Category: Debate

What Entrepreneurs Can Learn From WhatsApps $19 Billion Acquisition

In this article, I discuss what entrepreneurs can learn from WhatsApps $19 billion acquisition. There are a lot of valuable lessons that can be learned from this massive acquisition made by Facebook.

 

The BIG news from yesterday has been the insane fact that Facebook purchased WhatsApp for $19 billion. Yeah, you heard that right. That’s 19 Instagrams and Instagram was a whole lot of money on its own.

 

 

There are a lot of factors that specifically made WhatsApp so successful. Not only that, but entrepreneurs can learn so much from the founders and the success of their startup.

 

 

In this article, I share what entrepreneurs can learn from WhatsApps $19 billion acquisition:

 

 

Rejection Is The Best Motivation

 

One of the co-founders Jan Koum applied for jobs at Facebook & Twitter. Believe it or not, both of these companies rejected him. Instead of paying him a 6 figure salary, they are buying him out for 11 figures.

 

 

As an entrepreneur, you have to take rejection as a positive. Use that to fuel you towards your goals and successes. Jan could have easily gave up when these companies rejected him, but he decided to keep pushing forward.

 

 

He was determined to show the world that he did have value. As you can see, he created one of the largest messaging platforms in the world that Facebook just paid massive amounts of money for.

 

 

Embrace The Struggle

 

Jan came to this country as a teenager as an immigrant with his family. His family wasn’t wealthy by any standards and he quickly learned the meaning of hard work. Entrepreneurs must learn to embrace the struggle.

 

 

Because Jan felt the lows of life, he had tremendous amount of determination to create a better future for himself. Life isn’t about playing strong hands, it’s about playing weak hands extremely well.

 

 

You Don’t Need Money To Market Your Startup

 

People constantly are under this belief that they need a large amount of money to get tons of visibility towards their startup. I have built my startups without spending any money on marketing and WhatsApp did just the same thing.

 

 

They have over 400 million active users, but they have not spent a single dollar to acquire these users. Instead, their money is used on hiring really good employees that can support their infrastructure.

 

 

If you’re able to think outside the box and come up with creative ideas of your own, you do NOT need money to market your business. Just remember, there’s always a better way to get something done.

 

 

Quality Trumps Quantity

 

You cannot build a startup focusing on acquiring as many users as you possibly can. That’s completely the wrong approach. You must create a product of quality that your users will love and engage with on a regular basis.

 

 

More than 70% of the 400 million active users would log on to WhatsApp every single day. That’s amazing engagement and a huge stream of recurring users that are using their application every single day.

 

 

Instagram did the same thing and got a massive payout for doing so. It’s not about revenue or making a ton of money. It’s about building a brilliant product that has a positive impact in the lives of your users.

 

 

Conclusion

 

In this article, I shared what entrepreneurs can learn from WhatsApps $19 billion acquisition by Facebook. What have you learned from this company?

 

 

 

6 Qualities That Separate The Successful From The Lucky

In this article, I share 6 qualities that separate the successful from the lucky. From seeing numerous solely rely on luck to guide them to success, I decided to write this article to share my perspective on this topic.

 

There is always a lot of chatter about how successful people are just flat out lucky. While luck can play a small role in someones success, I do not think someone can be successful by just being lucky.

 

 

Not only that, but you shouldn’t be waiting for luck to determine your fate. You should be determining your own fate by putting in the time and hours necessary to achieve the success you desire.

 

 

In this article, I share 6 qualities that separate the successful from the lucky:

 

 

1. They Work Very Hard

 

The harder you work, the luckier you get. Instead of waiting on some good luck to take you where you want to be, put your head down and work hard. Successful people understand they must work extremely hard if they want to accomplish their goals.

 

 

Lucky people do not work hard. They try getting by with the bare minimum hoping luck will come and save the day. To be successful, you do not even consider luck as a factor in your journey. You put in as much effort as you can every single day and let hard work guide you towards success.

 

 

2. They Are Self Educated

 

Successful people understand that learning never stops. Just because you finished school or graduated with a fancy degree does not mean you know everything. To be successful, you have to constantly educate yourself about various things.

 

 

Lucky people will wait for success to be handed to them. Thus, they ignore important things such as educating themselves once they do graduate from college. To be successful, you need to constantly learn and adapt to the world around you.

 

 

3. They Put Themselves In Front Of Opportunity 

 

People seeking luck are extremely patient. They wish on stars and wait for something great to happen instead of trying to make it happen. Successful people on the other hand are constantly doing something to put themselves in a better position.

 

 

Successful people are very good networkers. They constantly meet new people and connect with others. By doing this, they are constantly presenting themselves in front of different opportunities. It only takes one person to change your life.

 

 

4. They Are Persistent

 

The easiest thing to do is to quit when things don’t go your way. Most people do this and hope for the best moving forward. However, the most reputable people in the world today hold that honor because they refused to quit when things got tough.

 

 

Failure does not define you or your business. It’s just an event, something that happens at a certain time and place. As long as you get back up and try again, you are not failing. Successful people are persistent and see their visions out until the very end.

 

 

5. They Take Massive Action

 

To be successful, you must be doing something. Thus, those who take massive action and act on their ideas end up being far more successful than those who do not.

 

 

Lucky people on the other hand take a very long time to decide on whether or not they should take action. They often decide to wait for something good to happen so that they may not ever have to take action. That’s a very wrong mindset to have. To be successful, you must take massive action.

 

 

6. They Are Hungry

 

Successful people start off with a sort of hunger that is rare to find. Whether it’s the fact that they’ve been poor or dissatisfied with the way something works, they have a driving force behind them.

 

 

Lucky people typically don’t have that desire or hunger to succeed. They think it would be great if it happened to them, but they’re mainly driven by the desire to amass more wealth. Successful people on the other hand have a deeper purpose than money that carries their dreams forward.

 

 

Conclusion

 

There is nothing wrong with being lucky. There is a lot wrong with relying solely on luck to find success. In this article, I shared 6 qualities that separate the successful from the lucky.

 

 

photo credit: Tiago Daniel via photopin cc

 

5 Things They Should Change In Universities

I have been to college for a few years while also building my own business outside of the classroom. I learned a lot from my experiences. Specifically, I learned that there are numerous changes that should be made inside these universities.

 

Many people don’t know this about me, but I attended college for the first few years upon graduating from high school. However, I have taken the last few semesters off to focus on my business projects mainly. I say I’ve dropped out, but my parents still think I’m taking semesters off.

 

 

Regardless, I couldn’t stand my time inside the classrooms at my university. I was simultaneously running a successful business and saw so many disconnects with what I was learning from my professors.

 

 

I am not completely against colleges, but I think they can do a lot of things better to make the experience more valuable for people. In this article, I share 5 things they should change in universities:

 

 

1. Stop Testing Memorization Skills

 

I have always been horrible at tests. I think they are stupid and do not really measure what you know about a subject. Anyone can memorize a packet of information if they have enough patience and time on their hands to do so.

 

 

However, memorization doesn’t mean you can successfully apply what you learned. Application or implementation is the only true way to test something. It’s probably going to cost a lot of money to test in this manner, but at least students will find get value from this.

 

 

Instead of taking a quiz on how to re-assemble a computer, they should get students to actually re-assemble the computer in front of you for a grade. This truly shows how much you know about the subject while ensuring that you’ll be able to utilize this skill in the future.

 

 

2. Stop Hiring Professors Who Haven’t Really Done It 

 

I remember walking into my business class for the first time hearing my professor talk about his experiences and background. He was teaching a class on entrepreneurship, but his resume consisted of zero entrepreneurial experience.

 

 

I knew from day one that I would hate this class because I’d be learning about stuff my professor read about in a book instead of hearing about his experiences. If I’m paying you $15,000 a year in tuition, you can do the very minimum of hiring professors who validate the shit they’re talking about in class.

 

 

3. Stop Lecturing, They Really Suck 

 

95% of my professors load up a powerpoint and put it on the projector asking us to take notes. Again, why I am paying you $15,000 a year to learn from a powerpoint filled with jargon? If I wanted that, I’d go on Slideshare and watch powerpoints from experienced individuals.

 

 

Universities can make the education process more appealing by asking their professors to put more effort in. It’s funny because I’d skip class almost every time we had a lecture because I dreaded it. On the other hand, the most valuable experience I had in the classroom was from a professor who never did powerpoint lectures.

 

 

He told us to throw the textbook away and said we would learn about human communication by actually communicating. We did exercises and had discussions with our peers to learn the material. As you can imagine, I never missed this class!

 

 

4. Stop Creating Cogs In The Machine

 

One of the biggest reasons why I hated college was because I felt like I was being bred into a robot. The lectures and the curriculum really trains you to be an amazing employee who can follow directions and perform tasks as directed.

 

 

How about creating leaders or visionaries who can really change the world? Apparently, higher education doesn’t care too much for those individuals. Instead, they are too focused on getting you that degree and an average paying job as soon as you graduate.

 

 

Colleges care too much about their job turnover rates and ensuring that they have a high graduation rate. Wouldn’t you rather be known for nurturing 100 of the greatest minds in the world instead of helping 15,000 students get a well-paying job they hate at some big company?

 

 

5. Stop Making People Believe College Is A Must

 

What I hate about universities is that they constantly feed the world with this idea that you must go to college to be successful. That’s not true and I can name millions of people who have disproved that theory.

 

 

Universities should be graceful. Tell people that college can help make many people successful, but it’s not often the right answer for everyone. Stop being so money-hungry and start being honest.

 

 

Conclusion

 

In this article, I shared 5 things they should change in universities. What are your thoughts on this topic? Share them in the comments below!

 

 

photo credit: kevin dooley via photopin cc

 

Networking Etiquette: Why People Have Networking All Wrong…..

From visiting tons of events, I’ve learned a lot about networking. Unfortunately, too many people ignore proper networking etiquette and they have networking completely wrong. In this article, I share my thoughts on this highly popular topic.

 

Networking has become more and more popular over the last few years. From attending hundreds of meet-ups, mixers, conferences, and networking events, I’ve learned a thing or two about it.

 

 

Unfortunately, networking isn’t having such a positive impact as it should be. I had the amazing time to spend the last few days with entrepreneurs who understood networking. We attended Startup Grind in Northern California and had an amazing time.

 

 

As soon as we got there, we began networking and I found tons of people who didn’t know a thing about networking. In this article, I talk about why people have networking all wrong…

 

 

Quality Over Quantity

 

People feel like it’s a gold rush and that they have to talk to as many people as they possibly can. For me, networking is all about building quality relationships with high quality individuals.

 

 

I’d rather have 5 amazing relationships built in one night rather than 500 business cards from people I know nothing about. I saw one guy going up to everyone passing out business cards talking about how they do mobile development.

 

 

They spent 30 seconds with each person and they literally treated the experience like a gold rush. As you can imagine, they would be the last person I would call for mobile development. Why? Because, they don’t give a shit about me.

 

 

All they do is care about the money and that became very evident from their interaction with me. By the end of the night, their business card was in the trash. On the other hand, I met great people who actually wanted to build a relationship and I’m going out of my way to help these individuals for FREE.

 

 

Follow Up Yourself

 

Don’t feel that you’re entitled to getting a follow up from anyone. I slacked off a bit with my networking follow-ups throughout the week and I was disappointed with myself for it.

 

 

However, I met the founder of Rotten Tomatoes – Patrick Lee. He was a great individual and he took my business card. Within a few hours of meeting him, I had an email in my inbox from him following up and looking forward to chatting with me further.

 

 

Wow, here’s a guy who built one of the most successful film platforms in the world and he was emailing me to follow up. That’s simply amazing because he doesn’t feel more superior than others. He treats everyone the same and understands that following up is a vital part of being successful as a networker.

 

 

Stop Taking, Start Giving

 

I hate people who come to networking events looking to take whatever they can. Many people seem very keen on learning enough about you so that they can see what they can take from you.

 

 

Business relationships especially do not work like this. A successful networker doesn’t ask, they instead spend that time giving. What can you do to help make someone else’s life better?

 

 

Don’t Be The “ME” Monster

 

The best thing a networker can often do is just listen to what other people have to say. I have developed some of the best relationships and connections by shutting my mouth and listening to others.

 

 

We all love to talk about ourselves and share our accomplishments, which there is nothing wrong with. When networking though, remember that others want to share the stage and the spotlight with you.

 

 

I ask people questions and take a genuine interest in what they do and enjoy. I can probably talk hours on end about myself, but I’m not there to bore people. I’m genuinely interested in building relationships with others.

 

 

Be You

 

I don’t care if you’ve sold a business for hundreds of millions of dollars or if you’re building a startup from your garage. I care that I can meet people who are authentic and are showing who they really are.

 

 

I come across too many people who are bullshitters or completely fake at networking events. It’s a huge turn-off. I become disinterested in the conversation and have no interest in knowing them further.

 

 

Be real and be you. It’s not hard at all, but often times people put on a fake personality that they think will impress others. If people don’t love you for you, don’t bother spending time with them.

 

 

Conclusion

 

In this article, I shared a few tips on why people have networking all wrong. Do you have any comments or thoughts on this article? Share them below!

 

 

Kick-Ass Productivity: How To Control Your Time

In this article, I share a variety of kick-ass productivity tips. I show you how to master your time so that you can be far more efficient.

 

I heard someone say something yesterday that really pissed me off. They said, “I would do a lot more in life but I can’t control time. There isn’t enough time in a day, that’s the problem.”

 

 

My heart took a tumble 10 feet under hearing that. How can someone say or think that? Beyonce has 24 hours. Kobe Bryant has 24 hours. Warren Buffett has 24 hours. You simply CANNOT use the excuse of not having enough time in a day.

 

 

I was irritated with that response and gave my friend some hell for it. Turns out, it’s not really his fault. He just doesn’t know that he can manage and control his time. Growing up, I sucked at managing my time.

 

 

90% of my time went to playing video games and having ‘fun’ while the other 10% went into things like homework or doing the chores. Throughout the years, I have realized that if we can master our use of time, we can accomplish anything.

 

 

In this article, I’m going to talk about kick ass productivity: how to control your time –

 

 

Focus

 

It’s easy to get distracted when you don’t have a clear direction or where you need to go. Before you start anything, create a clear outline of things that need to get done. Put them in order of importance and do not lose sight of this.

 

 

When other things come up, you clearly know what you need to focus on. Efficient people are able to turn off distractions, focus on a task and get it done no matter how difficult it is. That’s the first step to efficiency.

 

 

Say NO

 

Some people have a really hard time saying NO. I run a consulting business on the side where I work with business owners to help them with their marketing or growth needs. This is something done on the side so I have a clear understanding of how many clients and how much time I can invest on a monthly basis.

 

 

In the beginning, I wanted to help everyone. Don’t get me wrong, I still do but it’s not feasible. Instead of taking on every client, I reject more than 75% of the potential clients I get. If you want to be efficient and master your time, you need to feel more relaxed about saying “NO”.

 

 

Unplug

 

Social media, television, other people, and electronics can be a massive distraction. I still to this day have trouble unplugging myself from social media or completely staying focused on one task.

 

 

I find myself often finishing 1 page of work and somehow wandering off to Facebook. If you need to get something done, unplug yourself from the rest of the world. Only accept incoming calls, messages or notifications if it’s an emergency. Otherwise, your only focus should be what needs to get done.

 

 

Create A Schedule

 

I find that extremely efficient people are either very organized or they have someone on their staff that manages their lives for them. If you have a clear schedule each day of what needs to get done and when, there is no excuse for not getting things done.

 

 

The most successful people clearly plan out the things they want to accomplish each day. They write it down and they get down to work. What used to take me 2-3 days to get done now gets done in 1 day all because I schedule things out.

 

 

Quality > Quantity

 

Remember, the most productive people don’t necessarily get the most things done. In fact, they get the most important things done that bring value to them or to their businesses. Instead of making it a competition to get 100 things done, try getting 10 things done really well.

 

 

A big mistake many entrepreneurs often make is that they have a hard time trusting others to do work for their business. At some point, you have to let go. Understand the importance of the work within your business. Put the high priority things on your desk and the lower priority things on the desks of others. A little trust goes a long way.

 

 

Conclusion

 

In this article, I shared kick-ass productivity tips on how to control your time. Do you have some tips of your own that work very well? Share them below!

 

 

photo credit: Youssef Abdelaal via photopin cc

 

Why Getting Fired Is The Best Thing That Can Happen To Unmotivated People

In this article, I share my perspective on why getting fired is the best thing that can happen to unmotivated people often.

 

We constantly hear about the 9 to 5 struggle many are in. People need income to survive, but completely hate their jobs. The solution to this problem isn’t a quick fix.

 

 

In fact, it’s such a difficult choice that many people give up hope on their dreams to just ‘survive’. When that transition takes place, those individuals become unmotivated and often satisfied with the bare minimum.

 

 

What would happen if these individuals were suddenly fired? It’s an interesting thought. In this article, I’m going to share why getting fired is the best thing that can happen to unmotivated people.

 

 

Creates Hunger

 

I have found that having that hunger or desire is extremely crucial to making a change in your life. It’s easy to avoid change when you can get by, but change becomes inevitable when survival is at question.

 

 

By firing these unmotivated individuals, you put them against the fence. They will eventually enter a mode of desperation, which may push these individuals to take a risk or to make a change they had never thought of before.

 

 

Reflect & Embrace

 

It really takes a drastic thing to happen in your life to cause you to make a change. Many people who work 9 to 5’s often bring up stability as a reason why their career is far better than entrepreneurship.

 

 

These individuals have dreams of becoming entrepreneurs, but take to a 9 to 5 lifestyle just because it’s “safe”. When you get fired, you quickly realize that you have very little to no control of your job. Some higher up authority calls the shots and you can be laid off anytime he or she wishes.

 

 

Losing is great because you end up learning a lot from the whole experience. Hopefully, you are able to take the things you learn and create a better version of yourself.

 

 

Master A Craft

 

Many years ago, my Father was laid off his job. He used to work a 9 to 5 that he hated, but he had to survive just like so many others. After getting fired, he vowed to never take another job again.

 

 

Instead, he mastered a craft. He learned about an industry, built a business of his own and to this date successfully runs that business. If my Father wasn’t fired, he still may have tried learning the craft but he wouldn’t have mastered it as quickly as he did.

 

 

The lesson that I learned from his story was that you get time to seek and work on new opportunities when you do get fired. When you’re constantly working, you totally forget about what the world has to offer. Getting fired gives you a chance to catch up on all that you have missed.

 

 

Get Your Swagger Back

 

Getting fired is great as Jay Z would say because you can finally get your swagger back. You can forget all about the lack of motivation or purposeless tasks you were doing before.

 

 

You now have the opportunity to seek out your true motivation in life. You can finally find a deeper purpose. Remember, legacy is always greater than currency. So many of us die, but very few of us really live.

 

 

I have a passion for helping others really live. Getting fired gives you the opportunity to reflect back to the days when you were young. As children, we thought so ambitiously of what we wanted to do as life work. You now have a chance to bring purpose and long-lost motivation back into your life.

 

 

Conclusion

 

I have nothing against the idea of a job if you’re happy with what you do. My goal is to inspire people to love what they do. However, I hate to see people suffering with a 9 to 5 job that they absolutely cannot stand.

 

 

In this article, I shared why getting fired is the best thing can happen to unmotivated people.

 

 

photo credit: Be-Younger.com via photopin cc

 

Why Location Isn’t As Important As Entrepreneurs Think

In this article, I tackle the subject of why location isn’t as important as entrepreneurs think. Check out what I have to say about this highly debated topic.

 

I often get asked the question, “Is my location important to my success as an entrepreneur?” I can’t blame the entrepreneurs that ask me this question because it’s something that has been highlighted quite a bit in the media.

 

 

Every entrepreneur knows about Silicon Valley. We hear the amazing stories of entrepreneurs with big dreams who get funded massive amounts of money in that area. I for one started my business and stayed in Orange County, California.

 

 

Silicon Valley is in Northern California while Orange County is in Southern California. The difference from my location to Silicon Valley is approximately 400 miles. Even though both locations are in California, Orange County isn’t quite as entrepreneur concentrated as Silicon Valley is.

 

 

The question I get asked often is, “Why don’t you move to Silicon Valley?” Well, I personally love Orange County and I don’t feel the necessity to move 400 miles. House prices in Silicon Valley are also incredibly expensive whereas other locations can give you much more house for your money. For example, the median house price for Silicon Valley is $935,00 as of 2018. Glendale real estate, located in Los Angeles County, shows a median home price of around $100,000 less than that. You can find many other cities with much lower prices than in Silicon Valley.

 

 

In this article, I discuss why location isn’t as important as entrepreneurs think.

 

 

Talent Shines From Anywhere

 

Are the chances of you landing an investment or developing that huge connection higher in Silicon Valley compared to other places? I’d be lying to you if I said it wasn’t. However, that does not mean that you will be successful.

 

 

If you start a business, you can shine from anywhere. If a company like DropBox or Groupon was located out in the midwest somewhere, they would still get the investors and the success they have today.

 

 

In the world of investing, if your business is truly exceptional, people will find you trying to invest in your company. However, if you’re business isn’t so hot, you are forced to go door to door looking for capital.

 

 

The Internet

 

We have this little thing nowadays called the internet, which provides us with various tools that substitute the activities we must do in person. Have you heard of Skype, Google Hangouts, Facebook, Twitter, etc?

 

 

The amazing thing about the world we live in today is that you can literally be involved in entrepreneurial communities or mastermind groups from anywhere in the world. I for one am in a mastermind group with members from all over the country.

 

 

You don’t have to be sitting in Palo Alto to network with people. The internet provides us with a prominent set of resources that we can use to find others to connect with. I sit in Orange County connecting with various influencers from all over the world on a regular basis.

 

 

Smaller Areas Can Draw Larger Publicity

 

Imagine seeing these two headlines on a newspaper. “New Tech Company Grosses $1 Million in Revenue in Silicon Valley” versus “New Tech Company Grosses $1 Million in Revenue In Toledo”.

 

 

Nothing against Toledo, but we all know that stories like this are happening far more often in Silicon Valley than they are in Toledo. By staying in the city where you reside at, you give the town an underdog to root for. This in turn helps you generate a lot more publicity and PR coverage for your startup.

 

 

A month ago, we were featured on the front page of the OC Register. It was an article about my startup company StatFuse and how we were helping students hack the college admissions space through technology. I never say never, but this opportunity would have been a lot harder to come across if I was working out of Northern California.

 

 

Product/Service Value Matters

 

At the end of the day, it doesn’t matter where you’re operating from. A customer will buy your product or service if you are providing them with the value they are looking for. If you have market fit, good leadership and a solid product, then you will be successful from anywhere.

 

 

You can make progress with your business from anywhere in the world. Ultimately, businesses are successful not because of their address but because of the team and value they create in a market.

 

 

Conclusion

 

In this article, I shared my opinion as to why location isn’t as important as entrepreneurs think. Do you agree or disagree? Share your comments below.

 

 

photo credit: Stuck in Customs via photopin cc

 

The Dark Untold Side of Entrepreneurship

Most people see the glorified images of entrepreneurs in the media, but never hear about the dark side. In this article, I highlight the dark untold side of entrepreneurship.

 

Entrepreneurship is glorified by the media on a daily basis. We see millionaires with hot babes, fast cars and beachfront homes. Upon seeing these things, people become envious of the life entrepreneurs have.

 

 

Everyone automatically thinks that entrepreneurship is an easy ticket to money and fame, but they’re quite wrong. There is a dark side to entrepreneurship that many don’t realize until way later.

 

 

In this article, I’m going to share the dark untold side of entrepreneurship:

 

 

The Broke Period

 

Here’s what really sucks about entrepreneurship. You either make no money in the beginning or the money you do make has to be put back into the business. Instead of actually making more money than a job, you end up making less while putting in more effort.

 

 

Passion should be guiding you, but paychecks do pay the bills. Many people don’t realize that they won’t have the comfort of receiving a paycheck at the end of each month and may go months or years without ever getting paid.

 

 

You are the sole provider for your business and for yourself as an entrepreneur. It looks pretty on paper, but be prepared to really hustle if you want to survive the long haul. Comfort, monthly paychecks and short days are a thing of the past if you choose to become an entrepreneur.

 

 

The Stress

 

Entrepreneurs deal with a LOT of stress. It’s not necessarily bad stress, but you need to have a strong mind to survive as an entrepreneur. Most people think being successful just requires you to go in a straight line, but it’s really a giant crooked line of twists and turns before you ever find success.

 

 

You need to be able to deal with rejection, failure, competition, and a bunch of other stuff if you really want to be successful. Entrepreneurs are mentally tough people who get through rough times regardless of what the situation is.

 

 

The Lifestyle Change

 

We constantly hear about the idea that we must change our lives completely to become an entrepreneur. Most people love this idea, but don’t really know what it means. Entrepreneurship is truly a lifestyle, not a career or position.

 

 

Changing your lifestyle literally means living and breathing around your business. Life may have revolved around you or your family, but now it must revolve around your business. The more effort you put in, the better the results are.

 

 

If you aren’t willing to make an adjustment or give up a life of partying, entrepreneurship is not for you. People realize too far in their journey that they aren’t willing to give up the life they have to make their business successful.

 

 

The Risk

 

Everything looks glorious about entrepreneurship on paper. You quit your job or drop out of school, build a multimillion dollar business and get on the cover of Forbes. This is the same dream I had like many others.

 

 

Most people don’t think of the risks that are involved with this dangerous endeavor. Yes, you can be successful and get on the cover of Forbes but only a few select people make it to the end of their journey. Why?

 

 

The answer is simple. Entrepreneurship isn’t necessarily for everyone. Some people excel at it because of their characteristics and mindset while others fail for those same reasons. When you dive into entrepreneurship, nothing is guaranteed. There is a VERY high risk involved and you must be prepared for it.

 

 

The Struggle

 

The one thing almost every entrepreneur will tell you is that things never work out as you plan them. You really wish that they would, but that’s just not how life is. When things go differently than you planned, a sense of frustration develops.

 

 

This is something I myself have dealt with a lot. It’s truly a struggle when months of efforts result in nothing but failure. You have to sit down, reflect on the experience and think about what you learned from the experience.

 

 

It’s a struggle because you immediately fail once you give up. You have to constantly get back up and give it your all again. Many people struggle with failure, which can deter them from achieving success as an entrepreneur.

 

 

Conclusion

 

I’m a die hard entrepreneur no matter what happens. I’m tired of the media spotlighting entrepreneurship to be as this glorious lifestyle without showcasing the negatives of it too. I hope this post helps you realize that entrepreneurship isn’t just all about fast cars and big houses.

 

 

photo credit: vonderauvisuals via photopin cc

 

5 Harsh Truths About Raising Money

More and more entrepreneurs seek investor funding today than any other time in history. Why? Shows like Shark Tank have popularized the idea of seeking money to grow your business. In this article, I share 5 harsh truths about raising money.

 

In the last few years, I’ve had the amazing opportunity to sit on both sides of the investor table. I’ve made pitches trying to raise money and I’ve sat on the other end listening into the pitches of entrepreneurs who are trying to raise funding.

 

 

From these experiences and chatting with tons of angel investors who are close friends of mine, I have learned a lot about raising money. I’ve learned an array of different things about the art of raising money, which can help other entrepreneurs in that position.

 

 

In this article, I’m going to discuss 5 harsh truths about raising money:

 

 

1. Credibility Trumps All

 

I have seen entrepreneurs who hold a lot of credibility come into a room with a shitty idea who manage to walk away with a deal. It blows my mind to this date, but investors really care about credibility.

 

 

Think about it. You’re basically trusting someone with your money and hoping that they don’t lose it. Would you trust the guy with no experience who talks the talk? Probably not. You’re probably more keen on trusting the guy with credibility who has proven he can not only talk the talk, but walk the walk.

 

 

2. Everyone Has The Next Million Dollar Idea

 

One sentence turns off more investors than any other. The sentence is, “I’ve got the next million dollar idea or opportunity and I’m sure it’s a winner.” Take a ticket and wait because your person #480484093 to say that.

 

 

Investors don’t want to hear about the next million dollar opportunity, they want to see it. You need to have validation (proof of concept) that shows them you know what you’re talking about. I constantly get emails from people pitching me their next big idea, but it’s just a thought until you prove it.

 

 

3. The Investor’s Money Is Better Than You

 

Almost every single investor I have ever met always truly believes their money is better than you. It’s tough walking into a room where you know a group of people have an advantage over you.

 

 

See, if you end up making waves – investors will come to your door. That’s when you become better than their money. However, anytime an entrepreneur goes door to door looking for an investment, the investors automatically value their money above you.

 

 

4. No Amount of Cash is Worth Losing Control

 

It’s really frustrating pitching to tons of investors and leaving without a deal. When desperation and frustration kicks in, entrepreneurs make poor decisions. Some of these decisions include losing control of their business or giving up too much equity.

 

 

I have learned that raising money isn’t the most important thing of all in a business. I’ve bootstrapped all my businesses and found that to be a far better choice. Money looks really appealing, but comes with a lot of headaches most people would probably want to avoid.

 

 

5. Going to Silicon Valley Doesn’t Guarantee an Investment

 

I spent this weekend in Northern California when one of my friends said, “I’m going to go to Silicon Valley in the next few weeks because I’m sure to get funded down there.” I laughed.

 

 

It was a really funny statement because he’s not the only person that thinks like that. Some people think that if you go where the sharks are everywhere, you’re bound to get funded. I won’t deny that you probably have a higher chance, but nothing is guaranteed in the world of startups.

 

 

Conclusion

 

In this article, I shared 5 harsh truths about raising money I have learned over the past few years. Have any tips of your own? Feel free to share them in the comments below.

 

 

Note: For those of you looking to create a business or are working on one, you should check out my course. It’s all about building a successful business and navigates you through the various aspects of doing so.

Why Your Goals Need To Become An Agenda If You Want To Achieve Them

After chatting with many people about how goal-setting just wasn’t working, I decided to take it upon myself to figure out a better way to achieve your goals. I came up with a simple answer, which I discuss in this article.

 

Over the last few years, I’ve come across more and more people who set goals but rarely ever end up fulfilling them. In the last few weeks, I finally decided to ask them why they set a goal if they don’t plan to fulfill it.

 

 

The answers were all over the place, but one common theme kept repeating itself. People said they would love to achieve their goals, but not doing so wasn’t the end of the world. Could it be that the word ‘goal’ had now become a hope or wish for many people?

 

 

That’s what the case seemed to be. The scary part was that many of these individuals were completely comfortable not achieving their goals. For me, goals are something that can make or break me. I push myself to go above and beyond to achieve everything I put on my white board.

 

 

This got me thinking that the word goal might just be the problem. We do things no matter what if it’s on our schedule, but we almost always put things off that aren’t necessary. This habit carries over from our professional lives to our personal lives.

 

 

Instead of calling your objectives goals, a better word is an agenda. These are the things you plan to get done throughout the next quarter, months or year. They used to say a goal is a wish with a deadline, but it seems as if too many people are just hoping for the best anyway.

 

 

Here are some reasons why your goals need to become an agenda if you want to achieve them and here’s how you can do it:

 

 

Put Them In Your Schedule

 

People who set goals often have trouble consistently carrying them out over a longer period of time. By creating an agenda of things that need to get done, there’s a higher chance it’ll actually end up in your schedule.

 

 

Goals aren’t attainable on their own, it requires work or effort from your part to achieve them. The first step is planning out a list of things you will do to get to the finish line.

 

 

Create Desperation 

 

By creating an agenda for your goals, you put yourself in a mode of desperation. If I told you that you had no money in your wallet, how hard would you work today? Probably a lot harder than if you had $500 in your wallet.

 

 

Why? Because you are desperate. You know that without money you cannot pay for gas, eat or do some of the bare necessities in everyday life. If your goals don’t have a sense of desperation behind them, you’ll be in trouble!

 

 

Hold Yourself Accountable

 

Another thing I quickly learned from talking to different people was that they didn’t have any pressure to complete their goals. Many people even admitted setting goals just because it seemed like the right thing to do.

 

 

If you cannot hold yourself accountable to your agenda, find someone who can. Share your agenda with family and friends that truly care about you and your success. In school, you do your homework because your teacher is constantly holding you accountable. If your teacher didn’t check your homework, how many kids would really do it? 

 

 

Break It Up Into Pieces

 

You don’t have to achieve your agenda all at once. You can create a bi-weekly agenda of things you plan to accomplish that will eventually help you complete your whole agenda. Write out the things you wish to get done and plan for it.

 

 

By breaking it up into smaller chunks, you’re going to be far more successful. Not only that, but you won’t feel as overwhelmed as you initially did. I’ve found a lot of success achieving my goals just by breaking them up into more manageable pieces.

 

 

Conclusion

 

Goals are an extremely important part of being successful in life. From seeing numerous people fail, I learned that creating an agenda works far better than setting goals do. Have you tried a similar technique? Share your thoughts in the comments below.

 

 

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