This is the first in an installment of weekly opinion pieces we’ll be adding on Entrepreneurship and Mindset. Some will be less negative to most people than this one.
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A trend that will soon end
Over the last 12 or so years Entrepreneurship has become a really trendy thing, I would say it’s the equivalent of smoking in the 90’s, “I only smoke when I’m drinking” has now become, “Yea bro, I gots like 7 side hustles…you still in that 9-5 brah. Do you even blog?”
The problem with this for us full time entrepreneurs is that it’s really really irritating. The problem is that every Tom, Dick and/or Harry are now entrepreneurs but I know that when the going gets tough, the not so tough will go back to their day job.
I think it’s time for us business owners to stop just talking about our successes and start telling people that this whole thing of running a business and trying to create wealth from nothing but your ideas and the execution you run with from that idea, is possibly the most difficult thing you will do in your life.
Most movies will only show the slight struggle but 60%+ of the movie is around the success portion of the story. I think it’s time to put some home truths for those who are considering a switch to this life in place and set some rules for who can call themselves an entrepreneur.
There is no such thing as “Get Rich Quick” or “Overnight Millionaire”
Let’s deal with this one head on, anyone who is telling you that you can “get rich quick” is lying, but now they use more subtle language, everything is the easy way, it’s “a simple way.” When you hear this run for the hill. As I always say with Affiliate Marketing or Print on Demand, yes it’s simple, but it’s not easy. What I mean by that is the entire model of how it works is not rocket science but it’s not easy because you’ll have to grind for about a year with each of these ideas before you see any real returns.
There are some quick ways to make a little money, but it’s 99% likely that no matter what the business, you will need to grind. I’m not complaining about this, the grind I spent for 10 years, learning about different businesses, people and most importantly, myself, makes the successes I now enjoy each day even better.
My point is, if anyone tells you that you can make a quick buck, then they are either drunk, a Soprano or they are trying to sell some stupid course!
It’s a Lifestyle choice
“The three most harmful addictions are heroin, carbohydrates and a monthly salary.”
The thing about running a business is it’s incredibly hard, although I would encourage anyone who wants to jump in to start with what Gary Veynerhuckeduponcoke247 (I’m not saying he’s actually on coke, but jesus, where does he get that energy, it’s like an ADHD kid who just drank a lorry full of Coca Cola) would call a “sided hustle.”
I would suggest that if you want to run a business full time then you should make sure that it is something that you cannot physically go without trying in your life, because I hate to say this but there is a 99% chance your first attempt will fail.
The second attempt has a failure rate of 90% and then depending on how willing you are to adapt and learn it’s a steep decline in failure from attempt three on wards.
I really think to be an entrepreneur, although anyone can do it, you have to really want to otherwise you will give up before you find success. Of course there will be exceptions, there always is.
Now the upside
Confucius once said: “We have two lives, and the second begins when we realize we only have one.” I’m only in my early 30’s but I’ve realised this already, it’s incredibly true, which is why I will now switch what I’ve said and say, try it, at least once. If you’ve never run a business before then please for the love of god, give it a go.
In the past 15 years of running various businesses, from an Adult Entertainment business to a banking software company working with some of the most prestigious investment banks in the world, I’ve had moments on both sides of the pendulum.
I’ve gone from wanting to shout from the rooftop to wanting to throw myself off it, it’s been a journey of ups and downs, but I wouldn’t change it for the world. The one thing you will learn from running a business that a day job will never give you, is elation like you’ve never felt, unless maybe you wake up beside Margot Robbie….dammit Tom.
What I mean by this is when it’s your business, your idea, your creation, you’ll have one day of success that will make you forget months of failures, that feeling to us crazy ones who decided to take the road less taken is the Entrepreneurial equivalent of heroine and that my friends is why we do it.
Why do you run your own business, what is your motivation, let us know in the comments.