Monthly Archives: November 2015

Random Thought #26 – Entrepreneurs / Control Your Business When Possible

It’s very difficult when entrepreneurs start their first venture. They have to beg, borrow and steal money from friends, relatives, loan sharks and anybody who will give them some. Relationships are sometimes destroyed and you never quite get to run the business the way you wanted to.

Over time, if you’re good and luck is on your side, one day you’ll get to control your own destiny.

I thought that I had it made when I put together a venture with a very large, successful company. The boss said he liked me because I wasn’t a yes man. Everyone else around him always agreed with him and he didn’t like it.

About a year into the venture, which was exceeding out goals, he wanted a meeting with me. He said remember when I told you I didn’t like being surrounded by yes men, I found out I lied. I only want you to do it my way. Then he blew me away.

He said in this life a have 5 pains in my butt; my wife, who I can’t afford to divorce, my mistress, who I have to keep supporting or she’ll tell my wife, my brother, who every time I fire him my mother sends him back, my mother, and you. You I can get rid of, which he did.

It’s tough, but if you want to reach your dream as an entrepreneur, you have to have control.

 

Random Thought #25 -The Fear of Starting a new business

I have been fortunate enough to have been involved in many businesses in my life. I’ve had a few that did great and I had a few that did terrible; but for me, they were, and are, all fun.

True entrepreneurs usually try lots of different ideas in their business life. A lot of time, going into a new business is a very scary thing. A lesson I’ve learned is that once you’ve been in a few different businesses, it doesn’t have to be scary.

When most people start a new business they feel like they’re starting from scratch and have lots to learn, but that’s not true; most businesses are about 90% the same . They all have employees, accountants, lawyers, insurance…, the only thing that’s different is the service or commodity that you’re selling. That means you already know 90% of what you have to do, you only have to learn the new 10%. Hopefully this will help take a lot of fear out of trying your new project.

I don’t waste my time projecting what can go wrong, I just delve into it and have a good time. The results can only be known in hindsight.