Don't start a business until you read this. You see people on social media on Instagram on Facebook.
You see the lifestyle of a successful entrepreneur, you see the car that they drive to driving the Ferrari?
It's all day driving a Bentley or you see the vacation spots. You see the home, you see their house, and you see the life that they have and use it yourself.
I want that too. So what I'm going to do, I'm going to start a business just like them. Well, are you ready?
Do you know, if you're ready to be an entrepreneur here? Five warning signs that you may not be ready to be in business for yourself, just yet.
1. Don't start business if you have no money, that's correct. You heard me, right? Don't start a business. If you have no money, if you need money coming in, like you need blood in your veins. Don't start a business.
Why? Because it takes time for business, temperature to generate profit.
If you think you're going to start a business and you're going to make money in the next two weeks, four weeks, a month. That's employment, mentality.
Is that them as an employee. You get check two weeks, you get check by the end of the month as an entrepreneur. That doesn't happen.
If I take you six months, it might take you a year. It might take you two years most business owners.
Don't make a profit until many many, many years in the meantime, what are you going to do? Still got to eat right?
You still have to pay the bills if you have absolutely no money right now. What do you do? You get a job.
Don't start a business because a business takes time and it takes effort and it does take money to grow.
I always say, take care of your cash flow needs. First before, you're worried about building, an empire. Take care of your income first.
2. Don't start a business. If you don't understand, the industry.
I always ask this question before you start any business and that is, and I'm asking you right now.
Why you and why? Now, if your answer is all, I just want to make some money. You're going to fucking fail.
Why are you and why not? What qualifies you to be in this space right now? Not what just saw on Facebook.
Oh, that sounds like a good idea. This person. This guy's making so much money doing this. I can't jump into that too.
Know. Why you and why? I now in order to make money in any industry, you have to understand the industry.
If you don't know the industry, first you have to learn the industry.
Let's say, you want to go open up a restaurant and I'm not saying that's a good idea. But let's say you want to open up a restaurant.
Well, isn't it a good idea to just go work at a restaurant? See? What's the day-to-day operation? Like, what's it like to work in a restaurant before, I open up a restaurant? So you have to know your industry one inside.
3. Don't start a business. If you don't have stamina, I needed, mental toughness to do a business many years ago.
I had this conversation with my mentor and he asked me the question. What do you think is the number one quality of an entrepreneur?
And I said many, many things. I said talents and I said team and I said good idea. I said many, many, many things.
And no he said the number one quality of a successful entrepreneur. Is the ability to endure pain, for a long period of time, then talk about the Ferrari.
If you talk about a big house paying for a long period of time, is that you what are you willing to give up?
What price are you willing to pay to confer success to build your business? I could tell you any successful entrepreneurs, that I know, almost all of them experience paying for long period of time before they occur.
Push even just a little bit of success. Everybody wants to talk about the Glamorous side of Entrepreneurship.
No one wants to talk about the dark side. Are you okay to be able to endure pain for a long period of time where those nights?
You cannot sleep the night's where you don't know how I'm going to pay off that debt. Are you okay with that having that responsibility, heavy heavy responsibility on your shoulders warning?
4. Don't start a business. If you You want more free time? That's right. If you start a business, you think? Oh now I could quit my job, then nine to five, five days a week.
Now. I'm going to be an entrepreneur. I'm going to be a business owner that now I'm going to have freedom, you are dreaming.
You might have freedom after working so many years, maybe a decade, then you will have some Freedom. The first five ten years. You ain't getting shit.
Okay. You first of all you're getting paid. You pay everybody else before you pay yourself.
So you think you're gonna get rich quick doing this. No, when you're running your own business, there's no 9-5.
If you are a business owner, if you don't open or if you agree with me, comment below, let's wake people up.
Let them know there's no 9-5. It is on your mind, 24/7, when you take time off, you're not with you off.
You know what I'm talking about. You're thinking about your business, you think about it, get more customers, you're thinking about your team. You think about your employees, your thinking about the cash flow problems you have and you're not going to get more time because in the beginning, if you don't have those specific skills, the learning curve is deep.
It takes a few years just to get a sense, get a feeling and try to find out what works in your business to crack the code, right, being profitable.
And from there to grow the still a long long way. Forget the 9-5, forget the five days a week. It's seven days, 24/7.
That's the life of an entrepreneur and if you don't love it, and if that's not into blood, And you want it so bad. You're not going to do what it takes. You're not going to make those sacrifices because it's too damn one in sign.
5. Don't start a business. If you don't know how to close period.
I don't care what it is that you do you want to get customers? You got too close. You want better terms for financing? You got too close. You want better vendors? You got too close. You want Partners to help you to promote your business. You got to close if you don't have the ability to close anyone. Anytime, if you after closing mentality and you don't have that closing skill. You're not qualified to be the business period.
I don't care what it is that you do. I don't care what industry you're in. I don't care what products or services that you sell, you need to be able to close.
So those are the five top warning signs. So, after all that, if you say you know what, I still want it. I'm willing to pay the price. Then go business.