Grant Cardone is a lot of things—real estate investor, entrepreneur, father, and a man who has built a career on telling people exactly how he sees it, no filter included. His social media is a steady stream of motivational clips, money talks, and blunt advice aimed at anyone willing to listen. Love him or not, the man has opinions, and he’s not shy about sharing them. In a TikTok posted to his account, Cardone took aim at one of the most sacred rules in personal finance: diversification. “Rich people do ...

Core Insights - The article discusses the journey of Jaclyn Johnson, founder of Create & Cultivate, highlighting her initial success, the challenges faced post-sale, and her decision to buy back her company [4][6][18]. Company Growth and Development - Create & Cultivate evolved from a side hustle into a national movement, hosting sold-out events with notable figures by 2020 [2]. - Johnson initially had a marketing business and $50,000 in savings before launching Create & Cultivate, which outgrew her marketing agency [3]. Financial Transactions and Valuation - Johnson sold Create & Cultivate for $22 million in 2021, but later bought back the company at a lower valuation, aiming to rebuild it into a $1 billion brand [4][6]. Entrepreneurial Challenges and Realities - The article emphasizes the high failure rate of small businesses, with approximately 20% failing in the first year and nearly 70% by the tenth year [7]. - It discusses the disconnect between entrepreneurial success stories and the statistical reality of many startups, highlighting survivorship bias [9]. Financial Considerations for Entrepreneurs - Starting a sustainable business often requires significant capital, typically between $50,000 to $150,000, with online ventures still needing substantial investments for scaling [11]. - Many entrepreneurs face the challenge of sustaining operations through the first year, often relying on personal savings or high-interest debt [12]. Risk Management and Strategic Planning - The article advocates for calculated risk-taking rather than reckless gambling, suggesting that successful founders protect themselves before making significant leaps [13]. - It recommends maintaining six to twelve months of expenses as a financial buffer before leaving a full-time job, allowing for flexibility during early growth periods [15]. Rethinking Success in Entrepreneurship - Johnson's experience illustrates that wealth does not always equate to fulfillment, as she reframed her journey to focus on purpose and creative control [18]. - The article concludes that entrepreneurship remains a viable path to wealth creation, especially in an economy marked by wage stagnation, but emphasizes the importance of pairing ambition with prudence [19].