Episode 97 – The Good, Bad and Ugly of Entrepreneurship
In this episode of Business Growth Time, The Good, Bad & Ugly of Entrepreneurship
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Time Stamped Show Notes:
2:09 – The downside of the business
5:27 – Ups and the good about the business
- Janet is investing more in Facebook Ads
- You can lose clients you can have clients pull back on you
- Janet had another side of business called her “online course” and is launching a Social Media Community
- We don’t work a job but we still have bills to pay
16:38 – Napoleon Hill’s book called “Think and Grow Rich” has great entrepreneur lessons.
- As personal development and self-improvement about the book “Think and Grow Rich”.
- Think and Grow Rich is such a powerful book by Napoleon Hill
- If you’re absolutely certain of where you’re going, what you’re doing, and why you’re doing it, decision making becomes a snap and you become really focused on what you’re going to do
- Then you know whether this is going to help you do that or not helped you do that
- People that are really decisive, make quick decisions or in a little better phrase, people that are successful make decisions fast and they leave that decision slowly
- Whereas other people make decisions really slowly, if at all, and they switch decisions all the time
18:03 – Terry & Janet notes on all Entrepreneurs
- If you know where you’re going, make the decision and stick to it
- Janet’s favorite phrase ” Just do it!”
- Janet says that “I really do believe that entrepreneurs need to fail, just take action and try it!
20:51 – Business Pieces of Advice
- If there is a problem you’d better be the first person telling your customer that there’s a problem.
- We make mistakes so if you can own it and talk about the solution on how you’re gonna fix it and make it better.
21:30 – Terry’s Pieces of Advice Entrepreneur
*If you were to do it all over again and you were to give advice to somebody, a brand new entrepreneur, what would that be?
- Make sure that you’re value-oriented, meaning what your values are and what you want to be. Figure out what that culture is and what that business is going to be like.
- “They say your vibe attracts your tribe.”
- Understand what it is that you do and how you want to be perceived in the world.
- More importantly, in terms of value-oriented, make sure that you provide significantly more value than you charge for.
- The people that you’re dealing with, feel like it’s a win every single time they deal with you.
23:50 – Janet Pieces of Advice on Entrepreneur
- Turn off the second-guessing yourself in your head. You tend to compare yourself to others
- You got to believe in yourself
- Understand the world of business
- Entrepreneur need to know how to run a business properly
- Knowing your numbers, knowing your write-offs, knowing the business side is something that entrepreneurs don’t realize until after they have started
- Trust your instincts and intuitions
Bottom line: Take action on your ideas!
That’s the good, bad and ugly of entrepreneurship
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