Don't Do It! Unless you're really ready...

Our Weekly 2 Minute Read

Edition 131 - January 17, 2021

 

Don’t quit your 9 to 5 to work for yourself…. unless you are ready to do so mentally and financially. If anyone tells you a job is for people who are just over broke, they don’t appreciate a job. For some people a job is a blessing. Not everyone is meant to work for themselves nor do they want to. As long as you’re happy and not complaining that you need more, a job is amazing. There are a lot of people who do well financially just having a job and earning income from the job while being frugal and investing their money wisely into assets. A job is amazing and anyone who has a job should be grateful. There are only a small percentage of crazy people out there with a crazy dream that needs to do more, wants more control and who loves the hustle enough to actually take the risk and start up something themselves that ends up becoming successful. So before you decide to go all-in on a whim, or buy into the hype of becoming an entrepreneur, make sure you’re doing it because you have a passion for it and not just doing it for the money or hype. Because if you’re just doing it just for the money, you’ll quickly realize that for most of your life in the beginning, you’ll be overworked and underpaid. When the motivation is gone and the adversity kicks in, you’ll start to make excuses and be a complainer, just like you did in your previous job with a glass ceiling. You’ll be the one accountable for everything and when the money is not coming in, you’ll just quit and become another statistic. However, if you are one of the few who are actually crazy, then being an entrepreneur is the most incredible thing in the world and a job is like jail. An entrepreneur is allowed to go as far as he or she wants to go in their business ventures. They get to have more opportunities if the business does well. The upside is unlimited. The entrepreneur has control of what direction he or she is going and is more free to be creative. They can work as much or as little as they want on their business and even though most of the time they are not paid fairly for the work that they do, they are the person who owns the business. For a majority of time they’ll be overworked and underpaid, but eventually one day if they are lucky, they’ll be underworked and overpaid. It’s a beautiful part of being an entrepreneur.

If you truly feel like you are one of those few crazy people in the world, don’t quit your 9 to 5 just yet. Make sure you know how to save money and already have money saved up to invest in your idea. Maybe consider working as an intrepreneur first. An intrepreneur is someone who works like an entrepreneur within a company but did not take the financial risk in the beginning but can still reap the benefits. Meaning the difference between an intrepreneur and an entrepreneur is that the entrepreneur was willing to put up the money and the intrepreneur was willing to put up their time. You can be a part of a start up without taking the financial risk and get an education on how to run a business. You can also work on commission to see if you have the work ethic, mentality and self accountability it takes to succeed. At the end of the day, if you are going to start something, make sure it’s for the right reasons. I do want people to be inspired to follow their dreams, but I also want people to be smart about it and not take a financial risk for the wrong reasons. You don’t want to start something for the wrong reasons and end up quitting because you were just chasing money and hype. You have to know who you really are first and if you’re really capable of putting the capital, the work and commitment for your idea.

 

-Mike Ye