Starting one’s own business can often be an amazing, life-changing decision that opens up doors into places you never thought you would go. There are hundreds of articles on the internet telling you how you should start your own business, and why you should, and they are generally full of good points. However; there are not enough telling you the truth. Starting your own business is hard. We should be open to the fact that starting a business might not be a good idea for everyone.
1) Starting a business takes an insane amount of work. I’ll keep this short and sweet. Work-life balance is a joke for founders of successful companies; this term does not apply to the startup phase of a business, particularly as the founder of that business.
2) When you fail, it is public and personal. It can be embarrassing to be fired from a job, but failing at starting a business is a much deeper wound, in my experience. A job is a part of you. Your business is a complete manifestation of you. The best way for me to describe the feeling of failing at entrepreneurship is by using an example from my childhood. I used to be a pitcher in baseball. You get on the mound. You throw the ball. The batter takes a big swing and connects big time. He hits it in a nice, high, long loft that lasts 5 to 15 seconds, where everyone can see it leave the stadium. It hurts the whole team, but the crowd is only looking at you. Just in case anyone might not be able to see you, in baseball the mound is elevated above the level of the field so everyone can get a good view of the pitcher. That’s the best way I can describe the feeling of failing at entrepreneurship, except it lasts a lot longer than 5 to 15 seconds.
3) Unfortunately, you may fail. One out of every two U.S. businesses fail in their first five years on the market. The chances of success can be good if you do it the right way, but most people quite simply don’t do it that way. And if you fail, your financial losses can be significant.
4) You can’t make friends at work. As the founder of a company, everyone works for you, so you can’t develop real friendships since you are the employer and “the boss.” There is an unequal relationship. Even when you do develop a friendship, you never quite know if it’s real. Entrepreneurship is a lonely occupation, and this inability to generate friendships at work is one of the most glaring representations of that fact.
If you’ve read this list and still feel like starting a business is for you, then you’ll probably make it. If you are willing to put in the hard work that it takes, go big, because you could be the next Bill Gates.
Trump Comments on Stock Market’s latest drop – says it’s ‘peanuts’
Trump says Tuesday’s market drop is ‘peanuts’
President Donald Trump played down the stock market’s losses on Tuesday as “peanuts” when compared with the importance of striking a good deal with China and the gains since his election.
The Dow Jones Industrial Average “was about 16,000 or 15,000 and now it’s almost at 30,000,” Trump said at the NATO summit in London. “It’s going to be at 30,000.”
“If the stock market goes up or down — I don’t watch the stock market. I watch jobs. Jobs are what I watch,” he added. Today’s move is “peanuts compared to — we have picked up record numbers so that’s OK. That’s the way I feel.”
The major stock indexes slid Tuesday after Trump said he thinks it would be a good idea to delay signing a trade deal with China after the 2020 presidential election. The Dow Jones Industrial Average fell more than 450 points at its lows on Tuesday, led lower by trade-vulnerable Apple, Caterpillar and 3M.
“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now, and we will see whether or not the deal is going to be right,” Trump told reporters before U.S. markets opened Tuesday. When asked if he had a deal deadline, he added: “I have no deadline, no. … In some ways, I think it is better to wait until after the election if you want to know the truth.”
Despite his assurances that he doesn’t watch the market’s daily moves, Trump often tweets within hours of when the U.S. equity market reaches an all-time high. He has tweeted the keyword “stock market” 107 times since his inauguration
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11 kids quotes we’re all feeling
Ok so there’s always that time when you just wish so bad you could straight up say whats on your mind, but you know you really shouldn’t, so you don’t. Well leave it up to kids to say exactly what you’re feeling, no hesitation or regret. Check out these kids quotes that say everything you wish you could!
Why do kids say the darndest things? Comment with your favorite!
How to become a better businessman in 6 steps; Priceless advice from Entrepreneurs
Become a better businessman in 6 steps following this priceless advice from accomplished entrepreneurs.
- “Do something you’re very passionate about, and don’t try to chase what is the hot passion of the day.”
Jeff Bezos accentuates having passion for what you are doing, because if you don’t love it you are much more likely to give up. It’s hard to take an idea and turn it into reality, especially by yourself or when people whom you respect tell you it can’t be done. The passion and love you give to your project will determine it’s success rate over time.
- “Don’t let people who you may respect and who you believe know what they are talking about tell you that it can’t be done.”
Pierre Omidyar continues to say that often they will tell you it can’t be done and that’s only because they don’t have the courage to try it.
- “If you know exactly who you want to be, you need to spend as much time [as possible] with people that are actually that already.”
This advice from Gary Vaynerchuk is actually priceless when it comes to success in the business world. Think as well “It’s not what you know but who you know,” and surround yourself with people you look up to. Human’s adapt to their surroundings quickly, and soon you won’t just want to be an entrepreneur, you will also know how to act like one.
- “Come up with 10 new ideas every day.”
Coming up with at least 10 new ideas every day will keep your “idea muscle” in shape, which is critical for an entrepreneur in order to keep going and stay ahead of the fast paced business world. James Altucher continues to say that once you’ve done this for about 6 months you will be an idea machine. New ideas keep passionate projects alive and ensure growth in every direction.
Read Next: Working for yourself; Pros and Cons
- Realize that, “naturally, nobody is interested in your ideas. You have to persuade them, and you have to show them that you are the one person out there that can do it.”
Robert Greene, an American author known for his books on strategy, also says that “no one is really going to help you or give you direction.” Realizing this sooner than others will give you a head start and the ability to stop looking for recognition in others. Instead, you can focus on your passion project and make it perfect, and the world will not be able to ignore it.
More about ‘Mastery’ by Robert Greene
- “Don’t think about ‘how do I get big fast.’ That will happen if you build something meaningful and important.”
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Danae Ringelmann’s advice is not something to skip. If you rush your ideas or your product you will be relying on luck more than anything to create success for you. While luck is certainly involved in alot of things, relying on it or betting on it to ‘get big fast’ doesn’t help you become a better businessman. Being proud of what you create, instilling passion into your work, and working hard will ensure success more than anything.
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