Professor Explains the Fake Entrepreneur Epidemic
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- Опубликовано: 28 авг 2024
- Dr. Hartmann is an Associate Professor Of Management at the Copenhagen Business School. His paper, Towards an Untrepreneurial Economy? The Entrepreneurship Industry and the Rise of the Veblenian Entrepreneur is available on SSRN: papers.ssrn.co...
Other papers mentioned or referenced:
Azoulay, P., Jones, B. F., Kim, J. D., Miranda, J. 2020. Age and high-growth entrepreneurship. American economic review: Insights.
Camuffo, A., Cordova, A., Gambardella, A., Spina, C. 2020. A scientific approach to entrepreneurial decision making: Evidence from a randomized control trial. Management Science.
Decker, R. A., Haltiwanger, J. Jarmin, R. S., Miranda, J. 2016. Where has all the skewness gone? The decline in high-growth (young) firms in the U.S. European Economic Review.
Hamilton, B. H. 2000. Does entrepreneurship pay? An empirical analysis of the returns to self-employment. Journal of Political Economy.
Hunt, R. A., Kiefer, K. 2017. The entrepreneurship Industry: influences of the goods and services marketed to entrepreneurs. Journal of small business management.
Reid, S. W., Patel, P. C., Wolfe, M. T. 2018. The struggle is real: Self-employment and short-term psychological stress.
Sorenson, O., Dahl, M. S., Canalas, R., Burton, M. D. 2021. Do start-up employees earn more in the long run? Organization Science.
Ucbasaran, D., Shepherd, D. A., Lockett, A., Lyon, S. J. 2012. Life after Business Failure: The Process and Consequences of Business Failure for Entrepreneurs. Journal of Management.
Entrepreneurial strategy textbook by Joshua Gans, Erin Scott and Scott Stern is available online here:
www.entreprene...
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This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I think someone who promises $100K/month for an upfront fee of $2K is a scam. Others would call it a Napolean Hill pitch.
Coffeezilla should interview entrepreneurs who has failed and is now back working a 9 to 5. Might offer different insights than people who made it.
People who made it are the same people who failed. They just decided to get up and try again until they succeed.
So you want him to interview lossers 😂
@@andreygrant8676 lol winners don’t think like that
@AnonRESPECT. Thank you for sharing a real example of how to succeed. There’s a reason why people get rich (other than inheritance or lottery), and that’s because they offer a great product or service and improve it on a daily basis. Always 1% better
@Anon preach brother!!! That’s the most valid point made in 2021 so far! All my clown businesses gave me the skills that i needed to do what i currently am doing so i can relate to that on another level
"Hi I'm an entrepreneur"
"Wow really? What do you sell?"
"Entrepreneurship"
"Why do you sell Entrepreneurship?"
"Because it's a million times easier to sell someone else a dream, rather than create a valuable product or service yourself."
@@ericantone8709 To be fair, recycling industry does the same thing. Some "charity" corps, like Goodwill, are guilty as well. They're selling an experience. You get to feel like you're accomplishing something by wasting your time and money accomplishing nothing.
@@ericantone8709 Exactly! It's some kind of logical fallacy to talk about "entrepreneurship" as if it were an 'industry!'
Why not? You can sell money. :)
😂😂😂
I was a wantreprenuer for over 40 years and it has pretty much destroyed my life. Your videos that were shared by significant partner have had an impact on me today. Keep it up
How are you doing, now?
Do you want to elaborate just a bit? It's cost you time, energy and money? Or your family even?
I dont understand how thats possible. Either you're actively working on a business or you're not.
@@lisageorge4599 40yrs he stated.
Tough thing to go thru, I hope that you are fine now and have found more meaningful things to do.
IMO the wantrepreneur epidemic is bc the title Entrepreneur is a shortcut to feeling accomplished. Most people (especially when they are young) want to feel important, useful, and respected. Having the title of Entrepreneur, means you have the same title of some very accomplished people.
Also its been sold that anyone can do it, when anyone cant do it.
Very insightful comment.
This is a fair take. Definitely insightful noted by the other commenter!
Ayyyy Paul:)
So true. Most of us here would cringe at the thought of strutting around with a self-adopted title of importance. Ugh. But then... some people's brains are just wired differently.
The age of deception.
@@johnnykeys1978 it's a strange time for sure.
I am a recovering wantrepreneur. Every drop of this interview is worth its weight in gold
What are you recovering from?
Hahaha, guys, I am recovering from my addiction of buying the furu courses
Ach ! Du Bruder Benjamin . At least this made you feel goed for a while.
@@TheBenjaminUlrichShow What are you working with now?
@@thenewspanishacademy While I was binging on fake guru courses I also learned privately about sales and worked myself up the ranks in different sales jobs. Finally I took a risk and left a telesales job to go and work in a new fast-growing market. I started applying much of what I have learnt in university, different jobs I had, from my private studies as well as my newly gained sales experience. Now - two years later - I am in a good position inside my company, generate a stable income and have developed a positive self-worth. All wonderful things. I am looking for partners now to expand in the B2B consumer goods market (e.g. I am looking for suppliers and distributors in Europe).
Those entrepreneur "gurus" are just teaching people to cosplay as entrepreneurs.
Exactly. They’re selling pipe dreams to young ppl and lazy morons. An idiot born everyday. The idea of the thing is often better than the actual thing. Enjoy the journey. Relish the anticipation. That’s where it’s at. Like surfing or riding a wheelie. It’s about balance.
Oh sad, that is a really good way to look at it lol
Unfortunately
It would be cheaper to buy tuxedo, elegant shoes and rolex watch for DIY cosplay than paying contrepreneurs.
True 😅😂🤣
The only entrepreneurs I even known were friends with rich parents. They were not doing the "school thing". They were floating around but with the entrepreneur title. They knew they safe from the start. That's my real life experience.
Like a certain Oranged Tanned baboon were all aware of. 🤣
All that money and yet every venture he made failed.
You have described my little brother perfectly. He's a spoiled brat who has ridiculous schemes and dreams that have largely been funded by his trust fund and generosity from our very kind mother (vast sums of money have been thrown down the toilet). We all know he's going nowhere but he lives in a self-deluded fantasy world.
@@modfus then sit him down with a real business consultant and financial advisor that can help him see the hard facts and tell him what age 80 is going to look like if he doesn’t get it together. Don’t just stand aside and mock him when he’s not around.
I've known those people too. It's a lot easier when you know you can fail with little consequences, financially, at least.
Because if they did things the hard way, it would be called a business and they would be called an owner, not an entrepreneur. Its yet another label to make people feel special.
This is why I majored in Accounting and plan on doing taxes. Social media projection makes us as a society forget the value that stability holds. A meaningful existence isn’t necessarily an opulent one.
Pretty sure the actor dream or rock star dream started that in our culture long before social media came around.
@@robrick9361 Well, yes, but social media have amplified it a thousand times over. And getting stuck at home amplified that again.
@@cat-le1hf Engineering is not generally interesting day to day. It's occasionally interesting, with a lot of meetings and spreadsheets in between.
@@TheWaggishAmerican biggest fax
This 1000x over. I think people forget how necessary every little part of society/the workforce is: plumbers, electricians, bankers, home builders, farmers, retail/food store workers, emergency services, IT, teachers, etc. The list goes on and on to describe the amount of pieces required to keep society running as comfortably as we're used to. Absolutely nothing wrong with being a simple and less flashy but integral part of society, those people are the foundations of comfortable living.
This makes a lot of sense. Entrepreneurship seems easy. Then people end up selling stuff nobody wants or needs. They also don't enjoy sales. Then they quit.
I had a wantrepreneur mindset before i started my business where I kept subconsciously looking for permission or approval from my peers and mentors in my fruitless quest for the blueprint to success. What ultimately made the difference is realizing that i don’t need permission and went out and did it. It didn’t work out but I hedged my bets and now have a stable job and am ready for my next venture whenever opportunity presents itself.
@@jeremyjackson7429 It was a creperie. I called it called the cool crepe.
Nice man. At least you are not a try hard anymore. Take a rest, get ready to try again when you are ready.
Opportunity won't fall down from the sky like a cartoon piano.
@@GhostSamaritan situations do change though and i'm looking to move soon. I was in the restaurant business so starting up again wouldn't be wise until i'm settled down.
@@theodoresmith3353 the restaurant business is certainly one of the most challenging to succeed at. If you haven’t already check out the book The E-myth by Michael Gerber. It’s a must read for any potential business owner
I realized I didn’t want to become an entrepreneur as much as I just wanted a flexible schedule and to work from home.
Good point, clarity of goal is important
Working in high-tech company can offer that opportunity.
Well, thanks to Covid, there are a lot more opportunities for that now more than ever!
The corona dividend ...
So you don't like to hang out with friends and go on great adventures or do hobbies?
I worked in background investigations for specialized loans for awhile. Every single person who used the word "entrepreneur" to describe themselves inevitably had 1 to 3 bankruptcies.
Well yeah. It is normally high risk high reward even when done correctly. Usually you get a few bankruptcies before you take off
What's your point? Most success stories in business history have times where they failed and went bankrupt. It's normal to fail and pick yourself back up....its called resilience.
@@michaelopolski5759 Lol no. Most successful business people have never declared bankruptcy. I will assume you don’t understand the severity of declaring bankruptcy but it is generally a sign of gross mishandling of a business and isn’t how most failed businesses end. I would suggest researching bankruptcies in the US and what brings them about.
@@michaelopolski5759
Another dupe who didn't watch the video. There is no evidence to suggest that successful entrepreneurs fail a lot before succeeding.
@@michaelopolski5759 most lottery winners have a long history of buying non-winning tickets. So if you're playing the lottery and lose a lot, don't worry, thats how all the lottery winners stories start. Its expected that you, a destined lottery winner, will buy many non-winning tickets.
As a professor in psychology, I greatly appreciate you bringing this guest on here...academia is not everything, but man can be helpful when relating to the unregulated field of "entrepreneurship".
I also want to mention that following the positive movements of the 70's we have been on a trajectory that focuses primarily on the positive which leads to inaccurate and inadequate estimations of success in oneself and when observing others.
Social media has allowed this to spread like wildfire and since our brains don't know the difference between real and imagined unless we become aware then the images we see online will impact us psychologically and emotionally.
We’ll see how academia will pivot when enrollment declines even more. People don’t want your fake degrees anymore.
Do you think that some of this feeds in to Leach’s argument about the development of a kind of narcissistic ‘culture’ in society?
Lol you obviously copy n pasted
What are you talking about?
@@bexrayspex I fully believe this, yes. Good observation here.
What’s hilarious is the ads served up on this video 😂
All “Want-trepreneur” ads 😂
Great interview. Nice to see someone talking about this epidemic.
Even though this is a year old, it just showed up in my feed. Incredibly accurate. I started a business in my spare time 13 years ago that managed to survive and thrive- and it is a LOT of learning, long hours, and hard knocks. I managed to be successful but anyone who thinks it’s an easy path should either watch this or be prepared to learn these lessons along the way.
Bootstrap, lean startup, MVP… yep this guy gets it!
100! It's bloody hard work.
Had to instantly click. Entrepreneurship is heralded so much on social media and it makes you feel like a failure if you're not trying to start your own business. What might actually be the problem is doing a job you're not aligned with? I would start with that rather than resorting to entrepreneurship
Right, and some of these enterpreneurs people look down on people doing and enjoy normal work. All the be your own boss, dont be a slave mentality. It is like being an entrepreneur was looked down in our previous generations but now it is like we are overcompensating and now are looking down on daily job people where the ideal situation should be both should be respected equally.
@@princejoseph8280 omg exactly! Thank you so much. Some people are just not suited to entrepreneurship and that is TOTALLY okay. We have to find what suits us in life
@@TumiEdun Not just some people..... Majority of people are not cut out for entrepreneurship. And that's perfectly normal.
Every girl with onlyfans is automatically an entrepreneur 🤣🤣🤣
I agree. Even if you're successful it feels like you're looked down on for not having your own business..
I was a wantrepreneur back in 2018. I had been reading the marketing and sales books from Cardone, Kiyosaki, and Ferris and thought that if I wasn't rich by age 30 then I was a failure. I was 25 at the time. My wife and I lived exclusively on our savings for the next 10 months and I had severe anxiety and depression the whole time while trying to make it in sales as a commercial mortgage loan officer. I didn't make even a single sale in those months.
Fast forward to today and I'm not 29yo and have a VERY fulfilling career that pays me very well. I learned that I love my regular, predictable job and wouldn't trade it for any other career.
Don’t forget. Winners never quit and quitters never win. Entrepreneurship is the best way to live a fulfilling life these days. No wonder why non violent people like you never become a millionaire.
@@jt_rooster3228 please explain further
@@jt_rooster3228 scammer ☝️
@@jt_rooster3228 Not everyone wants to be a millionaire lol
@@jt_rooster3228 If you think being a millionaire is the only way to be happy? Then I pity you, kiddo.
"It's building up confidence more than it's building up competence". This.
I got the keys. I don't teach it because I does it lol
My husband worked incredibly hard to make a success of his brick-and-mortar business. I had asked him to keep his regular job instead, but he decided to open his store. The business failed, and it hurt him personally, and hurt us financially.
Good thing I never gave up my regular job, and we weathered the storm financially. Now he is successfully self-employed, teaching classes in his favorite hobby.
What's the hobby?
@@sp123 Tai chi. This is going very well.
I respect his efforts with his store: it was a real business, providing real product to end-use customers.
This is key. There’s a ton of mindset coaches out there selling anyone the idea that they are special and just need to feel more confident. But they’re not really asking whether people possess the necessary skills or training. They are there to encourage people of all skill levels to try and make it on their own. I see this a lot in the social media coaching industry.
I wrote my Masters thesis on productive entrepreneurship and found this interview incredibly interesting and informative. Honestly wish I watched this video earlier and mentioned this perspective in my paper. As always coffee great video!!
Share it
Ya share it :-)
yes please share it!
Coffezilla it was great that you really allowed the guy to talk. You are becoming a great interviewer.
coffeezilla, next joe rogaine
Ya true! Thx
You are very beautiful ❤️
@@benjaminw2354 I think his hair is natural.
How about you make a series of interviews with real entrepreneurs? Someone owning a flower shop, running a car dealership or a restaurant owner.
You should get their success stories out and show that you don’t have to aim for a billion dollar tech start up, but can be hugely successful on a smaller scale and live a great life.
100% agreed.
Many things said in the video were very biased.
@@purpose6113 They talked about innovative entrepreneurs. Not people who want to run regular businesses.
Being a small business owner and an entrepreneur R different
@@_thechosen just saw your comment. Yes, I agree with you
No it's not.
Entrepreneur is a person who starts a buissness.
19:44 Thank you! Sick and tired of folks saying "you're a slave," or "you're not a real man" if you don't run your own business.
INBOXME NOW
+•1•7•4•7•2•3•3•9•1•2•1....
F^O^R^B^E^T^T^E^R^I^N^F^O^R^
Too many insecure boys worried senseless about meeting everyone else’s standards and expectations.
they’re selling shovels, but they’re made of cardboard.
One of the best analogies i've read so far
this conversation could completely change my life 10 years ago. I completely bought the idea that entrepreneurship is just a matter of effort and diligence, refused to abandon my business and accumulated a lot of debt I have no hope of paying and living a "normal" economic life. My business was hit by a national crisis 2014 just after having the best performance so far. In 2020 everything was on the track again to a stable performance... and then the pandemic happened.
What nobody tells you is "success" is 80%luck and 20%hard work.
He's basically pointing out the things I learned the hard way over the last 5 years
Coffee yesterday: I am taking this weekend off.
Coffee today: Here’s an hour long interview with a professor researching wantrepaneurs
This was recorded weeks ago. He said at 25:55, that he will be interwiewing twitch CEO soon, and that video was published 4 weeks ago. Coffee probably has a lot of material in advance.
@@ut971 that's good organization right there
He recorded this weeks ago.
From the perspective of someone who has lived as much out of the US as in; a big part of this issue, which isnt commonly discussed by Americans, is also lack of mundane "boring" exposure to low-level entrepreneurship in the States. In Mexico basically everyone knows somebody who opened their own shop, or a franchise corner store of some kind, and regular middle, middle-lower, and middle-upper class people have either a secondary or tertiary connection to low-yield entrepreneurial sucess. In the US, largely because of zoning laws, this isnt as common of an experience since low-yield commercial ventures are physically distant from where people actually live. I think this lack of familiarity also fuels the image of entrepreneurship as a magical path to sucess instead of a normal thing that some people do.
100% correct. The garbage zoning schemes in this fucked up country of the USA have cost it so much more than most people here ever grasp.
Also true in Nicaragua. My neighbors make shoes, furniture, clothes, and make food and run small shops and restaurants. The government supports these with interest free loans (with a .01% processing fee). The local furniture maker sent a guy over to make sure I was happy with the bench he made me. It's easy to see that being cheerful and running a clean shop make a shopkeeper more successful than one who isn't and doesn't.
Amazingly educational video. Don’t remember the last time I walked away from a RUclips video feeling like I’ve learnt a critical concept that will be useful for my life. Thanks for this video.
I'm a 3 time wantrepreneur/failed entrepreneur. I tried starting a Match-like online application back when I was a poor university student in 2001. Could not get critical mass to get new members because I didn't have members (chicken and egg situation). Coded it between myself and 2 other devs I hired. Lost a lot of money and a bit of my ego too. Then I tried working on this idea about a digital menu for restaurants the following year. The tech wasn't there so I was dead in the water...I wish iPads existed in 2003. Following that I got into real estate around late 2006 to buy Houses that were undervalued to rehabilitate and flip them. We all know what happened then with the economy. I ended up holding on to my flips and rented them out since it didn't make sense to sell them after the market crash. I was underwater for some time. To date I still own a couple rental properties which has taken a very long time to get net positive. I still have aspirations to becoming an entrepreneur but my steady and moderately high income corporate America job is just so hard to leave when I am all too familiar with the path ahead to trying to make something from nothing while providing value.
Maybe it's my risk aversion but I found it a lot easier to try to start these businesses when I was a young, ignorant, fresh out of school kid than it is now that I have a family and set down roots.
Seems like timing has been your enemy and maybe implementation/execution you got into the game pretty early and had foresight but just the timing was a bit off.
I have watched two friends repeatedly fail as entrepreneurs and now they are 55 and have nothing.
Sometimes entrepreneurship has a lot of luck involved in success. It’s not all hard work and skill. Gotta have luck too.
I am at the end of my career in private sector and govt and I have a good pension as I approach retirement while my two friends who failed in business have nothing.
Choose carefully and think what is truly important. Is it your family financial security or some risk taking ego driven failure. Which is more important?
@@JasonDebly jumping on this thread as a 34 year old entrepreneur started at 27 and so far it’s been great! From no education working at warehouses to having 10 people dependent on what I’ve built it’s surreal.
It isn’t all roses it is incredibly freaking hard! Workers don’t care or know what goes behind the scenes.
What has helped me and what I’ve noticed with many failed entrepreneurs is that they don’t know absolutely crap about business like simple things like what’s a supply/value chain, how to manage people-leadership, marketing, sales, numbers etc at the very least you need to be excellent at least 2 of these if not you’re doomed from the start.
People emphasize luck way too much I think it makes a small part of a success I would emphasize more recognizing opportunities.
@@JasonDebly In my experience the worst entrepreneurs are those that failed at school. Look at most successful people and they usually had a very promising career first. Bill gates, zuckerberg etc dropped out of ivy league schools.
@@lewisburton1852survivors bias? Not hating just throwing that in there to keep in mind!
Successful entrepreneurship is not rare. Look around you, all the restaurants or shops that you see running for years, those are examples of successful entrepreneurship.
Nah, I'd call something like Mojang or MySpace successful entrepreneurship. Build something up and sell it off once it's reached a high value! That's how you get rich. Or better yet, hire people to do the work while you just do some lightweight macro-level delegating here and there.
@@GhostSamaritan By that definition, everyone who has ever created a company that did not become a global behemoth has failed, which does not make sense. If you make a lot more than you do as an employee, if you bring value to society, if you like what you do, if you hired other people and made their lives better, then that is a successful company. Entrepreneurship does not mean venture capital funded tech startup, that is just one particular type of company.
Facts, people think you have to be this multi billion dollar company or you're a bust.
yea, that's a fallacy. for every business owner, successful or not, there are millions of regular people. that's also why they can generate millions. few people create, most people consume. hence, its rare.
This professor is talking about a higher level of entrepreneurship
90% of startups fail. People forget that having a good running business requires either innovation or improvement in regards to your competitors. Doing the same as millions of other do won’t get you anywhere.
You can enter a market. Think burgers fast food chains. I may even be easier as you don't have to explain how to use the product or what it is.
Listen folks it's really simple. Keep ur job, while u keep it develop ur hobby, make ur hobby into a company. If it doesn't work out try another hobby. If none works out. Nothing than. U still got ur job u still a good productive citizen. Don't get id in debt and that's it. And invest in stocks and an index fund ofc
A good productive citizen lmao
Why a hobby? There's already advantages to being a entrepreneur: making your decisions, choosing your co-workers, choosing your client, etc.
@@lunarmodule6419 The chances of this happening successfully is so minuscule compared to someone who works in a successful field & job hops.
Lol just lost my job.
Coffeezilla, a video about that part on how exactly people are under-utilising college education would be definitely be super interesting! great interview as always!
I feel like today you see a lot of people who are just “entrepreneurs” , but I feel like in an innovation based market, the people who would create that innovation are engineers and scientists and the like, who start their business. This contrast with people who have no experience in the field they want to get into, and are just “entrepreneurs”. I heard someone once say, if you want to get into the technology area, if you don’t have experience in the field, and you have to hire someone for say, research and development, that’s not your employee, that’s your partner, because you need them to succeed.
Right now, I’m trying to create a fashion brand, which is not really an innovation based field, at least not in the sector I’m trying to get into. It’s more of a branding endeavor. But I was a designer before trying to make a brand. Fashion design is presented as a very glamorous field, and I see a lot of people who aren’t good at designing, or don’t know how to design, trying to start brands because they like the lifestyle presented.
That’s basically how I feel in regards to new ventures. Science and engineering are king in the 21st century. Improving our health, homes and whatnot. That something a sales person or a business degree graduate wouldn’t really have a lot of experience so you partner with a scientist or group of researchers to create a team and a plan. It’s not just hustling and bam your a millionaire. If anything I think ventures today are 10 times harder because they are science and tech heavy which is not something everyone has a lot of knowledge about. It’s so risky now. Also good luck with your business.
Innovation entrepreneurship carries more work and risk than regular entrepreneurship.
Hence the average age of successful founders. An engineer or scientist has between 25 and 15 years experience by then in his field.
Engineers and scientists innovate, sure, but many times you’ll see that the people who “create” don’t necessarily know how to “sell”. You can still be an entrepreneur and form a partnership with innovators, and while they innovate, you can sell and market the product or idea. Yes there are superstars that can do it all, but it’s not the majority. There are many puzzle pieces that create a successful business.
Example:
Maybe you’re just good at making the clothes and not at branding/marketing. Maybe you can market things, but not create.
"that’s not your employee, that’s your partner, because you need them to succeed. "
What helped me when I was younger to get out of an MLM was remembering some business person/people talk about giving yourself a deadline for certain indications of success. Honestly i think it was a sharktank where some old guy was trying to reinvent the paint brush and spent millions and got nowhere. Because of a naive young person hanging on to a shred of advice, I moved on after 5/6 months and people twice my age stayed in and lost everything. Them talking about trying to prove yourself wrong about being successful in something reminded me of this.
Sounds like failing fast but with a deadline.
@@_thechosen Actually, it sounds like risk management...
Successful entrepreurship isn't rare, its on a distribution. Some people fail hard, some fail a small bit, some break even, some win small money, and a very select few when "big money."
Simply put the saying "during a gold rush, sell shovels" is a metaphor that suggests that when you recognize a gold rush is happening, don't try to be the 1,000,001st person to mine for gold, because you will probably fail. Rather sell the tools people need to “get gold”. Why would one spend all this time coaching and training others when they could simply just continue doing the things that make them money. At most you might make a video, but to take on customer support is a lot.
Bruv (or bruvette) friendly reminder for you lot to check your bank account on a daily basis. The more often you check the less likely you are to overspend. Pocket watch yourself 🤧💯🤦🏾♂️
That is actually how Trumps grandfather earned his money, kept inns and bars catering to gold miners.
@@kummeliman and brothels.
Heheheh “bruvette” excuse me while i steal that one
I was a entrepreneur,I wasted a year of my life on it from fake gurus which is why I love your content
No you never were a entrepreneur. You just wanted quick easy money. Entrepreneurs never give up.
@@Ernster86 this is exactly one of the point said in the video. False positivity and ignoring the potential costs to entrepreneurship. always be pragmatic in Business world
@@Ernster86 Ok ok relax now...
@@lunarmodule6419 He's right though. People like the OP give real entrepreneurs a bad name. Real entrepreneurs actively work on their businesses or projects and don't just sit around listening to gurus all day while daydreaming about being rich.
What specifically did you do everyday to get clients/customers?
I found that my first 2 businesses failed because I lacked the boring dicipline of sales. It is often repetitive and mind numbing, and emotionally taxing.
Lots of people want to be Entrepreneurs until they SEE the day to day struggles, and again the success rates of actual entrepreneur. You shouldn't stop what you are doing, just have a vision and a clear path if you do want to go down and continue becoming an Entrepreneur.
This is pure gold. You’ve perfectly described someone I know who is completely brainwashed by this industry. Captain obvious here but this all leads back to the ills of social media. Great work here!
Greed explains it all... Greed and people's naiveté perceptions that one can make millions without putting in massive amounts of work.
Greed, laziness, insecurity, inflated ego etc. Yup, I know the type. A few have managed to be successful in business. Many crash and burn. The majority never move beyond talking talking talking your ear off about their latest scheme that will allow them to live the life of a Corona commercial while their imaginary lowly employees do all the work.
Greed certainly explains a lot of entrepreneurial,, white-collar, organized crime, show biz or pro sports ambitions. Executives only work from 9 to noon. The hardest-working people are migrant farmworkers, who are poor!
what they're talking about is geared more towards entrepreneurs engaged in get rich quick schemes like drop shipping or Tech stuff. If you spend a few years learning a specific trade, there's literally nothing stopping you from taking it as far as you want. I went from cleaning pools, to repairing equipment, to remodeling pools, to installing pools within 5 years. It's stressful but I'm earning much more than my friends with college degrees. The shit still seems surreal.
People who learn a specific trade or field can expand their knowledge of the field and offer more services. Not knowing a field and expecting to make money from it is kinda silly. Money should come to the person running the business, not go to people doing inspirational talks on how if you try you can make it. If you learn, you can do better.
Not trying to become an entrepreneur but the ideas in this conversation you can put into your own life and your own career are great
Successful young entrepreneurs almost all have rich parents and industry connections. They may not have been in the industry, but they were all connected to the people that were that gave them tons and tons of advice.
Yep, a bit of truth nobody is talking about. I have witnessed this myself. Trying to be a successful farmer starting out with nothing and watching others my age who have built big empires in relatively short time. Come to find out they all had big money backing them yet they arrogantly strut around as if they built their farm from nothing with nothing.
I know two people who started coding in high school and made a lot of money. They were middle class like I was, t hey just had better focus on what mattered and had it early on in life. I'm jealous of that discipline, it took me till 30 to find that.
“Entrepreneur” tag is the cool word today that does not require any effort to get unlike doctor which requires years worth of hard work.
It requires ridiculous amount of effort to earn. For selfentitled It's easy
Why pave your way when you can pay your way?
@@Gd-jq6mz yeah bro.
@@himanshukamble6579 yeah
I would like to add that all of this entrepreneurship culture wouldn't be as popular today if the majority of the population was doing well financially. This culture to me is just like the beauty industry which targets people's low insecurity of how they look and the same idea with gyms and being out of shape. Now you got a bunch of people selling this entrepreneurship thing and hustle culture to thousands of financially insecure people.
Your take is 100% correct.
Brilliant point you have made.
To me this is the root cause of the entrepreneur crazy.
I think you're ALMOST RIGHT. It's not that people aren't financially well - historically, we're at the best we've ever been. It's that inequality keeps increasing, while we're being sold ideals of ridiculous standards of living. Social media, in particular RUclips, Instagram and Tiktok, I believe, are leading to an even more warped perception of reality, due to the nature of recommendation systems. Most people who set off to be wantrepreneurs aren't poor at all, they just spend too much time on the internet and thinking about celebrities.
Someone needs to post this on Alex Hormozi’s videos
The beauty industry relies on people being undiciplined and wanting a quick fix. Why eat healthy and cut out things that cause skin conditions when I can just buy creams and put on concealer/foundation?
TBF the gym industry does too, because if everyone who joined showed up to put in the work, they wouldn't have enough space or machines.
Its a similar thing with the crypto bros. Everyone wants quick gains with minimal effort. Everything on easy mode.
150% on-the-money comment.
I feel like more people should explore the idea of entrepreneurship as a hobby. Our society, and the way we do work has instilled in us that if you don’t follow your passion as a way to generate income to live off of, you can’t do it at all. People don’t seem to have hobby’s anymore. Difficult as it may be, you can run a business and work a 9-5, if you’re that passionate about it.
But in general, i think people should focus on living a fulfilling life. If entrepreneurship takes up your whole life, without allowing time to enjoy yourself, or spend time with people you love, just to make less than you would at a 9-5. How fulfilling of a life are you living?
I always thought it seems like everybody wants to have a business nowadays. I just want stability. A stable job. A stable income I know I can rely on. I'm starting to think all that obsession with being successful is toxic. Regular people with normal lifes should be praised more.
And I think that no one should be praised that much. Everyone can choose their own way in their lives. Some chose entrepreneurship, some regular jobs, some building careers in companies. There is no reason to think less of anyone of them.
what's the thing with praise anyway
We live in a culture of greed where everyone thinks they are entitled to more more more bigger better faster
Yep, everyone wants to be their own boss of a successful business - it's sad that so many of them lack the most basic competencies to ever make it.
“Success = Talent + Luck ... Great Success = A little more talent + a LOT more luck” - Daniel Kahnemann (The father of behavioral economics and Nobel prize winner)
And hard work
Yes! many dont realize that one can increase their probabilities of luck by exposing their ideas and efforts to as many people/outlets as possible. Essentially, the more one grinds and adapts to consumer preferences , the likelier outcome of success.
Yes, thank you! This extraneous variable is always forgotten in the analysis for success or it is vastly underplayed purposely by those who want to claim that success is available to everyone and all.
Which book is this quote? Thinking fast and slow ?
Nah. Big goal and relentless work and adaptation. Few people are ready to pay the price.
People who's never been an entrepreneur and don't now the cost of becoming one, is very easy to trick into thinking it's something anyone can do.
Wtf. Anybody can do it. It all starts with the proper mindset.
@@jt_rooster3228 really it starts with capital
@@somewhatdiscrete well, everyone I ran into saying that regrets not starter soon
you're pretty much on the money the 3 jokers reacting on you have no idea what it is and takes. you need skills especially people skills, if your idea is good, money will find your idea although you need to prove to the banks and investors, you're good with money
Software Engineer here, used to help out startups, they are really fun but as Dr. Hartmann stated, the income generally is lower, the reward is more intrinsic knowing your product/service launched.
Don't conflate schooling with education. Prioritize education over schooling, even if you attend college.
And if one is going to go to school stay in state unless you’re getting some seriously primo scholarships. It’s a crime what’s gone on over the past 20 yrs regarding education
Thank you guys. I really needed to hear this. Im NOT a wantrepreneur but hearing and learning about this will cause me to not make this mistake and waste time out of my life. Much appreciated.
A good bit of advice - start with the hypothesis the business will fail if each product/idea fails. Most important that leads to testing, minimal viable product, whatever popular term you want to call it... And the thing most folks miss is saying no to ideas/products far more often than not.
My MBA (a waste of money according to these entrepreneurship scams) thankfully had a sustainability frame & more realism than many schools.
It is astonishing how easy it is to pick out these fake entrepreneurs that don't know the industry, technology, how to calculate cashflow, read a balance sheet & income statement, or design some experiments to test a new product.
‘Most of us need some time to get going.’ Amen
I pursued entrepreneurship because I hated working for someone and always had issues with my bosses. That’s probably on me, as I can be arrogant and it’s generally “My way or the highway” (I am getting better though) So I understood it would never work as long as I had to work for someone, so I started my own business and it’s going really well.
I just wanted to do things my way and run a business my way, whilst pursuing something I really enjoyed and was passionate about. That’s my reasoning for becoming an entrepreneur. That doesn’t mean everyone can do it, I’ve worked harder than I’ve ever worked in my life. But I wouldn’t ever trade it in for another standard 9 - 5 day job.
Great story. Mine is opposite and reasons were the same but I ended up in entrepreneur graveyard.
@@_thechosen Maybe you can try it again and succeed. This time learning from your mistakes, possibly in a different field, with a different strategy. I don't know anything about what you were doing, but as long as you still want to do it and it does not ruin you, I would try it again.
Same. I'm just awful at doing what people want me to do. I don't really have a choice but to start my own thing IMO.
Best point of all: "Industry experience is going to let you know what the problems are in an industry."
Yes, I was a wantrepreneur from early 2017 too late 2018, for 18 months I had a social media marketing agency in that time I made less than $3,000. It was really stressful and unproductive, I kept telling myself maybe this course will help me find clients and I kept going and going and going until 2 years past with nothing to show for it.
What are you doing today?
Lol courses will never help you land clients. You have to go out and find them yourself. Whether or be door to doors, cold calling, or cold emailing. If failure scares you (talking in general), this is going to be VERY hard.
I bit torrented courses, landed some clients, but dealing with them was a pain in the ass for real. But I'm glad I didn't pay for any course's
@@noelr1010 Sales can be taught like anything. But yes after you need to apply.
If you weren't making 200 cold calls a day, you didn't do what it took to makw it work.
I own a driving school here in Chicago. It's a lot of trial and error and see what works and does not work. It has taken literally 5 years to get me where it's at now. I feel like the word entrepreneur is thrown around a lot. I am definitely a Business Owner, but not an entrepreneur.
This is for real, the ads for fake gurus are now popping up all over my feed in my country (Indonesia), and its like they copy and pasted the format from the west.
Bad thing is education is not that great in my country and not alot of people have access to it, but everyone has social media access so theyll come across it eventually and since my country is less ecomically developed, you better bet they want a better life and seeing the fake guru ads not knowing its a scam makes them very vunerable to these charlatans.
Same here southamerica, 🤦🏻♂️
Same here! Same pitch, selling 'courses'.
One woman here in my Nicaraguan town bought into Herbal Life, so yeah.
I encourage folks here to read the paper as it's good.
I liked it because it was quite readable, it contained interesting psychological insights, & it caused me to question some of my own beliefs.
I’m not an entrepreneur, but the successful ones I know have 1 thing in common: they actually learned the job before starting a business. All the failed ones I know didn’t know the actual job.
coffeezilla is the most disruptive force I have seen in a while. new motto: don't be an entrepreneur. Honestly this guest has the credentials, the only reason i want to be an entrepeneur (freelance programmer) is because i got tired of my office job, but I know my limits. since I am not a superstar, I would have failed years ago when I was in my 20's. Now In my 30's I am more confident because I've got more experience.
Being an associate professor of business is not much of a credential. He's an academic, not a business person.
My former boss was like that. He kept jumping busoness ventures, often leaving profitables ones to end up in FBA efforts that cost him a fortune. He had no management or leadership skills, but he had those cult books.
You wanna know what I like more than materialistic things? KNowledge from watching Coffeezilla
It’s spelled “knawledge”
@@stachowi that's right
...also the simultaneous collapse of the labor market into a techno-feudalism
@@TheVFXbyArt that's right
@@greetruben ⁰⁰hel yes I amrrasy
This video is a goldmine. A big eye opener for me. Thank you for this really insightful discussion.
Selling the dream was a huge part of what drew so many people into Amway and other MLM's prior to the internet. The presentation ALWAYS started with getting you to dream what you would do with hundreds of thousands of dollars. Then they make it sound like you just have to follow the plan. What they hide is that the activities that truly make money are very difficult, or require a very specific type of skill (such as the ability to SELL, which few have at a high level). It is possible to make money on any number of products or services, but it is MORE possible to lose a lot of time and money when you jump in with unrealistic expectations.
The moral of the story - take chances but understand the risk
Follow your heart but don't forget your brain.
It's a bit more complex and more themes were discussed: Psychological aspect, the current US entrepreneurial situation, etc. Re-watch.
Way too simplistic of a takeaway.
And I mean if you're gonna make it that simple, it would be better to say "if you're gonna take risks, know when to back out and cut your losses.
But like Lunar said, there's a lot of other takeaways.
I was a wantreprenreneur. Started a landscaping company right out of high school but gave it up once I realized it wasn’t going to make me rich, then started a beverage business about a year or two after, which didn’t do too bad actually. But I think the problem was my focus. I was enamored with books on success at a young age and was more focused on building the attitude of an entrepreneur without actually building anything meaningful. Now fast forward I’m 25 years old and just finished my first semester in business school feel old amongst my classmates got into the only school that would take my low grades but so far it feels like the best decision I have ever made, instead of learning about being a go getter I’m actually learning valuable information, things that actually give me a fresh perspective on how I view the world and business. It’s what I should have been focusing on as a young kid. All these gurus and entrepreneurs tell you to think different and to not go with the flow yet they go out and do the opposite thing. This was a great interview and I think this topic needs to be brought more into the mainstream.
🤔 interesting
😂 this is so true, What people don’t understand is that business school has structured classes starting with the fundamentals instead of grabbing a book here, watching a video there.
But you were successful. So what is the problem?
@@floridaman318 they didn't say they were successful.
@@rakino4418 yes he did. Just because he didn't become a billionaire doesn't mean he wasn't successful.
This was a fantastic video. One really has to understand that we are dealing with a highly competitive market here. That means you need some sort of edge to do well. If you're just a person of average intelligence, with no particular skills or connections, the likelihood of doing well are extremely small. In almost every endeavor, you are competing against some super smart, very well connected people with lots of experience.
Sweet coffee has assigned homework, i'm definitely reading this paper.
I am an entrepreneur. I'm not a wantrepreneur nor ever had a wantrepreneur mindset, I realised I enjoyed building an organisation and the sense of producing value and services not otherwise easily available. I never looked for approval apart from by myself, for personal reasons though. I don't talk to my peers much about it because it's more personal to me or something idk why. Even my parents haven't gauged the level of success and value I built my company into at 23. I guess it's mostly because Im still an undergrad, but I feel maybe there was something in my mindset that helped my venture so far turn rather successful that wasn't present in others who didnt have the same outcome.
but I echo what this video is about. I'm more comfortable now, but 2020 was the year of development and it took a huge toll on me. However, it paid off so I'm not discouraged. I also had a unique upbringing with business being largely centred around it. And it wasn't an amazing upbringing, it was pretty painful. But it hardened me I guess, and it sort of geared me to what I know is what I do better than anything else (apart from driving lol). I think understanding both sides of catastrophe and prosperity will give you perspective because often times both situations could feel just the same when you're there. Those ups and downs are part of my developing years too. It was a unique painful life. And I don't encourage people to indiscriminately engage in entrepreneurialism. It's dangerous. And you probably aren't made for it.
Elon Musk saying 'unless you like chewing glass' don't be an entrepreneur is something I can sure drink to. Despite that, it's what I want to do. It's what gets me up in the morning. It's the building of something. To look onto some metaphorical horizon and feel that, you built it. Like Da Vinci looking at Mona Lisa. I don't see my business as a means to gain clout or even a fancy watch. It's something I'm cultivating, it brings direction to my life. I'm familiar with the pain, and the pleasures. And I know that if you're seeking happiness from entrepreneurialism then you are seeking the wrong thing and will end up on the wrong place entirely.
Excellent bud, as a 26 year entrepreneur I approve of your message!
What type of business do you run
agree to your comment. It's not about satanizing entrepreneurship like many other comments suggest, but just portraying it for what it really is.
Excellent work brother. I didn’t start my entrepreneurial journey till I was 43...best move of my life.
Tai got my in his courses when I was 16 and broke. They do not care who you are. Only want your money
Nice rented lambo
You're right!
🤣
They want to help you.
I really enjoyed this program. I started a business in my 20’s and failed. Learnt a lot. I went from that to a professional occupation. Now that I am in my 50’s and approaching retirement, I am thinking of pursuing an entrepreneurial project. I’m 1,000,000 times better prepared than when I was 25.
27:00 my father was in his late forties when he started his first successful business venture, after 2 failed attempts; it still took a few years after that before it became decently successful and, by then, he was in his early fifties.
The discussion(s) around the riskiness of the business world were great. One very smart thing that my father did to offset SOME of his risk is that he never stopped working full-time while trying to start a business (a cousin of mine recently left his full-time job to start work on his new and 1st business attempt, which is now his only source of income -- yikes). And the smartest thing that someone who wants to start a business can do, at least as I see it, is to go to school, get a fancy credential or two, secure a well-paying and stable career, and then work on a business on the side. True, doing that is a ton of work (essentially 2 jobs), but if you're going to do something that risky, then you DO NOT and SHOULD NOT want all of your eggs in one basket -- at least not until it's reasonably successful and pays well. But it's still pretty risky lol. C'est la vie and all that.
A very relevant talk about what the realities of being an entrepreneur are. I hate it when those 'laptop' lifestyle kids have ads on RUclips telling people that happiness is all about being your own boss, working when you want for as few hours a day as you want, work from a beach in Mexico, with no money needed to start out.... This is all so much crap! Real business owners work their butts off day and night, when their customers need them to and not just when they feel like working. They generally work twice as many hours as week as regular employees, especially when starting out, have much more stress, and make a lot less money (if not going broke in the process). Besides, most people actually do want to do real work. To contribute and challenge themselves. Even young people today would be totally bored and unsatisfied if they only worked for an hour each day, which, of course, would never happen in reality anyway. But this is the lure. With e-commerce exploding everywhere and extreme unrest in the world, there is lots of room for exploitation of people who definitely will not make it in business in this market. People forget that their focus has to be on providing a valuable product or service if they want to be successful. If a 20 year old kid has an ad that claims he's made it rich with his awesome online business model...well, there are a bunch of red flags right out of the gate. And people need to question that persons motivation and the logic behind it before they buy into this kind of crap. I think many people have lost their ability to be logical and realistic. This is how exploitations happens in the first place. Thanks for a great discussion!
19:10 As an entrepreneur, I had an established business/company but it occurred to me that I wanted to get into the new age finance job, and so I applied. My resume [after my first interview] was declined due to my background. They sensed that I may be more interested to get into their space by learning about the business vs. becoming a lifelong employee of the company.
I am co-founder of a company that started 2 years ago. We are located in the EU, so things might be a bit different here, but I see many similarities in what you talked about. I call it Startup-hoops. We pushed in the beginning hard for funding and recognition, but we also saw that as a startup you start to be treated like a cirkus animal. They make you jump through all the hoops, here a pitch contest, here a funding opportunity, free mentorship (usually from someone who never started a company and just uses this as a possibility for upsales) and much more BS. In the end you spent most of your time jumping through all the hoops and not concentrating on the company or your product. Sure, the pet on the back when you won another pitch competition is great, but does it really bring you closer to your goal? I think what entrepreneurs have to learn is to assess all the offers more critically and I believe most of these offers will just disappear if people get more critical about what they spent their time and money on....
I have a small side business selling my drawings (pre-pandemic I could net a couple to a few hundred from a day at an art market) and while the info isn’t necessarily directly transferable, this and much of the other content CZ has posted has been so inspiring and informative… and reassuring.
Steve. I really like this channel. Social media has caused many of the problems. Tony Robbins has been around for decades but you are highlighting that he has become extremely wealthy by simply selling a fake motivational message.
The biggest lie we're told is that hard work pays off, when the reality is that high IQ pays off. It's not a coincidence that people like Zuckerberg, Gates, Musk, Bezos... All of them were accepted in an Ivy league University, all of them are extremely smart individuals, that combined with motivation and luck produces success.
Oh absolutely
Actually, already having money and connections in the family is the secret, honestly. Some of them got into those schools after years of tutoring and assistance.
@@LilBrownieD That´s true but how did they have that money in the first place. Look at these guy´s parents, they´re usually highly educated people and great in their fields. There are studies showing how wealthy families keep losing money after a few generations. And we also know that most millionaires don´t come from millionaire families but usually from highly educated middle class families. So although you´re right, it´s also true that seem like inheriting intelligence is more important than inheriting weatlh. B
@@maxmaxwell4211 Generational wealth. A lot of these parents had the money to send their kids to collage often back when tuition wasn't privatized. Nowadays its just too expensive to get a four year education putting you in a lot of debt that will take years to pay off if you didn't get in early like Gates and Bezos did.
Also you can't inherit intelligence, intelligence is formed through experience. It doesn't matter how smart your parents are if they don't have the resources and connections to get you in to the high places.
@@kappadarwin9476 That last part is not true. Intelligence is mostly inherited.
As a follow up, you should do a video on tips to be a successful entrepreneur! This video is honestly a tad bit discouraging for people who do want to actually be real entrepreneurs
Try Dan Lok or Tai Lopez lol
True
Talyah R in my experience with starting a businesses, always make sure you have a unique idea, a viable way of getting customers (and you can afford it), and of course a product that isn't widely available or unique in the market. For example I had a vegan cinnamon roll stand in a city where vegan foods seems to be very lacking but the supply of customers is not. Still I had to learn about the high costs of the food business and it gave me a better idea of what is necessary to be successful. I realized i wasn't well capitalized and the costs to start were high, however the demand was there and we found demand for other products as well. If i were to do it again i would seek out kitchen partnerships to reduce costs and attempt to show my previous sales data to gain investment in a physical location. I would also hire world class bakers and chefs to curate the menu and I would likely spend at least a year promoting our release to the population and having taste popups and demos. However i wouldn't venture in unless i had at least 30-50k to spend on this and I wouldn't venture back in unless i could secure investors. I hope this helps, real entrepreneurship is about solving a problem for people, i myself being vegan recognized this problem in my area, but remember you also have to find out if you have the resources to actually solve the problem.
I feel like chucking this video at all those posts and generally anyone who says "Just create a startup" we've all seen them right?
Also interpersonal/ cofounder difficulties should not be underestimated! Nearly all of the startups I witnessed including some of my own I helped to found failed because people ended up getting sick of the sight of each other, be it stress or difficulty getting clients, as we lacked resources to successfully manage this, it quickly turned to toxicity and blame culture between people that once considered each other 'friends' in better times. I know it will be a while as I recoup and learn before I try another venture, great video!
The term "entrepreneur" is so watered down smh.
Only Fans saying they are entrepreneur
Part of it is an misunderstanding of what an entrepreneur is. Entrepreneurship requires innovativion. Most people confuse it with just starting a normal business.
I have started and ran 8 companies. 3 pretty successful, 3 crash burn, 2 just ok. I am 58, an old school entrepreneur. There are no shortcuts. You must learn to lose, bleed without crying and work 100 hours a week. Most younger people in the US get distracted too easily. Internet noise, so called 'experts', young trillionaires, etc...Ignore them all. If i had all the distractions you have nowadays, i never would have been successful.
Wow this is very interesting, does he have a course i can buy?
"Rent my book, how to become a millionaire in 2 days, only 999.00 dollars a month, also get a free sticker!"
Lol
😂😂😂😂😂 bro
🤣😂🥴🥴🥴
We should apply this thinking to marriage: It's very rare that couples remain happily married until death, but most couples think their marriage will be wildly successful.
Yep, unfortunately
@@c.s1393 It's a well-researched topic in social psychology: People overestimate their chances of beating the odds.
Are you kidding? Business is not at all like a marriage. Business is about financial success and career. Marriage is a life-long legal and spiritual contract with another human being. Success in any relationship is not based on 'beating the odds' or conforming to someone else's idea of what success looks like. Yeah, it makes sense to throw in the towel for some marriages. But going into it or comparing it to business success is ridiculous.
@@Yosetime Marriage is essentially a merger. "Jesus lived and preached in a world that saw marriage primarily as an economic contract. Jews considered marriage a commandment, but one intended to benefit the wider community by ensuring stability and economic prosperity."
@@Yosetime marriage is 100% a business contract. Religion deludes you
I’m feeling like a wantreperneur sometimes. Engineering school hard, so I feel like I should be thinking, if I can’t do engineering what makes me think I can do entrepreneurship. Loved the talk. Helped me out
I am a wantrepenur i currently work 9-5 job & are trying many things like RUclips , online store & gaming channel . This content is gold more people should watch this.
This is such an eye opening and revealing interview. Loved it! Just so many schemes and dodgy stuff on the internet today, which can ruin people's lives. Interviews with reputable professors are so necessary to help unmask such schemes.
Absolutely priceless video! Thank you so much.
Highly valuable discussion. New entrepreneurs need to recognize what they're getting themselves into and WHY they're pursuing the career path in the first place. Great work.
Coffeezilla - please get some rest. We will be here when you get back. Don't wear yourself out please! 🙏🏾🧡
It would be awesome to get these longer episodes onto a podcast site. It would be way easier for me to listen to and do other things since I don’t use RUclips premium! Keep up the great content!
lol I just signed up to yt premium so i could listen to this video while I'm doing the dishes. rip.
@@willvickers7491 haha I may have to as well
I hope he backs up the vids to odyssey/ lbry/ etc :'D
But protip, look up N ew P ipe, for uh.. a way to listen to youtube vids :'D
I was a wantreprenuer for a while. It put me into debt that took me 3 years to get out of, working 70 hours per week, and living in my car. I was trying to have a print on demand / dropshipping company.
Now I’ve got a company valued at about half a million. But I still wouldn’t recommend being an entrepreneur to most people.
If it wasn't for being a wantrepreneur in the beginning would you have a company now worth 500k. For some wantrepreneurship could be a stepping stone to become an actual entrepreneur.
this right here...
COFFEE ME LAD, THIS IS PURE GOLD!!!!!! LET'S HAVE MORE OF THIS WISDOM, BUDDY, WHENEVER POSSIBLE. THANKS A MILLION
I wanted to be an entrepreneur but yeah deep down I knew I could not afford it. Thanks for confirming it! Preach
WTF? Don't give up on your dream! Being an entrepreneur on the internet has never been cheaper or easier. I have done it.
while it's necessary this pessimistic narrative to counter fake gurus and such, don't think that this is the ultimate truth.
Entrepreurship is definitely possible, just know that there is a learning curve. It's literally like learning a skill or a sport. Just be on the watchout for this fake gurus, and focus on learning real marketing, and real startup info.
@@Ernster86 I don't wanna risk my financial stability, i just wanted to do it to be free from a boss but obviously is not the case.
@@Ernster86 What business are you in?
@@_thechosenI do blogging
This is so insightful.Thinking about it most of us have not really thought about the science of entrepreneurship.Its good to hear what the data is saying.