How to Start a Business in 60 Minutes or Less 113

How to Start a Business in 60 Minutes or Less

The following article is a guest post.

People spend (waste) a lot of time in social networking sites like Tumblr, Facebook and Twitter.

People also spend a lot of money on buying coffee every day.

Seems out of the topic? Well, if you just paid a little more attention to these things, you would be surprised to know that you could have built a lot of businesses with that amount of time and money.

Instead of watching a short movie, or surfing the web for 60 minutes every day, you can commence a commercial activity!

My people think that starting a business is a slow process and requires a lot of work. That is not necessarily the case. You can now just promote something to the world in just an hour or so! Sometimes even less! You can start a new business based on your existing talents like photography, coding, writing and also music.

This is possible because of online tools like Shopify that help with starting your business faster and easier than you ever imagined. All the tools are either affordable or free.

The business you’re about to start can be new or existing as well. It can be something that is entirely new or something that is a division of your current business. If you’re still wondering how to start a business in just 60 seconds, read on!

Building a Digital Business in an Hour

1. The Preparation Stage.

Time: 25 Minutes

Before starting a business you need to create a model that consists of four entities.

  • The main objective: You need to have a detailed version of your goals and ideas, and your intellect that you’re about to monetize.
  • Existing problems: Make a detailed outline of the existing problems that clients and customers are facing today.
  • Solutions: In this section, you should have the solutions and fixes to the existing problems in the market.
  • Analysing the market: This is a section of vital importance. You need to make a detailed analysis and survey of the market, to understand it better.

Make sure that the business model revolves around the skills that you already possess. At the beginning, it is recommended to start your business in low key. If you want someone like your close friends to be involved in the business you can send them invitations we are email or phone calls and ask them to join your business.

2. Launching The Business.

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Time: 25 minutes

This is the most important part. The first impression always lasts the longest. If you’re planning to start an online business you can use Shopify to create an online store for you.

The process is hassle-free and more efficient than creating one yourself. If you’re planning to create a brick-and-mortar store you can use the business tools that Shopify provides to launch the store efficiently.

Start the business by selecting the right name for your store. This can make a huge impact in drawing customers in.

Find a name that is catchy and not trashy as well. The name can be changed later if you feel that it’s a better strategy. Select the right kind of slogan with Slogan generator from Shopify and add it to your brand.

In the case of a digital business, make sure that you choose the right kind of website design template based on your target audience. Create pages for your business on social networking sites like Facebook, Instagram, and Twitter and share them with your friends and the world.

3. Formalities and Legalities.

Time: 15 minutes

Your business’s legal registration is something that is important right from the start. You should pay close attention to it. If you already own a business you might have known how important this procedure is.

If you want your new business to be combined with your existing one, you just need to call your Chartered Accountants and ask them to complete a few formalities.

If you don’t own an existing company, and if you’re starting this company right from the scratch you can opt for a general partnership.

There are many service providers who are specialists in business formations, so you can get their help. They can provide advice in areas such as trademark registration and tax solutions. Justs send a quick message to your service provider or CA and you are done with your legal formalities.

Congratulations! You’ve just started a new business!

You’ve been productive by starting a new business in 60 minutes. Just think of the possibilities of what you can do in the next few hours. You can take your business to the next level.

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One Guy’s Journey from a Work-at-Home Transcriptionist to Starting an Educational Institute 5

One Guy's Journey from a Work-at-Home Transcriptionist to Starting an Educational Institute

This is an interview-style post with Mahesh Kumar.

Hey Mahesh. What do you do?

I’m the Spokesperson of the Transcription Certification Institute, an Ellensburg-WA based educational institution that provides an in-depth online transcription training and certification course.

The online course, which is created by industry leaders, enables transcriptionists to gain a well-rounded understanding of the field and become a professional transcriptionist for better job prospects and higher wages.

How did you start your career?

I’ve started my career as a home-based transcriptionist and have experience of 8+ years in transcription industry. I’m currently on a mission to help work from home moms and make them aware of one of the straightforward and lucrative way of earning money from home, i.e., transcription.

I love writing and so I regularly share my words through my blog. At present, I am working as the spokesperson of Transcription Certification Institute.

What inspired your journey?

I was not cut out for regular jobs because of health and family issues. But, I wanted to earn decent money.

Most work from jobs required me to be online during fixed hours. That did not work for me.

A friend referred me to a copywriter who needed transcription services in an extended time frame. This was my first assignment and exposure to the industry. I had issues with grammar and lots of difficulty in understanding accents. My transcriptionist friend gave me the very first lesson in punctuation. It was a great lesson.

That was the aha moment!

I wanted to share it online with all other new transcriptionists. My expertise in transcription was still limited but my interaction with other transcriptionists. And other work from home professionals found that there was no organized information in this industry.

That’s when with the help of the team we created an ebook as would serve as a handbook to transcriptionists. It was called Everything You Need To Know About Work From Home: General Transcription Business Opportunities.’ It’s available on our website for free.

What is the transcription business about?

It’s a dream that allows parents, caregivers and those with disabilities to stay at home and earn.

We call ourselves Team TCI. None of us has complete skills but together we have made a dream into a business that is sustainable, profitable and manages to help others earn more.

We like to think of ourselves as not just one single successful business owner but a team of accomplished transcriptionists and hedonists who have come together to share their expertise on a platform that is globally accessible to all.

Our objective is to make you a better transcriber so that you can earn more at the same time. 

Through our internship program, we ensure that new wannabe transcribers get a foothold in the industry. Our job board aims to bring transcribers and employers together on one platform to make hiring and finding jobs easier.

We are 9+ years old but the journey has only just begun.

What were your biggest challenges when setting up the institute?

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Together, we had 2,459 dollars to spare!  This was just enough to put up a website and host it for a year.

We had no budget, no marketing plan and no strategy.

More than money we invested our skills, time and above all intent. When we launched, making money was not the objective. The objective was to share information, educate and in the process recover the costs.

We were totally bootstrapped. In fact, we all transcribed extra hours to generate money.

Each year we invested the money earned in the course, it’s upgrade, website upgrade and more. All exams are manually graded and that is expensive.

What do you offer on the website and who can benefit from it?

We offer a course in general transcription.

Our course is for anyone who wants to work from the comfort of their home, enjoy flexible timings and the ability to choose workload. The course is very popular with parents of young children who want to be around when they grow up, ex-serviceman with disabilities, single moms and others who want to work from home.

Some would say that there is nothing to be learned in general transcription but that would not be true. I did start out without training and if it not had been for the help I received my career would not have been successful.

In fact, as the popularity of transcription as a career option grows getting a foothold in the industry is becoming tough. That is why we came up with an internship program that gives hand on experience to new transcriptionists and exposure to the industry.

The job board benefits them by bringing employers and transcriptionists on the same platform.

What’s one thing you do to unwind?

We were introduced to meditation a few years back and to unwind we like to meditate.

What’s your favorite book?

It keeps on changing but time and again for inspiration, I find myself reaching out to The Alchemist by Paul Coelho. Never stop dreaming! Give context to your dreams!

Check out the story of how one guy went from a work at home transcriptionist to setting up a transcription institute and help others start working from home.