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Entrepreneurs anonymous

economist.com

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Re: Entrepreneurs anonymous

#71

Post by ThePhysicist »

As an entrepreneur I agree that our job is probably more demanding and stressful than your usual 9-to-5 in a big corporation, but I would never say that we have a hard life. Here's why:

- We have chosen this path ourselves, nobody forced us to run our own business and play the startup game.

- We are able to do something we love all day and possibly even make a lot of money doing so.

- We can decide ourselves how much we actually work and how we organize our life (even if most people pretend they can't).

- If our business fails, we can (mostly) just go back working in a high-paying job in industry.

That's not exactly what I call a hard life. If you think it is, you might wanna take a look outside your IT-/Silicon-Valley bubble, where many people get up every day at 5 am, work 12 hours in a job they don't like but can't quit because they need the money and still are barely able to make ends meet. To them, most of our "problems" would be luxuries to have.

Re: Entrepreneurs anonymous

#72

Post by [deleted] »

jasonkester wrote: post #65

It doesn't have to be that way. It certainly wasn't for me. The cool thing about running your own business is that you can run it any way you like. Yes, you can work 120 hour weeks, lose your wife, and have your heart attack at 45. But you can also work one 8 hour day per week, with a quick 10 minute email spin on the other weekdays, and spend the rest of your time enjoying your life. Both of those routes will get yo…

[deleted]

Re: Entrepreneurs anonymous

#73

Post by simonswords82 »

The Economist is one of my favourite magazines. Their rhetoric never waffles or glosses over issues. A good example from this article:

"Management literature is full of guff about how entrepreneurs should embrace failure as a “learning experience”. But being punched in the face is also a learning experience."

Re: Entrepreneurs anonymous

#74

Post by ggreer »

thegenius wrote: post #60
ggreer wrote: post #29

Earlier quoted context omitted.

I'm sorry some of your relationships suffered due to your success. I doubt I've been as successful as you, but some people have reacted similarly in my life. I think it can help to view some forms of envy as a mental illness.[1] It's not your fault they're behaving that way, so don't take it personally. If these people are important to you, keep trying to reach out. They might come around eventually. 1. It's importan…

I want to comment on this. While many people do envy Elon Musk, you're talking about the ones who admire him, and there is a big difference as you mention before that. I don't know why I'm wired the way I am, but I'm just not susceptible to envy--at all. However, I hardly think that most people successful or otherwise are like me. In fact, I'd say a good bit of successful people are so because of their envy. Envy is…

I guess we're using different definitions. By "good envy" I meant wishing you were in the envy-ee's shoes, or at least wanting to live a similar life. I agree that such sentiment can drive people to accomplish more than they otherwise would.

Re: Entrepreneurs anonymous

#75

Post by BSousa »

ChrisNorstrom wrote: post #34
thegenius wrote: post #23

Earlier quoted context omitted.

It wasn't so simple for me to tell myself that and feel better as I wish it were. For example, one of the people who won't speak to me anymore is a family member who was my biggest hero growing up and the reason why I got into computer programming. I was very angry that he stopped talking to me, and he gave me all sorts of excuses as to why, but his criticisms told the truth of what was really bothering him. Over tim…

Please, please please write more of this. This is one of the most fascinating things I've read. I've never heard anyone talk about this aspect of success before.

I'm not op, but will tell two stories that may interest you.

My cousin, mid 30's has FU money. Took him around 8-9 years of hard work (not in technology). He's the guy that buys a 5k rolex (or whatever big brand of watches) for fun. Last 'toy' he got was a 250k euro car for himself to drive maybe 1 month a year (he travels a lot). He is still an amazing person, tries to help people. He will have no problem spending a day with you trying to help fix a problem you may have. He will lend you 5k, no questions asked.

My parents try to badmouth him every time they can, and try to bring his accomplishments down at every party/gathering. From insulting his business partner to just saying he is an exploiter of people/resources/whatnot. I noticed his friends, behind his back do the same, even though he throws parties for them, welcomes them in their house, lets them use his pool even when he isn't there. The car I just mention before, he lets anyone drive it if they ask. But still, the envy is there.

On a smaller scale, my wife's family and friends. My wife decided to quit her job to raise our kid. I still work, but due a good amount of effort, I'm making a good amount of money. There is no need for my wife to work so we both prefer that she stays with our kid. We also live a decent life (near the beach, pool, etc) but not FU money like my cousin. The amount of flak she gets for our choices is just amazing. From her mother telling her she is kinda useless, to her friends making snide comments about getting a 'rich husband', etc. We never show off, we invite everyone to spend some time with us for free in the summer (saving them 1000's in holiday rentals and food), but still, I can feel the jealousy in them... Hard to explain completely.

I never thought this, but last few years what I noticed is in general, people are an envious bunch. A few are really happy for your successes, but most will resent you, because you are doing better than them, or 'showing' to them that some of the decisions they made in the past were the wrong ones, and they can't really come to terms with it, so it is just easier to excuse/criticise you.

Re: Entrepreneurs anonymous

#76

Post by idlewords »

rdlecler1 wrote: post #41

We suffer from strong survivor bias. Each day CrunchBase sends me a list of companies, most that I've never heard of and many that I can't understand how they're being backed, and it reinforces the idea that you can go out and build a great product and VCs will rain money down on you on your path to success. However these are the exceptions that prove the rule. Some advice from someone in the trenches. First, assume…

If you're awake at 4 AM because of anxiety about growth rate and lack of capital, make some hot cocoa and then thank God you don't have real problems.

I'm not saying this to be snide. Those problems feel real and scary enough. But as the other replies to this comment demonstrate, there is a vast spectrum of human misery that we live on the far end of.

Anything you can do to remain mindful of that will have the side effect of letting you sleep like a baby, even the night before the big investor meeting.

Re: Entrepreneurs anonymous

#78

Post by drvdevd »

vldx wrote: post #53
porter wrote: post #4

I used to encourage everyone I know to quit their job and start a company. Now, after having done just that, I no longer recommend this path. Not because I regret doing it. In fact, I think it was one of the best decisions I've ever made. But the road is, as the article says, about as romantic as "chewing glass." Sure, there are wonderful days when things are working even better than I had planned. But then there are…

In this context, I find Charles Bukowski's poem [1] "Roll the Dice" resonating. I love to re-read it over again from time to time and remind myself that it's a long-term plan and a massive grind. [1] Roll the Dice - https://vimeo.com/78472610 if you’re going to try, go all the way. otherwise, don’t even start. if you’re going to try, go all the way. this could mean losing girlfriends, wives, relatives, jobs and maybe…

This is great. Thanks!

Re: Entrepreneurs anonymous

#79

Post by tim333 »

throwaway8137 wrote: post #39
graeme wrote: post #30

Earlier quoted context omitted.

None of these sound like great reasons. I'm four years into starting a business. Here was my motivation: * A burning desire not to work for anyone else. * A desire, not to retire, but to free up time for all the other things I want to do. Chiefly learning. It is impossible to to convey, in writing, how badly I wanted these things. I had had a small taste of the working world, and couldn't bear the thought of it. I wa…

I think made a really wrong impression in that post. Somehow I can't really find the right words to express myself right now. While I understand the appeal of passive income, I think I would rather work 24/7 on something really meaningful. Your motives don't seem like mine. That is not necessarily a bad thing. There are many types of entrepreneurs.

Maybe try building something on the side in your spare time complimentary to the business you work for?

Re: Entrepreneurs anonymous

#80

Post by tim333 »

fractallyte wrote: post #69
iamshs wrote: post #33

I am also on the verge of starting a company, and it makes me afraid. More so, upon reading this thread. Looks like there are lot of entrepreneurs in this thread, so some advice maybe good for me. I have identified a pain point in a present system at my company, and since then got to know that this is a industry wide problem. My employer would not solve this issue, and would not give me permission to build it on my o…

Actually, this sounds like a non-problem. The most crucial first step is to change your frame of mind: you're not bound to any employer, and your personal time is entirely your own. Develop a prototype in your own time, get lots of feedback to improve it, and suddenly all sorts of avenues and options will be open to you. You could license it back to your company (for a price); if that's rejected, go somewhere else. I…

I think iamshs was saying " If I build the product in my spare time, my employer owns it as it is directly in company's field of operation"

Maybe iamshs could switch to another job, perhaps something a bit more part time without the non competes and build the thing on the side then?

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