How to start a SMALL business that doesn't FAIL and makes you financially free

How to start a SMALL business that doesn't FAIL and makes you financially free

[@ReenaDevi-Rajput41]

The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance

[@AudiobooksTopSkills]

Wish you luck and success in life.

[@8MinutesExplainer]

Here is what i like about this channel: 1 Gets straight to the point 2 No interruptions 3 Gives you all the information quickly 4 Doesn't drag on

[@XenosFiles]

Good sarcasm

[@movingforwardfco1587]

Amen.

[@loushio9037]

anyone reading comments don't waste your time on this vid - this was just 10 mins of metaphors - TLDR, learn to use other's specialties

[@Bike-em6js]

straight to point uh? ur funny

[@AudiobooksTopSkills]

Your comment is very accurate, thanks for commenting on this channel.

[@jeanalexandre1105]

Long story short. Teamwork make the dream work. Learn to use other people's skills. Specialized knowledge to get the job done.

[@andreiamuhitu159]

That wasn't the message

[@sun-ship]

​@@andreiamuhitu159yea lol. It's about systems.

[@gerryortiz6384]

Literally the complete opposite of what the central message of the video/book. Long story short set up systems so that you DON'T have to solely bank on people's skills, or at least not their "expert" skills.

[@alessandro4337]

You missed the whole point. Did you even listen?

[@ummati4826]

yes creat a system

[@ALPHA-ROTH]

"this place will fail without me" is the biggest lie any employee can tell themselves.

[@aryamanchanana3951]

tell that to Dennis Nedry from Jurassic park haha

[@jamesmakume2630]

I know companies that failed after my departure.

[@adeljemssi5813]

This might not be true in many cases. One of the start ups I used to work for failed after few months after my departure as pmo and cmo. Not because I was too special or too good to be replaced. Just because they buried me alive with so many responsibilities, not willing to invest in gradual scale of teams and not letting me do my job with a reasonable volume that enabled me to document everything for other people to be able to do my job in case of any future departure or even delegation. And other teams had bigger problems, because unlike me being so stupid and loyal, most left earlier and because of same problems couldn't be replaced, so it was an endless cycle of hiring and leaving because no one could just resume functioning as the previous guy nor accept the stupid load. So it didn't matter after all, I couldn't push it forward anymore, and I was getting crushed in the process, so I finally had to leave. Many people working in tech can say the same.

[@ALPHA-ROTH]

@adeljemssi5813 generally speaking. I can think of a couple of places where this would be true...but vast majority are just telling this to themselves to justify them leaving. It's just ego....most of the time anyway

[@m-2718]

It's often without a good replacment. My eployer got lucky with me. Funnly enough supposedly I was the only canditate too

[@michelleodell9220]

I started my business in 2019, survived 5 years now and make over 400k profit yearly. I started another business this year, it’s not off the ground yet but it’s wings are flapping :)

[@HardstuckFragger]

What business did you start in 2019??

[@michelleodell9220]

@@HardstuckFragger I opened a pet grooming salon.

[@BrokenButSeeking]

​@@michelleodell9220and can you please say in which country, how did you do market research to know you'll have customers, and did you hire employees straight away? Thank you.

[@Yourmsbella]

Hi Michelle I’m actually looking to open grooming in 2024 and would love some tips! It would be great if you can share your email or Instagram so I’m able to contact you!

[@liv7680]

I also started a service based business but im having trouble scaling up. We got 2 employees currently and I want to ask what did you do to grow your service based business? Did you open more locations or are you charging more? or a combination of both?

[@positiveAddiction1]

How i wish I had seen this video before starting my business in 2021. My business collapsed badly and I haven't been able to get back on my feet. However, over the years I have learnt a lot and this video summarizes all that i have learnt in 27mins. I will start again and I will do it right this time. Thank you so much for this insightful video and those who truly understand the video will forever be grateful.

[@RiddleRapture2930]

All the very best and congratulations for the success of your business in the future.

[@SummitVS]

What kind of business did you have? Just curious

[@AudiobooksTopSkills]

Keep it up my friend, I believe you will succeed.

[@farhanbudiman3911]

Im 22, have a 9-5 job and wanting to start a small business but i dont know how. im looking for "how to" and youtube show me this video, your vid clear my vision. Thank you, your video is great!

[@user-td6ou1ru7b]

My first million is a good podcast you should check out

[@ryhcky]

same age and same spot as you brother ! hope you do great things when you make the jump.

[@halaabuarja6266]

same boat

[@rohan.9956]

Same thing

[@horikatanifuji5038]

I'm almost the same... I started web design business at age 19, it recently failed, and I'm looking to relaunch this year, I will be 22 this month.

[@dool1002]

I'm confused about the video though. When starting a business, you are either an entrepreneur solving a need in the market or creating an existing as a business owner. They are not the same. The goal is to create a business system (ie. Online store, retail, stall, etc) that sells a specialized unit (ie. Skilled work, a product, book, license agreements, condo, etc). It's as simple as that. Sell something with a high margin or something that is repeatable like food or rentable units. Managers are employees to ensure the business systems stay operational and in an orderly manner. Directors are top-level managers. They solve complex issues relating to customers and management (ie. Complaint, employee issues, etc). The problem is you need to differentiate the roles of managers, entrepreneurs and business owners. They are all different roles. Entrepreneurs utilize human, financial, and capital resources to create and introduce a product, service, or system that solves a need in the marketplace, and they sell and market typically in a niche industry to fulfill demand. A technician, who has a valuable skill is just a specialized unit to the business.

[@pallavikumari12]

Wow super dope 👏

[@tuah3436]

arigato bro

[@AudiobooksTopSkills]

Thanks for sharing

[@Kashushu_IT_Services]

BEST AREAS TO PRIOTISE 1. Knowing the technical work of business, doesn't mean you can run and manage the company providing technical services/product. 2. Everything should be systemized along with how to manual-like user/employee manual in PDF/WORD FORMAT, Video Tutorials, Screenshots, Animations and voice guidelines (this is boring part, but it is absolutely necessary). 3. Any person like Herny/friends/young brothers and sisters needs more directions, needs to know how why they are doing what they do. I REALLY LIKE THIS PRESENTATION, BECAUSE IT REVEALS THE TRUTH ABOUT WHAT IS REALLY TO SMALL BUSINESS AND TO TECHNICIANS WHO STARTS BUSINESS. It doesn't matter, what is reason behind on your startup, doesn't mean you quited your job. But the best thing to consider is to take actions from what is recommended, because it is true and very very scary reality.

[@Imagination_Corner]

Business Success is 95% Mentality & 5% Strategy! Always Remember!! Every business has a potential to get success unless you don't have fire!

[@shodiyaemmanuel]

This video is one of the best video I'd watched on business so far. Though I've read the book, this video made me understand it more. Still coming back to watch. Thanks for explaining as humanly as possible.😊

[@topclanlive5443]

This is top quality stuff. Changed the way I view my business and the way I view myself. Absolutely fantastic.

[@fantasycraft-forge]

Love the video! Finally, someone is saying that running a business isn't for everyone. Honestly, I enjoy the struggle. Working on multiple things at once is ideal, and I prefer doing it without full-time employees if possible.

[@chriskiller-vw8bs]

OK THESE IS THE FRIST VIDEO I SAW FOR THE CHANNEL AND SO PERFECT I GAVE YOU 30 MIN YOU GAVE ME 5 YEARS OF EXPERIENCE THANK YOU I'M GONNA subscribe

[@AudiobooksTopSkills]

I agree with your opinion, just 30 minutes can solve a lot of problems for others. Thanks for sharing.

[@princenwaokike4687]

This is a business School standard lecture. Am. Glad I ran into this

[@TheGoat_LionelMessi]

You open the door in my mind towards the truth of business that unfortunately my university degree couldn't. That's why I paid them to teach me and wasted money on learning english, grammer and descriptive writing critical writing and so much more but not what i wanted Thank you so much ❤

[@AudiobooksTopSkills]

Learning is good, learn as much as you can my friend, learn knowledge while you still can.

[@onetinsoldiersadventure1917]

Yes.. started my "business" job a long time ago. Got to the adolescent phase, but I let my new "manager" crash the business because I needed to fail for the first time in my life. Now I'm not tied to it anymore and back to the drawing board as to how to develop an actual business. Not many entrepreneurship motivational videos show the actual practical methods to own a business.

[@sarfrazallam9171]

😅😅😅

[@TechNSaved]

I’ve created my business in 2022 but now currently stuck at $11k annually. Can’t seem to scale and stuck at the 9-5 during normal working hours. This video came right on time. 💯

[@super610]

You did not create this sentence in less than 55 seconds

[@jsihavealotofplaylists]

​@@super610how

[@TechNSaved]

@@super610 what?

[@Jesupemiabere]

You can do well to read the book too It'll change the way you think about building a business

[@platinumphonesandcomputers]

​@@Jesupemiabere which book is that

[@rajaghani8805]

As a small business owner, it's crucial to handle all the tasks yourself in the early stages to master the necessary skills. Without this hands-on experience, how can you ensure that the tasks you eventually delegate are done properly? Additionally, when you're just starting out, you often lack the capital and resources to hire employees, so taking on the work yourself is not just practical-it's essential. What are your thoughts?

[@kagezen]

This is by far one of the most eye opening videos about business that i have seen in a long time! Thank you soooo much!

[@pawanofficial7819]

One of the best video I have seen so far ❤ I now know what to do with my small business

[@HighonKnowledgePodcast]

Really interesting perspective. The truth about entrepreneurship - despite so many people dreaming of a life of doing whatever they like, whenever they like, however they like - it that it is Hard. Work! Many people simply give up, or are forced to give up before they can start making money, or simply loose their passion. This video doesn't sugarcoat that, but rather gives a straightforward and concise roadmap to avoid this. Excellent work!

[@lalithanagarajan1055]

Excellent video. From the start to end, I couldn't skip any part. No extra talk. Very concise but lucid . I like the video very much.

[@AudiobooksTopSkills]

A very elaborate video, you must have spent a lot of time on it, I always support your channel.

[@hildredscali1754]

Is there any small but lucrative business can you combine with a 9-5 job? I love my job so quitting is not an option but I need the extra income so bad.

[@marguritekostecki2194]

you need time to run any business, especially when starting out

[@dr.karidouglas1312]

I was in a similar dilemma two years back. A business may not be the right way to go about getting that extra money except you won't do the running of the business yourself. You should probably consider investing in stocks, ETF's or even Real Estates if you have the money. You don't necessarily need a lot of time for this and it is equally rewarding. You can even use the service of a financial expert and this way, you literally do nothing. I make close to twice my regular income this way and I plan to still own a business but much later when I'm ready to retire. Goodluck

[@planetsaver]

Nice... This makes a lot of sense... How did you start?.. How can I get an expert like you said?...

[@dr.karidouglas1312]

I don't really understand your first question. For the second, you should start by looking out for those from credible firms and good track records. You should also make sure the person is licensed. Personally, I use Kelly Matwick. She's good and you could also look her up.

[@Famez-pro]

Story of my life! I love my job but it doesn't cater for my all my needs

[@princessr6051]

Omg, thank u so much , this is the first video that I have watched that I feel like the creator was actually teaching something and wished me well. Most people just put words together that don't teach anything, like motivational speakers. I feel like am both the technician and entrepreneur, this video just gave me the confidence to go on with my entrepreneurial dreams

[@storm9492]

This video is awesome. Simplified everything for a beginner . Tnx

[@obimuo8471]

Very true. I am in the middle of the adolescent phase. Very challenging. But determined to move to the next phase. This lesson will speed up things.

[@nadeemkh100]

One of the best videos I've ever watched on KZbin

[@Aqualastic]

There is one thing sorely missed here. While manuals and SOP’s are essential for every worker to follow, their suggestions for improvements should form part of the system of a successful business. Excellent video, though.

[@ExecutiveAutomotiveSociety]

I laughed because it’s all true. In fact people used to tell me I was wrong. Now I realize they were all Technicians. 🤣👍🏻. Great video. I got a lot of new stuff and a lot of confirmation I’m doing it right. Really appreciate it. If I may suggest. KZbin is feeding commercials every 2 minutes in this video. The commercial were over 3 minutes long in sets of 2. Could you change the commercials to chapter breaks because I spent more time watching commercials than the actual video.

[@boyinavault]

What do you guys think about the fear of creating systems for your “competitive advantage” and then employees take it somewhere else and use it against you ?? By the way, this is an excellent video ! Subscribed !

[@munduaramariam317]

This video is what I needed, as an entrepreneur starting up a business, Thanks, I think am on the right track ❤❤❤

[@travelinghippiecare9855]

I’ve watched this video 5 times already today! Everything is settling in! I can’t believe how much I resonate with this! Great job! Amazing job! Thank you!

[@RT-eb6vo]

Awesome. I've just finished my second round and will definitely be coming back again. You are so right, this is one of the best videos on business IMHO.

[@warrenbradford2597]

Systems is what I am familiar with ever since was a kid. I can start my own business no problem by focusing on creating a system first. I am artistic visionary, after all.

[@asherpaul2185]

How

[@warrenbradford2597]

@@asherpaul2185 By focusing on getting the right people in the right positions first. I have to wait until I am ready to hire people to work for me.

[@santoshkumarbaliarsingh4564]

great video and great explanations thanks for posting. the best part is 14:04 😂😂 fully tired of managing everything on your own.

[@jeffryqo23]

Every time I see your videos start fixing problems im facing in my business 💪🏼 thanks im gonna read the whole book 📚

[@gauravsrivastava1892]

which types business you aredoing dude. please reply

[@BizBob2]

Nice basic video for start ups, new or as a reminder. Thanks!

[@roozbehkhakpour6462]

Literally the best KZbin channel I've subscribed

[@dilipchoudhary1652]

Making good pizza and doing business of pizza, both are different things...

[@ivanbuckingham2302]

Very good video. I had a business for 17 years and hated it. Why? Because the skill level of the technician was too high so I couldn't find enough staff to stop being a technician myself so instead of just running a business I had to work as a technician as well. Very stressful. My next business will be low skilled so staff are easier to find.

[@platinumphonesandcomputers]

This is my stage now 😢, what type of business was it

[@p_prags2]

Wow !!! Thanks for this knowledgeable video, it was very informative 👍🏻🧐

[@mohammedasif3626]

Indeed loaded with knowledge

[@mitchellfernando5190]

This is a great presentation in a shortest time. Really love how it was explained.

[@ardendba]

I just started my business I know what I want in 5 years but it is always refreshing to hear from someone else and I can always learn something else from it Thanks for the video and it is very informative video love it Subbed

[@dinajthakuri382]

Hey stranger let me tell your first business will not succeed like you think it will obviously fail but the important thing is you will learn a lot about marketing

[@flystraight7994]

Saved this vid. So mature. So rich. Thanks

[@EcomCarl]

Understanding and balancing the entrepreneur, manager, and technician aspects can significantly streamline operations and propel a business towards sustainable success. 👍

[@arij-said]

Great video. I've read a big section of the book, which is a great book, but your explanation made the concepts even easier to digest. Good job. Thanks!

[@muhammadtalhakhan7477]

I started my business in 2023 now I understand what was the mistakes I was keep doing it.

[@LiveForeverFitness]

I feel enlightened. Thank you ❤

[@ainsleyfrastructurekpopmashups]

This video is the best that I added it to my watch later playlist so that I can go back to this video everytime and then. I got some insights like entrepreneur is about innovation and solving problems. Finally, this video is helpful for me because it can help me prevent business failures, and belong to top 1% of business owners that run a business that doesn't fail for decades.

[@moham5585]

this is the best video that i have ever seen about business, keep going , and thank you so much for this amazing effort. 👏👏👏

[@jeffjolicoeur3182]

This channel binds the info from my other channels as if I discovered a magic adhesive

[@JordanHatch-oc3ql]

Like what

[@nimaasadinia8267]

Watch this video again i have payed a lot to understand these lessons and still paying and making mistakes in my own company

[@Quoteingo]

If you're feeling overwhelmed trying to do everything yourself, this video is for you. You're NOT alone!

[@IbnBatoot]

26:06 great summary for the video.

[@horiabodeanu7641]

Start small. Don't invest too much without returns. Reinvest the earned money. Be careful with the monthly costs. Always have short-mid-long goals. Avoid employees unless you know the work yourself

[@spade1476]

No risk, no Ferrari. Take calculated risks if you want to be different.

[@selvamanikandansivaramasan9854]

Well explained it helps me a lot Thanks

[@jonathons7241]

I tried reading the book. I could not get past the beginning section, but I love this video. Thank you for all your videos.

[@juliemarkham4332]

This was a really good review. I especially appreciate the summary at the end. 😊

[@BizBob2]

Good video with a good basic outline. Helpful to starters and good reminders for seasoned business owners.

[@DunBossNyakundi]

Best Summary Ever!!! woooah you are GOOD @ IT!. Thank YOU!

[@Theriseshow_semakulajohnbosco]

I really needed this at a time. Thanks so much 😊

[@zabos_]

You never dissapoint in your videos, no bullshit, just usefull infirmations

[@yonesroohi2684]

Thanks a random women on the internet now im going to clean my room👍

[@ShephardInvestments-o9z]

If you don't believe in your heart and mind that you will succeed in your business, you will fail every time. Your mindset is as important as your level of knowledge.

[@taylornieves5420]

This is based on the book The E Myth (the myth of the entrepreneur) a short, valuable read

[@Kurban0110]

I just started my business and this video right on time

[@amancca]

I'm entrepreneur in adolescence way you explained. I don't even care about money, I live with family. But to start as a mature you have to own degree, get investment, have credibility etc. We know Elon musk don't started as a mature business. It's not he is not entrepreneur but because of everything I mentioned

[@afrasiabiamirali5520]

Brilliant presentation. Thanks for your useful content

[@trickstercow1621]

Summery - The video is based on the book 'The E Myth Revisited' by Michael E. Gerber. In a nutshell It talks about how most buisness fail and what to do about it. The video divides the book into parts- Part_A- The Fatal Assumption. The assumption that one understands the technical work of a business then he also understand the business that does that technical work. Example - Just because u are a good editor doesn't it means that u know how to create and run a video editing company. Part_B- The Entrepreneur, Manager and Technician. To sum this up the 3 major part of your thinking process - 1. Entrepreneur- Visionary (They dream) 2. Manager- Smooth operation and order (worried about everything) 3. Technician- focus on immediate task (gets the job done) Part_C- 3 Phase of Business 1. The Technicians Phase- The 24*365 day job- This is how most of the business start, you are now going to be doing all of the work inside your business all alone to which you have mental limits so starts the next phase. 2. The managers phase- This is where most of the company's fail. You hire people and fully depend on them that they start interfering with the vision of the company which leads to caos leading to demise. 3. The Maturity Phase- Having a clear picture of what the company would be when finished and sticking to it is the key to the managers phase, by acting like a big company before being one. Ie. generating a business model that allows the entrepreneur within you to do what needs to be done while satisfying the needs of the technician and manager, This model is called Franchise Prototype. Part_D- Franchise Prototype. To work on your business, such that I will work without your interference and it can be replicated anywhere to provide the same quality and quantity of product. You need to create a system-depended business such that any low experienced employee can also produce the same product. To create this you need a step by step procedure for the employee to follow which the author terms as a business development process. Part_E. Business Development Process. This part consists of 3 steps- A. Innovation - It is to think about what systems can we improve in our business to help out customers? Ie. To improve on the way your business operates, not changing the product. B. Quantification - This is where we can check whether the innovation step worked, by keeping a short record of performance after and before making the changes. C. Orchestration - it is the solution generated from combining the results of innovation and quantification.

[@X5l00d_]

Tips for starting business online

[@minhsonvu9378]

So to combine the entrepreneur, the manager and the technician I will visualise the final destination, then the journey to come there will pop up, and I will schedule things little by little to fit that journey. Am I on the right track? Thank you guys.

[@hamsekayse9588]

I felt this video is talking about my business. I really appreciate the great job you have done for every entrepreneur❤

[@rameshsharma1398]

Wow, what an enthralling and illustrative business launch tutorial. 100s of thanks. U just forced me to subscribe to your channel --- happily. BTW, Thanks KZbin for popping up this useful subject episode. All the best

[@Getbetter2023]

It was so informative, especially the first part opened my eyes 🙏

[@map_of_africa.54]

How can you create a business that doesn't fail, run smoothly and give you the time and money to enjoy life? . . . I wrote this question so that every morning I'll read it and think about it

[@TheCommonFolk]

Great video! Thank you!

[@BizBob2]

Good basic video - problem and solution.

[@harishyandapalli3250]

This is an amazing informative video. Thank you!!

[@elliemeyer9164]

Love this video, anumated with a clear voice! thanx for your time and efforts 😊

[@KisanduWebWizard]

wow, so much helpful.

[@divinasnider8136]

Fantastic breakdown, thank you!

[@aamirbusinessconsultant]

Really appreciate ❤

[@mlubwama]

This is amazing. Thanks for posting.

[@ekahal9652]

This is all good but you need lot of finance to test your theories and to start with a team you need lot of finance before your business starts to finance yourself. So my question is how do you finance the business that is independent on system and not your work?

[@kristopherleslie8343]

The ego of thinking a business will fail without me is a bad one. Remember history often repeats itself. Businesses often fail due to poor leadership.

[@niallstallard5936]

Great video, Both re-affirms what I knew and added new useful and usable knowledge. Systems scale/survive/thrive.

[@RizwanMujawar]

Another great video! Thank You. 🙏

[@LucasBenjamin-hv7sk]

I wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix-- Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. I played with the stock market sometime in 2020, and I was surprised at how well it turned out. I want to put in $90k more into the market. I heard people are making really great returns despite the downturn. Any recommendations?

[@lowcostfresh2266]

Avert too-good-to-be-true con tricks. Consult a fiduciary counselor; these professionals are among the best in the business and offer individualized guidance to clients based on their risk tolerance. There are undesirable ones, but some with a solid track record can be excellent.

[@hasede-lg9hj]

Yes, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k

[@LucasBenjamin-hv7sk]

@@hasede-lg9hj How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

[@LucasBenjamin-hv7sk]

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

[@hasede-lg9hj]

Annette Marie Holt is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@kelleykeffer6249]

Sigh. This hit me hard . Like really hard . I’m a year in. I’m not failing , but I’m by myself . HVAC. Killing myself and I’m at the point I have to hire . But then my prices go up, more responsibility for likely the same money I’m making now . I’m run down. Beat up.

[@muadiib]

I am definitely a technician. But, as an Industrial Engineer I am able to look at the whole system and am able to do the managers job easy. As far as the entrepreneur goes, I'm not quite imaginative but It's not hard to find a necessary business these days that doesn't require a lot of imagination.

[@tylerhagl7190]

The only problem with this, is that this doesn't actually work for ALL business types... For example, this isn't possible for Entertainment Media businesses, it doesn't work for Broadcast Businesses, it doesn't work for Event Planning/Production businesses, as these types of businesses all do things differently based on a person's ideas. No two audio engineers make two identical tracks, no two film directors would make two identical films. No two Event Planners or Promoters would plan, promote and produce an event the same. systems are great, but there are certain industries in which this kind of thinking just doesn't work.

[@niroshansubash838]

Wow.. gave me a new perspective 🎉

[@innerworkpodcast9929]

Thank u so much helped alot

[@jesusisaiasjuarezpadron3086]

Thank you so much for sharing great information 🙏🏻

[@_NAANMIBAWA_]

Thank you, this video was so insightful

[@amilsongarcia4775]

needed this!

[@craigfuqua4519]

The E Myth book is the best small business book I ever read.