You Need Money to Make Money

Photo by Karolina Grabowska on Pexels.com

Let’s break the myth about becoming wealthy. No matter what people say, you will always need money to make money regardless where you are and what you do. Life coaches and business millionaires love to give advice how to make money and how they became wealthy. The problem is that they usually start their story from when they were already wealthy. If you are completely broke, unemployed, single, living on social benefits, it’s impossible to save money to start a business. You also need FRIENDS. Nobody became an overnight success by themselves. You need money, customers, and business support to succeed. Kylie Jenner is NOT a self-made billionaire, she had seed money from her family to launch her make-up brand.

People who encourage you to quit your full-time job and “risk it all” shouldn’t give business advice. I tried to succeed ALONE without ZERO help and ZERO money and here I am, writing a blog that nobody can find because I can’t afford advertising. When I started writing my blog, I used WordPress’ free platform, but then soon realised I need a paid version to start somehow monetising my blog. I found a friend to invest the minimum seed money for my blog. Before that, I was searching online with a super nerd for FREE website platforms with online store features and surprise surprise, there are NONE. So forget about the advice that you just need to risk everything to become successful and you’re so brave if you do it alone without friends’ support. They are NOT your friends who give you this useless advice. They do not want to see you succeed. So here’s what you need to make money:

  1. A well paid job/ investor/ seed money from friends or family. If you’re working one day per week and suffered from many years of unemployment, forget about a bank loan. You need to get your seed money from the above sources and yes you need money. Everything costs money, when you want to become an entrepreneur.
  2. A business mentor. Even if you went to the best business schools, nothing prepares you better for entrepreneurship than talking to other entrepreneurs. Just make sure you don’t pick someone who says you will get your seed money by buying real estate and collecting rent money from the real estate. 😆 Surprisingly many people don’t want to share their secrets for success. Don’t buy their “I started my billion dollar business with only five dollars”. It’s a fantasy they’re trying to sell you, reality is something different.
  3. A team. Even for solo entrepreneurs, such as bloggers, Youtubers, hairdressers etc., you need some kind of help in things like website management, accounting etc. You need a small team, even if they’re not full-time.
  4. Customers. Again you need people. Nobody will become successful ALONE. I’ve been left alone to “succeed”, even people have refused to help me do promotion videos for my blog that costs them nothing but one hour of their time. It’s a no-brainer that every business needs customers, so make your product, service or social media channel attractive for your target market and forget about the people and their “advice” who are NOT your target market.
  5. Mental healthcare. Entrepreneurs are more likely to suffer from mental health problems than non-entrepreneurs. In an American study conducted in 2019, 72 percent of all entrepreneurs are affected by mental health problems. (https://www.forbes.com/sites/danmurrayserter/2020/10/04/why-entrepreneurs-need-to-talk-about-their-mental-health/?sh=184b6c3437d0) So it’s very important to take care of your mental health, seek help and build your mental resilience with supportive people. Entrepreneurship is more stressful than having a normal day job (unless you worked for a psycho). 🙂🙃

Entrepeneurship is an exciting challenge, an opportunity and in best cases, you will earn much more money than any day job could offer you. Just be smart about it and don’t quit your day job.🙂🙌 (My Youtube video for this blog post: https://youtu.be/i9LsWrE4uFI)

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