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Valuetainment

Episode 243: Why Most Entrepreneurs Fail - The Survival Phase of Business

Valuetainment

Valuetainment Episodes

Business

4.81.7K Ratings

🗓️ 9 January 2019

⏱️ 10 minutes

🧾️ Download transcript

Summary

Why Most Entrepreneurs Fail- Advice for new and established entrepreneurs from Patrick Bet-David. http://www.patrickbetdavid.com --- Support this podcast: https://podcasters.spotify.com/pod/show/valuetainment/support

Transcript

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0:00.0

30 seconds.

0:01.0

One time for the underdile.

0:04.0

Ignition sequence star.

0:07.0

Let me see you put them up.

0:09.0

Reach the sky, touch the stars up above because it's one time for the underdow one time for the underdow

0:17.2

I'm Patrick made to be a host of a team and today we're going to talk about why most

0:20.2

entrepreneurs fail the number one rule of a brand spanking new entrepreneur, the

0:24.7

brand spanking new person, someone that just starts a business, goes from

0:27.8

becoming an employee to becoming an entrepreneur. You took this risk, perfect. Your

0:31.6

number one outcome is to survive as an entrepreneur. There's a

0:36.0

reason why the graveyard of entrepreneurs is so jam-packed with billions of people

0:40.9

that didn't make it because of what we're going to talk about here today.

0:43.7

So remember, your number one outcome of an entrepreneur is survival.

0:48.9

Everyone knows you have a shot clock.

0:51.3

As an entrepreneur, everyone has a shot clock. What this shot clock is

0:55.5

your resources, how much money you have in the bank. If you got $60,000 that's going to

1:00.9

help you last 10, 10 months of you last 10 months of expenses

1:03.7

9 months of expenses 6 months of expenses. It depends on how much money you have here and that's your shot clock just like in basketball there's 24 seconds

1:11.8

Football is 35 seconds. You also have this. If you don't use the time that you have diligently to make your business survive, you will be out of business going back to getting a job because you didn't use

1:23.8

this time the proper way. So let's talk about that. A lot of times when somebody goes from

1:28.8

becoming a employee to entrepreneur there's two things that everybody must focus on as an

1:35.0

entrepreneur. Okay? One is front end, it's very simple. The other one is

...

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