How I made my millions

[Anthony Tori]

I was watching a show on CNBC today on how people made their millions. They all did it differently, but one thing they had in common was staying focused on their idea and believing in themselves. Sounds cliche, but it's true. They also ignored people who said it wouldn't happen. It just goes to show that if you have an idea that you believe in and you TRULY feel that you will do it, you will be successful.

[akula]

ppfffff that's a simple way to discuss the topic
success, as an entrepreneurial outcome, is more complicated
there's countless people out there who "have an idea they truly believe in" who end up with failure..in the same way that there are plenty of entrepreneurs out there running successful ventures which they can't wait to get out of
...psyching your self up but posting these self affirmations is just the first step
after all the hi-fives, what you need is strategy..

[Anthony Tori]

ppfffff that's a simple way to discuss the topic
success, as an entrepreneurial outcome, is more complicated
there's countless people out there who "have an idea they truly believe in" who end up with failure..in the same way that there are plenty of entrepreneurs out there running successful ventures which they can't wait to get out of
...psyching your self up but posting these self affirmations is just the first step
after all the hi-fives, what you need is strategy..

Not psyching myself up. I have both businesses, one I'm passionate about and one that makes money. I've done a lot to be where I'm at and I know what it takes to get there. I'm sure there are entrepreneurs out there who are struggling so if I can help motivate someone, mission accomplished. Some people actually care about helping others these days.

[Save the Roaches]

I would have to agree. Not a bad thing to be confident, and it didn't seem conceded.

To make the strategy and strive for greatness, you gotta be confident.

[Southern_Lenders]

Gotta love that guy that started the 99 cent store and has 400 million, but lives like he never made a dime in his life...I swear I dont know how people do it. Id have a 12 car garage just for starters.

[KyleXY]

They're not motivated by money. Plenty of billionaires drive cheap cars. You're motivated by money. They're motivated by purpose. Big difference. Eventually you'll realize at some point, all that stuff you want, don't matter. I use to want a lot of things. Now that I'm able to have them, I could care less about them.

[akula]

Not psyching myself up. I have both businesses, one I'm passionate about and one that makes money. I've done a lot to be where I'm at and I know what it takes to get there. I'm sure there are entrepreneurs out there who are struggling so if I can help motivate someone, mission accomplished. Some people actually care about helping others these days.

I'll tell you what I think...
The worshiping of millionaires and entrepreneurship is a double edge sword...and so is the act of motivating people to start ventures.
In a culture that believes "anything is possible if you put your mind to it", people who don't end up being wealthy or on the cover of magazines have no alternative but to presume that something is wrong with them, which is almost always NOT the case.
So...for me personally...I take the opposite perspective.
When somebody asks me if they should start a business or pursue any kind of an entrepreneurial "idea"..my consistent advise is a categorical "NO"!!!
Business or money is not a prerequisite for happiness
And that's what I think about startups...anyone attempting to do one is a bona fide nutcase....more often than not, getting involved in this sort of thing turns out ugly.

[tyreandme]

I like your pessimistic optimism akula. Even though having balls at what you do is important, a realistic perspective is as well. And the fact that 8/10 business fail within the first 3 years, usually in bankruptcy, shows that a realistic business perspective is quite important, even when planning for success. Many entrepreneurs get so "set" on their idea, that they become blind and self-mislead.

[KH_Global]

It's about what you want. Think Big and challenge your brain continuously. You will find a way.

Yes, you are right. Most millionaires doesn't have cars.

Thanks
Robert

[Anthony Tori]

I'll tell you what I think...
The worshiping of millionaires and entrepreneurship is a double edge sword...and so is the act of motivating people to start ventures.
In a culture that believes "anything is possible if you put your mind to it", people who don't end up being wealthy or on the cover of magazines have no alternative but to presume that something is wrong with them, which is almost always NOT the case.
So...for me personally...I take the opposite perspective.
When somebody asks me if they should start a business or pursue any kind of an entrepreneurial "idea"..my consistent advise is a categorical "NO"!!!
Business or money is not a prerequisite for happiness
And that's what I think about startups...anyone attempting to do one is a bona fide nutcase....more often than not, getting involved in this sort of thing turns out ugly.

You're right about a lot of businesses failing. However, how many of those people learn from their failures and create a new business until one is successful? My first business was a failure. If I would have quit, my businesses now would not even exist. I would have experienced permanent defeat instead of temporary defeat. The motivation and passion is what keeps some people going no matter what happens. Everyone has their own preferences and opinions. Some guys like blonds and others brunettes. Is there a right color? No. My perspective is to have a positive attitude and fully believe I can do something no matter how long it takes. Yours is a little different, but not wrong. Just different than mine.

[rogercbryan]

I was watching a show on CNBC today on how people made their millions. They all did it differently, but one thing they had in common was staying focused on their idea and believing in themselves. Sounds cliche, but it's true. They also ignored people who said it wouldn't happen. It just goes to show that if you have an idea that you believe in and you TRULY feel that you will do it, you will be successful.

I just want to reinforce this comment. I watched part of this show last night. While I agree with what I highlighted you also have to have the maturity to listen to your critics. Although you might not like what they are saying if you listen long enough you might learn something that will help. My mother (of all people) was my worst critic growing up. I must have been a demon child because she swore I wouldn't graduate HS, and then that I wouldn't make it through book camp... had I let her ignorance guide me I would not be where I am today. Her words turned into motivation just to prove her wrong... and hell it worked

[Encrypted]

I just want to reinforce this comment. I watched part of this show last night. While I agree with what I highlighted you also have to have the maturity to listen to your critics. Although you might not like what they are saying if you listen long enough you might learn something that will help. My mother (of all people) was my worst critic growing up. I must have been a demon child because she swore I wouldn't graduate HS, and then that I wouldn't make it through book camp... had I let her ignorance guide me I would not be where I am today. Her words turned into motivation just to prove her wrong... and hell it worked

That's kind of how I feel. My mom has always been on my case about my spending. She has told me time after time to stop "wasting" money on all of my startups and ideas. I'm slowly becoming more and more successful, from all of that money spent (learning from my mistakes for the most part). And my mom's becoming more and more impressed overtime.

I spent the last few years learning from one mistake after another and I think I've finally hit the point where I feel confident enough in myself to make a move. I think entrepreneurship is more about being knowledgeable, professional, and confident in the business world than it is having that "amazing" idea.

[rogercbryan]

That's kind of how I feel. My mom has always been on my case about my spending. She has told me time after time to stop "wasting" money on all of my startups and ideas. I'm slowly becoming more and more successful, from all of that money spent (learning from my mistakes for the most part). And my mom's becoming more and more impressed overtime.

I spent the last few years learning from one mistake after another and I think I've finally hit the point where I feel confident enough in myself to make a move. I think entrepreneurship is more about being knowledgeable, professional, and confident in the business world than it is having that "amazing" idea.

Your post sounds identical to my experience. I can't count how many 'start-ups' I tried. Of course they were all BS... but I did learn a little from each.

[Southern_Lenders]

to kyle: If you start a business, the NUMBER 1 goal is to make a profit. Period. Not passion, not great ideas, not purpose, but the all mightly dollar. To some degree they had to have been motivated by money.

All you hear on the news/ other media are the guys that had great ideas, worked hard, and BAM, now they have millions. What you DONT hear, are about guys that also had great ideas, worked hard, and failed. It seems like that guys that failed are the fools of the business world...at least it kinda seems that way here on YE, and if your successful, then you're the golden child with the right formula.

[KyleXY]

You're right about a lot of businesses failing. However, how many of those people learn from their failures and create a new business until one is successful? My first business was a failure. If I would have quit, my businesses now would not even exist. I would have experienced permanent defeat instead of temporary defeat. The motivation and passion is what keeps some people going no matter what happens. Everyone has their own preferences and opinions. Some guys like blonds and others brunettes. Is there a right color? No. My perspective is to have a positive attitude and fully believe I can do something no matter how long it takes. Yours is a little different, but not wrong. Just different than mine.

Side topic but I know someone who've had 12 businesses, 11 of them failed miserably, 1 which if you could even call a success ended up being sold for I think $600k split 4 ways, meaning he walked away from that deal with only $150k (after about a year or so worth of work). Some people, no matter how motivated, will never learn.

to kyle: If you start a business, the NUMBER 1 goal is to make a profit. Period. Not passion, not great ideas, not purpose, but the all mightly dollar. To some degree they had to have been motivated by money.

All you hear on the news/ other media are the guys that had great ideas, worked hard, and BAM, now they have millions. What you DONT hear, are about guys that also had great ideas, worked hard, and failed. It seems like that guys that failed are the fools of the business world...at least it kinda seems that way here on YE, and if your successful, then you're the golden child with the right formula.

Yes, every business' (to an extent) goal is to make money. That's the point of running a business. BUT for many people, extra money doesn't do them any good. Let's be realistic, Bill Gates could have retired many lifetimes long before he chose to walk away from Microsoft. Same with Steve Jobs. And millions of other successful entrepreneurs who have not even built empires close to those two can retire today but don't. Money is arbitrary at some point and again, my argument here is that you're primarily motivated for a lot of things people tend to care about less and less. When you don't have money, you dream of having a 20 car garage loaded with 20 ferraris. When you do, it becomes less and less of something you do want. That was the original point I was trying to drive home to YOU.

There is a trend whether you acknowledge it or not. Like I said before, I was in that boat years ago. I use to want all these fancy things, a huge mansion, etc etc... but as you get older, and richer, you realize the things you want before are not align with what you want now. Shit changes and if you're unable to accept that, I can't explain it to you. You'll see for yourself later if you ever become a huge success. That ultimately you probably wouldn't be going out to buy all these things you think you're going to be spending your money on.

I also disagree with you on successful business part because I hear about people who fail all the time. YOU don't hear about them because you're looking on the surface with news outlet as with most other people who don't follow up on these things. That's about as dumb as arguing most people don't know about the latest and greatest tech because it's not out there. More like they don't follow these things until it hits critical mass. I hear more about failures than I do about successes. I also see people who've failed that became successes and people who continue to fail. And no, just because you fail doesn't mean you're to be ignored. It's whether or not you learn, your attitude, how you are, etc.. The problem is a lot of people who fail continue to fail because of how they are and of course no one is going to admit they have a problem. More than likely they don't even realize what the issue is. The number one reason investors choose to invest in any startup, and I'm sure others who follow this can back me up, is they invest in the INDIVIDUAL. Not the idea, not the goals, etc... Those things are SECONDARY. Success is entirely dependent on people and even if you have a great idea, if there is a problem with you, you're not going to go anywhere more than likely.