098. The cold hard truth about starting a business…
Aug 13, 2024
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Bedros Keuilian, an entrepreneur and motivational speaker, shares the unvarnished truth about starting a business. He highlights the loneliness and doubts that accompany the entrepreneurial journey. Bedros discusses the need for resilience and the importance of embracing struggles, offering insights from his own experiences in the fitness industry. He also critiques the crowded marketplace and shares lessons on personal sacrifice, emotional hardships, and the vital role of self-mastery in becoming a successful CEO.
The reality of entrepreneurship involves facing significant hardships and sacrifices, contrary to the idealized portrayal by so-called 'gurus'.
True success in business often stems from years of struggle and resilience, rather than immediate financial gains during initial phases.
Deep dives
The Reality of Entrepreneurship
Starting a business is often portrayed as an easy pathway to wealth, but the reality is much more complex and challenging. Most individuals enter entrepreneurship with an unrealistic expectation of immediate success and enjoyment, particularly influenced by so-called 'gurus' who mislead them. In truth, the path of a CEO involves not only a commitment to hard work and sacrifice but also facing numerous adversities, such as personal drawbacks and societal skepticism. Recognizing that entrepreneurship requires grit and resilience is essential for those aspiring to accomplish meaningful successes.
Understanding the Cost of Success
Achieving business success comes at a price, often much higher than anticipated. Many entrepreneurs experience financial strain, particularly in the initial years, where operational costs, hiring expenses, and marketing efforts can overshadow income. The journey may lead to sleepless nights, sacrifices of personal time, and unprecedented stress in both professional and personal realms. Those who thrive must understand that the tangible success they see later often stems from years of struggle and hardship, not instant gratification.
The Value of Experience over Revenue
In the early years of a business, revenue does not always translate to profit, and entrepreneurs frequently find themselves in debt despite generating sales. Instead of monetary gains, new business owners often accumulate invaluable experience, skill, and intuition through their journey. This experiential learning shapes their ability to navigate future challenges, nurturing resilience and deeper understanding of their field. Ultimately, the development of such qualities and knowledge is presented as the true profit of the initial entrepreneurial phase.
The Loneliness of Leadership
The role of a CEO can be an isolating experience, often filled with heightened stress and overwhelming responsibility. Leaders must confront crises directly, with the buck stopping with them when things go wrong, leaving little room for delegation in times of turmoil. The entrepreneurial path demands that individuals possess a robust support system, including believing friends and family, who can provide encouragement amidst the inevitable hardships. To succeed, leaders must be prepared to manage not only their time and resources but also their emotional well-being throughout their journey.
In today’s episode I’m sharing the cold hard TRUTH about starting a business. Things that these internet “gurus” and business books can’t teach you. So before you go all in and start that new business, watch this video to get an understanding of what to look out for!
BEDROS KEUILIAN LIVE 2024 | September 13-14, 2024 in Scottsdale, AZ
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