The first million is the hardest

Stack of money

Is each of these easier to get than the last?

They say the first million is the hardest to get, and that after that it will be smooth sailing.

There just might be some truth to that.

How come?

Here are 3 reasons.

 

You need to eat

While in the process of starting a business and making it a success, you still need to eat.

What that means is that you need an income. Unless that income comes from your family or the government (or you’re rich) you need a job.

A job takes time and energy. Time and energy you could have spent on designing your business proposal and working towards making it a success.

Don’t quit your day job just yet though. You still need to put food on the table. And in fact to pay for the table.

Working full time will make the process of starting a business take more time.

 

You don’t have a clue

If you have never started a business previously, your experience is limited.

You may have the perfect business idea and all the skills needed to do what you want to do. But do you know all the organizational and legal requirements?

Odds are this will take quite some time and resources to figure out satisfactorily, and the failure to do so could lead to extra expenses and problems in the future.

On the same note, every industry is different, with different terms and environments. It takes time to get to know everything you need to know. Until you get there you are basically fumbling in the dark.

 

You don’t know anyone important

It’s not what you know, but who you know.

Never truer than when starting up your own business.

Why?

Knowing the right people and getting them to put in a good word for you will tremendously help you to kick-start your business. A promotional post at a successful niche blog will get the word of your business out to a huge amount of potential clients in an instant.

Knowing someone who can put you in contact with companies looking for providers of exactly the thing you’re specialized on, would make for a smooth take off.

Don’t know anyone like that?

Not to worry. Building a successful business is still possible. It will just take more time.

 

Once you get there

Persistence will get you to where you want to go. And once there, you will be that much more ready for the next project. You will know what works and what doesn’t, you will be able to get off the ground quicker and more efficiently, and you will most likely have gotten to know a number of interesting people in the process – clients and others.

So once you’ve gotten there, once you’ve made a successful business, once you’ve gotten to the first million, will it all be smooth sailing?

They say so. It’s for you to find out.

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