David Royce

Whereas if you start a brand new business on your own, you have a 20% success rate.

It's actually flipped.

You're that much worse off.

Within five years, you're out of business, or at least 80% are.

In 10 years, most businesses, I think it's like 95% are out of business.

So those are some pretty tough odds.

So it's like, go get experience.

It's like, you wouldn't want to go compete in basketball against LeBron James, right?

It's like, you may love basketball.

But the idea of like, hey, I think I'm gonna go get in the NBA.

It's like, all right, well, how much experience do you have and how good are you?

You know, you gotta build up to that.

And some things are hobbies maybe, right?

They're passion driven.

But what I found is a lot of the passion industries, you know, you literally have to work for free because so many people wanna go work in those industries.

So, you know, it might be music or film, you know, it's really fun.

Or you see a lot of people get into restaurants and, you know, the margins are really, really small.

So yeah, go find something, get experience, and then develop a competitive advantage where you're really good at something.

And then if you can take that and go start, not only will you do better, but you're much more likely to get investors behind you if you need the money from somewhere else.

If you get in sales and you can accumulate money, then you can build up your war chest and then go start your own thing as well.