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Ramit Sethi is an American entrepreneur and author who specializes in the ability to teach others to be rich.
Starting your own small business will come with a million to-do lists, investment strategies and piles of paperwork.
Rule 1: People Buy All Kinds of Stuff!
Dont rule out niche markets when it comes to areas where your business can succeed.
In the United States, capitalism is the biggest belief system, and there is no shortage of options.
Then imagine how many things you already know people would pay for.
Parents happily spend money on their kids.
We spend money on our own entertainment and self-improvement.
We make impulse purchases for things that we want or think we need.
No matter the state of the economy, there will always be people happily spending money.
Dont necessarily focus on the destination but more on the process of how to get there.
Maybe you just dont want to start a business.
But be honest with yourself.
Though imitation may be the highest form of flattery, it can also help with profitability.
Sethi said, Lots of other people have figured some of the hard parts of starting a business out.
Give yourself every advantage to save time and avoid common mistakes!
Here are three examples Sethi outlined.
Sethi said, Keeping your costs low gives you flexibility and freedom.
Think no expensive rent, no expensive inventory and low overhead!
You dont need the perfect business with the most beautiful website.
Sethi advised, Most of us worry about all the things that could go wrong.
Try turning that around for once.
It also helps prepare you for dealing with a successful business when the time comes.
Sethi asked, How long have you been reading my emails?
How long have you been trying to figure it out?
If you want to start a business, put time and money behind it.
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