What is the most efficient way to start a small business?

[Madona]

The approach to implementing this concept in your startup may vary depending on your business model, but here are some suggestions:

1. Pre-sell your products or services to get a down payment or collect payment upfront and ship later. This will help you generate cash quickly and use OPM to pay for fixed costs and hire talented people.

2. Don't get complacent once you have enough sales to meet your needs. Keep selling because most entrepreneurs tend to stop once they reach a certain point. This is a dangerous mistake, and you must keep pushing forward.

3. If possible, extend the delivery time of your product or service. For instance, if you require 30 days to complete a website, ask for 45 or 60 days. This will allow you to continue selling while giving you extra time to complete your work to an exceptional standard.

4. Last but not least, focus on scaling your business last. This means avoiding spending all your time and money on developing your product, building a website, creating logos, taking glamour shots, or other non-essential activities. Many entrepreneurs make this mistake and never generate any revenue. Instead, focus on generating sales and scaling up later.