Many Paths of the Entrepreneur

Many Paths of the Entrepreneur

21 Jun

There are many ways of being an entrepreneur. One entrepreneur starts a company with no money and sells off part of the company to shareholders to scale out his/her growth. Another elects to raise cash by going to friends and family while another sells products to fund payroll, R&D and manage cash flow. Someone who was lucky enough to inherit a business might be in a position to foresee monetizing products today to leverage some other opportunity later. None of these paths are right or wrong they are the choice of the entrepreneur.

All paths have pluses and minuses. The mompreneur may elect to stay small working from home so she can spend time homeschooling kids. It is my belief you can’t exist as a sole operator but who am I to say what the right way is for you?

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In my career, I have used a number of different paths depending on the business I was building out and my financial needs at the time. I have always picked what I thought was right for me at the time. Some of those decisions were born out of my immediate financial needs, fear, short-sightedness, immaturity and even lack of experience and know how.

Early on I had to take on a partner to manage day to day because I had my hands full with another business. When it came time for a crucial decision in our expansion I was unable to convince the partner to license our product to our competitors. We would have made hundreds of millions of dollars by collaborating rather than competing but on the other hand, I would not have had the business in the first place without giving up control to the partner to grow.

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The path I used in my speaking and consulting career was different than the one I used in the development of my real estate company and both of those are different again than the one I am using to build out my digital footprint at GrantCardoneTV.com.

The bottom line is there are many many paths for you as an entrepreneur.

You have to figure out what this the best path for you. Starting out you may have to monetize quickly in order to feed your family and fund the existing cash flow needs of the business. No one should ever try to make a case for what is the right way for you or that their way is somehow superior. Right or wrong is irrelevant to your needs and there are many paths to becoming a successful entrepreneur.

Your way doesn’t make my way wrong, any more than my way doesn’t make your way wrong. At the end of the quarter, the year or your career you will be the one to judge if you took the right path for you. And as long as you never quit, outwork everyone else, and continue to push you will be pleased with the results.

I hope this helps and good luck finding the right path for you. If this helps you or you have questions please let me know in comments.

Be great,

Grant Cardone

  • Maxine Goodman

    Love the article a lot of times business owners find it difficult to delegate control of the business to others; however truly two is better than one