The Scariest Moments in Business as an Entrepreneur

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7 жыл бұрын

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Recently I was at Harvard Business School with 144 other entrepreneurs who run very successful businesses. We all had something in common. Everybody had a horror story.
If you have aspirations of being a successful entrepreneur yourself, you need to know that it’s guaranteed that you will face some scary moments in business. The good news is, you can overcome them.
So, I'm going to share with you a few of my scariest moments in business. Hopefully this will shed some light and you’ll realize you’re not alone.
#1: The "I Told You So" Nightmare - 1:14
#2: Delivering Bad News 2:51
#3: Running out of Money - 5:00
#4: Not Knowing the Language - 6:23
#5: Final Straw Negotiation - 8:17
#6: When a Big Client Changes Their Mind - 9:53
#7: When You Lose a Great Teammate 11:14
#8: Lawsuits - 11:40
#9: When an Investor Backs Out - 12:30
#10: When Your Partner Changes Their Mind - 12:51
#11: When Things Happen that You Can’t Control - 14:56
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Пікірлер: 266

@VALUETAINMENT 4 жыл бұрын

Share your thoughts with Patrick Bet-David by texting 310.340.1132 or click here my.community.com/patrickbetdavid

@servwell1245 3 жыл бұрын

Hope c further

@manny5581 11 ай бұрын

Q¹

@masudzamani749 5 жыл бұрын

This guy is talking ONE TAKE. no breaks no mistakes no nothing. He starts the cam. Does his thing. And turns the cam off 🤣💯 great video man!!

@synystervail9847 10 ай бұрын

Good point that takes some skills of execution I don't think very many people possess.

@BakedUp 7 жыл бұрын

You know what patrick? You build me. You build a business through me. You build a life. You build a dream. Thank you from the deepest corners from my heart. I will remember you when my pinnacle is staring at my face. And deep inside me, my heart will say "I owe Pat".

@VALUETAINMENT 7 жыл бұрын

That's the idea. It's messages like yours that influence me to keep making videos. 👍🏻

@Barbre_Gage 4 жыл бұрын

Wow Very nicely put

@arbeck007 4 жыл бұрын

Cant agree any more. Thank you PBD for all the unbelievable content. Arvindt here from Malaysia running a start up for the last 2 years. You have shaped my business. Deepest gratitude my man.

@HaysquareTheGreat 3 жыл бұрын

Feeling the same way

@kurtyvesmier3908 5 жыл бұрын

When I started building my business 7 years ago, I never told anyone. I down played all my cards when everyone asked what I was doing or what was keeping me busy because I know there would be a lot of people who would discourage me or who would say I would never made. So my advice would be to downplay your cards too and act as if your not trying to build something big to avoid all the people from discouraging you and just surprise them when you have already built something big.

@brickstunram9391 7 жыл бұрын

Absolutely needed this. I've literally had nightmares as well

@Prim3Pursuits 7 жыл бұрын

I agree this video was amazing such as the others.

@aandwdabest 7 жыл бұрын

There is actually a very interesting story about the founder of FedEx. He started business with all his money, but because of a series of issue he nearly ran out of money. And then, out of desperation, he raised his fund in a way that is unimaginable - gamble his remaining fund in the Casino of Las Vegas. And he won.

@yehudahamaccabi9420 7 жыл бұрын

You are very correct!

@manictiger 5 жыл бұрын

That's awesome and definitely lucky. However, knowing what I know about probabilities, I don't recommend anyone try this. In the stock market, it's all skill-based. You can truly jack up the odds just by... well, doing what I do, trading, timing, being smart. But with the casino, the odds are set. No amount of skill is going to alter those odds (except for in black jack, which will get you kicked out).

@Immilounge 7 жыл бұрын

These videos keep me going for real. Never have I ever watched videos from someone talking about the real things that happen in business that we all as entrepreneurs face. Usually its just some wack motivational speeches from others but pat keeps it real. I have had many of these scary moments and pat you were spot on.

@yanja640 7 жыл бұрын

Congrats Patrick!!You teach us first hand that courage and hard work can beat everything and we need a reminder from time to time.

@bbkrz7553 7 жыл бұрын

Pat, I workout in an empty gym every morning and your voice is the only sound that comes out of the speakers! Thank you for sharing your experiences.

@davidsituma1660 7 жыл бұрын

Most of that actually happened to me and I ended up loosing my business ontop of that getting a divorce. but you can't stay down and regret.so am starting over but now with your help am getting all the help I need to do better. its good to know this things happen.

@robertsullivan9232 3 жыл бұрын

Only place you can go from here is up

@LaDeeDah 3 жыл бұрын

I love these kinds of videos! Thank you.

@bmejia220 Жыл бұрын

Great video Pat. Content like this is essential for guys and girls starting out. This is why you're one of the greats. I appreciate!

@sweeetchocolate100 7 жыл бұрын

Thank you so much for this video, it shows a lot more to entrepreneurship than just the money and cars.

@mronzio63 4 жыл бұрын

Patrick, no one can replace my connection to source, but your content is like my church. I study and listen to your videos at least 6 hours a day. You have taken the place of music, and the impact had been amazing. No one is making content like you, and from the bottom of my heart, thank you!

@sillyb123 2 жыл бұрын

Thank you. Wow inspiration. Down to your last and have to make it happen. REAL PRESSURE

@oof8850 7 жыл бұрын

Thank you so much for including subtitles. It makes me concentrate much more on the video

@mikejones7510 7 жыл бұрын

Hey pat I feel like when I watch your videos all of it applies to me and inspires me to work hard. Thanks.

@xxanillusionxx 6 жыл бұрын

Love all your videos, hope you continue to make such amazing content, Patrick this is stuff is gold.

@sonaliramaiya1549 7 жыл бұрын

I'm going through exactly one of the situations mentioned here.. and those nightmares have haunted me.. I can't tell you how much this video is helping me right now.. I'm gonna stay strong and watch every single video of yours! N I'm gonna ensure that I get at least 10 more subscriptions to this channel.. That may be a drop in the ocean, but I guess it's the best way in which I can thank you and also help my friends, colleagues and peers think big and grow.

@abcde12345edcba 6 жыл бұрын

The best prewarnings/predictions/precautions I believe I have ever heard. Thank you for sharing your experiences.

@khemosabe999 3 жыл бұрын

Amen. Thanks for sharing and encouraging me to continue.

@davem39 3 жыл бұрын

I’m retired and still watch you! I love motivators and being motivated! And you inspire me to continue to motivate my kids when I watch your videos!

@meshal-ksa4369 7 жыл бұрын

l love this video, this is my favourit video, Because we only hear success stories witch makes people see Business very esay, witch is not, and you just solve a problem. you give us more self-awareness about Business, wich I love it.

@correacrawford6283 7 жыл бұрын

right now, having a scare moment, passing decided to open a new branch.. Thank you for your advise, you are the best!!

@erikasandico3545 7 жыл бұрын

Thank you so much for this video, Mr. Pat. I am just 23 years old and I have experienced almost half of the situations you covered on this video and it has not made me sleep for about a week and two. I lost to quite a number of biddings and some clients who I met for the past few weeks decided to back out on me days and a week later. It was terrible but I found a way out of it just yesterday. Being an entrepreneur is no easy feat but if navigated through well can bring one of the best fulfilling paths ever pursued.

@legendarygamingchannel805 7 жыл бұрын

what do you own and why did you start and how much money did you have to start with

@christopherarmstrong2710 4 жыл бұрын

“We just crossed 100k subs.” Well beyond that mark, now! Way to go!

@willoh17 6 жыл бұрын

I love your video Patrick! I watch 1 or 2 every day! You give me so much value and I learn a ton...you're like my virtual mentor. Please keep coming out with great content! I'm growing a new business and you keep me driven to succeed...thank you!

@BredouAlbanBrice 7 жыл бұрын

The Scariest Moments in Business as an Entrepreneur Key Takeaways: 1.Hearing others said "I told you so" 2.Receiving bad news 3.Running out of money 4.Not knowing everything about the business 5.Not ending well final straw of negotiation 6.Big customers changing their mind 7.Big players in your company leaving 8.Managing law suit 9.Investors pulling out 10.Partners changing their mind 11.Managing uncontrolled events For most of these scariest moments, there is a way out.

@Aniketkumar-je8io 5 жыл бұрын

thank you

@fuyeye2540 7 жыл бұрын

#10 hit it on the nail for me. Sorting everything out right now since my partner changed her mind. Initially, i felt like this past year has been a waste structuring everything for a partnership. Now I've learnt. Partnerships are good but rely only on yourself.

@THELIFEOFPRICE 7 жыл бұрын

Another great video man, funny you said next goal is a quarter million.. thats my same goal lol only 7k away!

@bs9531 3 жыл бұрын

Yep, this needs to be taught in high school for seniors and in colleges (every year for repetition!). Fantastic recap of failures that can be conquered!

@secondfallingsound 7 жыл бұрын

that was a really inspiring video Pat! thanks so making this vids and sharing your knowledge. Its awesome

@alappattjerish 7 жыл бұрын

I am 29 years old from Germany. Almost everything you described in this video have happened to my start up. Watching your videos plays a great role in still keeping my hopes and thought process ON and working further in the speed that my current circumstances allows to. i realise that i am not alone. I thank you very much for your support and guidance. You are doing a great great work. If someday i can do a favour to you back, i will be proud to do so. J. George. Berlin.

@VALUETAINMENT 7 жыл бұрын

+Jerish Alappatt I love my German Entrepreneurs. Help us get the channel to a million subs.

@pm7775 7 жыл бұрын

Best video you've made, im in awe watching this vlog and everything around me has stopped. Thanks for this. Paulo,

@VALUETAINMENT 7 жыл бұрын

+Paulo Mendes Thanks. WHy do you say it's the best video?

@nathandunn5076 5 жыл бұрын

I love the honest, straight to the point content

@hidura 7 жыл бұрын

Thanks Patrick, for this video!!!!! I am in one of those nightmare stories. And I really appreciate the video and the help!

@agoddessrising9704 6 жыл бұрын

Pat -- I loved the intention of this video but I was surprised that you kept sharing the problem w/o sharing what you personally did to resolve it. I think this video would def be even way MORE powerful if you were able to discuss what you did to make it through. That stated, I so appreciate the energy you put into these videos + the great quality found throughout so many. Many continued blessings to you! Thank you for sharing a bit of your story. x

@amd1218 3 жыл бұрын

Right on time. God bless!

@benjaminholmes2412 3 жыл бұрын

What your talking about is going to happen to me, great Vid, I get energy off this

@thuta2896 Жыл бұрын

man i love these old PBD videos compared to the new ones. Just straight to the point

@Seth-xi7ox 7 жыл бұрын

Awesome video!! As soon as you said The I Told You SO Nightmares, I smiled a little out of comfort because I think I'm going through it and it gave me comfort to know that its common and I can overcome it.

@VALUETAINMENT 7 жыл бұрын

+Flame VII Hang in there and go WIN BIG.

@seanaslany2226 2 жыл бұрын

Wow, before I watch this video I have made so many difficult decisions to have my business running. And watching this just gave me a sign that I’m on the right path Pat... let’s go

@joseph_n 7 жыл бұрын

I needed this video today. Thank you so much

@MrSupervillin 4 жыл бұрын

You are the GREATEST hands down thanks 🙏 for these videos I eat them for breakfast 🍳 lunch 🥗 and dinner 🍽 thanks again.

@gteamer 7 жыл бұрын

Valuetainment has become a staple of my diet. Thank you for this content. I really appreciate everything that you do. I would love to see some more interviews of entrepreneurs who maybe aren't as far along as you are, and what struggles and success they are having. Really get into the details, that is what you do best! This is one of the few channels related to entrepreneurship that isn't just vague overarching platitudes.

@VALUETAINMENT 7 жыл бұрын

+gteamer Glad to hear that and Thank you for the feedback. We have many interviews and NEW projects that we'll be launching soon.

@MarisaHarpermh1392 7 жыл бұрын

This is so encouraging. I've had several of these so far and still sticking with it.

@VALUETAINMENT 7 жыл бұрын

+Marisa Harper Hang In there but just keep in mind that it'll take your best effort to win as an Entrepreneur.

@kcampbell2200 3 жыл бұрын

Lessons learned: life goes on! Love this Patrick!

@evanmurn 7 жыл бұрын

Great video! Thank you for sharing the good, the bad and ugly in your videos. When these things come up, we'll remember they're normal and keep moving forward.

@11Asib 7 жыл бұрын

evanmurn

@Prim3Pursuits 7 жыл бұрын

agree

@BakedUp 7 жыл бұрын

evanmurn word.

@elegantviewslawn2574 5 жыл бұрын

Im experiencing all of the thing that Patrick are talking about right now this year in my business.....if you are a person that's looking for some fear factor because nothing scare you, try entrepreneur, if it doesnt want to make you commit or thought about suicide then i envy you for having such a strong mind set...or just extreme luck.

@TheThabojackson 7 жыл бұрын

Thank you for this video.

@rkane19 4 жыл бұрын

I’m experiencing these scary situations for the first time the last few weeks. I think I had a mini panic attack last night. This video really helped. Thank you.

@bmejia220 Жыл бұрын

All the best!

@katabrafiq3192 7 жыл бұрын

Best channel on youtube by far!

@luthandobryan1260 2 жыл бұрын

Awesome!

@Eyramax 7 жыл бұрын

Great piece. God bless you for sharing and building Entrepreneur empire globally

@ebutuoy485 5 жыл бұрын

Excellent video. Saves lives

@Stephen8454 5 жыл бұрын

Very sobering and man thank you for this one. When I am stressed literally every day I keep thinking maybe I am just not doing this correctly. Maybe I don't do anything correctly. Nah, its business, lol

@SuStudio36 3 жыл бұрын

I've became addicted to you man :D we should try to promote your channel instead of drugs looool thank you very much, it's 2020 and I'm enjoying your videos even from 2015 ! all respect man !

@OvernightCoder 7 жыл бұрын

This is a really awesome video ~ this is just the straight up truth about starting a new business.. But it only takes one good idea to be successful out of many failures!

@sinisasiledra2202 7 жыл бұрын

Great video Patrick! Can you make one about your experience when running out of money and doing everything to save company? Thank you

@10xceo59 2 жыл бұрын

Great content 👌🏻 💯🚀

@thebryanaustinshow8485 6 жыл бұрын

Thank you Patrick

@princeshah6444 7 жыл бұрын

I love you pat!

@charlesstokes1967 7 жыл бұрын

One of your best

@leultaddesse2033 3 жыл бұрын

This is gold

@oliverv94 7 жыл бұрын

you're such a great teacher!! been following your stuff for a few months. always leave with some value. thank you for all that you do.

@VALUETAINMENT 7 жыл бұрын

+oliverv94 You got it. Thanks for the love.

@oliverv94 7 жыл бұрын

VALUETAINMENT you actually reply too.. so I have a conflict. I was just extended a job offer for a major corporation and it would increase my pay by double. But I feel like I have more of an impact in the current small business I work at and I believe I can scale the business to greater heights. should I forego the instant gratification of an increase in pay if I believe I can build something with this small company.

@thesuitmakesmefeelfancy3375 6 жыл бұрын

Thanks for the insight now I know that in the first 2 year or so will be tough but that when I make it though great things will start.

@talentsherpa 3 жыл бұрын

I loved this. Please tell us in detail how you turned things around, what was your self talk?

@marleyonaire 7 жыл бұрын

i love your "action taking" attitude Pat.

@Peteristrate 7 жыл бұрын

Pat, not sure what you did or what is it when you speak, or if it was just me a bit too emotional..., but I dropped a tear and got goosebumps listening to you on this episode... especially when you talked about the "I told you so" and when you had to pay your people at the end of the month even though you had $0.00 in your bank account given that you'll go out of business next week if you don't power-through. And I've only cried once in the past 5 years so far. I know I should've not said this in this here, but you really empathised with me and many others like me, I'm sure, so I thought you deserve to know the power of the message you're delivering out to people. The burden so many entrepreneurs face every night is overwhelming many times. I've got thick skin now, but I know, just as you mentioned, there will be hard times, and the newcomers have to be prepared for them. It is those times of adversity that allow us to grow as individuals.

@jackglore4043 7 жыл бұрын

i came from syria 2011 with nothing started and lost 3 business because of wrong partners i choose i didn't know lots of ppl and never started a business before and like you said its the best thing that ever happened to me i just love taking calculated risk now i just love listening to you you r a great persian businessman that look syrian lol

@cianfox6163 7 жыл бұрын

Love the Halloween theme Pat , Great video as per usual!

@ricarkad7373 7 жыл бұрын

My favorite Valuetainment vid!

@ericknieto2176 3 жыл бұрын

100k subscribers. Going on 3 mil now. Good job.

@dinomahic9588 5 жыл бұрын

Hi Pat, could you please make an episode just on that October of 2010?! Running out of money, what did you do? Do you offer equity, do you go promising paying more later? What do you do? Thanks a lot!

@tirahuks1 7 жыл бұрын

currently going through an investor changing their mind, Partner pulling out and we're running out of money. We still have our edge though and we know something good will come of this. Thanks for the encouragement!!

@conqueeftadorjones8234 7 жыл бұрын

Great Video Pat! :)

@kerodetravel8121 7 жыл бұрын

you right definetly!! i belive i will pass this all obstacles!..i am on the state what u are saying now

@jorgealfredonavarrocolin9444 7 жыл бұрын

this is gold, this is very important for who start a bussiness. i have had learn to speak english for this videos, for this information. in méxico is very few information about this. thank patrick. Jorge Colín.

@VALUETAINMENT 7 жыл бұрын

+jorge alfredo navarro colin You got it Jorge.

@romeo5295 6 жыл бұрын

You scared the shit out of eme if we're being honest.. But it's something we all needed to hear. Thank you

@glenbhimani2302 5 жыл бұрын

Patrick, i had several o'shit moments when i first started we ran out ouf cash twice. First time we reorganized and found more money keeping the business open, the second time we changed or business model and we were able to reduce expenses qnd improve profit margins. Now we embrace the o'shit moments because it allows us to improve the business.

@velly88 7 жыл бұрын

Thanks for sharing your stories Pat. I'm leaving my good job with AWS soon to go on my own and I'm shitting my pants everyday. but getting comfortable with the idea that IT WILL HAPPEN makes me feel a tad bit more confident.

@samon_kurowassan 4 жыл бұрын

I Told You So Nightmare, this! This is what I'm going through right now. :) "Nobody believes in you, you never run a business before." So so true.

@Logical_Motivation 7 жыл бұрын

Wow great! Love it

@Malloyrjm 7 жыл бұрын

Motivation & Success

@TheGrinningSkull 7 жыл бұрын

Nice vid as always, but definitely missing the bell followed by the "Booom" this time around!

@marcorenteria5245 6 жыл бұрын

I'm currently going through a few of these moments.. This helps out..

@maggetnjai7385 6 жыл бұрын

You are talking to me right now.so knowing that am not alone really helps

@ntokozohlatshwayo1836 3 жыл бұрын

I needed this video as I'm currently going through the same thing as we speak. All my pension is exhausted, major contributor is cancellation of our contracts due to lockdown. 4 months in arrears on my rent, service providers and business insurances 🙏 it's a scary moment. We have implemented a pivot strategy to defy the odds, not easy but it's a process.

@tejaspatil1038 6 жыл бұрын

I love Pat's face expressions in the thumbnail for this video.

@GreatAkudo 7 жыл бұрын

Dang... This man is AWESOME!!! Stories sell.

@patricialim6816 6 жыл бұрын

Developing your startup idea and putting it out there for the first few times is pretty scary too. You always get the "Maybe it makes no sense" or "Yes, go for it!" mental debate.

@broke2bluecollar 7 жыл бұрын

Its necessarily about what you know , A lot of it is who ya know!

@TheAutoGenie 6 жыл бұрын

This episode was EXPLOSIVE! It drives the mindset you need to truly become a #realentrepeneur great REAL STORY feedback of PBD experience. Very uplifting to those of us shoving all our chips to the middle of the table!

@VALUETAINMENT 6 жыл бұрын

+drivenbymindset 🙏

@Dogmaticrock 7 жыл бұрын

I think a important part of business, and I think you'll agree with me on this one Pat, is sometimes you're going to burn bridges. Sometimes you will create enemies, hurt someone's feelings on a personal level, flip the bird at some venture capitalists, but hey, its just business. I think its a general consensus sometimes you have to act like an asshole toward others.

@VALUETAINMENT 7 жыл бұрын

+Derik S. Sometimes.....

@LordDecimus 7 жыл бұрын

Hey Pat, Just had to watch this video.. I am literally exactly at the third point in the video. Literally. I only have so much left. Right before Christmas, I was in panic at that moment and I'm still trying to figure out what to do coming month with all due dates approaching. At this point, the "I told you so" moment seem so inevitable and I can't even sleep or eat just thinking about delivering the bad news to different parties. Sickening moments that I wouldn't wish to any business person at any age really. Definitely not starting the year off on good terms but I am hanging in there...

@olpvirtusolp3962 7 жыл бұрын

The more I listen to you, the more you amaze me. #carlady I guess I'm not the only one who has had great come backs.

@danijeldomjanovic8131 7 жыл бұрын

These stories are terrible, man. You can really lose it all if luck isn't on your side. Thanks for sharing Pat, Business isn't just sunshine and rainbows.

@VALUETAINMENT 7 жыл бұрын

+Danijel Domjanovic They're not but neither is living. Life will throw you many curveballs and things can go sour if you don't prepare yourself both mentally and emotionally.

@marleyonaire 7 жыл бұрын

Bad news depends on perspective... reality is reality we must move on

@yvonneruvinski8065 7 жыл бұрын

"Let me tell you something you already know. The world ain't all sunshine and rainbows. It is a very mean and nasty place and it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain't how hard you hit; it's about how hard you can get hit, and keep moving forward. How much you can take, and keep moving forward. That's how winning is done. Now, if you know what you're worth, then go out and get what you're worth. But you gotta be willing and take the hit, and not pointing fingers saying you ain't where you are because of him, or her, or anybody. Cowards do that and that ain't you. You're better than that! " -Rocky Balboa