As I write this blog I’m a bit irritated but I’m feeling a lot of positivity coming from my irritation. I had another phone call today with an aspiring entrepreneur getting ready to make the leap, but there was a problem that I hear all too often.
“I just don’t have the money to…” That’s how the conversation starts and the first thing I do is go back over their FB page to see all the vacations and other shit they love to do. I’M TOTALLY DOWN WITH YOU DOING WHAT YOU WANT, but please don’t expect me to give you any sympathy when you go another year without starting your business. You chose those trips and that time over your future business. How about this one…
“All I need is an investor to get me… “ STOP. STOP. STOP. STOP.
There are countless businesses each year that raise capital and have massive success over time, but that’s not the path I suggest 99% of the time. I personally love looking into the eyes of entrepreneurs that started with a single customer at their buddy’s house with the old equipment they bought on FB Marketplace. How about the lady that started her hair salon on the weekends with her two kids one haircut at a time saving 100% of that money and asking for referrals? That lady now owns four hair salons and it all started with a $10 cut.
Here’s the problem, the business schools teach these insanely complex principles and show us these massive companies when most of America’s businesses are making $59k per year including bonuses and other compensation. Yeah, $59k per year. That perception you had about all business owners being loaded is FALSE.
Steps for your to start your small business this year:
Create some sort of vision and objective that you believe you can get to. Use other examples of companies such as yours to “underwrite” the deal and make sure your economics match up.
Afford the worst-case scenario so your objectives aren’t derailed
Problem: Money to travel home
Solution: Teach golf lessons
Problem: Learn business
Solution: Hang with business people and learn from them
Affording your mistakes is the most incredible feeling. It’s euphoric. You’re SO PISSED when something terrible happens and then when the dust settles, you’re still going. You’re still shooting your shot, every day, while the others that didn’t save their money are GONE. They have to work for someone else now. Hey, if I’m stupid, that guy could be me, but the point is to avoid that at ALL COSTS.