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The biggest mistake people make when they decide to start a business is that they start too big. They invest everything they have in one idea, and hope everything goes well.
This is setting you up for failure.
If you look at the best investors, they spread themselves out. They invest in many little projects and whatever starts to take off is where they put their concentration.
You don’t have to have a lot of money to start investing in your own business. In fact, you can start any business for under a hundred dollars but testing the waters and slowly growing into something bigger.
On the off chance that you do have a lot of money to invest in something, don’t throw it all at starting a project. Take a good chunk of money and use it to educate yourself. In order to truly be successful you have to understand every part of the industry you are going into.
Without the knowledge to succeed, you can’t succeed.
On this episode of The Tai Lopez Show, Tai sits down with Zach and Rome to discuss various ways you can begin an entrepreneur endeavor. They also discuss current politics, sports, and dive into Zach’s love life.
Download this episode today if you want to learn how you can start a business on a shoestring budget and how you can start being your own boss instantly.
You can get anything you want, you just can’t get it instantly... But you can build up to it.
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The Cliff Notes:
- Find ways to scale down your first business idea.
- Don’t get too ahead of yourself.
- Starting a business has a learning curve.
- You can test any business idea for under $100.
- The business industry is saturated.
- You have to learn history so things don’t repeat.
- Statues aren’t our biggest problems in this country.
- The civil was caused by an extreme divide - are we close to that?
- Wherever there is ignorance, there is more crime.
- We need to fix our hospitals.
- There are too many people falsely imprisoned.
- No other country has as much college debt as the US.
- Obesity is on the rise, and more children are becoming pre-diabetic.
- The media focuses on headlines that sell, not the important news.
- In in seven men and one in four women have mental impairments according to the APA.
- Procrastination is solved by ambition.
- To increase your motivation, increase your vision and imagination of the future.
- Imagine for half the day, then make things happen the other half of the day.
- You need to be logical about if you really know your field.
- Most millionaires are not super intelligent.
- Watch the movie Wind River
- People who succeed in life are those that use their time efficiently.
- Women like a man with ambition.
- A lot of people get married to a business idea before they date it.
- Most people get good at the wrong thing.
- On people’s death beds most of them regretted either their career, their educational major, or who they married.
- Don’t marry the first career that comes along.
- A good investor throws enough nets out that one of them pays off.
- The most revenue generated comes from real estate.
- Tai got into Real Estate with less than $100
- 70% of all billionaires were in sales at some point in their career.
- You can’t be afraid of testing things.
- Use your money for the educational side.
- If you don’t have the know how you will fail.
- The business Zach would start if he could would be a production company.
- Studies show porn lowers crime against women.
- If you take away guns, people find other ways to kill people.
- It doesn’t stop people from killing other people.
- The biggest mistakes come from not being able to read people.
- Tai thinks people should take a psychological test before running for president.
- Being good at Google is an important skill.
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The Millionaire Next Door
Mathematics and Sex