I don't want to become an entrepreneur. I don't care much about getting rich, starting my own business, or something like that. Is that wrong?

Updated on : December 4, 2021 by Ruby Holmes



I don't want to become an entrepreneur. I don't care much about getting rich, starting my own business, or something like that. Is that wrong?

Not at all. There's something called a "cash flow quadrant" (it's a book) that describes where most people fall.

It breaks it down like this.

Self - employment
own
business systems
investment.

You probably already know the first one, but the others, in my opinion, take a slightly different mindset. Freelancers, which is the majority of contractors, cannot leave their job (employment) to go on vacation for a week or two. You can't really get sick either. Clients really don't like it when you can't be available to them. Unless you have a partner who can replace your free time. This is where most entrepreneurs

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Not at all. There's something called a "cash flow quadrant" (it's a book) that describes where most people fall.

It breaks it down like this.

Self - employment
own
business systems
investment.

You probably already know the first one, but the others, in my opinion, take a slightly different mindset. Freelancers, which is the majority of contractors, cannot leave their job (employment) to go on vacation for a week or two. You can't really get sick either. Clients really don't like it when you can't be available to them. Unless you have a partner who can replace your free time. This is where most entrepreneurs start and stay.

Commercial systems. you basically run a system where you don't need to be there every day. Richard and Maurice McDonald of McDonald's fame is a good example, and Ray Crock recognized it and "exploited" it to make billions. This is harder to break and requires a tougher stance and often uses a lot of legal jargon to protect yourself. You probably have at least one person capable of managing working with you or "under you" to make things work. Can you trust the right person not to screw you? (Most people wouldn't btw)

Investment. There are a lot of laws around this, and it needs to be someone who can read the financial status, goals, and market trends to get it really right, and that's just the beginning. I remember reading an article about Warren Buffet a few years ago. You wake up at 5 in the morning and start reading anything about the financial reports that interest you, until you go to bed at night. All this while holding the meetings you need to hold. This is of course just an example and an extreme one. Elon Musk should be something like that. Can you exercise this type of "interest" or "work" without losing interest for 5 or 10 years? How about 50? Sounds exhausting, right?

Not wanting to get out of the first and foremost quadrant is not necessarily a bad thing. Just make sure you know their limits.

Starting and running a business generally requires a lot of work and the risk of losing everything. There are many more workers than business owners.

My ex-wife was a manager in a start-up branch for an out-of-state company. She hired me in my last year of college. (She is a little older than me). I worked hard and quickly became an indispensable part of the local team and also at the corporate level. After about a year and a half, we started coming out in depression and finally got engaged. A few months later, the owners of the company realized that they were growing too fast, they were in the

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Starting and running a business generally requires a lot of work and the risk of losing everything. There are many more workers than business owners.

My ex-wife was a manager in a start-up branch for an out-of-state company. She hired me in my last year of college. (She is a little older than me). I worked hard and quickly became an indispensable part of the local team and also at the corporate level. After about a year and a half, we started coming out in depression and finally got engaged. A few months later, the owners of the company realized that they were growing too fast, they were over their heads and decided to sell our branch. As a fresh out of college with no assets and some student loan debt, I had nothing financially to add to the equation. She pledged all her assets to secure a bank loan for the purchase,

He closed the deal less than a week before we were married. Ten years later (2008), the financial crisis coincided with our decision to divorce. He had no interest in taking responsibility for the property of the company, which had no value on paper anyway. I agreed that she would keep the company and consider it worthless since we were dividing up the marital property. In reality, at the time, he regarded the company as a financial liability and did not want to be part of the ownership.

We had an amicable divorce and agreed that from a business perspective we would both be better off if we could continue a positive professional relationship rather than leave the company and become a competitor. So I stayed as the technical director of the company. We struggled for several years as the business was closely linked to the success of the real estate and banking industries. For a few years, the business had one foot in the grave and the other in a banana peel. If the business had failed, he could easily have gotten a job in a few days. My ex wife would have lost everything.

Fast forward to 2017. The company is now enjoying great success, posting record sales and profits. The projections for 2018 look even better. I have a good job and a good salary and benefits. I don't have to worry about losing the substantial equity that I have built up in my home, my savings, and some rental properties after the divorce.

If we continue on this path, my ex-wife will retire as a very wealthy woman in about five years, and I will retire (a few years later) comfortably.

Looking back, I wouldn't change a thing if I could.

I have had a good chance at a comfortable life. My ex-wife risked everything and faced the stress of a business owner. She deserves the reward that I believe and hope she will get.

There is nothing wrong with being a good employee without ownership aspirations. I'd feel the same even if I worked for "some guy" all these years.

I don't want to deal with the risk and stress of owning a business. I am good at what I do, I will never be rich, but I am happy with my decisions. If I helped someone who took risk and stress to retire with wealth, I'm happy with that, happy that my risk-free job gave me a good life and helped the risk-taker earn their due rewards.

What a great admission. Not bad Our personalities determine if we should let someone else lead, or if we take the reins and the risks.

I know many people in all walks of life who chose stable security. Teachers, medical specialists, the military, and tech jobs all have positions that allow them to work in a defined format so they can focus on what they are good at and what they enjoy.

Someone throwing the word entrepreneur ... usually it is something driven by image that is intended to impress you, the listener. Or they think they can just do a start-up and their business will rain cash. Six

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What a great admission. Not bad Our personalities determine if we should let someone else lead, or if we take the reins and the risks.

I know many people in all walks of life who chose stable security. Teachers, medical specialists, the military, and tech jobs all have positions that allow them to work in a defined format so they can focus on what they are good at and what they enjoy.

Someone throwing the word entrepreneur ... usually it is something driven by image that is intended to impress you, the listener. Or they think they can just do a start-up and their business will rain cash. Six out of seven startups fail in the first year, resulting in long-term bad credit, loss of collateral, and investor lawsuits, etc. Overconfident college business graduates lead the business bankruptcy line. Or retired parents lose their savings for supporting junior the 'genius'.

You are smart to be realistic and honest with yourself. What we do, any of us, our choice should not be a vague business dream. I became an entrepreneur because I wanted to produce a better end product in a field that I had already selected. From there, success and setbacks taught me to develop other profitable ventures that interested me. I didn't wander around embracing high-brow aspirations.

What you do for a living should be an area of ​​interest for you to easily explore your choice and learn willingly. A person fascinated by beautiful events can be perfect as a wedding or party planner. Someone who buys houses that they cannot yet afford would become real estate. Even my certified public accountant told me that he was balancing his parents' checkbook at age ten. Go your own way. There will be some studies involved, so it's best if we really like what we select. I wish you the best of luck, but frankly, you are already ahead of much of the future workforce.

Enjoy.

No, different people have different priorities, for some or most people they have a conventional notion of what is success, career, money, house, car, partner, etc.

Most of this addresses social status within conventional and animal psychology, there is great social and societal pressure to achieve these things.

If it's not for you and many who understand this, it isn't (pursuing those things for conventional reasons, also known as admiration and envy of others, seems to be more of a needy and insecure character flaw than a worthwhile investment of life and time.) then you are

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No, different people have different priorities, for some or most people they have a conventional notion of what is success, career, money, house, car, partner, etc.

Most of this addresses social status within conventional and animal psychology, there is great social and societal pressure to achieve these things.

If it's not for you and many who understand this, it isn't (pursuing those things for conventional reasons, also known as admiration and envy of others, seems to be more of a needy and insecure character flaw than a worthwhile investment of life and time.) then you really need to understand why this is so, as you are likely to be confronted frequently and you own your life choice, this is not easy because many will deal with your rejection of almost everything that they appreciate or aspire to as almost a personal attack or they will rationalize that it is not possible that they are wrong and that you must be lying to cover up that you simply do not have what it takes to achieve what they have and that you must be really bitter and envious. indoors or something like that.

Regardless, you should give it some thought, get to know yourself and all that, and good luck.

Back in the 80's I was debating whether or not to start my own business. I was ambitious but I was worried about the risks and what would happen to my family if I tried and failed. I heard an interview with actor Michael Caine. The interviewer commented on Mr. Caine's crazy lie. He replied, "When I'm 80, I want to regret the things I did, not the things I didn't do."

That answer made perfect sense to me. It was one of the things that inspired me to keep going. It has been a difficult road. We have had great setbacks ... but also great successes. It is not the right path for everyone. I'm 70

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Back in the 80's I was debating whether or not to start my own business. I was ambitious but I was worried about the risks and what would happen to my family if I tried and failed. I heard an interview with actor Michael Caine. The interviewer commented on Mr. Caine's crazy lie. He replied, "When I'm 80, I want to regret the things I did, not the things I didn't do."

That answer made perfect sense to me. It was one of the things that inspired me to keep going. It has been a difficult road. We have had great setbacks ... but also great successes. It is not the right path for everyone. I am now 70 years old. It was the right decision for me because I would have regretted not trying. Ask yourself if you will look back and regret not trying. If you think it won't, it's probably okay for you not to try.

Not everyone is cut out to be one, so NO ... not bad at all.

And please understand, as my only friend who has generated over $ 3 BILLION in revenue between himself and his clients explains, ...

An entrepreneur is typically / usually someone who starts a business, grows it, franchises it (to franchisees), sells it.

They have a lot of freedom to do with the systems they have installed.

Someone who owns a business and works for it rather than for it is simply… a business owner. When they are not in business, it does not work well. They need to be there, on the spot, spending countless hours.

Absolutely wrong. Yes, the truth is that we cannot all be entrepreneurs, but look at the essence from this dimension. What can I gain if I become an entrepreneur? I think that should be your focus. Number one, it gives you freedom. Freedom for what? Freedom to determine how far you will go in life. Freedom to determine how to spend your time. Freedom to contribute to your nation's economy. Freedom to put food on the table of several people that you probably would not meet in life, but because they work for you or in your business. And indeed freedom for creativity.
The ability to think freely is you

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Absolutely wrong. Yes, the truth is that we cannot all be entrepreneurs, but look at the essence from this dimension. What can I gain if I become an entrepreneur? I think that should be your focus. Number one, it gives you freedom. Freedom for what? Freedom to determine how far you will go in life. Freedom to determine how to spend your time. Freedom to contribute to your nation's economy. Freedom to put food on the table of several people that you probably would not meet in life, but because they work for you or in your business. And indeed freedom for creativity.
The ability to think freely is your pedestal to a life of abundance that you are sure to enjoy as an entrepreneur. Think about these things. Try to be an entrepreneur, you will never regret

Join the club! They pay me an hourly rate, which is not the entrepreneurial way or to get rich, but it is high enough to enjoy a good lifestyle, not be stressed, and in fact they pay me to do my hobby.

My children will receive an inheritance, although it will be what remains after my wife and I enjoy our retirement (whatever "retirement" means, probably just by reducing the hours).

I have the knowledge and insight to be an entrepreneur (actually I have a business for tax purposes, but I don't have non-family staff), but not the drive (well, I'm lazy), nor the desire to get involved in it. " Who dies with

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Join the club! They pay me an hourly rate, which is not the entrepreneurial way or to get rich, but it is high enough to enjoy a good lifestyle, not be stressed, and in fact they pay me to do my hobby.

My children will receive an inheritance, although it will be what remains after my wife and I enjoy our retirement (whatever "retirement" means, probably just by reducing the hours).

I have the knowledge and insight to be an entrepreneur (actually I have a business for tax purposes, but I don't have non-family staff), but not the drive (well, I'm lazy), nor the desire to get involved in it. " He who dies with the most money wins "race.

First of all, thank you for being honest with yourself. While most entrepreneurs may want to initially seek the entrepreneurial route to financial gain, those who stick with the various ups and downs do so because they have encountered a problem that they are passionate about solving.

My advice is to keep going and don't think that it starts or ends as a business owner. During your journey, you can find your calling and, if you find it, explore it ...

Quite the opposite.

Even though being an entrepreneur is currently going through its "cool" phase (hence all the applicants), the fact is that owning a business sucks a bit.

It is difficult, stressful, and often depressing. You really have to WANT IT, and learn to love the process, sleepless nights and all.

It's not for everyone, and to be honest, it's more likely to discourage people from doing it than not unless you think they're a perfect fit.

Not particularly, becoming a businessman / businesswoman is hard and difficult work. Only the best rise in that field of work, so (no offense intended), but you probably won't start a big business like Apple or Disney. As for being rich, I find that most rich people have more problems than the other 99%, so as long as you keep your head above water, having a lot of money is not that important.

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