Is this the Best Entrepreneur Advice?

In this next video, we look at what another entrepreneur would say to someone starting out. Will Matt agree? Do you agree?

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 new 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:

Uh if you had one piece of advice for young entrepreneurs, what would that be? 

So many people are scared to fail. It’s stupid. Like go for it. Like you just gotta go. If you sit there wondering like, is this gonna work? Should I do this? Like, what’s gonna happen if it doesn’t work? Like, keep asking what if you’re never gonna get anywhere in life. You just gotta go for it.

I’ll throw one more on there. You gotta get great people around you. Like one of my best skill sets is attracting like the right people to like learn from, grow from work together. So to me, it’s like, you know, my entire strategy is like, I’m gonna outwork everybody. I’m gonna have some pretty good common sense and I’m just gonna go for it with great people around me. And I think if you do those few things, I think your odds are pretty good.

Matt’s Reaction:

Okay. I would say that’s reasonably good advice. Definitely. Sitting on the sidelines is not going to get anything started, so you have to decide to go for it at some point. You want to hopefully have put enough thought into it that when you go for it, you know how much is at risk, and whatever’s at risk, you can afford to lose. Right. Go for it doesn’t mean put 30 grand on credit cards and hope that it’s going to work because if it doesn’t, that’s a pretty big fail. It’s one thing to say, don’t be scared to fail. It’s another thing to say, I now have $30,000 of credit card debt, and this isn’t working. So, yes, take action, but take smart action. Understand the risks, and understand how much you are going to lose potentially if it doesn’t work, and as long as that is an amount you’re okay with, then, yes, go for it. Definitely have good to have good people around you. And the one thing he said was his plan was to outwork everybody. Definitely consider hard work as part of the equation. You don’t get to be successful without putting in hard work. There’s no easy money, there’s no get rich quick, there’s no shortcuts. So plan to work hard, take the chance, know what’s at risk. Limit your risk by being smart about what you start in the first place, and then, yeah, go for it. And you probably won’t get it right the first time or the second time or the fourth time. But one of those times, if you keep trying, it’s going to work out and it’s going to all pay off in the end.