so in the world of box and if an
opponent knows what to anticipate from
his opponent he has an edge in a war if
a country facing another enemy can
anticipate which side that enemy is
going to attack from this person has an
edge if you the entrepreneur can
anticipate what you are guaranteed to
face in the world of business you have
an edge so my goal today is to give you
an edge over everybody else who doesn’t
watch this video and you’re smart
watching this value to me but you’re
here with me so 10 challenges every
entrepreneur will face number one you’ve
got to learn the 9 to 5 sacrificing your
salary that is the challenge you’re
going to face let me tell when you go
from having a salary that’s coming in
it’s warm it’s fuzzy it’s a nice
comfortable pillow you got benefits you
got all this stuff in Asia I’ma be an
entrepreneur you have to sacrifice your
salary benefits health insurance no
matter what income worst case Center
you’re going to make your 5 grand a
month worst case and you’re going to
make your 8 grand a month that is out
the window you will have to anticipate
this afternoon next is is your your
capital management what do I mean by
capital management time clock on how
much you state and what your expenses
are you’re going to hear it constantly
tick tock tick tock tick top the way you
manage your capital will allow you to
stay in business long enough to make it
as a business owner if you know how to
manage your capital properly it doesn’t
matter if your real estate agent if
you’re a technology company out of
Silicon Valley or if you’re running a
liquor store you will need to know how
to manage your capital yourself to
stretch it as long as possible next
processing issue this looks pretty bad
look actually this looks like a horror
movie right here Luis this looks pretty
intense it says solve for X let me tell
you what that that is you will have to
process many unknown issues that you’ve
never experienced before you’ve never
experienced before how do you do this I
don’t know how to work this sorry I
don’t know how to handle this issue
before I never know I needed this
insurance policy to be able to do this
event at a hotel
I never knew my requirements to be able
to get at least in a building was this
that I have to spend another $7,000
I never know I need to do this other
part that’s going to cost me $17,000 how
come nobody told me about that stuff
before anticipation it’s going to happen
so if you don’t know how to solve for X
these these situations you’re going to
go in you can have a hard time with it
but you need to anticipate there will be
many issues unknown issues they need to
solve that no one else is going to
prepare you for next your team-building
how are you going to put a team together
how good of a recruit are you going to
be how good are you at bringing solid
talent operations systems sales
technology compliance how are you going
to do that how what are you going to do
that team building you will face that
challenge where you’re going to realize
you can’t do it all and it come down to
how will you build a team next vision
casting a vision that others want to
belong to casting a vision where I want
to be a part of you constant cast a
vision that I can be a part of it a year
three years five years ten years twenty
years down the line and my own selfish
goals in the desires can become a
reality based on the effort I want to
put in but based on the vision you keep
casting that everybody around you belief
because you keep getting closer and
closer and closer to that vision if you
cannot catch the vision you’re going to
lose the best type of talent if you
don’t know how to cast a vision next you
will be lonely I put a song here only
the lonely you will be lonely there will
be many lonely nights there will be many
days where you’re going to sit there
while yourself saying I don’t really
know if this we’re going to work out
there will be many days you have no one
no one to call no family no friend no
girlfriend no no husband or wife no mom
grandma or grandpa no one for you to
call because you can’t complain to any
of them because you decided to become an
entrepreneur they never forced you to
become an entrepreneur you decided so
you call them the last thing you want to
hear is what I told you not to do it
give me a tough phone call so there’s
going to be many lonely nights lonely
mornings lonely decision-making process
lonely Sunday’s lonely Saturday’s next
tax and lawyers you are now paying taxes
on a new coat as an entrepreneur you
will need a CPA that knows how to
transition you from w-2 to being an
entrepreneur you will need lawyers to
protect you from business
how do i structure the company LLC C
Corp S Corp you know is this a limited
liability partnership how am I going to
am I doing a real estate partnership
with a group of how am i setting this up
you’re going to need lawyers and taxes
which means you’re going to speak to
CPAs and lawyers in ways you probably
never dealt before and they’re going to
tell you some stuff you’ve never heard
before where in many cases you’re going
to sit that act like you know what
you’re talking about but you have no
clue what they’re saying and you kind of
don’t want them to think that you don’t
know because they’ll charge you more but
you need to ask I don’t understand can
you please explain this to me
you will face it that’s inevitable next
you will wear many different hats you’re
just going to you’re going to be a sales
for someone you’re going to clean the
room one day one day no one’s clean the
kitchen you got to do it no one’s
putting the stuff in the files you got
to do it you got to answer the phone
sometimes you got to get back to a text
that you probably shouldn’t be getting
back to as a CEO but you need to because
you learn many different hats you’re
going to do design you’re going to do
what the website looks like you make the
social media you make to the posting no
one knows this because you’re wearing
many different hats and you’re going to
have to go through it as a person who
starts a business next I’m gonna knock
you out you know what this is you can
deal with people that want to put you
out of business and you’re going to say
how brutal is this you can’t be this
cold it’s the world of business you’re
taking piece of business away from them
they want to put you out of business so
you’re going to have a lot of
competition that are going to do
whatever they can think that they can
put you out of the business next one
here is a lifestyle change this is
difficult for a lot of people let me
explain you’re accustomed to going out
on Friday nights and Saturday night and
Thursday night ladies night and maybe
sleeping in a little bit and maybe
working five o’clock you come home you
watch all the games all the playoff
games all the soccer matches all the
football games you get every one of
those things because it’s your lifestyle
your boys call you on Friday night
because you have this one spot you go to
Saturday night it’s your favorite three
languages that you go to Sunday you have
a spot you go to from 8 o’clock to 1
o’clock in the morning go to sleep by
1:30 so you can get some rest to wake up
at 7 o’clock in the morning you have all
your spots that you do let me prepare
you all this is going to change your
relationship with some of your friends
is going to change your daily habit is
going to change some of the people were
hanging out with before it’s going to
change some of the places to go to
before it’s going to change generally
this most people cannot handle because
they want to they want to win big as an
entrepreneur and become a hero on
celebrity and all this stuff but you
want to keep this lifestyle so it’s
almost like they’re not letting go of
this to go get this you have to let go
the lifestyle and if you can’t let go
this lifestyle if you cannot wear
multiple hats if you cannot understand
that competition is going to want to put
you out of business if you don’t pay
attention to tax on law
if you don’t realize you’re going to be
lonely if you don’t count the caste
division build a team process issues
know that you don’t have a lot of time
off with the savings that you have the
capital of that ship and the fact that
you need to eventually sacrifice your
salary the cushion the warm fuzzy
feeling of a steady salary coming in
you’re going to have a very hard time as
an entrepreneur and I highly recommend
it
you don’t do anything to become an
entrepreneur you stay as an employee so
with that being said these are the 10
things every entrepreneur will face
these 10 challenges every entrepreneur
will face and if you haven’t already
subscribed to this channel be sure to
subscribe to this channel click on the
button here and click on the over to be
one of the first to receive the videos
and be part of the notification squad
and if you got any other challenges that
I did not mention in this video today
comment on the bottom and share with us
your challenges and if you’re facing any
of these challenges right now let us
know which challenge you’re currently in
as an author take everybody by
[Music] you
opponent knows what to anticipate from
his opponent he has an edge in a war if
a country facing another enemy can
anticipate which side that enemy is
going to attack from this person has an
edge if you the entrepreneur can
anticipate what you are guaranteed to
face in the world of business you have
an edge so my goal today is to give you
an edge over everybody else who doesn’t
watch this video and you’re smart
watching this value to me but you’re
here with me so 10 challenges every
entrepreneur will face number one you’ve
got to learn the 9 to 5 sacrificing your
salary that is the challenge you’re
going to face let me tell when you go
from having a salary that’s coming in
it’s warm it’s fuzzy it’s a nice
comfortable pillow you got benefits you
got all this stuff in Asia I’ma be an
entrepreneur you have to sacrifice your
salary benefits health insurance no
matter what income worst case Center
you’re going to make your 5 grand a
month worst case and you’re going to
make your 8 grand a month that is out
the window you will have to anticipate
this afternoon next is is your your
capital management what do I mean by
capital management time clock on how
much you state and what your expenses
are you’re going to hear it constantly
tick tock tick tock tick top the way you
manage your capital will allow you to
stay in business long enough to make it
as a business owner if you know how to
manage your capital properly it doesn’t
matter if your real estate agent if
you’re a technology company out of
Silicon Valley or if you’re running a
liquor store you will need to know how
to manage your capital yourself to
stretch it as long as possible next
processing issue this looks pretty bad
look actually this looks like a horror
movie right here Luis this looks pretty
intense it says solve for X let me tell
you what that that is you will have to
process many unknown issues that you’ve
never experienced before you’ve never
experienced before how do you do this I
don’t know how to work this sorry I
don’t know how to handle this issue
before I never know I needed this
insurance policy to be able to do this
event at a hotel
I never knew my requirements to be able
to get at least in a building was this
that I have to spend another $7,000
I never know I need to do this other
part that’s going to cost me $17,000 how
come nobody told me about that stuff
before anticipation it’s going to happen
so if you don’t know how to solve for X
these these situations you’re going to
go in you can have a hard time with it
but you need to anticipate there will be
many issues unknown issues they need to
solve that no one else is going to
prepare you for next your team-building
how are you going to put a team together
how good of a recruit are you going to
be how good are you at bringing solid
talent operations systems sales
technology compliance how are you going
to do that how what are you going to do
that team building you will face that
challenge where you’re going to realize
you can’t do it all and it come down to
how will you build a team next vision
casting a vision that others want to
belong to casting a vision where I want
to be a part of you constant cast a
vision that I can be a part of it a year
three years five years ten years twenty
years down the line and my own selfish
goals in the desires can become a
reality based on the effort I want to
put in but based on the vision you keep
casting that everybody around you belief
because you keep getting closer and
closer and closer to that vision if you
cannot catch the vision you’re going to
lose the best type of talent if you
don’t know how to cast a vision next you
will be lonely I put a song here only
the lonely you will be lonely there will
be many lonely nights there will be many
days where you’re going to sit there
while yourself saying I don’t really
know if this we’re going to work out
there will be many days you have no one
no one to call no family no friend no
girlfriend no no husband or wife no mom
grandma or grandpa no one for you to
call because you can’t complain to any
of them because you decided to become an
entrepreneur they never forced you to
become an entrepreneur you decided so
you call them the last thing you want to
hear is what I told you not to do it
give me a tough phone call so there’s
going to be many lonely nights lonely
mornings lonely decision-making process
lonely Sunday’s lonely Saturday’s next
tax and lawyers you are now paying taxes
on a new coat as an entrepreneur you
will need a CPA that knows how to
transition you from w-2 to being an
entrepreneur you will need lawyers to
protect you from business
how do i structure the company LLC C
Corp S Corp you know is this a limited
liability partnership how am I going to
am I doing a real estate partnership
with a group of how am i setting this up
you’re going to need lawyers and taxes
which means you’re going to speak to
CPAs and lawyers in ways you probably
never dealt before and they’re going to
tell you some stuff you’ve never heard
before where in many cases you’re going
to sit that act like you know what
you’re talking about but you have no
clue what they’re saying and you kind of
don’t want them to think that you don’t
know because they’ll charge you more but
you need to ask I don’t understand can
you please explain this to me
you will face it that’s inevitable next
you will wear many different hats you’re
just going to you’re going to be a sales
for someone you’re going to clean the
room one day one day no one’s clean the
kitchen you got to do it no one’s
putting the stuff in the files you got
to do it you got to answer the phone
sometimes you got to get back to a text
that you probably shouldn’t be getting
back to as a CEO but you need to because
you learn many different hats you’re
going to do design you’re going to do
what the website looks like you make the
social media you make to the posting no
one knows this because you’re wearing
many different hats and you’re going to
have to go through it as a person who
starts a business next I’m gonna knock
you out you know what this is you can
deal with people that want to put you
out of business and you’re going to say
how brutal is this you can’t be this
cold it’s the world of business you’re
taking piece of business away from them
they want to put you out of business so
you’re going to have a lot of
competition that are going to do
whatever they can think that they can
put you out of the business next one
here is a lifestyle change this is
difficult for a lot of people let me
explain you’re accustomed to going out
on Friday nights and Saturday night and
Thursday night ladies night and maybe
sleeping in a little bit and maybe
working five o’clock you come home you
watch all the games all the playoff
games all the soccer matches all the
football games you get every one of
those things because it’s your lifestyle
your boys call you on Friday night
because you have this one spot you go to
Saturday night it’s your favorite three
languages that you go to Sunday you have
a spot you go to from 8 o’clock to 1
o’clock in the morning go to sleep by
1:30 so you can get some rest to wake up
at 7 o’clock in the morning you have all
your spots that you do let me prepare
you all this is going to change your
relationship with some of your friends
is going to change your daily habit is
going to change some of the people were
hanging out with before it’s going to
change some of the places to go to
before it’s going to change generally
this most people cannot handle because
they want to they want to win big as an
entrepreneur and become a hero on
celebrity and all this stuff but you
want to keep this lifestyle so it’s
almost like they’re not letting go of
this to go get this you have to let go
the lifestyle and if you can’t let go
this lifestyle if you cannot wear
multiple hats if you cannot understand
that competition is going to want to put
you out of business if you don’t pay
attention to tax on law
if you don’t realize you’re going to be
lonely if you don’t count the caste
division build a team process issues
know that you don’t have a lot of time
off with the savings that you have the
capital of that ship and the fact that
you need to eventually sacrifice your
salary the cushion the warm fuzzy
feeling of a steady salary coming in
you’re going to have a very hard time as
an entrepreneur and I highly recommend
it
you don’t do anything to become an
entrepreneur you stay as an employee so
with that being said these are the 10
things every entrepreneur will face
these 10 challenges every entrepreneur
will face and if you haven’t already
subscribed to this channel be sure to
subscribe to this channel click on the
button here and click on the over to be
one of the first to receive the videos
and be part of the notification squad
and if you got any other challenges that
I did not mention in this video today
comment on the bottom and share with us
your challenges and if you’re facing any
of these challenges right now let us
know which challenge you’re currently in
as an author take everybody by
[Music] you
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