Since my pivot to “Small Business Test Pilot” on or about 24 November 2014, Free-Market Startup has been around for more than a year – and likely more like one and a half years. I’m not exactly sure when I started Free-Market Startup, but it was probably mid to late 2014. Check out the photo to the left. It’s the Wayback Machine’s (archive.org) snapshot of FMSU. Click on it to see a larger picture.
In an offline or brick and mortar type of business, you have to make relationships and hustle to get your first customer. That’s not unlike online businesses, except that the unknown is so very difficult to understand. In the online world, you really cannot door knock customers like a traditional startup does. It’s like learning a new language. How do you “speak” to your customer. If you don’t know where to find them and get them to respond, it’s like being dropped off in a foreign land and no one knows your language or culture. You surely don’t know theirs.
In draft of Journal-19, I’m making a change from multiple businesses to a single line of business. As the article mentions, I needed an exploration year to find my way. But, it really didn’t generate much in the line of revenue. The only business that made a dime was the real estate flipping I did.
So, with that in mind, I’m starting out 2016 with a renewed focus on working on one, not three or more businesses. In this new year, I plan to focus on one sector and then build on it. My focus will be on real estate as more of a physical business and then I’ll branch out into the “information as a product” business. Though it still sounds like I’m still doing more than one business, I hope my focus will allow me to generate revenue and eventually expand into a more passive information product – which is my goal.
You see, in a traditional small business you cannot use the internet or technology to leverage your skills and expand your customer base. Your efforts, at least in the short term, are in direct response to your kinetic efforts.