We‘re always brainstorming ideas, yet we frequently find ourselves with limited
resources to execute our “extraordinary” dreams, don't we?
Believe me, I know everything about the “no-money” mindset. For years I struggled
with this painful scarcity, in my head.
It took me multiple years to realize that this “no-money” mindset was just another excuse to avoid potential failure. Ultimately, I was evading taking accountability for my entrepreneurial success.
I remember how I found myself regularly absorbed by the “blame game” in my brain: “I hate it; we’re forever stuck in this bad economy; when will this change?” “It’s impossible to compete in this marketplace; those competitors don't play by the rules!”
“My professors aren’t teaching the classes correctly. I don't understand anything!” “My parents don't support my dreams; how can I ever do this alone?”
We’ve got to be careful when we fall into these victim-mode thoughts. I have discovered that these are very commonly a subconscious state of mind. These excuses become the perfect way to justify society and the world around us, our failure to overcome challenges in life.
MY CHALLENGE FOR YOU TODAY:
“If lack of capital is what’s holding you back, wake up! You just have a
How long, my friend? How long will you keep waiting to find the capital your startup idea needs? Be honest, are you making daily progress?
Do you even have a business plan? A sales pitch? Or are you simply sitting there “licking your wounds?”
I can help with some good excuse ideas! Over the years I developed an honorary Ph.D. in “excuses.” Let me share with you a good one: Blame COVID-19! I mean, really, that’s just a perfect way to explain your defeat, isn’t it?
So, what's next? Give up? Game over? Ask yourself, could you possibly be playing the “blame game,” just like I was?
What’s behind your lack of action? What’s the real cause for you remaining stuck? Self-awareness is needed here!
Feel uncomfortable? That’s great news because you could stay stuck in this “blame game” forever!
There’s a popular fable that tells how a frog, when put suddenly in boiling water, will instinctively jump out, but if the water is brought slowly to a boil, the frog will not perceive the danger and will be cooked to death.
“But, Shueib, you don’t understand! I have the perfect billion-dollar idea. I know this will be the next unicorn. I just need someone to introduce me to Elon Musk.”
Ok, maybe you do have the next billion-dollar idea, but recognize that
if you’re not able to execute your marvelous idea, you MUST move on
until the right time comes.
To answer this question, how can I start a company with no capital?
1. Creativity is free! No money needed to invent something.
Intellectual property and trade secrets can be very valuable.
Patents, trademarks, copyrights, etc.
2. Discipline is free! No money needed to create your personal brand. Educate yourself. Share your ideas with the world through social media. Write a book. Create videos. Work your way into the thought leader space. Eventually, your name will be valuable.
3. Excellence is free! No money needed to standout. What are you known for? Michael Phelps’ net worth is estimated to be around $55 million. Gold medals and lucrative endorsements helped build his wealth.
4. Self-Education is free! No money needed to grow your expertise in one of the many present-day technological shifts. The power of self-education is all over the web. Think about this: coding skills, expertise, and creativity helped “Satoshi Nakamoto” to create Bitcoin —from nothing! Nakamoto is believed to hold up to one million bitcoins, with an estimated value of approximately $12 billion USD (as of August 2020.)
5. Coaching is free! There’s no money needed to do consulting gigs. Your life experiences and experience can be very lucrative to you for many people who are willing to pay for it.
6. Thinking is free! No money needed to solve problems. The use of your knowledge is free! Knowledge is of more value than gold in the Digital Age.
Remember the story of the technician who walks into a factory, replaces a screw, and charges $1,000 for the job? “Why?” the manager asked. “One thousand dollars for a screw?” The technician answered, “Yes, that was one dollar for the screw and $999 for knowing WHICH screw to replace.”
br Thomas A. Edison said it best:
“Opportunity is missed by most people because it is dressed in overalls and looks like work.”
My friend, nothing ever happens without action. No
action, no progress. No progress, no growth. Get
started today. Stop blaming the chaotic world we
live in. I’ll let you in on a secret: it won't get any
better anytime soon.
It’s entirely up to you and me to take life by the horns and make it better!
MOVING ON TO 'HOW DOES ONE CREATE A SUCCESSFUL STARTUP?
Think big, start small, act fast. Knowledge is not as useful as you might expect. Rather than knowledge, you need mindset. The way you think will determine your rate of success. Enough and a lot has already been said in blog posts, books etc. such is Market research, Market validation, Traction or taking the word out, Tuning & analysis, Growth and a lot more. I have never founded a successful company but tried a lot, such failed startups I founded are FIMHO (Find My Home) back in 2017, My Space of 2019 now being re-engineered and called OpenOffice, this one is among the 3 companies I goal to make it stable by 2025.
Back to the story, two things are essential yet ignored much, First if you want to build a successful company, then put the right people around you. Not just co-founders, but employees and mentors as well. Ask yourself: Who’s influencing me? Who’s helping me? That’s all that matters. There are thousands of startup lessons to learn. The only way to learn the right ones is to have the right people to learn from. The second part? You need to sacrifice your ego. Admit you don’t know what you don’t know. That way, you’re humble enough to learn from them. If you can do that, then you have a bulletproof strategy. You may not create a successful startup on first try with it, but if you keep going - I promise you’ll make it.
Last but not least, here is the biggest lie society has taught us to believe, "Work hard and you’ll achieve financial freedom.”
Yes, it’s a popular belief that hard work pays off. And it does. In fact, hard work is non-negotiable. But… there’s a LIMIT to hard work. We all have the same 24 hours in a day, and I can guarantee you will meet these limits EVERY single day. But, if Jeff Bezos grew his net worth by $75 billion in 2020 - does that mean he worked 1,000,000 X harder than someone making $75K a year? Obviously no!
So yes, there’s hard work, but hard work will always face our human limitations. Then, there’s smart work, where there are no boundaries! If you’ve hit the “roof” of hard work, you will only find further growth until you change HOW you work. Yes, work hard, but stop trying to “work” your way to wealth. Financial success is found in working smarter and that is only found through the experience and wisdom of others. Leveraging other people’s knowledge is your shortcut to make a good living. In simple terms, make friends with books.
A Message from the Writer, Shueib Ali
My message is simple if you are reading this, Don’t wait until you “feel ready” or unti you feel “competent” to do something worthwhile. If you’re capable of doing something valuable (public speaking, writing a book, starting a business, talking to an attractive stranger), you will get competent as long as you take action. Two advices I wish I have been given before my entrepreneurial journey:
Call somebody up and pitch them an idea, product or service and you’re the annoying pest. Get somebody to call you and you’re the welcomed guest. Choose wisely. Second, you don’t want to be the guy who knows ONE way to get 100 clients. You want to be the guy who knows 100 ways to get a client. I wish you all, good health and the best in whatever you are doing. Support the Journey and we will surely make it.