Yesterday I spoke with a prospect who I had last had a conversation with three months ago about launching an online business.
I asked him how he was getting on and what he had been up to over the last 12 weeks.
He told me he had been finishing his business plan, but wanted my advice on some of the costs and revenue figures for year three.
I told him it didn’t matter. I suggested he stick in any numbers he thought were reasonable. He was a bit taken aback by my abrupt response.
Now don’t get me wrong, I’m a big believer in doing some planning for any new business. It helps you think through all your costs, what money you will make from where and how much cash you will need to get started. This is all important stuff.
However business plans are always wrong, particularly once you forecast beyond six months.
I have written many, and seen hundreds … and they ALWAYS prove to be wrong.
As Nike Says "Just Do It!"
I always tell first time internet entrepreneurs the most important step in their journey to wealth and independence is earning the first dollar from their website.
Until you have earned the first dollar, you don’t have a business; you have a website with some content.
As soon as you earn the first dollar you have the start of a business.
This is a small, but very important step.
Focus on The First Dollar
To earn the first dollar you have to focus on how your website is going to make money AND implement everything you need to take the cash.
This could be posting the first ad, finding your first affiliate partner, setting up payment processing for subscription, adding a shop with products or creating an order form for an event.
These are unfamiliar tasks for first-time entrepreneurs. They can be a challenge … and for some they can become an obstacle they never get passed.
For this reason the first dollar is more important than the hundredth, thousandth or even millionth!!
Conclusion
Planning is important, getting started is crucial, but earning the first dollar has got to be your focus.
When the first dollar drops into your bank account, buy yourself a bottle of Champagne.
Only then are you a entrepreneur with the potential to realise your dreams.