Mr X talks through what he feels are some of the most important obstacles to overcome when starting and building a successful business
In the following section of the interview Mr X talks through what he feels are some of the most important obstacles to overcome when starting and building a successful business, and the types of businesses to avoid (he used to own pubs and does NOT recommend that business):
I think, without sounding too presumptuous, the trouble with a lot of people is that they hold pessimistic views of things. They resign themselves to defeat even before they’ve begun.
They’ll look at a business venture, they’ll sit down and they’ll try to convince themselves why it’s not for them or why it won’t work. They find it hard to comprehend that others are making absolute fortunes either online or offline.
I think I must have heard every excuse under the sun over the last twenty odd years as to why someone’s business isn’t working:
“If only I was younger”
“If only I was older”
“If only I had more time”
“If only I could be sure of success”
“If only I had more luck” – that’s a good one.
“If only I had more money” – that’s a really good one.
“If only I had more confidence”
“If only I could just get started” – well go out and do it. Just do it.
“If only I could just get out of debt” – well that follows on – if you get out and start the business, you’ll normally find that it will get you 0ut of debt.
It’s just really the majority of people – what they’re really saying is “if only everything was handed to me on a silver platter I might have a chance of getting it right”
Well, it’s not going to be all handed to you on a silver platter, no matter what anybody says, there is going to be some work involved in running a successful business, it’s just varying degrees of work.
What I try and do is look for businesses that can be very successful and profitable, but take the least amount of running. If something can be done on autopilot, I’ll do it on autopilot.
Because believe me – if there’s any publicans listening, they’ll understand what I’m talking about – if you want to really work hard, get yourself a pub. And if you really want to work super hard, get yourself a country pub.
One of these idyllic country pubs that everybody says, “I would like to retire to”.
Give it a month and you’ll see what work’s all about – eighteen hours a day, seven days a week. You don’t have to do that with online businesses – if you set that up right, they can be hugely profitable and it’s actually obscene really the small amount of time you have to put into a lot of these businesses for the amount of money you can get out of them.