Hey guys, good morning! Val Campbell here. Welcome! Hey, today’s Wednesday, and I'm gonna be talking about entrepreneurship. I'll be covering another session on it next week on the characteristics, but today I want to go through the three P's ofentrepreneurship.
I think we hear a lot about jobs, a lot about this company hiring, that company hiring, and you know, growth of jobs and they come in the country, and that's all great and fine, but I think it really starts with entrepreneurship. So as an entrepreneur, I wanted to talk about it.
The three P's of entrepreneurship might be a little over-simplistic to some—I can agree with that—but I think it gives us... it’s... I like the alliteration: patience, persistence, and passion. But I think it gives a nice summary of what it takes if you're gonna jump from, say, the job realm into the realm of entrepreneurship. So we're gonna cover the three P's of entrepreneurship today.
The first one's patience. I think we've all heard that Rome wasn’t built in a day, right? It just... nothing was. Ford Motor Company, Boeing, Microsoft—they weren't built in a day, and you know, no businesses. I think there's very few, if any, overnight successes. And you got to be careful with these get-rich-quick schemes that, you know, promise no investment, basically no time, and in two or three days you're gonna have X number of hundreds of thousands of dollars. Guys, that's... that's kind of a pipe dream.
There, you know, the majority of long-lasting businesses take time to grow and thrive. And I, when I was building my insurance business years ago, it took time to prospect, to build up the clients, to build up the renewal and come off policyholders. It was no overnight or a week or two months—it took a few years to really get it rolling. So you need to understand that, you know, if you're starting out as an entrepreneur, it's important to have the virtue of patience. So just realize that.
Number two: persistence: Like patience, it's not natural for everyone. Um, you know, let's be honest— you're gonna hear a lot of "no's" before you hear a single "yes." And having been in sales for a number of years, that's a very true... You don't just show up and everybody says yes. You go through a lot of "no's" to get those "yeses." But without persistence, entrepreneurial dreams or ventures can go up in smoke. And I think a great example of persistence is right up... up in my own neck of the woods here in Seattle: Amazon. When they started it out in the early '90s, they had to borrow a lot of cash, and it was doubtful whether they were ever gonna get over that hump and succeed. But their persistence—Jeff Bezos’ persistence—paid off to where now Amazon's a household word. It's a trillion-dollar market value company, but it took persistence for them to be successful, and it’ll take persistence for you as an entrepreneur as well.
Thirdly is passion: you've got to have a drive to succeed, right? You've got to be a self-starter Nobody's telling me to do this Post today—I'm doing it of my own volition because I'm a self-starter. But that's the key: our source of energy, our motivation, and even hard work, passion... If anyone ever tells you that entrepreneurship is easy,, they're either lying or they're not a real entrepreneur. Okay? Being an entrepreneur is not easy. Starting a business isn't easy. Being and entrepreneur, business owner, CEO—it takes a lot of work.
And one of my favorite sayings here: "The price of success is hard work." You've gotta be willing to do that, and that means maybe countless nights without sleep, meetings, phone calls, emails, even hard labor. But passion is what's gonna drive you. You’ve got to have a vision to drive your passion, to fuel you to go out and do what you want to do. My passion is really to help people economically, to be able to empower them so that they can improve their financial situation. So you got to find out what your passion is, and that's going to drive you if you're an entrepreneur.
So thanks for joining me today on the three P's of
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I hope you got some value out of it. I hope you know, maybe these three P's made sense to you. You're also welcome to connect with me on social media at the links provided. Have an awesome Wednesday, and we'll see you next Day. Bye-bye!