Flip Tip Summary
Fear of the unknown paralyzes many would be entrepreneurs. Brenton Hayden, Chairman of Renters Warehouse (‘retired at age 29) shares this FlipNerd.com VIP Flip Tip on just jumping in…and getting started as an entrepreneur. Don’t miss it!
Flip Tip Transcript:
Mike: Hey, it’s Mike Hambright from FlipNerd.com and we have a quick VIP Flip Tip to share with you from Brenton Hayden who’s the chairman of Renters Warehouse. We’re going to talk about entrepreneurship and how to get started as an entrepreneur.
Brenton: I think the first thing you need to do with my business tip for everybody is to get started. To go, get going. And the way that I look at it is a lot like a hotdog stand. If you are thinking about getting into business and your business is a hotdog stand, you can start with your minimal viable product. Go get a cart and a damn good hotdog and bun, and you can go to business. Go to work.
You’ve got a core product, sell the most hotdogs you can. And you don’t need to have the whole business plan worked out. You don’t have to have the menu and pricing things figured out. You don’t even have to have soda or ketchup or mustard yet. Just sell the best damn hotdog out there and sell as much as you can and things will diversify for you.
But what I have learned is, that people are, whether it’s the school system, government, the way that they were raised whatnot, are not taught to be entrepreneurial. That’s changing now, but if you’re okay with a salary then this, this opportunity you’re going being an entrepreneur isn’t, and you need a salary to stay stable, then you shouldn’t do it.
But if you really want more for yourself, you want to retire early, you want to create wealth and you got a great idea, you need to go and get started. Because you just need to get started.
I started Renters Warehouse just being my own leasing agent for other investors. You can start with just a hotdog stand. You don’t need to have the perfect plan. You’re going to need a lot less money than you ever thought. Just go and get started, but you need two things, gumption and execution. If you believe that you can execute your idea and put the hours in, then you need to go and get started.
Mike: Thank you for joining us for another FlipNerd Flip Tip.
We’d like to thank our sponsors, RealtyMogul.com and National Real Estate Insurance Group.
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Mike: Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.