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Old July 30, 2010, 09:37 AM
Conrad Conrad is offline
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Join Date: Jul 2010
Posts: 24
Default Re: Entrepreneur's Goal #1 -- Finally SOLVE "The Money Thing"...

Well said.

With this realization, I am sure you are on your way to independence.

Conrad

Quote:
Originally Posted by -TW View Post
This is an offshoot of the "800-pound gorilla" post...

Keeping in mind Michael Gerber's mantra (The E-Myth, etc.) that there's a GIANT difference between the 'self-employed' and REAL *entrepreneurs* (they are SO different, they are mutually exclusive!), I believe (as mercenary as it sounds) the PRIMARY (only?) goal of an entrepreneur is to get to the point of 'critical mass,' financially.

WITH OR WITHOUT the 'do what you love' philosophy!!!

The profit motive is the ONLY motive (keeping one's morals too, of course -- no cheating, lying, stealing, etc.).

The overall goal is SOLVE "THE MONEY THING" ONCE AND FOR ALL!

I believe that to be a perfectly LEGITIMATE goal.

The things ("machines") an entrepreneur sets up should work for the entrepreneur, like any other real machine does. It should be set up so the machine works for the entrepreneur and not the other way 'round!!!

The goal is to get to the point where the entrepreneur himself is completely factored OUT of the equation -- the $$$$ flows in AUTOMATICALLY.

That's the biggest difference (as I (+ Mr. Gerber) see it) between a REAL entrepreneur and a self-employed person. The latter is constantly trying to FILL his 'dance card,' whilst the former is constantly trying to figure out ways to EMPTY his dance card!

So, what I'm saying is, take a long hard look at the 'entrepreneurial' things you're involving yourself in. Are they getting you closer to being a REAL entrepreneur? Will they ultimately allow you to completely ***COAST*** financially?????

What I'm now finding is, the answer is usually NO!

Here are the main flaws in the so-called entrepreneurial 'opportunities' I see around me...

1) Too low-level, and will never LEAD to high-level (there's no link or portal between the two worlds).

2) NOT truly entrepreneurial. The opportunity cannot be made to be self-sustaining, self-running -- does nothing more than give the so-called entrepreneur a(nother) JOB. That is, self-employed, NOT a REAL entrepreneur.

3) Too small scale. Does pass test #2 (above), but will not yield enough $$. Not quite the same problem as #1 (above). One is LEAGUE (small-time vs. big-time), the other is scale -- too little $$ vs. lots of $)

What I'm saying is, DON'T "STEP IN IT!" Before you climb the ladder, take a very hard look at where the TOP of the ladder leads! Don't attempt to climb short ladders!

Open your eyes (as I have).

Don't get DELUSIONAL about how tall the ladder is!!!

It's all too easy to get caught up in a sub-sub-sub-sub culture like the one this forum encourages, and start GLORIFYING SHORT LADDERS.

It's a trap -- And there;s nothing wrong with getting trapped in it, as long as you KNOW you're doing it -- as long as you're AWARE!

I'm 48, and I am NO CLOSER TO BEING ABLE TO COAST (financially) than I was when I was 18 -- If anything, I am MUCH FURTHER AWAY from being able to coast, financially.

I remember hearing a story about Dan Kennedy. Yes, the great + powerful Dan Kennedy, the very same. He was giving a seminar at a hotel meeting room -- telling business people how to make much more money using his marketing techniques. While giving his talk, he was able to look out over the heads of the eager attendees, through the window, into the parking lot. He found himself in the amazing position of having to give the seminar WHILE WATCHING HIS CAR BE REPOSSESED (TOWED AWAY) IN THE PARKING LOT.

All I'm saying is, be very discriminating about which ladders you climb.

1) Are you striving for REAL *entrepreneurial* goals (NOT *self-employed* type goals)?

2) Will the ladder you're climbing REALLY bring you there?

From what I've seen, most people would have to answer NO to BOTH questions -- and the answers matter more and more as you get older!

Cheers(?)

-- TW
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