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  • - What was the biggest challenge when I was starting out

  • as an entrepreneur?

  • (upbeat music)

  • - There were many, many challenges.

  • There's not one big one.

  • All of them seem pretty big back then.

  • I would say, number one, I'll give you a couple.

  • Number one, I would say, I didn't know what I was doing.

  • I didn't know what I didn't know.

  • So I was very naive.

  • I was getting into all these businesses

  • and trying to kinda get rich quick,

  • trying to make money quickly.

  • How can I make some fast money?

  • And I was always looking for external factors.

  • There is this opportunity, is that business

  • or it's that relationship that is going

  • to make me successful that is gonna help me

  • to build success for business and when I was looking

  • for external factor to help me become successful,

  • I was never successful.

  • I believe to become successful

  • to build a good business, you always need to look within.

  • You need to think of, you always have

  • to be a part of that equation that you have

  • to take responsibility and at the time

  • just like most people, I was pointing fingers,

  • I was blaming everybody else for my failures.

  • It's the economy, it's the customers, it's my competition,

  • it's this and it's always somebody else's fault

  • except mine.

  • Until I made that switch, once I figure out that business

  • is actually about a few things, a few key things

  • such as selling a product, selling a service

  • in exchange of money.

  • It's what commerce is all about.

  • It's you offer something to the marketplace

  • in exchange of money.

  • Maybe you are solving a problem and I say

  • many times, entrepreneurs, we are nothing more

  • than a problem solver, right?

  • As an entrepreneur, we solve people's problems at a profit.

  • That's what we do as an entrepreneur.

  • And once I recognize that, then things became more clear

  • for me that: okay, in order to do that

  • I need to have more capabilities,

  • I need to have more skill sets, I need to be better,

  • I need to develop some fundamental business skills

  • because most people, they get into business

  • without actually knowing business.

  • They don't know how business works,

  • they have no business acumen.

  • That have no help from anyway,

  • they have no idea what it takes

  • and they actually don't even know a whole lot

  • about the industry they're getting into most of the time.

  • Of course, you've heard of the statistics

  • that most businesses, some say 95%, some say 90%

  • of small businesses fail in the first five years.

  • Of course, when you don't know what you're doing

  • then chances of you failing is very, very high.

  • So I would say that's the biggest challenge.

  • Not knowing what I was doing

  • and also not having those skillsets.

  • Now once I have the skillsets,

  • once I've developed some of those capabilities,

  • it's like driving a car, when you don't know

  • how to drive a car, it's driving dangerous.

  • Of course, it's very dangerous, right?

  • You don't know what you're doing,

  • you don't know: are you pressing the gas,

  • are you pressing the break?

  • Of course, it's very dangerous

  • 'cause you are very dangerous.

  • The car itself, the vehicle, the business

  • is not dangerous but, as a driver,

  • you're dangerous 'cause you don't know what you're doing

  • but once you know, kinda know how to drive a car,

  • you can drive this car, you can drive a SUV,

  • you can drive a sport car.

  • It doesn't really matter because now you know

  • how to drive a car.

  • So business, I believe is the same thing.

  • Once you know how a business works,

  • once you know how to build a team,

  • once you know how to do sales, how to do marketing,

  • once you know how to put resources together,

  • once you know how to raise capital,

  • once you know how to maybe do your social media,

  • online marketing, it doesn't matter a whole lot

  • what business you get into, the chances

  • of you succeeding is way high.

  • And I always believe the number one skill,

  • the number one skill that you need as an entrepreneur

  • it is the ability to close.

  • It is the ability to communicate your idea,

  • your people skill, your communication skill

  • because that's what you do all day.

  • When you're talking to customers, you are closing

  • you are selling, right?

  • When you're talking to a vendor,

  • you're communicating the idea, you are closing.

  • When you are talking to your employees,

  • you are closing, you're selling them your vision.

  • You're closing 24, seven.

  • So having that skillset, I believe is very, very critical.

  • And that's one of the things I train,

  • so many entrepreneurs around the world on

  • this particular skillset on, how do you close?

  • How do you communicate your ideas?

  • How do you take what's in here and communicate

  • in such a way that people will understand,

  • that you can simplify your message?

  • It doesn't matter what business you wanna get into,

  • I believe that is the number one skill.

  • - Boom!

  • Big boom and not just one, actually two booms.

  • It wouldn't have been possible, of course,

  • without a huge community for HTC for Dan Lock.

  • - Okay, I'm kinda crying here.

  • I just got my first boom.

  • I joined HTC one week ago.

  • Actually, it hasn't even been fully one week ago

  • 'cause it was Thursday night at seven o'clock.

  • It's two in the afternoon, right now.

  • Last week's class was so good.

  • The advice on taking notes and everything

  • Sehu, thank you so much.

  • And so I have the call with him today

  • and I earned 25,000 dollars for myself

  • for my own consulting service

  • and immediately paid off all of my debt

  • in one day, in one Zoom call.

  • Thanks for listening everybody.

  • This is a big day, this is, wow.

  • - If you wanna know more about that,

  • I have a four part training series

  • that teach people, teach entrepreneurs like yourself

  • how do you develop this skill?

  • The ability to communicate, the ability to influence,

  • the ability to persuade.

  • So click the link below and see

  • and get access to my four part training.

- What was the biggest challenge when I was starting out

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The Biggest Challenge When Starting As A New Entrepreneur

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    林宜悉 posted on 2020/03/19
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