Nothing Ventured Nothing Gained

 This is the motto of all Entrepreneurs on earth and beyond. The point is that if you don't risk anything ever you will always have nothing.

So, the trick is to know what to risk when in order to succeed. Many people try to start their first business with a whole lot of money. This is usually a really bad idea unless you come from real wealth to begin with where you can start many businesses even if 9 out of 10 fail.

So, my idea was more like Steven Jobs and Steve Wozniak to start something in my garage on a low budget and then kick whatever profits I had back into the business.

Some people do this by keeping their day job and working their new business on weekends. This is one way to do this if you are young enough and healthy enough  to succeed in this way. But, if your main job is a salaried job this likely won't work. 

You would have to be working just 40 hours a week by the hour to work on weekends to succeed in this way in something in your garage or something.

My ideas always never had anything to do with owning or renting a store or starting a restaurant. For example, a restaurant is one of the riskiest ventures you can get involved in. So, unless you have run other restaurants and succeeded for other people starting a restaurant of your own will likely fail eventually 9 out of 10 times.

But, there are always exceptions to this rule too. So, this might be important to remember also.

The point here is that if you never risk anything you will never have anything.

All life is a gamble in some ways so you have to learn what is worth risking for and what isn't.

And it usually takes people until their late 20s to wear enough hats to be successful in businesses.

However, if you have relatives or friends who are already successful helping you you might succeed then as young at 18 to 20. But, getting along with these people is important too in the long run. 

In other words: "Do you trust these people enough to be in business with them long term?"

Trust is a really important thing in business with partners or helpers. Without this it can all fall apart pretty fast.

I have preferred mostly to just have close family  (like wife and kids) in business with me if that because this I could usually manage fine. When you extend this out too far all sorts of problems can arise.

So, you have to be wise to succeed and you have to be very careful who you are in business with.

Nothing Ventured Nothing Gained