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OFF-TOPIC Losing Motivation ??

LaughedAt

Contributor
Sep 20, 2007
263
77
33
30
Israel
Hello there;
As I mentioned before (in my introduction), I'm currently in college for an Accounting degree, I did it because I was advised so by a very successful businessman and also because it can be fun and somehow useful for my career as an entrepreneur!
Well, right now I'm doing my degree, but I can't stop reading about business and entrepreneurship, I've managed to find so many websites/magazines/forums that provide priceless information about the career I'm really interested in, and I couldn't be more motivated to finish school and get some things going, but the problem is that, with all the great things around me that are keeping me motivated and optimistic, I'm really really horrified by thoughts of me finishing my degree and losing motivation and starting thinking things like :"oh hell, why would I need a business?? a job is easier and consumes less time" or "man I'm not ready to take risks to start a business, entrepreneurship is only for geniuses"!! :nono:
I've seen it happening to many people around me and it really scares me as I don't wanna end up like them, miserable with a useless job and a shitty life!!
So my question is: How can I still be as motivated as I am now in four years??
You'd probably say "It's up to you to stay motivated", but it's not that easy, so many things can change, and that's what I'm afraid of, because sometimes I tend to start thinking "SLOWLANE" and jobs but I immediately come to this forum to regain my enthusiasm, plus I'm doing things like hanging a poster of my dream car (the Murcielago) above my head so it would be the first thing I see in the morning.
Any further advice would be truly appreciated !!
Best :smxB:
 

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PurEnergy

New Contributor
Jan 4, 2008
177
15
27
Personally I don't think there's anything wrong with the path you're presently taking. You can start a business now and at the same time get your education. If business gets good, then you have just given yourself the OPTION of whether or not to continue your education.

College can be a good environment to surround yourself with motivated people who can keep you motivated. There are no guarantees so having a solid foundation on which to build your future can start right where you are, in college. Just be sure to take classes that will benefit your goals, desires, and teach you the things necessary to run whatever business you have in mind.

Never quit!
 

kimberland

Bronze Contributor
Jul 25, 2007
825
120
38
Easy answer... start investing now.

You're studying accounting, right?
(BTW... that's my base also)
Take those skills, drag out some financial statements
and start analyzing.
Do a 10 year discounted cash flow,
add the book value of the company
(throwing out any "garbage" like Goodwill),
compare that to the stock price.
Is it a bargain (trading at 50% of the price)?
Is the business strong?
Do you like what the management team is doing?
Then buy.
Even if it is one lot.
Yeah, sure, you'll "lose" money (due to the commissions)
but you're investing in your education.

Think that doesn't apply to your future as an entrepreneur?
Think again.
The same skills are used to buy companies outright.
Do this analysis for a few years and
you'll be able to look at a set of financials
and know immediately whether it is a bargain.
 

nipsid

Contributor
Jan 6, 2008
131
25
28
Phoenix
well im in a similar situation. Every person that i meet goes mad when i say i want to start a business. They say things like its to hard to do that, you cant do that, your going to fail, you should focus on getting a good job and so on. Its really hard for me to put up with it so now when people say what do you want to do? i say not sure, haven't decided when in fact i have the next 5 years of my live planned out! Its also funny to look at the people giving me negative advice, which might help you. There not millionaires, they do not have business experience, they are not investing BUT there definitely in the rat race and not leaving anytime soon :rofl: instead of dreaming about the luxuries in life you want, like the Murcielago think of how you can afford it and stick to that plan. Thats the main way i stay motivated. :cheers:
 
OP
OP
LaughedAt

LaughedAt

Contributor
Sep 20, 2007
263
77
33
30
Israel
Good advice guys, thank you!
BTW, I was thinking of investing in the stock market, because I have saved a good amount of money while working shitty jobs and I'm ready to take a risk, what do you think ??
 

randallg99

Bronze Contributor
Aug 9, 2007
1,390
179
92
NJ
Good advice guys, thank you!
BTW, I was thinking of investing in the stock market, because I have saved a good amount of money while working shitty jobs and I'm ready to take a risk, what do you think ??

just do it
 

camski

Contributor
Jul 24, 2007
247
97
46
Noblesville, IN
I guess my question is, why are you waiting for four years? You can be an entrepreneur RIGHT NOW!!! Start small. If there is one piece of advice I can give you with absolute certainty is to not wait. Get started and take some action. you will not regret it.
 

David

New Contributor
Read Millionaire Fastlane
Jan 14, 2008
74
8
15
31
Sydney
Hi mate,

Yeh basicly I am in the same shoes as you, entrepreneuring is what I really wanna do as well. When I finished school my parents recommended me to do my accounting @ college. BUT guess what? until mid course I just slackened and decided accounting was boring therefore failing my courses.

Anyways after a few thoughts coming to mind 'should i drop out or should I stay', I decided to work full time and study part time. I got into an accounting position, of a company which also provided me with a pretty good salary.

For now I've gone back into studying as I have goals and starting on shares with the money i make working. I still have that entrepreneurer mind set and still wanting to achieving a successful business in the long run.

It all really depends on you, find out what you want and how you gonna get it. Be realistic though, talk is easy, doing the work to get there is the hard part. Accounting won't hurt either, its goods a really good course in general and gives you the skills you need to be successful.

Anyways good luck with that
 

Diane Kennedy

Bronze Contributor
Aug 31, 2007
795
209
49
I'm with David on this. Maybe accounting as a profession isn't for everyone, but understanding financial statements is critical to business owners and investors.

True story: About 12 years ago, there was a new start-up brewing company. They had a great name for their beer and although I'm not a beer drinker and so can't really say, I heard the beer was great. The issue, of course, was how to they get the beer out there to the consumers. They needed shelf space.

So, they created a very high incentive sales plan with great payments to the sales guys when they got good shelf space. In fact, when you added up the sales commissions and the cost of goods, it was higher than the sales price of the beer. And, there was no limit to commissions - they ran as long as the beer was placed.

So, for every bottle of beer they sold, they lost money. And, it was going to be that way forever because of the contracts that they had written.

I had clients who wanted to invest in the company and I pointed out this problem. The clients asked the promoters, and their answer was...."We'll make it up in volume."
 
OP
OP
LaughedAt

LaughedAt

Contributor
Sep 20, 2007
263
77
33
30
Israel
I'm with David on this. Maybe accounting as a profession isn't for everyone, but understanding financial statements is critical to business owners and investors.

True story: About 12 years ago, there was a new start-up brewing company. They had a great name for their beer and although I'm not a beer drinker and so can't really say, I heard the beer was great. The issue, of course, was how to they get the beer out there to the consumers. They needed shelf space.

So, they created a very high incentive sales plan with great payments to the sales guys when they got good shelf space. In fact, when you added up the sales commissions and the cost of goods, it was higher than the sales price of the beer. And, there was no limit to commissions - they ran as long as the beer was placed.

So, for every bottle of beer they sold, they lost money. And, it was going to be that way forever because of the contracts that they had written.

I had clients who wanted to invest in the company and I pointed out this problem. The clients asked the promoters, and their answer was...."We'll make it up in volume."
Very [SIZE=-1]funny story ma'am!!

[/SIZE]
 

kimberland

Bronze Contributor
Jul 25, 2007
825
120
38
I'm not in public accounting.
I started in corporate finance and then moved to new business development
(product launches, M&A, system roll outs).
I found public accounting boring as hell (sorry Diane but that was true for me).

I'm with Diane.
I don't know a single successful entrepreneur who can't read financial statements.
Sure you don't have to go to school for 4 years to do that
but it doesn't hurt.

Just do while you learn.
All this learning, learning, learning in isolation
doesn't go very far.
Does that mean you'll make mistakes?
Of course.
So start small and just do it.
(Do I sound like a commercial or what?)
 

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tbsells

Contributor
Jul 27, 2007
304
57
31
Ohio
I'm with David on this. Maybe accounting as a profession isn't for everyone, but understanding financial statements is critical to business owners and investors.

True story: About 12 years ago, there was a new start-up brewing company. They had a great name for their beer and although I'm not a beer drinker and so can't really say, I heard the beer was great. The issue, of course, was how to they get the beer out there to the consumers. They needed shelf space.

So, they created a very high incentive sales plan with great payments to the sales guys when they got good shelf space. In fact, when you added up the sales commissions and the cost of goods, it was higher than the sales price of the beer. And, there was no limit to commissions - they ran as long as the beer was placed.

So, for every bottle of beer they sold, they lost money. And, it was going to be that way forever because of the contracts that they had written.

I had clients who wanted to invest in the company and I pointed out this problem. The clients asked the promoters, and their answer was...."We'll make it up in volume."
Come on Diane........They just needed a bigger truck!:smx8: Ha!
 

Andrew

Contributor
Aug 8, 2007
190
41
26
Why do you have to wait until you have a degree to start your business? Despite how tough it may seem right now, once you graduate, the social pressures to start making money immediately explode. Right now no one cares if you make $100 a month or drive a crappy car (if you even own one at all.)
 

Elliott

New Contributor
Jan 18, 2008
65
12
19
35
Minneapolis, Minnesota, United States
About the people who tell you that you can't do it, and should just give up; I simply wouldn't mention it to them. That's what I do. Share your dreams with positive people.

These people who trash your ideas aren't bad people, they're just saying it to justify their own lives. When they say entrepreneurship just isn't smart, they think "I do smart things, I didn't do it, entrepreneurship isn't smart."

Now, its true that some people can be really fool-hearty, have no plan, no support and little chance of success, these people need to hear a "Yes, if", not a flat "No". They need to hear helpful suggestions and have some guidance.

I only talk about stuff like this with my positive friends. Happiness loves company, too.
 

yveskleinsky

Bronze Contributor
Speedway Pass
Jul 26, 2007
2,233
495
192
42
Hello there;
So my question is: How can I still be as motivated as I am now in four years??
Who the hell knows- 4 years is a long time! You will be at a totally different place in your life. Don't focus that far ahead, there's no point.

It's like when you run a marathon, you don't focus on all 26 miles- you'd get overwhelmed. Focus on the next 20 feet in front of you, then the next 20, then the next...
 

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