Overcoming The Business Barrier (Not enough money)

Growing a business can be tough, but there are several tips that have been continuously employed over the last few centuries. These tips have allowed dirt poor individuals, such as Jobs, Zuckerberg, Kroc, Disney, and Ford to rise up and become perhaps the most well-known and well established business owners on the planet. You might be saying to yourself “what are these tips and how can i use them in my business ventures?”

Investing yourself in your product: Billionaires do not start off as billionaires. In many cases it is the absolute opposite. They start off with nothing and then slowly work their way up the latter. This is the unfortunate trait that nearly all business owners have in common. The trait that allows them to escape this poverty is their ability to be confident in their product and their ability to produce. In other words they set their sights on something and then proceed to do whatever it takes to achieve their goal. In order to put this in perspective lets analyze Jobs. Jobs spent years of his life doing nothing other than creating a product that he thought the world would love (the Macintosh computer). Everyone was against his idea because they saw it as too simple and lacking the ability to be customized. He believed in this idea so much that he was willing to be fired from the company. He then continued the development of this product and later was rehired with his same product. His trend developed and is the only reason “apple” is one of the biggest brand names in the world. The take away point in this instance is to invest yourself in the product you are trying to sell. This means paying yourself nothing. When you invest your money into the business you see it flourish. Once the business grows you can gain the benefits. communication-barriersFind the right partner: Zukerberg developed Facebook by working with a close group of friends. These individuals did not expect money or fame from one another. They simply worked toward a mutual goal and had a mutual respect for one another. This is the relationship that is conducive to allowing a business to flourish. Additionally this allows a business to prevent using excessive amounts of money. At one point or another a business will have to work with someone or some organization they do not like, which will cost them money. However, that time and money can be reserved for a later time when the business has grown and has the extra money. The message to take away is that you must find someone that wants to be a part of your business because they like you or your idea. Getting a person to help you because they want money or fame will ultimately cause your business to waste money and be infringed upon.

Paying with ownership: At this point you are aware of the fact that you need to be fully invested in your product. Additionally you have seen the importance of finding a moral partner or group of people that are as interested and invested in the product as yourself. Even though these people are not after money or fame they still need to make a living. If they work for you and help you without any pay they will likely resent you. This is what happened in the example of Jobs and Zukerberg. Both men had great colleagues that worked with them, but never received recognition or payment. The best way to pay these long-term members that is through a percentage of the company. You give them a percentage of the company and they know that when the business increases they will receive the reward. This also builds trust as well because it proves to them how much you trust them. It is like giving them a piece of your thoughts or mind.