A couple of Getting Realish ideas spotted in Best Life magazine:
Greg Gianforte is the author of “Bootstrapping Your Business: Start and Grow a Successful Company With Almost No Money.” In Follow Your Dream, he advises throwing out your five-year plan and focusing on building something now instead.
Gianforte describes how to build a company from sales rather than enlisting professional financiers. The secret is to stop sweating your five-year plan and start moving the product from day one. If your business idea requires more money than you have at hand, then shrink the idea.
“An entrepreneur getting started doesn’t need a $100 million idea,” says Gianforte. “A $1 million idea is enough. The beauty of a $1 million idea is that big companies don’t care about it. Find a niche within a niche.”
The same issue of the magazine also includes Mark Cuban’s Three Rules for Building a Company. He writes, “Do everything you can to avoid taking money.”
Sweat equity is the best equity. “Taking money from someone else kills more start-ups than anything else does. Do everything you can to avoid taking money. If you must, your best prospects are potential customers. You have something they want, so if they invest in you, it can be a win-win situation.”