Fighting through Obstacles
Many successful tycoons and big businessmen has said that they learned the most through experience and starting their own business. Whether it's a business that employs individuals or just employs yourself to learn about taxes, insurance and diversity of income; it can help set you apart. As an employee and an employee only, you place all your eggs into one basket (has that ever been a bright idea). However, if you are employed but also find various avenues for income sources to become diversified and more secured then most.
Basically, there are a lot of benefits to being an entrepreneur other than the money, such as, the self-esteem that comes with it and the security that you lie for yourself. So, why don't more people do it?
Without mentorship or risk in your blood, it is difficult to understand the mentality of perseverence because you're taught to overanalyze everything and assess all the risks prior to anything. How debilitating...
It's visible how many people operate this way. These people who have tons of potential but are afraid to make mistakes. If there is one thing I know is that no entrepreneur I have ever met, figured out everything before they started. Trial and error is the natural process of the world. Work within your nature, not fear.
How do I get over the obstacles like an entrepreneur?
Becoming a successful business owner requires a few key components. A lot of the work that businesspeople do to even think about opening up a business is to listen to the market and the consumers within the industry to get a feel for what is missing or needed. When you listen, you pay attention. When you pay attention, your brain naturally picks up.
Once an idea is attained; strategy, lots of research and of course mentorship is necessary to launch.
If you don't have your own seed capital to begin the business, it is extremely helpful to connect with family and friends or approach a mentor to invest into your operation.
How to frame your pitch to a prospect investor
People invest their monies in all sorts of ways. Whether it's banks, bonds, insurance policies, 401(k)'s and the list goes on, you can be that investment with a strong return. It's a simple reframe for most that are not used to investing into businesses. Today, those individuals are known as angel investors and if you give them that title, they may even buy into that. Just kidding, but it does help (on a side note, people love new titles that flatter them).
Overall though, every investment has a percentage return that varies between below 1% to 15% if you're savvy or more if you're a tycoon. There is one factor in common, all these investments have their money working for them and in this case, their money would be turned towards the entity that you're opening.
In fact, most large corporations today were funded by other people's money. Most of the time, they don't know it is going to evolve into something so profitable but they hope for the best. In the case of an investor, it is important to find the right person to share your purpose with and believes in your ability to turn the investment around and produce returns.