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I Want to be an Entrepreneur!

January 31st, 2011 by Michael Tabor

http://www.youtube.com/watch?v=kjFgzfCs3MU

‘Working for a Living’ – Huey Lewis

You know what one of the worst things about being an employee for any given company is that you have to work for someone else. (Bob Dylan said it best when he nasally sang – ‘Everybodys’ gotta serve someone’ because the truth of the matter is even entrepreneurs have to be servile and obsequious with one’s customers if he or she is going to be successful; although you are your own boss.) How often do you hear people scream I hate my boss and I wish I had my own business? Ahhh the luxury of no one to report to and of being able to work whenever you please and logging in how many hours your heart desires; furthermore all the hard work and energy that result in profits is for you and your company and no one else. (But you and your company have to pay all the bills keep in mind.)

I have always had an entrepreneurial bone inside of me and always knew that I would ultimately end up someday with a thriving business sooner or later (This is my 3rd business venture and so far I’ve had my own businesses but I’m still waiting for the success part; I’ve also had numerous other business exploits such as trying to be an inventor to being a sports agent, promoter and many other pursuits which need no further mention.) despite the overwhelming odds at actually being successful (I know success is relative; I don’t need to be Mark Zuckerberg mind you to consider a business enterprise of mine as being a prosperous undertaking.) and the prodigious risk one takes when earnestly pursuing one’s own business.

Some individuals just can’t start a business simply because they have no money to invest. Every business venture requires an investment (even blogging) and enough money to live on until one sees the fruits of one’s labor come to fruition. The rule of thumb is different for every undertaking but your first year one wants to see that money can be had and you really want to just break even. Year two is where you may see some profits (minimal but nevertheless something) and after that it’s just anyone’s guess how big you may get; preserving no matter what, working 7 days a week and then eventually growing big enough to hire staff.

What amazes me is how few people are willing to take the risk; even people who have money;(which the sad truth reveals is really the single most important factor in determining whether or not your business will succeed. Note: see my ‘Rich get Richer and the Poor get Poorer blog’) don’t people want to stand out and set their own mark? Not that I am interested in the following so much, but the reality is unless you have your own business, own law practice, own medical practice, etc. you may reach that upper middle class tier; you may be the  top litigator in a firm but unless you’re a partner , you’re not and will never be wealthy. (I’m happy with middle class, not even upper middle class holds much appeal.) Exceptions to this rule are working for really good companies with stock options. And of course any CEO of a big company earns more money than he or she deserves.

Just to follow up on the last two sentences of my last paragraphs; those great jobs with great companies are not available. Those jobs are taken before they’re even posted. These sexy high paying jobs are held for rich people’s sons, nephews, nieces, daughters and are given to friends of people who have favors to be carried out. (There are exceptions I know that – ‘there are no absolute rules except that there are exceptions to every rule.’ But they are few and far between.

So that’s why I say if you can start your own business? Take a chance; so what if you fail, pick yourself up, learn from your mistakes and try again.  I find the biggest reason people don’t take the plunge is fear. People have no idea about how to begin, most people don’t even know to get incorporated. And the terrible irony is they don’t teach these things at business school; I think that instead of writing a thesis, the universities should require the student to start up a successful business. Throw them to the wolves – the real world. How often do you hear people say ‘I don’t use any of the stuff I learned in school, I learned everything on the job.

Lots of ink spilled on this so now it’s your turn. WHADAWETHINK? Would you want to have your own business? Those of you out there who do have your own business, what are the pros and cons? Do you have more free time running a business or less? Maybe you’re very conservative and love perhaps having the freedom of making a salary, working 9-5, and not having to suffer sleepless nights worrying about whether or not the business will make profit this quarter.

If you like this site and you want to support WHADAWETHINK – click onto the widget shown here and shop at Amazon. Note: Any purchase at all will help WHADAWETHINK, so you don’t have to purchase the exact product displayed in the ad. Thanks and keep coming back.

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The Rich Get Richer and the Poor get Poorer

January 13th, 2011 by Michael Tabor

http://www.youtube.com/watch?v=JkhX5W7JoWI

‘Money by Pink Floyd’

As anyone can clearly see I have just begun my blogging career. This is my 11th blog and everything seems to be going smoothly thus far. Within a month my blog will look completely different from a design perspective, with the aid of my Web designer. I had procrastinated for quite some time, despite the urging of those who were aware of my writing talents (I also majored in Journalism but instead of writing I spent my whole professional career as a recruiter or “headhunter”) because I knew before making the great leap, how difficult, risky and challenging the task would be abandoning my career and forging ahead with the slow, snaillike pace of blogging my way to fame or fortune. (Really I just want to earn a living)

I will get to the gist of the blog shortly, but I just want to mention how incredibly difficult, time – consuming and frightening this whole blogging affair is. Firstly, the learning curve is monumental. I thought I would just write and let everything else take care of itself. I’m pretty good at writing but not so good at Marketing and IT. Secondly, I thought that having published some decent blogs, I thought I might just start making some cash by now. (Boy I have a long way to go) Lastly, I wanted to take a look at my competition. I Googled the top blog in terms of traffic and saw that Huffington Post was #1 and to my great surprise I was taken aback at how prodigious and imposing the site is. She must have a staff of hundreds and here I am all by my lonesome doing everything from the actual writing (she has a plethora of writers), marketing and IT.

From there I did some research on Ms. Huffington and discovered that – now brace yourself here’s a shocking revelation – she married someone who had MONEY and a lot of it to boot. Michael Huffington, oil tycoon, exchanged vows with Arianna in 1986 and though admittedly she was a solid, legitimate journalist writing for the National Review and other conservative publications before she met “rich hubby”, her career really didn’t start to take off until she became financially secure. Allow me to interject some gossip – Michael and Arianna remained married for a decade and then divorced. Apparently there were some infidelities especially had by Mr. Harrington (not all affairs were with individuals of the opposite sex), shortly after the divorce he revealed that he was bisexual. (I have some thoughts about bisexuality; either you’re heterosexual or gay, – another blog).

Here is the point of the whole blog. The single best way to get rich and richer is to be rich. I am poor and life, as other financially challenged people will declare, is a ceaselessly upward struggle. (I am very rich in other ways – good friends, family, knowledge, etc) Wouldn’t it be nice to begin my blogging career with a whole staff of writers, Marketing professionals and IT Specialists and bundles of coinage, ensuring I get the best and the brightest. Quality and quantity. Now I am fortunate enough to be not so destitute that I can’t afford a computer & have the financial wherewithal to absorb the minimal expense to start blogging. But ……

Now there are of course exceptions to the rule – there are no absolute rules; the only absolute rule is that there are exceptions to every rule. I will add a 2nd. Which is The Rich get richer and the poor get poorer!

Now it’s your turn people. WHADAWETHINK ?     I think this is another no-brainer.

P.S. – 2 ways to get rich: 1. come out of the right womb and 2. Marry rich.

If you like this site and you want to support WHADAWETHINK – click onto the widget shown above and shop at Amazon. Note: Any purchase at all will help WHADAWETHINK, so you don’t have to purchase the exact product displayed in the ad. Thanks and keep coming back.

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