Advice from 150 Entrepreneurs

Recently I was reading an article where someone interviewed 150 entrepreneurs and asked for their basic business advice. What do you need to achieve success?

Whilst reading I noticed that 3 of the same tips kept coming up. This isn’t a coincidence, so I thought it’d be useful information for any aspiring entrepreneurs reading this.

  1. Persistence

The journey to success is rarely, most likely never, a simple and easy one. It’s the old cliche – if it was easy everyone would do it. This is something I’m learning myself, 2 months in to my first business venture.

There will be rejection. There will be a lot of no’s. There will be a lot of money thrown down the drain, a lot of late nights and early mornings. You’re likely to want to quit and give it all up to go and find a corporate job. Everyone will face these hard times, and 80% of people do give in. But the 20% persist. These are the winners.

As mentioned in the book ‘Think and Grow Rich‘, you have not failed until you have accepted defeat. If you never give up, you’ll make it in the end. You must persist.

2. Surround yourself with smart people

‘Show me your friends and I’ll show you your future.’

Almost every entrepreneur in these interviews mentioned that you are unlikely to make it if you go alone. You’ll go a lot faster and a lot further with the right people by your side.

This can also be good for people starting off who are a bit lost. As Tai Lopez always says, find yourself a mentor. Whilst this may just be him promoting his online course, there’s truth in that statement. Find someone 1, 2, 5… 10 years ahead of you and spend time with them. You’ll learn a lot.

This doesn’t mean cut people off. If your family, friends or colleagues are dragging you down, I’m not suggesting cutting them off completely. Make an effort to see them because having people close to you is very important, but remember to spend some time with people ahead of you in your game in order to level up.

‘Hang with 5 idiots and you’ll be the 6th. Hang with 5 millionaires… you’ll be the 6th.’

3. Do the work

This one is so obvious, but so neglected. If you want to make it to the top, you have to hustle. You have to take action.

Gary Vee stresses the importance of this. Especially if you don’t go to college and you want to build a business, you have to ‘work your face off.’

Elon Musk is arguably the king of hard work. He runs 3 billion dollar companies, spread out across the states, has 5 children and is constantly turning unimaginable ideas into a reality (one of his latest being a hyperloop that runs underneath roads to reduce traffic.)

When he and his brother Kimbal built their first business known as Zip2, instead of renting an apartment, they found a small office and slept on the couch. They showered at a youth hostel down the road. Elon said ‘The website was up during the day, and I was coding at night. Seven days a week, all the time.’

‘If you do the simple math, if someone else is working 40 hours a week and you’re working 80, you’ll achieve twice as much over the course of the year.’

It’s obvious but so important. I’m not saying everyone is capable of what Elon has achieved, but I hope this stresses the importance of relentless hard work.

Thanks for reading. I just want to just reiterate that this is not MY advice. I’m only 2 months in to building my first ever business, and whilst I’m learning the importance of these 3 factors, I’m in no position to be dishing out advice yet.

I’m currently still working on my e-commerce store, which is going well and looking promising for the future. Next year I plan on opening 2 more businesses, including a marketing agency and a retail flipping business. If all goes according to plan, I’ll hopefully be running 3 businesses by early 2019.

I’m also gonna try to stick to more frequent blogs, so look out for them. If you want to get in touch with me, send me a dm on Instagram – it’s where I’m most active.

@blackbusinessofficial

Thanks!

Charlie 🙂

 

 

 

 

My Plan

This is my first blog in about 2 months… and that’s because things have been pretty crazy, so I thought I’d drop a quick update to explain what’s going on.

On February 17th, as many of you will know, I set off to travel the world with my girlfriend. We visited 7 countries: Costa Rica, Peru, Brazil, Argentina, New Zealand, Australia and Thailand. I won’t go into too much detail about the trip, because I’ll save it for another blog, but pretty much these past 5 months have been the best of my life.

On Sunday 8th July I returned home to England. Things have been weird and ridiculously different to the lifestyle I’d gotten so used to. Im currently adjusting back to normal life which has left me feeling a bit depressed and almost frustrated, but these feelings will pass soon (I hope.)

So what next? Despite slagging off the education system consistently on my Instagram page I have actually been offered a place at university. However, I decided to push my place back a year, so I’d be starting my course in September of 2019. This leaves me with a year to do what I please.

I’m planning on opening 2 businesses in the space of this year. A Shopify store (which is in the process of launching now) and at some point later in the year, a social media marketing agency. I’ll only do Shopify for a short while to fund my next business idea, because realistically I don’t want to be selling items manufactured in China on Facebook for the rest of my life. Essentially, social media marketing is what I want to do with my life, and I’ve opened this Shopify store to initally fund it.

If this year goes well, and I see any sort of success after 12 months of hard work and dedication, then perhaps the entrepreneur life is for me, and I’ll do this forever (which is the aim, because this would allow a lifetime of travelling…) However, if this year does not go according to plan, and perhaps this isn’t working out, I can go to university next September and get myself a degree. I’ve managed to secure myself a back-up plan which makes everything seem a little less scary.

But yeah, that’s the plan. Apologies for being less active on here and Instagram lately, I’ve just had quite a lot going on. I’ll be back to weekly blogs and more frequent uploads soon.

Be sure to follow me on Instagram for an insight into my life, @blackbusinessofficial.

Thanks for reading!

Charlie 🙂

What would Grant Cardone do with $1M?

1 million dollars. The dream. You’ve made it! You’re a millionaire. Right?

Well, yes, but it’s often said that what you do once you have money is just as important as earning it in the first place.

This is why I have started studying Grant Cardone in great detail. I believe he is the king of multiplying cash.

He said he earned a small amount of money, like everyone else can, then worked on multiplying it. Simple.

In one of his recent podcasts, Grant said ‘any dummy can get their hands on $5,000.’ After then, it’s just a case of adding more and more to your income.

Grant stresses the importance of getting rid of your money rather than keeping it.

What do I mean by this? It means putting none, or very little, into the bank. As Cardone says, save to SPEND, don’t save to SAVE. As I’m writing this, my personal bank would give me 0.75% interest on my money if I put over $50,000 in there. That means if I put $1,000,000 in the bank, after a year it would increase to $1,007,500. Less than a $10,000 increase on 1 million dollars!

Grant has always said investing is the best way to multiply your cash. This can be done a number of ways, arguably the most effective being real estate. You can easily make 20% interest on your money with a good real estate deal – Grant claims to make 15% on his money with a ‘bad’ deal! A 20% interest rate would increase your million to $1,200,000!

It’s obviously easier said than done, but the key message here is that spending your money on assets is the way to go, rather than leaving it in the bank. Trust Grant Cardone, he has built a real estate empire worth roughly $900 million!

Let me know what you’d do with one million dollars over on my Instagram page @blackbusinessofficial. Thanks for reading, stay tuned for more blogs. And obviously, check out the man @grantcardone for financial tips – he’ll change your life.

Thanks,

Charlie

What Is The Next Big Thing?

As an 18 year old, particularly one fascinated by business and social media, I’m often asked about technology. Usually by people older than me who are started to become more interested in tech. I was recently asked ‘what’s the next big thing?’ which got me thinking. If I knew for sure what the next big thing was, I’d end up making a hell of a lot of money, that’s for sure. The truth is, no one knows what’s coming next. But I decided to research some of the worlds best trend-predictors in order to discover ‘the next big thing.’

I found a few things, which all sound like they could be huge. One of my favourites came from one of the best trend catchers of this generation, Gary Vee. Using his ability to spot trends, Gary has made millions from investing in companies before anyone else saw them coming – such as Uber, Twitter and Snapchat. When asked about upcoming technologies in an interview with Tai Lopez (another entrepreneur who has demonstrated his fantastic ability to hop on upcoming trends) Gary went off on a rant about a ‘smart fridge.’ He believes that not far into the future, fridges will be developed which order your food for you. They’ll be hooked up to Amazon and they’ll know when you run out of ketchup, and they’ll order more. Food will show up at your door and you won’t even have to order it yourself. I thought this sounded crazy, but can easily see it happening.

Gary also mentioned Voice First in his book Crushing It! – the technology behind Amazon’s Alexa and Google Assistant. On multiple occasions Gary has stressed the potential behind voice controlled devices. It’s already possible to say ‘hey Alexa, buy my shampoo’ and within days a fresh bottle of head and shoulders will show up on your doorstep. But soon, EVERYTHING will be voice controlled. Like, EVERYTHING. Nothing will be done manually any more. It sounds crazy, but it’ll happen, because technology is developing faster than we can even imagine. Everything will be able to talk to you. Your trousers will tighten when you tell them to. Your wallpaper will change colours if you tell it you’re having a party. Your TV will change channels if you say ‘ITV.’ Your glasses will change to sunglasses when you tell them it’s too bright. If you’re reading this and thinking ‘what a load of bullshit’, PLEASE save this article and re-read it in 10 years time.

I’m also currently reading Elon Musk’s biography. This man is an absolute genius. Whilst Zuckerburg wants to help you share baby pictures, Musk wants to save the human race from accidental self-annihilation. And believe me, he will. His overall aim is to create renewable forms of transport that will not harm the environment, and he’s even working on transporting us to Mars. Not just for a leisurely visit, but to hopefully live there one day. His companies SpaceX and Tesla revolve around the future of mankind. SpaceX is rapidly commercialising space travel. Soon we won’t be taking planes. We’ll be hoping onto rockets, blasting through the atmosphere and landing on another platform somewhere else in the world. Flying from London to Bangkok will take about half an hour. Tesla is working on creating incredibly powerful electric cars. The aim is that one day we’ll all be using them and cars that run on petrol will be a thing of the past. Again, this all sounds stupid. But when Musk wanted to make the worlds first online bank, he was ridiculed. He went on to develop PayPal. He’s proven people wrong before, and he’s gonna do it again. Do not doubt him.

So, now when I’m asked about ‘the next big thing’ I reply with, no one knows for sure what will be most successful, but there are things out there that will definitely be huge. I answer with space travel, electronic cars, voice control and of course, smart fridges.

Which technologies do you think will boom in the near future?

I’ve gained a lot of this information from Elon Musk’s biography, so I’ll leave a link below in case you wanna pick it up:

Elon Musk’s Biography Book Link

Thanks for reading. DM me on Instagram @blackbusinessofficial with technologies you have heard of, because I find it all very fascinating. Also shoutout to @wealthytools for helping me to grow my page, check him out because he has some great content!

Thanks,

Charlie 🙂

Why The New Name?

Until yesterday my Instagram page and website had been called ‘Daily Business Thoughts’. I decided to scrap this name and go for ‘Black Business’. I’ve already had a few questions as to what’s going on so I’m just gonna clear it all up in this mini blog.

I felt as though the name ‘dailybusinessthoughts’ confined me to, well… business thoughts. It made me feel as if all I could post on my page was quotes and ideas. I wanted more of a general business platform, and my name is Charlie Black, and so Black Business was born. @blackbusiness is actually taken on Instagram, by someone who hasn’t even posted for 3 years… so I had to settle for the handle @blackbusinessofficial.

Not only does this new name give me more freedom in terms of posts but it’s also far more scalable. In the future I plan on opening many more Instagram pages such as blackfitness, or blackphotography for example. This new brand gives me far more leeway when it comes to expanding. Look out for these new pages within the next couple of months.

And that’s about it. I’m currently staying in Brisbane, Australia for 2 weeks and I finally have access to a laptop so blogs will be far more regular.

Thanks for reading,

Charlie 🙂