Blog

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

Need help with your Social Media & blog writing? Check out my Services page & Contact Me now for a free consultation.

5 Reasons Not To Become Entrepreneur

5 Reasons Not to Become an Entrepreneur-Reason #1 Your Idea Isn’t Good Enough

There are many reasons excuses that are keeping you from starting your own business.

I’ve heard it all, but there are 5 standouts that I want to tackle with you here in a 5-post series.   They are excuses that have held me back in the past.  I don’t want them to control you any more.

In this series, I will break down each excuse, drag it through the mud, and blast it to oblivion.  Hopefully, these excuses will be defeated and you can be well on your way to becoming a successful Entrepreneur.

Stay tuned for reasons #2-#5 in future posts.

Reason #1-Your idea isn’t good enough.

“I have not failed. I’ve just found 10,000 ways that won’t work.”- Thomas Edison

How many times have you heard one of your friends or family members talk about some great idea that could make them lots of money?  I bet, more often than not, a reason the idea never makes it passed the coffee table is that the idea-generator doesn’t truly believe that the idea is good enough.

I can’t tell you how sad this makes me.

How can anyone ever get behind your idea if YOU don’t believe your idea is good enough?

Once you believe in your idea, you’re on the right path to becoming a successful EntrepreneurIf you can believe in it, you can probably sell it. If you can sell it, well the gain is half the reward isn’t it?

Let me clarify.

Your idea is good enough only when you believe it to be true.  I don’t know about you, but, for most things, I need the facts to stare me in the face in order for me to claim something is true.  As inconvenient as it is, the facts won’t jump out in front of you voluntarily. Trust me.

In order to determine whether your idea is good enough, you have to do the work.  Research your idea, your competitors and survey your potential prospects.  You need to tackle every reason why your idea wouldn’t work and problem-solve until it is just right for you to move forward.

Here’s an example:

Check out my amazing Toothbrush Vacuum idea. It’s a toothbrush you can carry in your pocket that doubles as a miniature battery-operated vacuum cleaner. While brushing your teeth you could use it to suck up all the unpleasant lint on your clothing when you’re on the go.   It’s the toothbrush of champions!

 

I don’t really believe this idea to be good enough for several reasons I won’t get into but a simple one is that having lint near my toothbrush isn’t such a pleasant thought.

Common sense will never let you down.

Now I can table that idea, dust off my resume and start begging someone to hire me or I can keep at it until I have something real.  Perhaps I could sell novelty items like custom-made toothbrushes or uniquely shaped vacuums instead. I like the non-traditional and that means that there are others out there that could appreciate it too!

From the ashes of a not-so-great idea, I’ve created an idea that I believe is good enough.

Don’t sell your idea short.  You’re all it has. It needs you.

If you are toying with the thought of becoming an Entrepreneur, let me be the first to tell you that you can do it.  Even if your idea isn’t perfect now, it can get better with some thought and maybe a little bit of help.  The Internet houses countless resources and many of them are free or very inexpensive.

Research can be daunting. Keep at it. I want you to succeed.

Stay tuned for Reason #2 You Don’t Have Enough Money to Succeed

Need help with your Social Media? Check out my Services page & Contact Me now for a free consultation.

Entrepreneur

You Are an Entrepreneur

Entrepreneur: Anyone who organizes & operates a business or businesses, taking on financial risk to do so.

For me it means so much more.  It means, someone who is a leader and an innovative thinker. It is an individual who is a reincarnate of the generations before us.

Remember them?

The butchers, the bakers and the candlestick makers came to this country with big ideas and the drive to create and make a living doing exactly what they knew because they had to in order to survive.

Today’s successful Entrepreneur is driven by that need to survive and is now armed with hundreds of resources.

Anyone can be an Entrepreneur.

Success is entirely up to you.  

I’m here to walk with you on your journey and share my path with you as well.  I will teach you many things I have learned along the way and introduce you to many Entrepreneurs both successful and some who wished they never left the comfort of their cube.  There will be some great moments and times where you will feel like a failure.

Failure is a prerequisite to being a successful Entrepreneur.  It weeds out the fair-weather innovators and challenges the rest of us to work even harder.

It’s time you stop depriving the rest of us from all that you can become.

You are an Entrepreneur.