What to expect?
With this entry I start a new series of blog posts about my journey in (*slavic accent on*) BIG BIZNIS (*slavic accent off*). This is a journey for me and by no means do I have all solutions or a fool-proof way how to do things. Therefore, take this series for what it is: It’s me sharing my experience and hopefully it can give you some ideas how to do things or which pitfalls to avoid. In this post I will tell you how I decided, which business to pursue (shocker) and what filters you could use to do the same. Enjoy!
What do I do?
Great question. The easy answer: go to my website.
A little bit more context: At the the end of last year (2022) I decided I want to offer a personal 3D printing service in my city. It was important to me to build an online presence. Most business are processed online and the ones who are not most likely should. Also, I think the inhibition treshold to buy or at least try something new is much lower in the internet. It’s less binding (or at least feels like it). So, for about 3-4 months I taught myself how to build a website and did exactly that (next to work and study – otherwhise it would not have taken me so long). An interesting topic which is definitely worthy a blog post itself.
Ater that I reached out to good buddy of mine, who also happens to be an architect. I decided that for the beginning I specifically want to reach out to architecture offices. My friend gave me a model of an apartment building his firm has been working on. I made a few test prints until I achieved a satisfying result. For about a week my service is open for customers. However, I haven’t got any yet, what comes to no surprise considering I haven’t really promoted my service. For this very reason I will make some calls to architecture offices this week. Also, I’m working on a little freebie I could send to potential customers, so they do have a reminder of my service even when they do need to print something right at the moment.
How to decide (or T.E.E.)
I just followed Ali Abdhal’s advice and campe up with an acronym, so the following will stick more easily: Time. Expertise. Excitement. Or: T.E.E.
T – Time
First, I recommend you to look into these readings:
- The 4-Hour Work Week by Tim Ferriss
- Small Giants by Bo Burlingham
- 1’000 True Fans (blog post) by Kevin Kelly
Above all, I really recommend ‘The 4-Hour Work Week’. The book has almost 400 pages, but it’s worth it. If you’re basis is zero you should start there and not start opening a busines before you have read it.
I just tested you… How was your reaction, when I told you, you need to read this 400 pages? If it was: I haven’t got the time. Let me tell you something. If you do not have the time to read a couple of hundred pages, maybe you shouldn’t build a business in the first place. This is one of the very first lessons I learned from Tim Ferriss (in this YT video to be specific) and I think everybody should take it to heart.
Yeah true, I do not have a lot time myself. However, that’s why I chose a business, which I knew the time input would be manageable. And nevertheless, I did take quite some time to do my research and read books and articles about business. As an extra I very much recommend Alex Hormozi’s YT channel. Besides all the BS advice there is on the internet, I do trust Alex’s advice, since I he knows what he’s talking about from personal experience and he doesn’t want to sell you something (unless you already do have 3 million dollar business).
E – Expertise
Certainly, you need some kind of expertise in the field you want to build a business in. Seems obvious, right? Anyhow, I considered for a very long time two other business projects. The first idea was an app in the fitness domain, which I thought could be handy for athlethes and gyms. The other idea was a pretty complex, but neat solution for NFTs. Both ideas were very intriguing to me. I saw so much potential in these projects. The problem: Both projects require a pretty deep understanding of computer science, which I do not have. I mean I now a little bit about it. Once, I even made my very own number generator app (it is even available in the Google Play Store), but this project would be much more complex.
Sure, I’m all in for learning, but building a business itself is already a quite steep learning curve. You do not need to put more stones in your way as there already are. Also, next to my other obligations (study in mechanical engineering and work) I simply don’t have the time to learn app development let alone the complexities behind the NFT technology. However, I do know naturally a lot about 3D printing. Firstly, it’s a hobby of mine and secondly, it is (or was) part of some of my lectures.
E – Excitement
And last but not least, you do need excitement for your business project. Otherwise, what’s the point of doing it anyhow? You could just do any other job and it would be more promising. Excitement for your project will carry you through the hard and/or boring times.
I know these points all seem kind of obvious. Nevertheless, it helped me to decided which business to pursue. Which leads to another important point.
Decide!
It doesn’t matter how excited about all the different ideas you have. Pursue one. If you read this, you most likely do not have any idea what it means to build a business, what could happen, what your day-to-day will look like, if you will enjoy it in half a year, a year nor in five years. There are so many unknown variables already in building one business. Pursuing more than one business will scatter your focus and you wouldn’t give each of your ideas the chance of success they deserve.
In addition, be fully aware that your excitement can shift. It won’t be all sunshine and rainbows. You’re trying to build your very own little house, where you will work and spend a good time of your live in if it works out. Just make sure it isn’t a prison you build.
