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Entrepreneurs anonymous

economist.com

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Re: Entrepreneurs anonymous

#11

Post by fapjacks »

Maybe it's my own history and previous life path, but starting a business with a best friend has been one of the mots natural and fun things I've ever done. There are obstacles, and I'm sure the road is rough going for a lot of entrepreneurs, but... This has been the best kind of work I feel that I will ever do, with respect to my own life goals. It takes a certain type, certainly.

That being said, and as a print subscriber to The Economist, I was a bit overwhelmed by this article, which reads like propaganda or cult literature. What I do is hard work, sure, but society doesn't owe me respect for all my hard work (and sympathy for my sacrifices) anymore than they owe farmers or factory workers. And definitely not as much as the guys working on the garbage trucks.

Re: Entrepreneurs anonymous

#13

Post by Kaihuang724 »

wsr wrote: post #12

As a fellow serial entrepreneur, it seems to me that between success, sleep, and living the life, you can only pick 2 out of the three.

I hope "living the life" means living how you want it and not really the traditional notion of living luxuriously. I personally want to start a business to have an impact and to build something other people want to use. That would be living the life for me, regardless if I'm sipping Pina Coladas on the beach by noon.

Re: Entrepreneurs anonymous

#14

Post by acgourley »

porter wrote: post #10
acgourley wrote: post #8

Earlier quoted context omitted.

When people ask me if they should start a company, I do a short interview with them to understand their motivation. It's usually dissatisfaction with their job combined with a grass-is-greener view of entrepreneurship. I believe in many circumstances people have a higher chance of finding happiness by pouring deliberate energy into finding a great job rather than starting their own company.

I quit a good banking job after making it through the recession and several rounds of layoffs. My friends thought I was nuts. I had friends take me out to lunch and tell me most people were looking for jobs, not quitting them. But I didn't quit just because I was dissatisfied. At the heart of it, I just felt like a caged animal and I knew I had to break free.

I don't regret taking the leap, but I also didn't need to be convinced nor did I carefully ask people what they thought. It's sort of something that needs to be done because you're the right kind of crazy.

Re: Entrepreneurs anonymous

#15

Post by wuliwong »

The implication that this gentlemen became an alcoholic because he quit his corporate job and became an entrepreneur seems pretty far fetched. The guy was probably either already an alcoholic or didn't actually become one. There's a huge difference between drinking to cope with stress and drinking because you are an alcoholic. The latter needs no stress to cause him/her to drink.

Re: Entrepreneurs anonymous

#16

Post by jboggan »

This is a welcome article to read this week. I'm in the process of winding down my abortive startup and fielding a lot of questions from confused friends who think I'm just months away from giving them a ride on my yacht. The reality is much, much different. I look forward to having a fulltime job again and having time for music.

Re: Entrepreneurs anonymous

#18

Post by paintnp »

My standard advice to folks with corporate jobs who want to venture out on their own is this- hire a couple of guys to vet out your idea. Get the product market fit right, get the MVP done and have someone start talking to potential customers while you are still making a salary. If it is difficult to set aside $5K-$8K per month for this while you are working, it'll be significantly harder once you are not bringing in anything. One of the biggest lessons for me when I did my own start up was that no one else is on the same timeline as you are. They go on their long holidays while you are refreshing gmail every minute to see whether they replied to your email. All the while, you are trying to survive on whatever you have in your diminishing bank account. Age also is a definite factor. If you are in your early twenties and used to surviving on $1500 of research assistantship from university, it is much easier to take random bets. You'll only learn from them. Once you are beyond a certain stage in your life, the equation totally changes.

Re: Entrepreneurs anonymous

#19

Post by richardjordan »

wuliwong wrote: post #15

The implication that this gentlemen became an alcoholic because he quit his corporate job and became an entrepreneur seems pretty far fetched. The guy was probably either already an alcoholic or didn't actually become one. There's a huge difference between drinking to cope with stress and drinking because you are an alcoholic. The latter needs no stress to cause him/her to drink.

I don't think you're correct here.

The stresses of being an entrepreneur take a tremendous toll and given the risk-taking nature of the condition (entrepreneurialism) I absolutely see those stresses lead to dangerous and addictive behaviors in those who follow an entrepreneurial path - whether it's drugs, drink, sex or gambling I have seen all behaviors triggered in individuals.

The absolutism of your position on what does/does not constitute an alcoholic and what triggers the behavior is misplaced.

Re: Entrepreneurs anonymous

#20

Post by cageface »

porter wrote: post #10
acgourley wrote: post #8

Earlier quoted context omitted.

When people ask me if they should start a company, I do a short interview with them to understand their motivation. It's usually dissatisfaction with their job combined with a grass-is-greener view of entrepreneurship. I believe in many circumstances people have a higher chance of finding happiness by pouring deliberate energy into finding a great job rather than starting their own company.

I quit a good banking job after making it through the recession and several rounds of layoffs. My friends thought I was nuts. I had friends take me out to lunch and tell me most people were looking for jobs, not quitting them. But I didn't quit just because I was dissatisfied. At the heart of it, I just felt like a caged animal and I knew I had to break free.

The thing I've learned from trying to be independent for four years is that you always have to answer to someone. Whether it's a boss or customers or business partners or the platform provider you depend on you are never truly "free".
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