I Would Not Scroll Past This If I Were You…
Listen to me, don’t start a business until you read this, you see people on social media and the lifestyle they show off.
And the looks of a successful entrepreneur, you see the car they drive, the vacations they take, and the massive house (Or houses) they own.
And you say to yourself “I want that too, so I’m going to start a business just like them. “ Well, do you know if you’re truly ready to become, an entrepreneur?
Here five warning signs that you may not be ready to be in business just yet.
1. You have no money
You read that right, don’t start a business if you have no money, if you need money coming in like you need blood in your veins, then don’t start a business.
Why? Because it takes time for a business, to mature and generate profit, if you think you’re going to start a business and make money in the next 2 weeks, or month, that’s an employee mentality.
Since as an employee, you get a paycheck every two weeks, or by the end of the month, but as an entrepreneur that doesn’t happen.
It might take you 6 months, it might take you a year, heck it might even take you 2 years! Most business owners don’t make a profit until, many years.
In the meantime what are you going to do? You still have 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 that takes time, effort, and money to grow, I always say, take care of your cash flow needs first, before you worry about building an empire.
2. You don’t understand the industry
I always ask this question before I start any business, and you should start asking yourself this too…
Why you?
And
Why now?
If your answer is “I just want to make some money then you’re 100% going to fail, what qualifies you to be in this space right now?
And I’m not talking about seeing someone on social media, then start saying “Oh that sounds like a good idea, this person is making so much money doing this, I can jump into that too” Do not have that mindset.
In order to make money in any industry, you have to understand the industry, if you don’t know the industry then you must learn, here’s an example, let’s say you want to open up a restaurant.
Wouldn’t it be a good idea, for you to work at a restaurant? So, you can see the day-to-day operation before you open one up?
3. You don’t have the stamina
What I mean by this is that you need to have the mental toughness to endure pain, many years ago I had this conversation with my mentor, and he asked me “What do you think is the number one quality of an entrepreneur.”
And, I said many things I said “Talents, team, luck, a good idea, and a load more” But he said, “No, the number one quality of a successful entrepreneur is the ability to endure pain, for a long period of time.”
Is that you?
What are you willing, to give up? What price are you willing to pay to accomplish success and to build your business?
I could tell you any successful entrepreneur that I know, almost all of them experience pain for a long time.
Before they accomplish even a tiny bit of success, everybody wants to talk about the glamorous side of entrepreneurship, but no one wants to talk about the dark side.
Are you okay to endure pain for a long period of time, and go through those nights where you can’t sleep because you don’t know how you’re going to pay off that debt?
Are you really okay with having that responsibility on your shoulders?
4. You want more free time
If you start a business and think to yourself, that you can quit your job and get rid of the 9 to 5 and have all the time in the world because you’re an entrepreneur, then you’re dreaming.
You might have freedom after working many years, but the first 5 years you aren’t getting a single thing, first of all, you’re getting paid last.
Because, you have to pay everybody else before you pay yourself, so if you think you’re going to get rich quick doing this, think again, when you’re running your own business there’s no 9 to 5.
Comment below if you’re a business owner and you agree with me, let’s wake some people up, and let them know the real struggle.
There’s no 9 to 5, in fact, there’s no 9 to 9, this is on your mind 24/7, even when you take time off, and let’s be honest you’re not really taking time off (You know what I’m talking about).
You’re still thinking about your business, getting more customers, your team, cash flow problems, and many more.
Also, you’re not going to get more time, because in the beginning, if you don’t have those business skills, the learning curve is steep, and that alone can take a few years just to get a sense, and a feeling of what to do.
But then, you have to deal with growth, which is still a long way to go, so forget the 9 to 5 and the 5 days a week because it’s going to be 7 days, 24/7.
But that’s just the life of an entrepreneur, and if you don’t love it, and if that’s not in your blood, then you’re not going to do what it takes, and you’re not going to make those sacrifices, because it’s too tough.
5. You do not know how to attract a huge, and consistent stream of customers
Period! I don’t care what it is that you do, if you want to get customers, you must be able to gain attention.
If you want better terms for financing, you must be able to show others that you are a safe and solid company that won’t fail them, by proving the stream of customers you can produce.
If you want partners to help you to promote your business, you must be able to attract those types of people.
If you cannot fill your company with the customers you want to serve, any time, on any platform, and in any situation, and you haven’t revealed the secret to attracting your dream customers.
Then you’re not qualified to be in business, I don’t care what it is that you do, I don’t care what, industry you’re in, and I don’t care what products or services that you sell, you need to be able to fill your business with customers.
In conclusion
Those are the top five top warning signs, however, if you’re willing to pay the price, then.
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