Are you thinking about starting your own business or ditching the grind?
This article will share my personal tips for approaching your first business with the right mindset.
After reading this, you’ll have a clear understanding of what it takes to get started.
Contents
Overcoming the Fear of Upfront Investment
My First Buying Experience
This receipt marks my first experience buying second-hand clothes for my reselling business. The total was ¥4,158, which is about $28.32.
At first, I was terrified of making any upfront investment, even if it was just $28.32. I absolutely hated losing money and was petrified of losing even a single cent.
However, risk and reward are like a pendulum; you have to be prepared to take some risks when starting a business.
You can start with a very small risk, just like I did(Like $28.32 lol). You don’t need to use a lot of money from the beginning.
Little by little. Little by little.
A Gradual Change in Mindset
First overseas purchase
Eventually, the best way to overcome the fear of investment is to simply get used to it.
In my case, my first $30 purchase brought me a $20 profit. After that, I was able to buy a $50 items, which brought me a $30 profit. I repeated these small deals, though I sometimes made small mistakes.
Now, I’m comfortable making purchases even if it’s $2,000 because I’ve gradually gotten used to investing in my business.
I think it’s normal to feel afraid of upfront investment if you haven’t started your first business yet. But don’t worry—I was in your shoes.
I recommend you start with a small investment, even if it’s just $10. As you get more comfortable, you can increase your investment little by little.
Where to Invest First
Investing in Your Environment
In the previous section, I talked about investing in products. While that’s important, I also recommend investing in your environment first.
So, what do I mean by “investing in your environment”? There are two main categories: tools and locations.
Tools
“Tools” simply refers to things that improve the efficiency of your business, including a desktop or laptop, a PC monitor, a working desk, and an office chair.
Many people think, “I’ll buy a MacBook when I make a lot of money with my first business.” I understand that thought, but you might never even start your business if you have that mindset.
The order is reversed. The correct way to think is, “I will make a lot of money with my business because of my MacBook.”
Locations
“Locations” refers to places to work and store your products or inventory.
Six months after starting my reselling business, I moved from a 1LDK apartment to a 3LDK apartment because I wanted a storage room for my second-hand clothing inventory.
Also, if you can’t concentrate at home, a co-working space can help you focus and refresh your mind by simply changing your environment.
Self-Investment Is the Most Important
Self-investment is more important than buying products or investing in your environment because it’s what truly leads you to start your first business.
In my case, reading books and listening to audiobooks led me to start my first business. I wrote about that story in the following article:
Taking courses on your interests can also provide you with new ideas for your first business.
Interestingly, even if you think the course content isn’t useful at the time, it often turns out to be incredibly helpful after you’ve been in business for a while.
You should invest in yourself first, and then gradually invest in your environment and your business.
Take it step by step, little by little. You’ll get used to it.
Conclusion
The journey to starting a business isn’t about having a huge amount of capital; it’s about shifting your mindset.
As I learned through my own experiences, it’s normal to fear upfront investment, but that fear can be overcome by starting small and gradually increasing your risk.
Investing in products is important, but prioritize the most crucial investment of all: yourself. By improving your environment and continuously educating yourself, you’ll gain the confidence and knowledge needed to turn your fear into action and build a successful business.
I truly hope this blog inspires you to change your life!
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