Chapter
Tips for Starting a Business
11:10 - 20:05 (08:55)
The path to owning a business is not linear and requires the development of a specific skill set depending on the industry. It's important to gain business experience before remortgaging your house to begin a venture.
Clips
The best way to start a business is to start small with low financial liability and gain experience along the way.
11:10 - 13:16 (02:05)
Summary
The best way to start a business is to start small with low financial liability and gain experience along the way. Many people who believe high-performing professionals are good at business have little to no clue about what they're doing.
ChapterTips for Starting a Business
Episode#083 - Business Principles 101
PodcastModern Wisdom
The speaker discusses how blind optimism can lead people to invest a lot of time and money into a project without properly analyzing the risks involved.
13:16 - 14:15 (00:59)
Summary
The speaker discusses how blind optimism can lead people to invest a lot of time and money into a project without properly analyzing the risks involved.
ChapterTips for Starting a Business
Episode#083 - Business Principles 101
PodcastModern Wisdom
Despite popular belief that young CEOs found the most successful start-ups, the average age of CEOs in industry-changing businesses is actually 44, due to the wealth of experience and multiple failures they encounter in their journey towards success.
14:15 - 15:44 (01:28)
Summary
Despite popular belief that young CEOs found the most successful start-ups, the average age of CEOs in industry-changing businesses is actually 44, due to the wealth of experience and multiple failures they encounter in their journey towards success.
ChapterTips for Starting a Business
Episode#083 - Business Principles 101
PodcastModern Wisdom
The founder of a successful event promotion business shares his story of starting a business right out of university and how he and his partner made it work despite lacking experience.
15:44 - 20:05 (04:21)
Summary
The founder of a successful event promotion business shares his story of starting a business right out of university and how he and his partner made it work despite lacking experience. He encourages taking risks and learning from mistakes made along the way.