Neville's Financial Blog

After talking to a couple wannabe entrepreneurs last week, I noticed some extremely strong misconceptions about starting new businesses and entrepreneurship in general.

One phrase that pretty much sums up entrepreneurship:

“It’s not the idea, it’s the jockey”

To prove this point. I am going to give away an almost sure-fire way to get rich:

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As China is currently undergoing its own industrial revolution, simply replicate some of the services offered in the fully developed western countries. Start large chains of dry cleaners, gas stations, coffee shops, law firms, tax firms, shipping centers etc. and you will become filthy rich.
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There, I just gave away a very feasible idea to literally become a billionaire. But who will act on it?

The person that has the courage to relocate to China and hurdle over the untold amount of obstacles is worth a billion dollars. NOT THE IDEA.

I told all my friends about my first online business idea, but I was the only one who acted on it. The idea wasn’t exactly unique, I just had the audacity to carry it out. After the business became lucrative, everyone wanted to be a part of it.

As Gandhi said, “First they ignore you, then they laugh at you, then they fight you, then you win.”

If you’re not the type of person who wants to jump all the hurdles and face the uncertainty of opening your own business, who cares! A franchise can offer great potential along with a tried-and-proven method to running a business already backing you. I suggest you check out Dane Carlson’s Business Opportunities Weblog for tons of great franchise ideas and articles about entrepreneurship.

So next time you hear someone tell you about a new idea, make your judgement based 10% on the idea and 90% on the person carrying it out.

I don’t like the phrase “It takes money to make money”

If this were the case, no one would ever obtain wealth. Someone who cannot make money without money, probably can’t make money with money either.

When you have money, you simply have a larger variety of money-making avenues to choose from. I’d like to revise the quote to say: “It’s easier to make money with money”

When you are strapped for cash you simply have to be more creative to make your money!

I’d like to share a quote I recently heard:

“I’ve been miserable when poor, and I’ve been miserable when rich. Let me tell ya, it’s a hell of a lot better being miserable when rich.”

–Dave Liniger, Founder of RE/MAX

This blog will be dedicated to tracking my financial progress. Today I turn 22, let’s see how far I can financially advance by the time I am 23.