Learning Entrepreneurship From Internet: Part 1

I'm grateful to have some spare time lately, and I started to think again about the things I'm doing and want to do. It has been awhile that I have discussed this with a close pal, and what we want to do is to own a business. There is no concrete plans in place, but some sketches in our mind. I have always stressed that money is not the problem, it is the thing inside our mind and heart is the stumbling block to do this. The golden word is Discipline.

While browsing through the internet for inspiration and motivation, I saw this website with an interesting name: My wife quit her job; Building wealth and entrepreneurship when your spouse wants to quit. I think he has given us a good starting point to our journey on being the own boss. I would like to do this for my wife too, and this is definitely not a sacrifice but a small gratitude.

He has written many interesting and useful articles, and some of the advices can be used to unblock our minds to move towards our aim. I will try my best to read up all his articles, and capture some of them in this post as a constant reminder for me.

Pointers:

> When it comes to my definition of success, I consider there to be four key considerations:

1. Am I earning more than my outgoings?
2. Are my earnings on an upwards trend?
3. Am I happy with my future prospects?
4. Am I happy with my day-to-day living?

> Simply having a good product isn’t enough. How effectively you put that product in front of the right people will define the success of your business.
 

> Almost all of my friends who started very successful companies all had this uncanny knack for staying focused and not getting sidetracked by minute details.

> Most of time, you don’t really need to know very many things in true depth unless it is one of the core competencies of your business. 

> What and how much they spent so start their business:

• Webhost by bluehost.com for $7/mth
• Shopping cart software for free
• Digital camera for $200
• Shipping material for free
• 2nd hand computer for $100
• Inventory for $322.90

> Building wealth requires planning, budgeting and an awareness of how money can work for itself. The sooner you can amass even a small amount of money, the easier it is to accumulate wealth in the long run. It all starts with the proper frame of mind.

This is just the first part of the content that I have read. Hopefully I don't waste this opportunity to be out of the treadmill, and earn something for myself based on my own effort. I can no longer afford to stay on as a NATO (No Action, Think Only) member.

Just before checking out, a humble thanks to the author of mywifequitherjob.com for the well written advices.