How to Start a Business

Many of us want to start our own businesses.
Public space is filled with reports of new ventures. But the reporting on entrepreneurship
is heavily skewed in one particular direction: towards people who have started new kinds
of businesses, pioneers who have pushed the boundaries of commerce by creating a wholly
original offering, usually through the help of an innovative piece of technology. The
new entrepreneurs might, for example, have invented an app for measuring and controlling
the humidity of clothes’ closets, or they might have come up with a tiny sensor that
can detect hunger in domestic animals or have built a social platform to connect people
planning a trip to Italy. This emphasis on novelty can leave us feeling that the chief
and correct way to become an entrepreneur is invariably going to be through radical,
technologically-based innovation. We may therefore, as we contemplate an entrepreneurial future,
ask ourselves (with increasing panic) what entirely unthought-of idea we might ourselves
come up with to propel us forward. In our frenzy, the answers we arrive at may start
to lean towards the implausible, the trite or the naive. But there is another path. Most
of the economy is made up of businesses doing stuff that people have always been doing or
have been doing for a very long time: making daily bread or shirts or trousers, teaching
languages or giving travellers a bed for the night, raising animals or fixing teeth. In
other words, most businesses operate in areas that economists call ‘mature’, sectors
where it’s rather hard to come in and make a surprising fortune. But that doesn’t mean
these sectors should be ignored. Far from it; there are a plethora of hugely meaningful
possibilities hiding for us in plain sight on account of one, perhaps surprising fact
about the economy: a majority of businesses don’t love what they do. We might make a
basic distinction between two kinds of businesses: – pragmatic businesses – businesses of
love. Pragmatic businesses are everywhere. They almost define for us what we think business
is in its essence. They know how to make their product or service with a sound degree of
competence, but there is a practical, unidealistic edge to the way they go about things. There
isn’t anything very powerful drawing them to their particular offering. They might easily
have been doing something else. They don’t care about the long-term; the business is
only a vehicle for an underlying financial purpose. One eye is always focused on how
to sell. If the owners didn’t have to work, they almost certainly wouldn’t. Such pragmatic
businesses may do fine, or even very well, for a long time, but the motivations are easy
enough to spot. A discerning eye can tell something crucial within minutes of walking
through the door: this is not being done with, or for, love. Pragmatic businesses dominate
the economy. One might say that over 85% of businesses fall into this category. But there
are parts of the economy, and they are heavily in the minority, where things are being done
very differently. Businesses of love produce many varied things, but there are underlying principles holding
them together. Here love means: – a total commitment to excellence of a given product
or service. – a desire to reinvest almost all profit into guaranteeing excellence. – a
focus on the long-term, because the business is – for its owners – the meaning of life.
There is no interest in selling the firm now, or perhaps ever. The dearest wish might be
to give it to someone you love, like your child.
© Flickr/cskk – love means you’d almost do it for free
– and don’t only because you need to live, you need to pay your employees and you want
the business to be able to last into the long term. The product or service is what you love
and you love it inordinately. Businesses of love are the sort where the owner has scoured
the world for the best kind of flour and wakes up excitedly at dawn to check on the progress
of each of the loaves; the aircraft factory where the workers think of every plane they
are building like a relative they will always care for; the stationery shop where notebooks
and paper are viewed as objects of beauty rather than utility; the travel agency that
won’t rest until it knows it clients have enjoyed their trips rather than just paid
for them; the sandwich store that views a fine avocado and chicken roll as one of the
authentic joys of a tricky life. Businesses run for love are not always successful in the standard financial sense of the term.
Some might just be returning a little over 3% a year. But for these enterprises, money
is only ever a means to a greater, more purposeful end. There are huge opportunities to hand
for any would-be entrepreneurs because most of the economy is in the hands of people who
don’t love what they are doing. Most law firms, dentists’ offices, hotels and bakeries
aren’t in it for love. They may be efficient and canny, but they are – ultimately – just
waiting to sell up. We don’t need to be very original to succeed, we don’t need
to have invented anything very new; we just need – to make sense of our lives and to
make an honest living along the way – to offer the world something we love a little
more intensely than most people do. . Thank you for commenting, liking and subscribing. Our book ‘A Job To Love’ is a practical guide to finding fulfilling work, to find out more, follow the link on your screen now.

100 thoughts on “How to Start a Business”

  1. Thank you for watching and supporting our films. Did you know you can now download our free app from the IOS store here?

  2. this says how to start a business but i'm pretty sure it's just saying what a business is!!!!!!!!!!!!!!!!!!!!!!!

  3. I’m 13 years old but I plan to open a company in the future…my dad is against it but I don’t care cause it’s my future..I’m studying so hard everyday cause my goal is to be wealthy and the family on my father’s side alway judge my mom’s family cause they’re poor..I love my parents but I want to make a name for my family. Wish me luck please 😊

  4. Get business education, learn on your own and you may need lots of library time, learn the requirements via online class, your state office and resources, it is not some tip or few hours or a throw up a website with metatags for seo and get money and your in business, you have to learn entity differences due to fed reserve rules and tax code and legal stuff and it is a lot from there. it is a lot and it is not buying some biz plan and skipping half the work. if you got the money–go buy a franchise. if you don't then you got work and time to use and this is a chunk of you investing in yourself. and yes you have to meet with government people in person so choose how much and choose how well informed you ought to be before hand. i wrote a biz plan before, i know the limitations of it. i read biz books in a library including a shortcut to this or that biz and started one on the cheap that can be successful with a no debt policy but lots of time can go into that and you buy your inventory and you make your materials if you don't have the money to pay for it and you market the hell out of it and it is a drag at times and you get depressed and you have to uplift your mood and you fall on your face quick because that is the real business world for everyone who succeeds and if you screw up like going bankrupt in the casino business when the odds are in your favor, then your in the wrong biz or your a failure at business in general. i read about business owners who failed and picked themselves up again because that is real world, not the art of the deal–skip that. Being a negogiator is not the same as being a real solid business owner who has everything on their back. excuse me while i go back to study–oh sometimes you look for used books for cheap price because some subjects stay the same over time and you have to know it–so if your software fails–have a plan D and this if for disaster or when shit starts falling apart…you have to do papaerwork, you ahve to have it on hand and i am only talking about the begininng. my shit fell apart when everyone who could support backed out on me when investors wanted to meet with me and were offering $25k to start with, i wrote a successful biz plan–on welfare, on food stamps, on ssi but had no daycare for some of it and that meeting was critical and i had a government dept. signing onto the biz plan already before the meeting because they liked it that well. working 9-5 and getting a paycheck and buying some DFY online site that makes money? easy but if you don't have money it is a whole different ball game and it is very hard to play and win and know your only going up the economic ladder to working poor or to middle-class and there is a huge climb. 9-5 and buying a franchise, you have to learn about that and maybe more than you think…but you might have to start working 2 jobs or have to hire family or friend quicker than you think or maybe if your lucky and understand loyalty you might find a very good employee who will be there for you if your there for them and this is business when your cutting your teeth, but if your in the wrong type for you–you're going to fail so you have to have a open mind and be able to look at yourself and the parts you don't like–that's a winner in business. now go read Harvey Mackay.

  5. A British accent on how to start a business should've been my first sign this video was going to be a waste of life. For reasons unknown, we correlate a British accent with intelligence, but from a practicality standpoint, how would a Brit know the finer details of opening up a business in the United States? From licensing issues, zoning laws, business banking, taxes and hiring, there's real details to opening a business that entrepreneurs are trying to figure out. But good to know that technology is a booming industry, who would've guessed? Of course, a man with a British accent knew better than everyone

  6. I'm also trying to start my own business just need help I know a whole lot about home improvement just need a few more things to start please help

  7. There was an ad for "Free Training", it was about this New Zealender who started his own company and stuff, i watched the entire thing thinking it was the video, only to realize it was an ad….

  8. im a woodworker and aspiring blacksmith
    now ive found out that the place i moved to is no place for those things.
    how do i start a business with those skills? so i can move somewhere so i can start a business using those skills? i have no money coz i live of my parents and no home base to "operate" from
    and i have nothing but these skills and knowledge!
    utterly nothing! which i really come to realise now!

    ive spent 7 years studying on my own attaining all kinds of skills and knowledge regarding handcraft work.
    i was planning to now use these skills in to the fullest now that i have the space to do so and make some money with said skills.
    but im "suddenly told" no!

    i have spent 7 years studying tirelessly old handworks and made most of the tools and work utensils myself but now….
    am i supposed to throw everything i am, everything i own in the trash?

  9. One of the biggest steps in life is to start your own business. To bring your idea to life have to take certain steps:

  10. For all of you trying to start your own business, I have that one of the best ways of attracting new customers is animation videos. ENGAGING videos.
    You can learn how to do it by yourself at
    Really Recommended.
    And according to the site, these lessons won't be available till the end of the month so hurry up!

  11. Excellent presentation I don't usually comment on videos that I watch but this video got my attention straight to the point and clearly explains everything
    I like how you explain it, very informative

    keep up the good work
    I suggest make more animations like this to make your videos more interesting to watch.

  12. This is one of the most powerful messages on business that I have ever heard. This comes after six years in business school and 12 years of working in the business world. The wisdom and insight of this video is incredible, and is even more strongly delivered by the understated tone and animations. I'm glad that I found this now, I don't think I would have appreciated this treasure years ago. Thank you for this! Start with the why!

  13. If I would know what I should do to get rich and life a life where I'm not gonna cry when I'm broke I will directly take action I would full time whit no problem but I'm still in highschool currently 14 years old and on this age you need to get a job on my school so idk what to do many peaople want to live there life's in a store where you get paid 10 dollars per hour but I'm not like that please help me😕🤔

  14. Very good advice. I wouldn’t say follow your passion though (no offense). I would say get curious about things that are at least interesting to you that you can see yourself doing and then as you get better at it you’ll begin to love it. Even though you still can fall and get hurt. I love the School of Life because they’re so much more structurally sound in their perspective and advice than much of popular Christian belief. This is a long way of saying that I’m entering my 10th year in running my own business as a Tree Surgeon (Certified Arborist) and this video is very true. If you’re looking at starting a business I’d recommend offering a service first and learn business principles first hand and then improve and specialize the better you get at something within that industry. That’s what gives me motivation to keep going. I fell out of a tree yesterday and now my head is spinning in ways to move forward in my industry that doesn’t require me to get up 100ft. In the air just to keep the business doors open. Thank you School of Life for giving me great new thoughts to help me on my journey for contentment and actual progress.

  15. I would like to share some tips which personally helped me. I hope it can help your readers as well:

  16. Basically, you need to take credit and you will never be able to repay it so, just work for a high paid job (doctor,engineer)

  17. This is exactly how I've lived my life so far… Unfortunately this seems more like a shitty life vs an awesome one. Work to live, don't love to work would of mad a better video idea.

  18. I am planning to start my business this 2019. Well it's not in line with technology but I am still hoping to get a track or future here. Btw it is an art craft business. 🙂

  19. I have an idea that could fix problems with alot of gamers( not giving it out) but I'm 14 🙁 the idea might be tooken soon what should I do?

  20. I believe that you've failed to mention one MAJOR factor… It takes money to make money. Most of us are barely eking out a living. How much can one truly sacrifice monetarily to even begin a business ?
    And as far a jumping on a mature idea… Try being a musician. The music industry is just horrible. And horribly saturated with just bad, bad, shit.
    For example, I am a very decent musician. Not the most profound, but I am far better than many that are famous. I have no money, no backing, and now rid of management as they did nothing, and now right back were I began. If one hopes to become the next great is ANYONE'S goal, just forget it unless you have money or nepotism is involved. It doesn't matter how good you are a musician. Don't believe me ? All you need to do is to turn on the radio. Such shit is bursting through the airwaves. I have "done", I did not try… I DID ! After 30 some odd years, and not even breaking even, I'm done. No money, no honey. And that's all there is to that.
    However at the present is appears that if you're a cute girl with a weird voice, you've a better chance than many. Personally I don't like this "genre" but there you go. I like good music. And at the present there seems to be a total lack of this.
    However young lady, you need to keep in mind that the music moguls are nasty fuckers. If you don't mind selling your soul, this will be easier for you. Also don't forget that you may very likely be forced into unsavory sexual favors as (un)well, but hey if that's good for you then… I suppose that there are worse ways to procure that which you desire.

  21. Nice video, I like the animation style as well. Good to see another YouTuber on here inspiring more entrepreneurship.

  22. For all the people who want to start a blog. its v important to have good emaling lists. you can try something like convertkit ( ). it's the best one i've come across. goodluck!

  23. Hey everyone!

    We sat down with Dharmesh Raithatha, Product Partner at Forward Partners and talked about how to acquire your first customers, hire people, go from Pre-Seed to Series A and how to test your MVP.

    Thought you might be interested in watching it!

  24. A must-watch for any start-up founder. We sat down with Dharmesh Raithatha, Product Partner at VC fund ForwardPartners and talked about how to hire people, go from Pre-Seed to Series A and how to test your MVP.
    Go give it a watch now

    Prefer to listen to this conversation instead? Then search for our podcast Creative Capes!

  25. My question is where do they get their sources and materials from and such to have a certain item? Also how?

  26. Here are 7 simple steps to launch your business as well:

  27. When you start business you need to save money and spend wisely. This is the digital business card for every one of you. Made for business owner & entrepreneur.

  28. This is bs.this video only tells us the attitude we should give not even something like how to finance or obtaining money what the heck

  29. I love School of Life! I used to set up my ecommerce business which has given me the freedom to work from anywhere with wifi and to be my own boss. I highly recommend finding something you LOVE and the rest will fall into place(with a lot of blood, sweat, and tears)!

  30. If you're considering starting a business, have started a business already, or are running one during the first 5 or 7 years of its existence, this post will be useful to you.

    I'll explain step by step the entire process in 10 crucial steps.

    The important thing is to complete EACH step completely before moving on to the next step.

    Your chances of success will truly be maximized if you complete each step successfully.

    On the other hand, missing one step will SIGNIFICANTLY increase your chances of FAILING.

    Interestingly, each step completed puts you in a DIFFERENT universe, one where your odds of success is significantly higher.

    For example, having a business plan (no matter how imperfect) will tend to increase by 10 or 20 percent your odds of success.

    So here are the steps:

    1. Do market research to figure out an unmet NEED. (No, don't try to CREATE a need. It's a common mistake to try to get people to need what you offer.)

    2. Clearly identify and define the TARGET MARKET.

    3. Create a product that fulfills that NEED for that TARGET MARKET. At this point, it's probably still a prototype so you want to put it in the hands of beta users and get detailed feedback on how to improve it.

    4. Develop the product until you have a functional product that you can charge money for. Doesn't really matter how little you charge.

    5. Recruit a team to help you to build the company. Offer equity or profit-sharing to team members.

    6. Write a business plan.

    7. Present the business plan to investors. Get feedback and/or investments.

    8. Create an actionable marketing/sales plan, including digital marketing.

    9. Recruit a digital marketing team and, if possible, pay for performance. That is, pay them commissions only, but be generous.

    10. Create a system (I'll provide one through ABI, my Artificial Business Intelligence) that helps you to collect information and data in real-time to properly manage your business.

    So friends, there you have it: the 10 super-strategic steps to build a business from scratch.

    These are the steps that, as a business consultant, I help entrepreneurs and startups go through.

    Anyone can do all these steps, but most people conveniently ignore them or deceive themselves by thinking, "Oh, I learn through action, I just want to try it out and see."

    No. You will fail.

    That's because business is a very TECHNICAL discipline, like engineering or dentistry.

    You must know what you're doing.

    Business is not a "social" activity where you network, chat with prospects, and hope to build a solid, positive-cashflow business.

    It's not even about digital marketing although it can amplify your business results IF you've got these ten steps in place.

    I hear of people who have lost $200,000 in business, or who wasted $20,000 hiring a publishing company to write their book — which, after I read it in a few minutes, seems NOT to fulfill any need for any particular market.

    It was just vanity publishing.

    Yes, it's good to learn from trial and error, but losing so much money BECAUSE one did not diligently go through the 10 steps above, seems pretty stupid.

    So we must be hard on ourselves and summon the courage to do the right things, one step at a time.

    Join Entrepreneur Academy for more guidance and resources:

  31. this was great… I guess I need to make sure all the new inspiring inventors better stop making new awesome things bc failure is inevitable.

  32. Great video! The Promo team recently wrote a blog about evaluating business ideas that could be helpful to people looking for another resource related to this topic.
    Check it out here:
    Hope it helps and happy reading!

  33. Very entertaining! But unlike the title, the video doesn't tell you how to start a business. I started my business for $115 and I talk about it in a video on my channel, check it out and let me know what you think.

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