Build Yourself an ATM, says business leader and author, Yuen Yung, in an interview with Wen
It’s often a dream for people to be able to make money while doing absolutely nothing. While what many believe will remain a dream, entrepreneurs can turn it into reality with the right structure and impact. Too bad there’s no one to tell you exactly how it’s done. Until now.
“Build a business, build something for yourself, build yourself an ATM machine so that you can make money without doing anything,” serial entrepreneur and investment leader Yuen Yung told Wen. Yuen’s second book, The Business Model Blueprint, provides a framework of what it takes to build a successful business from the ground up - and keep the money coming in.
For over a decade Yuen Yung has been considered a thought leader within the investment industry. Having received recognition multiple times since becoming a finalist for the Austin 40 under 40 in 2013, Yuen is now the CEO of the multi-family real estate investment firm, Casoro Group.
Of course, with his proven success and track record, Yuen must have a bank of advice to give to budding entrepreneurs.
It’s not about becoming successful, it's about being significant.
It’s not only about becoming more and more successful, says Yuen, it’s about becoming more significant. To be significant means to create a positive impact on your community. This lesson, says Yuen, wasn’t taught during his time at MIT. “It was from watching my parents from a very young age.”
Yuen grew his love of entrepreneurship from his parents, who moved to the United States after giving up the life they knew, for the opportunities available to them in this new and exciting country. Regardless of the “disability” of not having English as their first language, Yuen’s parents were able to overcome their problems and grow multiple businesses.
Make an impact and let the money take care of itself.
When entrepreneurs start businesses, it’s usually to make money. Oftentimes these people are driven to take a chance to get out of their current situation, especially if that situation is poverty. Eventually, though, it does become less about the money and more about helping people and making an impact on their lives. From there, says Yuen, the money will take care of itself.
Follow your own path, not someone else’s.
Follow your own path, not the one everyone takes. It was being pushed into entrepreneurship at a young age and being able to gain valuable knowledge of what it takes to grow a business that led him to be entrepreneurial. Recognizing the path you are on and embracing it is essential to success.
“Whatever your path is, it’ll give you the advantages to go do the next thing. That’s what we have to realize.”
Listen to the entire podcast here to find out all of Yuen’s experiences and some tools and tips for growing a business from start to finish. To learn more about Yuen’s most recent book or to gain the entire picture by reading his first, check out his website https://lnkd.in/eNrPhaWq
Are you hoping to learn more about how If Not Now, Wen can help you build the perfect pitch to provide to investors that will resonate and get you the capital you need? Reach out for a conversation now.