Episode 202： 10 Signs You're A Terrible Entrepreneur
Episode Stats
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Summary
10 Signs That You May Not Be The Best Entrepreneur Yet. You may not be ready to be an Entrepreneur yet. In this episode, Patrick talks about the 10 signs that you are not ready to become an entrepreneur yet.
Transcript
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30 seconds. One time for the underdog. Ignition sequence start.
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Let me see you put them up. Reach the sky, turn the stars up above.
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Cause it's one time for the underdog. One time for the underdog.
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I'm Patrick Bedevi, host of IT Minute. Today I'm going to talk to you about 10 signs
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Let me give you the first one here that's going to stink.
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Maybe you're a terrible entrepreneur because you are full of shit is what you are.
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And let me explain to you what I mean by you're full of shit.
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Everything that comes out of your mind, you're trying to convince everybody how committed you are.
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You're trying to fool everybody to believe in you and no one believes you.
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Because even you don't believe yourself when you say stuff to other people.
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Of course you're not going to make it in the world of business.
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Maybe you ought to just go back and get a job. Let me give you the second one.
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You really think you're Steve Jobs or Elon Musk?
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You think Steve Jobs and Elon Musk came together and put their chromosomes together and boom!
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They created you and you're this perfect kid who's got all the greatest ideas and thoughts
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Do you know when you'll be considered Steve Jobs or Elon Musk?
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When other people say that about you, then it becomes a reality.
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You think you know everything just because you read seven books.
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You read a book over here on The Principles by Ray Dalio.
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You read some of these books and oh my gosh, I have a degree from this and you don't understand.
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When you have, there's certain things in life that don't come with a manual.
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There's a lot of curveballs that comes into place.
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So when you go in with the attitude of thinking you know it all, and all of a sudden you realize
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you don't, boom, you're wiped out of the business here.
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You don't even know how to handle your own money.
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Do you realize how much your brain is consumed with everything being made under panic management
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decisions because you're afraid, because your money issues are not right, and you're trying
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This isn't an idea about, let me go put everything I have on my credit cards and constantly build
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Believe me, I have that from experience, and it didn't work.
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I wasn't a real entrepreneur when I was calling myself an entrepreneur.
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Everybody that works for you, you think like they owe you everything.
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You're bossing a moron, and you're getting this whole boss hashtag idea, and you're putting
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You don't go out there and become an entrepreneur and call yourself a boss.
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I don't come to work and tell people what to do.
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They give me different things that we need to be doing, and I process issues with them,
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and we figure out ways to do something together.
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Do you think a business is going to be built without the people that are really building a
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But you think you're bossing everybody, everybody talking down at them and telling them all this
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other stuff like they're going to want to work for you long term?
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Let me give you the next one here, point number six.
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Like, you really think your idea is the greatest thing since sliced bread?
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At this point, here's one thing you've got to realize.
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Most ideas have already been thought of by somebody else.
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Like, you didn't have this aha moment, and you had all this stuff, and all of a sudden
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your idea came out, and your best friend sat down and said, oh my gosh, you're the most
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ridiculous guy that comes up with insane ideas.
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Implementation is half the battle of coming up with the idea.
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But your idea isn't as crazy as you think it is.
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Implementation and what you do afterwards on your execution could possibly validate that
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your idea is a decent idea, as long as there's a leader behind it to drive this great idea
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Some happen with President Trump and Kanye West that make America great again.
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All of a sudden, Kim Kardashian comes out with this picture she posts on Twitter.
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Everything is panic, panic, panic, panic, panic, panic, panic, panic.
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And you know what it is to work around somebody that's panicked all the time?
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It is very insane to be around somebody that constantly panics.
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The purpose of being an entrepreneur is you know how to hold it together.
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And then you gather thoughts and you figure out a way to have the solution to move forward.
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Next point here for you, number eight, you are constantly seeking this thing called work-life
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balance that doesn't exist and you want to call yourself an entrepreneur.
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It's like saying, hey, I really want to make it into the NBA, but dude, I want to play video
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games and kicking and sleeping all day, but I still want to get into the NBA.
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There is no such thing as work-life balance when you're trying to do something that a
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very small percentage of people in the world do.
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There's only a few hundred billionaires, you know, let's say 2,000 billionaires.
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Yes, there's millions of millionaires, but that millions of millionaires is one out of
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300, which means you really got to get out there and work.
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You can't be seeking work-life balance too early.
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This whole thing about wanting to have the lifestyle and the cars and the Ferraris and
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the Rolex and the jewelry and the looks too early, that is not the mindset of an entrepreneur.
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There is no such thing as quick money in business.
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Money takes a while, especially if it's a legitimate business that you're building.
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I've seen a lot of people make a lot of quick money, and I've seen a lot of people have a
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quick bankruptcy as well because they chase quick money.
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Typically, solid businesses takes a while to build because you got to go through a lot of
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issues, challenges, and as you're going through, that the real development of it is not the
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It's you, the leader, becoming a better leader, and the business keeps getting better and
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better and better as you become a stronger leader.
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And let me break it down how it is to be an entrepreneur.
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An entrepreneur doesn't wake up and say, I have to be right today because I have a degree
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However, when you're right that one time, and you really are right that one time, and
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you do it right for a few years that one time, that's when all of a sudden you get this big
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victory of a million, 10 million, 100 million, maybe a billion dollars for some people that
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are in a marketplace that's got a lot of opportunity to expand.
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So, now that you've heard 10 of them, have I hurt your feelings?
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Are you going to call your mom and say, this man named Patrick, David hurt my feelings.
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Well, listen, sometimes, someone like me, because your parents may not do it, because
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to your parents, you're the most incredible things on sliced bread, sometimes your spouse
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won't do it, although your wife may send you this video.
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If you got this from your boyfriend or girlfriend, they're trying to tell you something, just
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It's not like, oh, babe, I think you're going to like this.
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They're trying to tell you, babe, you got to get your act together because one of these
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But hopefully, you're not going to have an ego so big that no one can tell you that you have
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issues that you need to fix, because if you are in that area, you'll be like the 22, 23-year-old
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version of me, Patrick David, who lost everything he had, who had $49,000 of debt, and he thought
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he knew everything, and nothing worked his way, and I had to adjust.
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So I can save you a lot of years of stress, of lost money, and lost time if you are willing
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to take this message and internalize it and say, shoot, maybe I do need to make some adjustments.
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Thanks, everybody, for listening, and by the way, if you haven't already subscribed to
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Give us a five-star, write a review if you haven't already, and if you have any questions
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for me that you may have, you can always find me on Snapchat, Instagram, Facebook, or YouTube.
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Just search my name, Patrick David, and I actually do respond back when you snap me or send me