Alright Scott. So, why do people want to become entrepreneurs? -We have so many
great reasons. So many great answers. -we're gonna wrap this back because there's a lot of
reasons. -Rapidfire. -I am an entrepreneur. I'm going to tell you
why I love it. -I'm a business owner. -Alright. Let's
go there. What...? -Well because it's got such a pretentious sounding name to it.
And it sounds more important. Plus we've already talked about how some people are
just kind of working for themselves and their own business. And not necessarily
entrepreneurs. I know you've read books. What's the name of it? -The E-Myth
Revisited. -Although you didn't read it, you listened to it. But yeah. Why... Why do?
And I would just say right off the bat. This is just me. But I think people like
to be their own boss. They like to run their own show. They don't want anybody
tell anyone they got to be in or when they got to leave. They want to do their
own thing. -That's number 1. -Be my own boss. There it is. Rapid fire. Here we go. -Be my
own boss. Okay. So number 2. An innate desire to create. I believe that we all
have this desire. And maybe there's exceptions out there. But being a
business owner really allows you to create... When I... There was a short stint
where I had a sales job and I saw some things that the company was doing. And I
just like I had some ideas and I wanted to contribute and put these ideas forth.
And I... And I shared some of the ideas and it wasn't my place to share them. I was
put back into my place. I'm not meant to be an employee because I like to create. I
like to take my ideas and roll with it. And even though I make mistakes a lot
and even though a lot of my ideas crash and burn, some of my ideas have really worked
out well and it's really... -And now you have your own employees who probably
someday will be their own... -If they watch my videos and follow my advice,
absolutely. -They're watching them. They've got to watch them. -They edit them, they polish them. -Number
3. -Number 3. We want to become entrepreneurs because it's a challenge.
-Ooh! Do we need to be challenged? -I like... For
some reason, it's of a weird thing but I like to take the
hard road. Just discover that about myself. I like to do things the hard way.
It's kind of like it's... I know that I'm going to grow from it. I know that I'm...
-That's the word right there. Yeah, grow. Develop, change, improve,
progress. And all of that the kind of the opposition you find in the challenges
and the being wanting to be challenged. That does. It helps us. -I will not shy
away from the fact that I've had this company... We're approaching. We're at 9
years now. I think 9 years this month or next month. It hasn't been
smooth sailing. -Sure. -It's been a very rough road. Lots of ups and downs
financially. Lots of... Lots of stress at times. So much stress that I developed an
ulcer. -Mm-hmm. 0I don't know if it was exactly the
stress. But I've definitely experienced a lot of stress. So, why did I put myself
through that? Why don't you just get a job as a lot of people would have
recommended? -Good question. That's a great question. I argue with myself on
that almost daily. -And the next point here is a big reason, a big answer for
me. It's we don't want to settle. Honestly for me, getting a job is settling. It's
like settling for below my potential because I know that I can do more. I know
that I can achieve more things than just being... And I don't mean to insult people
that choose to be an employee. -Right. -But for me it's settling. -It's okay
to say that. I mean the question today is why do people want to become
entrepreneurs? Or why do they become entrepreneurs? And that is legitimate and
honest answer. Even though it may there may be others that are watching going, "I
have never felt that a day in my life.: Companies need employees. I love my job, I
love what I do. They pay me fair. You know what I mean? But for whatever reason
within you, you know, that's... That's your feeling that you just... It feels like
you're settling if you sign on with someone. Rather than being that signee. -Like
for example, a few years into my business. There was a time where financially hit
some hard times. Had to borrow some money from family. And I got posed that
question. "Why don't you just get a job?" And I look back at the previous few
years and just thought but I've grown so much, I've learned so much. I've
experienced so much. -And you paid them back?
-Of course. -Okay. I'm just saying. -And I've... And I... And I think, "But if I
get a job, it's like all these 3 years of hard work is wasted." You know?
It's like... That's how I felt. That's like... -It's probably not rational.
But you know you. I mean the fact is is you wouldn't... You wouldn't have wasted
anything if you had to have gotten a job, you could have. But luckily you didn't
have to. Things worked out beautifully. Alright, next ball. They go in freedom of
time. I mean that that's a big one. We get to control our schedule. -You've got kids,
you've got activities, hobbies, interests. You want to have... Yeah. -Like, I like to go
running. I like to go snowshoeing in the winter. And if I want to go... If it's... If
it's a hot summer day, I like to go mountain biking in the morning when it's
cool. And a lot of people, you know, they get up, they shower, they go to work. They
can't go mountain biking the morning. I get to. -Yeah. -Or if there's something
that my kids doing it at school. There's, you know, the spring program or whatnot. I
don't have to get time off or request permission to leave work or maybe
there's a doctor appointment or something that I want to do. I really
control my schedule. I have freedom of time. If... -Yes, that's true. To some extent, I
mean, you can say no and you can because no one's going to fire you.
However, you do have deliverables that are on a schedule. And you know, you have
places to be and stuff that... -If we're going to make a video about the
disadvantages of being an entrepreneur is you've got... You've got to be your own
boss, you've got to have the discipline, you've got to keep a schedule. You've...
-Yeah, those don't sound positive. -Let's move on. -You can make more money.
-Yeah. Higher potential income is the point that I made there. -Or at least
maybe not more but you have flexibility in terms of income. I mean you don't want
to make less. -So let's... let's be open here. The first 8 years of my
business had I been an employee, I would have made more money. 8 years. 8
years. But year 9? I don't think I would have ever made this much money as
an employee? I don't know what job I could have done. -Yeah. -Even if I were a
surgeon. -Yeah. I don't know. Maybe surgeons make good. I don't know.
-I don't know what surgeons make. They seem to make good money. Yeah.
So, the potential to make more money. It's true. You're really only limited by how
much work you put in or the connections you make or how much... People always say
that you can make as much or as little as you want. The realist in me says, "BS."
You know? Like, "Really. I can't make as much as I want but you you can to some
degree." I mean... You know, the sky is somewhat the limit. But in contrast to
that, there is a limit when you are an employee. There's always a limit. Even if
you become CEO and they pay you outrageous,
you know, ungodly amounts of money. A thousand times more than the average
worker where you are. It's still a limit. Because the board isn't going to... "Well,
giving them 30 million a year. And no more." I mean it's still a limit. So
technically. -Alright, next one. Tax advantages. Well, no we're not going to get
deep into this one but if you don't understand how beneficial these are, this
is this is quite amazing. Like this MacBook here, this is a business expense.
-Ofcourse. -I get to write it off on my taxes because I use it for work. My team are in the
Philippines. I just flew to the Philippines in background trip. I paid
for an Air B&B. -That's all work. All that business.
-All that stuff was a business expense. I got a write it off and it
doesn't count on my personal taxes. I let my accountant kind of take care of the
nitty-gritty of those those details. But I keep track of all my business expenses
and I get it right those off. You know, this this room of this house is
specifically used just for filming, just for my business. -So you can write off
the whole cost of the house. -Not the whole cost of the house. No. -He's like...
-She does the taxes. I don't remember what she does but, yeah. -Alright. This
one's important to me. I talk a lot about influence. As an entrepreneur, I put down...
I want to be an entrepreneur because I want the ability to influence. And this
one really hit home to me in a bigger way when I got to meet my team in the
Philippines. We were all sitting down together for dinner for the first time
having the whole team together and I just thought, "I never really realized how
much influence I have this group of people." -Yeah. You know, one
of them has been working with me.. for me for 8 and a half years. Many
of them for many, many years. And I just thought, "Wow. Like I'm the reason that
they're here in this room and I provide their livelihood." That's something
that I hadn't thought of before. Did you get it? -I think you might have brought
the snap from the Philippines. -Uh-oh. -It's like a fruit fly. Because there's
just a lot of little bugs there. -I didn't really see any bugs. Crawling on the ground but not
flying around. -Kidding I got him though, yeah. -Okay. Last one. Last point here. We
want to be an entrepreneur. What have I write? -Solve a problem. -What do you think
I mean by that? -I don't know. -You got a problem, you'll all solve it. -Check out
the hook while my DJ revolves it? -Ice, Ice Baby. -And that's game. Thanks for coming.
It was an elaborate way to get into a rap. -So, we create solutions right? If
there's a problem out there and we know a way of fixing it, we can create a
service, we can create a product to serve it. I think that's the reason why a lot
of people get into business. They see a better way of doing things.
-Yeah. -Maybe they were an employee of a company. It's like, "You know what? I
could do it so much better." So, I think that's another reason why we become
entrepreneurs. -Solve a problem. -So, I'm sure there's a lot more things we could
add to this list and so I invite you whether you're on YouTube or on LinkedIn
to leave a comment below about other reasons why you are an entrepreneur.
I think other people choose to be an entrepreneur and you don't. And we'll go
from there. We'll see you tomorrow.