- Excitement
- Skill
- Consumer demand
- Build experience with freelancer then start-up then business
$Strategy = AIM then Ready then Fire$
- Identify goal
- Introspection
- Assess your aspiration (dreams)
- Why to start startup
- Figure out key strength
- Strengthen your skills don’t copy someone
- What are new you can do?
- Make list of skill, on right write used skills and left write skills you don’t use
- Find achievement (did it changed any thing in life and can be profitable)
- Top skills create reputation
- Identify personal trait (reputation is new currency, because it differentiate you with others)
- SWOT analysis
- Find opportunity – by look what others are doing
- Always improve
- diversify
- Office setup in minimum or no cost
- Priority management
- Split project in to tasks
- Group similar tasks
- Self-review
- Spent time in training
- Set daily priorities
- Schedule breaks
- Plan your day
- Do hardest task first
- Create and commit your own deadlines
- Check ideal vs actual time
- Spend on learning (1000days effective focused learning makes person extraordinary)
- Contract and paperwork
- Take down payment
- Bookkeeping
- Invoice reminder
- Finance forecast
- Make contract for free work
- Charge for late payment
- Accounting software
- Keep cash reserve
- Make budget, by analysing this year expense
- Business doesn’t bring same month each month
- Start CFO
- Consult lawyer for all legal work
- Market segment issues
- Do not sell to everyone and don’t sell everything
- DO Litmus test to see if startup can get customer.