Screw it, Just do it

Over the weekend, I had the good fortune to to have a very interesting conversation with a very successful Internet entrepreneur (he makes upwards of 2 million Euros a year from his websites). This fine gentleman told me something that really got to me.

While I was telling him that I have not yet launched the project I am currently working on because of X or Y, he cut me short and said:

“That’s not being entrepreneurial. You should just start! Before you begin anything you actually do not have any problems – do not think of how this or that may go wrong. The only thing that is wrong is that you have not yet started doing it (your project). And the only way to know if there are actually any problems that need fixing is to start doing something, not planning endlessly. As they say: Screw it, Just do it.

Sir Richard Branson wrote a book titled: “Screw It, Let’s Do It: Lessons In Life“. Is that a coincidence? Or are both of these successful gentlemen trying to share on of the secrets to their successes? If you are thinking of starting something – a new project, a new business, whatever – then just go ahead and do it. Stop dilly-dallying and wasting time. Just do it.

Peace.

PayPal Stops Working For Equity Account Holders

In what may be a bizzarre outcome following the rumours that PayPal and Equity have been working together for a more streamlined service, holders of Equity bank accounts can no longer pay via PayPal by using their Equity debit/credit cards.

We’re not sure why Equity Bank decided to block payments to PayPal but this probably means that PayPal account holders in Kenya will continue to suffer (by not being able to withdraw to a local bank) for the foreseeable future.

What do you think of this development?

Will your business survive if something happens to you?

While we don’t like to think of it, there are always uncertainties in life that can come without warning. When these events occur, it is often very difficult to pay any attention to your business. Either you don’t have the time or it becomes the farthest thing from your mind.

When that does occur, will your business continue to run without you or is it completely dependent on you? If your answer is more of the former than the latter, it is more likely that you have already built or are on your way to building a successful Lazy Business.
Why is it Important?

The main reason is that you never know what’s going to happen to you from day to day.

  • You could have a family emergency that needs your complete attention
  • You could become injured or sick and not be able to work for a period of time
  • There could be some sort of catastrophe where you work or live and you won’t be able to get to work or do any work for several days

All of these things are completely out of your control and more often than, completely unpredictable on when they happen. You need to be prepared so that when they do happen, your business and your livelihood aren’t affected and you can focus on what needs your immediate attention.

An ancillary affect of being so prepared is that you can also be gone for no reason at all. You can take a week off of work at a moment’s notice or just not do any work for several days. Your business will still function without you to support that lifestyle. Now it may not continue to grow without your leadership and vision but that is a balance that you need to be comfortable with.

The important goal to focus on is that your business wouldn’t fall off the edge of a cliff with clients canceling their service or bills don’t get paid, etc.

What if You Freelance or the Main Cog in the Business?
If you are a freelancer, you have other problems. Freelancing is not a real business in the first place and you need to re-engineer what you do and how you work to make sure that you manage the business and are not the sole person responsible for service/product delivery.

What Needs to Be Done?
The short answer is . . . Everything!

Every business is different in what it sells and how it operates. But that doesn’t mean that there aren’t common functions of every business – accounting, service/product delivery, marketing, sales, general management, etc.

The fact is that each of these areas should be broken down and detailed in a manual with all the functions that need to be completed. And all of those activities should be delegated to someone else to do. These are tasks that need to be completed on a regular basis like setting up new clients or paying bills on a weekly basis. You should not be doing anything that you can get someone else to do – outsource it.

But there are a few things you should have procedures in place for so that they can be run without you. This is also a good checklist for those who want to automate their business:

  • Who is going to handle the accounting and handle the reconciliation of all the expenses and income?
  • Who is going to bill the clients, receive the payments, and process the payments?
  • Who is going to pay the bills on time?
  • How are the taxes going to get paid and any forms or legal documents get filed?
  • Who is going to manage the marketing campaigns – set them up, monitor them, and measure them?
  • Who will the prospects call or e-mail if they have any questions or would like to place an order?
  • Who will take the orders and get the information to deliver the product or service?
  • Who will handle product/service delivery and make sure that the client is set-up and receives what they ordered?
  • Who will handle client support? They will probably have questions or concerns and they need someone to talk to.

While they might not all be completely automated so that they can get completed without any assistance or initiation from you, you should be able to easily hand them over to someone else to complete. These are all things that you need to automate today so that you don’t have to worry about them tomorrow. And you’ll notice that once you do have them handed off, you will be able to focus more time and energy on growing a successful business. . . or you can just play some golf instead.

The 8Pen

Re-inventing the Keyboard. Watch the video:

What do you think?

Business Idea Generation in 5 Easy Steps

I read something interesting from Ramit Sethi:

The myth of the Perfect Idea takes two seemingly opposite forms.

  1. “Waaaah, I hate being broke, but I have no skills or ideas for making more money!” “My boss is such a @$#@* but there’s nothing else I can do.”
  2. “But I have a MILLION good ideas! Just don’t know where to start… website? iPhone apps (even though I don’t code)? Guitar lessons? Personal chef?”

Your idea is a lot less important than you think it is, and here’s why.

Your ideas are worthless.

The true value of your idea comes to life when you execute.

Have you ever heard anyone say “Man, if only I had been the one to come up with that Google idea… I’d be one of those billionaire guys by now!” Uh. Think again. Your idea is just meaningless thoughts until you can bring it to life with impeccable execution.

Likewise, even a highly IMPERFECT idea can yield profitable and satisfying results with great execution.

Read more about how to generate ideas in 5 easy steps.

PayPal Investing in Kenya

While idly browsing the net, I noticed something very, very interesting today:

A Google Adsense Advert by PayPal Kenya

A Google Adsense Advert by PayPal Kenya

That is an advert done by PayPal to market their “PayPal Kenya” website offering PayPal services to Kenya. This means that:

  1. PayPal is actually putting money into marketing its offering to Kenyans
  2. PayPal would not be investing money if they had no long-term interests in Kenya. This may mean that the PayPal service will improve to the point of us being able to withdraw from PayPal to Kenyan bank accounts.
  3. Local online money services such as PesaPal should start thinking of how they will compete with the 800 pound gorilla that is PayPal.
  4. We live in interesting times!

What do you make of this?

Winners of ‘The Richest Man in Babylon’

Well, we had a mini-competition the other day. We decided to give the book to everyone who participated. Cool, he? maybe next time pia wewe utapata kitu just for participating!

So here are the winners, in no particular order:

Guys, thank you for participating. Please enjoy the book. Do let us know how you like it. 🙂

If you are late and you want The Richest Man in Babylon, you can get it by clicking here.

We’re aiming to have competitions like this regularly on Like Chapaa, please stay tuned. What kind of prizes would you like? Leave a comment below to tell us.