Chapter 1: The Allure of Quick Wealth

Many individuals find themselves in a position of urgency, seeking to generate income swiftly. Online, you’ll often encounter stories of people earning $5,000 to $10,000 monthly just months after launching their businesses. However, a bit of investigation reveals that these cases are rare and misleading.

A savvy entrepreneur typically allocates a minimum of five years to truly establish their business. This duration allows for the necessary learning curve and skill development. The initial years often involve setbacks, yet these experiences ultimately contribute to future success. This is why you may hear phrases like, “they appeared out of nowhere”; success tends to accumulate over time, leading to eventual breakthroughs.

Let me share a personal experience. I found myself needing to finance my college education, which amounts to around $50,000. While I could take a job, I also require ankle surgery that will keep me off my feet for months. With only 1.5 years to gather the funds, I felt compelled to seek quick income solutions. However, I’ve come to realize that launching a business under such pressure is unwise. In 1.5 years, I could make some headway, but it would require an exhausting commitment that I’m not prepared to make.

Successful individuals often think beyond the immediate future. My new strategy is to write on platforms like Medium, sharing my thoughts and generating income that way. I plan to live at home for a year and secure a job with an average salary of $50,000 to pay off my college debt. I'm perfectly comfortable with this arrangement, as it seems like a sensible approach.

What I’m emphasizing here is the need for more grounded expectations. After attempting to build various businesses over the past three years, I frequently changed direction due to boredom or difficulty. However, I’ve learned that achieving success requires relentless dedication to one venture over an extended period.

This is why only 2% of people become entrepreneurs; they often face tough choices between enjoying life and pursuing their careers, a sacrifice I’m not willing to make.

I've encountered many entrepreneurs who advocate using insecurities as a driving force in their business endeavors. Personally, I find this perspective misguided. Instead of succumbing to insecurities, one should focus on understanding and overcoming them psychologically.

So, if your intention in starting a business is to make money within five years, it’s best to reconsider. I've watched numerous videos discussing the realities of building a sustainable business, and unless you possess immediately applicable skills, achieving success in less than five years is highly unlikely. I’ve fallen for the “get rich quick” schemes for too long, and they never yield results. The true path to wealth is through consistent, gradual improvement and iteration.

Moreover, the concept of passion in business is nuanced. A successful venture often revolves around consumer needs rather than personal desires. You might feel enthusiastic about your product, but what happens if demand wanes? This scenario explains why many YouTubers, who initially produced genuine content, now focus on churning out material to attract views, desperately trying to keep pace with trends. A more effective approach is to engage in work that resonates with your values rather than mere personal whims, a lesson grounded in psychological understanding.

The first video discusses the reasons against starting a business impulsively, focusing on the pitfalls of chasing quick riches.

The second video reinforces the notion that aspiring entrepreneurs should consider the challenges and long-term commitment necessary for success.