You are that kind of person who wanted to be an entrepreneur but you are waiting for something? Then you are a ‘wantrepreneur‘. I will help you to start your first company.
I was on a podcast, I think it was one of the big ones ‘Entrepreneur on Fire’ and I was asking the host about his audience because I wanted to know if they were mostly seasoned entrepreneurs so I could be talking on a high level and he said that 90% of his audience don’t have companies, either they were spectators into the ‘sport’ that is entrepreneurship or they’re waiting to make the leap.
On this blog post I want to talk about how to start a new business with no experience with three easy steps:
- – Get more experience
- – Clone their business
- – Cold email to find clients
How Can You Start a Business If You’re a Wantrepreneur Without Experience:
These are 3 things you should do if you don’t have a company yet, these will get you a company within 6 months and then you won’t have an excuse!
Then you’ll be a business owner and maybe you don’t have to listen to these business podcasts or watch my videos anymore so I can start teaching more advanced stuff to you.
#1 Get More Experience
You can do this by working for free.
When I was starting, I made out a list of the type of companies I wanted to work for, at the time I was watching a lot of ‘Mad Men’ so I liked that sort of business and I figured I wanted to be an account manager at an advertising firm in New York City.
You can do similar! I was also reading a lot of Tim Ferriss and digging into startup culture, Noah Kagan and App Sumo. While listening to this whole stuff about startups, I decided I wanted to move to NYC and work at a startup.
In order to get into the startup, I went out and got these jobs. I worked for free in the first one for a month doing business development.
Figure out what industry you want to be in, get experience in that industry, work for three to six months. Work one month for free, and then they’ll hire you if your work’s good- save up for one month before you switch your job, so there are no losses.
While working in those six months, pay a lot of attention to everything: how is the founder connected to what you are doing? Which I hope is something revolving sales because that’s where the money comes from.
What is the founder doing? Is there an operations guy? A finance guy? A coder? What are they doing? Is there a team under the coder? Study the hierarchy of the company and try to figure out as much as you can.
#2 Clone Their Business
For instance, if they’re a services business – these are the easiest to start because basically you just have to say you do something and start selling to people. Clone their business and now you take their business as your own, use everything you learned from working there to start your own agency.
#3 Cold Email to Find Clients
There’s a post where I show you our actual script that we used to build my first company that outlines the actual cold email I used to go get my first clients for Experiment 27.
Whether you’re still working at that company where you worked for free and that turned into a regular job, or maybe you quit and you’re going all-in and live off your credit cards, you’re going to be sending as many cold emails as you possibly can.
If your salary is high enough you can hire people in the Philippines or people in Rumania or India to build the list that you’re sending for your cold emails, otherwise you’re working on weekends and building this list up.
Ideally, you want to send about 200 cold emails a week when you’re first starting, maybe even more. Customize the crap out of those emails, meet with clients, close a deal or two and now you have a business.
That’s basically how you start a business without experience! Get experience, clone whatever business you jump into and clone emails to find clients. Do you have any other excuses for not starting a business?
If you want to know more about “Wantrepreneur”:
- How Much Money Do You Need To Start a Business?
- 2 tools to help you start a company – SquareSpace and Calendly – @alxberman
- What to Do in the First 90 Days After Starting a Marketing Agency?
- 4 Steps to Get Your First Customers in a Content Marketing Company