Chavez Allen, otherwise known as Pajama Billionaire, is a successful entrepreneur, forex trader, educator, and advocate for financial freedom. His story of struggle and journey of success can serve as true motivation for many of us. He showed the world that making money online in the Caribbean, the USA and the rest of the world is not only possible, but one of the best things you can do to earn a living. He encourages everyone to make money online and gives them the skills and tools to replicate his success.
He suffered when he was younger. He had to organize various side hustles to put himself through school and when he had left, had other struggles such as not being able to buy food for months because he had to pay his bills and make sure that he had a roof over his head. After educating himself and improving his financial literacy, this Jamaican entrepreneur decided to start a business that could help anyone with similar difficulties, regardless of their background, liberate themselves from their situation the way he did. Currency/forex trading has changed his life, providing him with the kind of income that no other job or skill could. Being a forex trader also improved his risk management skills, confidence and consistency, allowing him to start many businesses to accomplish financial abundance.
He established Billionaires Academy to provide everyone who wished for a better life with the skills and support they needed to do just that. Through Billionaires Academy, people were now able to provide for their families, start businesses, put themselves through school, pay off debt, leave their traditional job, take vacations, go on planes for the first time, treat themselves, buy gifts for their loved ones, put food on the table and live a more abundant life. He faced many challenges along the way, some of which were:
Lack of Capital
Lack of capital is one of the biggest challenges faced by most entrepreneurs. However, this challenge can be tackled by evaluating themselves and their talents, the things and skills they are good at, and using their abilities and talents as tools to raise the capital required to start their business.
Fear of Failure
Not knowing whether your business will be successful or not, you must learn to face and tackle the fear of failure and stay motivated instead of being disappointed and demotivated to even start
Lack of Professionalism
Not knowing what it takes to start and operate your business and adapt when something affects your business, such as a pandemic, is a considerable challenge. You need to create a plan that includes goal setting and the formulas you’ll use to achieve those goals
Your surroundings can play a very significant role. Suppose you surround yourself with people who discourage you from starting your business, especially people who are not successful business owners. In that case, it may negatively affect your desire to start your own business and be successful.
Lack of Resources
Having access to the right materials and the best team is the guarantee of your success. Lack of resources is one of the biggest challenges when starting a business so ensure you evaluate your business, become familiar with what it will need to survive and thrive and then look for the materials and members of the team you’ll need to get your business up and running and sustain it.
How to Work Against the Traditional Mindset
Chavez Allen knows how to work against the traditional mindset and teaches others to do the same on a day to day basis. In Jamaica, and other parts of the world, children are taught to go to school for years, work hard, and then graduate to find a job. However, a lot of people want to start a business, which is a big challenge. The existing systems are intended for those who complete their education to find employment and are not encouraged to acquire a skill to generate income or start a business. Even with the Internet, which offers better access to information and better access to people who do above-average things and create their own companies, Jamaica continues to move slowly, still following the traditional mindset expecting to be able to live a different life.
When starting a business, you can sometimes come across a lot of uncertainties and doubts. Having a positive, healthy, and winning mindset will help you move past those thoughts and overcome what someone else might be saying because you are confident in yourself and confident in what you are doing. Your state of mind will also help you to be intentional in your own movements and decisions. Evaluate your daily habits and decisions. If you have an intentional mindset, you will get rid of the habits that are not contributing to your success, and you will then create the habits that are.