Everything is Toxic!
Being an Entrepreneur is no better than being a drug addict or a street whore… and that’s an insult to any self respecting drug addict or street whore.
Sell your soul to get a deal done - Yep, that’s right. It doesn’t matter if it’s a sales order, an equipment buy or investor funding, you will say anything and do anything to get it done. This usually works in the short term but works against your own long term best interest.
You get into business with the wrong people - I started out on my own in 1993 and did my first minority position founding partner deal in 1999 with 22.5% of the company. I put in $400,000 in cash and the other guy with 22.5% reserved a domain name for $39 that we ended up not using. We had to buy him out for $100,000 early on just to get rid of him. The senior founder with 51% also gave away equity to students and foreign nationals that almost destroyed the company.
Your business partners will fuck you - yep, that’s right. From 1999–2019 I have had over a dozen companies with business partners and everyone has fucked me except one. My buddy Bruce and I started G3i Ventures LLC in 2008 and I bought him out for $1 in 2010. Anytime he wants back in I’ll sell him his half back for $1 (plus 9,999,999 more). Hahaha. Just kidding Bruce. I love ya!
Your customers don’t care if you live or die - that’s right, they pay you for the same reason the nerdy guy pays a prostitute, they need you, at least right now. Once they don’t need you anymore or you cease to be relevant then forget it.
The gravy train doesn’t run forever - when that quick money starts coming slow you better check yourself. You better stack up cash while you can. Once you’ve had money, being broke shit sucks even more. Don’t blow your money on stupid shit. Understand how to keep expenses low and profit high.
The social media world is waiting for you to fail - Yeah, that’s right. Those IG, YouTube and Facebook followers you love? Post a pic of your -$63.14 bank balance and see how long it takes for those mother fuckers to pile on. It won’t take long. Oh, and don’t expect any help from your so called “friends”.
You will find out who your real friends are… News Flash, you don’t have any friends - Yeah that whole “friend in need is a friend indeed” bullshit, that doesn’t fly in the real world. I have a vast network and reached out to 8 people on behalf of a friend of mine and only 1 of the 8 replied. These are people I’ve known for over 20 years that I helped establish them in business and they don’t even reply to an email where I make an introduction. Yep, that’s how the shit works.
Enjoy being broke, even when you aren’t. - When growing the business all your smart money is going into growth. That means ever dollar you have should be working for you and not sitting in the bank. Unfortunately all it takes is one thing to go wrong and you risk losing it all. Keep a one year backstop safety net.
Getting high off your own supply - If you are lucky enough to be one of the 4% of entrepreneurs that succeed then you will likely think you are the most amazing person in the world. Relax, you aren’t. Not even close. Don’t believe the press release. It’s supposed to make you look good. You aren’t that special.
The IRS doesn’t fucking care - Yeah, make sure you make them happy because if you don’t they will make your life hell. That’s why your accountant and attorney are your best friends. Buy only the best. While you’re at it, check out that list of non-extradition countries just in case.