Adrian Nantchev's Blog, page 12

What makes entrepreneurs different from other people? - 15/101 Entrepreneur Questions and Answers

This is an except from my book: 101 Entrepreneur Questions and Answers.There are so many differences, it is ridiculous...Entrepreneurs have goals and want to live life to the fullest, because we have an end goal in mind.We become more and do more. Meaning that we are always improving ourselves and becoming better than we were yesterday and a year ago.We understand money, finance and how to create money from thin air. We understand the world of finance and how it all works as a global economy.We are not afraid to step outside of our comfort zone. We welcome being uncomfortable and criticism, because it is one of the best ways to become a better and mentally stronger person.Entrepreneurs are always improving their knowledge and skills, through learning, reading, exploring, experimenting and listening to others. This one is rather unique because a lot of people in the world stop learning when they leave school.Entrepreneurship is about solving problems for your customers and the more people you solve problems for, the more you are paid. This is one vital difference between entrepreneurs and employees because we are willing to sacrifice to work hard to build to dream big, act and our income is derived directly from our performance. The better we solve their problem, the more we are rewarded.This does not that mean these characteristics are exclusive to entrepreneurs, but that they are a bigger priority, when compared to other people.This begs the questions as to whether entrepreneurs are made or born? I can see both sides of the argument.I believe they are made, slightly more than believing they are born. Because two people can have the same kind of upbringing, background, age, gender, etc. But one of them just clicked and realised the potential of starting their own business and realised the pros and cons in having a job. Entrepreneurship is a way of life and it can only be realised within oneself when they are ready, prepared and have the need for it- only one of the two realised this. Now, you could say that it was down to him being born with this level of awareness, consciousness or critical eye, but these can also be taught and you can grow up into these skills are you mature.But I think one of the biggest differences is that we take charge of our lives and we wish to live it to the fullest, going beyond what society expects from us or what our family may have imprinted in us at a young age.

Are you an entrepreneur with too many ideas?

What to do if you have too many ideas? Here are a few ideas:Filter them down - think about what is required for each idea to become a reality. Is it really worth your time working on this idea?Write them all down- write down the idea, because it may not be worth your time today, but in the future it might be. But also, in the future you can pivot this idea and apply it into another business you have. Your idea is not worthless, but the potential for something in the future.Understand the principle of Access Not ownership- you can make more money by accessing things, as opposed to owning it. AirBnB, Uber and other apps and businesses out there do not own much, yet they access everything. Uber owns few cars, yet they access the car's of individual people from around the world. AirBnB owns little real estate, yet it has access to properties around the world. How can you apply the principle of access not ownership to what you are doing?What difference do you want to see in the world? Understand what difference you want to see in the world and make it happen. Does this idea really help you to make that difference? How future proof are the ideas? Will this business be around 10 years from now? Will it still function and work? Or will it be obsolete?Start with making £100 a month, then £1,000, then £10,000... Start small and grow, do not jump right into a million dollar company, unless you have already made a million a month.Start small, with time and £ that you can afford to lose.Read my book and learn from my mistakes from the businesses that I have started.Question of the day: what are you working on? What is your idea?Want to know how I can help you more: https://www.nantchev.com/consultingLearn more about me: https://www.nantchev.com/Subscribe to me on Youtube: youtube.com/nantchevFollow me on Instagram: https://www.instagram.com/adriannantchev/

Are Entrepreneurs Gamblers?

No, it is about making controlled and calculated risks. It is about understanding the marketing, understanding the demands and needs. It is about creating something that people want.We endeavour to minimise risks because we want to maximise the chance of our business succeeding.Learn about some ways to maximise your chances of successhere.Question of the day: How much control do you have over your business? What are you doing to maximize your success?Want to know how I can help you more: https://www.nantchev.com/consultingLearn more about me: https://www.nantchev.com/Subscribe to me on Youtube: youtube.com/nantchevFollow me on Instagram: https://www.instagram.com/adriannantchev/

How an entrepreneur can learn from their mistakes

Analyse what went wrong as you learn new things and take in new knowledge.Do a post-mortem of the business, and inspect what could have been different. Perhaps the business model you used was not as smart as it could have been? Perhaps the line of credit was dubious?Ask yourself: what am I missing? What don't I know? Because, you failed because there is something that you do not know, and it is down to you to figure that out.Endeavour to learn and apply, what is called, reflection in action, where you are adapting and learning new things as you experience them; changing your strategy as you learn new strategies. Here are some strategies and lessons that I have learnt over the past few years.Find a mentor and get his opinions on your business, I work with small businesses/entrepreneurs to talk about their business and discuss how they can become more profitable. Click here to learn more.Take a break from the business and come back to it - have a look at it again with fresh eyes.Question of the day: What mistakes are you making now? And, what can you learn from them?Want to know how I can help you more: https://www.nantchev.com/consultingLearn more about me: https://www.nantchev.com/Subscribe to me on Youtube: youtube.com/nantchevFollow me on Instagram: https://www.instagram.com/adriannantchev/

Where does an entrepreneur start?

When it comes to entrepreneurship, you start with yourself. You start with being the person you were meant to be. You start with your awareness, understanding your strengths & weaknesses, understanding who you are and what it is you want to do with your life.You understand, what I call, "The Perfect You". Do some personality tests to understand who you are and what it is you want to do.There are different businesses that you could start, and every one could be successful in their own way, but you have to be happy and competent with what you are doing with your life. If you are not, then you will struggle.Do these personality tests:https://www.16personalities.com/- my result is ENTJ.http://hexaco.org/- this test is much more convoluted, but detailed.There are some mistakes I learnt along the way as I was discovering my Perfect Self,here.Question of the day: who are you? What are your strengths and weaknesses?Want to know how I can help you more: https://www.nantchev.com/consultingLearn more about me: https://www.nantchev.com/Subscribe to me on Youtube: youtube.com/nantchevFollow me on Instagram: https://www.instagram.com/adriannantchev/

My $2.31 Billion Entrepreneurial / Investor Mistake

This is a story of missed opportunity- it is how I missed out on a investment that I have enough cash to buy in droves- maybe even by the 1,000's.This investment was worth dollars in 2011 and yet it is around $3,000 today in late summer 2017.It is a case of not being able to recognise opportunity and connect the dots when it mattered the most!It is a case of not recognising opportunity, having the wrong knowledge in my brain and being around the wrong kind of people that would not have pushed me to do more and be more.Now, I am learning and keeping a truly open mind as to what is happening in the world and new opportunities to buy different investments and make money from them.You can never have enough knowledge and awareness so as to not miss an opportunity...There are around another 100 mistakes that I have made in my time, as can be readhere.Want to know how I can help you more: https://www.nantchev.com/consultingLearn more about me: https://www.nantchev.com/Subscribe to me on Youtube: youtube.com/nantchevFollow me on Instagram: https://www.instagram.com/adriannantchev/

Why is greed good for entrepreneurs?

Greed is the desire to have more, but there is a difference between stealing and greed. Stealing is taking someone's property without their permission, greed is a desire to have more.When you have a strong enough desire to have more, you can either steal, mislead and swindle people- but they soon catch upon to you and you get what is coming to you.So, the only way to satisfy this greed is by doing good with the world- giving people what they want so you get what you want. By giving the world what it wants, and trading with it voluntarily, then you can become more and have more. You have to provide value to the world- to your customers, so they can give you what you want.Your greed is pushing you to accomplish more and do more. Your greed is helping you to become richer. Your greed is pushing you to serve and create more solutions for people, to which they will pay you, from there you can have the things that you desired and wished for.Learn about some of the mistakes that I have made on my journey to serve people here.Learn more about greed with this video by Thomas Sowell that I found recently.Understand that you are being rewarded in proportion to the size of the service you provide.Question of the day: Are you greedy? How are your channelling it?Want to know how I can help you more: https://www.nantchev.com/consultingLearn more about me: https://www.nantchev.com/Subscribe to me on Youtube: youtube.com/nantchevFollow me on Instagram: https://www.instagram.com/adriannantchev/

How entrepreneurs can be productive- as though they have 26 hours in a day

Is it possible to be productive enough, as though you have more than 24 hours in a day? Yes.It is down to you manage yourself- not how you manage time. Because time moves no matter what, but you have to be adaptable to it and manage yourself.Make a list of all the things you need to and work on the most important ones and bigger ones first- you have the most amount of energy in the morning and less so throughout the day.Define all the small tasks that will make tomorrow easier and so you have fewer things to do.Leverage Parkinson's Law where you allocate a certain amount of time to get things done, this way you are consciously getting the task done within a certain amount of time. If you allocate yourself 1 hour to complete a task, then that task will be done in the hour, where as if you gave yourself 10 minutes to do it, then it will be done in that time instead.Recognise the principle of the 10 Dark Years, where for your teenage years and throughout your 20's, you need to work on building a life for yourself. I am working, more or less, around the clock to grow my personal brand, YouTube channel and more. I am doing the work others will not do, so in the future I can live a life others cannot live.Learn more some mistakes I made in my 26 hour day,here.Question of the day: how are you applying these principles? What challenges are you facing?Want to know how I can help you more: https://www.nantchev.com/consultingLearn more about me: https://www.nantchev.com/Subscribe to me on Youtube: youtube.com/nantchevFollow me on Instagram: https://www.instagram.com/adriannantchev/

Why is success so hard for entrepreneurs?

It is supposed to be difficult, because if it was not then everybody would be doing it. The harder things are, the more rewarding them are. You will be rewarded in proportion to the level of service you give to the world- if your job is to sweep the floors then you will be rewarded in proportion, where as if it was to repair cars then you'd be paid more. However, if you mission is to help 1,000,000 entrepreneurs become remarkable, then you will be rewarded even greater.If it was this easy then everyone would be doing it and nothing would be worthwhile.If everyone can do something, or are doing something big, then it would be common place and not valuable.Greatness is fostered behind the scenes and takes time. It is an overnight success that is 20 years in the making.Check out this, and 100 other mistakes, that I have made on my road to doing something successful. Clickhere.Question of the day: what challenges are you facing?Want to know how I can help you more: https://www.nantchev.com/consultingLearn more about me: https://www.nantchev.com/Subscribe to me on Youtube: youtube.com/nantchevFollow me on Instagram: https://www.instagram.com/adriannantchev/

How entrepreneurs can expand their comfort zone

Be around wealth - 5 star hotels in your area, for meetings or dates. Go to where all the rich people hang out, whether hotels, bars or clubs.Read the Robb Report - people that read that have average wealth of £4m. it is a luxurious magazine- with helicopters, etc. Follow it and set it to see it first on Facebook.Read successful people's biographies- so as to understand what challenges they faced, yet you know that they were  ultimately successful.Start small in a business, and base it on research- do not just dive in, but start very small and only risk what you can afford to lose.Question of the day: what are you doing now to expand your comfort zone?Read about some other mistakes that I made here.Want to know how I can help you more: https://www.nantchev.com/consultingLearn more about me: https://www.nantchev.com/Subscribe to me on Youtube: youtube.com/nantchevFollow me on Instagram: https://www.instagram.com/adriannantchev/