Episode-2162- Can Anyone Be an Entrepreneur – It Depends

I recently got this question and realized at once this was a show topic not a show segment.  It is a complex question and like most such questions the answer is, it depends.

Let’s look at some other seemingly simple questions on the topic to start peeling the onion as it were.  How about this?  Is being an entrepreneur hard?  Well it also depends, on many things like.  How large do you want the business to be? What experience do you have?  How gifted are you?  Is this a side hustle or a full time business?

Now that should start to paint a picture for you, the answer to “can anyone be an entrepreneur”, is a definite yes with a lot of caveats.  Let’s answer a similar question to see how this works.  How about, can anyone be a basketball player?  The answer is clearly yes isn’t it, there is even wheelchair basketball leagues.  I would say if you can move and use your arms you can be a basketball player.

But can anyone be an NBA basketball player?  Can anyone be good enough to play college ball?  Can anyone and everyone make the high school team?  We can easily answer that with no, no and no.  There are only so many spots at that level and talent decides who gets them.

But anyone can get some buddies together and start an after work league, if you play basketball you are a “basketball player”, right?  With entrepreneurship there are even more opportunities, there are niches upon niches within other niches.  So the question isn’t can you be an entrepreneur, rather these questions you must answer to determine your path…

  • Do you want to be an entrepreneur?
  • Do you have any specialized knowledge or skills?
  • Do you have or are you willing to create the necessary time?
  • Is there something you are passionate about that you can leverage?
  • If you can’t do what you are passionate about right now, are you willing to do something to simply learn and earn?
  • What sacrifices are required and are you willing to make them?
  • How would you define success in your venture?
  • Does/will your family support you in this effort?
  • How badly do you want it compared to what you will get if you succeed?
  • Are you kidding yourself?  (mental masturbation)
  • Why are you not already doing this?

Today I will discuss these questions and ideas and concepts around them.  I will not answer them though for anyone other than myself.  I am not the guy who tells you to stand in front of a mirror and say, “I’m great, I’m wonderful and everybody likes me“.  Rather I attempt to give you a way to examine a path for yourself and determine if it is the right path for you.

Resources for today’s show…

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6 Responses to Episode-2162- Can Anyone Be an Entrepreneur – It Depends

  1. “It’s like being a paraplegic lap dancer. You can do it, just not as well as the others, really.”

    Robin Williams

  2. Will be listening to the complete show tonight, just scanned the show notes above and decided to add my observations in life on this topic.

    I think I have observed that people with high IQ have a definite advantage in life and in entrepreneurship too.

    However I have saw many high IQ guys fail in life often due to alcohol, fast vehicle crashes or other misadventures and bad divorces from crazy women etc.

    I have also saw many middle or low IQ guys do very well in life by being steady, consistent and simply good and reliable workers who looked after their health.

    It’s sort of like an expensive sports car will generally out run a tiny small car, yet many fast sports cars end up in the breakers yard long before their time while small well looked after cars can last decades and clock up huge miles.

     

     

    • Modern Survival

      However I have saw many high IQ guys fail in life often due to alcohol, fast vehicle crashes or other misadventures and bad divorces from crazy women etc.”

      High IQ, Low IQ, mid range, etc. the above destroys more successful men than any other combination of things, though I would say drugs and simply include alcohol in the mix.

      And divorce from the vindictive/crazy is about as bad as it gets for ruining your life.  While I don’t endorse the MGTOW movement I sure as hell understand it.  In a divorce EVERYTHING is stacked against the man.

      I have seen men end up with alimony, child support, losing the house, plus being ordered to provide full health care when it was shown and accepted that the man never abused his wife, never cheated, etc.  And on top of it it was shown and accepted that the woman engaged in multiple acts of infidelity over many years with many partners.

      It was different when Dorothy and I got married, I guess I am getting old.  But if I was a 20 something today, I would never get married without an IRON CLAD prenuptial agreement.  Any woman that didn’t understand why, I’d know right then I don’t want to marry her.

      As for drugs, alcohol, fast cars, etc.  Success gives you freedom and not all freedom should be exercised to the full extent possible.  All of the sudden you are free to hit the bar at 3PM, you never think about spending money because you have plenty etc.  You have to rein it in or yea it will kill you, slow or fast but one way or another it catches up to you.

  3. High school drop out. Work my but off in mostly successful businesses. Pulling in over 500 k a year myself online currently. Had to stop making more money do to taxes and well me not willing to work for the IRS 40% of the time. I’m actually this year trying to again make less it’s a battle. No one gets it. If I make less I have more freedom and less tax. Think about what you wish!!! It’s not all good. Money is a problem. Just my quick 2 cents .
    Thanks

  4. Shows like this are one of the reasons I’m happy to support the MSB. Jack’s perspective, insights and stories in this one are “gold.”

    I’ve heard that “you don’t get what you deserve in life, but what you negotiate.”

    This episode brought that message home.