Are you looking forward to start a business from scratch with little to no money? Watch the video to learn more!
There are a few ways to start a business from scratch.
Here are two of them:
- To make something, that does not cost much to make and sell it for more than it costs to make.
- By organizing with a four point triangle team that we teach in the Academy.
I made something and then I sold it, that is how I started the Vermont Teddy Bear Company
I had a son. He received over 30 stuffed animals from friends and family when he was born and not one of them was made in the USA. I researched the industry, learned who made the first one and what the company did. It did not cost me much to make a bear. I loved doing it so I made a bunch more. I built my own outdoor peddlers cart and sold my bears on that cart. I kept trying new ways to sell my bears, and always making them better and better. I learned how to sell them as a gift, that is what made me successful.
Learning how to sell
Whatever you want to do for your business idea is key to the success of starting a business from scratch.
First, find something that you can make or someone can make it for you. It is ideal if the cost of making your product or service does not require a large investment upfront. Then, you can:
- Figure out how you are going to sell it.
- Look for better and better ways to sell it
- Work toward making it better, not really cheaper
A really good way to start a business from scratch is by understanding the Four Point Triangle. The Four Point Triangle is how every business runs.
Learn what your strength is. What are you good at ? Is it
- organizing,
- making things,
- selling things,
- running things,
- bookkeeping?
Then,
- Dream about what kind of business you would like to build or be part of building
- Research other successful people who have done what you want to do, learn for them
- Learn as much as you can about how to run a business,
- Learn about stock and stock ownership, the stock is what you will work for, you work to increase the value of the stock
Learn about the Four Point Triangle
- Find others, that can be part of the four point triangle, that have the strengths you do not have
- Work together as a group, to make a plan to make your product or service
- Work as a group to sell your product or service
- Work as a group to increase the value of the stock,
