My brutally honest guidelines for starting a business

If you want to start a business to earn $1,000/month then read this carefully. Can't view this email properly? [View in Browser]() {NAME}, If you want to start a business to earn $1,000/month extra, or more — and you’re wondering what to even sell — then read this carefully: When I think about business ideas, I follow five brutally honest guidelines. These are so important, they form the foundation of everything I teach inside [Earnable Live, my proven system that’s helped thousands of people create a life-changing business](). [Earnable playbook GIF]() [EARNABLE LIVE IS OPEN NOW]() Guideline #1: You don’t need to do something brand-new When people hear the phrase “online business,” some think: Man, I have to come up with a billion-dollar, totally original app! But that’s not true. (I don’t want to keep you from inventing Uber for dogs, or whatever, but that’s a LOT of pressure to put on yourself.) Many business ideas already exist. Many markets are already crowded. That doesn’t mean there’s no space for you. In fact, a crowded market is an indicator of demand. Build what people want, and they’ll buy! Once you let go of needing to come up with something “totally original,” you’ll realize you can pursue dozens of great business ideas. They exist at the intersection of what you already know, and what people will pay for. You’re not looking for one amazing idea that no one’s ever thought of before. You’re looking for lots of ideas that make people say, “Hmm, I’d pay for that.” In tomorrow evening’s live class, I’ll show you how to find YOUR business ideas. [Click here to reserve your spot](). [How to create a second income stream in 2024 webinar.png]() Once you write a list of ideas, rapidly test them to see which could be profitable. Then pick your favorite. And with a pared-down process, you can make your first sale within a few weeks (or even days) "I followed the program pretty meticulously at the beginning, and had a paying client in 10 days."I followed the program pretty meticulously at the beginning, and had a paying client in 10 days. TEN DAYS. Before the program, I only had a vague idea about what I could even do. Three months later, I've more than made the cost of the program back." – CW Walker Guideline #2: Get honest about what’s stopping you A while back, a reader responded to one of my emails telling me all the reasons he wasn’t ready to start a business: “I don’t have time, I don’t have an idea…” You get the picture. He just emailed me again last week to tell me he’s still reading my emails. But now, “starting a business in this economy seems like an uphill battle.” No time, no idea, bad economy…hmm, maybe it’s not any of those. Maybe he just doesn’t want to start a business. And that’s OK! As long as he’s honest about it. Ramit looking dubious When one of my readers isn’t being completely honest There are plenty of ways to build your Rich Life. You can [start a business]() (this is my favorite way). Or you can [negotiate for a higher salary](). Or you can [get clear on how you want to use your money](). It’s up to you! But do acknowledge what’s stopping you. Otherwise, you won’t get anywhere. Guideline #3: Success doesn’t have to be a Ferrari I started building [Earnable Live]() 18 years ago. Back then, there weren’t many courses built to help people start online businesses. These days, there are a lot more. And they all promise the same things: Get rich fast! Jet-set to the Bahamas whenever you want! Buy a gorgeous red Ferrari that triggers a midlife crisis in your next-door neighbor! Tom Selleck in a Ferrari It helps if you’re also Tom Selleck. These are outlandish promises. They make it seem like if your business doesn’t succeed instantly, then…you might as well not even start. But that’s absurd. What if, to start, your new business made you an extra $1,000/month? Wouldn’t that make a material difference in your life? How about $3,000/month? And what if — 1 year after starting your business as a “side hustle” — you were making enough to quit your day job? Now that would be a huge success to most people. Guideline #4: Don’t be afraid of good problems Most people worry about failing. But some people actually fear success. They think… - Money changes people. (They’re right! Money allows you to dream bigger, be more generous, and be more adventurous. If you think that’s bad, that’s [a value you should question]().) - Success means being chained to your desk all day long. (NO! Having too many customers is a great problem. You can solve it by hiring, raising your prices, or doing both.) - Other people will envy their success. (To which I say: Are you really going to spend your whole life playing small because you’re afraid of looking successful?) Just like the people I worked with [on my Netflix show](), YOU get to choose what your Rich Life looks like. It could be buying your mom a house. Or taking a 6-week sabbatical every year. Or collecting comic books. For me, it originally meant being able to watch a movie in the middle of the day. You do you. Ramit and Cass on an 8 week trip More recently, my Rich Life is being able to travel for up to 8 weeks at a time while my business keeps humming in the background. Guideline #5: Embrace constraints Think of all the storefronts with expensive rent, inventory, and overhead. They’re under extreme pressure to make a certain dollar amount every day…or close for good. Keeping your costs low when you start a business gives you flexibility and freedom. That’s why Earnable Live teaches you to take what you know and turn it into a sellable product, without even building a website (at least not right away). Tech Tutorial walkthrough When it comes time to build your website, Earnable Live will walk you through that, too. Embrace your constraints! You don’t need expensive branding and fancy business cards. You need an idea that customers are happy to pay for. Keep it simple. By the way — yes, people are still paying for things. People spend money on entertainment. On learning. On convenience. On their families, their bodies, their homes, their work…the list goes on. Here’s a list of things I personally know people bought in the last 4 weeks: - Vegetarian meal prep class - Chess coaching - Virtual "shop your closet" personal styling session - [Money coaching]() If these 5 rules make sense to you, you’ll love my live online class tomorrow. [Click here to register](). [Signature] P.S. On January 11, our monthly call inside Earnable Live will feature student businesses going head to head in my Ultimate Business Showdown. The winner will be featured in the IWT newsletter. 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