If you are thinking about building a business, understand this:
- A new business SHOULD solve a problem many people have, that other businesses are not solving (adequately). Do not start a “me too” business.
- A business is operated by more than 3 people. No person has all the skills, time, energy to operate a business system on their own. You need partners/employees.
- It is not money that you need first. It is the idea and “systems”. Organization.
- In these modern times, only scalable businesses will thrive. A scalable business can serve thousands of people, in different locations, simultaneously. Franchises and online platforms are good examples.
- A successful scalable business takes 5-7 years to build. If you are not able and willing to wait, while doing operations daily, stick to employment and resign to fate.
- You will face resistance from the industry players whose status quo you are disrupting. You must be a narcissistic, manipulative psychopath to win the WAR. The Dark Triad Traits are very important.
