The 3 WRONG Times to Start a Business

The 3 WRONG Times to Start a Business


Just a few decades ago, the biggest dream
of most people in the world is to get good jobs immediately when they get out of school. Then, if you want to make it; get a job in
a bank, in a good hospital as a doctor or in some big engineering company, your money
problem is gone. That era was called: the industrial revolution
era. Unfortunately, nothing lasts forever. As of 1985, according to some experts, we’ve
officially crossed the border from the industrial era to the information age and that came with
some challenges. Machines and technologies grew in their strength
to do human jobs and this led to higher competition for the few remaining jobs. According to my high school’s economics teacher,
when the supply of any given product is higher than its demand, the price must fall. In this case, the price of labor falls and
many people are out of jobs. What should we do? Well, most people think the best thing to
do is to start a business, make some millions and become successful entrepreneurs. This noble idea sounds good until you try
to be an entrepreneur. For most people, they start businesses at
the wrong times and for the wrong reason and that’s what I’ll be discussing with you in
today’s video. If you’re new here, consider subscribing so
that you won’t miss other interesting videos like this. Starting a business when you want to become
rich Just yesterday, I was listening to an interview
with John Scully, the former Apple CEO as he speaks about Steve Job. According to John, prior to the time when
Steve Job left Apple, the company released a product, which unfortunately, didn’t do
well in the market and because of this, Steve Job became very depressed and he was willing
to do what John Scully considered to be a wrong thing to do and that was what led to
the resignation of Steve Job. Now, let me get you to see something here;
Steve Job was a billionaire. He had made more money than any reasonable
human being could ever spend before he was 30. So, if someone is already a billionaire, why
does he get depressed because one of his company’s products failed? Here is the trick;
Successful businesses aren’t built by people who want money and one of the worst times
to start a business is when you want to do it to make millions. I say it again; successful businesses aren’t
built by the people who do it for money and I’ll explain what I mean. Take a moment to listen to some people, either
in politics, sport or church. Now ask yourself, “what do I feel when I was
listening to all these people?” Something becomes very clear; you feel inspired
or convinced when you listen to someone who feels inspired or convinced about the subject
he’s talking about. On the other hand, you immediately get bored
or unconvinced when you listen to someone who is trying to speak on the subject he isn’t
having any conviction about. While this is very obvious when we speak,
there’s the same effect on anything we create. Take, for instance, I’ve created a few products,
written a few books and made hundreds of videos on this channel. What I can tell you from my experience is
that, every product I ever created without passion was received without the needed emotion
by the target market. You see, a product created without passion
doesn’t make the market feel any passionate about it. While money is good, starting a business simply
because of the money will not lead you anywhere near success because it will be very obvious
that your products or services were not created out of the love for the market. Another reason why you should never start
a business simply because you want to become a millionaire is that; well, building a business
is too tough for anyone who wants only the money to have the strength required to get
through those tough times. Starting a business, you’ll get to a point
where it will become obvious to you that you’re stupid. You’ll make mistakes, fail and get rejected,
so much that, if you’re not truly in love with your business, there’s no way any reasonable
human will continue in that path and that’s probably the reason why most people stop trying. One of the wrong times to start a business
is when you want a million dollars. While money is great, you can only make it
if you can figure out the kind of business you’ll do tomorrow if you already have a billion
dollars in your bank account. When you’ve learned a lot about your employer’
business So many people all over the world think they
are being cheated by their employers, especially because they think that the employer makes
all the money even though they are the ones doing the hard work. Often, these people get angry and start their
own business, thinking that they know all the technical part of their employers business
and they can as well make as much money as their employers. Well, these people are very correct. They know some technical aspects of running
the business but, unfortunately, business is like a sport or war. It’s not just a technical game. Business in the most part is an emotional
game. Even though you’ve worked in a business for
one decade and you’ve understood every aspect of the business, you still don’t know how
to make such a business succeed and I’ll explain that. To understand what I’m saying here, imagine
an Army. Even though a good army does all it can to
train its men and empower them with the needed weapons, every general knows that strategy,
and not weapon is the secret of warfare. So it is in business. All the technical duties you see outwardly
are just like the weapons for the army. Behind all those technical tasks are the strategies,
leadership skills, collaboration, discipline and mindset which are not visible to most
employees. Starting a business because you think that
you’ve known all the technical duties and tasks of a business is the wrong thing to
do. Instead, you have to focus on the invisible
skills that matter to the day-to-day running of a business. You have to be honest with yourself. Do you think like an entrepreneur? Do you have good leadership skills? Do you truly have passion for the industry? Can you do this same business for the rest
of your life even if you don’t need any money? Do you understand the market, the competition,
and the players? When you just resign/lose your job
I’ve seen so many people starting a business when they just lose their jobs. The problem with this is that job and entrepreneurship
are like living on the planet Earth and living in the Space. Different laws of nature govern these two
worlds and you can’t just move from the planet Earth to Space without preparing adequately
for your trip. Having been an employee for a decade, you’ve
been unconsciously programmed to get reward for your labour every month. You’ve been programmed to do only what you’re
asked to do. You’ve been programmed to see the world around
you in certain way which is usually the opposite of how an entrepreneur sees the world. Now if you suddenly lose your job, what I
advise you should do is to cool yourself down, look for another job and maybe, you can then
start preparing yourself for your trip to Space. What I want to achieve with this video is
simple; I want to get you to see that there are right times and wrong times to start a
business. Don’t start a business because you think entrepreneurs
are rich. That in fact, is a lie because most businesses
fail. Don’t start a business because you think that
you know all the technical aspect of a particular business. Businesses are not run with technicalities
but with strategies, skills and certain mindsets. Don’t start a business because you lose your
job. Take your time, get another job and then start
preparing for your trip to space. Thank you so much for watching our videos. If you like this channel, we’re happy to announce
to you that our team has launched 3 other interesting channels. One of our new channels is called Hunt TV
where we publish inspirational videos to inspire and encourage you as you go through the harsh
journey of life. Our second channel is called Fame TV where
we share with you the interesting and inspiring stories and biographies of the successful
people who have achieved greatness with their lives. Our third channel is called Money TV which
is a channel designed to use more dramatic video clips to teach you about money. Look at the description box to join our three
new channels. We Love You!

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About the Author: Oren Garnes

22 Comments

  1. Amazing video! I started focusing on the quality of my content, and I've been happier and I'm starting to grow i just hit over 600 subs!!

  2. Some NOTES here

    1. START BUSINESS WHEN YOU WANT TO BECOME RICH: Successful business aren’t built by people who do it for money. A product created without passion doesn’t make the market feel any passionate about it.
    2. WHEN YOU’VE LEARNED A LOT ABOUT YOUR EMPLOYER BUSINESS: The strategies are bigger than the weapons in war fair so it is business. All technical skill are like weapon and behind tech skills things like leadership, mindset, risks, collaboration, discipline are not visible to most employees.
    3. WHEN YOU JUST RESIGN/LOSE JOB: In this situation just cool yourself down look for another job and may be then start preparing for your trip to space.

    As always, my crazy passion is to share summaries like started doing it on my channel with PDF summaries.✌
    Let's not start business because business will get us lot of money💰

  3. Ive been considering self-employment and I 100% agree that I shouldn’t start a business just for the sole reason to make money and be rich. Before starting up anything we should always figure out what inspires you and what you’re passionate and knowledge about.

  4. Am I the only one that doesn't see the link to the other channels that get mentioned at the end of the videos? Hunt tv, Money tv, rtc.

  5. Most business owners started as an employee. For you to be a successful entrepreneur, you need to work harder on yourself than on your job. You need to find time to do what you love and be passionate about it. Thanks for adding value.

  6. Conflicting information, many self made millionaires say that you should project forward and work on it. That you should imagine yourself succesfull and un many cases rich, so I personally do think that one can become rich and succesfull on the idea alone of becomming a millionaire.

  7. I just can't get enough of this platform. Thank you guys for your great service. You opened my eyes. An am ready to take my next step.

  8. No I strongly disagree with this approach. It doesn't apply to all businesses.
    When I started my business 9 years ago, I was not passionate about it and never loved it, even up to this day, BUT I needed to achieve financial freedom period.
    All I ever needed was to be able to generate cashflow that was equal to or more than my living expenses so that I can stop working. That was the only reason why I started a business. I couldn't care less Wether I loved it or not. It doesn't make any sense to do something you love but doesn't make you money when you could something else not necessarily because you love it but because it makes you money.
    My business took a whole lot of work, I risked everything and it took longer than I anticipated but I finally smashed it however most of my friends who have been doing what they love are still making ends meet and the funny thing is, they keep telling me that do what you love and the money will follow.

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