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The value of entreprenuership👨🏭
Welcome to Wisdom Letter #115.
Last week we spoke about side projects.
I think they are a gateway to entrepreneurship. But most people don’t think they need to be entrepreneurs.
They are happy being employees.
Are you one of them?
Today I would try to change your mind.
There’s nothing wrong with being an employee, except that full-time employment doesn’t mean what it used to 50 years ago.
The cons far outweigh the pros.
Today we want to talk about the value of entrepreneurship.
But first, if you’re new, please signup to The Wisdom Project, we send one email per week that helps you become healthy, wealthy, and wise :)
Now, let’s go👇
The Value of Entrepreneurship
This newsletter has been a pursuit of wisdom for us over the last 2 years. And in this pursuit, we have researched and written about a range of topics.
Topics ranging from sports, politics, economics, religion, self-improvement, behavior science, and of course happiness.
Here’s the thing - the “wisest” people we found weren’t employees, they were all entrepreneurs.
They weren’t spending their time working on someone else’s vision, they were creating something of value in their own vision.
They shaped the world in their own image.
And it isn’t a coincidence.
After doing side projects for a while, you realize that creation is so much more fulfilling than consumption.
Being able to build something out of nothing is one of the most enriching experiences in life.
And to do it at your own terms, in your own vision, at your own pace is just amazing.
The “wisest” people realize this at some point in their life. And started their entrepreneurship journey.
They understood the value of entrepreneurship.
Today, in 2021 the cost to entrepreneurship is the lowest it has ever been.
Here’s how -
Employee vs Entrepreneur
The case for working for yourself
Today, if you’re doing knowledge work, and you’re an employee - your biggest concern isn’t where your next meal is coming from, it’s where your next holiday is coming from.
And how do you answer the nagging question of - what does it all mean, what is the purpose of my life, why am I here.
In Maslow’s pyramid of needs, you’re pretty high up -
(Don’t worry, even if you think you don’t have a ton of money, it can be managed. A bit of personal finance wisdom can take care of your money needs for a significant amount of time.)
At no point in history, have so many humans been so close to the top of the pyramid as they are now.
Also, at no point in history has it been so easy to do what you want and make a living off of it.
This is what entrepreneurship means today - doing what you find interesting, serving a community of people you like, and making enough money to fund your lifestyle.
Let me break it down -
Doing what you find interesting. (Being good at it)
Serving a community you like. (Solving a genuine problem for them)
Making enough money to fund your lifestyle (And managing that money well)
If you have a decent job, your employer has solved this equation for themselves. So much so that they could start hiring smart people like you.
You just have to learn that process from your employer and apply it to yourself.
Today, to be an entrepreneur you don’t need to import shoes from Japan like Phil Knight, or start a luxury airline like Richard Branson, or make rockets like Elon Musk.
All you really need is an internet connection and some conviction in your abilities.
The case against your job
You think your job is safe and stable, and you should keep doing it for 40 years like the previous generation.
But here’s why it doesn’t make sense to keep working a corporate job -
It’s no more 40 hours a week. (Work always overflows and armtwists your personal life)
It’s no more ‘safe’. (Your employer won’t think twice before firing you when it has to)
The pay and appraisal isn’t tansparent (Every office has story of backstabbing bosses and manipulative co-workers)
The costs of working a full time job far outweigh its benefits. More today than any time in human history.
I advocate for entrepreneurship so strongly because I am witnessing its benefits first hand.
And I was in a corporate job just 3 months ago, so the memories are still fresh!
But it took me 3 years to prepare for departure from the corporate world, and the first step was motivating myself.
Before we talk about skills you need to build, let’s solve the motivation problem.
Read 3 books about the 3 entrepreneurs I mentioned above. This is all the inspiration you will need to kick yourself into action -
Shoe Dog by Phil Knight, the founder of Nike
Losing my Virginity by Richard Branson, the founder of the Virgin brand.
Elon Musk by Ashley Vance, the story of the genius of Elon Musk.
Get these 3 books today in your Kindle, or in paperback format.
Read for 30 minutes every day before going to bed.
You will kicked to start your own little business within 30 days. There’s no two ways about it.
And reach out if you need help with starting the smallest business you can, I’ve tried almost every option :)
That’s it for today.
Are you kicked about starting your entreprenuership journey? Hit reply and let us know, we would love to find out more about your plans.
📂 From the archives
This week, that year -
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