In this transcript, Clay Clark (US SBA Entrepreneur of the Year) discusses where to start: five vehicles to choose from when starting a business on Thrive15.com, one of the best business schools in Michigan!
All right, today we are talking about where to start. Perhaps, you've thought about starting a business. Today, I just met a guy in this hotel who was one of the bellmen. He's super nice guy. I'm not really sure where he's from. Based on his accent, I'm pretty sure he wasn't from Texas. He's a guy who wants to start a business. That's me coughing. He wants to start a business. He really doesn't know where to start. He was asking me, "What is Thrive15 all about? How can I start a business? I'm a bellman. I don't have a lot of cash. How do I start?" This message is for you, my friend. If you're watching this and you're limited on cash, and you want to start a business, I'm going to teach you specifically what you need to do, specifically where you can start and grow this business idea. Where you can take the idea and turn it into reality. Here we go.
Where to start: There's 4 vehicles to choose from. I say vehicles. What am I talking about? When I talk about a vehicle, I'm talking about, traditionally, when you get in a vehicle, you hop in a car, let's say, and you go from here to there. That's the goal, right? The goal is to go from here to there. That's what a vehicle does. Maybe some of us have a car where we want to get from here to there, we want to look sexy or cool while we drive from here to there. I'm 33 now, I'm a grown man. I'm not really worried about whether I look sexy or cool. I'm confident that I don't look sexy or cool, but the point is, I want to get from here to there with my vehicle.
With business, a business just exists to help you go from where you are today to where you want to be, okay? From where you are to where you want to be, from here to your goal. The whole point of owning a company is to help you get from here to there. A lot of people though, make a mistake of saying that their business itself, owning their own business, is, in fact, the goal. Owning a business should not be your goal, because all you have to do own a business is to file an LLC or to file legal documentation and to form a company. That should't be your goal. The goal should not be to work for yourself. The goal should be to move from where you are to where you want to be.
Before we do this, we need to ask ourselves, what are our goals, okay? What are our goals? I bring this up every time we do Thrive episodes. I want to make sure you hear me again. You to define your goals in terms of your spirit, your mind, your body, your relationships and your finances. These are your goals. You need to figure out: What is my spiritual goal? What's my mind goal? What's my body goal? What's my relationship goal? What's my financial goal? Then your business should just help you to achieve those goals.
If you have a business that you start that leaves you spiritually devoid, mentally struggling, you're physically out of shape, you don't have any relationships and you're not making any money; what are you doing? The purpose of a business is to start a business to help you go from where you are to where you want to be.
Let's hop into vehicle number 1. The first vehicle is that of the employee. The employee: this deserves its own page. I'm going to do The Employee. Whoa! I want to make sure everybody knows, I don't have a degree and so things like paper flipping can be challenging for me. I don't have a degree. I rely on just natural instinct when I flip the paper. Sometimes I don't even know how I do it. I don't know how I get through every day without a degree.
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Here we go. The Pro and the Con. Again, the employee, it's just a vehicle. Right now, you have a job. Why do you have a job? Why do you have job? Why don't you just stay in the living room and live with your parents? Why don't you just collect food stamps? Why do you even work at all? What's the point? I would hope that the point of you having a job is to help you get from A to B, right? What are the pros and the cons of being an employee? The pros of being an employee is that you don't have to hunt. No hunting.
Every day as an entrepreneur you wake up with the sense that your hair's on fire and that you're being chased by a savage animal that's trying to kill you. It's like you're out of a cage and there's a big viking out there who's trying to kill you and there's a big bag of money you're chasing. The whole day you're trying to chase after the bag of money while running faster than the viking. It's this whole thing where you're constantly stressed out sometimes because you're out of the cage. In the cage there's comfort, right?
As an employee, I call this the Wage Cage. Here's the visual on this. If you're inside this cage, one is, if you're an animal inside a cage, you are little bit more safe, as a general rule, because you're in the cage so you can't really get inside the cage because you're in the cage. You can't be hunted. You're like you're in the zoo. Animals in the zoo have very low risk of being hunted, but they're in a cage.