Entrepreneurial spirit

I speak to people everyday who have a dream of someday owning a business. In asking them why, they usually have a variation one of three answers.

1. I want a better life, more money, more freedom, more control over my life.
2. I want to make a difference in the world, help people, do some good.
3. I want to create a legacy for my children.

Not everyone is cut out to be an entrepreneur. The days I get scared, I wonder if I am a real entrepreneur.  But if you are thinking about becoming an entrepreneur, there's only one thing you need to ask yourself.

Do you want to own a business for the commission or for the mission?

Money is a result of a job done well.

Not all businesses make money. 85% of businesses fail within the first five years.

The risk associated with owning a business is high. It's so high that you should make above average returns if you find success. But most don't. 85% of businesses fail in the first five years. Translated, 85% of business owners go broke.

So if you want a commission, go get a good sales job. It will pay you above average as you get better in your skills. And the potential of going broke is much lower than working for yourself.

The most money I ever earned on an hourly basis was 10 years ago, when I still had a corporate job. Working for myself produced less results on an hourly basis. I worked harder. Took on more risk. Was more stressed out. And didn't take care of myself.

But I loved it. I was alive fighting in the trenches with the team everyday.

That's the only reason I know I am an entrepreneur.

There are days, I think to myself, that a nice steady paycheque would be nice.
There are days, I worry about that next big thing.

But I keep going. Making less money than I have ever done before. But knowing that I'm doing the right things for the right reasons.

Eventually this hard work will pay off.

Someone asked me yesterday if I was just sitting home doing nothing. I can see how it looks that way to her.

I replied with, "Every morning I get up and dig a few holes, looking for oil. One day, I'll find some. I don't know when and I don't know where. But if I keep digging consistently, I know I'll get what I'm looking for."

Entrepreneurship is scary, even for those who have done it before. It's risky. It's challenging.

If you like getting on roller coasters, then maybe entrepreneurship is for you. If you like steady as it goes, don't get on the ride.

But you have to have a mission. You have to stand for something and it can't be about how much money you want to make.

If you want to be an entrepreneur for money, keep your job.