Is This a Common Mistake First-Time Entrepreneurs Make?
In this video, Matt reacts to this entrepreneur’s thoughts on what the biggest mistake many people make when starting a business. Is this something that he will agree with?
There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!
Video Transcript:
Business Advice Video:
The biggest mistake that entrepreneurs make is thinking it can’t get any worse. I’m not joking. It always gets worse. That is the biggest mistake to think that “oh it’s gonna be okay” and then like the cliff comes. And so being an entrepreneur, you have to have the grit, the tenacity, the determination to keep moving forward, even if you’re on the cliff standing into the abyss. And you know it’s only gonna get worse because it’s hard out there. It’s hard being an entrepreneur but there is also the thrill. The thrill of going up, the thrill of making that big deal, the thrill of that first sale, that second sale, and winning a big deal. Entrepreneurship has so much excitement, so if you’re willing to take that leap and you’re willing to take that risk, you’re willing to get on that ride, there’s incredible, incredible opportunity on the other side.
Matt:
I agree that having grit, and persistence, and determination are key things to being an entrepreneur. That counts more than where you went to school, or how smart you are, or how much money you’re starting with, or who your parents were, or what connections you have. None of those matter nearly as much as just that insane desire to see it through, to stick with it, to not give up and quit, and to make it work. But I don’t necessarily agree that entrepreneurs generally think it can’t get worse. There’s definitely some total optimist entrepreneurs out there always imagine that things are gonna be amazing and work out really well. I think you have to have a certain amount of optimism and even delusion to get into this, to kind of overlook the problems that you’re gonna run into. But I also don’t, I don’t run into people at least very often that think this is as bad as it’s gonna get. Anybody who’s been it for any amount of time realizes that there’s always another thing that can go wrong. And it usually seems to happen right after two other things have just gone wrong. That’s just another thing to get through, right, you look at hurdles and you say can I go over it? Can I go around it? Can I go under it? Can I go through it? And you keep going and then the next, the next hurdle comes, the next hurdle comes, the next hurdle comes, and that’s just how it goes. So I don’t know if people really worry about or think about this can’t get any worse. It can always get worse but also can be really amazing. And I think the thing is no matter what comes, you just keep going. And if you do that ultimately you will be successful.
