Starting a business from zero often seems like a daunting task, but it’s more dangerous if you decide not to.
When I started my first affiliate blog business in early 2012, I often looked back on my shoulder, trying to place where I’m truly headed with it. My head was always heating up with bad vibes about the thought of not running in the right direction, but I kept pushing at it.
And within six months, I drove it from 0 to 4 figure monthly income within one year. Then, I flipped it for five figures USD sale via FE International brokers. And since then, I’ve founded multiple businesses in the last eight years with sweat on my brow and laughter on my cheek. Fascinating stuff.
And now I’m at it again with a new bang.
I have decided to test new waters with this profitable business. This time I’ve decided to start an agency company from ground zero with ‘no or little’ investment and scale it to $50k a month revenue within 12 months.
The idea didn’t pop out from thin air; there is a story behind my decision.
It started as a bet.
Why I Decided To Start an Agency From Zero
Few days ago, I just sitting in my home office when I a friend of mine pumped into my chat inbox.
I’m just worried about the spike in the rate of unemployment due to Covid-19. It’s so sickening!” She said.
I burst into a huge laughter. This is what we talked:
Yes, unemployment rates are going high but it shouldn’t be a concern for someone with the right skills. Here is more of our conversation:
How about I start a business with a hidden identity and with zero capital? I’ve done it before, I can do it again.” I said to her with a straight face.
So you see, I love challenges. And that’s what spurred me into accepting this challenge – Find work or start a business from zero.
So, What’s the Plan?
A project with no goal is bound for the rock. That’s the reason I set my agency revenue goal to 50k$ MR within 12 months. I have some initial thoughts about the layout to achieve this.
But why agency business?
I decided it has to be an Agency business because agencies generate cash flow incomes very quickly.
The questions is – Can I achieve it while:
- Not revealing my identity that I am already a business owner with several other businesses.
- Not using my existing contacts.
- Not investing any money initially.
The goal would be to go and find some basic freelance work from sites like Upwork or Fiverr and find some initial works that match my skill set.
This would help me generate my first $1k-2k income. I will then use the revenue generated as investment to regenerate more money and lay down a groundbreaking plan in seeking a team to help leverage my tasks.
I’ll spend first three months to continue growing and generating as much revenue as possible while still bootstrapping.
And once I have saved enough cash, ideally around three months after the start, I would hire a team and give way for easy leverage.
At this time, I will register my company and aim to achieve at least $5k monthly revenue. From there, my newly hired team would be responsible for growing further and establishing monthly recurring customers.
Once we are already hitting $10k revenue per month (expecting around six months from the start date) – I would start establishing SOPs (Standard Operating Procedures) – and leverage my work completely. By now, I would have a complete understanding of the market and its dynamics. Now would be the opportunity to use my experience and aim for $50k per month revenue within the next six months (i.e twelve months from start date)
Here’s the breakdown of my target monthly revenue:
- First month – $1000; finding some basic work.
- Three months since start- $5000/mo and then use this capital to establish the brand & find team.
- Six Months since start – $10,000/mo; Establish SOPs, increase team size and leverage myself.
- Twelve Months since start – $50,000/mo – Target
Can I win this bet?
For me, the key would be to document how it goes and learn from the experience. And this is what I’m bringing to you for the next 12 months of my new agency business.
This is where I’d learn firsthand how things are fast-moving for me. I will post once a month to give you updates on how the agency is fairing and how I am riding the tide, and also see if I’d win the bet with my friend or not.
I view this whole process as an experiment. Worst case, I will lose the bet and accept that getting a job or starting a new business is now difficult in 2021 as compared to what it was in 2012. Best case, I will get at least one customer to prove and validate that the dream is still alive.
Get Ready for Launch – Aug 18, 2021
Month 0: To-Do List
- Conduct market research about the latest market trends on skills required.
- Create a simple business plan. Then, focus on how my business will make dollars around it.
- Find some basic freelance work to get some dollars in pocket and use it as investment capital.
Month 0: Not-To-Do List
- Spend hours agonizing over small details.
- Seeking validation from friends or family.
- Wasting time in designing website, logo, etc
- Registering a brand without validating the idea and market.
Next month, the journey continues