5 Reasons Not To Become Entrepreneur, Entrepreneur, Finance

5 Reasons Not to Become an Entrepreneur-Reason #2 It takes money to make money

“Empty pockets never held anyone back. Only empty heads and empty hearts can do that.” -Norman Vincent Peale

Reason #2-It takes money to make money.

Convincing yourself to become a successful entrepreneur is no easy feat.  Your most recent excuse for not pursuing the life of your dreams is a common one. Although your great idea could secure you financially for years to come, the start-up money simply does not exist. How could you expect to burst onto the scene when you are currently living from paycheck to paycheck?

You’ve probably subscribed to the following school of thought: Most successful entrepreneurs you’ve heard/read about were able to skyrocket into the small business world by using money that conveniently happened upon them i.e. trust fund, inheritance, wealthy parents, generous spouse, lottery winnings, BINGO, etc. And as you read this, you are likely nodding in agreement and uttering a phrase that angers me to no end,

“It takes money to make money.” What a crock of s#@t!

In g-rated speak: This is a myth! A debilitating one. It implies that you need to invest a certain amount of money into your business in order for it to exist, let alone grow and generate satisfactory financial returns. By application alone, this myth has defeated you before you’ve given yourself your best chance to succeed.

The requirement of money before starting a business is a myth because it is inherently untrue.  You can start plenty of businesses, including an internet business, with zero money.

Because I know I am provoking you to argue the above, let me direct your attention away from the requirement of start-up money and have you focus on asking the right questions.

Wrong Question: How much money will it take to start a particular business?

Right Questions:

What resources do I need to start this business?
How can I get these resources?
What can I trade in order to get those resources?
Who, where, when and how can I trade what I have for what I need?

Get creative about money.

In most cases, money is the most obvious resource. But you’ve got to change the way you think about money or the lack of it before you can become a successful entrepreneur. If you don’t have much or any money to trade for what you need, you just need to get creative.

Try trading your time and/or mental effort for certain skills.  I have bartered some of my time and certain professional advice and have received software in return.  Money may make it easier to get what you want, but what matters is having something to trade.

Mentally, you must fight the urge to lose before you’ve entered the race. This mindset is a precursor to a failed attempt. A failed attempt may mean an end for you as a successful entrepreneur. End of business. End of dream. End of story.

Change your mindset about money and the opportunities are endless.  Now, you’re in business. Dream continues. Success awaits.

Stay tuned for Reason #3 You Don’t Have the Time

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