3 hurdles NEW entrepreneurs often face- and how to overcome them
- Feeling Uncomfortable: Comfort should be the thing that truly scares you. Comfort breeds complacency, and complacency stunts growth.
- Facing the fear of failure: Embrace this fear and channel your focus toward making sure it doesn’t become a reality.
- Understanding Finances: Just because there is money in the bank does not mean there is profitability, and if there is not enough cash in the bank, that doesn't mean the company is not profitable. Entrepreneurs tend to confuse cash in the bank with profitability, and often it is a timing issue.
What they DON’T tell you about entrepreneurship
Let’s talk about those fearsome nightmares that entrepreneurs endure and the psychological price that you’ll pay for owning a business.
“The reality of being an entrepreneur is much harder than most people are willing to open up about. In a culture where successful entrepreneurs are idealized like rock stars it's easy to feel like we're not good enough when comparing ourselves to the picture that’s painted by social media.”
Why are people so scared to share the truth behind the curtain of their business? Why do people pretend to have it all figured out when the bank account is a mess and clearly using overdraft protection like a line of credit?
Often as entrepreneurs we feel isolated and alone. We think we’re the ONLY ones who suffer with cash flow & money management issues. We compare our insides to your outsides and often feel like we don’t measure up, when in fact- social media makes everything look BETTER than it really is.
After writing about building a business in real time, gathering data and engaging on social media, I recognize a common denominator in entrepreneurship - STRUGGLE.
If you’re struggling, like so many of us are, I hope you find value in the resources provided and connect with a community of likeminded entrepreneurial spirits who are passionate about seeking freedom. What's the payoff you ask? As entrepreneurs, we’re seeking more time to do what we love to do with the resources to make it happen.
-Molly Bravo, the Entrepreneurial Spirit behind Wylder Space Inc. (a unique and boutique catering co. in the Santa Cruz Mountains)
In Todays Email, you’ll get deeper awareness about:
- The Truth about the every-day entrepreneur
- 4 stages of Entrepreneurship - which stage are you in?
- “HOW” to grow! - growth mindset for entrepreneurs
TRUTH BOMBS
The struggle is real
“Founder and CEO of a startup? Owner of a company? Sounds Enchanting!” - they say.
“You must be earning millions, telling others what to do and never having to work! What a life!” - you often hear.
…Supposedly this is how people see you when they realize you are an entrepreneur. This lifestyle looks glamorous, doesn’t it? Rarely do they understand the other side of the coin.
The pressure and struggle associated with starting a business is immense. Rarely, do people talk about the struggle of the come up.
Entrepreneurship is HARD. It’s messy. It’s often times a lonely road of silent struggle. It requires sacrifice and taking the hardest road possible.
“You’ve got to have a lot of passion for what you do.The reason is because it IS so hard - you need the passion to pull you through”- Steve Jobs - Apple
Check out these resources for a deep dive into the lonely road of entrepreneurship
Kevin O’leary (Mr. Wonderful) Not everyone should be an entrepreneur
Patrick Bet David 12 of the dumbest mistakes I ever made my first year in business
Florence Scovel Shinn Game of Life and How to Play It
Alex Hormozi Entrepreneurship
Warren Buffet Best Business Advice for NEW entrepreneurs, and OG’s too ⤵️
Patrick Bet David 12 of the dumbest mistakes I ever made my first year in business
Florence Scovel Shinn Game of Life and How to Play It
Alex Hormozi Entrepreneurship
Warren Buffet Best Business Advice for NEW entrepreneurs, and OG’s too ⤵️
4 LEVELS OF ENTREPRENEURSHIP
For everyone who wants to grow 10x
From Chapter 6 of the book, 10x is easier than 2x
-by Dan Sullivan & Benjamin Hardy
Level 1 is being a rugged individual who does everything themselves or micromanages the few people they have working with them.
Level 2 entrepreneurship is evolving from doing things yourself & stepping into leadership. It’s about finding qualified people to help you, rather than doing everything yourself.
By Level 3, you’ve removed yourself from the day to day and replaced yourself with better fit leaders to manage and run your company. You’re now freed up from the day to day operations to fully focus on exploring new possibilities for growth and expansion of vision + collaborating.
In Level 4, Everything happening around you, including in your business operates as a self multiplying unique team. All individuals are encouraged to individually and autonomously refine their own roles, striving to improve and practice self motivation. Every person within your organization works towards the mission of the company, keeping their eye on growth and expansion of the vision.
By Level 3, you’ve removed yourself from the day to day and replaced yourself with better fit leaders to manage and run your company. You’re now freed up from the day to day operations to fully focus on exploring new possibilities for growth and expansion of vision + collaborating.
In Level 4, Everything happening around you, including in your business operates as a self multiplying unique team. All individuals are encouraged to individually and autonomously refine their own roles, striving to improve and practice self motivation. Every person within your organization works towards the mission of the company, keeping their eye on growth and expansion of the vision.
RULES OF THE GAME
You’ve got to pay to play in the Entrepreneurial Game.
You’ve got to be wiling to risk it all to win big. You’re taking a gamble on your dream. Are you going to go all in? If you are, you may fail. That’s ok. This vision you have may not work. If it fails, try something else or do it a different way. Remember, you can fail 1000 times- you only need to get it right once. Keep going.
You’ve got to be wiling to risk it all to win big. You’re taking a gamble on your dream. Are you going to go all in? If you are, you may fail. That’s ok. This vision you have may not work. If it fails, try something else or do it a different way. Remember, you can fail 1000 times- you only need to get it right once. Keep going.
The Entrepreneurial Game: Instead of admiring another entrepreneurs lifestyle and assuming his bank balance, just know everyone starts from the bottom. Everyone grinds. Everyone struggles & you don’t get anywhere in the game without hard work and risk-taking.
ENTREPRENEURIAL MINDSET = LIFELONG INNER GROWTH
But first, what IS growth mindset?
Entrepreneurial mindset is a set of beliefs, thought processes, and ways of viewing the world that drives entrepreneurial behavior. Typically, entrepreneurs believe it’s possible to improve their lives and live life on their own terms. They also believe in the fundamentals of growth: learning, growing & adapting in order to succeed.
Here’s the thing: Anyone can develop the mindset of a successful entrepreneur. As the founder of Ford Motor Company, Henry Ford, once said, “Whether you think you can or think you can’t—you’re right.”
How to think like an entrepreneur:
- Entrepreneurs don’t follow the crowd. Period. We carve our own path. Always.
- Entrepreneurs don’t blame others for a shitty life situation—we take responsibility for improving it.
- Successful entrepreneurs know how to improve a situation, make more money, and create new opportunities.
- Successful entrepreneurs don’t have wishes and dreams—We have goals and plans.
- The entrepreneur mindset is growth-oriented.
- Entrepreneurs don’t fear failure—we appreciate it.Each “failure” is simply a stepping stone to learn from, helping move us closer to success.
As the famous inventor Thomas Edison said, “I have not failed. I’ve just found 10,000 ways that won’t work.” - Entrepreneurs believe they can grow as people, learn new things, and develop new skills. They believe that—with some consistent effort—they can shape themselves into whomever they want to be.The bestselling author and entrepreneur Hal Elrod said, “Your level of success will rarely exceed your level of personal development, because success is something you attract by the person you become.”In other words, personal growth tends to create success.
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