Get RICH in Your 20s: DON’T Start a Business
Summary
TLDRThis 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
🚀 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.
🛠 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.
Mindmap
Keywords
💡Entrepreneur
💡Freedom
💡Drop Shipping
💡Smma
💡Affiliate Marketing
💡Skills
💡Investment
💡Sales
💡Marketing
💡Fulfillment
💡Mentor
💡Remote Sales
💡Wealth Creation
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
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