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5 Important Keys to Bootstrap Your Entrepreneurship

5 Important Keys to Bootstrap Your Entrepreneurship

Getting a website on the net as a novice isn’t exactly cake. It requires registering a domain name (example.com), hiring a web designer, and paying a monthly fee to host the site. A content management system is also preferable over paying a web designer hourly to make updates when he can fit it into his schedule. Therefore, a website can run several thousand dollars not including the monthly hosting fee or the occasional updates. These are the reasons that paved the way for me to separate myself from the rat race and become an entrepreneur. I decided to create a web-based application called Posima.com that does all of the above for a low monthly fee. I hired 4 contractors from 4 different countries to complete all the necessary work for the project. I’ve learned many things over the course of the past 14 months, but have 5 suggestions I would like to pass on to any entrepreneurs who are ready for battle.


1. Don’t Panic
Panicking is overrated and doesn’t help anybody do anything. If you are buried alive in a coffin, you will use air less quickly and have a better chance of surviving by keeping a calm head vs. panicking. I’ve had contractors try to quit on me or turn MIA for weeks at a time. At first I flipped out, and flipped out often. But I realized that it wasn’t the end of the world and I’d figure out how to get the work done one way or another. Panicking wasted valuable time I could have been utilizing elsewhere. If a problem arises that needs a fast solution, panicking will do nothing but burn up your remaining air.

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2. Reframe problems
I got this from a book about Alexander the Great. Reframing means find the correct problem first then follow with the proper solution. For example, during the sales process my host told me I could do “x” with my shared hosting account. Later I clarified with support how to accomplish “x.” Once “x” started being done, my host shut down my account saying I was taking up too much of the shared servers resources. I started talking with a lawyer, compiled all the conversations where the company said “x” was OK, etc etc. Upon further review I decided going this route was a bad idea, it would cost money and headache with no obvious solution. I originally thought the problem was the host lying to me. The real problem was that “x” needed to be in working order for me to continue. I solved the problem by leasing a server from the same host on which I can do whatever I please. The host gave me some extra goodies for the trouble.

3. Budget
Budget is a fake word made up to explain a fake process. A budget is how much you have or are planning on spending. You will go over budget; it’s inevitable. If you have $10,000 to spend, why make your budget $10,000 when we know you’ll go over? I think it’s smart to make your budget 50% of what you have to spend. Plan your project around $5,000. When those inevitable issues arise (having my own server costs $250 a month more than what I had before), you’ll still be in the black vs. trying to figure out where you’re going to find that extra cash. If by some miracle you stay within budget, you’ll have extra cash to allocate elsewhere or put into savings.

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4. Outsource
Outsourcing usually has a negative connotation. We outsource every day a hundred different ways. When I need food, I don’t go outside, shoot a cow and pick tomatoes from my garden. I go to a grocery store. When I want to talk to a friend, I don’t send up smoke signals or talk into a can attached to a long string. I pick up the phone and dial. Just because you have a tech guy on staff, doesn’t mean he knows the finite details about making a standards based web site. Just because you have an office manager that keeps the books, doesn’t mean come January she’s a CPA. I’m a one-man show. I came up with the idea for my service but didn’t have any of the necessary skills to fulfill my dream. I could have raised venture capital or brought in “co-founders” to help me, but then I’d get less pie at the end (and I like my pie). Instead I contracted out all work I couldn’t do myself. It took a little longer, but cost less in the long run. Don’t be afraid to hire a professional to do certain tasks.

5. Forget the Others
This one I hold dear to my heart. After graduating college from the University of Texas I worked at a large corporation as a cubicle monkey for a year. I couldn’t handle the bureaucracy and quit knowing I wanted to start my own business. I worked the pick axe and shovel for months digging holes for septic systems while toying with different ideas for a business. When I finally got my idea, I dug holes during the day and molded my software with my contractors at night via email. During this process I received an uncanny amount of pushback from my friends and family telling me to get a real job. No one quite understood what I was trying to accomplish with my software and wrote it off as a dumb idea. I blew everyone off and stayed the course. I now have those same skeptics eating their words, calling my software a multi-million dollar idea. My point is don’t worry about what the skeptics say, it’s not their life to lead.

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All in all, be agile in whatever you do. Just as nothing goes exactly right in life, it doesn’t in the business realm either. At 24 years old, it took me 13 months to create my web application. Often times it was rough and I was poor, but I now have a very cool product to offer small businesses that I believe they will be very pleased with. The experience was incredibly rewarding emotionally and have my fingers crossed that it will be just as rewarding financially. I highly recommend starting your own business if not for the experience alone. If you happen to need a website for that business, why not check out my web application?

Chad Sakonchick is a 24-year old entrepreneur from Austin, Texas. His business, Posima, is a web application that makes it easy for small businesses and non-profits to get up and running on the web. It provides the domain name, the hosting, the design and a content management system all rolled into one.

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Last Updated on October 15, 2019

How to Plan Your Life Goals and Actually Achieve Them in 7 Simple Steps

How to Plan Your Life Goals and Actually Achieve Them in 7 Simple Steps

Where do you want to be 5 years from now, 10 years from now, or even this time next year? These places are your goal destinations and although you might know that you don’t want to be standing still in the same place as you are now, it’s not always easy to identify what your real goals are.

Many people think that setting a goal destination is having a dream that is there in the far distant future but will never be attained. This proves to be a self-fulfilling prophesy because of two things:

Firstly, that the goal isn’t specifically defined enough in the first place; and secondly, it remains a remote dream waiting for action which is never taken.

Defining your goal destination is something that you need to take some time to think carefully about. The following steps on how to plan your life goals should get you started on a journey to your destination:

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1. Make a list of your goal destinations

Goal destinations are the things that are important to you. Another word for them would be ambitions, but ambitions sound like something which outside of your grasp, whereas goal destinations are certainly achievable if you are willing to put in the effort working towards them.

So what do you really want to do with your life? What are the main things that you would like to accomplish with your life? What is it that you would really regret not doing if you suddenly found you had a limited amount of time left on the earth?

Each of these things is a goal. Define each goal destination in one sentence.

If any of these goals is a stepping stone to another one of the goals, take it off this list as it isn’t a goal destination.

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2. Think about the time frame to have the goal accomplished

This is where the 5 year, 10 year, next year plan comes into it.

Some goals will have a “shelf life” because of age, health, finance, etc, whereas others will be up to you as to when you would like to achieve them by.

3. Write down your goals clearly

Write each goal destination at the top of a new piece of paper.

For each goal, write down what is it that you need and don’t have now that will allow you achieve that goal. This could be some kind of education, career change, finance, a new skill, etc. Any “stepping stone” goals you removed will fit into this exercise. If any of these smaller “goals” have sub-goals, go through the same process with these so that you have precise action points to work with.

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4. Write down what you need to do for each goal

Under each item listed, write down the things that you will need to do in order to complete each of the steps required to complete the goal. 

These items will become a check-list. They are a tangible way of checking how you are progressing towards reaching your goal destinations. A record of your success!

5. Write down your timeframe with specific and realistic dates

Using the time frames you created, on each goal destination sheet write down the year in which you will complete the goal by.

For any goal which has no fixed completion date, think about when you would like to have accomplished it by and use that as your destination date.

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Work within the time frames for each goal destination, make a note of realistic dates by which you will complete each of the small steps.

6. Schedule your to-dos

Now take an overview of all your goal destinations and make a schedule of what you need to do this week, this month, this year – in order to progress along the road towards your goal destinations.

Write these action points on a schedule so that you have definite dates on which to do things.

7. Review your progress

At the end of the year, review what you have done this year, mark things off the check-lists for each goal destination and write up the schedule with the action points you need for the next year.

Although it may take you several years to, for example, get the promotion you desire because you first need to get the MBA which means getting a job with more money to allow you to finance a part-time degree course, you will ultimately be successful in achieving your goal destination because you have planned out not only what you want, but how to get it, and have been pro-active towards achieving it.

Featured photo credit: Debby Hudson via unsplash.com

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