5 RULES Every New Entrepreneur Must Know | Tim Schmoyer Shares Secrets

I'm excited today because I have a special guest to introduce to the channel named Tim Schmoyer. Now Tim runs his own YouTube channel that's really popular. It teaches people how to become YouTube creators. I'm a subscriber. I watch every video that comes out and usually I'm commenting on it. And I actually did a video on his channel that you guys can check out. I'll leave the description in the link below. And Tim has gone from having a full-time job to be able to leave that and do YouTube full-time as a way to support his family. And now growing a business off of it. And I said, "Tim, that's an awesome story," and invited him on to share his tips. So he's gonna share his 5 tips for new entrepreneurs on how to get started. Tim, over to you.

Hey guys, my name is Tim Schmoyer, and Evan invited me to talk with you guys a little bit about some of the lessons that I've learned being a new entrepreneur here on YouTube, actually. The YouTube channel at youtube.com/videocreators where I train people how to master YouTube to spread a message that changes lives, and I really, really, really love doing that. So I launched out on my own doing this full-time about a year and a half ago and turned YouTube into my full-time business, I've learned many things, mistakes, as far as being self-employed, being an entrepreneur. And one of the first things that I learned is that number one, I can't undervalue myself. I shouldn't undervalue myself. I came into this— my default thinking is that the stuff I know, it's kind of common sense. A lot of people would know this. And I kind of just undervalued it. Both in like my consulting fees and in the training I was doing. After some time, a lot of people said, no, Tim, like this isn't common knowledge. Like you are underestimating what you know and the value that you are bringing, and you're actually almost bringing like too much value for people to consume. So as you guys are getting started in business, it might be easy to think like, ah, you know, maybe to undervalue yourself, undervalue yourself, and just kind of have a lot of humility in that area, but also maybe not give yourself, you know, the value that you actually deserve. Number 2, another thing that I learned is that there are many distractions that come your your way that are disguised as opportunities. There's no lack of things you could do, resources you could tap into, projects you could tackle, people you could work with, you know. And I've learned that a lot of them are good opportunities, but ultimately they're, they're distractions from me actually, you know, nailing down what my core business is, what I can do the best. And I can do some of these other things maybe better than the average person, but they're not like my sweet spot. And so I end up taking like consulting gigs I probably shouldn't have taken. And I end up, you know, speaking— speaking opportunities that I could— I spoke on, it was okay. But like, those were all distractions from really helping me, that were keeping me from really driving home the main thing that I'm really good at with audience development with creators on YouTube. Another lesson that I learned as a new entrepreneur is number 3, and that is that I need to stay in control of my own schedule. It's overwhelming the amount of things that you could do with your day and your time. So one of the things I do, for example, is is I only schedule phone calls and meetings and consultations, anything that requires me talking with someone outside my family in a business context. Those conversations only happen on Thursdays and Fridays. Otherwise, my schedule just gets really fragmented and I end up with all these little blocks of time in between phone calls and meetings that I can't really be very productive in. So staying in control of my schedule, something I learned, is really important for me as a new entrepreneur. And number 4, kind of going along with that, is that I've learned that I also really need to keep the end goal in mind. One of the reasons why I work for myself is an entrepreneur, self-employed guy, is so I can have the flexibility and the freedom to spend with my family and with my kids that I want. What is the end goal? Why am I doing business in the first place? And make sure that we keep our sights on that so that we can say, you know what, I do have a lot I need to do today in my business, but today I'm just going to stop and I'm going to go spend time with my kids or my wife or, you know, whatever I'm saying is important to me. I am making sure that my business doesn't overtake and control my life. And number 5, I really think you have to do something that matters to people and to you. Because guys, you know, as entrepreneurs, like, working in a business that you are starting is just so much work and energy and time and commitment and tears and emotions and everything that are like invested into that, that like if you don't know and believe that what you're doing is actually making a difference in someone's life and that it's actually contributing, you know, to the world and to your family's economy and everything, like it is really hard to keep going. So definitely do something that you know matters. And if you are interested in changing lives through a tool like YouTube, I'd love for you guys to come over to my channel, YouTube.com/videoCreators. I think Evan Carmichael will put a link in the description below this video if you guys want to go check it out, where I'll train you guys how to use YouTube to do just something just like that.

Thanks, Tim, for all the great tips. For those of you watching, just to summarize, Tim's 5 tips for new entrepreneurs were: Number 1, don't undervalue yourself. Number 2, Don't get distracted. Number 3, control your schedule. Number 4, keep your end goal in mind. And number 5, do something that matters. And of course, believe. For those of you watching, I encourage you to go check out Tim's channel. Subscribe to this channel if you want to see more videos just like it. And I'd love to hear what your success tips are for new entrepreneurs. Leave a comment below so that, uh, other entrepreneurs can learn from your success as well. Thank you guys so much for watching. I'll see you soon.

Hi, Raquel English here with Mermaid Junkie TV. Are you on Evan Carmichael's newsletter subscription? If not, you should be. I read every single one, and you should too. Ciao!