Why Do Business Owners Win?

Understanding the New Rules of Money

Master Investor
March 28, 2024

To become a wealthy entrepreneur we must established several principles in order to succeed.

Summary:

To become an entrepreneur, we must overcome our doubts and concerns.
Make the most of the knowledge that is relevant to us and discard the rest.
A vital step on the road to success is failure.

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Avoid letting fear stand in the way

The Washington Post reports that the COVID-19 pandemic of 2021 caused almost 4 million Americans to resign from their jobs. Eventually called "The Great Resignation," this abrupt disruption in the American labor market was caused by workers who changed the nature of their jobs and went after chances that they probably would not have otherwise taken.

It should come as no surprise that Salesforce estimates that 4.4 million Americans launched their own businesses during the pandemic.

These figures are important because they show the drastic measures people went to try to get wealthy. Before, it was only a lofty ideal that no one ever pursued.

COVID-19 was the most extraordinary occurrence our generation has ever encountered, and it was the perfect illustration of not allowing fear get in the way. By all accounts, it was the greatest chaos and panic we had witnessed in a long time, but in spite of everyone's anxiety, businesspeople prospered.’

Why intelligent individuals don't succeed

But why do would-be business owners continue to fall short of their goals? The response is straightforward: Two traits define entrepreneurs: bravery and stupidity.

We don't want to imply that being foolish is essential to entrepreneurship when we state that "ignorance" is the key. Instead, we're advocating that we not permit any useless knowledge we may possess to hinder us. Children frequently declare their want to be astronauts, professional baseball players, or president, for example. They don't limit them because they don't know how difficult it is to realize such aspirations. In the best sense of the word, they are uneducated. They still have dreams and think they can come true.

Willfully uninformed entrepreneurs are the greatest. They chase their dreams with fervor when they have them.

They disregard the clamor from those who tell them it's impossible and continue on. They disregard their pessimistic views and continue even when their own mind urges them to give up.

In actuality, a large number of entrepreneurs are quite intelligent and knowledgeable, but they don't allow that to deter them. They possess the bravery to face the terror that comes with knowing.

For instance, Lendingtree's research indicates that over half of all companies fail within the first five years of operation. But, since bravery is more valuable than knowledge in the actual world, entrepreneurs aren't concerned with figures like that. The secret to being brave is to ignore our negative thoughts. Never forget that our doubts are limitations and our intellect is limitless.

Self-mastery

For the majority of business owners, the challenge lies not in starting their own company but in stepping away from self-employment.

Every business owner must begin somewhere.

We can start small and began as a freelancer to learn as we make the smooth transfer to the right side of the cash flow circle. But we soon realized that something needed to change if we wanted to really improve both our company and ourselves.

We have to acquire new abilities in order to go from living from the left side of the cash flow circle to the right side of the cash flow circle successfully. Meaning that we are thriving through our income thatches from our asset column which is bringing passive income and capital gains income.

The ability to sell

We need to improve our selling skills first in order to become a wealthy entrepreneur and master investor. We are aware that we could acquire the abilities we need to increase the revenue of our company if we learn how to sell without selling using systems.

Joining affiliate programs and start to sell those products through marketing channels with sales funnels is a great step towards building total freedom from controlling assets that are sound.

These early investments in ourselves directly contribute to our current selling power.

The ability to guide

Secondly, we are aware that hiring staff would be necessary as our business expands. Managing oneself is challenging enough, let alone managing others. Mastering the art of leading, managing, and multiplying people is one of the most challenging phases of growth for a wealthy entrepreneur. But if we get the hang of it, we can really go huge. Business is all about people at the end of the day, the better we are at leading others by first having control over ourselves then we can win at the game of money.

A common mistake made by entrepreneurs is to believe they are the only ones with the answers and that they must handle everything. They don't put their business in the hands of strangers. In all likelihood, we are not an expert at all, and we are not able to accomplish anything.

We should be concentrating on the one or two abilities that we excel at the most. A genuine entrepreneur expands both the company and themselves by assembling a team of specialists. Employees who we can rely on and who share our vision enable us to work on our business while working on it. Investing and business are team sports as wealthy people grasp.

Luckily our wealthy mentors made a significant investment in valuable leadership lessons that we have adopted within our products and services to keep it 100% authentic. We are persuaded by them to recognize the value of having a coach and mentor regardless of how successful we are.

The ability to master oneself

But command of oneself was the most crucial ability we need to acquire.

Being self-aware entails being able to regulate our body, mind, soul, emotions, and fears. We have the power to rule the world if we can learn to master these skills and control ourselves.

We loose each time we allow fear to take hold when our cash flow statement didn't appear encouraging. We lose every time we fell into the trap of working in our business instead of on it.

The majority of entrepreneurs have specific triggers that literally make them lose it—self-control being that "it." Money is a factor for many. The limbic region of the brain takes command when the money runs out due to fear. Then they act irrationally. It's the same as when a caveman had to run for his life from a saber-toothed tiger. We become irrational and cease to think.

However, we are composed of a body, mind, spirit, and emotions. This most important ability is developed when we take the time to nourish these elements of ourselves.

Have the guts to start

The bravest thing an entrepreneur can do, in the end, is to accept failure. An entrepreneur gains the most important life and business lessons from failure.

They accept and acknowledge that failure is a necessary part of success.

If we want to start our own business, we must be prepared to fail. We must possess the bravery to act despite our ignorance, ignore the important things, and keep on in the face of insurmountable challenges.

We need to gain more self-control and skill before we can act.

Acquire knowledge from our errors. Grab the opportunity to increase our level of financial knowledge and proficiency. If we are successful, celebrate our achievement. Before we can genuinely experience the sweet taste of success, we must endure a great deal of bitter difficulties.

What keeps us from doing it?

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