I'd like you to imagine something for me today.

Picture this game show:

There are three identical looking cars standing in a line. Painted Blue, Red, Green.

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Behind the cars are 4 people.

The participants know it's a race. They also know if they win the race, they win money.

A starting gun goes off.

Participant #1, without thinking, sprints to the first car (Blue).

Participant #2 stands there assessing which car may be fastest.

Meanwhile Participants #3 and #4 each jump into the last remaining cars (green and red).

As the dust settles, spectators can see that participant #2 got left behind, with a sad look on his face.

Participant #1 starts in the lead with Blue car but within a minute participants #3 and #4 pass him. Blue car has a tiny engine and one of the tires is flat.

All of a sudden a message flashes in the sky for everyone to read. "Mile 1 of 300 complete".

It's going to be a LONG race!

A few moments later Red car which was in the lead, runs out of gas and dies. The participant driving it throws his hands in the air and walks off the tracks.

It takes 24 hours but the results come in. Participant #4 wins the race.

Participant #1 in Blue car pushes his car for 24 hours and takes 2nd place.

Why am I telling you about this game show?

I was participant #1 and my first business was the Blue Car (called StudySoup).

When I started it I had never heard of entrepreneurship. I didn't know what made for a good or bad business. So I started the first business that came to mind for me. And when it got hard I pushed harder because I thought with enough effort and time it would work out.

The result?

At the end of 3 years, the business was small, and the journey was disappointing.

Now before I step into new ventures I spend time researching the industry, competition, and profit dynamics. I have a whole research routine I go through (which I can share with you later).

I know starting a business is hard, so if I'm going to do it, I want to stack the deck in my favor.

Some takeaways

Think about situations in life where you are participant #2. You're passive about something that's important to you. You don't take action. Or you think you're doing the right thing but you're overthinking it, and you get left behind.

This may be a relationship or a promotion you're waiting to ask for. Or a project you've wanted to start forever...

You also don't want to be me (participant #1).

Overeager, lacking in strategic thought, barreling your time and energy into the first business you see. By spending some time doing research, considering other industries, and ignoring your passion, you'll make better decisions.

So the most important thing is: Do It. Life is short. Get off the starting line, or you will end up regretting it later.

If things don't go your way. Don't give up.

When my car broke down above, I pushed it across the finish line. It took 24 hours, but I still came in 2nd place. That's pretty good.

Live your life hoping for the best, but expect things to go wrong. They will. If you expect things to go wrong, you will adapt and push forward.

Turns out you can get really far in life with a good attitude and a lot of effort.

🔑 Hospitality Company Deal Overview

18-months ago I invested in a hotel management company. The hotel pictured below was their first project.

One thing I didn't know is that small hotels don't make much money because they don't have enough rooms for the fixed costs required to run the property.

Our hotel management company found a way to automate much of the guest experience and lower labor expenses which led to a 300% increase in GOP (Gross Operating Profit).

The deal created 100%+ return for us in the first year on our investment.

If you or your friend own a small hotel you want us to manage please reach-out (less 125 rooms). We can likely decrease your costs while increasing your profits.

If you're an accredited investor, sign-up to learn about new hotel investments as they come up here. We're working on a new project that I'm looking forward to sharing later this week.

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Have a great week!

Sieva

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