Valuetainment - Episode 202： 10 Signs You're A Terrible Entrepreneur

00:00:00.380 30 seconds. One time for the underdog. Ignition sequence start.

00:00:06.980 Let me see you put them up. Reach the sky, turn the stars up above.

00:00:11.100 Cause it's one time for the underdog. One time for the underdog.

00:00:17.300 I'm Patrick Bedevi, host of IT Minute. Today I'm going to talk to you about 10 signs

00:00:20.840 that you may not be the best entrepreneur yet.

00:00:23.800 Let me give you the first one here that's going to stink.

00:00:25.800 Maybe you're a terrible entrepreneur because you are full of shit is what you are.

00:00:30.140 And let me explain to you what I mean by you're full of shit.

00:00:31.980 Everything that comes out of your mind, you're trying to convince everybody how committed you are.

00:00:37.580 But you are not committed. You're full of it.

00:00:39.520 You're trying to fool everybody to believe in you and no one believes you.

00:00:43.240 Because even you don't believe yourself when you say stuff to other people.

00:00:46.420 Of course you're not going to make it in the world of business.

00:00:48.920 Maybe you ought to just go back and get a job. Let me give you the second one. 0.98

00:00:52.180 You really think you're Steve Jobs or Elon Musk?

00:00:54.760 You think Steve Jobs and Elon Musk came together and put their chromosomes together and boom!

00:00:59.600 They created you and you're this perfect kid who's got all the greatest ideas and thoughts

00:01:03.520 and no one's as smart as you are.

00:01:05.720 You're not Steve Jobs. You're not Elon Musk.

00:01:08.100 Do you know when you'll be considered Steve Jobs or Elon Musk?

00:01:10.840 Probably when you die.

00:01:12.240 Or maybe 10, 20 years from now.

00:01:13.880 It's going to take a very long time.

00:01:15.440 When other people say that about you, then it becomes a reality.

00:01:19.640 Let me give you the third one here.

00:01:21.080 You think you know everything.

00:01:22.180 You think you know everything just because you read seven books.

00:01:25.360 You read Blue Ocean Strategy.

00:01:26.680 You read Lean Startup.

00:01:28.420 You read a book over here on The Principles by Ray Dalio.

00:01:31.500 And you read Michael Porter Competitors.

00:01:33.180 You read some of these books and oh my gosh, I have a degree from this and you don't understand.

00:01:37.820 Listen, believe me, you don't know everything.

00:01:41.540 When you have, there's certain things in life that don't come with a manual.

00:01:44.780 Parenting is one of them.

00:01:46.080 Being an entrepreneur is another one.

00:01:47.660 There's a lot of curveballs that comes into place.

00:01:49.720 So when you go in with the attitude of thinking you know it all, and all of a sudden you realize

00:01:53.300 you don't, boom, you're wiped out of the business here.

00:01:55.680 Let me give you a fourth one.

00:01:56.680 You are terrible with money.

00:01:58.200 What do I mean by you're terrible with money?

00:02:00.180 You don't even know how to handle your own money.

00:02:02.000 Your expenses are not covered.

00:02:04.000 You're late on your cell phone bill.

00:02:06.040 You're late on your car bill.

00:02:07.680 You're late on everything.

00:02:08.700 Rent your later money.

00:02:09.740 You're late on everything you're doing.

00:02:12.000 And you're trying to be a business owner.

00:02:13.360 Do you realize how much your brain is consumed with everything being made under panic management

00:02:19.360 decisions because you're afraid, because your money issues are not right, and you're trying

00:02:23.220 to go build a business for yourself.

00:02:24.500 Those two don't go together.

00:02:26.000 This isn't an idea about, let me go put everything I have on my credit cards and constantly build

00:02:30.140 my business.

00:02:30.800 Believe me, I have that from experience, and it didn't work.

00:02:33.540 Those things don't work.

00:02:34.700 I wasn't a real entrepreneur when I was calling myself an entrepreneur.

00:02:37.860 And maybe you are not either.

00:02:39.060 Maybe you need an upgrade.

00:02:40.260 Let me give you the fifth one here.

00:02:41.480 You talk down to people.

00:02:42.980 Everybody that works for you, you think like they owe you everything.

00:02:46.560 You're bossing a moron, and you're getting this whole boss hashtag idea, and you're putting

00:02:50.960 Instagram boss as if you're a boss.

00:02:52.760 You're not a boss.

00:02:53.900 Bosses are not entrepreneurs.

00:02:55.340 Bosses are managers.

00:02:56.540 You don't go out there and become an entrepreneur and call yourself a boss.

00:02:59.720 You're not a boss.

00:03:00.960 An entrepreneur, everybody else is your boss.

00:03:03.520 Everybody tells you what to do.

00:03:05.120 I don't come to work and tell people what to do.

00:03:07.180 They tell me what to do.

00:03:08.300 They give me different things that we need to be doing, and I process issues with them,

00:03:12.200 and we figure out ways to do something together.

00:03:14.340 Do you think a business is going to be built without the people that are really building a

00:03:17.240 business?

00:03:17.860 Yes, you're the founder.

00:03:18.800 Yes, you could be the entrepreneur.

00:03:20.260 But you think you're bossing everybody, everybody talking down at them and telling them all this

00:03:23.640 other stuff like they're going to want to work for you long term?

00:03:25.740 It doesn't work that way.

00:03:27.220 Maybe you're not ready to be an entrepreneur.

00:03:28.840 You need an upgrade.

00:03:29.540 Let me give you the next one here, point number six.

00:03:31.360 You think your idea is unique.

00:03:33.080 Like, you really think your idea is the greatest thing since sliced bread?

00:03:37.560 At this point, here's one thing you've got to realize.

00:03:40.600 Most ideas have already been thought of by somebody else.

00:03:44.240 This is not the most ridiculous.

00:03:45.740 Like, you didn't have this aha moment, and you had all this stuff, and all of a sudden

00:03:48.380 your idea came out, and your best friend sat down and said, oh my gosh, you're the most

00:03:52.160 ridiculous guy that comes up with insane ideas.

00:03:54.440 Relax.

00:03:55.000 It's a good idea.

00:03:55.780 It's not a crazy idea.

00:03:57.420 Implementation is half the battle of coming up with the idea.

00:04:00.300 But your idea isn't as crazy as you think it is.

00:04:03.460 Implementation and what you do afterwards on your execution could possibly validate that

00:04:08.000 your idea is a decent idea, as long as there's a leader behind it to drive this great idea

00:04:13.400 of yours that you came up with.

00:04:14.940 Let me give you the next point here.

00:04:16.340 You panic very easily.

00:04:18.260 The slightest thing happens, you panic.

00:04:20.720 Some happen with President Trump and Kanye West that make America great again.

00:04:24.220 Oh my gosh, it's the end of the world.

00:04:26.680 All of a sudden, Kim Kardashian comes out with this picture she posts on Twitter.

00:04:31.380 Oh my goodness, did you see Kim Kardashian?

00:04:33.140 Did you see what happened over here?

00:04:34.700 Did you see what the market said?

00:04:36.160 Did you see what this person...

00:04:37.200 Everything to you is panicked.

00:04:38.300 Somebody quit.

00:04:38.840 Oh my gosh.

00:04:39.640 This person doesn't want to buy...

00:04:40.640 Everything is panic, panic, panic, panic, panic, panic, panic, panic.

00:04:43.100 And you know what it is to work around somebody that's panicked all the time?

00:04:48.320 It drives that person insane.

00:04:51.160 It is very insane to be around somebody that constantly panics.

00:04:56.680 The purpose of being an entrepreneur is you know how to hold it together.

00:05:00.720 Emotionally stable.

00:05:01.880 It's okay.

00:05:02.740 We'll figure it out.

00:05:03.780 Everything's going to be okay.

00:05:05.640 And then you gather thoughts and you figure out a way to have the solution to move forward.

00:05:09.240 Next point here for you, number eight, you are constantly seeking this thing called work-life

00:05:14.440 balance that doesn't exist and you want to call yourself an entrepreneur.

00:05:18.500 It's like saying, hey, I really want to make it into the NBA, but dude, I want to play video

00:05:24.080 games and kicking and sleeping all day, but I still want to get into the NBA.

00:05:27.940 It doesn't work that way.

00:05:29.320 There is no such thing as work-life balance when you're trying to do something that a

00:05:33.140 very small percentage of people in the world do.

00:05:35.560 There's only 500 people in the NBA.

00:05:37.400 It's not like a million people in the NBA.

00:05:39.740 There's only a few hundred billionaires, you know, let's say 2,000 billionaires.

00:05:43.520 It's not like it's a million billionaires.

00:05:45.660 Yes, there's millions of millionaires, but that millions of millionaires is one out of

00:05:49.360 300, which means you really got to get out there and work.

00:05:51.980 You can't be seeking work-life balance too early.

00:05:54.500 It doesn't work out that way.

00:05:55.840 This whole thing about wanting to have the lifestyle and the cars and the Ferraris and

00:05:59.560 the Rolex and the jewelry and the looks too early, that is not the mindset of an entrepreneur.

00:06:03.600 That comes later on, delayed gratification.

00:06:07.360 Number nine, you want quick money.

00:06:09.120 It doesn't work that way.

00:06:10.000 There is no such thing as quick money in business.

00:06:11.860 Money takes a while, especially if it's a legitimate business that you're building.

00:06:15.180 I've seen a lot of people make a lot of quick money, and I've seen a lot of people have a

00:06:19.100 quick bankruptcy as well because they chase quick money.

00:06:21.700 Those two don't go together.

00:06:23.120 Typically, solid businesses takes a while to build because you got to go through a lot of

00:06:27.900 issues, challenges, and as you're going through, that the real development of it is not the

00:06:32.060 business.

00:06:32.860 It's you, the leader, becoming a better leader, and the business keeps getting better and

00:06:36.120 better and better as you become a stronger leader.

00:06:38.200 The tenth one for you, you hate to be wrong.

00:06:42.160 And let me break it down how it is to be an entrepreneur.

00:06:45.400 An entrepreneur doesn't wake up and say, I have to be right today because I have a degree

00:06:49.860 and I better be right today.

00:06:52.100 It doesn't work that way.

00:06:53.640 You're wrong most of the time.

00:06:54.760 However, when you're right that one time, and you really are right that one time, and

00:06:59.620 you do it right for a few years that one time, that's when all of a sudden you get this big

00:07:03.760 victory of a million, 10 million, 100 million, maybe a billion dollars for some people that

00:07:08.160 are in a marketplace that's got a lot of opportunity to expand.

00:07:10.520 So, now that you've heard 10 of them, have I hurt your feelings?

00:07:13.960 Do you hate me right now?

00:07:15.180 Are you upset?

00:07:16.400 Are you going to call your mom and say, this man named Patrick, David hurt my feelings.

00:07:19.860 I don't like this man.

00:07:20.840 I used to like him.

00:07:21.620 I don't like him anymore.

00:07:22.360 Well, listen, sometimes, someone like me, because your parents may not do it, because

00:07:27.040 to your parents, you're the most incredible things on sliced bread, sometimes your spouse

00:07:30.860 won't do it, although your wife may send you this video.

00:07:33.860 If you got this from your boyfriend or girlfriend, they're trying to tell you something, just

00:07:37.640 so you know this.

00:07:38.340 It's not like, oh, babe, I think you're going to like this.

00:07:40.720 They're trying to tell you, babe, you got to get your act together because one of these

00:07:43.500 10 things is you.

00:07:45.080 But hopefully, you're not going to have an ego so big that no one can tell you that you have

00:07:50.060 issues that you need to fix, because if you are in that area, you'll be like the 22, 23-year-old

00:07:55.240 version of me, Patrick David, who lost everything he had, who had $49,000 of debt, and he thought

00:08:02.640 he knew everything, and nothing worked his way, and I had to adjust.

00:08:07.140 So I can save you a lot of years of stress, of lost money, and lost time if you are willing

00:08:13.600 to take this message and internalize it and say, shoot, maybe I do need to make some adjustments.

00:08:17.980 Thanks, everybody, for listening, and by the way, if you haven't already subscribed to

00:08:21.360 Valuetainment on iTunes, please do so.

00:08:24.220 Give us a five-star, write a review if you haven't already, and if you have any questions

00:08:28.120 for me that you may have, you can always find me on Snapchat, Instagram, Facebook, or YouTube.

00:08:33.180 Just search my name, Patrick David, and I actually do respond back when you snap me or send me

00:08:38.620 a message on Instagram.

00:08:40.060 With that being said, have a great day today.

00:08:41.800 Take care, everybody.

00:08:42.500 Bye-bye.

00:08:42.760 Bye-bye.

00:08:42.820 Bye-bye.

00:08:47.980 Bye-bye.

Valuetainment - November 02, 2018

Episode 202： 10 Signs You're A Terrible Entrepreneur

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