Build the Business You Want Because Nobody Is Going to Pay Your Bills | Entrepreneur (2024)

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Entrepreneurship is an amazing opportunity to create a business which allows you to be in control of your life. You can create financial security and not deal with the stress of living paycheck-to-paycheck. You can experience true time freedom in which you wake up each day and spend your time on the things that light your soul on fire. You can make an impact in the lives of those your business helps -- you can help solve real problems.

Along the way, there are other factors thrown into the mix that complicate entrepreneurship. It can be clearly identified issues such as a lack of cash flow, having the wrong team, dealing with the wrong customers -- the list can go on. But some silent, less obvious struggles are what hurts the most businesses and entrepreneurs -- without them even realizing it.

If you spend any amount of time on social media, you're likely to see a post from an entrepreneur making fun or taking shots at people who make money teaching other people how to make money. You'll see entrepreneurs complaining about how other entrepreneurs market their business, how they build their email list, what they create content around and 100 other complaints. You'll see entrepreneurs taking shots at how various other entrepreneurs generate income and their business model.

Here's the thing: when you see these types of threads -- and all the other people jumping in and agreeing -- it affects you in ways you don't realize. You start to think that you need to change what you do or change the way you operate your business. You overthink and become timid. You stop doing all the things it takes to help your business grow. You let their words get into your head and cause doubt, fear and a general negativity that will affect the action you take.

When you question whether they're right, you start to feel you might be wrong.

While it's always good to re-examine your strategies in your business, there's a difference between an audit and caving to unnecessary pressure and drama. Don't let anyone dictate how you live your life and build your business. You can easily become a prisoner to what others think you should be doing. This is your life and you only get one of them. You are building your business and no one else is going to pay your bills. Stop letting other people or entrepreneurs take away your power!

Related: How to Handle Social-Media Criticism

Entrepreneurship is not a one-size-fits-all opportunity.

I'm currently in Medellin, Colombia. Wherever you drive here, you see micro-entrepreneurship. It can be the street performers doing their thing at traffic stops and collecting a few pesos. Or, entrepreneurs walking around the tourist areas selling all manner of things. In a culture like this, entrepreneurship is one of the few ways to survive because traditional employment is not an option that can support their family. It would be easy to sit back and judge how they make a living but they couldn't care less. They understand what they need to do to pay their bills.

Related: My Biggest Mistake: One Size Doesn't Fit All

Appearances don't equal income.

For many of us (I'm throwing myself in there), sometimes appearances are more important than actually making money. What you need to understand is that people will be quick to judge and make fun of what you do or how you do it, but they won't pay your bills. They won't bring you new customers or help you when you need it. If you are using strategies that work and are honest, boldly do what you do. Nothing anyone else thinks is important if what you're doing is growing your business by bringing real value to your customers.

Successful entrepreneurs don't waste time comparing. They don't get caught in online drama. They don't care what anyone else thinks. They don't let anyone else dictate their next moves. They put their head down and do the work. Period. They stay focused on what it takes to achieve their big goals and dreams. No one else is going to pay to support your lifestyle.

Related: Here's How Much Money You Have to Make to Be Satisfied and Happy

Whatever business you operate and however you build it, boldly do what makes the most sense for you. Be honest and real. Add real value to your customers. Sometimes people are better at teaching than they might be doing. If you are getting results and deliverables for your clients, keep doing you. If you aren't, that's a different story and you need to go back to the drawing board. Don't let what others think and say take away your inner power and strength. Build the business you want.

Build the Business You Want Because Nobody Is Going to Pay Your Bills | Entrepreneur (2024)

FAQs

How to become an entrepreneur with no money? ›

How To Start a Business With No Money
  1. Keep Your Day Job. ...
  2. Choose a Business Idea That Doesn't Require Upfront Capital. ...
  3. Perform Market Research. ...
  4. Write a Business Plan. ...
  5. Wear Many Hats. ...
  6. Run a Trial. ...
  7. Scale Up. ...
  8. Use Free Resources.
Dec 12, 2023

How do entrepreneurs pay their bills? ›

But if you have “enough” to give funding yourself a go, it might be a viable option. Funds from another company you're running. Often, founders use their freelancing or agency to fund their lives until their business is up and running.

What is the cheapest most profitable business to start? ›

Low-cost business ideas with high profit potential
  • Launch an online store.
  • Offer online tutoring services.
  • Participate in affiliate marketing.
  • Launch a marketing consulting business.
  • Sell branded merchandise.
  • Become a personal trainer.
  • Produce online courses.
  • Start a dog-walking or pet-sitting business.
Jan 25, 2024

What is the easiest business to start? ›

Easy-to-start small businesses
  • House and pet sitting. ...
  • Tutor. ...
  • Personal assistant. ...
  • Dog walker. ...
  • Airbnb host. ...
  • Sell baked goods. ...
  • House cleaner. ...
  • Car washer. Car washing has long been a source of fundraising for high schoolers, but it can also work as a business for adults too.
Mar 25, 2024

Where do most entrepreneurs get their start-up capital? ›

Types of startup business funding
  • Personal business loans. ...
  • Friends and family. ...
  • Self-funding. ...
  • Venture capital. ...
  • Angel investors. ...
  • Small-business grants. ...
  • Crowdfunding. ...
  • Business credit cards. Financing your startup with a credit card can be an option when you haven't been able to secure cash through other means.
Jan 29, 2024

How do you get paid from your own business? ›

As a small business owner, you can pay yourself through an owner's draw, salary or combination method. Owner's draw: This allows business owners to pay themselves without issuing regular paychecks or withholding employment taxes.

Where do entrepreneurs get money from? ›

Entrepreneurs obtain funding for their ventures from different places. They often use their own money when first starting out. Family and friends may help with some financing in the early years of a business. Then, they may take on partners who are well capitalized and can help support the business financially.

What's the easiest business to start with no money? ›

9 Best Businesses to Start with No Money
  1. Content Creator. Whether you call it an “influencer,” “content creator,” or “social media nerd,” building a business around content can earn you, on average, $80K per year. ...
  2. Podcasting. ...
  3. Freelancing & Consulting. ...
  4. Blogging. ...
  5. Instructing. ...
  6. Coaching. ...
  7. Virtual Assistant. ...
  8. Virtual Event Planning.
Nov 27, 2023

Can I start my own business with no money? ›

It's possible to start a business with no money if you have an organized plan and strategy. Knowing what you'll need to do to get your business started is the first step.

What business can I start with 0 dollars? ›

Selling Your Talents
Personal trainerFreelance writingTutoring
Art lessonsBartending serviceMusic lessons
ConsultingSelling craftsResume writing
Jewelry designChef for hireInterior decorating
Knitting lessonsPhotographerYoga classes

How to start a business from nothing? ›

How to Start a Business From Scratch
  1. Start with a Good Business Idea. If you're wondering how to start a business, it may be easier than you think. ...
  2. Conduct Research About Your Business Idea. ...
  3. Write a Business Plan. ...
  4. Make Your New Business Official. ...
  5. Know Your Finances. ...
  6. Protect Your Business. ...
  7. Build Your Business.

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