Part 2: 4 Things to Do When Starting Over

by on Mar 26 2016

Here's a follow up to my first video about starting over: specifically, how would I start over if I had some money to invest in my new business? And same situation, but if I had almost no money. Here's how I'd tackle each scenario…

SUMMARY

Money (and the abundance or lack of it) plays an important role in nearly every decision we make in life. When it comes to starting a business from scratch, here's what you want to keep in mind if you have no money, or if money is not an issue.

First, as a general rule:

1. Start publishing, in any format (blog, podcast, video, etc.)
2. Build an email list.
3. Connect with influencers.
4. Get out to live events.

You can gain a deeper insight into these four tactics in this: http://jeffwalker.com/start-over/.

The No-Money Factor

A lack of money should never deter you from achieving what you want. Yes, it'll be harder. Yes, it'll take more time. Most importantly, yes, it's doable.

1. Use free apps and websites. There are plenty from which to publish and build your email list. If your budget allows for minimal expenses, there are low-cost alternatives, with a few bells and whistles added on.

2. Be a good detective. You'll find influencers where they can best connect with their tribe. Find their favorite social sites and join in the conversation. Be particularly mindful of newer or less traveled sites. Influencers tend to be early adopters and you may be surprised to find your favorite influencer in these less crowded venues.

3. Be resourceful. Attending live events could be a challenge if you have no money, but challenges are what bring out the resourcefulness of the entrepreneurial spirit. When you make up your mind that you want to be at a particular event, you will find a way to make it happen.

4. Find or keep your day job. Dreamer or idealist, the successful entrepreneur is grounded in reality. Work first to put food on the table. Spend your “off hours” building your business.

Flush With Cash

Having money to invest in a business can be a blessing or a curse. It all depends on how you invest it.

1. Avoid temptation. Don't get caught up in business bling. Don't build more than you need. Do only what's necessary to start making money.

2. Invest in paid advertising. Drive traffic to your site. Get visitors to opt in. Start feeding them great content. Make them an offer using the principles of the Product Launch Formula.

3. Make your first sale. Get to dollar one. Do that and you'll have your proof of concept. You've now graduated from a plan on paper to a (hopefully) sustainable business.

4. Build your team. Sometimes, doing it all yourself is a necessity. If you have extra cash, start building a small support team. A virtual assistant who can handle general tasks and a customer support person would be a good place to start.

Did you ever have to start over? Please share what it was like and how you handled it…

31 Comments

  • If you want to succeed quickly online, you MUST start building your list from Day one. That is the best way to go. For example, Neil Patel made over $40,000 just be sending out one simple email.

    The starting point is email and MailChimp is FREE. What a great Video,Jeff.

    • Fiona says:

      Hi Johnson,

      Thanks for your insightful message.

      Do you think that it is ok to start building list without a website (I’ll be crating mine as soon as possible). I have a Leadpages account so can just start using that.

      Also, I have a new fb page and instagram account for my biz and have just started writing for the HuffPost. So that saying do you think I can start building my list now without a website?

      Kind regards,
      Fiona

      • Hi Fiona

        Based on Jeff’s advice in PLF I started building my list straight away. I didn’t have a website. I just had a landing page, a lead magnet and an email management system.

        You could definitely be sending your FB and Insta followers, not to mention HuffPost followers straight to a landing page with an awesome free lead magnet and start building your list!

      • Hey Fiona,

        It’s great that you are on social media and even more important you are doing guest posts. But just a word of caution…. they’re rented property. And you get a limited freedom to work with them. You do anything to upset the owner you to lose all your hard work. Because they won’t think twice about shutting down your page / account.

        I know setting up a website n blog is a lot of work. But try to at least get a domain and hosting and set up your leadpages funnel there.

        Let me know if you need any help.

      • Ann Manatt says:

        Fiona, I have done all of this with no website and only Leadpages.

  • Thanks Jeff. You have inspired a South African

  • Nikki Curry says:

    Jeff
    Thank you for giving us simple and doable action steps we can use in our businesses. It just makes things so much easier. ~Nikki Curry

  • Zaza says:

    Loving it! alwayys insightful to watch you Jeff

  • ameena says:

    I totally agree with these suggestions. The biggest learning experience for me was networking with the movers and shakers in the industry and that made a difference in my book sales.

    • Fiona says:

      Hi Ameena,

      Thanks for this knowledge! Much appreciated! Do you know how best to start creating the relationships? I don’t have a website yet but will soon.

      Thanks in advance.
      Kind regards.
      Fiona

  • Preston Long-Lamoureux says:

    I’m a noob here and am finding it hard to build my list. What is the easiest way for a beginner to start building a list ?

    • Organically. Start publishing content. Have a lead magnet to get people onto your list. Use social media to drive people back to your list. The social media gurus I’m following talk about focusing on 2 social media platforms to really get some visibility. And to automate other things e.g. Twitter. And of course participate in other forums/groups/wherever your target audience hangs out and just give awesome value time after time.

  • jeffrey paul says:

    Jeff how true about over building before $1! It is like a never ending money pit. Thanks for the reminder to go after value and then the offer to create revenue and feedback to build from what my audience wants and needs rather than in the vacuum of the workshop of our offices and minds. jp

  • Sharon says:

    Thanks Jeff! Great advice!

  • Sharnee says:

    Great post, thanks Jeff, Sharnee

  • Rory Peters says:

    Great advice. I really enjoyed PLF and I’m enjoying your video blog. I’m looking forward to doing my first launch next month.

  • Joanna says:

    Jeff! Thank you for adding such value through this video. I have been hearing from a variety of people about doing these four things, but you are the first person to put them ALL together. Woop Woop!

  • Marc says:

    I love all your work Jeff. I also enjoyed your book that much I uploaded it to my must buy books page.
    Ps. My dads called Jeff too.

    Talk soon.
    Marc.

  • Great re-cap on what you share with PLF. Publish. Email List. Create connections with influences. Live Events.
    Love that you can start this with no money as I’m a full time stay at home mama to a toddler so time and money isn’t rolling in (yet!). But with your practical straight forward tips I just keep doing a little bit each day and I’m seeing a lot of progress already 🙂

  • Iva says:

    Love this one: ” Get to $1″ !!!

  • Louise says:

    Hi Jeff

    Great video. You kept it simple. We can replicate simple. Thank you

  • Hi Jeff,
    I really started reading your blog recently. Love the way you explain the complex things, making it sound so easy. With n without money, two different scenarios. I’m in the without group. And it’s really hard on a shoestring budget.

    I am adding this to my Buffer stream.

  • Myrko Thum says:

    Getting the first dollar is great advice. I personally did the same mistake of developing a product over a period of a whole year, then noticed that it wasn’t were I wanted it to be.

    In fact, my whole market selection wasn’t were I thought it would be. Making sure your market is hungry to buy is the #1 advice from me now. And the easiest way to see if you have a good market is by making your first sales fast.

    You can offer coaching, consulting or a small offer (maybe with coaching as an upsell to verify that people would spend more as well).

  • Iva says:

    Great advice, Jeff! Thank you 🙂

  • Todd Faulk says:

    Thanks, Jeff, for the encouraging video! I’ve been floundering a bit in driving traffic to my site, and your suggestion to “get to dollar one” struck a chord with me. I like the idea of investing in a small-scale PPC campaign first rather than relying solely on organic search to build traffic. Seeing that first dollar or first sale would provide the “proof of concept”–and encouragement–I’m looking for. Thanks again!

    –Todd

  • Vicki says:

    I have started over more times than I would like to count, in terms of what I was actually doing and the job that I was doing. Starting over again- new market-new needs and new ways of doing it all. this time I have more tools to use to be successful thanks to all of your information

  • Dmit says:

    I totally agree with these suggestions. Thanks for a useful and detailed article.

  • Cedric says:

    Hi jeff,

    I just love the summary you wrote down besides the video, everything is here, thanks a lot 😉

  • Dan says:

    Great advice Jeff! One thing that I would add to that is feeding your children’s minds with the kinds of thoughts that they will keep with them for life like doing daily affirmations about the things that will really matter.

    Thanks a million!

  • Ian Wilson says:

    Thanks, Jeff. When my father passed away last year, I vowed to make the most of the inheritance he left me. I’m seeing the idea of investing in my business, per your suggestions and others, as a way to honour his gift.

    Looking forward to seeing you in Phoenix.

    Cheers, Ian.

  • Shaun says:

    Hey Jeff!
    I love your strategies to grow an email list.
    I am personally guilt to take a lot of courses, way too much courses I would say.
    But you are right, I should focus on just what I need to start making money online and start from there.
    Awesome advise!

    Cheers Jeff

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