How Many Hours A Week Do Entrepreneurs Work

How many hours a week do entrepreneurs work? You're going to be shocked at the number of how many people ditch a 40 hour, nine to five, to go rock and roll for twice, if not three times the hours. So don't let that race you away from this video. Stay tuned. I'm going to tell you by the end why it's the only way you should live. In this video, I'm not only going to share how many hours do you work, but how much money can you make? There's nothing better than the entrepreneurial dream. Everybody says the American dream. Well, I know entrepreneurs all over the country. Number three, we're going to say, how do you know if you are one? Do you have it in you? And number four, how does the young budding entrepreneur compete with the older entrepreneur? You're going to be shocked at my answers. You got a pen and paper and you've got to do this. Like you've got to learn to make some money. So it has been the theme of my life about making money. I've been an entrepreneur. My first little business, I don't even know. I grew up with a farmer and a caterer. So I grew up in a very entrepreneurial family. Did we call ourselves entrepreneurs? No, we were like hardworking Midwest Nebraska farmers and my mom had a catering business to supplement income. So that was all interesting, but the titles were never there. The titles weren't there like, let's go be an entrepreneur. And then sexy little business colleges started saying, we teach entrepreneurialism. It's fascinating. They're not taught by entrepreneurs. So where do entrepreneurs get born and bred? Right here, right on YouTube with me on this channel, five days a week, subscribe, hit the notification button. I learned from other entrepreneurs very similarly. It's what created and amplified the mentoring coaching space. There's a lot of amazing experts out there that you can learn from. So let's talk about how many hours you're going to work. Well, is that really why you're going to do it? I think that is just, I mean, the fact that that's a big search term is interesting. Like you're going to run your life based on that rule. Aren't you just going to do what it takes? See, I've never had like a personal life and a professional life. Now I had a job for like a little minute over at Chevron, a minute meant a few years. And, uh, I learned immediately that they, they kept, I mean, they were taught like you need work-life balance. And I'm thinking that whole thing just never made sense to me. Why don't you just have a life, right? You have a personal life, you have a professional life, it all kind of blends. You just have a life. And that way, when you actually live as a true entrepreneur, you can take your kids on business trips. You actually, everything you do, everything I do is through my businesses, right? You live, breathe and work it. Now that is it to scare you off to say, oh my gosh, that's too many hours. When you actually know how to build teams and systems, you actually get a hell of a lot of freedom, a lot of freedom. You get to control it. You could have great teams. You get to decide where and when you want to work the pandemic, just, you know, spread that out even more. So entrepreneurialism, I think has always been the answer. How much do you work is up to you. How much do you want your teams and systems to work is up to you. So I'll design that for you. I have a whole team. I've committed my life to it. I'll guarantee you six figures of extra income. If you let me help you and do everything I say, and that's not just some casual guarantee out here on YouTube, because I'm saying, I've been doing that for over a decade and it's not difficult. It's different to write those words down. It's not difficult, it's different. How you're going to make money is different than you've ever done. See, college and school and university, my son just graduated with the two bachelors, accounting and finance. He'll still to this day say, this stuff that I teach and the way that I teach it from an entrepreneurial standpoint is not what you're taught. Well, let's be honest, you went to university because he's going to be a CPA and he's going to go on and get a master's in accounting, not taught this. So who teaches entrepreneurial skills? We'll get to that towards the end of the video. So stay tuned. There's three skills you must master to be an amazing entrepreneur. So again, the hours are up to you. And I don't really believe in that work-life balance. I think you just decide you get to have it all and whatever have it all means to you, you design your life that way and I will help you. As far as how much money you can make, boy, that is endless. And what I love always about an entrepreneur versus an employee, most employees have a fixed income. So how are you going to create this unlimited amount of wealth and become a millionaire when you have a $40,000 salary every year? That's a long walk, long walk to even having enough money. Plus that's the worst kind of money to make because you're taxed the most on it. So there's an American study, American Express Open did a study that most average entrepreneurs are paying themselves a salary of 68,000. That doesn't mean the company is making that much money as the salary. I would say that's too much salary. Why do you pay yourself that much money? It's the worst kind of money. And at $68,000 a year as an employee of your company, you're paying 40, 50% on that kind of money versus make the money in your company, pay yourself a tiny little salary and your kids a tiny little salary, make the rest inside your company and take 81,000 pages of tax deductions against it. I have to pause right there before I continue to tell you about money because I go on and on and on for probably a hundred hours on this topic on why have an entity, 81,000 pages of tax code, what you can deduct. So go to my search bar and type in and just binge watch this whole entrepreneurial training that I've been doing day by day. While you're there, subscribe. I'm here 10, 15 minutes a day. And I want to teach you business. I want to teach you money. And for those of you who want the mindset of money, I was in the secret. So subscribe, click the notification button. More importantly, once you do that, watch it every day. And I'm going to start an Ask Laurel membership where I'm going to be asking you some quiz questions and make sure you're watching. And if you watch during the week, you'll get, might get some rewards because I want you financially literate and business literate back to money. That's up to you. So there are entrepreneurs who sell products and services. There's entrepreneurs who just sell services, just sell products. It's the combination is where you're going to have the richest experience. When you have a combination and you say, well, I don't have a product. Well, you can be an affiliate of any of the products that you sell, right? I'm in, I've been doing construction and real estate for a very long time. We get paid for the service of the construction or the rehab or whatever we're doing, but we are an affiliate or distributor of the actual products we use to build, right? We're going to do the same thing in the cannabis space. We do things, same thing with most businesses. So you actually get paid by the very products you use. There's so many ways to make money. Multiple streams of income has been highly misunderstood. Multiple streams is in the investing diversified part of your portfolio. It's not on the business side. On the business side, your diversification and multiple streams is in one category. So my category is money. So I can get paid in all sorts of categories around money, right? So I'm like, I can offer you an entity. I can offer you a trust. I mean, I can offer you education. I can offer you books. I can offer you a game. There's so many ways to create those streams of income and be an affiliate of a whole bunch of other things that can pay you as well. So how much money you make is up to you. If I was you and I'm going to decide, and I'm an employee right now, and you're sitting out there listening to say, do I jump? And do I be an entrepreneur? Absolutely. You need an LLC, an entity in principle, if you're watching this from other parts of the world, you need a company to make the money. So you get all the deductions and that offsets the high taxes that is paid on, that is taken against your high income. So yes, you need something, even if it's a little side hustle, either way, I've got a bunch of those videos. And then let's get to the truth, right? Do you have it in you to be an entrepreneur? Well, how much do you want to hustle and how much are you passionate or mission driven about the thing you're doing? Like from 96 to about 2000, I was a master distributor of the cashflow game. So I spent those years learning how to be an entrepreneur, right? And there's three skills I'm going to still share with you at the end of the video that you have to have to be a great entrepreneur. So I spent time under someone else's great entrepreneurial umbrella to learn it, understand business, understand the flow, understand inventory, controls, margins, all of those things. I didn't learn it at school and I have a business finance degree. You don't learn those things from the place of, you have to generate it. You learn it from, I have to go be employee and look at somebody else's books that you're unattached to. So do you be an entrepreneur? Absolutely. Do you have it in you? You're going to need a team. You're going to need some skills. So I share that story about the rich dad, poor dad group, because I didn't just start with my own stuff. I started selling other people's stuff. So there's so many ways you can be an entrepreneur to make money. But if you're not going to get committed to make at least six figures, you and I need to have a little chat because it is a lot of activity. I'm not going to get a lot of work, like from a negative standpoint, it's more than most people tell you. So let's get to those three skills. You're going to have to learn to market, which means you're going to have to promote your product. You're going to be on the social channels. You're going to need to probably, you know, potentially a Shopify or some sort of store to sell products through. You're going to need to then sell, right? So you're going to need to market to get a lead. You're going to need to sell to create the cashflow. And then you've got to manage cashflow. Those are three top skills. And I don't care what university you go to until you put those into practice and your life and your family depend on it. Nothing will drive you more for a lead sales and cashflow. Those are your drivers to get you up in the day because you aren't going to get a little paycheck. Now, all that being said, back to my original comment, I do want to reinforce you do want to be an employee of your company, but a tiny little salary of it. So how many hours up to you? I'm going to go the other side. I just want to combat that and say, you know, what I see why businesses fail, because there is this big statistic, 90% of small business fail, you know, trying to scare you. They fail because they don't do work. They actually just, they live in title. I don't know how many coaches live in title or they wrote a little book or they have one product. And I said, well, that's a question I ask all my entrepreneurs. How many hours are you open for business during the day? Especially if you're working at home, because you're doing laundry, you've got groceries, you're having, you know, chat and coffee with the neighbor, you're hanging out, you're just sitting on social media, but not marketing and selling. You're just chatting. So how many hours are you open for business? I mean, would it really, really irritate you if you went to your favorite pizza shop or your favorite coffee shop and they weren't open because at 10 o'clock they just decided it was a great day and they're going to the beach. I mean, a lot of you, the problem isn't, the problem with entrepreneurs failing isn't you and the thing you offer. It's more your work ethic and your lack of hours and your lack of commitment to serve another human. I do this because I love teaching you money in business. And I will do it like Bob Proctor talked to the day he walked off the planet. I will do this. I love this. So you got to have something that you like, you're committed to. The gold in this model of how much you get paid is your team and your systems. You cannot do this alone. Staying a sole proprietor and staying a solopreneur is suffering. So why begin if you're going to do it all by yourself? You don't have the skills and the breadth to do it yourself. Those are the people that fail because you're exhausted after six months because you're figuring out your website, figuring out social media, figuring out your store, figuring out accounting. By the time you're even tired and then you can't even talk to your lead and actually make them a sale and you don't have like, there's just all sorts of problems. The best entrepreneurs go fast. They hire fast. They get systems fast. They get support fast. Now in saying that, I know a lot of you say, oh, I have to have money to start. No, you don't. You sell some services, right? When I started, I started selling $5,000 coaching packages, right? People would follow me around all over the country when I was buying real estate in 29 markets. And we meet in a market. I show them what to do all day. They meet me back in other markets. We show them what to do all day. And I just earned my way to success through real estate investing and training. And I did that in the early 2000s, was a real estate millionaire in 1999. I started from scratch. I love bootstrapping and you can get some funding. I can help you get funding. There's all sorts of ways to do it. So I don't think hours is a decision point. I don't think that how much you're going to get paid like an hourly rate's weird. Don't do that. Go for seven figures. Say, I'm going to get up and I'm going to go make a million dollars. That's only $83,333 a month. All right. You can drop off a three and drop off a zero and go for a hundred thousand. A hundred thousand still puts you in the top 3% of earners in the United States and proportionally it's the same all over the world. So I don't think hours or money are the deal. Do you have it in you? I think anybody can get that muscle to do it. And you have to want it and you have to be willing to be led and mentored. And I love to mentor you for your first six figures. Easy. I've done it for over a decade. Do exactly what I say. And guess what? If you kind of get into it a little bit and you say, boy, this is just too much, then start stacking yourself up a team, right? Get some partners, get partners that are stronger at things you're not strong at. You can all do this. But living just as an employee your whole life and working for someone else your whole life, do both, do both, but at least do something for yourself and your family. And if you want all that extra income, what I love about the employees who love to be employees, I got a lot of great engineers, firefighters, cops. I got all sorts of great employees. And the reason they do their side businesses for the tax benefits, for their family benefits, for the business trips and all that money is their investable money and they get there faster. So do both. So on my last point, again, I just want to reinforce marketing, sales and cashflow are things you need. Now, if you're looking and saying, well, I'm super young and what does a new buddy entrepreneur have in comparison to somebody that's older? Let me read just a quick little list of things that I think any entrepreneur needs to do. The number one obvious thing about young entrepreneurs is they're more technical, proportionally for sure. So you got to identify the gap in the market. I just get a little pen and paper. I'm going to write down a couple of things. Identify the gap. Again, where's the problem in the market? Really understand what your listeners wanting, not what you want to push at them. It's a huge mistake. Never underestimate the power of a solid business plan. I have a whole system to do a plan in four hours, road test, focus, pre-sell your idea, embrace input. You have to hear from other people, get a mentor, get a strong network and get your funds in order. If not just make them from scratch. And again, part of making them from scratch is that pre-order process. So here's what I want you to do right now. I just gave you a ton of content. I want you to come to my marketplace. I do what's called the millionaire intensive in a marketplace. I do it every three weeks. You're going to learn all this in a six hour class, right from 10 to four Pacific. And then I'm going to put you in a marketplace to learn these skills. For some of you, it's not for a lot of you. Here's what I'm going to say for those of you who don't want to pick up the phone and dial, and you want to do it all online, then let our team just do it. So again, I want to see you at my event. Even if you can only show up for a few hours, click on the link below, grab the two guest tickets, and that'll follow up with a gap analysis, which is your student profile. You want to fill that out. It's in the first three chapters of my millionaire maker book. So I'll give you a copy of my ebook copy of the first chapters of my millionaire maker. So you get the tickets, you're going to get three chapters. You'll fill out a profile. I'm going to see you in a few weeks. I'm going to teach you how to make money. You make a decision, what kind of entrepreneur you want to be. And at any time between now and then, if you have any questions, go to asklaurel.com. Ask a question, make a request. I have somebody there all the time, answering every question that you ask. Look forward to working with you and supporting you on your journey. Talk to you tomorrow.