Starting a Business Is NOT Hard

Summary

• When starting a business, don't overcomplicate the setup. Go on Legal Zoom to get the necessary documents and open a bank account.
• Connect your bank account to a payment processor to start receiving money from customers.
• Focus on getting people to buy something from you, ideally a service, so you don't need upfront capital.
• Offer an unconditional satisfaction guarantee to make it easy for customers to trust you.
• Remember, the goal of your first business is not to get rich but to get good at running a business.

Video

How To Take Action

I would suggest starting simple. Head over to Legal Zoom and get your necessary business documents. No need to wait around. Next, open a bank account specifically for your business. It's crucial to keep your finances organized from the get-go.

Once that's set, link your bank account to a payment processor. This step is key because you need a way to accept money from customers. Make it seamless for them to pay you.

Focus on getting people to buy something from you. Services are the way to go if you want to avoid upfront costs. Offer a service you’re good at, and you can always adjust your offer based on feedback. This way, you don’t need to invest in inventory or products that might not sell.

One powerful tactic is to offer an unconditional satisfaction guarantee. This makes it easier for customers to trust you and try out your services. If they aren’t satisfied, give them a full refund, no questions asked. Remember, early on, you’re trying to learn the ropes, not make a ton of money.

Lastly, keep in mind that your first business venture isn’t about getting rich. The goal is to get good at running a business. The experience and lessons you gain will be invaluable as you move forward. It's not about perfection; it's about progress. Keep it simple, stay focused, and learn as you go.

Quotes by Alex Hormozi

"Go on Legal Zoom step one get documents"

– Alex Hormozi

"Get people to buy something from you ideally something that you can do for them so you don't have to front capital"

– Alex Hormozi

"Get bank account step three go to payment processor insert bank account so that you now connect them"

– Alex Hormozi

"Make it easy give everybody an unconditional satisfaction guarantee"

– Alex Hormozi

"You're trying to learn not earn right now"

– Alex Hormozi

Full Transcript

I 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 because 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 Legal Zoom 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 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 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 is not where you're G to get rich it's where you're gonna get good