Don't Start A Business Until You Watch This

Summary

The video script reveals the untold challenges of entrepreneurship, dispelling the myth of easy success and luxurious lifestyles often portrayed on social media. It emphasizes the reality of entrepreneurship as a tough journey filled with responsibility, pressure, self-improvement, lack of work-life balance, and perpetual impostor syndrome. The speaker shares personal experiences and insights, highlighting the need for hard work, self-discipline, and resilience. Despite the hardships, the script also acknowledges the potential for personal growth and the unique freedoms that entrepreneurship can offer.

Takeaways

• 🚀 Entrepreneurship is often portrayed as an easy path to wealth and luxury, but it has a dark side that is rarely discussed.
• 🤔 The reality of entrepreneurship is that it requires hard work, discipline, and mental preparedness for the challenges ahead.
• 🔓 Freedom in entrepreneurship comes at the cost of responsibility; you become the ultimate authority over your schedule and actions.
• 💎 Pressure is a constant companion in entrepreneurship, and how you handle it will significantly impact your success and personal well-being.
• 🌟 Business growth is often limited by the founder's weaknesses, making personal development a crucial aspect of entrepreneurship.
• 🛠️ Entrepreneurs must continually learn and acquire new skills to overcome obstacles and scale their businesses.
• 🔄 Work-life balance as traditionally understood does not exist for entrepreneurs; work becomes an integral part of life.
• 💡 Successful entrepreneurs focus on work-life control, deciding their own agenda and how they allocate their time and energy.
• 🎭 Impostor syndrome is a common experience among entrepreneurs, often accompanied by feelings of self-doubt and unworthiness.
• 🏆 Persistence and resilience are key to overcoming the challenges of entrepreneurship and achieving long-term success.

Q & A

What is the common misconception about entrepreneurship portrayed on social media platforms?

The common misconception is that everyone can easily become an entrepreneur, running a successful 7-figure business from home with minimal effort, just by managing a Drop Shipping Store, a social media marketing agency, or a YouTube channel for a few hours a week.

What does the speaker suggest is a reality of entrepreneurship that is often not discussed?

The speaker suggests that there is a dark side to entrepreneurship that is not often discussed, which includes the hardships and mental preparedness required to face the challenges of running a business.

How does the speaker describe their personal experience with entrepreneurship?

The speaker describes their personal experience as challenging, having faced difficulties such as a lack of self-discipline and the pressure of being responsible for all aspects of their business without external authority to guide them.

What is the first thing the speaker wishes they had known about entrepreneurship?

The first thing the speaker wishes they had known is that responsibility is the price of freedom, meaning that to have full control over one's life and schedule, one must be prepared to take on the burden of self-accountability and organizational structure.

What does the speaker mean when they say 'diamonds are forged by pressure'?

The phrase 'diamonds are forged by pressure' means that success and personal growth come from facing and overcoming challenges and pressures, much like how diamonds are formed under extreme pressure.

What is the biggest constraint in most businesses, according to the speaker?

According to the speaker, the biggest constraint in most businesses is the founder themselves. The founder's ability to identify and remove their own weaknesses is crucial for the growth and scaling of the business.

How does the speaker describe the concept of work-life balance for entrepreneurs?

The speaker describes the concept of work-life balance as non-existent for entrepreneurs. They explain that there is no separation between work and life, and that the work will always be present, following the entrepreneur everywhere.

What does the speaker suggest entrepreneurs should focus on instead of work-life balance?

The speaker suggests that entrepreneurs should focus on work-life control, which involves having the freedom to decide what, when, where, and with whom they work, rather than trying to achieve a traditional work-life balance.

What is the 'Perpetual impostor syndrome' mentioned by the speaker?

Perpetual impostor syndrome refers to the constant feeling of doubt and inadequacy that entrepreneurs may experience, as if they don't belong or aren't qualified for their level of success. The speaker suggests that this feeling is a sign of growth and pushing beyond one's comfort zone.

What is the main message the speaker wants to convey to aspiring entrepreneurs?

The main message is that entrepreneurship is a challenging journey with many downsides, but it also offers unparalleled opportunities for personal growth, freedom, and the ability to create a product that improves lives. Aspiring entrepreneurs should go into it with their eyes wide open, understanding the trade-offs and being prepared for the hardships.

How does the speaker describe the role of Skillshare in an entrepreneur's journey?

The speaker describes Skillshare as a valuable resource for entrepreneurs of all levels, offering a wide range of high-quality classes on various topics such as product design, copywriting, and business finance. Skillshare's learning paths are highlighted as particularly useful for structured skill development.

Outlines

00:00

🚀 The Dark Side of Entrepreneurship

This paragraph discusses the common misconception that entrepreneurship is an easy path to wealth and luxury. The speaker shares their personal experience, highlighting the reality that entrepreneurship requires hard work, discipline, and mental preparedness for the challenges ahead. They emphasize the importance of understanding the responsibilities that come with freedom and the need for self-accountability in setting and achieving personal goals.

05:00

💎 Growth Through Pressure: Entrepreneurial Challenges

The speaker elaborates on the relentless pressure that entrepreneurs face, from managing finances to meeting the expectations of employees and customers. They explain that success in entrepreneurship is often a result of handling this pressure effectively. The paragraph also touches on the idea that the founder is often the biggest constraint in a business's growth, and overcoming personal weaknesses is key to scaling the business.

10:02

🌟 Personal Development and the Entrepreneurial Journey

This section delves into the personal development aspect of entrepreneurship, where the founder must continuously learn and improve to remove bottlenecks in the business. The speaker recommends Skillshare as a valuable resource for learning various skills needed in entrepreneurship. They also introduce a special offer for the first 500 people to sign up using their link for a free one-month trial on Skillshare.

Keywords

💡Entrepreneurship

Entrepreneurship refers to the process of designing, launching, and running a startup or a new business venture. It involves innovation, risk-taking, and strategic management to create value. In the video, the speaker discusses the realities of entrepreneurship, highlighting both the opportunities and challenges faced by those who choose this path. The speaker's personal experiences and advice serve as a testament to the complex nature of entrepreneurship, emphasizing the need for hard work, resilience, and continuous learning.

💡Responsibility

Responsibility in the context of the video refers to the obligations and duties that an entrepreneur must undertake when running a business. It is the price of freedom, as the entrepreneur is the ultimate authority and must bear the consequences of their decisions. The speaker emphasizes that with entrepreneurship comes the need for self-discipline and accountability, as there is no one else to dictate what needs to be done.

💡Pressure

Pressure in the video denotes the stress and strain that entrepreneurs face due to the high stakes and expectations associated with running a business. This includes meeting payroll, managing vendor relationships, addressing customer issues, and dealing with the uncertainty and fear of not knowing what to do. The speaker describes this pressure as a constant, low-grade tension that can impact an entrepreneur's personal life and business decisions.

💡Personal Development

Personal development refers to the process of improving one's skills, abilities, and character traits through learning and experience. In entrepreneurship, it is crucial as the founder often needs to acquire a wide range of skills to manage and grow the business. The video highlights that entrepreneurship is a significant personal development program, as it forces the founder to continually identify and overcome their weaknesses to scale the business.

💡Work-Life Balance

Work-life balance refers to the equilibrium between an individual's professional responsibilities and personal life. The video emphasizes that entrepreneurs often face a lack of work-life balance, as their work and personal life become intertwined. The speaker suggests that entrepreneurs should focus on work-life control, where they have the autonomy to decide when, where, and how they work, rather than seeking a traditional separation between work and life.

💡Impostor Syndrome

Impostor syndrome is a psychological pattern where individuals doubt their accomplishments and have a persistent fear of being exposed as a 'fraud'. In the context of the video, the speaker explains that entrepreneurs often feel like they don't belong or aren't qualified for their success, despite their achievements. This feeling is common among high-achievers and is indicative of continuous growth and stepping out of one's comfort zone.

💡Freedom

Freedom in the video refers to the autonomy and independence that entrepreneurs have in making decisions for their businesses. It is a core motivation for many who choose entrepreneurship, as it allows them to be their own boss and set their own schedules. However, the speaker also highlights that this freedom comes with the responsibility of managing all aspects of the business without external guidance or authority.

💡Skillshare

Skillshare is an online learning community that offers a wide variety of courses for creative individuals. It is mentioned in the video as a resource for entrepreneurs to learn and develop the skills necessary for their businesses, such as product design, sales copywriting, and business finance. The platform provides structured learning paths that help users progress from novice to expert in various fields.

💡Growth

Growth in the context of the video refers to the expansion and improvement of both the entrepreneur's personal skills and their business. It is a continuous process that involves identifying weaknesses and working to overcome them. The speaker emphasizes that business growth is directly linked to the personal development of the founder, as the system will not scale beyond its biggest constraint, which is often the entrepreneur themselves.

💡Accountability

Accountability is the expectation for individuals to accept responsibility for their actions and decisions. In entrepreneurship, self-accountability is crucial as there is no external authority to enforce tasks or deadlines. The video highlights that entrepreneurs must hold themselves accountable for meeting their goals and maintaining structure in their work, which can be challenging without a traditional boss or supervisor.

💡Pivotal Constraints

Pivotal constraints are the main limiting factors that prevent a system from scaling or improving. In the context of entrepreneurship, the video suggests that the founder is often the biggest constraint on business growth. Identifying and addressing these constraints is a critical part of the entrepreneurial journey, as it allows for the expansion and success of the business.

Highlights

Entrepreneurship is often portrayed as an easy path to wealth and luxury, but the reality is much more complex and challenging.

The internet provides an unprecedented opportunity for anyone to become an entrepreneur, but it requires hard work and a long-term commitment.

The dark side of entrepreneurship is often not discussed, including the mental preparedness required to handle the hardships.

Responsibility is the price of freedom, and entrepreneurs must be self-disciplined to succeed.

Entrepreneurs often face pressure from all directions, including employees, vendors, and customers, with no one to turn to for help.

Entrepreneurs are the biggest constraint in their businesses, and must continually improve to scale their systems.

Skillshare is a valuable resource for entrepreneurs to learn a wide range of skills necessary for business success.

Work-life balance as traditionally understood does not exist for entrepreneurs, as work becomes an integral part of life.

Successful entrepreneurs focus on work-life control rather than work-life balance, deciding their own schedules and activities.

Impostor syndrome is a common experience among entrepreneurs, who often feel they don't belong or aren't qualified for their success.

Persistence and resilience are key to overcoming the challenges and feeling of impostor syndrome in entrepreneurship.

Entrepreneurship is a journey of personal growth and development, where the founder must continually learn and adapt.

Entrepreneurs must build a product they love and serve a market they are passionate about, as their work will consume much of their life.

The secret to success in entrepreneurship is to start and persist, despite the odds and the feeling of not belonging.

Entrepreneurship is a trade-off between control over one's life and the challenges of managing a business without external guidance.

Transcripts

if you scroll Instagram YouTube or Tik

Tok for more than 30 seconds you're

quickly going to get the impression that

everybody in their mom is an

entrepreneur running a 7 figure business

from the comfort of their basement these

gurus will lead you to believe that you

too can get rich you can drive fancy

cars and live in outrageous mansions and

all you got to do is spend 5 hours a

week on your Drop Shipping Store or your

social media marketing agency or your

YouTube channel now in my experience yes

there has never been a better time in

the history of mankind to be an

entrepreneur and yes I believe that if

you do the hard work on a long enough

time frame that practically anybody can

take advantage of this incredible

opportunity afforded To Us by the

internet and you can do it to make a

whole lot of money but here's the truth

there's a dark side to this game of

Entrepreneurship that nobody really

talks about and if you're not mentally

prepared for the hardships you'll face

then this game of business is going to

chew you up and spit you out and I know

this from firsthand experience because

that's what the game almost did to me

nearly a decade ago when I started on my

entrepreneurial Journey now if you're

going to step into this world which I

hope you do just do it with your eyes

wide open so here are five things I wish

I had known before becoming an

entrepreneur five things that I actually

hate about entrepreneurships these are

five things YouTube gur like me we

rarely talk about number one

responsibility is the price of Freedom

we can blame it on my ADHD but here's

the thing I hate being told what to do

anytime somebody says I have to do

something I turn into this defiant

little boy and I go out of my way to

prove them wrong now this is not

necessarily a healthy behavior and it

shows up in these tiny ways that I'm

really not proud of for instance when my

partner Jamie and I were driving

somewhere and she's playing navigator

from the passenger seat she knows that I

don't respond well to the instruction

you need to take a left in 200 ft so

instead she says you might want to take

a left in 200 ft now I know you probably

hear that and you're like what the hell

is wrong with you Anthony what's the big

deal but trust me I am way better about

this now than I was 15 years ago see

back in my 20s it was impossible to tell

me what to do I rebelled against any

type of external Authority or

accountability which is why I was fired

over 15 times before I even graduated

college now in many ways this is what

led me to entrepreneurship I love the

idea of being the one that owns my

schedule of being the ultimate Authority

who decides what I do and when I do it

but what I didn't realize is that you

need to be careful what you wish for

because just like the dog who catches

the car once I ultimately was the one

responsible for organizing structuring

and directing my life I had no clue what

to do next cuz not only do I Buck

against external Authority but at the

beginning of my entrepreneurial journey

I also resisted my internal Authority

see I simply lacked the self-discipline

to hold myself accountable to the

actions I told myself I would do so I'd

create these elaborate schedules and

well-intentioned plans of being

productive but then you know when the

alarm went off in the morning and I

didn't really need to get up and get to

work because nobody was going to yell at

me or notice that I wasn't there then

more often than not I just I would stay

in bed that little bit longer and this

wasn't just a problem in getting out of

bed it was literally everywhere I take

these three-hour lunch breaks and I'd go

down these YouTube rabbit holes which I

justify as research but at the end of

the day I just wasn't doing the things I

said I would and it turns out I was a

really lenient boss when it came to

holding myself accountable to the things

I said I would do now the game of

Entrepreneurship has continually

reinforced this simple lesson that

responsibility is the price of Freedom

which simply means that if you want to

be in full control of your life of your

schedule if you want to be the one

that's calling the shots then you have

to accept that nobody is going to come

and save you or tell you what to do next

it all falls on you to create and

maintain structure in your life which

sounds easy until you're staring at a

wide open calendar and a buddy pings you

in the middle of the day and he's like

you want to hang out and because there's

nobody telling you that you have to get

your work done right now you figure yeah

I can finish this up later this right

here is one of the hardest lessons every

entrepreneur has to learn for themselves

so good luck figuring it out all right

now here's the second thing I wish I had

known before becoming an entrepreneur

diamonds are forged by pressure this

actually is just extension of that first

lesson but it's so damn important it's

worth drilling down into just a little

bit deeper nobody is coming to save you

in fact everybody is going to be looking

to you to save them your employees will

come to you expecting a weekly paycheck

regardless of how the business is

performing your vendors are going to

come to you with invoices that need to

be paid right now and your customers are

going to come to you with problems

entirely outside of your control and all

the while you're going to be thinking I

don't know what I'm doing I don't have a

clue what I'm doing and you're going to

feel this in the form of a lowgrade

constant pressure that res Ides right

here in your temple or right here in

your gut and this pressure is only ever

going to get worse as you grow and you

become more successful and you realize

more and more people and their families

are relying on you to not screw things

up some people can handle this pressure

most can't but how you handle this

pressure is going to dictate how quickly

you go bald or how quickly you go out of

business and this leads us to the third

thing I wish I had known before becoming

an entrepreneur you are always the

problem the further you go on your

entrepreneurial Journey the more you're

going to be reminded of a simple truth

a system will never scale Beyond its

biggest constraint in almost all cases

the biggest constraint in any business

it's you the founder so growing a

business is really nothing more than the

continual process of identifying and

removing your biggest weakness over and

over and over again until you get to the

point where you're no longer necessary

to the operations of the machine now my

favorite thing about entrepreneurship is

that it's the greatest personal

development program in the world but

beware it literally only ever ends when

you get out

so understand this the secret to

building a 78 or 9 fig business is first

building the skills of a 78 or 9 figure

entrepreneur in the beginning you need

to learn all sorts of skills because

you're more or less the one that's going

to be doing them all you're going to be

the one designing the products building

the landing pages writing the sales copy

and handling all the finances and

truthfully at times it can feel pretty

overwhelming one of the questions I

always get is where do I actually go to

learn these things well you could spend

a fortune on coaching and Consultants

but one of my my favorite resources for

entrepreneurs of all levels is actually

the sponsor of today's video skillshare

skillshare is the largest online

learning community for creatives and it

blows my mind just how many high quality

classes are available over there

seriously if you want to learn product

design so you can create products your

customers actually love they got you if

you want to learn how to build a landing

page that actually converts an audience

into customers they got that too or how

about learning you know how to write

persuasive sales copy or handle your

business finances yeah they got all that

too they've got classes on pretty much

any topic you could ever want with the

exception of underwater basket weaving

which uh I checked Unfortunately they

don't have that yet but the thing I love

about skillshare is how they organize

the information see skillshare has a

number of learning paths that they've

designed to help take you from novice to

Pro and practically any skill in no time

these learning paths are handpick

classes laid out in sequential order

they build on one another to help you

quickly level up and build proficiency

they have learning paths on all sorts of

topics ranging from design copywriting

and productivity in fact I recently went

through the master your productivity

learning path with the master himself

Ali abdal and I learned a few tricks on

how to build a dashboard for my life

using notion it was awesome so to help

you invest in yourself in this next year

and take your business to that next

level I've worked out with skillshare a

deal so that the first 500 people to use

my link will get a free one-month trial

I'll drop that link in the description

below but again it's only for the first

500 people so don't delay now here's the

thing it's a free trial so you can

cancel at any time you have absolutely

nothing to lose so give it a try get

over there all right now now that you're

leveling up your skills let's talk about

the fourth thing I wish I'd known before

starting a business zero work life

balance you can go ahead and erase this

concept from your mind right now as an

entrepreneur it no longer applies there

is no distinction between your work and

your life they will melt and blend right

into one another to become a singular

thing you don't get to punch the clock

at the end of the day if there's a

deadline coming up and the work isn't

done yet guess who's sticking around and

working around the clock to get it done

that's right it's you but here's the

hardest part the work is going to follow

you everywhere there's no escaping it

resistance is futile so you might as

well stop trying right now the work will

always be sitting in the back of your

mind because as an entrepreneur there's

always going to be more to do there is

an open cognitive Loop occupying Prime

real estate in your brain every hour of

every day and it only ever closes the

day you sell your business or shut it

down now because of this I am a firm

believer that you need to build a

product you absolutely love for people

that you love serving if it's going to

dominate your mind it might as well be

something you love thinking about but

this is easier said than done and the

truth is this right here is enough to

break most entrepreneurs they need more

stability and balance in their life they

want the ability to shut it all off at

some point and there's nothing wrong

with that it's just you know Different

Strokes for different folks but what I

found is that instead of focusing on

what you're giving up that is work life

balance and the fact that the work is

going to follow you practically

everywhere the most successful

entrepreneurs I know they instead they

focus on what they're getting in this

equation which is work life control this

means instead of having somebody tell

you where to be and what to do every day

you decide what you want to do when you

want to do it where you want to do it

and with whom you want to do it now

referring back to the first point that

started this video this can either be a

blessing or a curse depending on how you

manage your schedule so again this life

of Entrepreneurship it's all about

trade-offs so just be certain you know

what you're getting and what you're

giving up and this leads us then to the

fifth thing I wish I had known before

becoming an entrepreneur Perpetual

impostor syndrome I've yet to meet an

Uber successful business owner who has

all figured out hell I've yet to meet

anyone who has it even remotely figured

out truth is most successful people

didn't get to where they are because

they knew what they were doing was

because they were too stupid to quit now

when I say stupid I don't mean they're

actually stupid people though a lot of

them actually are what I mean is they

found themselves in situations where by

all accounts the chips were stacked

against them and the probability of

success was practically zero and The

Logical move would have been to just

pack it up go home and get a job but

they didn't they defied the odds and

they persisted and once you know it they

eventually found success

now of course not everybody wins the

game of Entrepreneurship in fact most

fail but there's one thing all the

winners have in common they understood

the secret of success which is that you

can't win if you don't start and you

can't lose if you don't quit and despite

all the trials and tribulations they fac

they found a way to stay in the game and

keep playing long enough that they

eventually found success but that

doesn't mean they ever felt as though

they belonged in the first place in fact

most of the time they feel the exact

opposite if you go down this path of

Entrepreneurship there will come moments

when you question yourself you will

question what you were doing and how the

hell you got here because this game it

requires you to continually solve

problems you have no clue how to solve

but because nobody is coming to save you

and it all falls on your shoulders to

figure it out you must keep moving

forward the best you can while putting

on a brave face to the world so nobody

can see just how badly you're freaking

out on the inside and this means that as

an entrepreneur you will live more or

less in a Perpetual state of impostor

syndrome like at any moment the adulting

police are going to figure out that you

don't belong here and they're going to

come kick you out of the game but here's

the truth and I hope it brings you

comfort on your journey if you don't

ever feel like an imposter it's probably

because you've stopped growing you've

stopped reaching for goals beyond your

current capacity you stop stepping into

rooms with people who are operating just

beyond your level you stop trying to do

things that you've never done before if

you never want to feel like an impostor

then get out of the game let somebody

else take your place so you can sit safe

and secure the stands where nobody will

ever judge you or laugh at you or try to

sue you but the trade-off is that you're

not actually in the game you're not

challenging yourself you're not growing

you're not seeing what you're capable of

the cure for impostor syndrome is to

stop striving but in my opinion that

cure is worse than the disease now

despite all the downsides in my book

there's nothing better than being in the

game and having control over your life

of building a product that improves

lives and building teams that can make

ideas into a reality

entrepreneurship is the best vehicle I

found for doing just that it's not an

easy road but for a certain type of

person it's the only one just make sure

you go in with eyes wide open and I'll

see you in the next video yo what's up

guys I hope you got a ton of value from

the video once again I want to thank the

sponsor of today's video skillshare

remember the first 500 people get a one

Monon free trial I'll put the link down

in the description below also we're

going to be launching our beyond the

Apex Community any day now this is for

entrepreneurs wanting to maximize their

return on life you can go and apply to

join the community at beyond the

apex.com let us know about your business

and we'll see if it's a good fit and

I'll see you guys in the next

[Music]

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