Q: I want to start a business but I don't have enough money, no money. What do I do?
No money is a disaster!
Let me help you BEFORE you suffer more!
My best advice is for you to QUIT!
What?
Yes! Just quit!
Honestly, it’s too difficult!
It’s complicated!
No money… no business!
Right?
I’ve been there before, and you know what I did?
I QUIT!
When I faced difficult problems I would go home each day avoiding the challenge. I gave up easily. Very easily!
It was painful!
Every day I ended up in bed feeling empty, defeated — like a victim.
Victim of what?
I want to start a business but I’m out of ideas.
I want to start a business but I don’t have the time.
I want to start a business but I don’t have the right connections.
I want to start a business but I’m too late to the market.
I want to start a business but I don’t have a business partner.
I want to start a business but I’m too old.
I want to start a business but I’m too young.
I want to start a business but nobody supports me.
I want to start a business but I dont have the skills.
I want to start a business but I can’t find customers.
I want to start a business but I dont have a prototype.
I want to start a business but it’s too hard.
I want to start a business but my family wont support me.
I want to start a business but I’m in college.
I want to start a business but I will be embarrassed if I fail.
I was a victim of my circumstances.
To answer your question:
Welcome to the entrepreneurial life!
So there you go! This is it!
Your new job is to solve problems! Difficult problems! Multiple problems!
But now let me tell you the truth:
WE WERE CREATED TO FIGHT! WE FEEL AMAZINGLY ALIVE WHEN WE ARE FIGHTING FOR WHAT WE BELIEVE IN AND WHAT WE WANT!
Whenever I give up and went to bed defeated, allowing my “victim” attitude to take over — I was DEAD!
Really! There is no worst feeling on earth than embracing defeat!
So what should you do?
NO MONEY? CHANGE YOUR ATTITUDE!
No money? Solve it!
Change your plans
Talk to people
Find a business partner
Brainstorm with friends
Knock on doors
Attend seminars
Attend local events
Talk to other entrepreneurs
Go to local real estate investors meetings
Talk to family members
Talk to your local universities
Research government business loans
Attend trade shows
Talk to your teachers
Talk to angel investors
Talk to venture capital firms
Get a business coach
Find a mentor
Research crowdfunding campaigns
Pre-sell your product
Use kickstarter
Try indiegogo
Search for peer-to-peer loans
Visit local incubators
Change your business model
Being an entrepreneur is the art and science of accomplishing more with less. Less money, less help, less time, less control, etc.
Honestly, you will never have "enough" money. Never!
Remember this:
Entrepreneurs can't always control what they have — but they can control what they do with what they have.
Q: what should entrepreneurs never do ?
I learned this lesson the hard way …
I was with my best friend having a beer, laughing and enjoying our conversation. Somehow the beers were having a good effect and things were starting to look bright…
“I have an idea: let’s start a business!”
And just like that, our friendship started down a different path. We were excited, we trusted each other, we had a very clear dream of where we wanted to go, so we started to work towards our project.
Very soon, small misunderstandings started happening, yet we ignored them because we were “best friends.”
We got locked into the business after we made our financial investment meanwhile investing more and more time and energy into the project.
Difficult conversations needed to have happened. They never did. We had no formal agreement, and soon it was too late to even talk about them …
Problems and misunderstandings started to build up quickly, and eventually the beers ended. Then the fun ended. This negative energy went into the business which led to a business failure.
The friendship ended.
To answer your question: What should an entrepreneur never do?
Don’t jump into a business venture just because of friendship! It’s incredibly easy to get involved for the wrong reasons.
John D. Rockefeller has a great quote:
“A friendship founded on business is better than a business founded on friendship.”
Handling business and friendship is extremely complex — it demands mature individuals to make it work.
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