How to Start a Business with No Money! | The Business University | Skillshare
Play Speed
  • 0.5x
  • 1x (Normal)
  • 1.25x
  • 1.5x
  • 2x
1 Lessons (11m)
    • 1. How to Start a Business with No Money

      10:54
  • --
  • Beginner level
  • Intermediate level
  • Advanced level
  • All levels
  • Beg/Int level
  • Int/Adv level

Community Generated

The level is determined by a majority opinion of students who have reviewed this class. The teacher's recommendation is shown until at least 5 student responses are collected.

1,454

Students

--

Projects

About This Class

I have been running my own businesses now for over 13 years, and during that time I have been approached by countless people all asking me pretty much the same thing, and that is, "how do I become successful in business?"

If you ask 100 people that question, you are going to get 100 different answers. This is because most of the people you ask are going to talk to you about a specific business model, sales idea, or marketing tactic, etc...

In my opinion, the answer is simpler than that; however, I can't actually take credit for the simplicity of my answer.

Back before I started my last company, I was given some business advice that, at the time, I thought was the dumbest thing I'd ever heard. It didn't make sense to me, because I wasn't yet in business.

Years later, I've come to realize that it was some of the smartest advice that I've ever received. I say this, because, after following the advice, I ended up building a company that I sold for $1.2 million back in 2008.

In the video post below, I share with you exactly what this advice as, as well as how I put it to use in my own business, and, it is my hope that, after watching this video, you will do two things; share the video with others, and take my advice to heart.

Meet Your Teacher

Teacher Profile Image

The Business University

We teach easy high end courses all about business!

Teacher

Class Ratings

Expectations Met?
  • Exceeded!
    0%
  • Yes
    0%
  • Somewhat
    0%
  • Not really
    0%
Reviews Archive

In October 2018, we updated our review system to improve the way we collect feedback. Below are the reviews written before that update.

Your creative journey starts here.

  • Unlimited access to every class
  • Supportive online creative community
  • Learn offline with Skillshare’s app

Why Join Skillshare?

Take award-winning Skillshare Original Classes

Each class has short lessons, hands-on projects

Your membership supports Skillshare teachers

Learn From Anywhere

Take classes on the go with the Skillshare app. Stream or download to watch on the plane, the subway, or wherever you learn best.

phone

Transcripts

1. How to Start a Business with No Money: Theo guys, It's trained 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 it had a profound influence on my life. However, at the time that I was given the advice I had, it was the dumbest thing I've ever heard. 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 gonna make a lot of sense and hopefully is gonna 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 off. You're thinking yourself. Hey, I'm gonna 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 of the best green dot website ever, and you go out and you and 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 gonna prevent you from going on 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 Bigelow and they discover, and I'm gonna run out of color. So we're just gonna do green, green and red dots. But you 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 out and sell red dots, and things get a little bit better now. When they were over here coming up 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 discovered because I don't have enough felt markers. Dots, I'm gonna 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 so in 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 dot squares, triangles. Maybe we're gonna make red squares now. Hopefully you're getting the on 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 where you're procrastinating of oh, 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 my history in my blog's for a while. You know, you'll know that before getting into this business and creating on income Lab. I started a company called Iran Systems back in 2001 and in the beginning are green. Dot was we were just going to sell I T services to small businesses. Time and materials will send a guy out. He'll fix your computers and we'll charge you. I don't like 70 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 gonna turn into being. And we struggled with our green dots and we didn't make any money is managed. Have we lost a lot of money on the in the first years? We struggled with our green dots for about six months and then thankfully on, I don't remember. I guess I just started to pay attention to the competition. Somebody told me to pay attention to competition. I discovered that there was a better way to deliver our services, first of all, And that Discovery Onley happened when we were in a competitive situation foreign account, and we were told that we were gonna lose. And and of course, that was really disappointing because it was gonna be we were pitching. We're going to show up, I think, for like, 1/2 day per week and charged to the client like $800 a month because we really wanted to get that regular monthly fee cause, you know, having continuity in your business. Steady cash will makes life a lot easier. The other company, which, ironically enough, is no longer in business today. But that's because they were a dot com and raised a bunch of money and replaced it all. They were going to deliver services over the Internet 24 hours a day in a return for monthly feet. Now, before I started Iran, Do you think that I knew that that business model existed? No, I did not have the foggiest idea, and it never in a 1,000,000 years would have blocked out of this guy. It occurred to me because I chose to get into business. And then I was competing against this other company for account the the light bulb. I simply became aware that there was another opportunity to generate revenue and a different way to deliver services that I never would have figured out on my own. Happily moral of story is we won that account because we immediately I call. I said to him, Look, I mean, I think built some report with a guy and I said, Look, listen, could you not award the contract of 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 had simply told me what this other company was . We went to that of the company's website, discovered what they were using and it was some software that we've never heard of. And it was produced by Cisco. I believe Francisco. Anyway, we called him up and we gave more bleeding heart story and said We have no money. Can you give us the software like on a monthly pay? And they did. We called the customer back and said, OK, well, we've got all that fancy delivered on the Internet stuff too, and we're going to do it for 2020 or 25% 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 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 entrepreneurs 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 comments below, no less the proprietary and you don't want, you know, maybe a competitor hearing it. But if there's some way that this video is help 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 spot a book we don't have in the office today, called the $100 Start up, 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 100 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 might not do this, you might not get any traffic or what have you? Where will you be two weeks from now on the couch watching TV by and somebody else's course ? Read another book or another blawg 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 plus it or painted 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 some place other than my blawg, its online income lab dot com, thank you.