If you are thinking about starting a business during the pandemic your head may be filled with questions:
What kind of business to start?
How much money will I need?
What product or service should I sell?
And it gets even more complicated because the conventional business wisdom tells you that the following steps are also required:
1- Conduct market research.
2 – Write your business plan.
3- Fund your business.
4- Pick your business location.
5- Choose a business structure.
6- Choose your business name.
7- Register your business.
8- Get federal and state tax IDs.
9 – Apply for licenses and permits.
10 – Open a business bank account.
What if you could start a business from home and start earning a significant income before addressing anything on the list above.
(Take a breath this is not an MLM or affiliate marketing pitch)
Can you bootstrap a business in this current economic climate?
Bootstrapping
Bootstrapping is building a company from the ground up with nothing but personal savings, and with luck, the cash coming in from the first sales. The term is also used as a noun: A bootstrap is a business an entrepreneur with little or no outside cash or other support launches.
You may believe that a minimum of half a million dollars is required to start a business.
But according to Entrepreneur.com over 80 percent of successful new businesses are self-funded for much less — often as little as $10,000. This also reduces risk.
But what if you don’t have thousands of dollars to start a business?
What is the CENTS model?
Popularized by MJ DeMarco, writer of “The Millionaire Fastlane,” the C.E.N.T.S. approach to entrepreneurship means:
C – Control – to create the true financial freedom you must control the “product”.
E – Entry – or more properly put: “create a barrier to entry”. This is sometimes called a moat!
N – Need – You must create the content that your readers will eagerly pay to access.
T – Time – As Tim Ferriss so aptly described in The 4-Hour Workweek you must find a muse that will allow you to separate your time from your income (again, where PaidLetter.Com is invaluable).
S – Scale – Many physical product entrepreneurs are learning hard lessons about the complexity of importing, warehousing, and shipping. And the high costs associated with them.
A Single Operated Newsletter is a new evolution in digital products.
A Single Operated Newsletter is the perfect business to start during the pandemic lockdown.
Your ability to reach almost anyone on the planet with a Single Operated Newsletter.
Despite all of the social media hype, more sales transactions are still being done via email. This makes a Single Operated Newsletter the best vehicle for your online wealth creation.
A Single Operated Newsletter is cheap.
A Single Operated Newsletter is easy to track.
A Single Operated Newsletter lets you track your best customers and prospects, to focus on your marketing on them.
A Single Operated Newsletter can be set to run on auto-pilot giving you the ability to truly earn passive income.
Installing digital tools into your Single Operated Newsletter makes it a better resource for consumption and sales conversion.
Keys to New Online Wealth
1- Create a following (“tribe” as Seth Godin calls it). But you can do it without becoming a social media Influencer.
2- Create the content on your platform. Today this is more important than ever before. It must be a platform that you control (that eliminates YouTube, Facebook, and yes, even Instagram.
3- Create a payment button. Make sure that you are paid directly for the content that you provide.
This wonderful country that we live in has provided too many resources for
anyone of average intelligence to struggle for a living. And the amazing
financial resources of the World Wide Web are only a click away. I hope that you choose to take control of this powerful magic and design the life that you want.
Stay Healthy and Enjoy Your Life!
M.T. Smith
Founder & Creative Director
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