7 Reasons Most People Should Build Lifestyle Businesses, Not Startups

[Dien Rice]

Originally Posted by Paul Wilson

The only thing I don't like about this type of article is that they really whet your appetite for an improved lifestyle via your own business but don't really get to the nuts and bolts of how to do just that...

I read the "4 hour work week" by TF and thought "yeah" I'd like that but it looks a lot easier in his book than it does in real life.

Sorry that comes off as being negative, wasn't meant too . Just sometimes I get frustrated that I'm not (at the moment) able to do what others seem capable of doing in their sleep almost.

Hi Paul,

I know what you mean...

The way I look at it, there are certain skills it really helps for your business to have...

One of the critical ones is sales skills. Many years ago, I asked Gordon Alexander for his advice on what I should do if I want to succeed in business.

He said, get a job in sales.

So, I did (eventually). I got a job selling comedy club tickets over the phone. This was pure cold calling to a phone book list! The tickets were heavily discounted tickets though (that was why people would buy).

For a comedy club, it helps to have a full audience. If the space is half-empty, then there is less laughter, and the comedy actually seems less funny. When there are more people, there is more laughter, and everything seems more funny (and more successful). When you think about it, it's the same reason that most TV comedies have "laugh tracks" (whether they are real, in front of a live audience, or "canned" laughter).

So, these discount tickets were to "fill" the place up. Others could buy full-price tickets. Then, if there were still tickets left a few days before the show, we'd try to sell them all by phone, so the place would be full on the night.

It was a "good deal" for everyone.

But man! Selling to a cold list straight out of the phone book isn't the easiest thing to do!

However, I learned a thing or two about selling by doing that. I learned from people here, I read books, and I tried to put it all into practice.

One thing I learned is that a lot of selling is about "emotion." If I was genuinely "excited" when I spoke to people on the phone, I sold more. If I was feeling and sounding "half-dead" - I sold virtually nothing, no matter how good a deal it was. Your authentic emotion makes a huge difference.

I believe people can "catch" your emotion (like "catching" a disease!). So, if you're genuinely "enthusiastic" - other people will be more likely to "catch it" and be enthusiastic, too. If you're "bored" - other people will start to feel bored too...

Anyway, selling is one of the important skills, I believe...

Knowing how to deal with money is another. If you can't do basic sums - you may sell a lot, but if you're losing on each item you sell because your calculations are wrong, it won't be long before you're out of business!

Every business also has one or more "specialized" skills... For example, if you have a computer repair business, the "specialized skill" is the ability to repair a computer. Your business still needs sales skills and finance-related skills, though, to succeed in the end.

You don't need to have all the skills yourself. However, your business needs to have all the skills. So, if you don't have all the skills yourself, you need other people in the business with the skills you need...

Well... I went off on a bit of a rant... Those are just a few thoughts on this crucial topic!

Best wishes,

Dien