How Easy Is It to Start a Small Business?

In today’s reallly quick, four-minutes-to-read post:

A great point about how we overcomplicate business startups by going about it bass-ackwards;

How to do it right instead;

A feature of some of my very favorite “Bros”;

Not one, but THREE ways to test a market BEFORE wasting a buttload of cash developing a product no one wants.

Ready?

How easy is it really to start a small business?

kyleIt’s waaaay easy. I mean almost stupid-simple.

It’s EASY to start a small biz if you’re making money from the get-go.

What’s HARD is putting a lot of effort into products, inventory, a storefront…

…then finding out that you don’t have a winner!

It Only Takes Two Things to Make a Business

Those two things are:

  1. Access to a thing of value
  2. A way to communicate with people that value it

…that’s IT! Everything else that we do in business is geared toward doing one or the other of those two things better.

Think about it for a sec: have you ever sold anything through a classified ad? Or nowadays via eBay or a Craigslist post?

classifiedIf you’ve ever sold your car or tv or an old weight bench on Craigslist, you probably weren’t thinking of it as a business. You just wanted to get rid of some stuff. So you hung out a shingle and waited to see if someone nibbled.

I’ll bet you didn’t even feel like a pushy salesperson, or a slick businessperson. You’re just a regular guy or gal that wants money more than the stuff you have, or have access to… and were willing to throw out a line and see what you reeled in.

You had access of something that was of value (not to you maybe, but to someone) and you had a way to communicate with folks that wanted it. Then somebody called you, came and took your old mountain bike off your hands.

And gave you money for it. 😉

That’s a business transaction.

Making a single profitable transaction into a small business is as simple as lather, rinse, repeat.

That is, you just analyze what worked once… and see if you can make it work again and again.

Testing Your Target Market: “The W’s”

Couldja make a living at this? Could you find out where to get new and used mountain bikes cheap and connect with people that buy mountain bikes?

Heh… only one way to find out.

Test.

First, find out if people will actually buy something.  I do this by actually selling to them, whether I own it yet or not.

Then, find out how to connect with more of the folks that buy that thing.

Then find where to get it cheaply if it’s a product. Or how to produce it for less than you can get for it.

If what you’re selling is a service, you either provide the service yourself or hook up someone that will.

Either way, before getting in too deep… before committing your time, your resources, your emotional investment… simply Find Out The W’s:

What people Want

Why they Want it

Where to find them

hoW to connect with them

When to contact them

… and see if you really have a winner.

Let’s imagine that you’re thinking about jumping in a body of water. How do we know if it’s warm? Or how deep?

Simple. You simply ‘get your feet wet’. You dip your toe and consider the results before jumping in all the way.

Testing the Market is Cheap and Easier on your Emotions

 Last year, my son Pierce and I took a teeeny tiny investment of $62.66 and had some signs made for a small business idea.

uspLook how simple:

We described the service:

Screen Repair… Windows and Screen doors

We gave our Unique Selling Proposition:

“We come to you!”

And we gave our contact information; the cell phone number that I was using at the time.

Check it out… While we were yet putting these bad boys out (I think we were on sign number four), my phone rang. The profit from that one, first customer recouped our entire ad budget.

There ya have a winner.  😉

We recently had our first $500 profit day in this little enterprise. Not shabby for a side venture started primarily to teach my son entrepreneurship and independence.

In my upcoming book, Get Paid TODAY: What Most Folks Don’t Know About Making a Small Business Profitable Instantly, I walk the reader through how we also got scads of free advertising and connected with large customers like real estate management companies and window cleaning companies to become their sole provider.

But I digress. Back to the topic at hand:

Using Free or Cheap Methods to Learn and Test Your Market

In the service business example above, Pierce and I used physical signs because it was a local market that we were breaking into. If it had been a product to ship, or a service that we could render at a distance, we would certainly have used more internet marketing.

We DID also put up a simple places page on Google, a Facebook fan page, place listings on Fixr.com and Craigslist.com… all FREE advertising, mind you. SO our total invested amount in the fledgling biz was what you might spend on a family dinner at a modest restaurant.

After we proved the concept, we invested in more advertising… you can read more details on this blog… but the point is that we had money in pocket, bird in hand, cash in fist… before we really began to swing for the fences.

What if our little experiment had failed?

Well, shucks. Then we’d be out about $62.66 and a couple hours’ work.

Beats the tar out of buying up inventory and equipment… signing a lease… hiring employees… THEN finding out our idea was a dud.

Other Ways to Test the Market for FREE- Almost

startupbrosMy Bros over at StartupBros.com have got a very cheap 3 step process to test the market for a product or service delivered by internet, you should check it out BEFORE investing a ton of time and money into developing your product. Most you will spend is about fifty bucks.

Three Steps to Validate Your Small Business Idea FREE- Almost

I’ve also got a totally different 3 step plan that I’ve used to validate… or rule out… all kinds of biz opp ideas too. Check it out here:

Three Steps to Validate Your Bizness Idea FREE-Almost

Heh… notice any SIMILARITY between those two titles? It’s because I blatantly stole the title from Startup Bros.

Not to worry, Steppers.. the Bros are cool with it 😉

Dude... Seriously? You STOLE our freakin' title?

Dude… Seriously? You STOLE our freakin’ title?

Check out each post. They are two totally different ways to test your intended market, and they cost about the same: cheap or free.

Allrighty Steppers! Back to the trenches, where I’ll be finishing my next bestseller, Get Paid TODAY: What Most Folks Don’t Know About Making a Small Business Profitable Instantly.

Keep Stepping,

Kurt

Comments

  1. Really awesome list of Blog Commenting Sites. It’s very effective for SEO to improve your rank google. I think this is a complete list of high DA blog commenting sites. thanks for giving this list in detail.

  2. Hi,
    Good job..

  3. You are absolutely genious.Very nice this is.Thanks for the share with us this nice post.

  4. Wah This post is very easy to find a idea to start a small business.

  5. Hey! Great content! Thanks for participating in your studies and perceptivity!
    Glad I stopped by! Before reading I suppose it’s hard to start a small business, but you made it as simple as having water. I’ll now quit the boring job and start my own business.

  6. Hi Author,
    I think this is one of the most significant information for me. And i’m glad reading your article. But wanna remark on few general things, The web site style is great, the articles is really nice.

  7. Hi Author,
    I like your site very much. You have highlighted the issues of how to do business online on your site. The topics are very instructive and effective. We can start our business using these. Thanks a lot.

  8. Thanks for ones marvelous posting! I seriously enjoyed reading it, you might be a great author. I will ensure that I bookmark your blog and will come back in the foreseeable future. I want to encourage you to ultimately continue your great writing, have a nice morning!

  9. Small businesses should go for digital marketing to run their business in this pandemic. great content thanks for sharing

  10. Great story and I enjoyed your photos too. This post is important and informative. Thanks for your lovely sharing.

  11. Yeah, got those post correctly. Dealing with your own fear would lead you from a wrong perspective. Thank you for getting the right those of information about starting a small business.

  12. Rumored Buzz On Top Ten Online Businesses

    Even though producing any solution initial off, the 70% of your achievements relies upon upon the way you exploration your current market along with your rivals. Once you are a hundred% absolutely sure that there’ll be hungry customers to your merchandise, then begin creating a product or service.
    Maheen Khan recently posted…Career for Arts Stream Top 18 Courses To Do After Arts StreamMy Profile

  13. I like your ideas,
    You know what I am looking to change my windows and doors and I guess you have provided the best solution for my problem, I am really glad that I found your blog, thanks for such wonderful sharing

  14. Hey! Great content! Thanks for sharing your thoughts and insights!
    Glad I stopped by!

  15. Before reading I think its hard to stat a small business, but you made it as simple as having a cake. I will now quit the boring job and start own business.

  16. Thanks for clearing it up! I find it really useful!

  17. Really an insightful content. Though starting up any business whether it’s small or big, associated with risks. Not only capital but business idea & indomitable desire to succeed can help you to survive. Thanks for sharing.

  18. Thanks for sharing..! I found that this is really nice tips about entrepreneur starting up business. Well, I am agree with 2 things you mentioned it.

    1. Access the thing value
    2. A way to communicate with people who value it.

    I think that you tried to convince me to identify the value of the people which we are going to sell it.

    then learn about how to find prospective customer and build relationship between customers and a buyer.

    isn’t it..?

    I remembers, I made first online sale in last 3 years. My customer is the Facebook friend who I always help him.
    Kimsea Sok recently posted…How to Start Best Small Business With BloggingMy Profile

    • Kurt Frankenberg
      Twitter:
      says:

      Yes, those are the only two things that are necessary to have a business. Access to a thing of value, and a way to communicate with people that value it.

      We want to identify WHO values the thing that we have, or can get access. Then we build an ongoing relationship with those people.

      It’s the relationship that’s more important, not the product or service.

      Thanks for reading, Kimsea Sok! Hope to see you around again!

      Keep Stepping,

      Kurt
      Kurt Frankenberg recently posted…Top Five Posts on SS101 to Start or Grow Your BusinessMy Profile

  19. Regina says:

    It’s true, it really is that simple to get started. That’s how my mom started her eBay business 12+ years ago, and how I continued doing it when I took over for her a few years later.

    We sold collectibles. We would find something that was valuable to someone, did what we could to get it as inexpensively as possible, then posted it on eBay using all the right keywords to make sure that the people who would find it valuable could actually find it and buy it. If an item sold well, buy more of it and star the whole process over again. Do that repeatedly and you have yourself a business!

  20. Only a true entrepreneur would start a side business to “teach my son entrepreneurship and independence.” Love that!

    • kurtf
      Twitter:
      says:

      Ha! Well it’s been a fun adventure. Proves a point to all those kidz out there waiting for someone to “give them a job.” Phooey. MAKE a job, you’ll probably make more and certainly find it more enjoyable.

      Thanks for the comment Sylvia! Check your inbox later today, I think I have an idea for you.

      Keep Stepping,

      Kurt
      kurtf recently posted…Effective Marketing on a Shoestring Budget: Part THREEMy Profile

      • You’ve piqued my curiosity. I’ll be checking my in box for your idea.

        • kurtf
          Twitter:
          says:

          Hi Sylvia,

          I did send you my ‘brilliant’ idea. Hope you like it. Let me know if you didn’t get it.

          Keep Stepping,

          Kurt
          kurtf recently posted…Effective Marketing on a Shoestring Budget: Part THREEMy Profile

          • Sorry, didn’t get it. 🙁
            Sylvia recently posted…Peer-to-Peer Lending WORKS!My Profile

          • kurtf
            Twitter:
            says:

            Oh! I will resend.

            Essentially this was the idea; writing a biz plan is daunting work. I know that your method will help folks because of its step-by-step nature.

            But there is still ‘writing’.

            So I thought I would give you a hack that’s worked for me when I get stuck as a writer. First, need a headline or topic (for example, How Is This Business Distinct from Others in the same Space?” Then, the writer speaks into a recording device. I happen to use my PC. I just yammer on as much as I know about my subject, recording as I go, and then..!

            …send it up to Fiverr.com for transcription.

            As you know, it’s easier to edit CRAP than to edit air. And the stuff you’ll have written out for you isn’t crap, it just needs organizing.

            Anyhoo, this is a hack that’s worked for me as a writer, it may help your clients. Especially the perfectionists or the folks that fear writing. Have ’em just talk. When they see their thoughts all written out it’s very empowering. “Wow, I’ll just move this from here to here… don’t need this part really… this section is pure gold… Let me change how I said that just a little bit.” Ta-daaa.

            You’re a damn good writer.

            Anyhoo, it’s worked for me. Maybe your clients could get some mileage out of that idea as well.

            Keep Stepping,

            Kurt
            kurtf recently posted…Effective Marketing on a Shoestring Budget: Part THREEMy Profile

          • kurtf
            Twitter:
            says:

            You are welcome Sylvia! I can give you/your subscribers the name of the fella I use at Fiverr to do my transcription. Pretty darn accurate, affordable as all get out.

            Keep Stepping,

            Kurt
            kurtf recently posted…Effective Marketing on a Shoestring Budget: Part THREEMy Profile

  21. Great piece, Kurt.

    It so much easier to start a small business than most people think, especially when you’re starting an online business. The start up and overhead cost of online businesses are incredibly low and you can start one up out of your mom’s basement and be sitting pretty nice within a year or two, assuming you stick to your guns and following a solid “business plan”.

    Thanks for taking the time to share your insights on this topic.This is my first time visiting your blog, Kurt and I’m loving what I’ve seen and read so far. I’ll be sure to share this piece with my social circle. I’ll also comment and share it with the BizSugar community.

    Keep the great content coming and I hope to connect more with you soon.

    Ti
    Ti Roberts recently posted…[VIDEO] TRTT Episode #7 – Should You Swap Guest Posting For Paid Advertising? (subscriber questions answered)My Profile

  22. kurtf
    Twitter:
    says:

    Thanks for checking Shoestring101!
    kurtf recently posted…Effective Marketing on a Shoestring Budget Part TWOMy Profile

Trackbacks

  1. BizSugar.com says:

    How Easy Is It to Start a Small Business?

    In today’s reallly quick, four-minutes-to-read post: A great point about how we overcomplicate business startups by going about it bass-ackwards; How to do it right instead; A feature of some of my very favorite “Bros”;

Speak Your Mind

*

CommentLuv badge