What a Wesley Snipe Quote Can Teach Every Entrepreneur (And it isn’t good!)

Why you should bet on other people, to succeed in business

Photo by Randy Fath on Unsplash

Every Entrepreneur has their sights set on success.

And, that’s how it should be. Because the way to accomplish anything is through focus. A dedicated firm belief coupled with a positive mindset, and unshakable faith that it can be done.

That belief should be an intrinsic, deep, detailed, and committed desire to see it happen.

This desire bets on odds being stacked in your favor, and that’s what brings us to Wesley Snipes and a quote he made in one of his movies. It’s a quote that affects the lives of most people, especially African Americans, but it’s wrong.

It’s wrong because it doesn’t draw from wisdom. (We talked about wisdom drawn from Proverbs 3: 13–14 which states, “Happy is the man who finds wisdom, and the man who gets understanding, for the gain from it is better than gain from silver and its profit better than gold.”)

It doesn’t draw from a kind of wisdom that’s more precious than rubies, silver, or gold, the kind that’s different from everything else — the kind we learned from this article — This one Habit by Warren Buffet Could (Potentially) Make You a Millionaire

Why every Entrepreneur needs this Wisdom

Now, let’s reiterate Warren Buffets’ money-making wisdom.

There is a story about Mr. Buffet playing a round of golf with friends. One of his friends challenged him to a bet and said, ‘I bet you $20 that you can’t make this putt,”

In response, Warren Buffet asked to know the odds, the guy told him “1 to 1001 — if I lose, I pay you $20, but if I win, you pay me $20,000.”

Mr. Buffet thought it over and refused to take the bet. He told him it would negate how he looks at business. The bet wasn’t in his favor. The guy was like, “well Warren, you made 5.3 billion last year, and you can’t take a $20 bet?” But Warren Buffer stood his ground.

Now think about that, especially when going into business, you need to know the odds.

What are the odds, and are those odds in your favor? Because a lot of times when trying to crack the money code in business we bet on the wrong odds and hide behind a mindset of if everybody else is betting on the same odds then it must be right, it’s called the herd mentality.

Think about that when going into a business, think about the odds as a business owner. Why do you want to do that business?

Four Entrepreneurial Hats

There are four hats worn by entrepreneurs. Every person who starts a business wears one of them.

Photo by Randy Fath on Unsplash

The first hat — The artist

An Artist is a creator, he loves to create. He’s passionate about creating stuff, and boy, does he love it! he lives to see his creations come to life, and wouldn’t have it any other way. Think of artisans, painters, writers, software engineers — you get the picture, — guys who pull stuff from their imagination.

Sadly, most artists don’t not know how to run a business. They can create beautiful stuff, but they just don’t know how to run a business. They flop as entrepreneurs because it takes more than art, creating a beautiful product to build a successful business. You need art to start a business, but you’ve got to move beyond being an artist to succeed in business.

The second hat — Owner technician

This is a guy who does the work. We can call him the workhorse. He sacrifices everything, time, sweat, and tears for the sake of work. He is always busy doing all the stuff the business needs to survive.

And he does this faithfully day in and day out. His mentality is — ‘If it’s got to be done, then I have got to do it.’

The third hat — Business owner

A business owner is focused on leveraging the business, he is focused on leading his team, and coaching people. He knows he can’t do everything by himself, so he focuses on creating systems. He creates structures, he creates a well-oiled machinery that can run without him.

His only concern is to see the business grow.

Now, as an entrepreneur, this is where you ought to be. If you were to stop right here and become a business owner, you would be successful.

But you have to lead a team, coach people and create the machinery, create a self-sustaining structure. that will outlive you.

You don’t have to build a system that creates control, a system that measures productivity so that you can see exactly what’s happening in the business.

But the truth is that we start out in business being everything else except business owners. I used to think of myself as a business owner but I was actually an owner technician.

I was focused on working on the bolts and nuts of the business,

But when I learned what I’m sharing with you, I had to work hard to create a system, get out of all the doing, and get a team to do the work. I’m still in the midst of that transformation.

Now the last hat is that of an investor or board member. Someone like Warren buffet, are people who create a defense for the business. They make sure the business stays on track, making sure the business does whatever it is it’s supposed to do.

The Fourth Hat — Investors/Board of Directors

Investors put up their money, wisdom, and networks. Most often, they seat on the board as Directors and act as coaches to the business owner.

Board members have a lot of experience in business and industry knowledge. They help the business owner to think, and back him up with their experience and finances.

A lot of board members are successful older persons who have enjoyed vast amounts of success doing things that lend experience to where the company wants to go.

So a board member doesn’t have to be an investor, and an investor doesn’t have to be a business owner, but an investor has to put their resources into the business.

Identify who you are as an Entrepreneur

A business operating at the investor level may be deemed successful, but not all businesses grow to this point.

The question is, how do artists, owner technicians, accountants, real estate agents, coaches, therapists, truck drivers, and every small business out there offering services get to this point?

The answer is on who you bet on.

That takes us back to Wesley Snipe’s quote in the movie Passenger 57, where he says, ‘I always bet on black’ meaning he always bets on himself.

What he means is that — if it’s got to be done, then he’s got to do it.

Think about that, especially if you are African American, we have this saying, ‘I’m always gonna bet on me.’

Who do you bet On?

Now here is the thing, if you’re in business, you can’t always bet on yourself, you’ve got to bet on a team, on a system, on a structure. You have to bet on what works, bet on what will take that business to a new level, you’ve got to be innovative.

All successful businesses are always innovating. They are constantly finding new ways to grow their business. Think of Facebook, Google, Twitter, and Amazon, they keep adding new stuff to their platforms, constantly changing, responding to market forces.

Takeaway

If you have to graduate from artist owner and a technician owner to business owner. You cannot quote, Wesley snipes statement, ‘I always bet on me.’ You’ve got to innovate and bet on a team, on a system, on a structure to create and grow your business.

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