Here I am, two years in "playing" entrepreneur and frankly failing. I want to share exactly how to waste money/time so you can avoid the pitfalls that I succumbed to:
Here's what you should do to guarantee wasting two years and money. I've quantified both elements for you
Total money wasted: $4,150
What if I would have invested all of this time and money in doing just one simple thing that actually moved the needle vs. made me feel like I was running a business?
Game over...I just killed the inner wanna be. Time to take action. I hope I saved someone else some time and/or money.
K
Here's what you should do to guarantee wasting two years and money. I've quantified both elements for you
- Form an Llc before you have paying customers $500 + 4 hours
- Hire someone on elance to conduct industry research: $450 + 2 hours
- Build a killer website: $2,000 + 2 weeks of tuning
- Design and order business cards: $50 + 2 hours
- Order checks $100 + 1 hour
- Order envelopes $75 + 1 hour
- Buy (and laboriously research) tax accounting app $200 + 8 hours
- Open a bank account $0 + 2 hours
- Get an EIN $25 + 1 hour
- Hire an accountant to do taxes $250 + 4 hours
- Get a merchant account $0 + 1 hour
- Get a really cool stamp for depositing checks
- Buy some BS courses $500 + 2 weeks
- Download tons of free content and consume it in the car, at night and any other downtime $0 + 6 months
Total money wasted: $4,150
What if I would have invested all of this time and money in doing just one simple thing that actually moved the needle vs. made me feel like I was running a business?
Game over...I just killed the inner wanna be. Time to take action. I hope I saved someone else some time and/or money.
K
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