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The 7 MYTHS About Entrepreneurship – #7Ways


hello believe nation my name is Evan
Carmichael my one word is believe and I
believe that entrepreneurs will solve
all of the world’s major problems so to
help you on your journey today I’m going
to talk about the seven biggest myths
about entrepreneurship there’s so many
myths out there that are preventing
entrepreneurs from doing amazing amazing
amazing things and believing in their
ideas here are my seven myths that I
feel are holding back a lot of
entrepreneurs from chasing their dreams
and realizing their ultimate success
[Music]
myth number one is that you need money
to make money so many people don’t get
started in their business because they
feel like they don’t have enough money
they feel like they need tons of money
to start up to be able to build their
company their dreams you don’t need
money to make money it’s never about the
resources that you have it’s always
about your resourcefulness much more
important than thinking about what you
don’t have this is one of my favorite
quotes from Steve Wozniak don’t think
about what you don’t have rather think
about what you can do with what you do
have it’s the most important thing if
you are just focusing on the money you
don’t have the resources you don’t have
the education you don’t have the
contacts you don’t have the connections
you don’t have then you’re always
focused in this unresolved
you don’t have money that’s okay what
you do have is heart hustle desire
energy passion to go out and do
something amazing and so you want to be
resourceful use the resources you do
have and think about how you can build
something amazing from a practical point
of view how do we apply this well you
don’t need to go out and build something
super expensive we’re not in the 1900s
anymore you don’t need to have a factory
you don’t need to carry tons of
inventory you can start your business
with a Facebook page you don’t need to
carry inventory or products anymore
there’s a lot of print on demand
services you need to have a product yet
you can launch on places like
Kickstarter and see if your idea has
traction before you commit dollars to it
I hate spending money before and making
money and with all the tools the
technology that we have out there you
don’t need money to make money you need
the attitude of being
[Music]
myth number two is that entrepreneurs
are outgoing people a lot of
entrepreneurs are introverts I’m an
introvert I may not come out on these
videos because I’m always you know
outgoing and you may be yelling at the
camera and excited and animated talking
about entrepreneurship gets me fired up
it’s my passion it’s my fuel I didn’t
believe and I love seeing entrepreneurs
doing amazing things but I’m naturally
introverted I don’t talk to the guy next
to me on the airplane I don’t go and
introduce myself to people at events I’m
not the guy who loves going to new rooms
and meeting new people and is the energy
and the life of every party and a lot of
people aren’t a lot of super successful
entrepreneurs aren’t you just haven’t
heard of them and you haven’t heard of
him because that’s not how they win the
guys like Mark Cuban and Kevin O’Leary
and the big loud mouths the people who
are type-a personalities and yakking and
yelling and screaming and fighting they
do that because that’s what they’re
great at it’s what makes them come alive
it’s how they win but there’s lots of
people who you’ve never heard out for
built amazing companies who are
introverts and they win and what they’re
great at and so if you look at the list
of the wealthiest people in the world
and you take out the people who have
inherited wealth you look at who’s less
most of them are gonna be entrepreneurs
and a good chunk of those people you
have no idea who they are you’d have to
go up and look their names and look at
the companies they started because
they’re not winning by being outgoing
because it’s not who they are it’s so
much more important than being an
outgoing person is being true to who you
are you can win as an introvert if you
focus on the things that you are great
at if you are an introvert trying to be
an extrovert and trying to be outgoing
you’re guaranteed to lose so focus on
your own strengths
[Music]
myth number three is that you need to
start all-in there’s a lot of people who
believe that to start a company you have
to quit your job you’ve got to you know
go to your boss’s office and take a
flamethrower or mess up his desk and you
gotta burn all your bridges and the only
way to take the island is to burn the
boats and that’s definitely one way to
do it but it doesn’t have to be the way
that you start there’s tons of people
who’ve started their business part-time
in the evenings on the weekends and they
slowly built it up to the point that
when your own business is starting to
provide enough income for you to quit
your job maybe it’s not full-time income
maybe it’s not you know off buying
Lamborghinis but enough so you can pay
your bills you know you can pay the
internet bail you can pay your mortgage
you can get the food coming in internet
bills most important right we got to
have our internet then that’s when you
can quit your job and go all-in on your
company at least for me I like that
perspective I don’t I don’t need to have
the drastic approach it really depends
on your personality type it’s just like
if you want to quit smoking some people
the only way they can quit smoking is to
go pull turkey they just quit and that’s
it and they’re done some people they can
use Nicorette and they can use
alternatives and they can slowly go down
from three packs a day to 2 pack today
to one pack of data to cigarettes and
once again and then it’s gone and so
there’s different ways to approach it
but you definitely don’t need to start
all-in if that is your personality type
that you go all in or nothing then do it
but if it’s not your personality type
you don’t need to and you can definitely
ease your way into it what’s much more
important is that you’re taking
consistent action the challenge about
starting part time is there’s a lot of
stuff that gets in the way your work
gets in the way there’s family events
there’s other things that happen life
happens it’s finding time to spend and
dedicate to your business you need to
have at least half an hour to 60 minutes
every single day at least bare minimum
every day no matter what focus on
growing your business because the amount
that you can accomplish by continually
investing 30 to 60 minutes every single
day into your business you’ll be
surprised it doesn’t feel like a lot on
a daily basis but all those things add
up add up add up add up and that
momentum will continue to build a lot of
people just quit too soon and when they
go all-in off what happens is they run
out of money and then they’re back to
that job that they hate or if you start
part-time and slowly move in and you
take consistent daily
you have a higher chance of being
successful myth number four is
entrepreneurs are born there’s common
misconception that entrepreneurs are
born with this innate ability and genius
level talent to run billion-dollar
businesses at least that was my only
limiting belief I had this image of an
entrepreneur who’s like this crazy
genius that would build these amazing
things that will change the entire world
and I used to think to myself I’m not
born that way I’m not super creative
what makes me think I could have my own
business you know I can’t create their
time machine like what is that anyway
and that’s what held me back from
creating my own business and I had a lot
of conversations with myself since then
thinking about why am I even thinking
that way I had to change my mindset
around from entrepreneurs are born to
entrepreneurs can be made that’s when I
realized to myself that like most things
I had to learn it it took a lot of hard
work and perseverance but I eventually
learned that things that I wanted to
learn and by shifting that mindset I was
able to not only start my own business
I’m able to help others with their
businesses as well maybe I have an idea
that you want to share with the rest of
the world but you think that because
you’re not born that way you can’t do it
you need to shift your mindset instead
of thinking entrepreneurs are born no
entrepreneurs can be made
[Music]
myth number five is that you have to do
it all yourself this is another big
challenge the thing that holds a lot of
our trainers back is they feel they need
to do everything themselves they have to
do every single part of their business
themselves we’re the most successful
entrepreneurs you’ll find understand
their strengths and understand what they
suck at they understand what they don’t
want to be good at and they find people
to surround themselves with the first
person I hired for my team was to do one
hour a day of work he was doing database
work for me for one hour a day and that
freed up more than one hour of my time
did we will focus on bigger projects
things that I loved doing things that I
wanted to be best in the world that and
he loved doing database stuff so they
end up working out really well you don’t
have to hire somebody full-time but you
don’t have to make that jump and pay
somebody 40 50 60 $70,000 starting up
where you mean I have that cash as an
entrepreneur trying to get your business
going but you can get people for an hour
a day a couple hours a week I’ve had
high school and in college volunteer
interns work on my company and you have
to provide mentorship back to them but
it’s a lot of creative ways that you can
use to build up your business and as
soon as you can start handing off some
of the responsibilities whether it’s to
an intern or whether it’s to a part-time
worker it frees up your time to be
focused on the much bigger project and
you find a lot more stuff starts to
happen if you look at my youtube channel
when I did everything myself the max I
could do is one video a week and then as
I hired my first editor I moved to a
video a day and as I built up my team
we’ve got eight people now between full
and part-time just doing the YouTube
side of things I’m able to make three
videos a day for the channel and that’s
because I get the focus on what I love
doing being in front of the camera and
then also we’re viewing and doing the
strategy for every video that goes out
and everything else is delegated to the
people on my team and they all love
doing their roles in it as well and so
we’ll be massively able to increase our
output provide way more value to you
guys be a bigger company achieve bigger
goals because I realized that I don’t
want to do everything myself and if I
embrace that unable to accomplish a lot
more
[Music]
myth number six is that entrepreneurs
take huge risks there’s this common
perception to be an entrepreneur you
have to be a risk-taker
you have to throw everything in you’ve
got to go off and do these big crazy
scary things that nobody else is willing
to do and while it’s true that as an
entrepreneur we have to think
differently if you’re just doing the
same thing as everybody else you’re
gonna have an average to below average
business so you do have to think
differently you do have to bring in new
ideas but it doesn’t mean you have to
take huge risks it doesn’t mean you have
to take a mortgage out on your house and
take this huge loan out to launch your
company it doesn’t mean you have to do
something so dramatically different
that’s never ever been done before and
you’re lightyears ahead in your industry
you don’t have to take massive massive
risk business is about providing value
that’s the biggest thing if you are able
to provide value to your customers then
they will pay you for it if you can
solve a big problem for them then they
will pay you for it and a great way to
start is to think about your own
problems what challenges do you have
what you wish existed and then go out
and do that solve it for yourself and
you realize how there’s a lot of other
people who probably have the same
challenge if we think about a lot of the
videos on my channel it’s a top 10
series that you guys love it started
because I wanted it for me I wish it
somebody else created that series I
didn’t want to have to do the worker on
it I wanted to just be a consumer I was
tired of watching 8 to 10 hour long Elon
Musk you know videos of different
interviews and getting 10 to 20 minutes
of really good golden nuggets I thought
huh wouldn’t it be awesome if somebody
just put all that together and instead
of complaining right what I want yours
do we do it we solve it so I made it I
made it selfishly for myself I shared it
with you guys you guys loved it as well
and here’s the start of a successful
business so that’s how it starts you
don’t have to take a huge risk I already
had my website I had my other businesses
running while I started this this was a
part-time side project for me that as I
started getting more results the
momentum and more love and passion for
it and then started making a little bit
of money with it I poured it back in and
we built it up so if you have an idea
that you think will really solve a need
for people you can do it just start
small and fail small it’s not about
taking these massive big bold risks
that’s how some entrepreneurs go out and
do it it’s ok to have a really big
vision for what you want to do but the
important thing at least for me is I
believe you need to think big and act
small acts Malak small take consistent
action daily fail small fail small fail
small find something that works build
that bill to build a build a bill to
jump complete your big goal you don’t
need to take huge risks and finally myth
number seven is that you need to have
connections this is belief that to be an
entrepreneur you have to have
connections you have to have the right
family you have to have gone to the
right school you have to know the right
people to pull the right strings to get
your business off the ground and
especially in North America it’s just
not true look at the people who look up
to the most look at the people who build
amazing businesses chances are they
started already with less than what you
already have now they knew nobody and
they built their way up when I first
started my company I had no connections
I didn’t know anybody the first person I
went to was my banker and I walked in
and I said hey I’m Evan Carmichael
started this business how can you help I
I need help with my business how what
can you do for me and they said well do
you need a loan and I don’t know I don’t
think so I need I need help but I’m just
trying I’m just getting started I don’t
know what to do right so later realize
that’s not how you have a conversation
with a banker but that’s how little I
knew that’s how few connections I had I
just got started and that’s the story of
most successful entrepreneurs the people
surprisingly who are the most connected
who seem to have everything given to
them they have the connections and the
money and all of that they have it laid
out and gift it to them they’re born
with the silver spoon and everything is
easy for them those are never the guys
to go off and build the amazing
companies it just doesn’t happen the
children of the massively wealthy people
very rarely go out to build amazing
companies look at the list of the most
successful entrepreneurs and look at
where they came from is almost always
from really humble beginnings with very
few connections and so instead of
looking at that person say what’s so
easy for them it’s so easy to because of
all these connections don’t blame the
lack of connections that you have again
think about what you can do with what
you do have and use those success
stories whoever it is that you look up
to look at how they got started
look at how they went from 0 to 1 how
did they get started and again chances
are they had less than what you already
had right now they definitely have fewer
actions and opportunities and you have
right now in the age of social media
that you can go out and create something
amazing and connect with people so
quickly and so I don’t want that to be a
reason why you don’t want your dream
business so that’s my take on the seven
myths of entrepreneurship I hope you
guys enjoyed I’d also love to know what
did you think of the seven myths which
one most applied to your situation to
your business to your life also did I
miss an eight nine ten that you want to
include leave it down in the comments
below I’m really curious to see what you
guys have to say thank you again for
watching I believe in you I hope you
continue to believe in yourself and
whatever your one word is much love I’ll
see you soon if you had to think of one
word that’s most important to you or
that sums you up or so it would be like
a little beacon hey believe nation if
you want to know what the most important
one word is for Tony Robbins Gary
Vaynerchuk Oprah Winfrey will.i.am and
Howard Schultz I have a very special
secret video for you check the
description for details
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