In order to succeed with business you need focus, perseverance, stubbornness, and the ability to work hard, learn, and change... and combining all of this with enough money could make even a lousy idea a huge success. Money gives you the ability to do things otherwise unimaginable.
Working hard is often required, but it is not a magic formula for success. There are many people out there who busted their balls working on their ideas, and they have not succeeded, just because they could not secure money. After a while, they found out that someone else with powerful friends took exactly the same approach and got rich.
Remember that “Flappy Bird” game?
Just one guy made money. Before him, at least 100 people tried the same game play approach, and nothing happened. He got lucky. Or, maybe, someone help him a bit to get there.
I remember watching an old clip where Elon said, “Raising $50 million is just a matter of making a series of phone calls, and the money is there.”
Hearing “raising money is just a series of calls” is laughable. I wish it was that easy. Maybe it is for rich people with connections, but not for ordinary people that have only ideas. Rich people hang out with other rich people, and it is not easy to get in that circle, although there are ways.
The other option is crowd funding, but getting crowd funding often is very unrealistic, especially for the ideas that need large funding, and it’s even harder when no one has heard anything about you before. The number of unsuccessfully-funded projects is quite high. Google about it, and, if you do not believe those stories, try to do your own project.
Many people have tried to crowd fund their projects in a different stage of development, and they failed. Also, it is worth asking why many crowd-funding platforms do not have a “Funding Unsuccessful” category, where you could browse all failed projects?
Maybe, if people would just know how many projects failed, especially those that were carefully prepared, more people would get discouraged and stop using the platform. In some way, for Kikstarter-like platforms, to do so is a good business strategy: they encourage creators to create more, basically feeding on creators’ emotions of hope.
Do not forget to get to the stage of asking for funds! Creators need to invest a significant amount of money and time. Most of us have spare time to squeeze, but, when you do not have money, well, it will be hard.
So, why does no no one talk about it?
Because, in some way, we are caught in a positivity bubble. It is forbidden to speak about reality, as it may come as negativity. That lack of feedback about the nature of things as they really are creates an unrealistic picture that it will be quite easy, if you just do this or that.
Frequently, you will hear billionaires saying, “You have to create a really good product or service.” Listening these words man gets an urge to punch them in their smug faces.
How on earth can I create a really good product without money, at the same time competing with multibillion-dollar companies with teams of hundreds or thousands of people?
Basically, it is like saying, “No, no laddie, do not worry that you do not have shoes. Just go on that running track full of spikes and nails. Let’s not forgot to carry that bag of cement on your shoulders. As soon as you win the 100m race against... Bugatti Veyron... we will give you all the money you need.”
Seriously rich guys, WTF?! You have to stop repeating those things like they are some kind of new-age mantras.
No, I am not saying it is impossible to succeed, but, without money, it just one big Catch-22.
Without resources, you will somehow need to find a lot of people that trust you or are willing to give their time and skills for “free” (read: willing to work without salary just for a share of the company, but remember — 100% of zero is still zero).
If you are maker, yes, it is possible to succeed, but you will need many skills: social, technical, and many others. It is almost like society expects you to be superhuman, and do not forget — you will need a touch of lady luck (Do not ask me. I do not have her number).
Above all, prepare to suffer. Eventually, you will need to learn how to handle this huge amount of frustration created by the way things currently work.
Will all of that be worth your troubles?
Well, despite many saying it is hugely rewarding, when you eventually get there, it really depends on you.
Also, considering a few following advices from Alan Watts could come handy.
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