Part 6/10:
Tim illustrates this with a simple example: if you develop a directory for local coffee shops in Denver, the more listings you secure, the more users are attracted to your site. Each sale of a featured listing not only serves as income but also enhances the directory's attractiveness to consumers, creating a self-perpetuating cycle of growth.
The Role of Cash Flow
As a firm believer in the principle of cash flow first, Tim asserts that any aspiring entrepreneur should prioritize generating immediate income rather than seeking external funding. By establishing a service-based business model, individuals can start generating income right away with minimal risk, thus empowering themselves with options for growth and diversifying their interests in the future.