Starting a business can be a daunting task, especially when it comes to generating revenue in the beginning. In this video, we discuss how to survive your first year in business. Setting yourself up for success in any business venture is very important, and sometimes, you may need to have a side hustle to help generate revenue to support your new business.
When I started my business, I did real estate sales on the side. I was a father of three, and my wife wasn't working, so it was important for me to provide for my family. Everyone has a different situation, but you should not expect to make big sums of money when you're first starting out. When possible, you should set aside money or have something that brings in revenue as you try to focus on building your new business. Availability is very important, so you're going to have to have some sort of side hustle that is flexible.
It would be hard to pull off a new business while working another 9-5 job. In my case, I would even buy and sell cars to make extra money when I wasn't doing real estate. This allowed me to fulfill any appointments my clients needed me for. I took advantage of all the free time I had to generate revenue. There are plenty of options like ride-sharing, delivering food, or whatever it takes to fill the gaps and generate additional revenue you need.
By the time I hit my six-month mark, I was making over $10,000 a month in my business. But I put in a lot of work to get to that point. I sent out emails, went to meetings, and did anything else I could to get my name out there and bring in new clients. I was fortunate enough to get a few really good customers onboard in the early stages of my business, which helped propel my business towards success.
This is why I think it's important to really try to target successful real estate teams and agents that do a decent amount of business when you're starting out. You want a solid customer base to set you up for success. If you can land some big clients, you'll be able to make good money and not have to rely so heavily on side hustles.
In conclusion, starting a business can be challenging, but with the right mindset and strategy, you can survive your first year. Having a side hustle to generate revenue, targeting successful clients, and putting in hard work can help set your business up for success. Don't be afraid to hustle and put in the extra work to achieve your goals. If you have any questions or need help starting your business, reach out and let us know. We'll see you in the next video.
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