Entrepreneurs don’t have a special gene for risk—they come from families with money

[jilla82]

NO. go back to the op's article.
It's mostly about Money.
Not mentality first.

Money gives you the ability to have said mentality.

MONEY First, mentality second.

You can try to have that mentality and you're broke and see where that gets you.


You can take all the risks you want to get your startup going. but dont have that 30k old girl was talking about from family/friends and your own personal to get it started. and see how far you go with your risks. what are you going to risk? you're to broke to own a home and take out a 2nd/3rd on your home. if you're real broke and black. odds are your house aint going up in value if you live close to other black folks(sad, but real in most areas.) so therefore you can't get but so much excess on the house even if you have one.

so thats out. how you gone get that doe if you just live in apartment? ya mama is broke, she can't hit you with much. pops wasnt around and he dont have much even if he was. he can't help. your sister is late on rent again. she needs help. your bro just got out of jail. he needs a place to stay. and you working a basic 9 to 5 job barely making rent yourself.

so explain how are you going to get that 30k or so to get that startup popping? in reality. you aint. for the most part. this is what i've been telling yall. These american dreams that we're are being sold are doing more harm than helping us. only a select few can slip thru the cracks that dont come from money. and only that top top top come from money like that.

So most people that purse these fake dreams never make it. and its not for not trying or a lack of hardwork/intelligence. its not about that. its about the DOE. you need it as seed money up front in the beginning. So this means the rest of us need to go to work everyday to make a living. maybe you can move up eve

First off...I appreciate the fact you can have a discussion w/o leaning on the typical internet insults.

Now...your example, and reasoning is exactly what im talking about when I said mindset is everything.

First...why would said person HAVE to start a biz where you need $30K?

Also...there are a ton of ways to make money nowadays.
I averaged around $70K when I was flipping used mens clothing from thrift stores.
A sales job is something damn near everyone can get...and you can make 6 figures if you work hard at it.

I mean...I could go on and on about how people can get the money they need.

If you think its impossible...it will be.

This is exactly what im talking about when I said our people are thinking about the wrong things.
The info is out there on how to get the money...but we are so focused on talking about why shyt wont work.

It comes down to low expectations, and little financial knowledge.

To make matters worse, black folks that are out there getting theres will be pushed to the side by their own people because they will be considered c00ns only because they dont think like the group.

Im a college dropout, with no real work experience other than serving tables in a restaurant.
Ive been working online the past few years....and decided I wanted to enter a certain industry because I want to start making real money.

You know what I did?
I got on Google and called every small business owner in the industry im interested in.

Some told me to kick rocks, and some said they didnt have time to deal w/ me because I have no experience.

But a few told me to come in and talk...and some other people gave me a few phone numbers to call.
I ended up in front of 3 men that have a ton of experience in the industry, and they gave me an opportunity to work with them.
So now I have 3 mentors showing me exactly what I need to do to get ahead...with the intention of me starting my own firm in 2 years.

That shyt wouldnt have happened if I sat in the house feeling sorry for myself because im black, have no education, and no work experience.

The world is much different than a lot of people perceive.

I understand exactly what youre saying because I used to think the same way...
...but once I got out here and started hustling I realized its not impossible.

actually you're wrong about that bolded part.

way wrong. do you know how many black men in particular are trying to get rich? Thru music, sports, slangin, stealing, selling multiple stolen products, 5 links(add on your favorite pyramid scheme nonsense here), etc. etc. etc

Im talking getting rich via entrepreneurship/business, etc....

The numbers just arent there w/ black folks.

 

[jilla82]

The fact that so many people in here think you need VC money...or a loan to start a biz proves my point.
There are a lot more options out there.

 

[Pressure]

The fact that so many people in here think you need VC money...or a loan to start a biz proves my point.
There are a lot more options out there.

Juelz Wake u

• Pressure
• Feb 13, 2017
• juelz spin

Spin it.

 

[Pressure]

All the arguments I am seeing here are attempting to discredit the article by suggesting skills or schemes that will allow you to gain access to capital.

Did you all not read the article?

 

[Rout3r2035]

This is 1000% true. Think about Mark Zuckerberg as an example. Prettied up media coverage and The Social Network would have you believe he was some prodigy that built an empire based on his freakish programming prowess. No mention of the fact his parents set up expensive private tutors to help him along when he was very young. What are the chances he develops Facebook without that huge early advantage?

 

[Althalucian]

This is 1000% true. Think about Mark Zuckerberg as an example. Prettied up media coverage and The Social Network would have you believe he was some prodigy that built an empire based on his freakish programming prowess. No mention of the fact his parents set up expensive private tutors to help him along when he was very young. What are teh chances he develops Facebook without that huge early advantage?

Exactly. That's the kind of early advantage you need for a child to be maximally successful. It's a combination of money and mentality.

 

[Cynic]

The stats for generational businesses disagree....:hitunes:

What money do successful immigrants running from the 3rd world have ? :getmarriedbrehs:

 

[Pressure]

The stats for generational businesses disagree....:hitunes:

What money do successful immigrants running from the 3rd world have ? :getmarriedbrehs:

Are they more successful?

 

[Cynic]

Are they more successful?

some are more successful than westerners and some immigrants

 

[Alpha Male]

All the arguments I am seeing here are attempting to discredit the article by suggesting skills or schemes that will allow you to gain access to capital.

Did you all not read the article?

the article isn't breaking new ground or blowing anyone's mind. yes people born with means have more resources to start their business than those who don't. doesn't take a rocket scientist to figure that out. in other news water is also wet.

but not every successful businessman/entrepreneur came from means.

 

[Pressure]

some are more successful than westerners and some immigrants

Are they as a group more successful than Entrepreneurs who come from money, again as a group?

 

[Cynic]

Are they as a group more successful than Entrepreneurs who come from money, again as a group?

Entrepreneurship is about individual success not collectivism .... every man for himself:youmadpeon:

 

[Mr Rager]

Its about mindset more than anything and having a solid mentor.


I know too many people from rich families who turn out to be complete fuk ups.

A mindset won't pay for rental space...money will
A mindset won't pay production costs...money will
A mindset won't pay employees...money will

with that 'mind over matter' shyt and let's be reality. Cash is king. Believing in yourself is only one small part of the larger recipe.

 

[Kilgore Trout]

A mindset won't pay for rental space...money will
A mindset won't pay production costs...money will
A mindset won't pay employees...money will

with that 'mind over matter' shyt and let's be reality. Cash is king. Believing in yourself is only one small part of the larger recipe.

You are acting like female with that hoe babble, no logic or context in your entire post,

non entrepreneurs love arguing back and forth to no end but I wont play that game with you.

When I say mindset I mean, In regards to what you do with your money. If you come into some cash... do you buy some shyt you can floss with temporarily. Do you turn up? Or do you use that cash as an asset.

Give most people 100k and they will fukk it all off in a few months.

Im not saying anything new, its common knowledge depending on what kind of cloth you are cut from.

You can blame the world or rich peoples money, but deep down you know you just arent built for it.


And about that stuff you said about rental space, production costs, and employees. Its just like anything else you start small and expand. Or are you with a with million unrealized ideas whose only thing stopping you is a small million dollar loan lol. I hope nobody gives you any money lol.

 

[jilla82]

Are they as a group more successful than Entrepreneurs who come from money, again as a group?

thats not the point though.

The point is that immigrants just go for it because they know whats available to them in this country.

Nobody is arguing that people w/ money have a leg up.
but that doesnt mean people w/o money cant do the same thing.

We have books out here like this:

where dude broke down how he got past literally every setback in his career.
But how many people do you think even know this book exist?

Dont have any money, but want to talk to rich people?
Make a list of successful people in the industry you have interest in...and call them.

Trust me...you will be shocked at the number of people you can take out to lunch just from a phone call saying "im interested in this industry and would love to talk to you about it".

This is the shyt I wish I knew when I was younger.
There are millionaires bored at home that would love to share the game with younger people.

What groups are you apart of? You on the board of directors of any local non profits?

So many ways to meet the people you need to know.