I called a friend of mine the other day to check up on him.
The guy’s an amazing software engineer with over 6 years of experience in the field.
But he was NOT happy when i called.
“What’s wrong, bro?” i inquired with concern.
“I lost 120,000 in a bad business deal. I put it down as a deposit for oil i wanted to import and sell locally. But the guys i gave it to in the Ukraine turned out to be professional thieves!”
It’s not uncommon to hear such stories from the early days of people who later become extremely successful merchants.
Business is not for the weak. It involves a great deal of risk…and it is littered with unsavoury characters ready to take advantage and steal from the inexperienced.
Last year i myself lost a multi-million dollar web business i spent 2 years working on with a crooked partner. So i definitely can’t tell you that i’m much better than my friend was.
But many expensive mistakes can be avoided by doing one thing different…
Start a business in a field you already know a lot about.
Like i said, my friend is a software engineer.
He could have had his pick of businesses to get involved with in the field of software.
He could be providing software solutions, he could hire a team of developers and build an amazing program that solves some complex problem. Anything really.
It’s why Bill Gates (programmer) became founder of Microsoft (software company)…
Or why Zuckerberg (computer science major) became founder of Facebook (a software solution for socialising)…
Or why successful University Professors become founders of some of the top Universities in the world…
Or why Mike Young (lawyer) became founder of MikeYoungLaw.com the #1 cyberlaw website.
If my friend had followed a software business path instead, his experience would have come in handy.
He would not have made expensive mistakes very easily.
Because he knows that industry well. He knows the competitors, he understands all the steps involved, and he knows all the things that could go wrong.
That’s why, i always encourage my consulting clients to start a business in an area they already have great experience and knowledge in.
But the result is often useless.
When i ask these students to brainstorm lists of all their education, experience, skills, and hobbies as a pre-requisite to building a business…
…they always create lists like this:
– Helping people make money
– Rich Dad Poor Dad
– Investment Advice
– Frank Kern’s Mass Control
I can guarantee you that this is by no means a comprehensive list of their skills, education, experience, and hobbies.
At best, it could be their most RECENT set of skills and education.
But that also means their experience is extremely limited and very fresh.
Certainly not enough to qualify them to own a business selling anything related to the field of investment, money, and the web with much luck.
It opens them up to all kinds of problems…
it’s why they get “scammed” regularly.
it’s why they buy useless courses for thousands of dollars they never make money from.
it’s why they setup tens of websites and not one of them ever gets a visitor.
it’s why they blog and SEO their hearts out without ever getting a sale.
And it’s why they never have any money left to buy the training that really matters when it comes along.
Nothing in the world is easier to make money with than what you ALREADY make money with.
And i mean, if you’ve spent the last 20 years working in a corporate job as a LAWYER, then what possible reason is there for you to NOT start a business related to legal services?
Why would you sell some stupid affiliate eBook on rehashed Rich Dad Poor Dad ideas?
If you’ve been a programmer for the past 20 years, then becoming a freelance programmer should be your first step when you “strike out on your own”.
If you’ve been an English teacher, then freelance writing is not a bad starting point for you.
Even if your job bores you, being in business for yourself in an area related to your job is still far more rewarding than any other work or business you might have.
Besides, just because you have a legal services business, doesn’t mean you have to be doing the same JOB FUNCTIONS you have at work. But a legal services business could sure use a lawyer at its head to determine…
– which staff are needed
– who qualifies to work with you
– how to get new clients
– what solutions are needed in the market-place
– and much more…
Or will you leave these businesses to be snatched up by savvy merchants? People who will hire qualified lawyers JUST LIKE YOU as their CEOs and pay them some shitty salary?
In the end, whatever you do for a living, it is needed…
and you could either be the business owner making the big bucks from what you know well…or be someone working for the business owner doing the same routine, day-to-day work for peanuts.
the choice is yours.
The Internet Business Academy is for people sick of working at their jobs for a salary…
skilled, educated, experienced people who are sick of making their bosses rich while doing all the work that brings the money.
We show you how to turn your best experience into a business to earn PROFIT instead of wages.
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