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Five Reasons for Startup: Wealth
The Lottery, Your Career, Investment vs Revenue, Foundation First, Don't Blow It
So you want to get into startup for the money. I get it. I'm not going to waste your time debating the merits of capitalism, morality, ethics, or throw a bunch of biblical tales at you. I actually admire your ambition. But there are some things you need to know.
Wealth is a legitimate reason for becoming an entrepreneur. As I discussed in the last installment, startup is full of unlimited possibilities, and in a lot of ways, startup makes it easier to get to where you want to be financially, once you throw out the conventional timetables and status symbols of the traditional American dream.
On the other hand, it's never easy to make money with startup, especially at first. Because unlike the corporate path, your mistakes won't get covered, you can't coast, and there's no large organization to get your back when your own personal results flag or you hit a slump.
And it's expensive to get your business to a point where the money coming in is both recurring and something you can count from month to month and year to year. That expense equates to either money out of your own pocket (or someone else's pocket who you'll have to repay before you get paid), or time, during which you won't be getting paid very much if at all.
But except for those two points on the near and far end, the rest of the Wealth equation for startup looks a lot like the Wealth equation for anything else. Work hard. Be frugal. Plan right. And if you're chasing startup only to chase Wealth, I mean, if you're chasing anything only to chase Wealth, you're probably headed into a world of hurt.
So don't do that.
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The Show: Episode 1.1 -- You Can Bleep That Out, Right?
Introducing Teaching Startup: The Show, a different way to bring startup and entrepreneurship to everyone.
On The Show, we talk about startup without droning on about startup. Sure, we talk about startup, in fact, we do that a lot, and you'll definitely learn something. But we also talk about stuff that's far more interesting.
Pop culture? Of course. We don't do our jobs 24/7. Neither should you.
Sports? Yeah, look at us. It's in our DNA.
Parenting? No better way to learn about being an entrepreneur.
Humor? If you're not laughing, we're not doing our job.
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