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Drawbacks of Starting a Business - Free Business Coaching Rob from Feedbackwrench

Published on: December 6 2022 by FeedbackWrench

Drawbacks of Starting a Business - Free Business Coaching Rob from Feedbackwrench

Drawbacks of Starting a Business - Free Business Coaching Rob from Feedbackwrench

you know i want to go negative just a
little bit here i have a pet peeve
not that you care not that that many
people see this but i have a pet peeve
now i'm an entrepreneur i'm a small
business owner and it's funny when i say
i call people entrepreneurs some people
cringe and they go oh that's such a
catchphrase that's a word everybody uses
it's like no
those of us that are entrepreneurs and
our business owners and have a cohort of
small business owners and we've started
something and we run an operation that
people depend on that's not a
catchphrase it's our everyday life i'm
not trying to act like i'm captain like
get it done or i'm any better than
anybody else but i got a pet peeve here
it's called monday morning
quarterbacking
risk nothing monday morning
quarterbacking
people being really smart
knowing about stuff right
so what is a monday morning quarterback
and how does it apply to business and
why should you keep listening to this
whole thing okay
a lot of you are really smart you went
to school you got decent grades and you
know a lot about something that's a lot
like somebody who's obsessed with nfl
football and you know a ton about the
players you understand the game you know
all the rules
but there's quite a big difference
between people that know about football
and people that actually play football
and then those who get played to play
paid to play at a high level
okay a lot of people look at an nfl
person and because they know how
something ought to be done they think
that they can get in and actually do it
and so the monday morning quarterback is
a term that you use when describing
somebody who the day after a game
has all sorts of advice for the people
who actually executed okay on sundays
when a football game is played in the
nfl generally speaking and your
quarterback the person who goes out
there and runs the team
runs the offense not the defense but the
offense right and they're in charge of
executing the plays and everything from
knowing the game plan to knowing all
these things about football but to
actually do
that thing that must be done in order to
win let alone just partikipate right so
not only are players partikipants in the
game which is better than people that
just know about it but they also have to
advance and get things done right
a monday morning quarterback is somebody
who sits back
and thinks that they know how to give
advice for people
when they've never done anything
government bureaucrats are huge at this
you have regulators they're big at this
you know a lot of people say that the
number one place where uh poor cpas and
bad tax accountants go as they go work
for the irs right that's not a shot at
you guys but let's just be clear there's
a huge difference in people who go out
and get it done
and people that just kind of know about
something and when it comes to small
business ownership
if you're calling a company like ours
and you have dreams to grow your small
business and you're looking for advice
you better come with humility right i
love toking to people that want to
dream i think there's a couple stages of
business ownership you start dreaming
about how you'd go out and solve
customer problems right and then you
start you've got to build credibility
and eventually
and i think you could read the book
e-myth right the whole idea is first you
become self-employed and suddenly you're
in charge of sales and execution number
two is you become a manager as you find
other people to help you work a little
bit more and you leverage other people's
um skills in order to actually get more
work done your revenue starts to go up
the stakes raise a little bit and then
eventually you become a little bit more
of an entrepreneur because you have
systems
and empowered teams that take ownership
and you work in your business because
you want to rather than because you have
to right
and so as you go through the e-myth or
the the journey of an entrepreneur and
as you move upward and forwards
if you're thinking if you're in the
dreaming stage it's worth dreaming about
you should do it but you have to build
credibility watch my other videos about
that but
if you call somebody or if you if you
have this idea and you start sharing it
and when people start poking holes in
your ideas
or if somebody asks you what have you
done and how do you actually get started
you better come with humility
in finding out
and gaining perspective about whether or
not your idea to solve customers
problems are a good idea
if you think that just because you
watched a lot of shark tank and just
because you've gone out and done some
sales or maybe you've
really known how the margins work within
your sector industry
is a completely different thing than
going out and getting sales and
executing and then slowly building a
system
don't be a monday morning quarterback
see the key is
is that
there was a time when even your veteran
high performance paid to play at high
level quarterback was new
right and the things that got them in
position was you had to go out and you
had to try
all of us started i played division one
football for i didn't play i was on a
division one football team for like half
a year played i was all state all metro
kind of all all second team all-american
offensive line
and something that
you come to grips with is that you have
to train yourself in order to get into a
position where you can really perform
well right so if you're thinking about
becoming a small business owner even
starting your own organization if you're
a non-profit or a church remember
there's a big difference between knowing
about something
and getting in the ring and getting in
the game and actually trying and now
what are you actually trying at and
that's the big thing that folks don't
understand the major difference between
somebody who works at a corporation and
somebody who becomes a corporation
somebody who goes out and helps
customers as part of a team and those
who set out as an entrepreneur or
business owner as an entrepreneur and
business owner has to get their own
sales you're in charge of twofold you
gotta find people to solve the problem
and get them to hand you your money or
their money and then two you got to
execute you got to do what you promised
you make promises and you fulfill
promises most of you are in the business
of fulfilling promises and it's a whole
other deal not only to know how to do
this but to try it okay
and so if you have a dream about
starting a business what i want you to
do is i want you to start trying
you want to start a business i think you
should get a job in the industry or the
sector that you dream about building be
there for two years number two i want
you to think about how do you get in
position
to take the risky step
because boy i tell you what um i can't
tell you how many times over the last
decade last eight years since i got
fired from eagle brook church since i
got fired from a job and i had to come
to grips with what was i going to do
how many times my wife and i looked in
our bank account there was 100 left
and then all of a sudden something
happened things happened god provided it
was good but i had a lot of learning
i've had a ton of tuition through this
whole thing and every business owner i
know
has a ton of tuition but one of the
things is you have to be in position to
actually make that change so you might
have to save up some cash might have to
pay off and live small
sell your car build up some cash so that
you can actually live on your own one of
the best things you could do is get a
job in the industry that you want to
start a business in and become a learner
out learn every single person ask
questions and be humble
have a humility about you to your
business owner to the to the president
to the ceo have a humility about you to
understand what's it like to actually be
in that position
one of the most difficult things in
humanity is that we only know our own
perspective right it's said that wisdom
comes from gaining god's perspective
wisdom is knowing how to choose and act
like god would have you to do or wisdom
in general would be to have good
perspective
on what things
on your current situation who you are
how you execute how you act with people
how you relate to others how you get
things done right you will become wise
as you gain perspective
and the only way that you can become
wise is to have a humility about you
that perhaps there's something you can
learn right and there's too many people
out there that want to start their own
business want to get started as their
own side hustle
and they think they know a lot about the
industry they're a good football fan
but they never go out and just start to
try so i guess that's my last little bit
of advice is you got to have humility to
learn you should go into the industry
and you should learn from all of those
folks and understand what's it like to
be the quarterback what's it actually
like
have coffee with them become their
mentor maybe don't tell them you're
thinking of becoming their competitor
but i tell you what if you drove up and
down the road here and looked at all of
the contractors all the small business
hvac companies digital marketing
companies most of them were started
even insurance most of those were
started by people who were once at
another business and what they did is
they just found a way to help customers
better and they eventually take that
risk but you have to be in position to
take that risk you know if you had a ton
of kids i don't know that i'd recommend
if you have a big house a big mortgage
and tons of kids you just quitting a job
and starting a business is foolish don't
do it
you can start a side gig as long as you
don't have a do not compete
don't don't do that if you work in an
accounting firm do not start doing work
on the side if you're not allowed to
but you got to start building some
credibility start getting some results
try some things
and have a humility to learn what's it
like to actually be in this business to
be that quarterback the best way to do
that is get perspective go interview
some other entrepreneurs be around a
business owner ask some folks out for
coffee digital coffee just call someone
call someone that you might know that
owns a business and say hey you know
what i'm really curious about some
things
i don't know anything about being a
business owner what's it like could i
could i pick your brain for 30 minutes i
won't waste your time i'll take good
notes i just want some perspective and i
don't know a business owner that won't
like okay let me find out a way to do
that right so if you want to start a
business that's what you should do
good luck have some humility about you
recognize there's a difference between
knowing about something and getting in
the game you can be a fantasy football
guru
and not be able to even partikipate in
the sport let alone compete at a high
level but you got to start somewhere so
the best way to do is to kind of get in
the game and start doing some side gig
work start building some credibility and
go out and get perspective so good luck
god bless
man i love watching entrepreneurs start
out there's nothing that gets me more
excited short of people like deciding to
place their faith in jesus um and it's
all right if you don't believe that
that's all right i i want you to someday
because he's real and he'll change your
life
he'll take you from cold hearted to
recognizing that
there's a good thing inside of you that
you should grow anyways
good luck god bless