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Should have been a flag!🤬
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If you’re young and single or don’t have people relying on your income, this is the time to try. Once you have obligations, it becomes increasingly more difficult.
P1 is right. My experience is that professional jobs like ours are “get moderately rich slowly” schemes. This translates into saving very little money in your 20s (because pay is low); saving very little in your 30s (because pay is still low and your life expenses spike up), saving quite a bit in your 40s (pay spikes and life expenses hold steady), saving a ton in your 50s (pay stays high and life expenses fall). Here’s the trick — give entrepreneurship a try early, surround yourself with people who have real business experience (you’re smart, but experience is “smarter” than you, so listen to it!), and set a go/no-go in no more than 2-3 years. You will know that fast whether your ideas are any good and whether you are any good at building/running your own business. Most people aren’t. If you’re not, declare failure early and get back on the professional track, with a valuable real life experience that will make you a better advisor. The disaster scenario is staying with a struggling/failing entrepreneurial attempt too long. There is no amount of iq and hard work that can save a flawed business idea.
^or just try a bunch of ideas. An acquaintance of mine had two failed startups before he had an idea that hit ($100M exit) and his forth startup (Skillz) is the fastest growing company in America.
(cont.) saw entrepreneurship, problem solving, and of course money making in full bloom. In 2 minds now: stay in the fluffy world of consulting where there’s money and a comfortable life or try to build something to solve actual problems and be prepared to struggle ?
ATK1 has it. Take risk now. It’s almost impossible to take risk when you have 3 kids and a mortgage...
ATK1 - Absolutely agree. Great post
D1- very cool, my friend left deloitte to go to skillz, he seems to love it there, I was thinking of joining later.