Brian Tracy argues that 74% of self-made millionaires built their wealth through owning their own business. The main barriers are fear of failure, not knowing how to start, and thinking you need money upfront. He says ambition, energy, and willingness to work hard will attract the capital you need.
Hello there. Let's talk about gaining financial independence in your own business. 74% of self made millionaires in America going back 200 years come from self owned businesses. An individual started with an idea for a product or service, turned it into a business, built it up from the ground floor, and as a result achieved financial independence and success. The path to financial independence in business starts with being goal oriented and overcoming your fear of failure. There are probably three reasons why people never follow their dreams to start their own businesses. The first reason is, of course, the fear of failure. Fear of failure sets in your solar plexus and paralyzes you, stopping you from even taking the first step. In order to be all you can be, including becoming a millionaire, the first thing you have to learn to do is to confront your fears. You must learn to control your fears, to master your fears, to act in spite of your fears, and to be goal oriented in order to gain financial independence. Now, the second major reason for financial underachievement and failure is just plain ignorance. Most people do not know how to start and build a business, or how to invest in stocks or bonds or real estate or other financial vehicles. And for some reason, they never bother to learn. The third reason why people don't start and succeed in their own businesses is because they think that they don't have enough money. They feel that they cannot get the money they need from other sources. But most aspiring entrepreneurs go to their local banks to borrow money to fund their entrepreneurial ideas. When they are repeatedly turned down by the banks, they conclude that there's no money available for them and they give up. Well, as it happens, the most valuable assets you have are ambition, energy, imagination and a burning desire for success. If you have these qualities and you're goal oriented, if you have a willingness to work and sacrifice, you will eventually earn, attract or acquire all the money you need. You will eventually succeed. If you enjoy this video, please like comment and share it with your friends.
