Your missing component is your values, skill sets, and bringing value to the marketplace.
If you have the character values in the skill sets you will identify value that can be brought to the marketplace whether in the form of a service or a product.
Then you sell and buy. If you have money you can buy and sell.
Buying and selling are skill sets that need to be well-developed.
I started my company with very well developed skill sets and values. I identified value to bring to the marketplace. Then I went out and sold, collected the money, manufactured and bought, and then delivered.
During that process I padded everything so that I could build up a small inventory that progressively grew over time. That allowed me to go out and target small customers that would be reoccurring purchases. Overtime I gained more and more individual small customers and at times I had to greatly increase my manufacturing capabilities as well as my inventory on hand so I would find another large customer and I would sell and then buy.
Over the years I’ve switched now to just buying and selling.
I didn’t have a phone, computer, money, or even a car when I started my business. I had six children that quickly grew to 10 when I met my now wife, and I lived in a borrowed 28-ft camper while going through a nasty divorce. I had a job that made about 50 grand a year, but I was paying over 50% of my income before taxes to child support.
I borrowed $150 and bummed a ride from my now wife who is then my girlfriend on my lunch break to go into Dallas and set up a general partnership and open a Chase business checking account with the balance of the money. Went online and got a free EIN number and applied for a tax resale certificate. I used Canva to build flyers for my products utilizing pictures of my competitor’s products. I built my pricing in terms based off of my efforts with identifying and establishing manufacturing facilities overseas.
Then I spent years and years and years and years cold calling tens of thousands of individual shops and dealerships in OEMs around the country and the world and building my customer base. Still to this day I’m doing cold calling. I’m proud to say that we control the majority market share for niche of commercial truck parts in America and a strong double digit percentage of the global market and it’s growing faster and faster.
At some point soon we’re going to hit the cap of total market so last year I diversified into a second niche of products that took capital to get started and is much more competitive globally but also has a multi-billion dollar market cap versus maybe 150 to 200 million dollar market cap in my primary niche of commercial truck parts.
Our primary niche is in the strong eight figures with eight figure net profits. Our secondary niche is in the five-figure range about to break into the six figure range finally.
Once you get moving you have to master the mundane and daily do the tasks that are repetitive yet critical to growth and scaling. Downsize your life and try not to take anything out of your business until you absolutely have to or told to by your CPA.
Find ways to keep your personal overhead sustained while doing all of this.
Realize that only seven or eight percent of Americans are entrepreneurs and only 1% at most of that 8% succeed. It is the hardest path that you can choose to make money in most will fail due to lack of values, skill sets, and the ability to identify a value to bring to the marketplace.
The missing component is not money.
Your missing component is your values, skill sets, and bringing value to the marketplace.
If you have the character values in the skill sets you will identify value that can be brought to the marketplace whether in the form of a service or a product.
Then you sell and buy. If you have money you can buy and sell.
Buying and selling are skill sets that need to be well-developed.
I started my company with very well developed skill sets and values. I identified value to bring to the marketplace. Then I went out and sold, collected the money, manufactured and bought, and then delivered.
During that process I padded everything so that I could build up a small inventory that progressively grew over time. That allowed me to go out and target small customers that would be reoccurring purchases. Overtime I gained more and more individual small customers and at times I had to greatly increase my manufacturing capabilities as well as my inventory on hand so I would find another large customer and I would sell and then buy.
Over the years I’ve switched now to just buying and selling.
I didn’t have a phone, computer, money, or even a car when I started my business. I had six children that quickly grew to 10 when I met my now wife, and I lived in a borrowed 28-ft camper while going through a nasty divorce. I had a job that made about 50 grand a year, but I was paying over 50% of my income before taxes to child support.
I borrowed $150 and bummed a ride from my now wife who is then my girlfriend on my lunch break to go into Dallas and set up a general partnership and open a Chase business checking account with the balance of the money. Went online and got a free EIN number and applied for a tax resale certificate. I used Canva to build flyers for my products utilizing pictures of my competitor’s products. I built my pricing in terms based off of my efforts with identifying and establishing manufacturing facilities overseas.
Then I spent years and years and years and years cold calling tens of thousands of individual shops and dealerships in OEMs around the country and the world and building my customer base. Still to this day I’m doing cold calling. I’m proud to say that we control the majority market share for niche of commercial truck parts in America and a strong double digit percentage of the global market and it’s growing faster and faster.
At some point soon we’re going to hit the cap of total market so last year I diversified into a second niche of products that took capital to get started and is much more competitive globally but also has a multi-billion dollar market cap versus maybe 150 to 200 million dollar market cap in my primary niche of commercial truck parts.
Our primary niche is in the strong eight figures with eight figure net profits. Our secondary niche is in the five-figure range about to break into the six figure range finally.
Once you get moving you have to master the mundane and daily do the tasks that are repetitive yet critical to growth and scaling. Downsize your life and try not to take anything out of your business until you absolutely have to or told to by your CPA.
Find ways to keep your personal overhead sustained while doing all of this.
Realize that only seven or eight percent of Americans are entrepreneurs and only 1% at most of that 8% succeed. It is the hardest path that you can choose to make money in most will fail due to lack of values, skill sets, and the ability to identify a value to bring to the marketplace.
It’s totally worth it though.