Should you all in or should you hold back? This is a question that runs quite frequently in the entrepreneurs’ mind, and in this episode, Jay shares some detailed tips and advice on how you can approach this question. If you’re at a crossroads with your business or new start up this episode is for you.
- Before you decide whether to go all-in or you decide to hold back on an opportunity presented to you by life, you’ve got to look at two things, best case scenario and worst-case scenario. You got to base it on logic, not emotion because when emotion is high, intelligence is low.
- Emotions hinder so many people from achieving their goals or becoming successful maybe because they feared doing something and failed previously.
- Do is your own research. As an entrepreneur, it’s good to hear what other people are saying or reading, but it is even wiser to do your own research and not be highly dependent on the thoughts of others. Research will make you go deeper and challenge your thought process rather than jumping in based on hearsay.
- Are you secure financially? When you invest all of your money in one opportunity, you need to know what your fall-back is when things don’t go as planned.
- If you’re going for an opportunity, you need to make sure that you look at your downside as well as the upside, but if you are confused when making that final decision, it would be wise to also involve a mentor.
“When emotion is high intelligence is low.”
“The more research you do into a topic, into an area, into an opportunity, the better you will get of taking hold of the opportunity.”
“When you go into something full in, and you’ve not researched it, it’s a difficult loss.”
“If you are putting all that you got in an opportunity you didn’t research on, you are gambling.”
“Your position will be different from somebody else’s position.”
“If you’re testing it, then it may be a good idea to look at this on a contract role, rather than taking someone on full time.”
“Before you go into growth, or looking to make some mega spends, then have a look at getting the advice.”
ABOUT THE HOST
Jay Dhillon is a serial entrepreneur, investor, and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0 to 500 employees and three locations, racking up sales of over £30 million – all with no investment other than a slight amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota, and New Look, to name a few.
Its immense success inevitably brought about outside interest, and at the age of 33, Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.
A calling to give back and help others led to Jay being chosen for the highly coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.
After helping several young entrepreneurs to succeed as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.
Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.
In the UK alone 95% of businesses fail within the first five years and Jay aims to reduce that number.
Backed with the hard-earned knowledge and experience from his time in business, The Business Mentor Podcast will share Jay’s personal business lessons as well those of other successful entrepreneur guests who share their wisdom and secrets on the show.