Tuesday, April 22, 2008

10 Things People Told Me Before I Became an Entrepreneur?

1. They told me, “you should go back to school because the economy is bad right now!”

2. They told me, “you better not quit that good job you might not find another one.”

3. They told me, “don’t you realize most businesses fail within the first five years?”

4. They told me, “you should wait until you have enough money saved up and rebuild your credit.”

5. They told me, “you should open up a storefront because no one is going to buy stuff from the trunk of your car.”

6. They told me, “you should work for a business first, learn how they do it and then open up your own store.”

7. They told me, “you need to write a business plan first and then apply for a government loan/grant”

8. They told me, “you should keep your job and just run your businesses on the weekends.”

9. They told me, “if I were you, I would not quit my job because your business may not workout.”

10. They told me, “you should find a mentor and some investors, you are going to need at least $100,000 to start your business.”

I’m glad I never listened! Most of the people who told me these things were not entrepreneurs, but rather employees who somehow seemed to know everything about being an entrepreneur.

Truthfully, you will likely never have the perfect conditions to start your business, so you must stop wasting time and just go out and do it! I know you may feel that if you could just read one more book or attend one more real estate seminar you will be ready.

More than likely, you’ve already read enough books and know everything there is to know about creating wealth in your life. So please do yourself a favor and stop looking in the bookstore, the Internet, and self-help/business sections. There is one place that you somehow refuse to look – that place is inside yourself!

My first business was a success and everything I have invested in seemed to make a profit, and I say this not to brag, but to inspire. You see, I know I will encounter business failure at some point, but when I get to that point I will learn from it, become financially stronger and just go out and start another business. Is that so bad?

I always feel like I am in good financial shape because I put my mind through daily financial workouts and I have developed what I call “entrepreneur endurance,” and I understand that many of my business ideas may not workout or may fail, but I will never fail because I will keep thinking, creating, investing, selling and profiting from something!

Create Wealth, Enjoy Life!

1 comment:

Anonymous said...

The blog brings some key points out, First you are right I have read many books on creating wealth, paid attention to many publications, network braodcasts etc. I am an intelligent fairly young black man with a degree in business. I work a mediocre job for a national bank which gives me insightful knowledge on money and banking.

I have many ideas that will be successful when brought to life. I don't have the finances now or the investors needed to get the finances but I will.

I am the author of three books-two published one on the way-that will eventually make it happen for me to get started.

I am all for self-help and motivation especially for the black urban community. I was not always on the right side of hope but always had a dream which I now want to share and plant in others.

Congradulations on your success!