Kevin Zhang is a serial entrepreneur and TEDx speaker who’s impacted thousands of lives by inspiring them to hit their goals and lead a success-filled lifestyle.
In this article, Kevin shares advice that he wishes he knew when he was a young entrepreneur;
Words of Advice
Kevin shares that the most significant piece of advice he could give a young entrepreneur is to focus on what they are really passionate about. Most young entrepreneurs these days have a disease called the “Shiny object syndrome.”
The Shiny Object Syndrome makes you lose focus on the current goals you have at hand and set out to start new projects that seem like a way to make “quick and easy money.”
“The first thing you need to understand is that there is no such thing as fast and easy money. Every and any form of entrepreneurship is hard – it’s simple logic. If there were an easy way to make money, the market would have already corrected it.
The beauty in entrepreneurship isn’t that it’s easy; it’s gut worth it. It can make you freer than any traditional career and help you accomplish your financial goals while living your dream lifestyle.” – Kevin says.
Preventing Burnout
Personal health is something most entrepreneurs often neglect. Kevin shares that he works out intensely almost every day, and he maintains a healthy diet.
“I’ve been an entrepreneur during months where I didn’t work out and didn’t eat healthy. I’ve also been an entrepreneur during months where I worked out consistently and had a balanced diet.” – Vance says
He further explains that there was a world of difference in his attitude and results. He firmly believes that the entire body is a system, and the mind is just a part of it.
If the rest of the system is getting neglected or even abused, your mind cannot function optimally. Your mind also fuels how much energy and positivity you have when you start and end your day.
Avoiding Mistakes as a Young Entrepreneur
Kevin’s advice to young entrepreneurs is to be generous with equity and ideas.
“Being generous doesn’t mean that you don’t take the proper steps to protect yourself and your business, especially if it’s already progressed, and you’ve already put in work and received results.
That’s something smart to do. At the beginning of a relationship, though, especially if you’re trying to convince someone to invest in you or work with you, it’s a terrible way to start.
The more successful you become, and the more people are asking you for support/investments, the more you can afford to be stingy with equity and ideas. If you’re starting, don’t take yourself too seriously.
The entrepreneurs that ask me for my money or my advice and haven’t accomplished anything except think about an idea and a business plan but enter a meeting as if we’re negotiating the acquisition of a Fortune 500 company immediately turn me off.
Remember one thing – your idea is worth nothing. Absolutely nothing until there is execution. The world is full of infinite smart people and countless excellent ideas. Yours probably isn’t that special. No one can ever win on just an idea – it’s the execution that matters.” – Kevin