Oz Konar: Hey, everyone, Oz Konar here. Listen, today I want
to talk about a topic that's probably the most fundamental
for anyone who considers themselves to be an
entrepreneur. Right. And that's the topic of how to become an
entrepreneur how to become a successful one. We live in an
age that everyone is promoting this entrepreneurial dream life
that you have unlimited amount of money, and you're driving
fancy cars, and you live in big mansions. But this topic is kind
of overlooked on how to become one. And when you're talking
about how to become an entrepreneur, or a business
owner, that in itself is such a broad topic, because that covers
they can cover anything from how to come up with a business plan,
how to choose your products and services, how to choose the
business to start, how to hire someone fire, so so many
different elements that I personally deal with, day in and
day out. But those are all semantics on unless you have the
fundamentals in place. So I'm going to handle this
conversation in two separate parts within this video today.
One part is the why before you get to how to become one, we
need to understand why do you want to be an entrepreneur,
that's the first part. The second part is what kind of
entrepreneur are you, there are different categories of
entrepreneurialshi without you understanding based on your
personality in your life experiences or your skill set,
which one of them, you're going to spend a lot of time treading
water, and there's a lot of things will be trial and error.
And maybe at the end, you'll find that that you don't really
fit into any of those buckets. And this whole entrepreneurial
thing might not have been be for you. Right. So because you're
you admire the lifestyles from promoter constantly. But I can
tell you that business ownership is not for everyone. So that's
my goal with this video to help you understand the why part and
also understand different categories of
entrepreneurialship. So hopefully, by the end of that
you can self analyze yourself and decide on your primary why
and what what type of entrepreneur you are. And
putting together, you can decide which route you want to go to
start or grow your own business or if even if you try different
businesses, and for some reason something is really not working,
you can't seem to figure out what that is. Hopefully this
video will help. Fair warning, this is not going to be a
shorter video in comparison to my other ones. Because it's such
a again, important and deep topic, I don't want to rush
through it. So if you don't have the time, you can come back to
it later. But if you do enjoy videos like this in my channel,
if you can like it, and subscribe to my channel, that
will be great. I also have an Instagram channel, if you can
Instagram account, if you can follow me on Instagram, that
will be great as well. All right. Without further ado,
let's get started. How to become an entrepreneur. The first part
of that is why do people go crazy about starting their own
business? While I can almost hear you say, well as obviously
people want to make more money. So the goal is to make more
money. I certainly understand that. But it's not necessarily
true for everybody. Right? So we're going to talk about the
three reasons that someone wants to start a business. And this
has to do with the personality, how you're brought up, what
happened to you in the past, and your motivators, what ticks you
various things. And now obviously there is no way for me
to know all of that this is for you to listen carefully and
decide for yourself, Which one, which one of these categories,
provide you the why that you have why you do what you do. The
first one and the most common one that most people start their
own business is there's the lack of satisfaction. They're not
satisfied with something they're dissatisfied. There's some
elements of their life, a lot of times that's their job, they
have a nine to five, and they kind of some people despise
their job, honestly, their boss and what they do they really,
really dislike it to the point of hating it and wanting to get
rid of it, right? So the lack of satisfaction is the first reason
that someone wants to get out of their current situation and
start a business. Why do they want to start a business that
way? Because it feels like it gives them a control on their
lives, right? And this doesn't always have to be about your
lifestyle. Sometimes. That is the satisfaction comes from a
solution that you find. So let's say you have a problem, and
there's a product that solves that problem. And you can't
stand that product, the current solution to that and you notice
that oh my god, I'm just not happy with the solution. There
has to be a better way right? Necessity is the mother of
mentioned. So something is not working and it just upsets you
so much and you go ahead and find a solution to that but a
lot of the time is within this category within the category of
dissatisfaction, it comes down to the finances, there are
millions and millions of people who are not happy with the
paycheck they get, they're not happy with the amount of money
they're making currently. And of course, being an entrepreneur
gives you the control to decide how much you will be making
granted that you're successful. Okay? So this category is
definitely important to understand, for you to decide,
why are you not happy? Are you not satisfied for the wrong
reason, right? If you just want to start your own business to
escape the current reality, that's a problem, because there
might be an easier solution. For example, if you just dislike
your boss, you might like your job, but it just can't stand the
sky or a woman. And you want to start a business, that might not
be the best motivation, right? Because maybe the motivation if
you really like your pay, and if you really cannot stand the
responsibility of being a business owner, and your only
complaint is your boss, maybe it could be a good idea to just
change your boss, right. But a lot of times, the reason is
deeper than that you're angry at somebody, let's say your boss,
because you don't want to be dominated by that person, you
want to kind of practice or independence, you want to break
through those chains and, and kind of take control over live
your life and build something maybe we can pass down to
generations or build maybe generational wealth, by certain
families in the United States and in the world that they have,
right? They have been rich for like forever, almost. But they
all started somewhere.
That's really, really important. That's the first part, which is
lack of satisfaction, which is really, really important. If
you're not happy with your current situation, I think the
probably the worst thing you can do is to try to settle into it,
and believe that just be optimistic and things will
change by itself. I'm not a I don't submit to that belief
system. If you leave things to their own accord, they don't
usually solve themselves, they get worse. So things go from
orderly to disorderly is as a physical rule, right? So that's
really important. Being optimistic, especially in times
like this is really, really important. But that should not
turn into lack of planning. And just you know, spraying and
praying is not the way to go. All right. So that's the first
part first reason why somebody starts a business. Second
reason, again, these types of people are a lot less than the
first step majority of the individuals out there who want
to start their own business are on the first category. The
second, the second category is dreamers, these people have a
big dream, they're not necessarily unhappy with their
current situation. But they have this vision in their mind that
they want to accomplish something massive with their
lives. And they think that a business is a vehicle for that
99% of time business is the vehicle for that anyone famous
and anyone who's a celebrity, anyone who's a multibillionaire
it, chances of them holding a job is rare to none, almost all
of them own a business. So owning your own business. And
being entrepreneurial is your vehicle to that a lot of the
companies like this category specifically belongs to a lot of
companies in Silicon Valley. So they start with something maybe
doesn't even exist anymore. And there might not even be a demand
for it. And people might not even know that, that they would
need it if it existed. And these people have this dream of
creating that and getting it out there. So a lot of the startups
start with this idea. So two founders sit down and they lock
themselves in a room and they focus on a problem and all of a
sudden they come up with the solution. And they go to
investors and you know, get some money from venture capitalists
and things like that and start a business. Can this happen on a
smaller scale? Sure, it can happen. But again, the
motivation for those people are not so much the immediate
solution to their problem, but more like I have this dream like
Elon Musk, occupy Mars. That's his mission, right? That's
bigger than life mission.
So he wants to occupy Mars, is it about money? Maybe you can,
you can argue that but I think it's more than that. Right? So
that's the second type of category on why someone starts a
business. Third one is usually overlapping or the other first
two categories. It is the self discovery. One of the ways that
you can learn a crap ton about yourself is when you face
yourself. People are afraid to do that. A lot of times people
are afraid to look at the person in the mirror. People are afraid
to even be lonely with them. selves, like they would do
anything, not to spend time with themselves. So when you start
your own business, you all of a sudden take on this amazing
responsibility because there is no person, no other person to
blame. It's just you. So anyone who's kind of used to lunchroom
gossip about their boss, and the company and all that stuff,
anyone who wants to play the victim card, or they're not,
they're not the reason why something is not working,
they're live, and you take them and put them in a business
situation, it doesn't work out really, really well, because
they will have to face themselves, but that's on the
negative and under positive, and it's one of the most amazing
experiences, because I don't think there's such an
experience, to get to know yourself better your strengths
and your weaknesses and where you invest, to grow personally.
I mean, I personally spent over six figures on my own education,
it took me a while, but I come to peace with my own self, to
understand my own weaknesses. And I figured out that for me to
fix that is that I gotta learn from others who have done it
before, right? So this is the third category self discovery.
These individuals again, this overlaps with the first two,
sometimes they maybe had a glimpse of success at some point
in their lives, like you hear them say things like, oh, man,
why things were crazy back, then we were having a lot of fun,
we're killing it, this business was doing fine. Not anymore, but
I missed those that I can tell you that I can't stand working
for somebody else. Again, this can remind you reason number
one, at the same time, they had this glimpse of success, and
they know that they were in the zone personally back then, when
they caught that moment, and they missed it not they miss it
so much, they want to go back to it. Because their body, their
self, their subconscious mind is definitely wanting to experience
again, so they want and because why? Because people want things
that kind of expands them, they know that it's going to teach
them a lot, then they're gonna grow. And what's one of the most
common reasons people leave jobs, they call it dead end,
right? If you're a company that you work for, if your job is
just flat, and there's no growth opportunity, or it's not fun
enough, or you're or you're not developing yourself enough, one
of the reasons that people look for a way out is that you're not
you're not, you're not in the self discovery mode anymore. So
these are the three reasons why somebody starts their own
business. So hopefully, you were able to kind of imagine yourself
on which one of them or maybe it's it can be all three of
them. But there is always one of them that's dominant. And let's
say you identify like most people, it's number one, you're
just not satisfied with the current status of your life,
then you got to get more specific. What does that mean?
Like? What exactly are you not happy with? While I'm not making
enough money? Okay? What is enough? How much is enough? That
you're not making that? But do you know how much is enough? Is
it if you're making five grand right now is a 10 grand is 20
grand? Because if you don't know what that is, how are you gonna
know if you can get there, right? So you have to set up a
specific plan. So that's the purpose of this part of the
video, not just for that identify on number two, that's
not enough. But and I can't do that for you. But you need to
pick up a pen and paper and write down and be really, really
specific. And this is not the time to be super positive and
optimistic. Your future is positive, I believe in that. But
in cases like this, you got to kind of push yourself to your
limit, to have the truth come out. When you're like in a
really uncomfortable state of mind. We kind of sugarcoat
things. Our brain finds a way to cheat us and make us believe
that things are just fine. We'll be okay. Come on. Don't make a
big deal. But it's really not the case. So pick up a pen and
paper write down what's bothering the heck out of you.
Is it your old desk in your office? You can't stand it is a
your car? Do you need a bigger car?
You need a better car? Is it your neighborhood? You don't
wanna you don't want to grow your kids in this neighborhood?
Is it the clothes that you can afford? Maybe you want this
purse or shoes for ladies, and you cannot just can't afford
that. So whatever it is, the more specific and you need to
have like a list of things like if you're really if you try to
come up with a list to be perfectly honest. And if you
only have like two things. You probably like you're probably
not dissatisfied enough to start a business it might feel that
way. But you're not there. Like people I remember myself and I'm
not an exception. Most business owners are like that. If you
asked me like eight years ago, the amount of things that I just
totally was angry about. It was probably two or three pages
long. Okay, and I can I can go through them in my mind like
thinking about it. Just everything starts bothering you.
Because you know that you don't belong there, you need to do
something to change that situation. And that's the same
thing for Category Two, if you're a dreamer, what is that
dream be specific? Right? Like, think of Bill Gates, when the
first, very first one of the first computers created, it was
the size of a two storey building. When someone asked him
what his mission was, you said he wanted to have a computer and
everybody's home. People laughed at him. Why? Because they looked
at the computer, it says, as big as the building itself. And this
young dude is talking about putting it in everybody's home.
Like it doesn't make sense, right. But he's a dreamer, he
knew that he could do that he would probably have thought of,
you know, minimize the size of the computer and somehow getting
it through? We don't know, right? But he did that. That's
the type of guy who's a dreamer, he could have answered, My
mission is to make $10 billion. And he could have hit that goal.
But you can, as you can see, he's not in the first category.
Category three, one of the examples is that maybe you're
not feeling like you're yourself anymore. You might feel like I
feel like I'm a loser, right? I'm not doing well, or my people
are, you know, my family is not my husband, my wife is not
appreciating me enough. They're not treating me like I'm a
winner, I missed that feeling of being the winner. I miss it so
much, I gotta do something about it. Right? And that doesn't have
anything to do with the money that doesn't have anything to do
with with the having this large, big dream. Because everyone
confused. A lot of people confuse that are like, oh, yeah,
I don't have Am I gonna be successful because I don't
really plan ahead, or I don't, I don't have this massive dream or
anything like that. Maybe what you're missing is bigger than
some dreamers dream. If you kind of pull yourself together and
get yourself in that zone.
Other options will open up and then you can maybe a plan, you
can start planning about the financial goals. Or you can have
better dreams if you have like a roadblock that's kind of
avoiding is stopping you from even dreaming right now. Okay,
that's more psychological. So now we covered the three reasons
why somebody starts a business. If you've done that, now, let's
move on to the types of entrepreneurs out there.
Alright. So the first type of entrepreneur is the pioneer. All
right, these are the kids of the Silicon Valley, they just want
to start the next Facebook, right. So they see a problem,
they immediately jump onto the problem, they want to create a
solution from brand new that doesn't exist before. They think
their solution is the best one out there, they think they're
gonna create, they created Uber of this uber of that, you hear
that a lot in Shark Tank, and all the other shows out there.
These are the pioneers, okay. And very rarely, they succeed at
a massive scale. But if they do succeed, it is at a massive
scale. So we're talking about their Bnbs, Amazon, Facebook,
and Uber and these types of companies. And there's also
saying for them, pioneers are the ones who end up with arrows
in their backs. Because a lot of the time, they are so futuristic
about their goal, they kind of don't see the mishaps, why it's
not even feasible for them to accomplish that goal. They
cannot get enough investments, the market doesn't agree with
their dream of creating the next solution, and they don't buy and
they have crushed dreams. I do have friends like that he
started businesses. And when you talk to them, their eyes will
glow love. I mean, they just, they're in the zone all the
time, they're growing this multi, like 10s of hundreds of
millions of dollars company, and you'd be like so convinced. And
if you had money, you just want to give it to them without
really understanding that energy is contagious. But again, less
than 1% of these people become really successful. When they do
become really successful. That means you know that that's those
are the pioneers. So most people are not pioneers. Okay? They
think they are but they're not. The second type of people are
the ones who are aware of a problem. This is a second time
entrepreneur. And they there are solutions out there. But the
solutions are not good enough. They just come up with a better
solution. They look at a solution in the marketplace.
They can just say I can do better than that. Right? So one
example that everyone will remember, as they probably
watched the movie The Wolf of Wall Street, right? Jordan
Belfort. Well, stock market has existed way before him. And but
the type what he didn't like is the way people were selling. So
he kind of developed his own way of selling stocks that would
work well in a dishonest way. So I'm not approving his process,
but I'm just giving you an example of how that worked out.
He looked at A business model, he worked in it, he noticed that
the how they were doing things was wrong, there was a better
way to cheat people and convince them or whatever you want to
say. And he came up with that model, like straight line,
persuasion, I think straight line, something, then he used
that. And there are many other examples of that this is a more
of a common way of starting your business, right? When someone is
looking at a business, they can say, Hey, I see a bagel shop,
they're doing okay, but I can probably triple the revenue they
do, because I understand the market. Right. So this is where
things kind of fall into place. In the beginning, I told you,
I'm not going to talk about specific elements of how to
become a business owner, like the business plan, the
marketing, hiring and all that stuff. So this category
determines you can take the same industry, the same people, but
someone will 10x the other person, because they have a
better solution in the marketplace. So it's the second
part. And this is usually the category that a lot of
businesses fail, because their perception of what's better for
that business might be totally wrong, right. So although a lot
of people are in this category, they might not always be doing
the best. And because they lacked the galactic guidance,
and what they see from our side is way different than when they
own that business. But this type of person is all about improving
the current solution, they don't like it, they are good at
finding flaws, and that solution, and they go ahead and
come up with a better solution and just kill everybody else.
One of the prime examples for that is salesforce.com is a CRM
system. Prior to salesforce.com. There were a ton of other CRM
systems out there. But Salesforce came knocking through
all of them, and became the biggest CRM company out there
with so many bells and whistles and so many things, probably the
most expensive one, it solves a really massive problem on a
market that people thought it was already dominated, but no
one's gonna take over that Chobani Yogurt is another one,
the yogurt industry in the United States is almost
saturated. And you know, anyone to come in and take over 30 32%
of the market was thought impossible. And this guy Chobani
came through, and it created yogurt with, you know, no sugar,
or less sugar, and various combinations of that and took
over the marketing. So for this category, I'm going to give you
a couple of examples from my own life if you care to listen. So
I'm a combination of different categories of entrepreneurs, but
more like this one. So when, when I started my marketing
agency, we decided after a while, we decided to focus on
the merchant cash advance industry, alternative lending in
Michigan, you know, this initially funds money to small
businesses, when the banks do not or cannot fund, which is
most of the time for small businesses. So I got into this
industry prior to me starting the business, I was a
salesperson, I was selling this door to door to small
businesses, along with credit card processing. So I got in as
an agency, so you wanted to get clients and we're attracting a
lot of clients. But a lot of times there was always a
friction because these clients, their understanding of marketing
was just putting more guys on the phone, you know, their
understanding of marketing is listen man I got if I have 20
people all dialing all day long. If they're all dial in 300 or
400 people, we're gonna kill it. And the interesting part is
while they were killing it, that's that's the good part. But
the bad part is their marketing was restricted to hardcore
sales, there was really no inbound marketing, meaning that
they didn't have customers coming to them. That was just
really hard boiler room, Wolf of Wall Street type environment
that everyone is dialing, dialing dialing. And I've done
that myself, I come from that background. But I knew that
there was a better way to get clients. And this is when the
online marketing was kind of evolving and you know,
exploding, there was explosive growth out there. And we had
this one big client that we had massive success with, and we're
slowly getting the other ones. But the problem was that a lot
of the a lot of most of them, the she kind of copied what they
saw from each other. And they were coming to industry from one
end and getting out from the other one without any success
because their mindset was stuck and telemarketing. And
telemarketing is not easy to make it work. You need people
that there's a high turnover because I don't think anyone
enjoys dialing 400 people every single day. So we came into that
market. I looked everywhere. And notice that while there is a
solution, right? So people want to grow the merchant cash
advance business, why it's very lucrative to grow and there's
massive demand. Those are the positive parts, but the negative
part is your way of acquiring customers is through the phone.
I totally disagree with that. So as you can see, what I did is I
scan the market I am from the market came in and notice that
Well, there's a, there needs to be a pattern interrupt we need,
we don't, I don't like the solution. And then the solution
I came up with is we're gonna specialize in doing online
marketing for the companies in the Merchant Cash Advance
industry. And that's took us from only having like one or two
clients, and the industry to be to becoming the most known
company in inbound lead generation. So we've never sold
leads, we never did telemarketing, it was all
inbound online marketing related, and then we were the
only company doing that, right. And that that helped us make a
mark in that industry. So second time, I identify myself with
that category of entrepreneurialship. You know,
looking at a problem not liking the solution, creating the
solution is a training that we have the business lending
blueprint. So what we're is an agency, we grew really big, and
we're doing marketing for so many people. But I noticed that
this is like a really enclosed industry. But it can do so much
value like there was there's there's still a massive demand
and alternative lending industry that's not covered there. Not
enough people handling it. So for that reason, I noticed that
while this can people can actually start doing this, but
the market was so close to that idea, because their
understanding of taking somebody from not even knowing this, and
having them a success was almost impossible, because they needed
to be a salesperson, and they need to not understand the
numbers. Behind the scenes, there was a lot of like small
screens, and the bosses didn't want to talk about the
commission structure and all that. And we came through and we
put together an actual training on taking the average person
without any sales experience or marketing experience or industry
experience and having them build a very sustainable and
profitable business. As you can see again, yeah, pat on the
back. Good job boss. But I'm trying to have the points and
Ken right. This is the second time entrepreneur, this is a lot
of the people look at a solution, don't like the
solution and go find a better solution. The third type of
entrepreneur, which is the safest bet, is find an industry
that has a problem that has a demand on the sheet that has a
solution. And also a step by step plan and succeeding that
right. Third category is usually a franchises but French
franchisor already identified a problem like a subway, there was
a they wanted to have a fast food solution that was also
healthy back in the day, they took it from concept to an
actual running business, and they managed to replicate it so
you can duplicate their process and make it profitable. And they
made it a franchise system. And it was repeated through Dunkin
Donuts and McDonald's and so many other franchises out there,
Supercuts and any different categories. This is a third
category of business ownership, people who are looking for a
proven system, they go ahead and they get that system. This also
encompasses buying courses and trainings and hiring mentors.
Again, people usually overlap. So there's usually not just this
one type of category I myself, again, I invest in a lot of the
coaches and mentors and I buy a lot of horses. Why? Because I
want pretty much something already figured out. I don't
want to go to Google or YouTube and try to figure it out myself,
I want to find the best at something and kind of follow
their lead and follow their mentorship. Okay, so third
category is the least amount of risk usually cost you a little
upfront money to get in, maybe the second category doesn't cost
you as much or it might cost you 10 times more if you're trying
to open your own brick and mortar store. But the third
category doesn't cost you a lot of money. But it does have a
cost because there's a learning curve. And you're starting,
you're following a system and it requires you to be a coachable
person. That's why it's important for you to identify if
you're in any of those categories. If you're if you
rebel against authority, or anyone and you think you know
everything, or you just want to be left alone and do things
yourself, then do not invest into a coach or mentor because
you're not gonna listen that guy or a woman, right, you're gonna
make your life miserable.
And this category I think, is a lot of the people who and I hear
these people quite a bit and you know, anyone who's interested in
our services and the training they come through and one of the
first things they say often scam so many times and none of the
programs work out there. When that happens. I usually put them
on the spot I tell them but how many times have you actually
invested in a program? How many just humor me and telling me how
many Oh, a lot. I'm not I'm not let's be specific. How many
times have you bought a program, you actually did the recommended
amount of time and apply and it just turned out to be like total
scam minute, did it work? How many times? And usually the
answer, we don't come up to an answer. That doesn't mean,
that's that's always the case. But like most of those people,
and that's, that's one of the reasons I want to create this
video to help people understand by themselves which category
they belong to. So if they're like, you're somebody who's
just, oh, I don't trust this person or the industry is bad,
or the economy's bad, or president is bad, you're
probably not a good fit for the business world, right? This
business world requires you to have this understanding this
commitment and responsibility to your 100% responsible for your
actions, right. So the third category, again, is for those
who will want to follow the proven system that just their
mind is set at where they want to go, they want to kind of take
the shortcut, instead of being like in the second category,
trying to create it was the first category trying to create
something that doesn't even exist, right. So those are the
three types of entrepreneurs and again, they have their own
subcategories, which I'm not going to get into that will take
too long to explain. But again, this is the second part is also
a part for you to think deeply about and maybe write down notes
on things that goal is collectively by the end of this
video, you look at your notes, you can identify yourself with
at least a couple of those things. So you know that you're
not going to make a mistake of starting a business when you
shouldn't even be in the business right. So we're gonna
wrap up right now if you again liked the video, definitely like
below and comment and tell me what you find out and what your
thoughts are. And don't forget to subscribe to the channel.
I'll see another video. Take care now.