Profitable Small Business Ideas


we’ve been getting so many questions from you from my fans all over the world

asking about marketing entrepreneurship

starting a business investing and

closing so guess what we’ve done ask Dan

Locke we have launched a new show just

for you so every single week I will be

answering your questions on social media

on YouTube we are taking questions we

are collecting questions so go to

wisn.com and submit your question and

yes I do believe there is such a thing

as a stupid question

so ask good questions so you’ll get

quality answers real name real photo

real social media account we will answer

them to be patient but submit your

questions and who knows maybe you see we

answering one of these questions on one

of the upcoming episodes

so today very first question from you

I’ve got this great idea to start a

restaurant business that will

revolutionize the way we’ll eat food and

think about the service business but

where do I get started if I have no

money so you have some kind of idea you

have an invention you want to open up a

restaurant that will revolutionize

whatever industry and but you’ve got no

money how should you get started the

answer is very short you don’t you don’t

fucking get started when you’ve got no

money you need money to start a business

one of the biggest mistakes and I’ve

said it many many times

instead most people they think starting

a business would solve all their money

problems or solve all their financial

problems that’s simply not the case it

is exactly like saying you know what I

want more time I want I’m gonna have

more freedom I’m gonna have a baby and

business is like a baby you just don’t

do that if you’ve got no money there’s a

reason why you’ve got no money in the

first place what does that tell me maybe

you’re working in a job maybe you’re

working in a small business maybe you’re

still in school

you’ve got no income coming in well how

you gonna grow a business when you’ve

got no money

this has cost money it takes money to

make money

now from a business context

from a skill context no you can nourish

your skills and say what I teach high

income skills to make money that you can

start with no money but when it comes to

starting a business to grow a business

to scale a business you need money what

it tells me is I get so many questions

then I’ve got this idea I’ve got this I

got no money how should I get started

you don’t because you haven’t earned the

right to get started yet

you haven’t earned the right to be an

entrepreneur nowadays any fucking moron

can put it on social media on Instagram

from last minute they are like college

student next minute I’m an entrepreneur

fuck you you’re not an entrepreneur you

haven’t earned the right to be an

entrepreneur yet you need to work your

way up develop your high income skill

first then you can be an entrepreneur

when you think your product is

everything or your recipe you want to

open up a restaurant your invention you

think that is it it tells me you’re not

ready to be an entrepreneur you’re gonna

lose your shirt don’t see when you think

about opening a restaurant I’ll ask you

some question see how many of these

questions you can answer me you have

this recipe you will open up this

restaurant all you know is how to make

the fucking food that’s not how an

entrepreneur things an entrepreneur is

asking a very different set of questions

hmm how much does it cost for rent

what’s my lease my mania what’s my

margin my supplier how consistent are

they

what’s my population what’s going on in

the area who are my competitors what are

they selling who are some of the proven

models I could study who are some the

restaurants are successful they’re

selling similar items that I could model

what about in terms of traffic flow what

about ours what about in terms are there

any developments around the area

oh is this area growing is it declining

what about people’s income what about in

terms of my restaurants it middle class

is it high-end is it low end is there a

market for it how do I bring people in

what is my acquisition strategy how I’m

gonna bring customers how am I gonna

keep bringing them in how I’m gonna

launch my restaurant how do you make

some noise how much

do I have to sustain the business how

much how many employees do I need where

I’m gonna find those employees who’s

gonna manage the business it’s just me

or is it somebody else do you have

answers to all those questions if you

don’t you’re not qualify start your

business it is dead simple that’s the

way that you think that’s why people

fail and that’s why 95% of small

business failed because most people are

not entrepreneurs they’re not qualified

to be entrepreneurs they are employees

suffering from an entrepreneurial

seizure I’ve got a great idea so fucking

what

that doesn’t make an entrepreneur it’s

like hey you know what I buy a pair of

basketball it doesn’t make me a

professional basketball player it

doesn’t make me be an NBA player all I

have is a stupid little basketball

that’s it you gotta play the game you

can develop your skills when you’ve got

money coming in when you have to develop

the high income skills first then maybe

maybe of what it takes to be an

entrepreneur it is not a pleasant answer

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