One of Michael’s badass entrepreneur friend owns 10 companies. And she shares the three things she wishes to know at 21 years old. Let’s jump right in!
1. Know what you are good at, and stick with it
Every business can be broken down into three departments: Sales & Marketing, production (what you do/what you make), and the financial department. Usually, entrepreneurs are either good at sales & marketing, or production. Many entrepreneurs fall short of doing things on their own. But, it’ll take tons of time to get the result you want. Instead of doing everything on your own, focusing on finding out what you’re good at and stick with it.
2. Best use of your time
Highest value uses your time. She said, “Just because you good at it, doesn’t mean you should be doing it. If you suck at it, you definitely shouldn’t do it.” Many entrepreneurs may fall short of doing everything on their own. Imagine this, if you value your time at $20o/hr, would you like to spend time doing $20 or $30 job, or you rather delegate the job and make the best use of your time. For example, I don’t know anything about law. So we hire a law firm. They are expensive, but it still less than I tried to do it on my own (not to mention the quality.)
3. Use the 3 resources wisely
- Time – We all heard the saying that time is given equally to us. And most of us only have less than 22,000 days, after graduating from college. What would you do to make this 22,000 days different?
- Relationship – Hopefully, we’re all born with at least one or two mothers and fathers. And we grow our relationship from there.
- Money – Some may be born with more money, some less. But, you can always try to make more.
These are the three resources of your life. You always trade one for another during your lifetime. So, make sure you invest time to understand, grow, leverage, and make the best use of these three resources.
These are the three things that my awesome female entrepreneurs wish that she knew at her young age. And it’s never too late to make changes. Feel free to contact us if you have any questions. Until next time, we hope you’re growing profitably.