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How to start a business in four steps:
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Key takeaways
- They were all like, "Yeah, I really want to start a business." And they six months later I checked in cuz I like doing that.
- Ideally, something that you can do for them so you don't have to front capital.
- And if you do it for them, you can also change the offer on the fly and see what people like.
- This isn't your first business, it's not where you're going to get rich.
Chapters
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00I was talking to these college kids. They were all like, "Yeah, I really want to start a business." And they six months later I checked in cuz I like doing that. And all of them were like, "Yeah, I'm still getting the LLC, you know, set up." And I was like, "What does that even mean? Like, go on LegalZoom, step one. Get documents, go to bank, step two. Get bank account, step three. Go to payment processor, insert bank account so that you now connect them, step four. Get people to buy something from you. Ideally, something that you can do for them so you don't have to front capital. And if you do it for them, you can also change the offer on the fly and see what people like. And to make it easy, give everybody an unconditional satisfaction guarantee that if for whatever reason, even if you do the job and it's amazing, if they just ask for their money back, you'll just give it to them. Because you're trying to learn, not earn right now. This isn't your first business, it's not where you're going to get rich.
0:47It's where you're going to get good.