micro business

How to Blow $100K in 18 Months For starters, we broke a stack of the same rules we were teaching: Rule #1 (from the Third Paycheck website): If you cant bootstrap it, then its not worth doing. Instead, we pushed investment money into the business instead of making it pay for itself as it grew. EPIC FAIL. Rule #2: Create a profit quickly. Instead, we were willing to invest while the company made very little money for a long time. EPIC FAIL. Rule #3: Launch canoes, not warships. In other words, run lots of small marketing efforts that cost little money until you find one or two that rock. Then, double down on the winners and sink the losers. Instead, we built a small warship with employees, computer programming, a slick website and the works. EPIC FAIL. Natalie Allen took a bullet for all of us who participated in the downward spiral of Third Paycheck, a small business coaching company, by interviewing with Micro-business Fanatics to reveal what shed learned. Third Paycheck was conceived to provide micro-business coaching to folks interested in starting a small business not coincidentally, its the same business model as Micro-business Fanatic. The coaching itself worked famously. The clients were generally thrilled with the quality and impact of the coaching. But Third Paycheck just couldnt get their marketing off the ground. They failed to get their message out to enough new clients. As Natalie unpacks the black box of Third Paycheck, she talks about three major lessons …