The Hardest Dollar to Earn

Summary

• Getting the first dollar in entrepreneurship is the hardest; it gets easier after that.
• New tasks are always harder than improving existing ones.
• Start with the simplest thing you can do to make money.
• For example, offer to mow your neighbor's lawn.
• If that works, ask more neighbors to build up your client base.
• With 10 neighbors each week, your business can grow fast.
• Consistently doing this can lead to significant income, even $20,000 or $50,000 a month.
• Over a span of a few years, this can develop into a substantial business.
• To reach $10 million or $100 million, any business model can work if scaled properly.
• Achieving over $1 billion often requires either a long-term vision in a traditional business or creating something entirely new.

Video

How To Take Action

I would suggest implementing the following strategies to grow your small business or achieve personal growth:

• Start Simple: Begin with the easiest and simplest task that can earn you money immediately. For example, offer a local service like mowing neighbors' lawns. This approach reduces initial complexity and gets you that crucial first dollar.

• Build on Success: Once you secure your first few jobs, expand your client base by reaching out to more neighbors. If you start with 10 neighbors a week and consistently deliver good service, scaling becomes more manageable. The key is consistency.

• Scale Gradually: Focus on delivering great service and growing your customer base gradually. With consistent effort, your small endeavor can turn into a substantial business generating significant income, potentially even $20,000 or $50,000 per month over time.

• Think Long Term: If your goal is to build a business earning millions or even billions, understand that any business model can be scaled with the right approach. For extraordinary growth beyond $1 billion, aim for either a long-term vision in an existing market or innovate to create something entirely new.

• Focus on Improvement: As you grow, continually refine your processes. Making existing tasks better and more efficient can lead to significant improvements in profitability and scalability. Always look for ways to do more or improve what you're already doing.

Using these low-cost, high-value strategies can help you achieve your financial goals efficiently. By starting with simple tasks, building on initial success, and thinking long-term, you can turn a small endeavor into a thriving business.

Full Transcript

getting the first dollar across the bridge in entrepreneurship is the hardest dollar everything after that is a lot easier because it's just more and better like new is always harder than more and better so get the new thing with the easiest possible thing you can so my neighbor has a big lawn fantastic neighbor can I mow your lawn for you okay you know what if I talk to 10 other neighbors I wonder if they would let me do that and you say okay well if I get 10 neighbors every week to say yes and it's by me knocking on the door and saying these things then I could holy cow this thing could be $20,000 a month 50,000 now if I did this for three years this thing could be here and then all of a sudden you have a business and so if you want to make 10 million 100 million any business works if you want to go over a billion you usually got to do something for a very long time in a normal business or something very new