12 Mistakes I Made My First Year As An Entrepreneur

12 Mistakes I Made My First Year As An Entrepreneur
For detailed notes and links mentioned in this video, please visit

Today I want to talk to you about the dumbest mistakes I made my first year as an entrepreneur.
As I was making a list of all of the dumb mistakes I made, I realized that this episode could have lasted six, seven, or even eight hours, but instead of covering all of them, I’ll just share the 12 dumbest mistakes I made my first year as an entrepreneur.

#1: I Almost Quit – 0:22

#2: Trying to Become CEO Too Early – 0:49

#3 Trying to Take Advice from Too Many People – 3:16

#4: Not Knowing How to Ask for Advice – 5:22

#5: Forcing Vs. Influencing – 7:08

#6: Living the Dream Too Early – 8:21

#7 Trying to Sell Too Many Products as an Entrepreneur – 9:54

#8 Thinking I Knew it All – 14:01

#9: Partying Too Hard – 16:07

#10: Acting Like a Boss Instead of an Employee – 18:49

#11: Not Having a Schedule – 20:16

#12: Not Knowing the Value of a Business Plan – 20:59

Those were the 12 dumbest mistakes I made — there were a lot more! Comment at the bottom to let me know the biggest mistakes you’ve made, and if you haven’t already done so, be sure to subscribe.

For detailed notes and links mentioned in this video, please visit

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Schedule: New episodes every Tuesday and Thursday on a broad array of entrepreneurial topics. To see more videos from Entrepreneur Network partner, Patrick Bet-David check out VALUETAINMENT

26 thoughts on “12 Mistakes I Made My First Year As An Entrepreneur

  • June 14, 2017 at 6:49 pm
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    Not saving any money to compensate for the mistakes that I’ve done in order to keep the business afloat

  • June 15, 2017 at 9:50 pm
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    Enjoyed your presentation.That was real and direct. I think the most striking thing for me here is to work as an employee not like boss. Lead instead of manage; influence instead of force. However, is there anything wrong launching 5 different products within the same industry? I mean I am working on launching 5 different food brands in Nigeria. You talked about focusing on one product. Will like to hear from you..

  • June 16, 2017 at 6:43 pm
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    I think you are a smart person that is willing to share valuable information. Thank you for that! However it is astonishing to me that you believe that you are talking about entrepreneurship. By my definitions you are talking about speculating the market and some kind of opportunism and parasitism that allows people like you to make money by selling without producing anything. In order to sell, what do you produce for the society? I excuse myself, if you put you into a wrong category, however, if I only listen what you have to say in this video, you are inspiring people to try to get rich and leave a good life without being in any way useful to the society. Could you emphasize in what way your activity is valuable for other people in the community? If you cannot you are not an entrepreneur, so you cannot talk about the subject.

  • June 16, 2017 at 10:14 pm
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    I have a question about “Living the dream too early”. Do you think that, buying a new car could be a way to show the world your entrepreneurial evolution, I have an asset that gives me an extra income that could make the car pay by itself, but I’m a little bit not sure if to proceed or not. I’m on year 2 of my entrepreneurship life… (still work for the government though)

  • June 20, 2017 at 2:04 am
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    Hey Pat! I love your channel, but I wonder why you don’t promote your Youtube channel more on Facebook?

  • June 21, 2017 at 5:17 am
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    Dumbest mistake: being scared to grab jobs by the “balls” and doing what ever it takes to complete it; was being lazy in ways

    What genre of business do you deal with?

  • June 21, 2017 at 11:04 pm
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    Had to come back and subscribe to your channel. Some plain truths you dished out.

  • June 22, 2017 at 12:21 am
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    Im a bit autistic so watching this on 2 speed is soo good

  • June 24, 2017 at 5:02 pm
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    Thank you.. this is very inspiring. i am a medical scientist aspiring to be an entrepreneur in my field…
    Therefore, i am hoping these videos will help guide me to come out of my comfort and take that leap… 🙂

  • June 25, 2017 at 4:38 am
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    this is very useful!! The business plan is what Im going to accomplish today not what I hope to accomplish over a long period of time.

  • June 25, 2017 at 6:22 am
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    Transitioning from no boss to a boss is the HARDEST thing. Self discipline is so slow to develop. Days go by fast, but some days early on I went WTF am I doing. I’m not doing what I should be. WTF. It came from always being told what to do in school and my early jobs. It is like my mind and body had to go through a “FUCK YOU” phase where I did whatever I want to learn how to then choose what I want to do carefully.

  • June 27, 2017 at 11:16 am
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    best video I’ve seen in a long time. much luv, bruv

  • June 27, 2017 at 11:17 am
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    I got a kick ass idea and even got the spark, but the organization and lack of discipline is killing me.

  • June 28, 2017 at 9:05 am
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    Man, I only watch your videos once in a while, but everything you say is powerful good advice.

  • June 28, 2017 at 2:27 pm
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    Loving your videos, thank you.

    Biggest mistake: having a losing mentality before even starting and putting myself off from ever trying in fear of failure.

  • June 28, 2017 at 2:50 pm
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    dumbest mistake is that im scared to start!!!! and i am lazy!!!!!!!!

  • June 29, 2017 at 1:46 am
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    lol idk about you but the first thing that came to mind when u said Chicago bulls was Derrick rose ??? but no I get the point thanks

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