It's the Golden Age for startups:
The risks of entrepreneurship are decreasing.
Here's how to take advantage: 🧵
The risks of entrepreneurship are decreasing.
Here's how to take advantage: 🧵
Millions dream of owning a business, but only a fraction take the leap.
Why?
Overcalculated risk.
Global events & rapid tech improvements have shifted the risk paradigm in favor of go-getters.
90% failure rates will be left in the past.
Here's why:
Why?
Overcalculated risk.
Global events & rapid tech improvements have shifted the risk paradigm in favor of go-getters.
90% failure rates will be left in the past.
Here's why:
Access to global talent:
Previously, businesses searched for service providers & employees locally.
Platforms like Upwork have opened the doors to global talent, creating better economics for entrepreneurs.
Lower cost, better quality work = opportunity.
Previously, businesses searched for service providers & employees locally.
Platforms like Upwork have opened the doors to global talent, creating better economics for entrepreneurs.
Lower cost, better quality work = opportunity.
How I do it:
I leverage talent from India & Philippines to:
- build software (that saved $200K+)
- keyword research for clients
- build workflows to automate process
Have had the same team for 3+ years...
I don't know where I'd be without them.
I leverage talent from India & Philippines to:
- build software (that saved $200K+)
- keyword research for clients
- build workflows to automate process
Have had the same team for 3+ years...
I don't know where I'd be without them.
Inexpensive Software:
Though packed with useless features, CRMs automate job functions that once required human touch.
Reminders, auto-follow ups, & more keep costs down and ensure nothing falls through the cracks.
Time & money = saved.
Though packed with useless features, CRMs automate job functions that once required human touch.
Reminders, auto-follow ups, & more keep costs down and ensure nothing falls through the cracks.
Time & money = saved.
How I do it:
Have used the free version of HubSpot to manage two 7-figure businesses.
It's enabled team members to improve time leverage and increase productivity.
Have used the free version of HubSpot to manage two 7-figure businesses.
It's enabled team members to improve time leverage and increase productivity.
Normalization of remote work:
Resistance to remote, whether employee or client driven, is gone.
Fewer trips & in-person meetings remove geographical preference, inherently making potential markets larger.
More prospects = more business.
Resistance to remote, whether employee or client driven, is gone.
Fewer trips & in-person meetings remove geographical preference, inherently making potential markets larger.
More prospects = more business.
How I do it:
Expanded client base throughout the United States & globe.
I have worked with 50+ clients I have never met in person.
To previous generations this wasn't possible. It enables scale at unprecedented speeds.
Expanded client base throughout the United States & globe.
I have worked with 50+ clients I have never met in person.
To previous generations this wasn't possible. It enables scale at unprecedented speeds.
The next 10+ years will be exciting for entrepreneurs.
But it doesn't mean risk is fully removed.
Combine the macro tailwinds above with these tactics to improve your odds for success:
Here's how:
But it doesn't mean risk is fully removed.
Combine the macro tailwinds above with these tactics to improve your odds for success:
Here's how:
1. Start Small:
Use the safety of your job to get started on a side project.
Lower the stakes & focus on small successes like one sale, one client, or just making $1.
From there, it snowballs into something huge.
Even science agrees.
Use the safety of your job to get started on a side project.
Lower the stakes & focus on small successes like one sale, one client, or just making $1.
From there, it snowballs into something huge.
Even science agrees.
https://twitter.com/barrettjoneill/status/1483109483270205440
2. Outsource Before Hiring
Trying to do everything is daunting.
When overworked, hiring employees seems logical, but it usually comes at our own expense...
Creating a flywheel of low pay & misery.
Instead, find service providers online to enjoy more profits & free time.
Trying to do everything is daunting.
When overworked, hiring employees seems logical, but it usually comes at our own expense...
Creating a flywheel of low pay & misery.
Instead, find service providers online to enjoy more profits & free time.
3. Business Friends
Entrepreneurship is full of hard days.
Confiding in only your spouse or biz partner can create stress in the relationship.
Find people in a similar spot & support each other.
It's a combination of coaching & therapy.
They key is 100% neutrality.
Entrepreneurship is full of hard days.
Confiding in only your spouse or biz partner can create stress in the relationship.
Find people in a similar spot & support each other.
It's a combination of coaching & therapy.
They key is 100% neutrality.
4. Replace Income
As you're aware, money is required to live.
Focus on matching or surpassing your income as fast as possible.
A severe setback in quality of life ends many ventures.
Don't put your business' health above your mental health.
As you're aware, money is required to live.
Focus on matching or surpassing your income as fast as possible.
A severe setback in quality of life ends many ventures.
Don't put your business' health above your mental health.
If it's been your dream to own a business, now is the time.
The risk is DECREASING at an INCREASING rate.
To take advantage you need an internet connection & determination.
The risk is DECREASING at an INCREASING rate.
To take advantage you need an internet connection & determination.
If you enjoyed this please RT the 1st tweet so others can find it.
Follow me @barrettjoneill for more content on startups, growth & SEO.
Follow me @barrettjoneill for more content on startups, growth & SEO.
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