The Secret of Starting an Instantly Successful Business
During the 1980s, Peggy and I saw many businesses that went bust because the owners were fixated on growth. They sold out to venture capitalists, burned through money, and wound up owing their souls and owning nothing. We never borrowed money to make the business grow, so we owned the majority of it. (We had a partner with a small piece of it.) As a result, it was always profitable and we had something to sell.
Admittedly, none of these services was Amazon.com or Google or Yahoo or eBay that grew exponentially and is worth billions today. But they were all cash positive from day one, enormously valuable to subscribers and gave us a very pleasant lifestyle for the years that we ran them. Where most business start-ups fail within three years, these are still generating income and creating jobs after 23 years.
All of these were businesses that Peggy and I stumbled into—looking for some extra income to supplement our freelance copy and design.
They worked because we knew precisely who the audience was and they told us exactly what they wanted.
Coming shortly: “The Art and Science of the Dry Test.”