Since I was teenager I have been involved in starting small businesses. Most of them has just been hobbies, others have become more than hobbies. When I think about things I have to do, the same question always pops up: How can I do this fast and effective? At many times, it’s stressing to think this way, but also fun. It forces you to think outside the box.
I hear all the time that starting a business and making it profitable, takes at least two years. It might be the average, but who wants to be average?
So I had this idea/challenge: is it possible to start an online business and make it profitable in one month? One person, one business, one month. I am naturally limited by other things, so I need a time limitation as well. 48 hours. In other words, is it possible to build a profitable online business in one month without working more than 1,5 hour per day?
I haven’t thought about how to do it yet, but here are some thoughts:
- Use time limitations for every task (e.g. you have 1 hour to fix this, no more)
- Choose a focus. What is the number one thing that will make this successful?
- Start with the things that has a long processing time (payment gateway, merchant account, etc.).
- Don’t get caught up in design of the website or logo. Get someone to do it, or set a clear deadline.
Here is my random list of typical things needed when starting an online business:
- Logo
- Website
- Name
- Domain name
- Bank account
- TAX id no (cvr in Denmark)
- Business plan
- A product
- Money
- Payment gateway
- Merchant account (permission to process credit cards)