(This post is a natural extention of the previous.)
It is definitely possible to start a business with little or no money but you need a few extra dollops of creativity and chutzpah to make it happen.
I started my telecom company with absolutely no money at all. Zero! The irony was that I was starting a long distance telephone company yet I was afraid to make long distance calls because I didn’t know how I was going to pay for them when the bill came due. I therefore confined my sales efforts to local calls. Over the next nine years, that company grew to serving 250,000 customers in over 100 countries, to employing 1100 people, and to generating over $300 million in annual sales.
While cash flow was able to fuel most of the hyper-fast growth we experienced, there were a few times when outside money was needed. We mostly borrowed it. Click here for a funny story about those days.
Today’s post will reveal the secret of attracting the necessary resources to grow.
Basically, a business sprouts out of some playing or fiddling with an idea. Initially you are driven by your curiosity, or your interest, or your passion, or your natural talent. As you are playing around, you find that the process makes you happy. That is a wonderful early indication that you are on the right track. You’re having fun and that leads to more knowledge, sophistication, and skill. That increase in expertise in turn increases the fun. And so it goes, higher and higher.
Eventually you come to a point in this merry journey when you get a glimpse into the future. At that time you get a clear idea of what it will take to be a roaring success in your particular undertaking. In other words, you see what is required to take your current fun and games to a higher, more productive level.
You have now come to an important moment. Here you begin to appreciate that to progress any further, you are going to have make a substantial leap, and that leap is embodied in one word – commitment. You realize that for your project to be truly successful, you are going to have to make an increased commitment in time and/or money.
It can be scary vision. There is overwhelming risk and there are no guarantees. Most people back off at this point. They think of how much money they could lose, or how awful failure would feel, or how much time could be wasted, or how embarrassing falling on their faces could be.
However, those who are exhilarated by the process, or are driven by their passion, or are so desperate that they have no other choice, take that leap.
If you take the leap by making the commitment, here is where the magic begins. That commitment turns out to be Mother Nature’s price of admission. Once you make that commitment, Nature rushes in and miraculously supplies you with the resources to take your endeavor to the next level.
Having been through those gut-checking moments many times, I have come to appreciate them immensely.
The secret to attracting the resources you need is in making that commitment. It simply insures your getting good luck. And when you have good luck, work becomes obsolete. Instead you just enjoy playing with Nature.
The following quotation is a powerful bit of wisdom for every aspiring entrepreneur.
“Until one is
committed there is hesitating, the chance to draw back, always ineffectiveness.
Concerning all acts of initiative (and creation), there is one elementary
truth, the ignorance of which kills countless ideas and splendid plans. That
the moment one definitely commits oneself,