5 Non-Negotiable Rules for Starting a Business

scared business
5 Non-Negotiable Rules for Starting a Business

So you want to start a business, eh?  Well, you've come to the right place.  If you've seen my previous posts about starting a business, you know already that I loathe how Catholics have generally retreated from entrepreneurship.  It's a shame, and because of that we've been losing the culture war tremendously.

But have hope, you are on the forefront of a new Catholic entrepreneurial revolution!  In this article I am going to give you the manifesto of Catholic entrepreneurship in a nutshell.

1. Know that you are doing nothing wrong

First off, just because you accept money for a good or service, doesn't mean that you are doing anything wrong, okay?  You aren't robbing anybody and you are not being greedy.  Stop thinking that you are a dirty, dirty person by being a business owner.

Seriously, you don't hate the cashier at McDonald's for taking your $2 when you order 2 double cheeseburgers that you shouldn't be eating do you?

Of course not!

They are providing a product for you that is actually more valuable than the 2 dollars that you are spending.  YUP, YOU HEARD ME RIGHT - 2 DOUBLE CHEESEBURGERS ARE MUCH MORE VALUABLE THAN YOUR $2!

Why?  Because if you were to make a double cheeseburger yourself you would need to go and buy buns, meat, cheese, onions, etc.  Then you need to slice up the onions, cheese, etc, and cook the meat.  By the time you are done you've spend $20 on ingredients, and spent 1 hour of your time making the burger.

At McDonald's you just had to order, pay the cash, wait 2 minutes and it's done.  They have created a system that provides more value to you than the cash you give.

2. Start, start, start, start, start, start

Don't listen to those guys that say you need to find you passion or niche in order to start a business.  Just frickin' do something.

If you know how to fix computers, let your neighbors know that you are starting a computer repair business.  You can also start posting Craigslist ads (that's how I started).

If you can build a website, mail out some letters to local businesses that don't have a site and offer to build one.

If you make funny hats.... they better be funny...

... If they are sell them.  If not, try fixing computers instead

You will never find your niche unless you start.  Plain and simple.  I went from fixing computers, to building websites, to making apps and plugins for WordPress, to information products.  I would never be where I am now if I didn't start with... fixing computers.

3. Embrace the sacrifice

You are going to have to sacrifice a lot if you have your own business.  You'll sacrifice money, tv, computer games, Facebook games, and a whole host of other things.

Don't be a lazy bastard...  You are a Catholic, you shouldn't be watching television for 3 hours a day.

Seriously though, don't be afraid of having to give up things  that are not good for you anyway.  Even just an hour a day on a side business can lead to big results.

4. Price what you are worth.

A simple law of business is that if you price yourself high, you'll usually win more clients.  This, of course, depends on what you are offering, but more often than not when you price yourself higher than your competitors you become the "hot girl in school."

Clients will want to work with you because they perceive you as delivering higher value. I charge $200/hr for my consulting now - because I am charging what I am worth.  Seems high, but my value comes in giving my clients the ability to do the exact same thing as me without all of the failures that I had. I've generated over 6 figures in revenue online and if 1-hour of my time can help them to do the same then it's worth it.

5. Don't be afraid of failing - because you will fail

The #1 reason, in my opinion, why Catholics don't start a business is because they are cowards.  Are you afraid of calling people?  Are you afraid of having to sell something to someone?  Are you afraid of not being able to play online poker? (I seriously had one person tell me this).

As a Catholic you aren't allowed to be ruled by fear (our Lord commanded be not afraid).  Nobody is going to pull a knife on you for offering to clean viruses off of their computers.  I've never had anyone yell at me for sending them an invoice.

Stop being a chicken and start your business.

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2 Comments

  • David

    Reply Reply May 26, 2014

    ABSOLUTELY GREAT advice! Especially #2 & #4. People price too low, and before long they go out of business for not charging a reasonable price in the marketplace. Profit must be a priority to grow the business.

    Consider how you can serve the kingdom of God. The world needs honest and ethical businesses. The mechanic who fixes only what’s broken on the car. The nursing home which treats the elderly with dignity. The doctor which protects the life of the innocent unborn. The service company which employs hundreds of people and provides a fair wage for hard days work.

    It’s not a sin to steward wealth. The bible contains many rich people and examples to live by of such as the Good Samaritan who came across an injured person while traveling on business. It is a sin to hoard wealth. If a business makes 500 million a year, that’s a great thing, because 500 million are invested in an ethical way which makes the kingdom stronger. Paying salaries and reinvesting in the business.

    Many years ago I gave up my business of 10 years because of #4. I found myself pricing myself into povery. I also had young children and I also figured working for someone else would ease the hours and burden of being an entrepreneur. Now I work 60-80 hrs a week for someone else. I still put my family first, but those who are driven to avoid sloth will turn the TV off.

    #5, fear of failure is a good thing if it doesn’t paralyze. Get out there and try it,start,start,start,start!

    I’d add a #6, dip a toe in the water before jumping. This makes starting a lot easier. Starting a business doesn’t mean a high wire with no safety net. You CAN start a business without putting your day job at risk, or putting your entire retirement on the line. If you have a great recipe, that doesn’t mean sell everything you own and buy a restaurant with no experience. If you are a great cook, then go to work in a restaurant to see what it takes. Or start a catering business on the weekends.

    #7 would be, Don’t just buy a job. There’s a reason that pizza place down the street has gone out of business 5 times in the past 10 years. The owner might have a fancy new car, but it may be financed. Look around and see if owners are truly making money in a space.

  • Dean Soto

    Reply Reply May 27, 2014

    Hey David,

    You rock! What a great comment and I love the added rules, especially #6. That’s one thing that most people learn the hard way and is gold. There is no reason to quit your day job. Work on your side business 1 -6 hours a week. If it’s successful you get to have enjoy some side income and plan how to make it even more successful.

    in the same realm, if you can test out a product or idea and see IF IT SELLS it’s definitely the best form of market research. One of my business partners and I are creating an information product based around security. Rather than spend 40+ on it we’ve made 2 modules and a sales page. If we get buyers we’ll keep working on the content, if not then we stop and do something else.

    Thanks for the great comment,

    Dean

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