Things they don't tell you about starting a small business. This is Noelle Randall,
real estate millionaire, entrepreneur, speaker, mentor, mom of 5 and so much more
and in today's episode, I'm going to be talking to you about the things that people
do not tell you and do not talk about starting a small business.
I'm going to share with you all of the secrets, all of the mistakes and all of the lies. Let's go.
So, we are going to just get right into it because I know there are so many lies and things that
people tell you about being entrepreneur and I am here to tell you the truth. So, the very first thing
that I need you to know about being a successful entrepreneur, the multi-millionaire entrepreneur
that you strive to be, number 1, it takes time, okay? There are no overnight successes. This is
going to be something that is going to require you not only to put in time but to manage and
leverage your time properly. If you are wanting to be a successful entrepreneur, you are not
going to do this all by yourself. If you want to be a multi-millionaire with all of these
different things going on, you are going to have to manage your time, okay? So the first thing that
I want to talk about, it does take time. You're not going to build a business in a couple of weeks,
you're going to have to be committed to this thing for at least 1 year, okay, at least 1 year. When
this is what you're obsessed with, this is what you're focused on, this is you wake up in the
morning and go to bed at night thinking about your business, okay, and if you do this, I promise
you if you do this for 1 solid year, no distractions, don't start any other businesses,
don't get a job, don't start anything new but just focus on your business for 1 year,
I promise you, you can make a lot of money. When I took myself from my job and I just focused on my
business, I doubled what I made at my job in my own business, however it took me, all of me. It took all
of my time. I was not able to go to all of my kids games and talk on the phone and
watch TV and all of these things, I did not have a lot of free time. Every moment that I had
that was outside of the obligations that I had, you know, like take a shower and bathe my kids, I had to
be working on my business and again, if you do this for 1 solid year, if you just take the time and
you set aside time every single day for 1 year, even if it's just for 1 hour a day but every day
to work on your business, I promise you you will be successful. This is just like a guarantee because
they say where attention goes, it grows. So, if you put your attention to your business and you focus
on it, it will grow. But the 2nd thing that you want to know is you're not going to do everything,
okay? Like I said, you're going to spend a few hours a day or a week on your business, not every waking
hour that you're alive, you know what I mean? So, you are going to have to leverage other people.
For example, when I first got it started, I was not good at social media, okay? It was not
something that I enjoyed but everyone told me that I needed to be on social media and quite frankly,
they were correct. Now, was I going to try to learn every different social media or was I
going to focus on my real estate, okay? I was going to focus on my real estate because that was my
core business however I need social media done, I need people to post things so this is when you
would leverage someone else. You can find someone very inexpensively to do your social media. You
can buy people very inexpensively to send emails for you, you can find people very inexpensively
to answer your calls or even take your calls where they go to a voicemail and then you call them
all back at a certain time. You're gonna have to start managing out your time and then leveraging
other people's time and that is the only way you will be a successful entrepreneur. So, let
me get to the next thing because this gets fun. Number 2, systems matter. You will need a system.
You will need systems especially as you bring on other people. You need a system, you need a
process, you need a way that you do business. So, one of the things that's super important in my
business again, just using my businesses and I have 8 right now is, I have a system for how
I do things. So, for example if we're talking about just real estate and we're going to just use the
Airbnb business for example since we're in one of my Airbnb's. We have a system on how we put these
properties together. We have a system of where we buy the stuff for the properties, we have a system
or how much we will spend on items in our business, we have a system on what order we put the property
together. You kind of get what I'm saying so in the beginning, you won't have a system, that's just
not true. You can't just start a business and have a system but what you will be doing is developing
one. You will be developing your system, you will be developing your processes. This will allow
your business to grow, this will be allow you to scale your business. If you have no process, if you
have no system, you won't be able to bring other people into the business to grow the business.
So, let me be clear. One of the things and I'll show you how to do this. Like I said with the Airbnb's
was creating a system. One of the things that we needed to do in order to create a system for how
we put the properties together was to document it. So, just using as an example, this like I said that
we're in here, I'm in one of my big Airbnb's. This is a 6-bedroom, you know, 6 and a half bath, blah
blah blah. But what we did was we started with 1 bedroom, 1 bath Airbnb's and we documented
everything that we did. Step 1, sign the lease, step 2, turn the utilities on, step 3, get the
furniture order and then after a while you we start to have an order
and now we don't get the towels, you know, when we first buy the property. We may not buy the towels
until the very end. We have a system where we know whether to wash the towels before we put them in
the properties because we've gotten complaints from people that have used brand new towels and
got lint all over themselves. So, as you do your business, you will tweak and fix your processes
in your systems but one of the things that's super important in your business is that you
are developing them, that you have a system, that you have a process even when you don't, okay? So,
even if you're a brand new startup, you have a system. Write it out and then tweak it as you go
along because that's how you will be successful. Number 3, you have to be able to sell yourself.
And so this is going to hurt people's feelings but, rejection is going to happen and you have to
get good with rejection. Everyone is not going to accept your offer, you know what I mean? You know
how many people walk into Walmart and walk past all those different aisles and don't buy the stuff,
they can't take that as a rejection because they walk down all those different aisles and they
didn't buy anything or they only bought 1 or 2 things and there were thousands of things for them
to buy. Think of yourself the exact same way as Walmart. Every single product on every single aisle
is an offer, they are offering you to buy that and just think how many people walk by that stuff
and don't buy it. But then on the other hand, think about how many people do buy, that's the only thing
you should concern yourself with, okay? So in your business, you're going to be selling yourself,
you're going to be saying hey, I do x, y, and z and I'm the best at this and I do this really well and I
can do this really well and this is what I do and this is what I charge and you need to get
really good at that and it takes practice, it takes confidence. You're going to have to get in a mirror
and say these things. Start saying your elevator pitch, start telling people what you do and yes,
you are going to be rejected by some people and you don't care. You do not. Like I said, do you
think me today, multi-millionaire Noelle cares that a few years ago when I had events, people told me no
they wouldn't come. Do you think I care now? Do you think when I look out into an audience with a sea
of people? I remember when I was doing events at Olive Garden and I was just trying to get 15
people and couldn't get 15 people. I just had 7 people I had to talk to, okay? Rejection comes. Don't
worry about it, don't care about it, that's a part of your journey. I'm telling you we're literally
going to insert some pictures of some of our older events from 4 or 5 years ago, it's incredible.
Even events from 2 years ago versus right now, just know you are growing as an entrepreneur, your
business will grow, people are going to reject you but more people are going to accept you
than reject you, just like Walmart. Number 4, entrepreneurship can be very lonely so double down
on your support systems. I'm going to slow down and say this very seriously because I know there are a
lot of entrepreneurs that struggle with mental health. Now, I will be 100% honest and tell you I
am not necessarily one of them. I don't consider myself someone that struggles with mental health
but I will tell you a 100% honest, I was having anxiety attacks and I did have
to go see someone, a therapist to talk through some of my anxieties when I transitioned from
working full-time to a full-time entrepreneur. One of the things that was going really bad
for me was that I was making money but I was not making as much money as I was making from my job.
Now, you are pretty confident that I now make way more money than I did at my job but when
you first quit your job and you're not making the money that you were being paid from your job,
it can cause a lot of stress and anxiety and it was also causing a lot of stress and anxiety for
me because my husband had already quit his job and was working in the music business and he had
not made any money in months. So, it was even more scary for me when he's not making any money, I've
quit my job and now I'm not making nearly as much money as I was making before. But let me be clear,
it's worth it. You can find the support people that you need, you can find a support system and there
are going to be lonely days but I promise you, it's worth it. You will grow stronger, yes, there
will be crazy moments, you will be afraid, you might be a scared that something's gonna happen,
you are gonna hide in your room, I literally would draw the curtains, I don't know why I'm telling
you that I did that but I did. I literally would draw the curtains in my home and go lay in the
bed and put the covers over my head because I was scared. I had this anxiety that, you know, my I was
going to pay my mortgage late and they were going to come foreclose on me again and I was going to
lose everything and people were going to laugh at me and I was going to be back in my parents
basement again and just all of these fears and anxiety started to take over as I became the
entrepreneur that I needed to be . But this is why I am here talking to you, You can do it, those are
just thoughts, that's not real. Those are your fears coming out and you can overcome all of those fears
and you can be a successful entrepreneur. You have tons of people that are successful entrepreneurs,
people that are not very smart, people that are not very nice, people that are not very loving
and all these different things, they are successful entrepreneurs so, just know that you are loving, you
are smart, you are capable and those like us that are loving and smart and capable, we do very well
in business, okay? We are worthy, we deserve it and we just have to stick with it. So, yes, you will have
your lonely moments, yes you will need to start connecting with other entrepreneurs so you have a
support system but yes, it will be okay, that's what I wanted to say and I'm going to tell you the last
fun thing because this is a good one, which leads me to number 5, you will work hard but you will
reap many, many rewards. Entrepreneurship is hard work. You will put in work, but the great thing
about being an entrepreneur is once you build it, it's built and it will keep paying you in many
cases. There are so many things that I've done in businesses that I have built that I don't even
touch now. I don't have to call. I don't really have to go into the office. I don't have to talk
to people on a regular basis. Sometimes I just check in 1 time per month and that business
brings me in money every single month year after year after year because it's a business that's
built. Just think about. Do you think that the guy that started Walmart has to keep going to all
the Walmart's checking on them every single day? So just think of yourself the same way. Once you build
it, it's built and it can keep running without you having to do so much work that you did to build it.
Yes, you will take work running it but it takes more work building it than it does to run it
usually. I know in my case, it's a lot easier for me to run my businesses and it was a lot of work to
get them built and now that they're built, they just run and they make me money and that's how
I, like it so that's my lesson for you because it is super important. So, I have a special gift
that I want to make sure that you check out as an entrepreneur because it's so important that you
have a bank account as an entrepreneur. If you don't have a bank account, please check out
North One bank and get your bank account set up for your business in less than minutes, okay? This
is not something that takes a long time. North One is a digital bank that's all over nationwide. You
can access their ATM's, you can manage your money on the go, you can manage your money from anywhere.
You can even tie your bank account to your finances with your QuickBooks your FreshBooks,
your Wave, your PayPal. There's so many things that you connect your bank account with and North One
makes it so easy. Just make sure that you have a bank account because it is so important for
any entrepreneur and there's so many benefits to having a great bank account such as North
One bank. This is Noelle, I just want to make sure that you have all of the resources, all
of the tools and all the knowledge that you need to be successful. This is Noelle, to your success.