What is the best way to start a business, saving up your own capital, franchising, or an incubator?
Best business advice I got from my mentor (who started off from zero and today is generates $33 Million annually)
- Keep your overheads to zero.
If you can operate from your house - better - Don’t show off. Stay & live simple.
My mentor never changed his house of 33 years. - Spend money only where it is required.
My mentor never spends money on flashy stuff for the office. Only basic stuff but yeah - the best technology - Buy for one - sell for two and sell fast
- Cash in hand is better than more cash promised later
- Use creativity in everything you do
- Loyalty is better than talent
Get people who are loyal to you. Train them and make them the best. - Earn 100, Save 50, Invest 30 and live on 20
- Everyday make sure you achieve your target
My mentor would never go home until he achieved his target - Time is money. Never waste it
- Discipline is the key
My mentor always woke up at 5am no matter what time he slept - Never repeat the same mistake twice
- You are as good as your savings.
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