Business
Throwback to the five things YOU need to start a business. Getting into business with the least resistance is about having the right systems and processes in place and in this episode Paul shares in detail the 5 things you need to have in place before you get started in business. If you have a trading entity, the statutory requirements in place, a minimum viable product or service, a sales process, a payment system and a fulfilment process then you have a business that is operational. People like to overcomplicate business but follow these fundamentals and you will be able to build a business that you can successfully scale. If you really want to be your own boss then focus on these 5 fundamentals to get started now. KEY TAKEAWAYS Legal structure and trading entity - Decide how you are going trade and what mechanism you are going to use. Complete the legal requirements that mean you have a business. The statutory process – create the business and undertake the statutory processes required to establish it you must get the statutory requirements completed before you start. Minimum Viable Product (MVP) - What is the minimum viable product that you can use to get your business started? You can develop a product suite but to get started you need to focus on one product or service to start generating income. Sales process - This is the process from lead generation through to the paying customer. Look at the competition, those in your niche, and what are they doing, follow the clues of others who have done it before. Fulfilment and operational - What is the operational process you need to have in place to get the product or service to the client? Define what your process and minimal operational points are, what are you going to do to make sure you can fulfil and deliver what you have promised. BEST MOMENTS ‘What is your purpose, your ‘why’, your mission in life, what do you want to achieve as a person’ ‘You only need a single product or service to get the business launched’ ‘The key is to get into business with the least resistance’ VALUABLE RESOURCES BulletProof Business Podcast ABOUT THE HOST Paul Abercrombie Entrepreneur, Speaker, and Founder of Multiple Businesses. Paul is on a mission to help business owners and Entrepreneurs achieve success. "In 2008 I left my full-time job to follow my dream of owning my own business and building a better life for me and my family. Since then I have started 12 businesses, generated millions in sales revenue and employed hundreds of people. I have also had some epic failures, made many mistakes and it’s my mission to ensure other can learn from my experience, avoid the mistakes I have made and achieve success in both life and business!” CONTACT DETAILS Paul Abercrombie LinkedIn See omnystudio.com/listener for privacy information.