Book Review: ReWork #3

ReWork #1
ReWork #2

GO

Make a dent in the universe – Do something that matters and make a difference, if you’re going to do anything.

Scratch your own itch – Create a product or service that you yourself would want to use.

Start making something – Turn your ideas into actually making something. Everybody has plenty of ideas. It’s about whether and how you apply your ideas.

No time is no excuse – There’s always an excuse not to start your business. Everybody can squeeze in a couple of hours a week.

Draw a line in the sand – Remember WHY you’re setting up your business and tell that story to the world.

Mission statement impossible – If you don’t believe and live what you stand for you shouldn’t pretend to. You need to be genuine.

Outside money is Plan Z – It’s not worth it to attract money from outsiders. Soon they will tell you what you need to do with your business.

You need less than you think – You don’t need all the fancy things, be frugal.

Start a business, not a startup – Startups are run by people who expect it to fail. Just start an actual business.

Building to flip is building to flop – Don’t be the guy who starts something and then quickly sells it off. You’ll regret it.

Less mass – Bigger is not better. Bigger costs a lot of time, money and headache. It makes your business less agile.

I did not apply some of the tips in this chapter. My side business does not really make a difference. Some other business ideas we have, do make a difference. I also didn’t scratch my own itch when starting my side business. I don’t use the stuff I sell. We did start making a website and sell things even we started off with a small stock. I’ll let you on in a little secret. I only ordered samples from my supplier the first time. It made the impression that I had a lot of stock, but there was only one piece of each item. This way my prospect customers were not disappointed by a small amount of goods to choose from and it made a rather professional impression right away. Time isn’t an excuses indeed. I started my side business while having a job and going to university. Instead of watching TV you could be out there creating a business and making money. I didn’t draw a line in the sand with this business, though. I am also sorry to say that I don’t really have a mission statement. I just sell stuff at competitive prices. Outside money was never an issue. I LOVE the frugal remark in this book and the authors will keep on telling to stay frugal. Music to our ears, right? I made some really frugal choices for my business. We use free software (OSCommerce) and I have the cheapest of cheap trays for my goods since customers won’t see those anyway. Also, I reuse things and keep track of things. I indeed started a business, and it’s fun! I certainly did not start the business in order to flip it. It has provided us with a solid income stream for over five years. I have no intention of trying to grow my business. I do not want to hire staff. It’s fine as it is. With our other business ideas we hope to do it the same way.

Love,

Mrs EconoWiser

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