Hello folks, long time lurker here, and a perfect time for a first post. Lets get started.
I can speak from the online business prospective, if that is relevant to you. I cant answer all your questions unfortunately, since I am still relatively green, but I have gained valuable experience.
Well...let's say zero. Basically, my old laptop died, and I sold components on the internet. They went quite fast, which provided me cash to buy more of them. And also I made some business contacts and reputation - very important for future growth.
At this stage (still begineer), I check my online business twice a day - in the morning and in the evening. Also, I have provided my phone number, so any potential client can call me any time. That is good enough for a start.
Also, as H1N1 stated, it will get harder and it will require more from you as time goes on (that is, when you achieve growth). Be open minded all the time. Learn from the mistakes of others. Accept critics from people who did achieve something, whether on this forum or in real life. Be prepared to make sacrifices. And the most important thing - PAY NO ATTENTION TO HATERS!!. A lot of people WILL hate you because you DON'T WANT TO SUBMIT to their meager existence - this I am speaking from experience.
Also, remember this saying:
Don't expect to make a lot of money overnight, especially if you start with a small, or no budget. It takes time and effort.
None. I only had prior teoretical experience (there are plenty of books and videos on the net).
Also, believe me or not, some WOW Auction house experience. Laugh as much as you wish, but that thing did learn me quite a lot of stuff - how to track expenses (and in order to do that, I have learned how to work on Excel), how to research the market and the current trends, among other things.
The main things that I have learned is that you need to find a middle ground between being a total asshole and a rug (someone who is constantly being taken advantage of, for free, as we call it here), be patient and be communicative (which for my generation - milenial, is, unfortunately, a rare trait...) .
I can summarize this in one single sentence - I wish I swallowed the red pill earlier. After all, we are men. We build stuff. And we do not whine.
Unfortunately, that is all I could say. Although it is not much, I hope it will help. Good luck!
I can speak from the online business prospective, if that is relevant to you. I cant answer all your questions unfortunately, since I am still relatively green, but I have gained valuable experience.
Quote:Quote:
How much money/capital did you start out with when beginning to build your business?
Well...let's say zero. Basically, my old laptop died, and I sold components on the internet. They went quite fast, which provided me cash to buy more of them. And also I made some business contacts and reputation - very important for future growth.
Quote:Quote:
What % of your time/energy did you direct towards growing your busineses at the beginning stage? What about after 1-2 years?
At this stage (still begineer), I check my online business twice a day - in the morning and in the evening. Also, I have provided my phone number, so any potential client can call me any time. That is good enough for a start.
Also, as H1N1 stated, it will get harder and it will require more from you as time goes on (that is, when you achieve growth). Be open minded all the time. Learn from the mistakes of others. Accept critics from people who did achieve something, whether on this forum or in real life. Be prepared to make sacrifices. And the most important thing - PAY NO ATTENTION TO HATERS!!. A lot of people WILL hate you because you DON'T WANT TO SUBMIT to their meager existence - this I am speaking from experience.
Also, remember this saying:
Quote:Quote:
"Rome wasn't built in a day"
Don't expect to make a lot of money overnight, especially if you start with a small, or no budget. It takes time and effort.
Quote:Quote:
How much about the relevant field did you know before beginning the business? How much did you learn as you went?
None. I only had prior teoretical experience (there are plenty of books and videos on the net).
Also, believe me or not, some WOW Auction house experience. Laugh as much as you wish, but that thing did learn me quite a lot of stuff - how to track expenses (and in order to do that, I have learned how to work on Excel), how to research the market and the current trends, among other things.
The main things that I have learned is that you need to find a middle ground between being a total asshole and a rug (someone who is constantly being taken advantage of, for free, as we call it here), be patient and be communicative (which for my generation - milenial, is, unfortunately, a rare trait...) .
Quote:Quote:
Is there anything you wish you knew then about being an entrepenuer that you know now?
I can summarize this in one single sentence - I wish I swallowed the red pill earlier. After all, we are men. We build stuff. And we do not whine.
Unfortunately, that is all I could say. Although it is not much, I hope it will help. Good luck!