If you’re one of the 2,000 people who joined this newsletter from this LinkedIn post, here is the list of 200+ business ideas I promised you. Enjoy!
Before we dive in, a sponsored post:
As you know, we’ve got 18 employees working at our self storage management company who live in the Philippines. We sourced and hired all of them through SupportShepherd.com. and it has been a game changer.
They do customer service, collections, data entry and even direct customers around our properties to find their units. They are incredibly valuable members of our team that allow us to offer 24/7 service (and more reps) at a low overhead cost. Each employee starts at about $800 per month or $5 per hour.
I’ve personally convinced about 10 of my friends who are business owners to make a hire over there in the past year, and they all have told me it has changed the trajectory of their business and their life. Check out Shepherd today.
I have a little reminder on my bathroom mirror that I look at every day when I brush my teeth:
“Change your mind about something today.”
My goal is to do the work to form strong opinions, but hold them loosely. Change my mind often. Search for what is correct vs what serves my ego.
I released a podcast episode today on this subject and I honestly think it’s one of the most important messages a business owner or manager can grasp. Audio here. Video here.
Here are 10 things I’ve changed my opinion on over the past 2 years:
1. Being an entrepreneur isn’t the best path for everyone
I’ve met more and more entrepreneurs who are stuck, tied down, desperate and devastated (if they fail).
Now I believe a rewarding career with work-life balance is often a way better life than most founders lead.
2. Sweaty startups come with serious risk
The risk a founder finds themselves 45 years old, with no wealth, working with their hands 70 hours a week is real and it is one of my greatest fears as I promote this style of entrepreneurship.
Delegating isn’t something everyone can do. And without it any business becomes a “job”.
Most people simply don’t have what it takes. They don’t have the guts or competence to delegate. They can’t make good decisions. They can’t price their services and sell them to customers willing to pay top dollar. And it gets hard to grow.
3. Money isn’t everything
Once you have enough its a very small part of it all.
But way too many entrepreneurs are stuck in a never ending cycle of chasing that next “level” because they meet richer friends and try to keep up.
Ego is a killer and leads to unhappiness.
4. Entrepreneurs are addicts
Many of the most successful ones take it to an unhealthy level. No hobbies, no relationships, a broken family, unhealthy mind and body.
Are they really successful? Why do we idolize them?
5: Not everyone has the “happiness” gene
I used to bang my head against walls trying to figure out how to make everyone happy.
It’s not possible. You CAN’T make everyone happy. And some people are impossible to please.
And their attitude is contagious. Cut out the “crabs in the bucket” as soon as possible. Ignore them. Go chase happiness.
6: Trends take hold really fast
The people who wait 6, 12, 24 months before acting miss the boat.
The people who second guess, doubt, or wait for certainty miss out almost every time.
7: Competence doesn’t mean success
The most successful folks have energy and they aren’t insecure.
They put themselves out there and don’t mind being uncomfortable.
So much talent is wasted because of insecurity.
8 Ideas are worthless and execution is everything
Business is just like a sport. It takes thousands of hours of practice.
Experience matters. Start an easy / low risk / small business first because you don’t know what you’re doing and you will make mistakes.
9: I have a lot to learn
It’s easy to have a bit of success and think you can’t go wrong. That everyone else is an idiot.
Sharing so much stuff with so many smart people has made me realize how little I know and how many blindspots I have in so many areas of business and life.
10: Delegation is everything.
To get leverage and make real money you need to learn to delegate two things:
Tasks and DECISIONS. Most people never make it to decisions but it’s the key. I have this video with a LOT OF INFORMATION on delegating which you should watch: Click here. Prefer Audio? Click here.
Nick