Tag Archives: finance

3 reasons why you can’t succeed without a business plan.

Many start up entrepreneurs had the words 'business plan'; it means they have to stop the creative process to write down their ideas. Who would want to do that. Here are a few reasons why you want to:

IT'S NOT FOR YOU.

First, contrary to what most people think, your business plan isn't for you; it's for others. You know what you're going to do already. If anything your business plan with just reconfirm that. Other people need to see your vision even if they are not visionaries and a business plan helps that.

HOUSTON, YOU HAVE A PROBLEM.

Secondly, there's just something about writing down your plan, or strategy, that makes you think about your process from head to toe. You will be forced at that moment to work out any problematic areas your idea may have – be it financial or legal. You will want to have solutions to these problems before you walk in the meeting and get roasted. 😂

DO YOU EVEN LIFT, BRO?

We hear it all the time, people that say have a certain skill or trade and they really don't. When you slap your business plan down on the table fewer people will doubt you then. Imagine being a banker that is considering giving you a business loan, but you don't have a plan… it ain't gonna happen. People need to know that you really intent to do the things you speak about. You have to show that you are committed.

CONCLUSION

Get one. 😂

I gotta get back to work… Let me know if you have any questions, and drop a comment below.

What do you want me to write about next? Send me a message on IG or twitter.

– Quentin B. Smith

✌️

3 Tell-tell signs that you may have the wrong business partner…

Signing on the dotted line
Quentin B. Smith signs on the dotted line for an investment.

1. Make sure they have Good credit.

Over 700. Find out if they have student loans. As a new business owner, you will eventually be applying for loans using your personal credit until your business has established its own credit that is good enough to be run on its own.

Business are usually able to secure larger loans than individuals, making the credit check a little more strengent than normal personal credit applications. You want to make sure you have minimized your debt and your partner has too. 

2. Make sure they haven’t had any run ins with the law.

When looking for investments from outsiders, venture capital firms want to know if they can trust you with their money. How can they trust you if they find that you have two armed robberies on your record. 

If you and your partner are not ethical people, you won’t build an ethical business. Point. blank. period. 

3. Make sure they have kids. lol

I know this sounds counterintuitive, but I prefer to work with partner with a family than a partner without one. People with kids are not playing around. They have mouths to feed…

In conclusion

No matter how much you like a person’s personality, they have to be good on paper too. As you can see, It pays to stay clean and stay out of trouble. Hope this article helps. 

Wishing you success,

– Quentin B. Smith

Follow me on Instagram at: http://instagram.com/quentinbsmith

Why turning your hobby into a business is not such a good idea.ย 


I have a people that come up to me all the time with their business ideas and it’s so painful to hear so if the ideas they come up with. People always say do what you love and I couldn’t disagree more. 

What is your goal?

It’s painful to hear their ideas; not because they are bad ideas, but because they don’t make great businesses. When I got into business at 16, I loved design. So I became a graphic designer. 

That was my passion. But that wasn’t my goal. My goal was to get rich AF. So, as you can see, my passion and my goals did not align… When was the last time you met a ballin’ ass/wealthy graphic designer?? ๐Ÿค”

Keep your hobby, a hobby, for your own sake. 

My second reason not to do what you love is because it takes away the only outlet you have to have fun in life. Imagine getting frustrated at work and wanting to get away from it all, but what used to be your get away is now you work… see what I mean?

I love cars, and own a franchise of car dealerships. Unfortunately, I dont enjoy them like I used to because every time I see a car I start thinking about my business. Don’t do it. Do this instead:

Make money, spend it on your hobby

My advice is always to start a business that is for profit, and use the profit to fund your hobby. I know people that love mountain bikes. They will spend $10,000 on a mountain bike… They use their goal of a $10,000 mountain bike as motivation to do well in business. Win, Win. 

When it comes to turning your hobby into a business, reconsider and start a business the fund your hobby.

Hope this helps,

Be great today,

โ€” Q!

The one and only way to supercharge your 2017.

Everyone wants to know how to get that boost in 2017. I read a book called Leaders eat Last this week and it talked about how much more important things become when itโ€™s a matter of life and death, which got me thinking: Why donโ€™t we treat success like itโ€™s life or death?

Imagine that you know you are going to die on Dec. 31st 2017. How hard would you go?

1 common misconception about perfect timing. โ˜๏ธ๏ธ

Everybody does all this preparation to be successful instead of just actually being successful. They wait on the perfect time or the perfect opportunity to be great. The truth is there’s no such thing as perfect timing. 

Quentin B. Smith's Millennials to Millionaires: The young entrepreneurs guide to getting out of debt
Quentin B. Smith’s Millennials to Millionaires: The young entrepreneurs guide to getting out of debt

WHAT INSPIRED ME TO WRITE MILLENNIALS TO MILLIONAIRES?

โ€ชFor the last 2-3 months I’ve been contemplating writing a book about getting out of debt. At first I wanted to write the perfect book, then my online mentor Grant Cardone, Author of 19 self-help and business books, said something that really made sense to me:

Grant says that instead of him focusing on writing the perfect book, he focuses on writing a book. This is so counterintuitive but he has written way more books than anyone else I know and has grown a net worth of over $500 million from using this type of massive action. 

Instead of me trying to wait to write the perfect book, I just wanted to focus on writing a book. I have to trust that I am good enough to do great work whether I spent 10 years on it, or 10 days. (It literally, probably only took me 10 days lol)

WHY I WROTE THIS BOOK:

I wrote this book because I wanted to provide the information for those that are hungry enough to go and get it. I will admit that I do feel guilty when I am wearing expensive clothes and taking trips and not showing other people how to do it. Because whenever I tell people how to do it they don’t take action, sometimes I feel like it’s a waste of time. But I have to remember that people like us are far and few and somewhere out there there is one person who is dying to get their hands on this information. I believe that everyone’s goal should be to change one persons life before they leave this earth. This is our purpose. So if this book only helps one person, I have done my job.

IN CONCLUSION 

This new #book, Millennials to Millionaires, is for my friends, the hustlas, the people like you and me, who REALLY want to make a difference and become #successful while we’re still young!!!!

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Let me know if I you are paying attention by leaving a comment below and sharing this with a friend. – Q

http://instagram.com/quentinbsmith