Get RICH in Your 20s: DON’T Start a Business

Summary

This video challenges the common belief that starting a business is the only path to wealth and freedom. The speaker shares personal experiences, emphasizing the importance of learning valuable skills like sales and marketing before venturing into entrepreneurship. They argue that gaining experience and building capital by working for others can set a stronger foundation for future success. The video offers a counter-intuitive approach to achieving financial goals, suggesting that focusing on personal growth and value creation is more sustainable than chasing quick riches through unproven business models.

Takeaways

• 🚀 Start with the right mindset: The script emphasizes the importance of not just jumping into entrepreneurship without the necessary skills and experience.
• 💡 Focus on learning skills: Building a foundation of valuable skills like sales and marketing is crucial for long-term success in business.
• 💰 Understand the risks: Starting a business from scratch involves financial risks, and it's important to be aware of the potential for loss.
• 🔄 Invest in yourself: Instead of investing in potentially risky business ventures, invest in your own skills and personal growth.
• 📈 Build capital gradually: Accumulate capital and experience by working for others before venturing out on your own.
• 🛠️ Master multiple skills: Success in business often requires proficiency in various areas such as sales, marketing, and fulfillment.
• 🔑 Become valuable: The speaker suggests that becoming valuable to others by mastering key skills is a sure path to success.
• 🔄 Consistent effort is key: There is no get-rich-quick scheme; consistent hard work and dedication are required to achieve success.
• 🌐 Leverage online opportunities: The script mentions working remotely and leveraging online platforms to gain experience and build wealth.
• 🤝 Find a mentor: Working closely with successful entrepreneurs can provide valuable mentorship and learning opportunities.
• 🏆 Long-term vision: Adopting a long-term mindset and focusing on becoming valuable rather than seeking immediate wealth is recommended.

Q & A

What is the main argument against starting a business right away to become an entrepreneur?

The main argument is that starting a business without experience and necessary skills can lead to financial struggles and prolonged periods of being broke. It's suggested that one should first learn relevant skills and gain experience.

What are some of the skills mentioned as essential for succeeding in a business?

Essential skills include sales, marketing, and fulfillment, among others. These skills are crucial for understanding and managing different aspects of a business.

Why is it risky to start a business with the expectation of getting rich quickly?

It's risky because most businesses require an initial investment and there's a constant risk of losing money. If one is not successful and continues to invest without seeing returns, they may eventually lose all their capital.

What is the alternative approach to building wealth and freedom suggested in the script?

The alternative approach is to first focus on learning a fundamental skill set, becoming valuable in the eyes of business owners, and working for them to gain experience and capital while setting up for long-term success.

Why is it important to work for someone else before starting your own business?

Working for someone else allows you to learn from their experience, understand the business model, and gain practical skills without the immediate financial risks associated with starting a business from scratch.

What is the significance of having a mentor in the business world according to the script?

Having a mentor is significant because they can provide guidance, share their knowledge, and help you navigate the challenges of the business world, which can be invaluable for someone looking to become an entrepreneur.

What is the role of sales in the context of the script's advice for aspiring entrepreneurs?

Sales is considered a fundamental skill that can be universally beneficial. Learning sales can help one become valuable to business owners, secure employment, and understand the customer acquisition process, which is crucial for any business.

How does the script suggest one should approach learning a new skill for business?

The script suggests focusing on one fundamental skill at a time, aligning it with personal interests and long-term goals, and then finding a business or mentor to work with to apply and refine that skill.

What is the potential downside of constantly chasing the 'next hot opportunity' without focusing on skill development?

The potential downside is that one may end up in a cycle of trying different businesses without gaining substantial skills or experience, leading to financial instability and a lack of long-term success.

How does the script define 'becoming valuable' in the context of business and entrepreneurship?

Becoming valuable is defined as acquiring and mastering skills that are in demand in the business world, such as sales and marketing, which can lead to better job opportunities, higher income, and a stronger foundation for entrepreneurship.

What mindset is the script advising against when it comes to business and wealth creation?

The script advises against a short-term, 'get rich quick' mindset that focuses solely on immediate financial gains without considering long-term skill development and sustainable business practices.

Outlines

00:00

🚀 The Pitfalls of Premature Entrepreneurship

The speaker challenges the common narrative that starting a business is the fastest route to wealth and freedom, especially for those in their 20s. They share personal experiences with various business ventures like dropshipping, affiliate marketing, and trading, which initially left them broke. The key takeaway is the importance of understanding that success in business requires a diverse skill set, including sales, marketing, and fulfillment, as well as capital investment. The speaker emphasizes that the allure of entrepreneurship can be deceptive, as it often involves significant risk and the potential for financial loss, which is not sustainable in the long term. They argue for a different approach to achieving financial freedom and success.

05:01

🛠 Building Value and Skills for Long-Term Success

In this paragraph, the speaker outlines a strategy for long-term wealth creation and business success, which involves focusing on learning fundamental skills and becoming valuable in the eyes of potential employers or business partners. They stress the importance of stepping away from the get-rich-quick mentality and instead investing in personal development. The speaker suggests that by mastering skills like sales or marketing, one can work for others, gain experience, and earn money while setting the stage for future entrepreneurial ventures. They also touch on the importance of having a mentor and the benefits of working closely with successful business owners to learn the ropes. The paragraph concludes with an invitation for viewers to join the speaker's community to learn sales skills and start on the path to financial freedom.

Keywords

💡Entrepreneur

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. In the video, the speaker challenges the common notion that starting one's own business is the only path to wealth and freedom, suggesting instead that gaining valuable skills and experience is crucial for long-term success.

💡Freedom

Freedom, in the context of the video, refers to the autonomy and flexibility that comes with being one's own boss and not being confined by traditional employment structures. The speaker emphasizes the importance of building a life of freedom through gaining skills and eventually becoming a business owner.

💡Drop Shipping

Drop shipping is a retail fulfillment method where a store does not keep the products it sells in stock but instead transfers the customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer. The speaker mentions it as one of the business models that people are often advised to start with, but warns of the potential pitfalls of entering such businesses without proper skills and experience.

💡Smma

Smma, likely a typographical error for 'SMMA' (Social Media Marketing Agency), refers to a business that provides social media marketing services to clients. The speaker uses it as an example of a business venture that they tried without success, highlighting the challenges of starting a business from scratch.

💡Affiliate Marketing

Affiliate marketing is a performance-based marketing strategy where a business rewards affiliates for each customer brought by the affiliate's own marketing efforts. The speaker mentions it as another business venture they attempted, emphasizing the difficulty of achieving success without the necessary skills and knowledge.

💡Skills

Skills, in the video, are the abilities and knowledge required to perform specific tasks or activities effectively. The speaker argues that mastering multiple skills such as sales, marketing, and fulfillment is essential for building a successful business and achieving financial freedom.

💡Investment

Investment, in this context, refers to the funds required to start and operate a business successfully. The speaker points out that most businesses need an initial investment for marketing and other operational costs, and the risk of losing this investment can be a barrier to success for inexperienced entrepreneurs.

💡Sales

Sales, in the video, is presented as a fundamental skill that can be valuable in various aspects of business and life. The speaker suggests that learning sales can lead to opportunities to work for business owners, gain experience, and eventually become a successful entrepreneur.

💡Marketing

Marketing is the process of promoting and selling products or services, including market research and advertising. The speaker mentions marketing as one of the essential skills that an entrepreneur should have and suggests that mastering it can lead to a successful career in business.

💡Fulfillment

Fulfillment, in the context of the video, refers to the process of ensuring that a customer receives the ordered product or service, which is a critical part of running a successful business. The speaker includes it as one of the multiple skills needed to operate a business effectively.

💡Mentor

A mentor is someone who imparts wisdom, knowledge, or guidance to less experienced individuals. In the video, the speaker suggests that by working closely with business owners and learning from them, one can gain valuable mentorship, which is crucial for personal and professional growth.

💡Remote Sales

Remote sales refer to the process of selling products or services over the internet or through other remote communication methods, without the need for a physical presence. The speaker promotes remote sales as a viable way to gain experience, build capital, and eventually transition into entrepreneurship.

💡Wealth Creation

Wealth creation is the process of generating and accumulating wealth, often through investment, business, or other financial means. The speaker argues that focusing on becoming valuable and learning skills is a more reliable path to wealth creation than starting a business without experience.

Highlights

The common belief that starting your own business is the only way to achieve wealth and freedom is challenged.

The speaker shares personal experience of struggling financially for three years while trying different business ventures.

The importance of understanding that success in business requires multiple skills such as sales, marketing, and fulfillment is emphasized.

Investment is often required to run a business successfully, which can be a risk for those starting from scratch.

The concept that a successful business should not require constant investment to maintain is introduced.

The idea that focusing on learning skills and becoming valuable is a more secure path to wealth creation is presented.

The speaker suggests that the best way to become a successful entrepreneur is by first gaining experience working for others.

Learning a fundamental skill such as sales or marketing is recommended as a starting point for building value.

Working for a business owner can provide both income and the opportunity to learn from a mentor.

The speaker shares a personal success story of making $5,000 a month at 21 by focusing on sales.

The strategy of focusing on one skill set within a company, rather than running the entire business, is highlighted.

Consistency and hard work are emphasized as necessary for success, rather than seeking a 'get rich quick' scheme.

The speaker warns against the mindset of needing immediate financial success, which can lead to poor long-term decisions.

The importance of building capital and shifting beliefs while working towards long-term goals is discussed.

The speaker encourages viewers to learn from his community and offers a link to join for learning sales skills.

The video concludes with a call to action for viewers to subscribe and engage with future content.

Transcripts

if your goal is to become an

entrepreneur and have your own business

and build a lot of freedom for yourself

and get rich in your 20s and you

probably hear everyone else online tell

you that the way to get there is to

start your own business you probably

believe the only way I can get to these

goals is I have to start my own business

in this video I'll explain to you why

that's the completely wrong way to think

about it and why thinking that way and

acting that way will keep you broke for

way longer than you than you need to and

I'm saying this to some of myself I did

this stuff for 3 years try to start

different businesses smma Drop Shipping

trading affiliate marketing and I I was

broke doing that for a long time and it

wasn't until I understood this concept

that I share with you in this video that

I was able to start making money online

and be able to actually build a life of

freedom and most importantly set myself

up to eventually become a business owner

and be able to build a life of full

Freedom you know and be able to get

really rich and make a lot of money and

have a lot of freedom essentially so the

first thing to understand is like

everyone online is telling you to do

Drop Shipping

smma all those like they're lying to you

cuz like the thing that they're telling

you they're telling you to just get into

it with zero experience and try to start

your own business from scratch and

they're telling you that you will be

able to get rich by doing that and you

see their testimonials you see people

that have made it doing that but the

thing that they don't tell you is like

for you to succeed with a business you

have to be really good first you have to

have multiple different skills you need

to know sales marketing fulfillment it's

multiple different things that you need

to learn Master to do any of those

different things and not only that but

it's also investment required to run

most businesses sucessfully you need to

have like marketing if you're doing for

example trading you have to put money

into it and you're constantly at the

risk of losing and the issue with that

if you're playing a game if you're in a

business or an opportunity where there

is a risk you know where like you can

potentially be losing if you keep doing

it that means that you can't keep

playing the game forever for example if

you do training every single time as

you're learning it you're losing out on

a bit of money or if you're trying to

learn like smma or trying to do like

content creation or trying to run like a

affiliate business whatever it is if

you're having to constantly invest money

into marketing to keep running the

business that means that the business is

not set up for you to succeed because if

you if you play it for a long time you

don't actually see success you'll end up

losing all the money that you have and

you can't keep playing the game so you

need to find a game that actually allows

you to keep playing regardless of the

result we can just keep playing without

having to put more money into it to keep

playing the game you know if you can

play games like that you would always

win so I'm talking about basically

getting to opportunity if you just keep

going you guarantee your success and

that's the thing with like getting

getting into business it seems super

attractive you know because you can you

see these people are entrepreneurs they

making all this money and are having all

this success and you think it's pretty

like attainable the thing you don't see

though is that those people have

multiple different skills they're really

valuable because they learn sales they

learn marketing they have the right way

of thinking they have the money to print

the business and if you're starting from

scratch right now you have to understand

that you need to focus on learning

skills becoming valuable shifting your

beliefs building capital and that is the

way you can secure your path to Building

Wealth at a very young age it's not

going to be what you want here it's not

going to be like the get rich quick or

like the next hot opportunity but it

will guarantee your path to get there so

how do you actually do this like what's

the best way to actually make this

happen what I did personally is focusing

on just learning one fundamental skill

you know you can never go wrong with

learning one skill something is going to

be valuable cuz then you you basic is

working on yourself you know you're

focusing on becoming someone that is

valuable you know if you're learning a

fundamental skill like for example sales

or learning marketing or any of those

things that is gu going to guarantee

that you will be valuable to other

business owners which means you can work

for them and make money while doing it

and Achieve freedom for

yourself and it's also going to set you

up for your long-term goals you know

because if you're learning sales if

you're learning marketing if you're

making money from working for a business

owner you are setting yourself up you're

shifting your beliefs and you're you're

learning as well from as business owner

by working closely with if you do it in

the right way then you will set yourself

up for being a business owner and being

entrepreneur in the future and it's

exactly what I teach inside of my group

as well so if you're interested in like

getting my help to actually make this

happen and like learn the skill of sales

being able to work remotely doing sales

and make your first 5k month able to

build a life and freedom you can click

the top Link in the description and join

the community where I actually help

multiple young guys do this exact same

thing and help you learn the skill get

into your first business and actually

start making money so you can start

building this freedom but back to the

point there is like you need to

understand that like the way to get rich

everyone is going to tell you that you

should start their business model you

know because they want to sell you this

course or whatever you know but the

thing is you need to realize that you

just need to become valuable if you just

become valuable if you learn skills that

are important in business then you will

guarantee your path to success but if

you keep playing these different games

and keep trying to start different

businesses and betting on like getting

en rich in the next 90 days you will you

will struggle you know maybe you pop off

maybe you have like a 1% chance of

succeeding if you want once in a while

but most likely what's going to happen

is you just keep playing the game hoping

to get rich and just lose out on your

money and that's not a good position to

be in as well because like the thing is

when you're constantly like hoping for

the thing that you're doing right now to

make money you're in a very shortterm

mindset if like the business model that

you're doing right now if you're like

relying on this to make ends me you know

if if my business doesn't make 5K this

month I'm going to be on the street you

know if you're operating from that

perspective

you're not going to be able to think

long term you're not going to be able to

succeed in the business because you're

just stressed and you're making

decisions from a very like scarce

mindset and like I have to make this

work or I'll be on the street and that's

never when you going to succeed and

that's where I was at when I was running

my agency at 2 and a half years ago

roughly I was doing that I was rning my

agency and I was like the money I was

making like I had to just push so hard

with agency I had to sign new clients

and I was like overwhelmed and I'm

working all these hours and I was like I

have to make this work there was no long

term like no passion to it no fun or

enjoyment in it whatsoever and I was

like all decisions was just like from

how can I make as much money as possible

in this moment and you will never

succeed like that because again you're

missing the core fundamental thing which

is you need to focus on becoming

valuable providing value to other people

that's going to allow you to make more

money not just by focusing on making

money from the business that you don't

actually understand from the first place

so okay I I'll give you a concrete plan

of how you actually can like implement

this first thing you need to do learn a

fundamental skill set again that's why I

teach my communities if you want to

learn this from me and learn sales from

me you can click the link and you're on

there you need to pick a skill that you

feel like is an alignment what your

interest are and what you want to be

able to uh like do in life in general

sales is probably the easiest place to

start like really whatever you want to

do in your life you're going to benefit

from knowing sales so that's if you

don't know what to do sales probably

need place to start you'll learn how to

communicate it's going to help you in

networking relationships and business a

lot and so if if you don't know sales

like that's probably where I start the

other options are like you can do

marketing maybe like copywriting or some

other things as well and then you just

find a business to work for you you

working with a online entrepreneur you

know you're working closely with someone

you can actually help solve that problem

you know solve the problem of sales or

marketing or whatever it is you know and

by doing that they're going to pay you

happily commissions to help them solve

that problem and most importantly you

will be able to learn from that Mentor

they cannot become your Mentor you know

so you can have Lally six seven eight

even nine figure per people that you

work with and you get ment bu because

you're able to solve one problem in your

business and get paid as well because

you're like as long as you're good as

long as you learn the skill set you be

able to get paid doing it and then you

just help them if you're in sales you

basically just take sales calls for them

and if you learn a skill set you can

take calls for them you make money you

can make your first 5 10K a month that's

how I did it at 21 years old very simple

you focus on one single skill you don't

have to run the business you basically

just focus on one single part of the

company and they already have everything

else in place and that's that's why it's

so simple and easy to get into again

it's simple it's easy compared to other

things it's not a get rich quick you

would have to be consistent show up put

in the work but if you're willing to put

it in it's by far the fastest path to

get there as well and um that's really

want strv you in this video is just like

realizing that everyone else telling you

that you should start your own business

realize that the thing you should focus

on is becoming valuable learning skills

and the best way to do that and the way

you can secure wealth creation secure

that you would actually get rich is by

focusing on getting a job that way

you're not dressed about money you can

be working a having a really good

lifestyle in a remote sales job for

example and stacking cash stacking

experience stacking knowledge all that

stuff and then while you're doing that

you can start eventually start running

your own like projects and starting your

own business and things that on the side

or in the future and that's going to

allow you to get to the long-term goals

of you have so that's it for the video

let me know in the comments your

thoughts questions things that subscribe

so you don't miss out on the future

videos cuz going to keep coming every

single day with the videos and so let me

know in the comments if there anything

like specific that you want to see in

the future videos about like remote

sales whatever it is like anything

specific I can explain to you so I can

give you H specifically like the the

guides and things that you guys want to

see and yeah that's it for now I'll see

you guys tomorrow in the next video take

care in the meantime and thanks for

watching ciao