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3 Things Every Entrepreneur Needs to Know Before Starting a Business

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SUMMARY:

No matter what business you’re looking at starting, there are things every entrepreneur needs to know. Find out 3 things you should know before starting your business!

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Today I want to look at three things I think are really important for every single entrepreneur or soon to be entrepreneur to know before starting their first business. I’ve started, bought, and sold a few different businesses and gone through a lot of ups and downs and different challenges, and I want to share some insights I’ve picked up along the way. There is a link to some free training where we go into more specific detail about how to start a successful business managing other people’s properties on Airbnb, and if that’s something you would be interested in learning more about, I recommend you checking out that link.

The first thing that’s really important for everyone to remember is that being a successful entrepreneur doesn’t happen overnight. It takes a lot of time, and the results will start growing exponentially over time. So when you’re stuck in the initial phases, and it’s taking time to get your first client, don’t stress out too much. You need to give yourself the space both mentally and financially to take the time necessary to really hone your craft and become skilled. So number one, it takes time to become a successful entrepreneur, and number two it takes skill. It’s not something innate that some people are just born with the understanding of how to acquire customers and how to market, and how to run a financial analysis of your business. Those are skills that need to be learned. Just like someone would need to learn a very specific skill set to become a brain surgeon, there is a specific skillset that you need to set up the business you want. Not every doctor is a brain surgeon, so likewise you can learn the general skills about running a business, but there are more specialized skills you will need, depending on the type of business you are looking to run.

So for example, we have a program where we teach students how to start up a property management business, managing other people’s properties on Airbnb. It is specific to that type of business, it’s not going to teach you how to start a drop shipping business or how to make money in the stock markets. If you go to a general entrepreneurship course, you will learn some general skills and tips, but if you take more specific training, you will have a better outcome of becoming an entrepreneur who is successfully running a specific business and making a profit. I recommend getting those specific skillsets necessary for your business, whether that is finding a niche business coach, or finding a specific online program versus generalized courses on entrepreneurship.

The third thing that I think is one of the most important thing to remember is that mindset matters. It’s a constant game of ups and downs and struggles and challenges. It can be lonely when you’re doing something completely outside the box, and sometimes you can wonder if you’re heading in the right direction. So don’t expect it to be easy, something you can breeze through. Remember that you need to be committed to going all the way through the challenging parts to get the end result.

VIDEO TRANSCRIPT:

What's up guys, it's James here and in today's video, I want to talk to you about three things, I want to narrow down three things I think are really important for every single entrepreneur, or soon to be entrepreneur knows before starting their first business. Now this point I have started, bought and sold a couple of different businesses. So I've gone through a whole bunch of different ups and downs and different challenges and entrepreneurship and I want to share some insights that I've picked up along the way.

Now, by no means is this video, some kind of a an inclusive and all inclusive guide on how to start your own business or be an entrepreneur. The reality is that that would be as crazy as trying to make a video about how to become a brain surgeon, you know, takes a lot of training, a lot of expertise to do it successfully. And so no one video is ever going to give you everything you need to start your own successful business. However, you can get there with the right training and taking the right steps. And these three tips I hope will help to expedite this for you hope to kind of clarify some of the muddied waters around entrepreneurship and what it takes to be a successful entrepreneur.

So before I get started, I do have some free training link down below that I'll be referring to as well throughout the video. That's really, really useful if you want to get started specifically earning a full time income managing other people's properties on Airbnb, insert that as your first or your next business. So if you want to check that out, that's going to be a more in depth training of the exact specific steps, which is really, really great. So if you want to get into that, then I highly recommend clicking the link down below in the description and checking that out.

So time for tip number one, the first tip I will give you with starting your own business getting into entrepreneurship for the first time is to smash the like button, please do that for the YouTube algorithm, take a quick half a second here, and just click that like button down in the bottom corner. It helps me out tremendously with YouTube's algorithm. So please take a quick half a second and click that like button. But in all seriousness, now the first thing that's really, really important for everyone to remember is that being successful as an entrepreneur takes time, it's not going to happen overnight.

And the results that you get are going to grow exponentially over time. So if you're stuck in the initial phases, not able to get your first client for the first couple of weeks, the first month, the first two months, don't stress about it too much. and plan ahead so that you can or you can afford to take the time necessary to really hone your craft and get good at entrepreneurship, get skilled at entrepreneurship, it's not something that you can become masterful. For overnight, you can't become a master of anything overnight. Imagine again, trying to go and become a brain surgeon and start operating within a week, within a month, it's just not going to happen, you're not gonna be able to be successful with it.

Now, does that mean that you can't make money for six months or 12 months from when you start? No, absolutely not. You can, of course, expedite the process in a number of ways. And it doesn't have to take forever, but it does take time. And so you need to give yourself the space both mentally and financially to take that time, whether it's a couple of months or a couple of weeks. So number one is that it takes time really, really important to remember that number two is that it takes skill. Now, a lot of people would lead you to believe the Gary Vaynerchuk out there in the world that entrepreneurship is some innate thing that some people were born with, as if someone you know was just born, understanding how to acquire customers and how to market and sell and how to run financial analysis on your business.

And that's just as stupid as thinking that someone was born with the ability to cut someone open and do open heart surgery. Obviously, no baby is going to be out there doing open heart surgery, no one's born with the ability to do that. Just like no one is born with the skills that it takes to be an entrepreneur, it does take skill, you need to go and learn those skills, and it absolutely can be taught, it's just that it isn't taught very well in society right now. Because it's not as cookie cutter as a lot of other professions, at least not in a more general sense. What I mean by that is that it takes very, very clear steps to become a brain surgeon and there is a path that you can go to in the traditional education system to become an OT to become a brain surgeon.

Now, if you went and got your PhD, you became a doctor, maybe you got your became just a general practitioner, that does not mean that you have the skills to go and do brain surgery on someone obviously, right? We all know that. And so similarly with entrepreneurship, you can learn the ins and outs of running a business in a very general sense. But that does not mean that you will be able to go and actually start and successfully grow a specific type of business that is going to require specific knowledge specific skills and specific training. So as such, it's often a misconception that people throw out there that you cannot teach entrepreneurship.

Well, sure you can teach entrepreneurship In a couple of different ways, you can teach a very broad sense of entrepreneurship. But that's not necessarily going to give someone the skills that they need to go and start the business that they want. So you can teach it in a general sense, or you can teach it in a very specific niche sense. So what I mean by that is we have a program that we teach students how to start a property management business, managing other people's properties on Airbnb, it is very, very specific is very, very actionable, it is not going to show you how you can start a drop shipping business or an Amazon FBA business, or how to make money in the stock markets.

You know, if you go and take a general entrepreneurship course, then you're going to get general applications for it. And you're not going to be able to actually really apply that and get results. However, if you take a specific training, you learn a specific set of skills, then you might not get that broader, more general view on things. But you will have specific actionable steps you can take to get real results and get the outcome of being an entrepreneur who successfully running a business that makes profit. So there it is, it takes skill, very, very important. That's something that I think there's a huge amount of misconception out there in the world about right now is it it absolutely takes skill to be an entrepreneur, and it's not something that anybody's born with.

That's why I highly recommend when you're first starting out, that you go and get specific knowledge and specific skills from whatever source that might be, whether it's an online training program, whether that's working with a coach, and I highly recommend a very specific niche program or specific niche coach, if you're looking to get actionable results, if you're not so concerned about actually starting the business successfully, and more just want to learn about entrepreneurship in a general sense, then some of these more general courses or entertainment type things can be useful, and can be kind of interesting, but they're not actually going to give you at clear action plan to go and get results with.

So number two is it's really important to remember that takes skill. The third thing that I would say is arguably one of the most important and certainly has been for me is that mindset matters. in entrepreneurship. It's this constant game of, you know, ups and downs and struggled and challenges that there's no real clear answer to now, my hope is that over the coming years, that's going to change. And I want to make a large part of actually being a part of making that change happen so that we have really specific paths that entrepreneurs can take similar to the way there's a very specific path that someone who wants to be a brain surgeon can take through university to accomplish that and goal.

However, right now, there isn't a really clear path. If you want to do something completely outside of the box, which entrepreneurship very much is in pretty much every sense, there are isn't really a very clear path to take. And so for that reason, it can often get a little bit lonely, you can often feel like you don't know if you're doing the right thing or not, it can be unclear whether you're heading the direction you want to be headed. And overall, there's just a lot of different stresses that can come along with the career as the same way that there is with any other one. Now, if you're going and bringing a brain surgeon, there's a whole different pile of stress that comes with having someone's life in your hands quite literally every day at work. And so similarly, with entrepreneurship, there's a very different set of stresses.

And I'm not trying to equate the two to one another in any way, shape, or form. All I'm trying to demonstrate is that with any career you choose, if you're really trying to do something great and you're trying to do something challenging, then there are going to be challenges along with that it is going to be hard mentally, and so you have to prepare yourself mentally. And there are a number of different skills that you can adopt. That's why we focus very heavily on that in our training, we don't just focus on the specific action steps, we focus on giving you the tools that you need in order to be able to implement those action steps without getting in your own way and actually get the results.

At the end of the day, knowing what to do is only one part of the equation to run a successful business, you also no need to know how to actually go about doing it, how to develop the mindset so that you'll actually go and implement it, you know, your mind is a muscle just like anything else that you need to go and actually build, strengthen, so that you can build the proper habits that are going to lead to your success.

So really, really important to just boil it all down. that mindset matters. And just to remember that when you're going into starting your own business, don't expect it to be something that's easy without challenges and that you're just going to be able to breeze through it. You need to be committed to going all the way through the challenging parts to get to the end result. That's going to be absolutely phenomenal the amount of freedom, the amount of financial independence you can get from being an entrepreneur is pretty unparalleled in the world.

There's nowhere else where you have this kind of unlimited upside that you do is with entrepreneurship. But that comes at a cost. It's not just handed out to everyone that starts in entrepreneurship. You need to work for it and be prepared to deal with the setbacks and challenges that come along the way. So I hope this has been really valuable for you. I hope that you've gotten some insights for it.

If you have any other insights to share. If there's anything that you have experienced along your path of either starting your own businesses or wanting to start your own business, any challenges you come across any insights you've gleaned Then leave them in the comments down below, I'd be really, really excited to hear them from you. As always, if you like this video, please give it a big thumbs up, please click that like button.

And if you do want some specific training on exactly how to start a business managing other people's properties on Airbnb, and how to build that business effectively and shortcut that path success by working with someone who's got the skilled training to give you that that you know all that knowledge that you need and all those skills that you need in a really concise and clear way, then just check out the link down below. There's a free training they'll tell you more about what we do and how we do it. And they'll walk you through step by step how I was able to build that business really successfully. So again, like always, I hope you've gotten a ton of value from this video, and I'll see you in the next one.

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