How Starting A New Business Can Make You Quick Money Overnight...
To Make Ends Meet
Starting a new business for the sake of making quick money to survive from one day to the next is nothing new. Street walkers do it all the time. So do drug dealers.
But this is not work. It's bondage to a life of peril and misery.
This kind of quick money is no way to survive, because the point of survival is to grow strong to fight another day.
So keep your time horizon always before you.
Though you need to make money quick, you also need to have an idea of what you will undertake a moment later, after you get that quick money.
Quick Money For What?Quick money is not what lies behind starting a new business overnight. Make money quick not for the sake of cash itself.
Make lots of money quick because you can't help to receive this money quickly as a by-product of executing honest, reliable yet quick money making ideas.
What sort of quick money making ideas? That question is best answered with a story.
He was 17 and the fifth of 7 children. His name was Peter. His dad had been an amiable yet inefficient man, who married the daughter of a former Mayor of New York City.
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with making money with a business.
The boy got a mixed bag of education from his parents. From his mom he got a rare blending of sweetness and fire, of efficiency and tenderness.
But from his dad, who had retired from service with the rank of Captain, he got a lack of perseverance, because the father had always been better at forming schemes than carrying them out.
So when Peter received his father's consent to leave home for New York City, all that he took with him was this baggage.
He wanted to learn a trade, so he looked to apprentice himself to somebody. He didn't relish the idea of spending his life brewing beer with his dad.
Peter wondered the city for some days without finding a place he liked or that wanted him. One day he entered a freight factory and asked for the shop owner.
"Do you have room for an apprentice?" he asked the owner.
"Do you know anything about this business?"
"Have you been brought up to work?"
That Peter had, most decidedly. He had learned to brew beer and other work that his father taught him.
"Is there someone who can vouch for you willing to learn this trade?"
"Well," Peter said, "My parents have given me my choice of trades."
"I see," said the owner, "If I take you, will you stay with me and work out your time?"
Peter promised to do so and the bargain was struck. But he was making peanuts, barely getting by, especially after sharing some of his earnings with his family to help them along. He was tenacious, however. He hung on for 3 years. He put in his time.
One thing Peter painfully felt during this time was his own ignorance. Although he was energetic, inquisitive, inventive and his mind craved for knowledge like a hungry man craves for food, he was unaccustomed to reading.
He bought books that at first perplexed him more than assist him. He tried to go to school. He paid for a tutor for a while, which helped him with basic math and a bit more. But this only made him more aware of how woefully inadequate his childhood instruction had been.
Nevertheless, Peter worked well and when he turned 20 his boss offered to lend him money to start his own business. The young man turned it down. He wanted no debt. So instead he went to Long Island to work in cloth.
Peter's practical ingenuity, through trial and error, helped him design a machine that improved the quality of woven cloth at a time when cloth manufacturing was critical for the U.S., because the country was at war and there were shortages of all kinds.
Cloth factories had sprung everywhere and his machine was in demand. In light of this success, he set up a machine shop of his own, starting a new business by making these and other machines for the factories that had come to know his previous work.
He was now an entrepreneur and he was only 21 years old.
But the end of the war also ended cloth shortages. His business rapidly declined. He had learned, however, an unforgettable lesson: that starting a new business to make quick money overnight to make ends meet requires more than creativity and tenacity.
Starting a new business requires executing one idea that delivers massive benefit to a specific kind of customer at a time of colossal need for them.
Making It Big Before Age 25At 24 Peter married and, starting a new business once more, he converted his machine shop into a cabinet-making workshop.
Not content with that, he left it for a grocery store, thus starting a new business yet again. At the age of 25 Peter, while working at his store, received a visit from an acquaintance.
"I have been building a glue factory for my son. I don't think either he or I can make it make money. But you could."
"Where is it? I'll go see it."
He liked the place and the idea. At the time the best glue came from Russia and American glue sold for one-fourth the price of Russian glue because of its poor quality.
He wanted to figure out a way to make it the best in the world.
Starting a new business was now coming naturally to Peter. The opportunity was before him. He now had the experience. He sold the grocery store and bought the glue factory.
At 7 AM each morning he was first in line at his own glue factory. He opened it and got the machines going before all the workers showed up.
By mid-day he was traveling throughout town calling on customers, and for many years he got home in the evenings to do the books himself and take care of his wife and 6 children.
This was Peter Cooper throughout his 20's.
And glue made him wealthy.
This same poorly instructed young man of 25 would be filing a patent on glue-making 14 years later. But he did far more than this.
From a biographical summary by The Friends of Ringwood Manor:
"Peter Cooper's contribution to the industrialization of America included the first American-built stream locomotive (called the Tom Thumb), isinglass, gelatin (jello), and a new method of salt-making.
He was also a founding member of the company that laid the first Trans-Atlantic telegraph cable. How's that for starting a new business?
"Peter Cooper's greatest achievement was the establishment of the Cooper Union School for the Advancement of the Arts and Sciences in 1854.
"Cooper Union provided a free education to the gifted working class of New York City. He wanted to 'give to the world an equivalent in some form of useful labor for all that I consumed in it.'
"One hundred and fifty years later, Peter Cooper's legacy of Cooper Union still provides scholarship for those students that excel in the arts, engineering, and architecture."
Peter Cooper was a great American industrialist, philanthropist and an example that he did more than make quick money to survive. He kept a time horizon always before him.
He understood that cash in hand is not enough if all you're going to do with it is spend it. Rather, starting a new business again and again and again to meet the immediate demands of customers is the quickest money making idea there is.
If you start a new business again and again and again until it becomes second nature for you to do so, then cash flow will become as normal for you as water from the faucet.
Just remember that great lesson that took Peter years to master but which, unlike him, now you know: deliver massive benefit to a specific kind of customer at a time of colossal need for them.
That's what starting a new business is all about. Do it again and again, and you will make money quick, even overnight, if you strike the need immediately and with precision.
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What Is Your Time Horizon For Making Money?
How do you define the word 'quick' when it comes to money making?
We all have different time horizons. As an entrepreneur, how do you define yours and why does it spread as long or as short as it does?
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I Have No Money To Start My Own Business! Does It Matter? Not rated yet
The Wall Street Journal says that you don't have to break the bank to start a business. The fact is you don't even need a bank to start a business. …