Chapter 14,
Zero to six figures in an intuitive way.
My choices reveal who I really am,
John Maxwell.
I never went to school for entrepreneurship.
Quite simply,
I never had any formal education on entrepreneurship.
Everything I learned was self-taught.
When I first started out,
I had no idea how to register a company,
Create a website,
Invoice,
Network,
Advertise,
Do bookkeeping,
Et cetera.
Every day I had to learn something new in order to stay open.
There were local programs assisting new startups with financing and business plan development for the first year in business,
But I was too impatient to begin.
I had no patience to spend months working on a business plan when I really wanted to self-finance and launch my company quickly.
In hindsight,
I'm curious as to how quickly I could have grown if I had taken this opportunity to learn and have extra financial help.
Maybe I would have stayed in my comfort zone if all my bills were taken care of.
I will never know.
My point is that for months before I started my company to every day since,
I am in constant learning and growth.
There's so much to learn in business that it will never end.
No one gave me steps to follow,
So I just had to trust myself and my intuition about what to do next.
I knew that fixed expenses would have killed me.
That is why I started,
And still today,
With having as many variable expenses as possible.
Once a contract has been signed,
From the comfort of my home office,
Only then would I purchase folders,
Gas to go to the client's office,
Memberships for lesson plans,
Etc.
I didn't want a brick and mortar store with its heavy leasing fees,
Payments for electricity,
Internet,
Phone,
Insurance,
And the list goes on.
I intuitively knew that slow and steady would win the race.
Every year,
I grew about 30%.
I kept my costs as low as possible and did almost everything myself.
I wanted a website,
So instead of paying someone to create it,
I did it myself.
Instead of hiring an administrative assistant,
I would reply to every email,
Phone call,
Create service offers,
And send invoices.
My expenses were extremely low,
And therefore my profits were high.
I am sure if I had a team early on,
I could have grown to exponential levels today.
But that was not my goal at the time.
I will touch upon that in the next chapter,
When I address the definition of success.
My definition was to create my dream lifestyle,
And that didn't mean managing lots of employees and having lots of fixed expenses.
I read that a staggering 50% of small businesses fail after five years in business,
And only about 30% of small businesses survive over 10 years in business.
These numbers alarmed me,
And I knew that I didn't want to be in those statistics of business owners that failed.
I wanted to succeed.
Influencing my intuition into the best business practices for me has helped my business grow surely and steadily.