hi I’m Evan Carmichael and welcome to another edition of ask Evan in today’s
another edition of ask Evan in today’s
another edition of ask Evan in today’s video I’m going to answer a question
video I’m going to answer a question
video I’m going to answer a question from one of our readers Nicolas who says
from one of our readers Nicolas who says
from one of our readers Nicolas who says thanks a lot for the inspirational
thanks a lot for the inspirational
thanks a lot for the inspirational quotes just to ask one question what are
quotes just to ask one question what are
quotes just to ask one question what are the risks in small-scale
the risks in small-scale
the risks in small-scale entrepreneurship and how do we as
entrepreneurship and how do we as
entrepreneurship and how do we as entrepreneurs manage them for the
entrepreneurs manage them for the
entrepreneurs manage them for the purposes of our business sustainability
purposes of our business sustainability
purposes of our business sustainability good day Nicolas so Nicolas I think the
good day Nicolas so Nicolas I think the
good day Nicolas so Nicolas I think the biggest risks that entrepreneurs face
biggest risks that entrepreneurs face
biggest risks that entrepreneurs face when they’re launching their business is
when they’re launching their business is
when they’re launching their business is losing everything and a lot of
losing everything and a lot of
losing everything and a lot of entrepreneurs will sell out all their
entrepreneurs will sell out all their
entrepreneurs will sell out all their savings and take on additional debt and
savings and take on additional debt and
savings and take on additional debt and you know market to their home and their
you know market to their home and their
you know market to their home and their business doesn’t work out they’re really
business doesn’t work out they’re really
business doesn’t work out they’re really left without anything I have to start
left without anything I have to start
left without anything I have to start all over again so that’s a pretty huge
all over again so that’s a pretty huge
all over again so that’s a pretty huge risk and I want to make sure that you
risk and I want to make sure that you
risk and I want to make sure that you guys don’t have to face that and a few
guys don’t have to face that and a few
guys don’t have to face that and a few ideas to you that hopefully will help so
ideas to you that hopefully will help so
ideas to you that hopefully will help so the first is you don’t have to start
the first is you don’t have to start
the first is you don’t have to start your business on a full-time basis it’s
your business on a full-time basis it’s
your business on a full-time basis it’s start card time and what that does is
start card time and what that does is
start card time and what that does is give you money from your current job and
give you money from your current job and
give you money from your current job and allows you to build your business up
allows you to build your business up
allows you to build your business up over time and hopefully you’re in a job
over time and hopefully you’re in a job
over time and hopefully you’re in a job that you can learn some skills or meet
that you can learn some skills or meet
that you can learn some skills or meet some people that will eventually help
some people that will eventually help
some people that will eventually help your business grow as well and it’s
your business grow as well and it’s
your business grow as well and it’s important that you take steps every day
important that you take steps every day
important that you take steps every day to grow your business so it’s not just
to grow your business so it’s not just
to grow your business so it’s not just spending three months going crazy
spending three months going crazy
spending three months going crazy full-time and then you run out of money
full-time and then you run out of money
full-time and then you run out of money you have to go get a job you’ll do
you have to go get a job you’ll do
you have to go get a job you’ll do better and spending a little bit of time
better and spending a little bit of time
better and spending a little bit of time every day over a longer period of time
every day over a longer period of time
every day over a longer period of time so you let that moment and grow and
so you let that moment and grow and
so you let that moment and grow and allows your business to flourish the
allows your business to flourish the
allows your business to flourish the second thing I would encourage you to do
second thing I would encourage you to do
second thing I would encourage you to do is try to build around a customer a lot
is try to build around a customer a lot
is try to build around a customer a lot of entrepreneurs start with a great idea
of entrepreneurs start with a great idea
of entrepreneurs start with a great idea that think it’s gonna change the world
that think it’s gonna change the world
that think it’s gonna change the world and then they go out and try to sell it
and then they go out and try to sell it
and then they go out and try to sell it and nobody wants fire so try to start
and nobody wants fire so try to start
and nobody wants fire so try to start the other way around try to start by
the other way around try to start by
the other way around try to start by finding customers who have a problem and
finding customers who have a problem and
finding customers who have a problem and are willing to pay for a solution for it
are willing to pay for a solution for it
are willing to pay for a solution for it if you can find those people it’s the
if you can find those people it’s the
if you can find those people it’s the best way to build a business because you
best way to build a business because you
best way to build a business because you have money coming in right away and
have money coming in right away and
have money coming in right away and reduce
reduce
reduce the risk of you run out of money having
the risk of you run out of money having
the risk of you run out of money having to close down your business so try as
to close down your business so try as
to close down your business so try as much as you can to find a paying
much as you can to find a paying
much as you can to find a paying customer to start the last thing that I
customer to start the last thing that I
customer to start the last thing that I would recommend is try not to spend
would recommend is try not to spend
would recommend is try not to spend money until you’re making money and that
money until you’re making money and that
money until you’re making money and that might sound like common sense but a lot
might sound like common sense but a lot
might sound like common sense but a lot of entrepreneurs do the exact opposite
of entrepreneurs do the exact opposite
of entrepreneurs do the exact opposite where they start a business and invest
where they start a business and invest
where they start a business and invest tons of money now go get an office you
tons of money now go get an office you
tons of money now go get an office you might need a car for the business you
might need a car for the business you
might need a car for the business you make up all these expenses that you
make up all these expenses that you
make up all these expenses that you think you need but in reality try not to
think you need but in reality try not to
think you need but in reality try not to spend anything until you have money
spend anything until you have money
spend anything until you have money coming in you may need business cards
coming in you may need business cards
coming in you may need business cards and a simple simple website but that’s
and a simple simple website but that’s
and a simple simple website but that’s it the rest is what equity is your time
it the rest is what equity is your time
it the rest is what equity is your time going now trying to find business and
going now trying to find business and
going now trying to find business and try not to start spending money because
try not to start spending money because
try not to start spending money because you’ll often spend it on the wrong
you’ll often spend it on the wrong
you’ll often spend it on the wrong things until you have money coming in
things until you have money coming in
things until you have money coming in and once you have that money coming in
and once you have that money coming in
and once you have that money coming in you know what’s working and you can
you know what’s working and you can
you know what’s working and you can spend money to amplify those results so
spend money to amplify those results so
spend money to amplify those results so I hope that helps if you guys like the
I hope that helps if you guys like the
I hope that helps if you guys like the video please give it a thumbs up below
video please give it a thumbs up below
video please give it a thumbs up below and I’ll make more
and I’ll make more
and I’ll make more and I’d also love to hear thoughts and
and I’d also love to hear thoughts and
and I’d also love to hear thoughts and feedback if you want to leave a comment
feedback if you want to leave a comment
feedback if you want to leave a comment and stay tuned for the next episode
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