How do I recognize 30 Day Money Opportunities as a Professional Entrepreneur?
When you have to pay your bills it can be tough to venture into uncertainty. The difference between business owners and Professional Entrepreneurs are vast. The reality of business is startups will negative cash flow. You can expect no profit for at least twelve to eighteen months. There is no profit to be earned in startups. True business owners do not take money from their business. True business owners take profit from their business. That is why business owners make millions of dollars per year. The business owner has a right to earn huge amounts of money. The sacrifice they endure is intolerable to 99.99% of our population.
Seldom will you locate a business that is profitable on day one. Do not incorporate a business and say you are an “entrepreneur”. You are a business person. Suck it up and prepare for the long haul. You will probably make little to no sales your first 120 days. Deal with it.
If you are borrowing money from the business to live off of you are running a business formula for failure. I picked companies for a living. Number one rule for choosing a company investment “Do not invest into any company where you are paying for the owner’s living expenses. The Business has an employee who thinks they are an owner. They will abandon the business when they are no longer getting paid.”
Every day you stay open increases your “market presence”. Every day you post on Facebook shows customers you commit to stay around. Every day you place the sign “open” on your storefront you provide confidence to customers you will not vanish. People need to trust a brand. No one trusts a brand that they are not certain will last 6 months. What happens if a product breaks five months from purchase? Would you buy a product if you don’t know whether you can return it or get customer service in 6 months?
The point is businesses are about brand. When you first start you have no brand. It takes time to build brand. Brand is market value. Market value has a real value. It is part of valuing a business according to a certified Accredited Financial Analyst (AFA) valuation. When you do not see sales it does not mean you are not building value for your business.
Answer some Hard Questions
If you are a person with bills to pay can you afford eighteen months without paychecks?
If you are a person that has no savings can you afford uncertainty?
If you are a person who supports a family can you stop providing?
Most people answer no to all of the above. It is for this reason most people cannot be business owners. My approach is different. My approach is entrepreneurial. My approach earns money on any deal — regardless of “time in business”.
Earning Money in exactly 30 Days
I tell myself to earn a certain amount of money by the first of the month. I set a goal to earn the amount of money. I review the resources I have. I execute based on circumstances. I analyze circumstances that allow me to exploit market conditions. It is a simple philosophy. My goal has been as high as $75,000 in a single month. I have hit the number. It has been as low as $12,000 in a single month. I have also hit that number.
The goal to achieve is correlated on my particular needs for the month. I am a professional. I am not a business owner. This means I have skills to apply to various circumstances. As an entrepreneur I must earn money without being employed. If you hold no employment status you are by definition self-employed. The Internal Revenue Service categorizes you as a “business”. You pay self-employment tax. This does not mean that I am a business owner. I have limited to no employees.
Characteristics of the 30 Day Entrepreneurial Deal
Now that we understand distinct differences between opening a business versus being a professional (that is incorporated) we look how to recognize an opportunity. Opportunities are business ventures that result as a byproduct of some situation. As a Professional Entrepreneur it is your job to recognize situations that allow opportunities. Your opportunity can take many forms. Sometimes opportunity will present itself in an industry you would have ignored. Your goal is to “earn” a “profit”. Your goal is not to build a brand. Businesses build brands. You need to be paid by the 1st of the month. You have neither the luxury nor accommodation of time. Opportunities are summarized in a concise parameter. I will offer you an easy to understand definition:
Entrepreneurial Opportunity — A situational endeavor where performing businesses lack resources to pay for competent help. 2) The need to have paid help to increase profitability. 3) Unable to solicit additional work load due to the lack of working capital.
An Entrepreneurial Opportunity is the perfect place for a Professional Entrepreneur. You are looking to identify a business that is 1) open, 2) has consistent customer base, 3) has an owner doing most the work, 4) owner does not have time or resources to concentrate on anything else but day to day operations, and 5) wishes they could become something more but lacks the money to pay a person or stop earning money to figure out how.
Entrepreneurial Opportunities do not pay you up front. That is the most important feature of the opportunity. Professional Entrepreneurs are tasked with assessment requirements. You must assess the likelihood of earning money in short periods of time. You must quantify the likelihood given the resources you see. You enter the transaction because the person welcomes help at “no upfront cost”. Your ability to get paid is dependent on performance. You must have knowledge how to easily get from point A to point B. Point A is starting your work. Point B is getting paid. Professional Entrepreneurs that fail to judge the life cycle of their income are at fault.
If you judge opportunities correctly there is no issue getting payment. There is no issue seeing payment within a thirty day cycle. The opportunity must be measurable. Find an existing business that can make more money in 30 days but lacks the resources to commit to the “human component”. This is how you earn money. That human component is you. You will find people overly generous with compensation if you wait for payment. When you perform work for no upfront pay people feel indebted. You can utilize this sentiment to leverage your position. Leverage allows you to obtain two, three sometimes four times as much versus getting paid up front. A Professional Entrepreneur knows this and values it.
Welcome to the profession of a Professional Entrepreneur. If you need money up front before you start you may have to pick another profession. You may be an employee. Don’t confuse the two.
About Christopher: Christopher Knight Lopez is a Professional Entrepreneur. Christopher has opened over 7 businesses in his 14-year career. Christopher’s purpose is to take advantage of various market-driven opportunities. Christopher is a certified Master Project Manager (MPM) and Accredited Financial Analyst (AFA). Christopher previously held his Series 65 securities license. Christopher also has his General Lines — Life, Accident, Health & HMO. Christopher has managed a combined 286mm USD in reported Assets Under Management & Assets Under Advisement. Christopher has work experience in 29 countries, raised over 50mm USD for various businesses, and grossed over 7.5mm in his personal career. Christopher worked in the highly technical industries of: biotechnology, finance, securities, manufacturing, real estate, and residential mortgages. Christopher is a United States Air Force Veteran. Christopher has a passion for family, competitive sports, fishing, martial arts and advocacy for entrepreneurs. Christopher provides self-help classes for up-and-coming entrepreneurs. Christopher’s passion to mentor comes from belief that entrepreneurs need guidance. The world is full of conflicting information about entrepreneur identity. See more at www.christopherklopez.com