Best Advice Every 18-20 Year Old Starting A Business Needs To Hear | Interview w/Jorge Pelayo
Matt: What’s cracking everybody. Matt Sapaula here, hailing to you from the money-smart movement headquarters here in Illinois. And my guest today is my good friend and business partner, Mr. Jorge Pelayo. How’re you doing Jorge?
Jorge: Brother! I’m excited today, excited about the episode.
Matt: If you’re in your late teens or early twenties, you’ve got to check out today’s episode, especially in the midst of a pandemic where millions are filing for unemployment. Back in the day, I was an Olive Garder server and Jorge used to be a Red Lobster server. We are both former restaurant employees. Jorge, you started entrepreneurship when you were 18 years old. Take us back to what you were thinking.
Jorge: I was looking for the fastest way to get to my dream life. I wanted to travel the world, take care of my parents, buy them a home, buy a nice car, have some money in the bank, and things like this. I think the things I liked the most about entrepreneurship was the control of time, the fact that you are deciding what you want to do, how you want to do it, getting away from having to do something even if you don’t want to, getting away from a schedule and a boss! I think we all want that.
Matt: What were the first few roadblocks you faced when you started off?
Jorge: I think I overestimated everybody’s receptiveness. I thought everyone would be excited for me, and interested in joining my team. I quit my job before even getting a license. I really overestimated my ability and underestimated the work that is needed. I also realized what a small percentage of people actually make good financial decisions and how very few people actually want to do the work that is necessary to become wealthy.
Matt: So, what were the biggest mistakes you faced in sales as a young entrepreneur?
Jorge: I think the first thing I had to overcome was consistency, in terms of being consistent in my effort every single day. Another important one was emotional maturity. I had to change the way I saw things, I learned to have more faith in the process.
Matt: So, when you’re coaching new entrepreneurs, what jacks you up?
Jorge: I think the hunger factor is the number one for me. It’s quite simple really. If a student is hungry to learn, the teacher will be hungry to teach. So, a student mentality is really important. The second factor I would say that is most important is humility. It’s a very attractive quality in people. Even if you are at a certain level, you can always learn from people around you. It doesn’t matter if they are just getting started. There is always something you can learn from other people and you need to have the humility to do so. In fact, Socrates said, “All I know is that I know nothing at all.