I have been an entrepreneur for a few years now and the one thing that I have determine3d is that you should always expect the worst. When going into any business, you should always have a plan in case things go terribly wrong.
The worst case scenario is not always the one that pans out, but it is good to have something to fall back on in case that does happen. I have been involved in countless business ventures that have failed. But I have also been involved in a few that have been huge successes. I would add that the biggest lessons learned always come from the failures.
The failures and the worst case scenarios are what lead you to the next project. My business is ever evolving…on a day by day basis! It is those who adapt and change with the times that will see success. Not every project is going to be a home-run, not every property is going to make you money, but the perseverance is what will lead you on that path.
I am working on a project currently that he developed into something we are now seeking VC money to complete. if you had asked me a few years back, this project would not have been anywhere on my radar. Hec, if you would have asked me a few months back, the direction in which things were progressing is a lot different than it is now.
Whatever your dreams, whatever your desires….Don’t give up, don’t ever give up.
If you were to ask any successful business person, I would guess that 9 out of 10 failed at a few businesses before falling backwards into their present gig.
Hell, this blog was meant to be a source that I posted to multiple times per week…but life and business got in the way. I was supposed to always write about real estate investing, this post has nothing to do with that! It is more of my rambling thoughts!
Hell, lets make it pertain to real estate…at your next real estate investment club meeting, go around and ask everyone there who is ACTIVE in real estate investing how they fund their deals…
I bet you will find a majority of them are using private money…My buddy Patrick Riddle asked this question at his local club, watch the video for results:
Cheers,
~ Ross Treakle
