Entrepreneurship is a multifaceted adventure that, without a doubt, closely resembles a roller coaster ride. When you begin an entrepreneurial journey or “ride,” you are aware of the gamut of experiences, both disappointing and rewarding, that you will encounter as you undertake this challenge.
Entrepreneurial challenges are not unlike most challenges in life. Hard work, long hours, and anxious moments are just a few of the characteristics of the journey to most successful outcomes.
Reoccurring questions often roam the business mind, and—although they may be phrased in a variety of ways—are basically centered on these four primary issues: more sales, more cash, more time, and more of the “right” people.
However, for every success, there are hundreds of failures. The statistics are not only sobering, but downright frightening. More than half of all businesses started today will fail. The failure rate is astounding. Take a look at recent U.S. Bureau of Labor Statistics data, and this is what you will discover: After two years, across all sectors, 44 percent of all new businesses are no longer in business. After four years, 66 percent no longer exist. And, these survival rates don’t vary much by industry.
There are three basic ways of earning money which include trading time for money, trading money for money and trading expertise/value for money.
Society and the formal education system promote the first method of earning money which involves trading time for money. In other words, you work for someone else for a specific amount of time and then they pay you. Working for someone else drains your energy and you don’t make much money.
The second way to earn money is utilized by a small portion of the population and involves trading money for money. In other words, you are earning money through investing. Investing can be risky because if you lack additional funds then how can you invest any money in the first place? Therefore, many people can’t even try this option because they only have enough money to pay their bills.
The third way to earn money is the best option. This entrepreneurial option involves trading expertise/value for money. This is the strategy of entrepreneurial experts. You have a flexible schedule, work less, and earn more. You can make thousands of dollars a day in this option.
In order to earn money through trading expertise/value for money you need to first figure out who you are and what you can give to others. What information do you know that could help others? You can find value from previous work experience or even from your hobbies. From this you can create your intellectual property.
Published book for digital nomads, Abdullah is sharing what he considers the number 1 trait for success and living the lifestyle of your dreams. Also in his new book includes a 5-question action plan to get people on the path to choosing where they want to go. This can often be the most challenging for up-and-coming business owners as well as full-time employees that want to change their path in life. Answering these fundamental questions and getting very specific about where you want to go, and taking on acting on it, can make all the difference.
And with his background in public accounting and investing, Almanna’s new book covers the important steps people can make towards their own financial freedom – applying the methods he has used to get to where they want to be.
Don’t let societal beliefs stop you. The intellectual property market is wide, diverse, and ready to fill your pocketbook.
To get about Abdullah Almanna’s latest Entrepreneurship tips and adventures, connect with him on Instagram