’ll give you two days and so he exactly told me what this other company was we went to that of the company’s web site discovered what they were using and it was some software that we’ve never heard of and it was produced by Cisco I believe it was Cisco anyway we called him up and we gave him our bleeding-heart story and said we have no money can you give us the software like on a monthly pay and they they did we called the customer back and said okay well we’ve got all that fancy delivered on the internet stuff too and we’re going to do it for twenty twenty or twenty-five percent less than the other company and he said all right you got the deal and that was the very first customer that we had with our new red dot because we really weren’t selling the same thing anymore and and business continued to pick up over time because as we went further further into that business we figured out that we could add backup services that we could add security services server monitoring all this other stuff that when I was the entrepreneur with a business plan and a pretty dumb entrepreneur at that I had absolutely no idea that that stuff existed so hopefully today’s video has given you some insight into some things that may not have occurred to you before you watch it if you have got some new insights by the way I’d love it if you left them in the comments below you know unless the proprietary and you don’t want you know maybe a competitor hearing it but if there’s some way that this video has helped you to move forward that kind of feedback really really floats my boat so please take a moment and share it and what my hope for you is is that you’ll get fear doubt uncertainty and procrastination and kick its ass out the door and just start online businesses cost nothing to create I’d spot a book but don’t have in the office today called the hundred dollar startup and it gives story after story after story of people who went on to change their lives to build businesses that created six-figure incomes in some cases they started for under a hundred bucks but they didn’t get it right right from the get-go and nor will you get it right right from the get-go but what I promise you is if you just watch this video and you don’t do anything with the knowledge that I’m giving you in this video a week from now a month from now your life is going to be exactly the same as it is today if you have an idea for an authority site but you’re coming up with all the reasons why it might not work or it might not do this or you might not get any traffic or what have you where will you be two weeks from now on the couch watching TV buying somebody else’s course read another book or another blog post but you will not be in business and if you’re not in business this cannot apply to you so the lesson here is the best way to succeed in business is to be in business so go ahead and start a business it’s the Internet you can have one started in an hour what’s your Excuse thanks very much for watching if you like this video I would love it if you would tweet it or share it or Google+ it or paint it on your forehead or anything that you want to do to help me spread the word because my goal is to help more people get into business and succeed in business and I need your help to make that happen thanks very much for watching I’ll see you in the next poster video or podcast or whatever it is and if you’re watching this on someplace other than my blog its online income lab com thank you