Robert Shemin’s Rules for starting your own business

Think of it this way: As long as you’re working for someone else, it’ like you’re at the gym every day doing a major workout. You’re sweating. You’re doing all the heavy lifting. But all that effort is going to build a great set of pecs or abs for your employer. If you’re going to do all that work and put in all those hours, you should be the one getting all the benefits. That’ Rich Idiot thinking.

I now there are hundreds of books out there filled with thousands of pages regarding how to pick your business, start your business, capitalize your business, manage your business, expand your business- the list goes on. It can get overwhelming and complicated.

There are however a few simple things that can get you started right away.

start-your-business

Robert Shemin’s Rule NO. 1: Don’t do a Big Complicated Business Plan

Keep it Simple Stupid

Mission Statement

The first thing to write down is your mission statement. This is where you really get to think about your values. About what’s important to you. What you stand for. This is where you get to write down your dream, your vision. Your mission statement should always be about more than just the money.

Time Commitment

Next write down your time commitment. You have to set a time limit on your efforts. You’ve all read the saying that an overnight success takes twenty years. The good news is that it doesn’t take twenty years—but it takes more than ten minutes.

How long are you going to stick with it and give it your best shot?

Financial Goal

Next is your financial goal. Make it as specific as possible, and always add what you’re going to do to achieve it. It’s pointless to write, “I’m going to make a million dollars, “ unless you also spell out how you’re going to do it. Are you going to buy real estate or stocks, bake a zillion pies, buy a commercial airline…what exactly are you going to do?

Activities

You can’t skip the fourth step, planning purposeful activities. This is important. One of the Forbes billionaires, forty -eight -year -old Mark Cuban was asked, “ What’s more important, the idea or the execution? “ He didn’t hesitate: Execution. Everyone has ideas. “ You must do something every day to bring you closer to your business goal. For business, this is where the rubber meets the road. Without a plan of action, all you ‘ll ever have is great ideas.

Schedule

The final element of the business plan I’m advocating is discipline. You have not boss. There’s no time clock to punch. It’s up to you. You must set hours and stick to them. When you add up the number of hours you typically have to spare every week for building a business you’ll be surprised to see that it’s about seven or eight. Most people think you need hundreds of hours to launch a business. Not true. You can launch a successful business in just an hour a day but it’s got to be every day and a full hour. It’s about Focus!

When choosing your business the most important factor is that you love what you do! Bog Dylan got it right when he said, “ A man is a success if he gets up in the morning and gets to bed at night, and in between he does what he wants to do. “

START NOW!

Reab about New York Times bestselling author Robert Shemin

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