Melvin Feller Discusses How to Launch a Successful Texas Business from Scratch
Melvin Feller Discusses How to Launch a Successful Texas Business from Scratch
Melvin
Feller Business Group in Burkburnett Ministries and Dallas Texas and
Lawton Oklahoma. Our mission is to call and equip a generation of
Christian entrepreneurs to do business as ministry. We provide workshops
and resources that help companies discover how to do business God’s way
and provide a positive outreach as the director. When the heart of a
business is service rather than self it can be transformed into a
fruitful business ministry earning a profit and being of service to the
community and their customers. Melvin Feller is currently pursuing another graduate degree in business organizations.
Today,
I will be disclosing to you the in-depth approach it takes to start up a
business successfully from scratch even if you have no money. This
approach is called the “Entrepreneurial process to creating a business”
This is the same approach used by successful entrepreneurs to build
business empires that outlive them. Entrepreneurship is like embarking
on a journey; it is not a destination.
No
successful business was created overnight; they all went through a
process and it is this process I want to reveal to you today. Now before
I tell you what it takes to create a successful business, I believe it
is worthwhile I tell you that not all who begin the process of starting a
business will end it.
Unfortunately, this is the harsh reality. Now how
do you create a business from scratch and succeed, even without money?
How to Create a Business from Scratch and Succeed
Make up your mind to become an entrepreneur
The
process to creating a business usually begins with a decision or a
pattern of thinking. Before deciding to go into business for yourself,
you must first have a strong reason for wanting to start a business.
Have you ever asked yourself the following questions?
Why can’t I be my own boss?
I am tired of this 9–5 job.
I work so hard but my boss does not recognize me.
Why am I working for my boss when I can go out on my own?
I am gifted, why can’t I make money with my gift?
The
moment you start to think over these questions, you have unconsciously
began the process of creating a business. In addition, once you decide
to give your idea a go; once you decide to follow your instinct, you
have taken a bold step.
Write a business plan
Once
you have made up your mind to become an entrepreneur, the next step is
to write a business plan around your idea. In this stage, I will advise
you take your time to fantasize, scheme and plot. Envision yourself
being in control. Analyze the possibilities of your business idea and
note your strengths, weaknesses, oppositions and threats. Most people
are of the opinion that you do not need a business plan to start a
business but I think you do and I am saying this from personal
experience.
Get the necessary education and experience
In
the process of making initial preparations to launch your business, you
are sure to make mistakes. At this stage, you will start to see reasons
why creating a business is not for you. Your mind will begin to see
reasons why having a job is important to your survival. You are also
bound to face disappointments that will almost make you quit the
process.
The
heartbreaking news is that most entrepreneurs do not go pass this
stage; their ideas usually die at this point due to loss of enthusiasm. I
have observed entrepreneurs with good business plans; give up on the
process of creating a business just because no one wants to fund their
idea. I have come across entrepreneurs that modify their plan, year in
year out, because they are afraid of failing.
That
is why I always insist my clients start the process of building a
business; no matter how small or unprepared he or she is. I encourage
them to do this so that they can master the art of making and learning
from mistakes. You should do the same for yourself.
Create your Business
Many
entrepreneurs with brilliant ideas and sound business plans never make
it to this stage. They plan, scheme and fantasize but they fail to act
on their ideas. If you can take a bold step and launch your business off
the planning board, you have separated yourself from the multitudes of
dreamers.
Keep the business going
Launching
a business is just the starting point of the game; keeping your
business afloat is the real test. This is the point where you do all it
takes to stay in business. To create a successful business, you will
need to effectively deal with competition, find customers, manage
critical business problems, pay several recurrent bills, and handle
employees and so on. This is the point where the pressure of managing a
business gets worst.
Make more mistakes and learn
This
is the point where many startups go under. This challenge of this
period is the basis why 99% of all small business startup crash in their
initial five years. At this stage, you are bound to make stupid
business decisions that may lead to loss of cash, customers or important
employees. This is the stage where you start regretting why you ever
created a business. If you are not strong willed, you will forego the
vision of building your own business.
When
you get to this cross roads, what I usually advice is to find fresh
answers. Assess yourself to see the essential entrepreneurial skills you
are lacking. Attend seminars, read books on business and
entrepreneurship, sought the advice a business mentor or form strategic
alliances.
Be persistent
After
finding the answers you need, you now have to apply the answers found
on your business. You have to take the bull by the horn and never call
it quit. Sticking to the process of creating a successful business is
definitely not a piece of cake. It requires effort, patience, resources
and commitment. The good news is that if you can be persistent to the
course of building a business; you will end up with the business of your
dreams.
Create a successful business
If
you stay on course without giving up, you will end up having the
business of your dreams in your hands. At this point, your business may
no longer need your presence and your absence will never hinder its
growth. This is where you commemorate your accomplishment. At this
point, you can decide to sell your business, exit or stick with it.
However, regardless of the decision you take, the cash will keep flowing
in.
Count your wins or losses
If
you can diligently follow step one to eight of this guide, you will
surely come to this point. This is where you ponder over the process you
went through to build a business; the business problems you encountered
and solved, the business ventures you won or lost and the failures you
experienced. This is where you tell your tale of success or failure with
others; this where you conclude if the entrepreneurial process was
really worth undertaking.
Retire or replicate your success
This
is the final stage of the entrepreneurial process. Less than 20% of all
entrepreneurs that began the process get to this phase. At this stage,
you are successful and can decide if to stop for the day or repeat the
process of creating a business. I said retire or repeat the process
because I have seen entrepreneurs who begin the game all over again even
after creating a successful business. Others will retire but return to
start the process again because of the challenges and excitement
involved. So whatsoever decision you reach, it is left for you.
In
conclusion, these are the ten steps it takes to create a business from
scratch; these are the exact steps I followed to get to where I am
today. This process may take a year, two years, five years or 20 years
but it surely has an end. In addition, bear in mind that not all who
began this process makes it to the end but if I can create a business
from scratch starting with no money; you too can. Will you make it to
the end of the process? Only you can choose your fate.
Melvin Feller Business Consultants Ministries Group in Texas and Oklahoma.
Melvin Feller founded Melvin Feller Business Consultants Group and
Burkburnett Ministries in the 1970s to help individuals and
organizations achieve their specific Victory. Victory as defined by the
individual or organization are achieving strategic objectives, exceeding
goals, getting results or desired outcomes and a positive outreach with
grace and as a ministries. He has extensive experience assisting
businesses achieve top and bottom line results. He has broad practical
experience creating WINNERS in many organizations and industries. He has
hands-on experience in executive leadership, operations, logistics,
sales, program management, organizational development, training, and
customer service. He has coached teams to achieve results in strategic
planning, business development, organizational design, sales, and
customer response and business process improvement. He has prepared and
presented many workshops nationally and internationally.
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