It’s almost three years since I resigned from my full-time job and started freelancing. It was not always smooth, especially the cash flow, to be honest. But I see hope for people who choose this path of living after I read this book, “The Dollar Warrior”.
I came across this book, “Pendekar Dollar” or translated as “The Dollar Warrior,” about a year ago from an online bazaar. It was so cheap that I would resell this book again for Rp 35.000 (around 2 bucks) and still gain profit. But the content of this book is worth much more than a hundred bucks. Get this book from our store before somebody else buys it!
The book is quite thin – xiii + 117 pages – you can finish it in one sitting. I did finish reading it last year, I took notes of some important insights, but after a year, I still want to reread it.
This book is written by 11 contributors, curated by Indra Permana, an online business owner and business coach. Each contributor tells the story of how they gained success in online businesses, their struggles, and the lessons they learned from their experience in starting a business. Among them are web designers, affiliates, internet marketers, and online shop owners. Each of them writes their part as if talking to you in person. They even shared their contact information that they are willing to help you be successful in this type of business, too. I recommend this book for people who have just started or are just thinking about starting an online business.
This 2017 book might be vanishing from the market (and I only have one copy of it), so I thought it would be helpful if I share you some insights I got from the book. But I still recommend you to read the book yourself because the personal stories are best read from the book.
Here are some insights I got from “The Dollar Warrior.”
1. Focus on one field, be consistent, and wait for at least three years
For a person who has just started a business, seeing diminishing savings used for building a business can be overwhelming. The inner urge to give up the business and start some other business again can be huge. Especially if you cannot find the correct form of support from family or your close ones.
However, the writers of this book suggest that we stay consistent in one niche for at least three years because a business won’t suddenly show its profitability. Ending a business too soon would just incinerate your capital to nothing. And if you continue to do so for the next several businesses you build, you are just done!
2. Find a mentor
Although experience is the best teacher, a mentor can help you accelerate learning. Look for the people who has similar business model as you have, learn more about them and their business decisions. And if possible, get in touch with them.
3. Develop a good business model
A good business model is one that can create freedom for you, so you have the flexibility to learn something new and develop further. It must also be scalable, meaning duplicable and easy to develop, so that once you want to open a new branch or create another similar business, you can immediately adopt it for the new business.
It must also be strong and sustainable. Build a business that you have full control over. You don’t depend on other people. The more control you have, the more sustainable your business be. For example, when your business is selling a product that is not your brand, then the brand collapses, and your business would also collapse. So, owning your own product, your own brand, is a way to make your business more sustainable.
“If you don’t drive your business, you will be driven out of business.” Tantan, Product Creator (on page 40)
4. Start from today, start using what is available to you
If you want to start a business, but you hesitate, listen to this. The best time to start a business is not when you have a huge amount of capital. The best time to start is today.
Use what is currently available to you to start now. Then aim for growth little by little.
The world evolves fast. What is on-demand today might not be on-demand tomorrow. Your time window for opportunity is narrow. Many people are racing toward your very same goal. So, do now!
5. Networking is important
Business is about networking, either online or offline. From the people you know, you may get new customers, a new business partner, a new mentor, or a new investor. You would never know where your next opportunity would come from.
So, join communities, attend gatherings, meet new people, and the ones you already know, too.
6. Have a good management
If you want to build a big business, good management is a must. At the beginning, you must be good at managing yourself. Because you are the business owner, no one would tell you what to do. You should manage your work habits, making sure that everything is done on time.
Then, build a team as soon as possible. A team enables you to do more than what you are capable of. You would have more hands to work, more heads to think, more eyes and ears to observe. However, a team would be useless without good management.
7. Build a good database
In this era, knowledge is power. The one who has the biggest data can make the best business decision. Starting data collection is best when your business is still small and your data is more manageable. As you grow bigger, you will get bigger data, and you can use it to make the best decisions.
8. Obstacles trigger creativity. If you don't find obstacles, create them
Don’t complain too much about the obstacles you face. Embrace the obstacles as a door that leads to growth. Obstacles can make you discover better ways to do something. It makes you creative.
The real problem arises when you don’t find any obstacles. You might be staying too long in your comfort zone. You are not growing. But what can you do? You can create an obstacle if you don’t find one. Step out of your comfort zone. Be brave and grow.
9. Practice what you have learned
Now that you have learned a few principles, it’s your turn to put it into practice. Otherwise, everything will be lost in vain.
So, are you ready to be a dollar warrior?
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