In this editorial, we detail the views of Andrew Tate on how to start a business and get rich from nothing.
In his opinion, emotions rather than money is the biggest factor stopping most people from trying out their business ideas and getting extremely rich.
Read his take on the topic.
I will tell everyone right here, right now how to get rich.
I’m going to tell you how to get rich, but I guarantee that most people are not going to do it.
If you are a scientist, you never ever wake up, go into the lab, pour the right chemicals and fix the problem.
That doesn’t happen.
You go into the lab, you try something, it doesn’t work. You try something new, it doesn’t work, and you keep playing around until something kind of works.
Penicillin was a mold that grew by accident on top of an old experiment, and the dude goes, “what’s this mold? Oh, it’s penicillin”.
Before you know it, we have antibiotics.
So mistakes are expected, but eventually something goes well.
So, I say this to people. How many ways have you tried to earn money?
You earn money X way, how many other ways have you tried? You need to try a whole ton of ways and you’re going to make a bunch of mistakes like a scientist does to find something that works.
Everyone has heard this before right?
And then they’ll say they have two hurdles to doing that.
- They are lazy. Or
- They would say, “well, I have ideas but I don’t know how to start” or “I have ideas but I need money to start.”
How to Start a Business Without Money
You have to look at your business ideas and your plans and find a way to remove the need for money to attempt them.
So, my philosophy on business is this, any business in the world that could genuinely work, could genuinely work without investment.
People get this idea in their head, “I need loads of money”.
Every single business I’ve tried, I would find a way to launch it for effectively free.
And if it starts to make money, then maybe I’ll put money in.
Or maybe then, I’ll have some balance sheet, I could go to an investor and get money.
But everyone has this idea that they need money first. I’ll give you an example.
Let’s say off the top of my head, you want to try a makeup brand.
You are a woman and you want to try to build a makeup brand.
I’ve had people like this come to me and say, “Andrew, I want to start a makeup brand, I need 200k.”
“I need to get makeup, and I need to get labels, and I need to get packaging, and I’m going to get it all shipped in, then start selling, etc.”
That’s the wrong way to look at business.
Here’s how you start a makeup brand.
I’d say make a website, get some images of makeup, do your advertising or your marketing designs.
Put it on the internet without any makeup in stock and see if you can sell it.
Because if you start to sell, now you have money.
Now you can email each customer and say, “Sorry for the delay, there’s a shipping delay, we are going to give you a free lip gloss.”
And now that you have some money coming in, you can start to source for some makeup.
If you don’t sell anything, then the idea would have never worked in the first place, and you would have not wasted 200k on boxes of makeup.
You understand where I’m coming from.
This is a way to start a business without pouring money down the drain.
My Litmus Test For Evaluating Business Proposals
I receive loads of business proposals and deals every day.
My idea is, if you can’t start a business for free, then you don’t deserve any money anyway, because you are going to blow it.
You are trying to offload your responsibility on me as an investor.
You want a nice office, and to pay your personal bills, and then go to the office and feel like a big man with the investment.
See, everyone has this idea now because tech companies raise billions and have no profit forever. And then turn into a super billion trillion company like TikTok and the rest of the big techs.
That’s not the real world, you’re not going to invent some TikTok app. That’s one in a million. You have better chances of winning the lottery.
In reality, if you have a good idea that would make money, you can find a way to do it for free.
Especially with online business, I said this before. If you want to sell something online, do all the marketing you are going to do, get the website up and see how many you sell.
Worst case, you send the money back. But then you can come to me and say, “look, I sold 400 of these, I don’t have the money to get them made but I sold 400. If I had them made, I could have made this much profit.”
You come up to me with something instead of saying, ” I need a million dollars to get this thing made then I’m going to try and sell it.”
It’s the wrong way around.
So, once you understand that no matter the business, you can attempt to do it with hard work and no money, then you get to do what the scientist did.
“Oh, now I can try everything.”
And before you know it, something is going to stick and you will start making some money.
It’s really that simple and I say this to people all the time and they go, “yea, yea, yea” and then they go back to bed.
But that’s the reality. It’s very simple. If you can approach entrepreneurship from that perspective, then you’ll get to try a whole bunch of things and you don’t lose.
I say this to people all the time. If you don’t blow money, it’s very hard to eff up.
Ok, you start a company and you don’t blow your money, what’s the worst that can happen? You close?
Most people don’t want to face the risk of the failure and rejection and the emotions attached to it because they are weak.
But if you don’t give a shit and you are just all about the money, what’s the worst that can happen if you don’t blow money? Nothing bad can happen. Like literally, nothing bad can happen.
People just have this idea of, “oh, if I only had a 100k, I could do this and that.”
Listen, if you could do this idea of yours, you won’t need a 100k to do it.
I started CamGirls for nothing. If you speak with most people that started really successful businesses, they started with nothing.
Everyone now has this mentality from the tech industry that’s giving them this dream of seed investment garbage, where you operate at zero profit for eight years and then you’re going to make money.
The Second Way to Make Money
The second thing about making money is a very simple thing.
People don’t think about money.
When I was broke, all I thought about was money.
If I was in a coffee shop, I would sit in a coffee shop with my coffee, looking around all the other people in the coffee shop.
How many people are in here?
Who bought cake? What’s the average spend?
How much is the rent here?
Do they sell sandwiches? No, they don’t sell sandwiches. Why not?
Oh, most of the people here are men, business men.
Why is the waitress not attractive? Why is that?
If I was next door, would I make more money if I did this, this, and this?
How much would it cost to do that?
That was how my brain was. All I thought and thought about was money.
The only people I hung around with talked about money.
If I sit down with my friends, they’d be like, “how are you making money today?”
All I did was talk about money. I didn’t sit around and talk about something else.
I’ve attempted so many things, and the truth is, about half of them made me some money.
But when I discovered cam, I knew I discovered the golden egg.
But before that I tried so many different things. I always had a way to find money.
Relationship Between Being A Fighter And An Entrepreneur
Firstly, will and courage.
I have the will to fight, the will to experiment, the will to succeed and the will to fail and then keep going and going.
Another thing that fighting will teach you is that it’s kind of all or nothing.
So, my view of money always was, I either want to be a multimillionaire or I don’t want to work at all.
I’d rather have my freedom and train, and just be with girls on the beach in Thailand, and live off $20 a day so I could afford noodles.
I’d rather have that than work and be some middle income dude that goes to work everyday, sit on the motorway, pay my bills and don’t have much left.
It’s all or nothing for me.
It’s the same with fighting. You either win or you lose. I either want to have it all or I didn’t want to play the game.
I don’t want to be in the middle, and for that, I was always prepared to do sacrificial things.
I was always prepared to go crazy or try crazy ideas because I had to pull something off.
I get offers all the time. I got an offer in Oslo, “hey man, you could come and train people at our gym, and it’s $3k a month and you get a free apartment, you get to live in Norway, you get to hold pads and you can still train.”
I was like no no no. That’s still a job, I don’t want to hold pads for some dude, no.
I want freedom.
And freedom either comes from being completely broke or rich.