The first £100...

A few weeks ago I told one of my friends about my business idea as he has himself started his own business about 8 years ago.

And he gave me some great advice... concentrate on making the first £100.

This is has been invaluable for several reasons:

1. Focus on the achievable
2. By focusing on the achievable, it means it won't get too complicated, either in the start up or as an ongoing concern
3. By making it achievable, it means it can be tested and the offering in turn revised prior to full set up

And I've shared this principal with my buddy and it seems to have helped him as well, making it easier for him to see how he can start rather than wondering about how to get scale behind the business. It now provides a basis for building the self propelling business model he has adopted...

Its shaped my business plan, as I now have a solution that without it I would have immediately discounted and helps me transition my thinking from big business to the nimble entrepreneur. I can also set something up to make £100 quite easily, where as before I needed several hundred thousand pounds just to make a test. Now I can test quickly and easily with little / no risk and all the upsides from testing in order to get stacks of cash from investors to get to the next stage.

So focus on making the first £100, and everything after that will fall into place...