Do you have what it takes to be an entrepreneur and win (big) in the entrepreneur life?
From books to Hollywood, entrepreneurs are all the rage.
Afterall, the entrepreneur life is where dreams are born, and legends created.
And why not.
In the entrepreneur life, you are the boss and get to work whenever and wherever you like.
Let’s not forget that in the entrepreneur life, you create your destiny by solving problems.
And not any old problem.
You’re solving massive problems that make a difference and change society.
Along the way, you’ve helped countless people and created your lifestyle.
And yes, in case you’re wondering, the entrepreneur life has you rich.
Rich in money and the good life like that you see in all those fabulous social media pictures.
The entrepreneur life is grand.
Or is it?
Whether you’re an entrepreneur or about to become one, how do you know if the entrepreneur life is for you?
It’s a great question. Keep on reading to find your answer.
The Entrepreneur Life
Can the entrepreneur life usher in fabulous wealth, happiness, success and fulfillment?
For some it does.
But for many, it doesn’t.
I should know.
My entrepreneur life started as soon as I graduated.
The early days of my entrepreneur life had me working out of my parent’s attic. I started my EdTech, Embanet, with no money, experience, or team.
Failure was all day. Every day.
I had no business being in business.
I should have quit before I even started.
Fast forward thirteen years after I started, people called me an ‘overnight’ success.
I created a 9-figure exit when I sold my company.
How did I do this, you ask?
Wondering if the entrepreneur life is the key to your happiness and fulfillment?
You’ve come to the right place.
In this article, I reveal what it takes to live the entrepreneur life.
The great news is that I’ve already done the heavy lifting for you. You’ll read and prosper from my over two-decades of my in-the-trenches experience.
And as you’ll learn, if you don’t already know, understanding what not to do is as important as knowing what to do.
Ready to find out if the entrepreneur life is for you?
Great, let’s do it!
No Guarantees (For Anything)
When it comes to living the entrepreneur life, know that there are no guarantees. For anything. Ever.
The US Small Business Administration shares interesting statistics.
50% of businesses fail within the first five years.
A staggering 70% of businesses fail within the first ten years.
What can you be certain of when living the entrepreneur life?
The entrepreneur life is a trade-off, and it’s not for everyone.
After I graduated from my MBA program and I launched my EdTech, I failed forward. Every day.
As I sat in my parent’s attic, there were times I thought of my MBA friends.
Most had lucrative corporate jobs with all the perks. I heard about the new cars, exotic travels, and new homes purchased.
I was happy for my friends. Always.
A year into my journey, I had nothing to show for my efforts. Except for a negative bank account and massive failure.
Despite this, I knew a j.o.b. was not for me.
I also knew that I would trade in the certainty of a paycheck for the uncertainty of running my company.
My only guarantee was that it would be me, and me alone, that determined if I failed or succeeded.
The only guarantee for the entrepreneur life comes down to you. You and you alone create your success or failure.Click to tweet
I wouldn’t have it any other way.
How about you?
A Burning Desire To Solve A Painful Problem
The entrepreneur life has you with a burning desire to solve a painful problem.
Being an entrepreneur is an excuse for solving problems. The more painful the problem, the better.Click to tweet
The entrepreneur life is all about solving problems. And entrepreneurs solve problems. Lots of problems.
Fortunes made and empires built on solving painful problems.
Entrepreneurs make the world go round. Always have. Always will.
But here’s the thing.The entrepreneur life has you find a way when the rest of the world tells you there is no way.
When I launched my EdTech, Embanet, the world told me I was crazy. Afterall, the so-called experts reasoned, who would ever take online courses?
As usual, the so-called experts were wrong.
But don’t kid yourself. Getting Embanet off the ground was the toughest thing I ever did.
And at the start, there were days where I thought the so-called experts might have been right.
Look inward. Ask yourself if you too love solving problems, even when it seems impossible.For an entrepreneur, the true spelling of ‘impossible’ is ‘I’m Possible.’
If solving problems isn’t your thing, no worries. The entrepreneur life won’t be your thing either.
But if solving problems is your thing, keep on reading for what you’ll need next for massive success.
Driven To Succeed No Matter What
The entrepreneur life has you with a burning desire to succeed.
This is why you have no issues working 100 hour weeks and taking no holidays.
Oh, by the way, you’ll work through weekends and work without pay.
Some call it grit or determination. Others call it perseverance.
Whatever you call it, the entrepreneur life has you obsessed with achieving success. No matter what.
In the early days of Embanet, taking a weekend off was more painful for me than working through the weekend.
My obsession to figure things out and succeed was greater than anything else.
I woke up thinking about Embanet and went to bed thinking about Embanet.
There are no shortcuts on the road to success.
Vidal Sassoon knew this when he said:
“The only play where success comes before work is in a dictionary.”
The entrepreneur is not for you if you’re all about having a social life. Same with weekends off and vacations.
The irony is that the entrepreneur life can give you long vacations and much more.
But you better be ready to put in the time. A lot of time. Over many years.
If you made it this far, congratulations.
You’re good with no guarantees, love to solve painful problems, and have the drive to succeed.
But there’s more.
This next trait of the entrepreneur life is everything. And the only thing.
One Is A Lonely Number (Rely On Yourself)
Living the entrepreneur life is lonely. In the beginning, it’s you. And only you.
In my journey, especially at the beginning, I knew I could rely on three people and only three people.
Me. Myself. And I.
Joking aside, the ability to rely on you, and only you are the essence of the entrepreneur life.
Ever wonder why some of the most brilliant executives fail in start-ups?
In a start-up, there is no IT person to fix your computer when it crashes.
There is no marketing department to design, create, and launch your campaign. That’s your task.
And forget about an assistant to take your calls, book your appointments, and do the paperwork.
A corporate executive is as much a fish out of water in a start-up as is an entrepreneur in a large corporation.
I should know.
The only j.o.b. I ever held was when I was a summer intern in a national cellular company.
If I were my boss, I would have fired myself. On the first day.
Living the entrepreneur life means you are doing everything yourself.
At least in the beginning.
Your journey is everything. And the only thing.
Speaking of the journey, you better love what you do because you’ll need this for what we’re about to talk about next.
Showing Up Everyday (Including Sunday)
For many, the entrepreneur life unlocks happiness, success, fulfillment, and a great life.
Before enjoying the fruits of your labor, you must put in the time. Lots of it.
And this means showing up. Every day. Including Sunday.
Showing up every day seems easy. But it isn’t.
Failure is humbling at best, and frustrating at worst.
Failure is training ground for your future success.
Earlier I shared that I had no business being in business. Afterall, I started with no money, experience, or team.
In the early days, it was never a question of if I would fail. The only question was how many failures I experienced in a day.
Enter my ’24 Hour Rule.’
I allow myself 24 hours for wallowing in my failures or celebrating my sweet success. But tomorrow is a clean slate and a new day.
A new day to prove myself again, and a new day to win.
Showing up every day, despite setbacks, is as tough on both the mental and physical fronts.
But a very necessary thing if you plan to live the entrepreneur life.
You need one more attribute to round out what it takes to be an entrepreneur and live the entrepreneur life.
Keep reading to find out what this one thing is.
The Entrepreneur Life Is All About Patience
Living and enjoying the entrepreneur life requires patience. A lot of patience.
Patience is knowing that in the beginning, you’ll pay everyone else but you.
Patience is knowing that in the beginning, you must look after everyone else first.
And patience when you’re working through massive setbacks and failures.
Napoleon Hill said it best:
Patience, persistence, and perspiration make an unbeatable combination of success.
In the beginning, my competition laughed at me.
Laughed at how I operated as a cockroach startup.
Laughed at my board of directors being me, myself, and I.
And laughed at my insistence on never giving up.
The laughing stopped when I started to win.
How did I win?
Afterall, my competition was smart and well funded.
I won with patience.
My patience allowed me to watch, observe, and listen.
And my patience fed my hunger and my resolve to prove a point.
The fruits of the entrepreneur life are sweet. But to experience your sweet success, you’ll need patience.
Patience to get you through the challenging and difficult days. And patience for you to earn your stripes and claim your success.
How do you know if the entrepreneur life is for you?
Answer these three questions:
- Do you worry about money?
- Is work-life balance important to you?
- Do you look to other people to get things done for you?
If you answered ‘yes’ to the questions above, the entrepreneur life is not for you.
If the entrepreneur life is for you, I have great news.
Welcome to what will be the greatest journey of your life. Ever.
You and you alone will decide what you do with yourself and your life.
And you and you alone can be the deliverer of happiness for people the world over.
Your reward is a lifestyle and life overflowing with success, happiness, and fulfillment.
But you have to earn it.
You start by accepting there are no guarantees (for anything). You’ll need a burning desire to solve a painful problem.
You’ll be obsessed to achieve your goal, no matter what. You’re OK with relying on you and you alone.
You know that must show up every day, day-after-day, no matter what.
And you’ll lead with your patience knowing that you’ll put everyone before you.
Every one of these attributes is what you must do to live and reap the entrepreneur life.
It’s a game changer.
Can you do it?
An absolute yes.
Know that you already have everything you need to succeed. Right now.
Here’s to you and your success.
Your Raving Fan,