hi I’m Evan Carmichael welcome to tell edition of ask Evan today we’re going to
edition of ask Evan today we’re going to
edition of ask Evan today we’re going to be continuing our challenge series where
be continuing our challenge series where
be continuing our challenge series where we answer questions from our readers to
we answer questions from our readers to
we answer questions from our readers to help them grow their business so today’s
help them grow their business so today’s
help them grow their business so today’s question comes in from Augustine who’s
question comes in from Augustine who’s
question comes in from Augustine who’s one of the Telus talks business Facebook
one of the Telus talks business Facebook
one of the Telus talks business Facebook fans and Augustine wrote in saying I
fans and Augustine wrote in saying I
fans and Augustine wrote in saying I want to know how one can run a business
want to know how one can run a business
want to know how one can run a business without having to get alone so thanks to
without having to get alone so thanks to
without having to get alone so thanks to the question Augustine great question
the question Augustine great question
the question Augustine great question one I know a lot of entrepreneurs are
one I know a lot of entrepreneurs are
one I know a lot of entrepreneurs are going through and thinking about how do
going through and thinking about how do
going through and thinking about how do I start this business out having to get
I start this business out having to get
I start this business out having to get money and I used to be in the venture
money and I used to be in the venture
money and I used to be in the venture capital world where I helped raise
capital world where I helped raise
capital world where I helped raise capital fractures but I’m actually a big
capital fractures but I’m actually a big
capital fractures but I’m actually a big believer in bootstrapping and trying to
believer in bootstrapping and trying to
believer in bootstrapping and trying to get it done without having to go and
get it done without having to go and
get it done without having to go and raise money so in this video I’m going
raise money so in this video I’m going
raise money so in this video I’m going to share three of my top tips to help
to share three of my top tips to help
to share three of my top tips to help you and I look forward to seeing you at
you and I look forward to seeing you at
you and I look forward to seeing you at the end of the video number one start
the end of the video number one start
the end of the video number one start with a surface I almost always
with a surface I almost always
with a surface I almost always recommended entrepreneurs start a
recommended entrepreneurs start a
recommended entrepreneurs start a service-based business you can have
service-based business you can have
service-based business you can have bigger ambitions to create products but
bigger ambitions to create products but
bigger ambitions to create products but the best way to start is usually through
the best way to start is usually through
the best way to start is usually through a service one of the main reasons is the
a service one of the main reasons is the
a service one of the main reasons is the cost you don’t need as much money to
cost you don’t need as much money to
cost you don’t need as much money to start or maintain a service-based
start or maintain a service-based
start or maintain a service-based business often the only thing you need
business often the only thing you need
business often the only thing you need is your time you don’t need an office
is your time you don’t need an office
is your time you don’t need an office you don’t need an inventory you don’t
you don’t need an inventory you don’t
you don’t need an inventory you don’t need storage you need less equipment if
need storage you need less equipment if
need storage you need less equipment if any and any money you make goes right
any and any money you make goes right
any and any money you make goes right into your pocket the first step in
into your pocket the first step in
into your pocket the first step in building a successful business is
building a successful business is
building a successful business is getting beyond the survival phase and
getting beyond the survival phase and
getting beyond the survival phase and you have to make enough money to pay
you have to make enough money to pay
you have to make enough money to pay your bills and survive a service-based
your bills and survive a service-based
your bills and survive a service-based business can get the cash flow coming in
business can get the cash flow coming in
business can get the cash flow coming in more quickly and can allow you to create
more quickly and can allow you to create
more quickly and can allow you to create a solid base from which you can launch
a solid base from which you can launch
a solid base from which you can launch products if that’s your end goal here is
products if that’s your end goal here is
products if that’s your end goal here is some advice from Tony Robbins the
some advice from Tony Robbins the
some advice from Tony Robbins the defining factor is never resources it’s
defining factor is never resources it’s
defining factor is never resources it’s resourceful pneus
resourceful pneus
resourceful pneus number to build around the customer
number to build around the customer
number to build around the customer another great way to build your business
another great way to build your business
another great way to build your business without going into debt is to talk to
without going into debt is to talk to
without going into debt is to talk to your potential customers before you
your potential customers before you
your potential customers before you start interview them ask them what their
start interview them ask them what their
start interview them ask them what their pain points are and see if you can find
pain points are and see if you can find
pain points are and see if you can find a way to help them ask them if you could
a way to help them ask them if you could
a way to help them ask them if you could solve their problem for them what they
solve their problem for them what they
solve their problem for them what they hire you if you can start your business
hire you if you can start your business
hire you if you can start your business with a customer from day one you’re
with a customer from day one you’re
with a customer from day one you’re ahead of the game and have money coming
ahead of the game and have money coming
ahead of the game and have money coming in the door from the beginning in my
in the door from the beginning in my
in the door from the beginning in my first real business we build software
first real business we build software
first real business we build software and spent countless days building a tool
and spent countless days building a tool
and spent countless days building a tool that we thought would be valuable but it
that we thought would be valuable but it
that we thought would be valuable but it turns out that our clients didn’t really
turns out that our clients didn’t really
turns out that our clients didn’t really care about it luckily we had enough
care about it luckily we had enough
care about it luckily we had enough other great things in our software that
other great things in our software that
other great things in our software that our clients still bought from us but we
our clients still bought from us but we
our clients still bought from us but we learned our lesson always talk to your
learned our lesson always talk to your
learned our lesson always talk to your customers to build around them before
customers to build around them before
customers to build around them before you launch here’s some advice from Mark
you launch here’s some advice from Mark
you launch here’s some advice from Mark Cuban of course I was underestimated I
Cuban of course I was underestimated I
Cuban of course I was underestimated I was young and this was a new industry I
was young and this was a new industry I
was young and this was a new industry I just used it to my advantage I had more
just used it to my advantage I had more
just used it to my advantage I had more energy I didn’t have any preconceived
energy I didn’t have any preconceived
energy I didn’t have any preconceived notions and how things should be I just
notions and how things should be I just
notions and how things should be I just tried to learn technology better than
tried to learn technology better than
tried to learn technology better than anyone else and find the best ways to
anyone else and find the best ways to
anyone else and find the best ways to help my customers number three don’t
help my customers number three don’t
help my customers number three don’t spend until you earn anybody can spend
spend until you earn anybody can spend
spend until you earn anybody can spend money it’s easy forgive me million
money it’s easy forgive me million
money it’s easy forgive me million dollars i’m sure you can find a million
dollars i’m sure you can find a million
dollars i’m sure you can find a million different ways to spend it the hard part
different ways to spend it the hard part
different ways to spend it the hard part about running a business is making money
about running a business is making money
about running a business is making money i personally hate spending money until
i personally hate spending money until
i personally hate spending money until i’m making money i’ll invest my time but
i’m making money i’ll invest my time but
i’m making money i’ll invest my time but i won’t put dollars in until I figured
i won’t put dollars in until I figured
i won’t put dollars in until I figured out a model that works here’s a quick
out a model that works here’s a quick
out a model that works here’s a quick example I always wanted to get into
example I always wanted to get into
example I always wanted to get into making YouTube videos to answer people’s
making YouTube videos to answer people’s
making YouTube videos to answer people’s questions so I could help a wider
questions so I could help a wider
questions so I could help a wider audience but didn’t have a way to
audience but didn’t have a way to
audience but didn’t have a way to monetize it so I didn’t want to go out
monetize it so I didn’t want to go out
monetize it so I didn’t want to go out and spend the money on the camera tripod
and spend the money on the camera tripod
and spend the money on the camera tripod lighting microphone editor and so on so
lighting microphone editor and so on so
lighting microphone editor and so on so I bootstrapped it I used the camera had
I bootstrapped it I used the camera had
I bootstrapped it I used the camera had at home bouncing on a bookshelf and
at home bouncing on a bookshelf and
at home bouncing on a bookshelf and recorded the first videos I made were
recorded the first videos I made were
recorded the first videos I made were terrible the content was pretty good and
terrible the content was pretty good and
terrible the content was pretty good and people still watched him today on
people still watched him today on
people still watched him today on YouTube and give great feedback but the
YouTube and give great feedback but the
YouTube and give great feedback but the production quality was brutal I could
production quality was brutal I could
production quality was brutal I could have gone out and bought the equipment I
have gone out and bought the equipment I
have gone out and bought the equipment I didn’t want to spend the money until I
didn’t want to spend the money until I
didn’t want to spend the money until I found a way to make money so I kept at
found a way to make money so I kept at
found a way to make money so I kept at it and eventually discovered a model
it and eventually discovered a model
it and eventually discovered a model that worked then his money came in i was
that worked then his money came in i was
that worked then his money came in i was able to slowly invest into better
able to slowly invest into better
able to slowly invest into better equipment and the quality got better the
equipment and the quality got better the
equipment and the quality got better the other benefit here is that i’m only
other benefit here is that i’m only
other benefit here is that i’m only spending money on something that I know
spending money on something that I know
spending money on something that I know books and they want to continue doing I
books and they want to continue doing I
books and they want to continue doing I could have bought all the equipment
could have bought all the equipment
could have bought all the equipment found out after a few videos that I
found out after a few videos that I
found out after a few videos that I don’t want to do this and we have
don’t want to do this and we have
don’t want to do this and we have thousands of dollars sitting in my
thousands of dollars sitting in my
thousands of dollars sitting in my closet never been used my boot strapping
closet never been used my boot strapping
closet never been used my boot strapping you find what works and what you want to
you find what works and what you want to
you find what works and what you want to continue doing then you spend money to
continue doing then you spend money to
continue doing then you spend money to expand once you found the model that
expand once you found the model that
expand once you found the model that works here’s some advice from lillian
works here’s some advice from lillian
works here’s some advice from lillian vernon work hard that’s the bottom line
vernon work hard that’s the bottom line
vernon work hard that’s the bottom line don’t spend more money than you’ve got
don’t spend more money than you’ve got
don’t spend more money than you’ve got don’t spend money before you’ve got it
don’t spend money before you’ve got it
don’t spend money before you’ve got it thank you for joining me for another
thank you for joining me for another
thank you for joining me for another edition of ask Evan if you like the
edition of ask Evan if you like the
edition of ask Evan if you like the video you want to see more please give
video you want to see more please give
video you want to see more please give it a thumbs up below it always makes me
it a thumbs up below it always makes me
it a thumbs up below it always makes me want to do more of these videos for you
want to do more of these videos for you
want to do more of these videos for you and also love to hear what you have to
and also love to hear what you have to
and also love to hear what you have to think you want to leave a comment under
think you want to leave a comment under
think you want to leave a comment under the video if you have something to say
the video if you have something to say
the video if you have something to say about this video or some recommendations
about this video or some recommendations
about this video or some recommendations for Augustine or if you have a question
for Augustine or if you have a question
for Augustine or if you have a question for your own business that we can
for your own business that we can
for your own business that we can potentially feature in an upcoming video
potentially feature in an upcoming video
potentially feature in an upcoming video feel free to leave in the comments below
feel free to leave in the comments below
feel free to leave in the comments below I always read those and I try to respond
I always read those and I try to respond
I always read those and I try to respond as soon as I can so thank you and we’ll
as soon as I can so thank you and we’ll
as soon as I can so thank you and we’ll see you in the next episode
”
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