10 Business Lessons I Learned As An Entrepreneur

10 Business Lessons I Learned As An Entrepreneur

if you would have told me 10 years ago that one day I would be talking to a video camera in my basement about things like how I personally shaved my testicles and this is what I was going to consider successful I would have punched you in the face because 10 years ago the only thing that was going to mean success for this guy was running a chain of super successful fitness centers but I am an entrepreneur and the one thing that I've learned over the years is that success doesn't always look like what you expect it will 5-year plans haven't worked out for me and so I stopped making them but I have learned some incredibly valuable entrepreneurial and business lessons along the way and so today I thought I'd share ten of them lesson number one is choose your business partners wisely a bonus tip is do background checks on anybody you're thinking about getting into business with you're thinking I don't need to do that I've known John for years is a solid guy well trust me when I say it pays to do your due diligence even if you think and I'm sure that John is a fantastic stellar stand-up dude but think of your business partner as somebody that you are getting married to okay it's like your work wife because business agreements and contracts are just that they're a contract they are a legally binding agreement and if things go south you can be in a world of hurt to be honest marriages like real ones they're easier to get out of than some business relationships nothing steals the fun out of a new business like expensive or high overhead true story when I own my fitness center you know my monthly expenses were $40,000 that is a lot of memberships that is a lot of personal training that is a lot of supplements business owners and entrepreneurs eat last okay you're paying everybody else before you before you see a dime for me $40,000 had to go out the door guess what I was the person who made the least amount of money the people cleaning my toilets were killing it compared to me lesson number three is don't be afraid of hard work now this is something where you're probably like of course right it's going to be hard yeah you don't understand until you've actually done it how difficult the work is going to be at times it's going to be daunting at times you're going to want to give up just know before you start before you embark before you spend the money on starting something it's going to be a bear the mountain is steep it's high and you've got a climate this is your pride lesson number four is taking that pride and throwing it out the window because you're going to need to do anything and everything it's going to take in order to be successful true story when I add my fitness centers it got pretty bad towards the end I expanded too fast there are a bunch of internal issues remember I was saying choose your partner's wisely it got so bad financially for us that I was having to take money off her credit cards in order to pay my employees and so in order to make ends meet I had to take a second job on weekends working as a beer cart girl on a golf course a private members-only golf course and if there was there was a moment when there are lots of moments doing that but it was winter it was about it was February and in Atlanta it does get cold especially at 6:30 in the morning on a Sunday there was frost it was about 23 degrees and there was no heat in the in the cart and so I'm sitting there waiting for golfers to come around there's no shelter I'm just in this cart shivering my butt off and it was that critical moment in my life when I realized that my god I will do anything it takes in order to be successful the walls my empire that I had planned on building and creating was crumbling right before my eyes and there I am sitting in a beer cart a thirty like two year old dude serving beer too drunk golfers swallow your pride you're going to do things know that you're going to do it and times could get tough lesson number five know when it's time to move one and this is a really tough one if there's the same called shoot the bleeding dog know when it's time to put it down and a lot of times as an entrepreneur you start a business and you want to hold on as long as you can you're with white knuckles holding on I don't want to let it there comes a time in every failing businesses life when you've got to know that okay it's time shoot it put it down and move on the problem for me specifically was that like we said I never had Plan B I never had another option when I do something I am 130 percent all-in and so the realization that okay this isn't working and it's time to do something else was really difficult for me and it will be for you if you face that similar situation but trust me when I say it is the absolute best thing you can do because once you get that weight off your shoulders it allows you and frees your mind to think of your next better opportunity leading me to lesson number six look for opportunity everywhere doesn't matter if you're not familiar look for it everywhere the thing that blows my mind because here's the I get approached by so many companies nowadays saying hey check out my product check out my friend you know how many wallet companies are out there thinking that they've got the latest greatest okay if you have a passion for wallets okay then try and make it work but they're the wallet market is totally saturated so maybe it would be a wise decision if you're looking to be an entrepreneur to look for opportunity that isn't currently being met or fulfilled with alpha M my image consulting business I took a look at the market and I'm like hey you know there is really no resources out there for everyday regular guys to get solid basic advice I'm not talking GQ I'm talking from a regular guy I happen to know more about shoes and manscaping then football so it was the perfect fit but um you know you just got to look for opportunity where other people don't necessarily see it lesson number seven is hire smart surround yourself with good people I'm not talking just like good qualified I'm talking good people people that you want to be around I want to be associated with people with good moral character and compasses case in point is my assistant Debbie she has been with me literally from the darkest days back when I had my fitness center Eva and she's still with me today the interesting thing about that is throughout the time you know money has been tight and so I couldn't always afford to pay her what she is worth and the value that she brings and so being appreciative and treating people with dignity and respect and just telling them eh I really appreciate that you took a chance on me pays off even if it's not financial hopefully in the future financial will happen but I'm telling you it is a it is one of the most valuable lessons that I personally have learned and I couldn't do any of this without her so Debbie if you're watching I know you are thank you lesson number eight is be honest and ethical and everything you do it's business integrity we talked about having character a good solid moral compass well for me one of the lessons that I've learned through over the years is that it pays to do the right thing lesson number nine I mentioned it earlier in the video it is that success doesn't always look like what you expect it to or what you hope it will and this is this is the story of my life and I really truly feel like I finally found something that I'm passionate that I'm good at and that I love doing and so looking back you know I couldn't have gotten here without the other hardships and so a testament to my personal fulfillment and personal success today is that you know I I weathered the storm because entrepreneurs and being an entrepreneur is definitely not easy it's not the easiest road you'll be on that is definitely for sure it would be much so there are times where I'm like I would love to go to an office punch a clock work for somebody come home not have to think about it but at the end of the day it's not me it's not what I'm passionate about it's not what I love and all of the hard work through the many many many years has gotten me here and I wouldn't trade any of it for the world and it brings us to lesson number 10 which is do what you love if you do what you love it's not work and the inspiration for this video actually was this tip number 10 this morning I was at Starbucks and I was working my general schedule as I get up early I go to Starbucks I work for a little bit then I go to the gym then I come home then I would then I make Vitt and one of the guys the regulars came in he goes god what time did you get here I said now around 5:30 he said well what time do you shut it down at night I said around 9:30 and he goes my god he goes do you like it I go I love it it's not work I I get up in the morning and I'm so excited to get started and start writing start emailing start producing the content that I'm producing that uh if I if I have more hours in the day I'd still do this and so it's really amazing and I just thought that you know I'd share sort of a little bit of my journey and some of the lessons that I've learned because I know a lot of you out there like the idea of starting your own business or being an entrepreneur and it's not easy you need to develop a thick skin and a cast-iron stomach because you will lose a lot of sleep over the years but if you are successful and the only way that you're not successful is if you fail and you don't get back up if you can knock down punched in the teeth you fall down get your ass up it's only a failure if you don't do that if you don't get up and you don't try again trust me eventually you will figure it out and I just want to thank you for helping me figure it out because if it wasn't for you each and every one of you I'd just be some weird dude with a camera

46 thoughts on “10 Business Lessons I Learned As An Entrepreneur

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  3. So good to see different tips and really useful ones- especially about working hard and pride 👍🏻 thank you

  4. I have the best skin care product that's out there when you get turned down from proactive and they tell you that you are there competitor and other companies tell you the same. My product takes hours that weeks whiteheads blackheads dead skin cells oily skin all at the same time. My product is not a cream food product a laser a spinning brush acid it's so damn simple I can't believe other people can't figure it out. You do not need accutane you don't have to die or exercise no pills no crushed-up aspirin. I have pitched my skin care product to so many companies and they told me no. Once this skin care product drops I guaranteed a lot of people will be losing their jobs.

  5. Spot on dude! I’ve owned 3 convenience stores in the last five years and I have basically had to eat crow like you would not believe! I have been to the arm pit of hell and back and my businesses and everything that you were saying is true. I have made the most idiotic decisions with my money and it has come close many times to sinking the whole ship! Coming out of this last venture I feel like I have been so sharpened and will be so wise on my next one. But I am not giving up and I feel like my journey has just begun!

  6. 1) Choose business partners wisely
    2) (I don't know)
    3) Don't be afraid of hard work
    4) Throw pride out the window
    5) Know when it's time to move on
    6) Look for opportunities everywhere
    7) Surround yourself with good people
    8) Be honest and ethical in everything you do
    9) Success doesn't always look like what you expect it to or hope it will
    10) Do what you love

    Thank me later

  7. Hi Alpha. I did an assessment on myself for entrepreneurship and scored an 85%. It told me which answers were bad once they were submitted. I don't have a lot of money set aside or family to support me. As an entrepreneur, how do you usually go about funding?


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