This week’s top stories include small business advice covering the following four topics:
- 4 Unusual Side Hustles I Do to Earn an Extra $1,500 a Month
- Entrepreneurship, Becoming a Founder Might Be For You
- 3 Cold Calling Tips from Entrepreneur and Podcaster John Lee Dumas
- Shark Tank’s Kevin O’Leary Reveals If a Founder Has What It Takes With 1 Question
Each week we scour all the top business-related magazines and newspapers for articles with the best advice for the small business owner, so you do not have to.
4 Unusual Side Hustles I Do to Earn an Extra $1,500 a Month
Making of a Millionaire
Freelancing sometimes feels like cycling between feast and famine. Although I have enough clients to bill regularly to keep the lights on, I still appreciate having side hustles around as an additional income source for savings and investments.
Related Post: 6 Reasons Why You Need to Have a Side Hustle
If You Can Deal With These 4 Frustrating Parts of Entrepreneurship, Becoming a Founder Might Be For You
Entrepreneurship is not for everyone, nor is it an easy path to success. When it comes to the number of startups that achieve success, more than two-thirds of them never deliver a positive return to investors, according to the Harvard Business Review.
Now, in any other area of our lives, if the numbers were working against us so clearly, we’d probably take a hint. If, for example, I told you that if you stand in a certain place, there is a 66 percent chance you won’t survive, would you go ahead and stand there? Probably not. However, if I tell you that there is a 66 percent chance your startup will fail after years of hard work and millions of dollars of someone else’s money invested, for some reason founders still do what they do.
If the odds scare you away, entrepreneurship is likely not for you. With that in mind, here are four additional reasons that being an entrepreneur is not for everyone.
Related FREE Course: Exploring Entrepreneurship – Everything You Wanted To Know
3 Cold Calling Tips from Entrepreneur and Podcaster John Lee Dumas
When John Lee Dumans first thought of starting a podcast, he had the idea of producing one episode per day. His friends thought that it would be impossible to produce so many episodes in such a little amount of time. There weren’t examples of others attempting this because most people weren’t sure how an audience would respond to so much content every day.
Before John Lee Dumas published the first episode of his new show, he realized that he needed to find someone who could hold him accountable. He read up on how podcasts are made and tried to find someone with knowledge in podcasting like himself and ended up turning to a mentor who had already done what he was attempting to do. She was able to help him avoid pitfalls and everything clicked.
John Lee Dumans learned that he couldn’t wait until his podcasting skills were perfected before publishing. He knew he would have to start now and work on getting better over time, but he still put it off for months.
Then one day, he published his first episode with only minimal editing or rehearsal beforehand.
Now, the Entrepreneur on Fire podcast has garnered over 1 million monthly listeners and is ranked as one of iTunes top business podcasts in America.
Here are three takeaways from John Lee Dumas’s story that can be applied to cold calling.
Related Post: There’s No Such Thing as a Cold Call
Shark Tank’s Kevin O’Leary Reveals If a Founder Has What It Takes With 1 Question
Entrepreneurship is highly appealing, and yet the reality of it isn’t all that sexy–especially for those in the early stages of building a new venture.
Entrepreneurs face long hours. They miss soccer games on Saturday and family dinners on Sunday. Entrepreneurs miss many of the normal things that make other people’s lives normal. And while others slave away within the confines of the standard 9 to 5, founders are working around the clock, working twice as many hours as the employed and Elon Musk reportedly works 80+ hours per week–something those outside the startup world often don’t understand. After all, to many of those around you, you just work for yourself, right?
But it’s not just those looking at the empty seat at the dinner table that miss the understanding of what it takes to build a successful business–it’s founders too. And this is a key indicator of whether or not an entrepreneur has what it takes to persevere and succeed.
Related Post: What is Your Entrepreneurial Driver?
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