I've built several businesses, following different business models and in different markets. What I've never done throughout all this is take on any kind of debt or external funding.
I've bootstrapped all my businesses. Including ones that come with considerable startup cost, such as Thrive Themes. I recommend you do the same, no matter what business you're trying to start.
Keep reading to discover why the bootstrap mindset isn't only about saving money & how you can become your very own investor.
"He made $26K flipping silly little websites!"
This ad copy caught my eye. It's a perfect example of a tempting "business opportunity". In one simple sentence, the ad implies that there's some little-known, simple thing you could learn how to do, that could make you a lot of money.
Thousands of entrepreneurs and wannabe-entrepreneurs fall for such promises. And this leads them down a predictable and ultimately disappointing path...
To get started as an entrepreneur, you need to develop the ability to see opportunities to jump on. You need to see gaps in a market, you need to learn many new techniques and skills.
And you need a certain optimism and can-do attitude, as well.
These are excellent qualities to have... until they're not.
As you're building up a business, the same qualities that helped you get started can get you stuck and slow down your progress. In today's post, we talk about why this is and what to do about it.
We've all heard it: "it's not about how often you fail, it's about how often you get back up again".
This quote and countless variations of it are a common sight in any book, blog or social media group about entrepreneurship. And while the message is true, it's not very useful.
That's why in this post, I'll share a method for turning this cliché into action. And you'll discover the one thing no one tells you about what it really means to "fail fast and fail often".
A year ago, I announced a new productivity experiment and invited you to join in. I created a simple spreadsheet where I would track 3 areas of my life on a weekly basis:
A year has passed and so it's time to look back and asses: did this productivity experiment work? Should I have done things differently?
Let's find out!
If you look for advice on how to be successful and make it as an entrepreneur, you'll soon encounter "follow your passion", "do what you love most", "dream big and go after your dreams" and other variations of this same idea.
For the most part, this is awful advice. Often given by people who are either delusional or just happened to get lucky themselves.
In today's post, let's take a look at why the idea of following your passion fails and why swinging too far the other way is also not the right solution.
We've all been told a dozen platitudes about failure. For example, that it's not about how often you fall, but how often you pick yourself back up.
This is technically true, but if all you do after a fall is pick yourself back up and keep going, you're missing out on possible the most powerful learning tool at your disposal...
If you've been frustrated because you constantly have ambitious goals and you constantly fall short of them, the strategy I'm sharing with you today might just change all that.
If you're a content creator, you'll love the technique I'm sharing with you today.
Whether it's writing blog posts, creating videos, hosting webinars and livestreams or creating podcast episodes, content creators all face the same problem: you have to keep coming up with new ideas. You have to keep producing content and keep it fresh and interesting.
In today's video, we'll look at a setup I create in Trello, which solves this problem. It may seem strange, but setting up this system actually makes you more creative and makes it easier to produce more ideas.
The story goes that if you work hard, you'll eventually get rewarded. If you just put in the effort and stick with it through the hard times, it will pay off, right?
Unfortunately, for many of us, that "sticking with it" part seems to drag on forever and the paying off part is nowhere to be seen.
And yet, still no success in sight.
If this describes you, then maybe you've been stubborn about the wrong things.
Recently, I've published a lot of content about productivity. Productivity is important, but let's make sure we don't put blinders on, here.
Productivity alone is not enough.
You can be super productive, squeeze many hours of work out of every day... and still make zero progress towards your goals.
Today, let's take a look at how you can combine productivity with strategy, to make sure you aren't just spinning your wheels real fast.
Everybody loves a good success story. It's inspirational to read about someone achieving the kinds of goals we dream about and seeing how they did it.
Unfortunately, the kind of success story we typically see might be eroding our ability to get things done. If you expect massive, breakout success, how motivated can you be for the daily grind. And how do you feel when your level of success absolutely pales in comparison with every story you read about?
You may be suffering from procrastination and a lack of productivity. Feeling stuck, even. But in this, there's also a potential advantage...
Doing focused, deep work, being productive and avoiding distractions and procrastination is getting harder for everyone. It's not just you.
I would go so far to say that focus is a rare and somewhat exotic skill, these days. And that means that if you learn it - if you build this skill - you gain a massive advantage over (almost) everyone else.