At 25 years old and after being fired due to the 2008 financial crisis; Pat Flynn decided to take the risk of creating his own source of income. Thanks to his effort and dedication, he found the number one rule for creating a business and began to generate money through a web page.
Within a year of starting his business, he had already generated $200,000. He currently has a monthly income of $170,000 dollars; more than enough to thank the financial crisis for losing his job.
Flynn affirms for the Business Insider portal that starting a company has nothing to do with the business idea. Not with your experience or knowledge. At least in principle. But yes, with his number one rule for creating a company.
Rule number one to create a company.
The creator of Smart Passive Income and author of the book “Will it fly? How to test your next business idea so you don’t waste time and money ”, he considers the number one rule to create a company; it is change your way of thinking.
The first thing most people think about is finding a very good business idea and obviously looking for good opportunities to develop it.
However, despite the importance of this step; first you must understand what you need to become an entrepreneur in order to think like one.
Failure is part of the process of creating a company Click To Tweet
How to change your way of thinking.
Understanding failure.
For Flynn, the first step is to understand that you are bound to fail and you have to get to the point where you feel comfortable about it. It’s going to happen, it’s part of the process and you can’t do anything to change it. The chances of failure are very high!
You will make mistakes but you should not worry. In the world of entrepreneurship this is completely valid; as long as you learn from them.
In this way you will always be progressing and this in the end it is the most important thing.
Testing your ideas.
What is the method to follow? For this entrepreneur, the next step is to test your idea. The way to do that is by telling as many people as possible. This, with the intention of knowing the reaction of each one about the product; before you start investing your time and money.
So now you have it, set your mentality so that failure does not take you by surprise and end up demotivating you until you are out of business.
Once you think you have a business idea that you like and trust that you can move forward, tell strangers, family and friends about it, obtaining valuable information about your product or service.
Try, fail, try again, fail, keep trying, fail, don’t stop… and success will come. It’s a loop that stops at getting your achievements.
Flynn posts his income on his blog on a monthly basis, which he generates through different websites such as securityguardtraininghq.com, createaclickablemap.com and smartpassiveincome.com. He also has his book and his services as a consultant and speaker.
And remember, if you are really interested in creating your own business, you can read our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
