Starting without money or a formal education, Brian Will – who calls himself a multi-millionaire dropout – founded six highly successful companies in four different industries. In this practical and engaging text, he shares his wisdom and experience so you can avoid the disastrous mistakes that decimate countless new business owners. The 37 business lessons he intersperses throughout the book are exclamation points for his useful, candid advice. Entrepreneurship is difficult and challenging under the best of circumstances, but you can ease your way if you heed the sage advice Will offers in this indispensable guide for entrepreneurs.
Asking the wrong people for advice sets you up for failure.
As a new business owner, you may turn to your family and friends for advice. But if those you consult aren’t businesspeople, or haven’t succeeded in the type of venture you’re pursuing, they could prompt you to make poor decisions. Without the correct information, you could make poor decisions and create a “negative or failure filter” in your brain that perpetuates faulty thinking. New business owners need input from people who can steer them in the right direction. Let the right people help you.
Owning a business and being self-employed are quite different. If your company depends on your participation, you’ve essentially created a job for yourself. Self-employment is not inherently bad – you can make a great living. But successful entrepreneurs create businesses that function well without their involvement in daily operations. If your ultimate goal is building value and selling the business, be aware that no one wants a company that requires the owner’s knowledge or skills. Dependency makes your business less valuable.