Start small to go big.
Why start small when you can go big?
One of the most controversial concepts about winning what we want in life is to think big and to live big. While there is nothing unfair with expecting big when it comes to taking action and making progress, initiating small is the key. There are many explanations for the company’s remarkable growth. But one technique small businesses can learn from is the ability to think big, yet take small steps.
If you look at most of the successful businesses out there, like Apple, Dell, Amazon, etc., they all started small.
The biggest excuse I hear when someone talks about why they haven’t started a business is, “I don’t have any money. How can I start a business without money?!”
The reason I use the word “excuse” is that that is exactly what it is…an excuse.
Small business owners don’t go into one job description. They are multi-talented and don’t want to be pigeon-holed as an accountant, data entry clerk, or human resources manager. According to Chron.com and More Business, an entrepreneur assumes he or she knows how a business should be run, and “this inspires the entrepreneur to initiate his own business and get directly committed.” Instead of hitting their head against the wall when their boss makes a blunder, they can take charge and do it their way.
Is it a good investment?
When you start a business or a project, you do not know if your business idea will work out. Hence, you start with an MVP. You develop the product at a lower cost and you test the product to the market quickly. You want to know if the fundamental idea will work.
How does a typical business investment work?
When someone invests money in a startup, they are most likely buying shares of the company. Put yourself in Investors’ shoes and ask yourself — Why is it a valuable risk and how would it make the money back for me?
Investors will consider the earnings of the business and factor in growth, debt levels, and the economics of the industry as a whole. If things are inviting, they often apply a valuation multiple to the profit stream. To summarize, the investor gets what investor considers the deal’s worth in risk & rewards associated and you can negotiate if you know and can defend your valuations along with de-risking your investors’ deal as much as possible as long as it makes financial sense for you too.
The main way you can make money from your investments is by selling your shares in the businesses for more than you paid for them or do systematic monthly investments in low-risk mutual funds. One version would be to check to see your risk appetite and go through the mutual fund’s details and complete comparisons to pick the best ones. You can also look at hiring a consultant, an expert in the financial field.
It’s easy to focus only on the day-to-day running of your business, especially in the early stages. But once you’re up and running, it can pay dividends to think about longer-term and more strategic planning. This is especially true as you take on more staff, create departments within the business, appoint managers or directors, and become distanced from the everyday running of the business.
I believe this article gives you a clear idea of why you should start small.
Thus, start small and take little actions that will lead you to your ultimate destination.
Always aim for the moon. Even if you miss, you land among the stars.