12 Mistakes I Made My First Year as an Entrepreneur
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- Опубліковано 31 тра 2024
- For detailed notes and links mentioned in this video, please visit patrickbetdavid.com/mistakes-m...
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Today I want to talk to you about the dumbest mistakes I made my first year as an entrepreneur.
As I was making a list of all of the dumb mistakes I made, I realized that this episode could have lasted six, seven, or even eight hours, but instead of covering all of them, I'll just share the 12 dumbest mistakes I made my first year as an entrepreneur.
Intro to video - 0:00
#1: I Almost Quit - 0:22
#2: Trying to Become CEO Too Early - 0:49
#3 Trying to Take Advice from Too Many People - 3:16
#4: Not Knowing How to Ask for Advice - 5:22
#5: Forcing Vs. Influencing - 7:08
#6: Living the Dream Too Early - 8:21
#7 Trying to Sell Too Many Products as an Entrepreneur - 9:54
#8 Thinking I Knew it All - 14:01
#9: Partying Too Hard - 16:07
#10: Acting Like a Boss Instead of an Employee - 18:49
#11: Not Having a Schedule - 20:16
#12: Not Knowing the Value of a Business Plan - 20:59
Those were the 12 dumbest mistakes I made -- there were a lot more! Comment at the bottom to let me know the biggest mistakes you've made, and if you haven't already done so, be sure to subscribe.
For detailed notes and links mentioned in this video, please visit patrickbetdavid.com/mistakes-m...
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Great videos always, please I am in Ghana Africa and I want you to mentor me. Please let me know how I can start this Mentee program. Thank you and waiting to hear from you soon
Hey Pat, I know that this is a few years old, but I still really enjoyed it,
Good value! and props for canning the party life! I respect that.
😀🕺🏻🎥🏖🇦🇺
@@bradhouston4734 thank you sooo much
Successful people are not people who never fail, but people who never quit. If you want to be a billionaire, then think like one, act like one, and live like one because there’s no other greater joy than having financial freedom and a life free of debts, All thanks to Mr carlos cause he made me who I am today through forex trade. He has helped me a lot with his trading strategies which helps me to earn $12,550 weekly. I really appreciate it and can't help but let others know about it. it is so suitable anyone can trade from anywhere and anytime, reach out to Mr. Carlos on 1nstergram Att *carlos_1uptrades* his indeed a God Sent.
Time wasting video.
This salesman is just saling you another product.
Start your business! - simple like that!
You will learn everything by doing it.
Full stop.
My dumbest mistake right now is overlearning and not taking enough action.
Currently
Salym Akhmedov sound like myself
Knowing is not enough, we must apply. Willingness is not enough, we must do.
Word...
Totally agree 👍
My biggest mistake is trusting people close to me.
I learned that most people want me to do good but don't want me to do better than them.
facts
I’ve been very close to dropping all my friends now I keep them at arms length
Exactly! THAT is something we need to come to terms with.
this is such a real reality!
Read "The 48 laws of power" this will going to help you
I felt like I was hearing advice from a family member who wants to see me succeed. Thank you, sir.
same
Time wasting video.
This salesman is just saling you another product.
Start your business! - simple like that!
You will learn everything by doing it.
Full stop.
@@atamtaki9336 not always true for everyone
Some people are not business minded or don’t know how to properly run a business at all and will fail before they even begin
@@bigiron7547
Look at practical life. It doesn't work.
You have to make mistakes and still get your guts together and carry on. There's no other way.
Learning through practice. All those fake "gurus" are not better than you. Only they don't give up and learn from own mistakes.
I know it's tough.
Good luck and don't overload your head before you even start.
@@atamtaki9336 You have a point with learning from your own experience. But you're forgetting that learning from the experience and mistakes of others is also helpful. A combination of the two is a key to success. The more knowledge you gather the better.
1- DO NOT quit.
2- Sales FIRST.
3- Only ask advise that match your rate of progress.
4- Don't fall for distractions, stay focus.
I love this response. all the issues I face right now.
On no. 3: take advice for the future but store it and don't apply it until it is ready.
My dumbest mistake is continuing in watching videos and inspirational stories without starting ... So stop watching videos of how to succeed and just start ;)
ps: this video is really great ...
same, bru. same.
Agree
i agree.
This is definitely a big one for most people. Listen to motivation when driving. Work hard when u aren't driving
@@rickyadames7714 Sure!
I'm so amazed by the READ shelf at the back
Thats what I also noted. Amazing
That's the first thing i noticed
Literally gave me an idea for the back drop for my wedding ceremony. Love it!
Michelle West what will you keep at your wedding
Clay Studios if your not sharing Patrick's videos, your not grateful for the value he has provided to you! come on guys lets help him get to a million subcribers before the end of the year! Pat is the only one that teaches like your dump he repeats and makes himself clear all the time, I love his content. do share!
1. Almost quit
2. Become CEO too quickly
3. Taking advice from too many people
4. Not knowing how to ask for advice
5. Forcing v. Influencing
6. Living the life too early
7. Selling too many products
8. Thinking that I knew it all
9. Partying too hard
10. Acting like a boss, not an employee
11. Not having a schedule
12. Not having a business plan
Thanks for this!
Not all heroes wear capes 💪🏽😎👊🏽
How to watch a UA-cam video in under 2 minutes! Thanks!!
Thankyou for saving my 24 minutes
You seriously misunderstood the last point. He's saying you don't need a business plan. And to all of you saying thank you "you saved me time" I can only laugh. I'll leave it to you figuring out why.
Most people procrastinate because they're unsure. We over analyze because we're unsure. Just do it anyway. Time costs lives, Most times it amaze me greatly the way I moved from an average lifestyle to earning over $63k per month, utter shock is the word. I have understood a lot in the past few years to doubt that opportunities are bound in the financial markets, The only thing is to know where to focus.
@Dulce de Leche I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or crypto and stocks.
@Everett Moore That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my coach, you may have come across him on interviews relating to bitcoin. He trades, manage trading account and offer mentorship program for clients who wish to become professional investors.
Wow I can't believe you guys are discussing about *Mr Gary Mason Brooks* , I once met him at a conference in California 2019, just before the pandemic. I can testify that he’s very good in trading..Highly recommended.
@jasonlauu Yes i do, I've known him for couple of years , I'm still using his services , His management team is quite impressive so far.... with my $15,000 deposit, I made over $288,000 profit with just 10% charge.
@Everett Moore It's 100% safe and legal , He’s an expert trader on stocks and crypto. I basically do nothing but collect profits, he was able to get me in early on most of these stocks and I exited just at the right time, his analysis was really on point.
1# I almost quit.
2# Learn to eat as a sales man first. Business owner second.
3# Advice from too many people. (Who has the life/Business you want? What are they doing when they were where you are?)
4# Learn to ask for advice. When they were at your level what did they do everyday?
5# Don't force people. Set an example style leadership.
6# Living the dream too early. #1 Goal in business is to set in business.
7# Trying to sell too many products.
8# Thinking I knew it all. (Heartbreak and rock bottom will fix this)
9# Partied too hard. ( You want to be the owner of the places you party at)
10# Acting like a boss vs employee. Hold yourself accountable.
11# Create a schedule and stick to it.
12# Value your business plan. (Business plan includes actionable items and habits to enforce everyday) BUILD A HABIT, SKILLSET DISCIPLINE PLAN it is critical over everything.
+Georbur 👍👊😎
George thank you for this
Thanks for good summary of video
Tks
Thanks for notes sharing
Don't let fear get in the way. Take that leap of faith!
Road 2 Excellence, I WILL!
My biggest mistake was thinking that I didn't need anyone, that I could do it all myself. Don't feel as if you have to make this journey alone. Every successful entrepreneur has a solid team behind them. It won't be easy to find them, but when you surround yourself with the right people, amazing things will happen.
How did you find yours?
@@MrRaehim networking at conventions
It is amazing to confirm by yourself that when you are truly ready to take in and take action, the master will appear in unexpected ways, everywhere around you. This is the beauty of our ARAS system in our brain.
If you wanna be successful, you most take responsibility for your emotions and not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed.
Sure, that's a better way to overcome inflation
Living in one's "comfort zone" is a contributing cause to the plight of young people.
You most be willing to make sacrifices and leave your comfort zone if you wanna become wealthy.
Success is grace and favor not hard work alone. I am successful today in the ways and manner I invested my daily earnings.
Fear is a total failure when you give up Ambitiousness; and Success is a game of dice, you throw your $coin while your investment decides your goal.
My dumbest mistake is staying in the comfort zone.
not so comfy in there is it?
Yup. Not so comfy. Financial chaos always in mind.
Do it
Read; "Who stole my cheese"
Josh Laborde Thank you for info
As someone who has owned several nightclubs, you're so correct! I can't stand bars. Welcome to adulting, much less drama. By the way, I still have friends that are my age and they still partying like we did 18 years ago. They're a mess, and nothing has changed. Same drama. I say friends, but there are some people that I had to let go from my life. They spewed negativity and no matter how much advise you give,they don't take it. I realized that some people will have you distracted with them, and they could care less if you're not getting done what you need to in order to create and maintain success. Some people just never want to grow up.
Sless Milani something I’m interested in owning one day have any real world experience advice you can pass along or any contact information, Or anyone I should look at for information?
Sless Milani that’s real
People like the easy way out from responsabilities. Adults try to be living the young life too long.
She sound very smart !!! Wish you a lot success in 2019!
you did the correct thing,
Being an entrepreneur I consider only one thing that "life is too short to hang out with the people who aren't resourceful"
they would raise and even they wouldn't let you raise.
Being with that kind of people we are killing our precious time in which we can achieve something.
we are not here to pay the bills we are here to do something special
My dumbest mistake: Not collecting dues from customers on time and still providing services expecting that they'd pay eventually. Boy, was I so wrong.
If you don't find a means of multiplying money, you will wake up one day to realise that the money you thought you had, has exhausted. Investment is a ladder to climb the financial wall.
I agree with you mate. Investment is also a bridge to sustaining your financial longevity. And not just any investment but an investment with assured return because there are investment that has no gives no profit.
So how do you get your proper guide and the analysis you mentioned? Because I have incurred huge losses while investing by myself
it's best to have an investment man *ager* who has well acquainted knowledge about Investment, to help you earn from your Investment on your behalf while you oversee the Investment growth, having hundred percent access to your portfolio.
Speaking of investment man *ager* , any recommendation? . I will also want to know if while he/she handles my Investment, is my investment still accessible by me to monitor and authorize any action on the Investment portfolio?
My investment manager is Mrs Roy Kheler, she is knowledged when it comes to investment that assures daily and weekly returns.
I created a product for liquor stores and tried to sell by phone and internet because I hated sales...it failed...I had to get in my car and drive to 50 stores a day in my area and convince mostly middle eastern business owners to carry/buy my product.
These men were the hardest people to sell too now that I look back on it...most disspointing first 6 months I ever had...but boy did it train me to learn how to sell products...pounding the pavement and selling to businesses was the most valuable education I ever forced myself to do....conquered my fears of sales and made me more personable in a short time.
hi, how is your business now?
I now sell too wholesalers but still have to get out there once and awhile to promote and to see whats on the market so I can adjust and stay relevant.
John Doe wish you good luck
John Doe
What is your product?
commenting here only because i want to hold myself accountable by this comment - it gets saved on history and i will see it in the future - i will do this also - going out there and talk to people - face to face - getting the nasty feedback - jumping in with both feet - it's the best thing i can do.
My mistake was having too many businesses to try to establish multiple streams of income. My take away from this? Identify, Focus and Build on ONE.
Thank you, Mr. Bet-David.
Is it really that bad, I was about to go down that path. I think if you have multiple streams of income, you’ve got to have more people at a higher level. I think I’ll be the boss of the bosses, start a business, hire someone to maintain it and boom. Use money from other companies and give it to the ones with less so they can get it together.
Do you think this is the right take? Has anyone tried it out?
Dumbest mistake I made was developing the technology before validating the market. Should have been the other way around, but back then I was more of an engineer than a business man and solving the engineering problem seemed easier because I knew how to do it. Live and learn. Nice video!
I am in same mode bro. I am an Accountant. I ave developed templates but not able to tap market
My dumbest mistake was discounting my brand to please customers who had no intentions of buying in the first place
That is 1 of my worry
Raw Hair Wholesaler lols...rule no1 never give unnecessary discounts.
You deserve the best! You are awesome!
YES! You failed to realize the customer is not always right, your brand is your business and YOU and YOU only know when it's right.
I love this. People tend to discount to get people to buy and then people expect discounts and you put a ceiling on yourself to earn what you’re worth!
My friend, if I was to list the many mistakes I have made over the years it would truly be difficult if not impossible. My top biggest mistakes were 1. As an artist (I am a professional photographer); I didn't understand I have to be a business man first and an artist second. 2. Respect your body and the health of you mind (like you I partied very hard and ran with the worst persons for my success). 3. I never had a mentor, I thought I knew everything and I didn't keep up with the changes within my industry and actually refused new ideas. The worst being the digital age in photography. And there are some other very hard truths within my experience. But since I suffered a major heart attack and spent almost 3 months on my back in the hospital, I had that major life experience you were talking about and I sought out a mentor to help me build correctly for my future.. Patrick you are that person, thank you for what you do for us who wish to make drastic changes to the way we think and starting as a new and recovering entrepreneur who now wants to do things correctly for my future and my new family.
Mario Carranza, Houston, Texas.
Thank you for sharing. How are things going current?
My dumbest mistake is not starting
xD
same here, got some funds, may have a team but fuck, I don't start it. why the fuck..
so, it's been a week. Have u started?
how about you? been a whole month since your comment
Still havent started anything guys.. What a surprise... I need to find somebody who want to hold me accountable
Nice content, Investment are stepping stone to SUCCESS, investing is what creates you wealth and wealth brings you assets.
and assets buys you Freedom.
His trade execution quality and profiting is well structured with great financial features.
Working with Romero pieto is the best thing that can happen to a beginner trader who is aspiring to be fruitful out of the market he is trustworthy and straightforward we surely need more men like him in trading world.
Good good content.
Yes I'm a living testimony of Romero pieto his platform has also done a great thing for me.
I've seen so many review about this man called Romero pieto who is he ?
I've made each of these mistakes in my first real year as an entrepreneur too. Man, some of this stuff isn't sexy and isn't the kind of thing entrepreneurs talk about but in the beginning of your journey it's just about survival. Sales and incremental learning of the things you need to know that's two-three steps above where you're at. I'm in year two, finally made it to 10k MRR and I know what lies directly ahead for 15k and 20k MRR.
One of my mistakes is too much planning comparing to taking actions.
Ali Al Khabouri You miss 100% of the shots you don't take
Ali Al Khabouri if your not sharing Patrick's videos, your not grateful for the value he has provided to you! come on guys lets help him get to a million subcribers before the end of the year! Pat is the only one that teaches like your dump he repeats and makes himself clear all the time, I love his content. do share!
Oh mannn I am the same way. Over preparing and overthinking
Sorry guys but preparation is not a fault. A big part of sales is preparation.
I thinking planning can create clarity but getting out there and seeing whether is going to work in the real world is a whole new game.
My biggest mistake so far...associating with friends, in addition to that, associating with people with tons of ideas but didn't want to do the hard work.
Sounds like you know where to make your adjustments. 👊🏼
"Action is worry's worst enemy." - From a fortune cookie (I kid you not.)
omg i love this
Idk who wrote that, but he doesn't earn enough
True - This goes on the notice board.
thanksss ☺️☺️☺️☺️
How are you talking so damn fast but I am still able to comprehend every single word you’re saying?!
Thanks for the advice.
Because he is teaching from life not a book.
*Laughs in arab and mexican*
My dumbest mistake was over promising and not fulfilling. Lost really high profile clients...
This is my issue now.
Simon Muhr if your not sharing Patrick's videos, your not grateful for the value he has provided to you! come on guys lets help him get to a million subcribers before the end of the year! Pat is the only one that teaches like your dump he repeats and makes himself clear all the time, I love his content. do share!
omg, I'm doing one of these right now - being a CEO too soon. thank you so much to opening my eyes. Time for me to start focusing on the product sales!
i was also doing the same
I love the part about being an influence instead of forcing others to be successful. Forcing only gets resistance from what ive seen. Thank you Pat!
Have you ever tried to get your coat off the peg from its strap by hardly pulling or twisting it hardly just to realize that it’d come out easily by not applying any force? I learned this by watching the kids at school 😊
As a young entrepreneur, THANK YOU.
Thanks bro! I'm in a middle of a depression as a businessman now and after hearing this I think you just saved me my business.
Lot of respect to you!!
+Jhopet Phils Admin 👍🏼👊🏼
PriMa Phils Admin if your not sharing Patrick's videos, your not grateful for the value he has provided to you! come on guys lets help him get to a million subcribers before the end of the year! Pat is the only one that teaches like your dump he repeats and makes himself clear all the time, I love his content. do share!
I'd you're clinically depressed, please get help. It's a repair for your body which will help your mind be lighter. Life is hard without extra stuff weighing you down. Stay strong, take action.
I'd like to know how's your business at the moment.
if good what steps you focused.
if bad what mistakes you done.
thanks!
One of the dumbest mistakes with my first business was thinking I needed the best business cards, videos, and other marketing materials that I really didn't need. Lost thousands. I've started my second business with more success and spent less than $500, already making the money back and more!
+Chad McLetchie there you go.
Chad McLetchie thanks for sharing your experience. Because I was also thinking same before starting my business.
Chad McLetchie
What's your business?
Dairy farm, I am a milk supplier. And yours?
Web design, graphic/logo design. www.McLetchieMG.com
This is probably one of most value saturated videos I've seen on UA-cam in a while.
Baby entrepreneur here. Been doing this about nine months so far and I have already made quite a few mistakes. (and more to come) thanks for saving me a few I might have fallen into. My biggest mistake (so far) that I made until about two months ago was the trying to sell too many things. I tried to do animation, app development, graphic design, commissions, youtube, twitch streaming... the list goes on! Since then I have narrowed down to just Print-On-Demand products (t-shirts, custom notebooks, etc.) and I feel like I'm beginning to grow. (Which may be unfounded since I have yet to make a sale in 2019. )
I've subscribed and I'm looking forward to seeing more great videos in the future!
Where can I buy a shirt?!
Hey, I am the baby entrepreneur now. Can we talk over a few things? I am making quite a handful of mistakes. It has been only 6 months down the road. So, I would like to learn from your experiences, if you are willing to share them.
these videos are even more precious than gold. period.
+BakedUp 👍👊💪
"Living the dream too early" This is exactly what happened to me in 2013. I was rolling and hitting the top spots in NYC. Life was great for a bit then POW! reality knocked me down. I eventually got back up but although that was a big mistake, I'm happy that happened. It taught me a lesson and have made better more mature money decisions since then. When the money starts coming in big... Its good to go out and have a good time but also not forgetting to stay focused.
Heyy can you give me advice pleasaase
Sasha Tongue on what
uzernam3 if your not sharing Patrick's videos, your not grateful for the value he has provided to you! come on guys lets help him get to a million subcribers before the end of the year! Pat is the only one that teaches like your dump he repeats and makes himself clear all the time, I love his content. do share!
"theres no real life and substance behind that, I want the juice of life, I wanna be alive"
MY MAN. That line right there just made me a believer.
First time I hit this channel, and I love it. The quote that changed my life was "I Know, I know nothing." Beautiful.
No human out there knows everything, life is an entire learning process..no matter how old you get
True.
one of the mistakes is thinking too much than you're actually acting on your plans.
Just do it! fail fast, rise fast.
+NigChampel 👍👊😎
Completely agree!
I love how you're sharing your personal experience to teach us. It's so important to learn from one's mistake if we want to eventually grow in business,. Great video!!
Truth! 💯
Thank you for sharing. This is pure gold. A smart man learns from his mistakes, a wise man learns from other people's mistakes and a wise Leader shares his journey that makes him immortal.
I did the 12 mistakes you mentioned here 2 years ago and it got me ruined and lost all my friends. Hanging out with the wrong people often gets you tangled to more mistakes. Plus I invested my money in different projects and never finished them so everything is half way and I dont have a product to sell.
"I want the juice of life...the natural highs of life"...love it! thanks for this awesome videos
This is great advice, especially for new entrepreneurs. I think the fear of simply making mistakes holds a lot of people back. You really can't avoid mistakes, only choose the kind you want to remember later.
am at the moment of starting and my greatest fear is "making mistakes". What if I get it all wrong after investing money and time.
My dumbest mistake was not caring about money when I had it.
Biggest mistake was rewarding myself with nice things before ever accomplishing anything...
+Joel Montoya The good news is you're transparent and honest with yourself. For most people it takes them 80 years to be honest before it's too late. Now it's all about making the proper adjustments.
Reward yourself with a good night sleep.
Eat healthy, think better.
Oooo good onnee
@@codelucky well said
My dumbest mistake is not doing enough in my day, working numbers in my tasks. Not setting numeric goals to reach and surpass when completing tasks. That changes now, I know better, I learned this concept when I was selling cars! Thanks man!
Selling, its all about selling. Everything else is background noise. Great job, thanks for sharing.
Great recommendation by PBD! The majority of these errors PBD made were personal work habit mistakes. For pure business mistakes you can say come common errors are
1. Not focusing more heavily on sales
2. Poor core hires in your business.
3. Not terminating bad employees fast enough.
4. Not having good business systems in place. Having prior work experience at your competitors would have been extremely helpful.
5. Not building great customer relationships.
6. Bad investments in advertising/marketing.
7. Not developing your current employees better. Having a successful and fun work environment.
8. Not focusing on customers you can attain.
My dumbest mistake is being too satisfied too soon. I sold 1 house per week in 2014 for few months and i dont improve my sales at all. In 2015, the market is not too good and its hard to even sell 1 house per month. I should work harder. Btw, very good advice man!
very good insight! always keep growing! Will keep in mind!
The are a lot of things mentioned that totally hit me under my nose, and it's awesome to know that I now know how to correct them. Pleasant video, learned a lot!
+Angel Marini (AngelMariniTV) 💪👍
100%
I noticed myself losing it, your words taught me I stopped chasing the high that I yearn for. The high where waking up was a joy because it was another day of learning and making mistakes.
Thank you for your words brother, verification needed in this swing.
Thank You... it's my daily mission to have you as a personal mentor and apply all the knowledge you are teaching us. You are helping us safe time & avoid pitfalls.
This was very enlightening. Thanks a lot brother
1 m subs yet none recognize you ! I GOTCHUUUUUU AAYYYY KARIM WUZGOOOODD
check @whindersonnunes
+KARIM Fuck off, you lying drama queen.
Get out you radical Islamic apologist lmao, not every middle easterner is an Arab nor a moslem smh
idiot
My dumbest mistake was that I didn't have a clear sense of direction and the purpose behind WHY I did what I did. The things which motivated me to do it were 1. Fear, and 2. Money without considering what is the value and impact that I bring to others... sad.. anyway thank you for the advice!
I needed to hear some of this. I too was becoming exhausted by trying to force success on those who simply weren't ready to seek it on their own. It's so tiring.. starts with good intentions but at some point you have to realize that it's not your decision to make for others. Major moment of personal growth.
Thank you David. I have been watching u since you first started. I still haven’t done nothing. It’s showtime. Thank u for for talking bout all ur mistakes. I see a lot that I’m doing now you helping me get bigger and better. Thank u. You are a life saver 💪
My biggest mistake was trusting the wrong people.
Hi Chase, don't feel too bad, your not alone. My wife back in 2005 wanted to invest in real estate with a woman she thought was her friend. I tried to warn her, I didn't trust the woman. Well, she didn't listen to me. We lost our $310,000 home, over $110,000 cash she loaned to two men the woman convinced her to loan the money to. And, we had to sell both our Mercedes.
We had to move to an apartment near where we had lived. Funny thing is that in 2002 I asked her to invest at least 50,000 in investment gold coins and she told me that she was afraid to do it. But, she wasn't afraid to hand over 110,000 to two men she knew nothing about. The woman she had only met about two months before. After all that loss my wife came home from work crying every day for at least three months. I loved my wife and did my best to comfort her and never said " didn't I tell you not to do business with that woman." My wife passed away two years ago, I was in the hospital room with her when she passed away. I told her I would be ok and that I would take care of our dog. She nodded yes and passed away. It's been a little over two years and it's still hard not having her here. Everyone makes mistakes, even the smartest people. I hope this helps. Don't be to hard on yourself. In three years we were able to pay cash for a small house. She lived in the new house for five years before she passed away, about 8 years after the loss. My father did the same thing, taking out money on his house which had been paid off some years back. Now in retirement he owes 130,000 on his house. when one of my parents dies the other will have to come live with me because the other will not have the income to pay the mortgage. I'm already planning for that. I try to help them as much as I can. So again, don't be too hard on yourself. My wife worked at Everbank as a mortgage loan processor making $65,000 a year without a college education, she wasn't a stupid.
Roberto Diaz Thankyou for sharing. I can only imagine how much that hurt. I am sorry to hear about your wife and I am sure she is in a better place now. That was a very encouraging story. When life beats us down we just have to fight back harder and never give up and be appreciative for what we have. God bless you, man!
Hi Chase, I don't normally do this but if you would like to communicate my email address is " planum9@gmail.com "
Chase Champlin thank you for your kind words.May God bless you and I hope things are well with you.
But how trust right people?
#13 Thinking I can do it all alone and don't need anyone else. A successful business is build by a team.
#14 Spending too little on business to save money.
#15 Not hustling
#14 is so true!
Thank you so much, brother. At 28 years of age, and having tried so many occupations, I find it difficult to choose which one I should focus on as my personal business career. But considering everything that you said, I realize that I am doing almost everything backward. Skipping around between different business occupations and trying to lead before I know how to follow, are two of my many mistakes. I've been watching A LOT of motivational entrepreneurial videos, lately, and this by far is the only one that answered ALL of my questions of why I'm not succeeding, yet. Awesome video!!! Thanks again, and CONGRATULATIONS for success!!!
Hi David, thanks for your encouragement and guidance. I'm a student of entrepreneurship and what you share out one can't even find from lectures classes. Discipline, humility and product or service specification are some of the key to success as an entrepreneur.
Don't expect to become a millionaire your first year
You speak the truth...patience is definitely required
infact, don't expect to make any money off your business in the first few years.
A wise man once told me "patience is the key to getting where you want to go faster"
Expectations break humans
You got it all wrong you already ARE a millionaire you just dont realize it. You have to take into account your position compared to the rest of the world. Yes so TECHNICALLY you arent worth a million cuss you dont have a million in the bank (which yes if thats your goal in the first year is dumb because money doesnt make money sitting in a savings).
Excellent information, Pat. I'm starting up a new business venture at the age of 53+ and this really hit the spot. Thank you!
This video has solved a few really important confusions I had in my mind relating to my new startup. Thank you so much, Patrick. The content discussed is Incredible.
You're the Best Pat, love your videos and I also love the fact that you based almost everything on research and actually data you either accumulate or create in time
This is amazing! Thank you so much. I'm so motivated
Not making the mental transition from employee to entrepreneur sooner...
Tristan McLean if your not sharing Patrick's videos, your not grateful for the value he has provided to you! come on guys lets help him get to a million subcribers before the end of the year! Pat is the only one that teaches like your dump he repeats and makes himself clear all the time, I love his content. do share!
@@cdeadpoolblock1309 fuck off, moron
Appreciate you man! In the middle and still the beginning of so many things ahead. Thanks for sharing the humbleness. It's definitely been real and I'm def okay with that. Filed several patents lately and after the guts to finally to just go for it. Been a multi business owner for 30+yrs. This is different. Enjoying the journey now. Licensing deals on the way. Thanks for doing what you do. I listen to many podcasts, books, talks, etc. I can say your sharing is at the top of my list. Thanks. Hopefully adding to your new stories as well.
A few of my mistakes allowing negative emotions to be clearly visible, not reaching out to seniors of my field for tips and guidance, and putting trust in people merely off of their word. I have grown immensely from that stage and this channel is a HUGE addition to my mindset of becoming a successful entrepreneur.
starting a business without knowing much about business
I've been on self development about 3 years in. This is the direction and advice that coincides with success 100%. I have become a fan of yours Pat. Continued students of success
WOW! So extremely valuable! Thank you so much for the information...been an entrepreneur for only about 8 months and it was incredibly useful to hear these valuable "mistakes" and what you learned. Thanks again!
Thanks Patrick! Totally new perspective on business plans! I’d love to hear you do a whole video on your version of a business plan!
Fantastic stuff Patrick - no idea how this even has dislikes!
The content is excellent, the branding on point, and everything you say is actionable. Thanks for providing the proper perspectives, through your own stories
Evan
You're a blessing. Thanks Sir.
Patrick, I don't know what to tell you... the information you put in your videos is pure insights! Everything is relevant, everything is YOU, everything you do is for the greater good ... I appreciate every video you make for us, cuz it's obvious you look at this stuff here as something you can do to help others. That's my goal too - to find a way to help others! I'm a young entrepreneur now, 3 mounts from the beginning of my business. I still don't know exactly what am I doing, I'm trying to figure it out, but everything I found on you channel helps to do that. Thank you for that! I just hope someday I'll be able to give you some value in return! Keep up with the great work, man!
Ive learnt that I should'nt quit whether its based on lack of motivation or being strongly affected by people's opinion about me . While refraining from quitting , I should stop being tempted to implement every form of advice I get and to also form a resourceful plan that I will practice daily.
I’m in year one and this was such a helpful video! I’m along the same lines of thinking in many of the topics discussed so it felt reassuring to hear it from You
Hey Bud thanks for that well put together video. you remind me of myself having to go through those things. I have my business since 1988 and have never been bankrupt or out of business. I do work hard if there is a lot of work and like you say stop playing around and get your high on good business deals is what its all about. focus, attitude and imagination make you stay at it. you are allowed to get tied but not lazy. thanks Bud.
Such an authentic speaker. I really enjoy how you deliver your message more than I would have thought.
Insightful comments on what a year one business plan should be. Very apt:
Your business plan should be actionable items and habits to learn. Such as give away 250 business cards, make 50 calls, read an hour per day, study my trade an hour per day, learn a new skill set each month . Books, Audio CDs, relationships. That’s a business plan.
22.55
“ A habit-skill set business plan is what’s critical over all that other stuff”
This is excellent advice!
I always re-watch these videos over time, it’s pretty cool going from a rookie to intermediate entrepreneur and remembering what I thought the first time and what I think now- the evolution is insane- you are on point Pat 💪 thanks 💯
I love rewatching these too! Inspiring 💯
I love this very much!! I have your book and absolutely love everything, taking notes, self improving, I feel great!
I’m so happy and grateful I came across your video. Thank you for sharing your knowledge. I truly felt like giving everything up today
The business plan thing is a major key. It always stressed me that I don’t do a business plan before acting. But u made me realize that I need to know what my actions actually are and that is how u formulate it. Thank u. See u at the top
I think of myself when he says entrepreneur
Same exact thing I thought
Me too
Saaame 😭😂😂
Bruhh samee
Thank you again for a great video and great advice! Much love Patrick!
Great video, one of our biggest mistakes was not having an efficient system/ business plan. We were great at closing sales and providing value to our customers but didn't have a day to day system. Took a break, put a system in place and things are running so much smoother.
Solid advice. You the man Pat. All ears, thanks for all the value you provide in your content. Much appreciated!
Loving your advice.. Above all that READ book shelf Is on point. I need that in my home..
This Video is first class! Absolute top quality information. If there is a better channel for entrepreneurs on the internet then I'm not aware of it! Thank you very much!
+Rhys Thomas thanks for the love.
Thanks from Zambia. Awesome stuff. So generous of you. Just what I needed for my business to take it to the next level.
Thanks for your authenticity and stories, it gives so much inspiration
At 18 minutes:
"I want to be naturally high!"
This dude is awesome
Oooh, I LOVE business plans!!! They help you stay organized!!! The Right Brain Business Plan can help a person get started and give an in depth understanding of it.
Valuable valuable information! Glad I came across this video and channel. Thank you.