The Best Entrepreneurial Advice I Never Received
The things that only experience can teach you
We have all read one time or another that the best thing you can do for your life is be your own boss. It is in the heart and soul of every reader/viewer who has seen or read a motivational video. Typically, they have a cheesy title to get you to click on the content. Personally, I am not a fan of those content pieces. Most of the videos are a facade for what the real life of an entrepreneur is.
I’ll tell you why I am not a fan those of videos, articles, or any piece of content that motivates people to do something great.
The reason is because I fell for it. I fell for the lifestyle of being an entrepreneur, but failed to realize the amount of hard work, dedication, and sacrifices that needed to be made in order to reach that life.
To be specific, most entrepreneurs don’t live a lifestyle that those videos depict.
My first real exposure to the entrepreneur life was through the book The Millionaire Fast Lane by M.J. DeMarco. He sold me on the idea of passive income. While that is a fantastic idea on paper, it never will be passive for as long as you want your business to keep growing. While it was a great book with plenty of eye openers, I was still sold me on the idea of becoming an entrepreneur. Although M.J. DeMarco mentioned his struggles throughout the book it was easy to ignore the parts I didn’t want to hear after reading about the money he made. Aside from passive income and other legitimate (and personal) reasons, I choose to go the entrepreneur route.
I became well aware why I wanted to become an entrepreneur after my first internship in college, due to the fact that the office lifestyle was not my forte. I graduated college 4 years ago have and yet to find a job in my field. My marketing degree became useless, once social media became one of the most prominent ways to reach one's target audience. The thing that got to me the most was the fact that I was working as a waiter but making more than most marketing managers. I also realized the other side of the coin, everyday for the past 10 years of my working career I went to work to make somebody else richer and that is what changed my mindset.
Enough about me, I will give you more insight about my ventures later on. I want to help the viewers that just saw that entrepreneur video, to help them succeed because I’ve been there. There are many times I have had snap out the epiphany due to the fact that being an entrepreneur requires a lot of time and labor.
Reality is truly a b**** when it smacks you in the face, but that is what this generation needs. We all have great ideas, but we all lack execution. We want everything handed to us on a silver spoon because thats how most of us have been raised.
I look at my parents, both immigrants, who were able to create and sustain a life where I had everything. They started at a disadvantage, with no money, no English, but still were able to make a sustainable living. Being faced with daunting challenges, they were still able to succeed and create a life for themselves. Their way of living meant working 2–3 jobs just to keep the lights on. The goal for the Millenials should be to succeed and surpass what our parents accomplished due to the fact they made it easier for us.
So I leave you with some advice for those of you who are fortunuate enough to read this post. I am giving you the best advice that I wish someone told me from day 1. I may not be an expert, but I am definitely on a learning curve, as I learn to build and grow a sustainable business.
ADVICE #1 — KNOW YOURSELF.
I told myself I wouldn’t quote Drake on this one, but he’s absolutely right. “I’ve always been me, I guess I know myself” — Know Yourself. I reference this because you need to analyze who you are, what makes you happy, what does success mean to you, and what makes you feel accomplished. These are all questions you should really ask yourself and take the time to find the answer. There is no shame in working a traditional 9–5. There are many benefits when climbing up the corporate ladder. Most people are fine with 40 hour work weeks, while others prefer 60–80 work weeks. Most people look forward to the weekends where they can spend time with friends and family.
Just stay true to you and do what makes you happy, and make sure yourself first.
ADVICE #2— DO YOUR HOMEWORK.
Seems cliché doesn’t it? But if there is one thing that I learned in school that translates into today’s business is doing my homework. Many people take a leap of faith with an idea without doing the homework necessary to know whether the idea will be successful or not. Just because you or your friends think it is a good idea, does not mean the market does. The market and the consumers within that market dictate your success. You may think you see something the market doesn’t or that could disrupt an industry. Without the proper research which falls under understanding your consumers, the competitors, or a monetization strategy you are already setting yourself up for failure.
ADVICE #3 — IDEAS ARE NOTHING WITHOUT EXECUTION
This guy falls hand in hand with the next two pieces of advice. I am huge fan of Gary Vaynerchuk (@garyvee on IG) and the content he releases. This specific quote is actually one of the first pieces of content I fell upon, and ever since started following him on every platform. As I mentioned before, we all have good ideas but it is our job to act upon it and make something happen. Whether your idea is successful or a failure, at least you went out and tried. There is no greater regret than thinking of the shoulda coulda woulda of an idea but let it deteriorate because you failed to execute.
ADVICE #4 — BE CAREFUL OF WHO AND WHAT YOU WATCH
This falls within the conversation about Gary Vaynerchuk again because you have to filter who and what you watch. I highly recommend Gary because he shows what the true life of an entrepreneur is, and let me you tell it isn’t pretty. He barely sees his family, constantly on red eye flights, and is hustling daily to not only build his brand but his business as well. So if I were you, I would take the time out to unfollow many of those facade profiles. Those profiles on social media lead you to believe that being an entrepreneur is easy, but in reality it isn’t. If you really are hustling, then you shouldn't have the time consume the BS thats out there. Any free time should constantly be used to see how you can improve yourself and your business.
ADVICE #5 — UNDERSTAND THE PATH YOU ARE CHOOSING
This falls in tie with the first piece of advice that I gave you. You have to strong awareness of yourself but also of the path that you are choosing. Understand the path that you are choosing is the path of most resistance. It is the path that could potentially ruin relationships, friendships, and family ties because decisions you make. Understand that you have to give up the stability and safety of a 9–5, and live with the uncertainty on how you will pay the bills. Understand that even if you had made $100,000 that does not mean you can go out and buy a BMW. Understand that out of that $100,000, maybe 5% goes to you and the other 95% goes to reinvesting into your business. Forget about faking it till you make it, and forget about all the flashiness that you thought being an entrepreneur brought. Understand that this path is not easy, it is high risk but could be high reward. Just practice patience, self control, and avoid immediate gratification so you can see the results 15–20 years from now.
