how to start a business with no money
well at least not if you're never the
first one to ask me that question
somehow I guess when people with who are
struggling financially that they want to
start a business and thinking that's a
way out and sometimes it is sometimes it
isn't
[Music]
I believe the worst time you want to
start a business and there is when you
have no money because you're desperate
when you're desperate when you start a
business it's not a good idea because
chances are there's a reason why you
have no money in the first place it
tells me a number of things it tells me
maybe you don't have a lot of skills
maybe you don't have a lot of experience
maybe you don't have enough a lot of
knowledge maybe mentally the mindset
wise you're not ready maybe you've taken
association with money it tells me a lot
about who you are so don't start a
business just because you want to make
money nothing wrong with making money I
like making money but if you're actually
struggling that much financially I tell
people and this this is so
counterintuitive to most gurus or
experts or whoever it's promoting
entrepreneurship and I'm an advocate for
entrepreneurship get a [ __ ] job get a
job pay the bills get some money coming
in I don't care if it's part-time
full-time whatever get some money coming
in first right and in the evening when
you're off work we're after five o'clock
that's when your business starts you
know stop what people nowadays call
there the young people call this side
the side hustle right that's fine do
something do some stuff because none
with computer there's so many things
that you can do right with technology
there's okay but don't start a business
with absolutely no money thinking that
you'll make it oh great that's dad I'll
make you can't even find a [ __ ] job
what makes you think you'll be
successful as a business person I mean
it's kind of think about it's kind of
stupid but if you are decent and what
you do and you're adding value to
marketplace now you're honing your
skills fine then you can if you follow
my work it was where it was make sure
watch my video on wealth triangle click
on the link below or you can also click
on the playlist a search on on YouTube
the wealth triangle I'll explain why
first in the development first high
income skill before I saw the business I
went into the the idea and the
philosophy that out that I have so
once you have some money coming in
you're paying the bills now you can
consider okay what is it that you want
to do what business you want to start
but here's the thing I don't think
everybody should start a business and I
don't think everybody should be an
entrepreneur I don't think it's for
everybody I think it's because now the
media they they promote so much or even
on YouTube on social media or
entrepreneurship be your own boss and
and start your own business and live
that life
well if you actually talk to people have
started businesses first of all most of
them fail
statistics show ok 90% it could be 95%
of small businesses fail in the first 5
years whatever the number is it doesn't
matter it's just the numbers [ __ ]
high so knowing that when you do
something it's like you take this risk
knowing that chances are 9 out of 10
you're gonna lose period 9 out of 10
even if you do make it chances are you
may be just like getting by and
struggling and not like not really
prosper but he's a problem the one that
made it
sometimes you see on the cover of the
magazine all this guy may X amount of
dollars this guy made it big yeah but
you don't see that the 10,000 have died
because those guys don't make it on the
cuff of the magazine you don't see hey
he's an entrepreneur that lost his life
savings and mortgage his house and and
lost like two hundred thousand dollars
let's put him on the cover
you never hear those stories but if you
actually talk to entrepreneurs yeah
there are a lot of those stories I mean
I started many many businesses and I
failed at many businesses and I had so
many failures I made so many mistakes so
it's not for everybody
it truly is not for everybody and you
don't necessary have to be an
entrepreneur to make a lot of money
that's something I've learned over the
years you can have a Heinz come skills
that makes you a very good money
these are amount of money and if you can
invest that properly you can also have a
very comfortable life an entrepreneur
Eirik wise leadership requires so many
skill sets it's just like not everybody
can be a a Olympic swimmer not everybody
could be a marathon runner not everybody
could be a world-class like basketball
player it just not for everybody but
somehow when it comes to business
everybody is so optimistic overly
optimistic oh yeah I could do it I could
I could I can start a business I would
make I wanna make money in three months
I would break even the first month no
actually think and then within a year
I'll hit a million dollars that's how
they all think it's incredible because
nobody start a business with the idea oh
I'm gonna fail I'm not gonna make it oh
it's not gonna break even in three
months no but what if it doesn't make
money in three months and what if it
doesn't make money in six months and
what if it doesn't make money in here
what if it doesn't make money in five
years then what do you do what do you do
now you put yourself you put your family
you put the people love you
chances are because you're finding more
money from them to spawn for most of
them then what you do you put them in
such a a bad financial position so don't
do that I would say don't don't do that
you're gonna start a business coming
from a place of where you are stable
coming from a place where you do have
money coming in maybe some savings aside
coming from a place where you are you
have some kind of skill sets coming from
a place where you do you have support
coming from a place where you do have a
mentor the guy you coming from a place
where if you're going into an industry
that you have an
and come in from a place where you're
not overly optimistic but you look at
what you do and say hey what could go
wrong what don't I know what assumptions
am I making how do I know this will work
and what if it doesn't work what if it
takes very much longer to work what if
it takes it 10 times whatever to work
don't worry about winning worry about
all the possible ways that you can lose
and you can fail and you prevent prevent
yourself and you prepare yourself all of
that you can do that then you'll win
repair all the [ __ ] that could go wrong
prepare all the fists all the [ __ ] that
doesn't go as expected you have a
solutions have a plan for all those
chances are you think it through and
this would work now it's not a sexy
answer you're looking for an answer I
know oh yeah go for it started being an
entrepreneur and you'll be successful
that's all fuck-ups I say you think
you're starting a business thing twice
make sure it is something that you
really really want and make sure you
start getting ready getting the money
ready start mentally ready order that
before you go into it because it's tough
whatever you're thinking if you have not
started business you think it takes you
this much effort it's gonna be distant
this much difficulty it's gonna be it
this much and it's gonna be this much
not for a short period of time a long
period of time I'll leave you with a
quick story and they'll wrap this up
years ago I was having lunch with my
mentor
and the mundo meant ask me the question
he said yeah what do you think is a
number one quality of an entrepreneur
the number one quality of an
entrepreneur I said well also knife at
the time is I don't know maybe is it
vision you gotta have a vision is that
no is it you got to be able to leave you
got to have you know people team of
people teamwork no it's oh you need
persistence you need be able to persist
and not give up I said no is it oh you
need money you need capital of course so
the business you need money
no and I went on and on and on it said
he said you know what all those are
important but then they're not the most
important qualities among of a
successful entrepreneur it says
something I'll never forget
he said the quality of a successful
entrepreneur is the ability the ability
to end do a pain a long period of time
the ability to endure pain for a long
period of time not a time I was so young
and I didn't understand but now as I'm
more mature where I'm today looking back
that's actually very very affluent the
ability to endure pain for long period
of time when when everything else is
against you when the marketplace is
against you when your family's Argives
against you when the whole world's
thinking you cannot make it when in
those dark days where you can't even
like your your dates away from getting
getting like you know your business shut
down where your lights turn off those
dark dark moments where you're alone and
nobody understands and nobody could help
you even your spouse don't understand
you can you in do it you can do that
again and again and again and again
that's the number one quality of
entrepreneur
so that's my answer how do you start
business with no money I went off at
engine a bit but there's a lot of things
I share with you I think I'm very very
important if this is the first time
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