Thinking of starting your own micro business? I want to take some of my real life experiences and package it in a readable, helpful format.
While this list is just the tip of the iceberg, it does reflect what I have found.
So, what have I learned so far? Money Matters First, as a builder of a micro business, you have to respect the very meaning of your own spot in the churning seas of finance.
Remember, you're not calling your business a micro business because it sounds cool.
(Although it does a little, right?) You are a micro business because you have little or no starting capital.
This means you have to keep your eyes open for all the low or no cost opportunities you can find.
You will need to size up your opportunities in terms of dollars and cents.
What is worth your time? Because of your low funds, you are forced to prioritize efficiency.
Not a bad skill to learn, by the way.
Being forced to spend your money wisely can be looked upon as a gift.
Creativity Matters Oddly enough, I believe the constraints of a low budget foster creativity.
There's a part of our brain that loves a good challenge.
This is a good thing for the micro business entrepreneur, because you are going to face challenges a plenty.
Don't lose hope though, these challenges steer you toward better ideas.
Because of struggle, not in spite of it, you will be forced to be creative.
If you can harness the power of that creative ability toward real tangible goals, you will have yourself an opportunity machine.
Simple enough really: Creativity=opportunity.
Friends/Partners Matter The micro business entrepreneur is our culture's modern cowboy.
You know the type.
These people embrace a rugged independence.
While it certainly takes an independent spirit and confidence to start a micro business, it is unwise to believe you can succeed on your own.
Certainly, there are the maverick types who will succeed.
I am not trying to undermine those people.
But micro business entrepreneurs needs to humble themselves to accept help.
Networking is powerful, no doubt.
I think, however, if you are going to start super-small, you will need to turn to friends and family.
These people are an incredible resource.
Don't set yourself up to abuse these relationships, but never underestimate their power and potential.
Motivation Matters Nothing comes easy, huh? No surprise there.
What will be surprising to the micro business type, however, is the kind of motivation it takes to do the work that needs to be done.
In my own experience, it is much more easy to be told what to do, to be given a list of responsibilities or requirements.
This list and the duties it implies are often given by your boss along with the consequences of the endeavor.
Meet the goals and you get paid or promoted.
Miss the goals and you deal with what the boss decides.
Easy system really.
In the micro business this is all thrown out the window.
You are responsible for the list, the duties, the responsibilities, the requirements and of course, the consequences.
What you will find most difficult, however, is maintaining your motivation to press on.
Those starting a micro business are often trying to create extra income or develop side projects.
To keep these projects moving forward you need the right motivation.
It will be beneficial for the micro business starter to examine those motivations.
Keep in mind what pushes you forward.
You will need to turn to that resource at some point.
Make sure you know where to find it.