You can have the finest education in the world…even the finest business education but you simply cannot succeed in high level entrepreneurship or investing without spending some time at the School of Hard Knocks. What I mean by this is that the value of learning on the go is simply irreplaceable. Think about it. If you are a doctor, think about the transition that occurred from medical school to residency and then to residency to attending status. For that matter, anyone who has ever gone to school to study something and then transitioned into actually doing it knows that there is an entirely different kind of learning that goes on simply from experience that you cannot teach.
Business and investing are no different. When I started my first brick and mortar business, I had no idea just how much I didn’t know and I continue to learn more and more every day. I’m hoping to shed light on much of what I have learned in these posts, but at the end of the day, you have to take some risks and probably fail a few times in order to get it right. Every time you fail trying something new, you will come away with an entirely different level of understanding of what it is you are trying to do. Every day I learn more and get smarter just by operating my businesses. It can be scary at times but it’s also really fun and rewarding.
My advice to everyone who is thinking about starting a business or buying real estate…anything that you don’t know much about is simple. First, start small. If you screw up, which you probably will, don’t let it kill you. Second, and most importantly, start your business today! I can tell you from personal experience that there is such thing as over planning. Don’t spend a year just planning out how you are going to do it. As Nike says, “Just do it!”
My call to action to you today is to think about the business ideas you’ve had and make it a point, if they are not going to kill you financially if they fail, to make them happen this year. Make a road map over the next week or two, do some basic background research than just try SOMETHING that you have wanted to do for a long time. I promise you that you won’t be sorry…even if you fail.
If you’re thinking about doing something and want my advice or guidance, please leave a message at the end of the post. I would love to help you out!