Avoid These 8 Costly Business Mistakes

8 of the biggest mistakes I made when starting my businesses. If you're in your 20's or starting a company, make sure you avoid this problems!
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[@CityStays]

James, thank you for this. I have been watching you for some time, I believe you are the most undervalued channel I have seen on KZbin. I am 22 years old, I have recently set-up my own property company, I am training to be a lawyer. Business excites me, building teams, companies, and problem solving excites me. My goal is to build a group of companies worth £100MM before I die. To have someone like you, who has been there and done it, is invaluable. Thank you.

[@JamesSinclairEntrepreneur]

Thanks for your kind words! I’ll keep making the content for you!

[@Rufan-yy7rn]

Agreed.

[@panagiotismaris2775]

@@JamesSinclairEntrepreneur right there boys customer cuddle

[@derekbarnes370]

Definition of a business consultant: they come and assess your business, tell you things that you already know but are afraid to admit, then charge you a fortune for the privilege

[@paulfri1569]

Best business then?

[@Professional_Youtube_Commenter]

need to get me some of that eductation, sounds like i need it.

[@nicksheps1]

Hi James. Im English, moved to Sydney and set up a recruitment business over there. 9 staff now - nervous but also exciting as my payroll is getting higher. Not really profitable yet but i'll get there. Love your videos! Really add a lot of value - thank you.

[@nicke6394]

Ha, ha you’re so right about so called “Professional” advisors 😂😂😂

[@tacodias]

Isn’t he a “professional” advisor?

[@Rufan-yy7rn]

When I try to tell 'potential entrepreneurs' about the vicissitudes of the open market, they usually don't want to know, they just want to live in their fantasies and the market eats them alive.

[@MrJeffHead]

It'd be great to do a video on your training business like you have on your other businesses. Profit margins, EBITDA, how you plan to maximize customer spend etc.

[@JamesSinclairEntrepreneur]

I don’t really do training as a business, it’s a few days a year to make content. I don’t think it’s a great business model. I charge a few hundred pounds to come to a seminar and put on some events. The drive is to create a personal brand to open doors for my trading businesses. The real NO NO with a training business is it’s a key person business that is around one person’s personality ( me in this case ) which means you can’t sell it.

[@Mrhaydentv]

Great video James. Since chatting with you on the podcast I’ve added £20,000 a month onto my biz monthly revenue + am in the process of hiring a Uk staff member to take over the daily running of the biz! All the best!

[@ldn876]

❤️

[@JamesSinclairEntrepreneur]

Go you! So happy reading this comment!

[@Mrhaydentv]

@@JamesSinclairEntrepreneur 5 years time will see the real compounding of that conversation mate! cannot thank you enough for making me think bigger!

[@claytonphillips2930]

content is gold. after watching 3 videos i still cant find something i disagree with. you are sharing what many call 'expensive knowledge'

[@ashleybarker937]

I'm only having a joke, but eductation at 6:38 made me laugh. Keep up the good work

[@LetsJustBuildIt]

I am 34 and run several businesses. I do agree with alot of your advice. I have a construction business but in a niche. High turnover low margin. Key person issues that I am working on. I also do property development.There are many challenges in business

[@RyotaMitarai]

Can you afford a couple minutes to tell us the story about how you started a business like your construction business or your property development? I'm 21 and am a bit confused about the starting phase of the business.

[@GlitchVR]

I think the button icons need to be a big bigger in the thumbnail also to make it more clicky - love chatting thumbnails!

[@paulfri1569]

Good point 👉 Ego is a business killer is what someone told me once..

[@ionelakonyardi6938]

Outstanding advice James, I love watching your videos

[@lauram2456]

Thanks James for sharing these tips, so true and helpful🎉

[@Jknold955]

Subscribed! Love your Videos, James. Thank you!

[@metric_media5723]

Brilliant! Advice!

[@marklewis3023]

Good video James, I'm waiting to see 1 on the purchase of the hotel though!

[@steveharman8907]

Another gem thanks James...maybe see you one day at Rossi

[@fredmercury1314]

So if I think bigger I can buy a multi-million pound hotel instead of a two-bed house? I don't think it works like that but I guess if this guy is rich, he must be right.

[@LillyMM875]

Any ideas on how to make the money to start these businesses?

[@frederikqu7717]

First thing is to live frugaly. If you spend only 800€ a month you can quickly build up some good savings. And eventually your first investement into the business is your time I guess, but that part I havent tried

[@SerMattzio]

Great channel, glad it was recommended to me. Thanks for the advice.

[@JamesSinclairEntrepreneur]

Thanks for watching!

[@slinkus-dq4co]

Thanks for the video, good advice.

[@GlitchVR]

Liking this video a lot - think this type of video will really feed the algorithum and get you other videos out there! Keep it coming!

[@JamesSinclairEntrepreneur]

They’re coming!

[@Bussellification]

Great advice, the people really make the business. Having people that can do jobs better than yourself frees up so much time to concentrate on other things that can grow the business even more. When do you plan on opening the restaurant at the blue boar?

[@vivekshivdasani9521]

One of the most stupid and dangerous advice I keep hearing from accountants and finance professionals is recommending an investment because it has AAA rating.

[@berkinant]

Awesome !!! Thank you !!!

[@stonebox2404]

realy love the video's James greetings from belgium.

[@ReikiHealingMusic_com]

Very useful and motivating. I wanted to highlight one of your comments was mts something like " buildit it to be able to sell even if you don't want to" i believe that for the majority of us that is a very important point. that might even apply if you are looking for investors down the line. after all, they want to "exit" a great book on this topic that was "built to sell" Thanks for all your videos

[@cosimavonliebenau8317]

Yes, that was an aha moment for me, too.

[@varyin7963]

Согласен!

[@matthewjbass]

How much to rent the ‘fuction’ room? Sorry, couldn’t resist!

[@hlalefosefika9082]

Awesome and informative video, James. Tell me, what do you think about FMCG in business with big retail?

[@nicecarsdarlington]

Hi love the content, watch the videos every single one, some more than once and i learn something every time. These ticketed events will there be any up north?. Also do you think having a car selling business is a no no?

[@JamesSinclairEntrepreneur]

None up north, I’m just too busy to travel atm. Next big one is London in September!

[@Farmwald853]

The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.

[@Parzen753]

Investing in both real estate and stocks can be prudent choices, particularly when backed by a robust trading strategy that can navigate you through prosperous periods.

[@LagerthaJackson]

You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.

[@AustinButler-kd4ny]

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

[@LagerthaJackson]

Catherine Morrison Evans’ has been my go-to for market insights. She doesn't manage my investments; instead, I mirror her trades, which has been a great learning experience. Her knack for timing and understanding market trends is uncanny. Honestly, without her, I'd still be stumbling in the dark.

[@AustinButler-kd4ny]

​@@LagerthaJackson Thanks for clearing that up, I curiously searched for ‘’Catherine Morrison Evans’’ on the internet and thankfully, I came across her my goal is to retire in 5years time.

[@carlfairbanks3337]

Man, great content!

[@andrewsalmon100]

Great video. Impatient truck drivers are a problem. See it all the time. Drive over 100klmh and your in the death zone. Make it a personal death zone please. 140klmh in the snow is super fun... crosses self.

[@AnimalAce]

I always see one big problem with stuff like this. It always seems like in these videos everyone should be able to do this. But how is that possible. The end goal is to always automate the work away. So just to support one investor or entrepreneur you need like at least 5 to 10 people doing all the other work. With that in mind its impossible for everyone to have passive income because someone always has to do the work. Well until AI but that's a wild card. So all in all it's less about the know how (even though thats important) and more of being in the right place at the right time (having the right connections/ getting lucky and working hard). I mean sure do everything in the video to increase your likely hood in success. But it's literally impossible for everyone to do this, because if everyone did, then there would be no one to do the work.

[@Anthonybrother]

That's only because capitalism needs slaves so the economy doesn't crumble.

[@frederikqu7717]

Yes, but most people won't try. In my closest 100 people nobody has a business (I'm also just 25). My grandpa had a successful one, but he's dead. And a friend wants to have one but he needs a few more years to try.

[@coffeemusic2050]

Thank you sir

[@flabbybum9562]

James, in your personal opinion, is it ever too late to start your own business and career as an entrepreneur? If so, what sort of cut off would you be thinking of?

[@Deepfocus0228]

I live you bro

[@stevo728822]

6:39 Lol...education was spelt Eductation.

[@DH-zp7bc]

A 55 bedroom hotel whoopy do. Go buy Southend Pier.

[@InMyBrz]

ONE MAN BUSINESSES NEVER make a mistake Or at least THEY don't think they don't

[@myexoticfruit]

Lấy tiền hụi về cô lon “!! - Trying to comment but keyboard is in Vietnamese! 😑

[@MayorSom]

I no longer attend any biz conference or events because those attendees are either wantreprenuer or extremely small minded individuals with rent-seeker aspirations. Get soo underwhelmed by their goals.

[@RonanTOC]

nice tan James

[@lashanda8977]

💯

[@tomm_d]

Fuction rooms always make money.

[@paulfri1569]

Can you use a shed to achieve this?

[@tomm_d]

No, sheds are for head.

[@pocketfullofry]

How you gonna spell Education wrong lol

[@ryanwells7596]

Please don't make any more of this ageist content. There's no merit in alienating a huge chunk of your audience or make people feel like they've lost out and too old.

[@DIPU1036]

Good content, but nothing new.