001 - Why Ownership is Where You Want to Be
Entrepreneurs will weather the coming economic downturn far better than most.
We’re midway through 2021 and I’m not gonna lie - it’s getting weird out there. I always suspected that this year would be more traumatic than the infamous 2020, and from where I sit today I think I’m right. Lockdowns, job losses, “stimmy checks”… it’s a whole new world out there.
I’ve always been a big believer in (and practitioner of) working for myself. In fact I haven’t had a boss in almost 25 years.
I believe entrepreneurship today is more than just a “good idea.” In my opinion it’s darn near a survival necessity. Here are some compelling reasons:
You have control: When you are the boss, your safety and security is in YOUR control. No need to rely on the whim of some dweeby pack of self-interested middle managers to put food on the table. In these uncertain times, nobody is coming to save you. YOU are the savior.
Use it or Lose It: You are the master of all your own time and attention, the two most critical non-renewable resources in your life. Paying attention to the wrong thing is a waste of your time. Wasting your time is wasting your life!
Building wealth: Profit is yours. You get to reap all the rewards of your talent and hard work. When I started my first business, my Dad told me one simple thing: “You’re in this to make a profit.” This little piece of sage advice has saved my bacon on countless occasions. Especially in these times, profits equate to safety.
Ultimate job security: Even on a sinking ship, owners are the very last to get fired. Although ownership can be very stressful, trust me, I haven’t had to worry about “getting fired” in decades. I sleep like a baby.
It’s nuts out there: Times are incredibly unstable. Entire industries (e.g. restaurants, meat packing, movie theatres) are going up in flames overnight. I’ll be fine because I have money and I know how to make more. Let’s get YOU up to speed so YOU don’t have to grub for roots and berries when this economy blows up!
Endless options: Ownership brings you experience and capital, which in turn give you infinite options moving forward. Savvy owners are like weeds. You just can’t kill us.
Video Vault
I want you to get excited about working for yourself because ownership has made all the difference in my own life. If you need a bit of a kick in the pants to get your entrepreneurial juices flowing, check out this vid from the great James Altucher:
This is the Best Time in History to Start a Business
Well, OK, maybe this isn’t the absolute BEST time to start (what with the governments of the world turning on their own people en masse), but if I were a young buck with the energy I had in my twenties, I would be absolutely SALIVATING over the opportunities.
The fact of the matter is, technology today has brought the barriers to ownership down to basically zero. For the price of a few Starbucks lattes, I can have a fully functioning website up and running. I can promote it through social media (e.g. Youtube, Twitter, LinkedIN etc.) FOR FREE.
I can instantly collect payment via any number of technologies such as Paypal, Stripe, Square or even Crypto.
I can even have my legal work done for next to nothing via services like Legalzoom and Rocketlawyer. It’s nuts!!
So the “bones” of a business are easily set up in no time and for almost no cost. Therefore, entrepreneurs today have the absolute luxury of focusing most of their energy on the IDEA. What will your product or service be? What do people want? What do people need? What are you good at?
Because the barrier to entry is so low, I believe the time to start is NOW. I don’t care what your own circumstances are, you can start right away. Maybe you’re married, maybe you’re dyslexic, maybe you’re broke, or maybe you’re only 14 years old. It matters not! Just start. THAT’S the biggest step, and it is oh so easy.
Anyone and everyone can get in the thrilling journey of entrepreneurship no matter their circumstances. For example, my nephew recently confided in me that he really didn’t want to go to college. He didn’t see the point. Here’s what I told him:
Well then you’re one of the lucky ones. You should start a little business. I don’t care what it is. Worst case is it fails and you gain a bunch of experience. More than likely, though, you will be way ahead of your dopey college-bound friends both financially and in real-life skills. Going to college was one of the biggest mistakes of my life.
Do you realize, by the way, that we live in a time when you could conceivably have a new business up and running, AND have your first customer, within a week’s time?
I’m not saying it’s easy, but it’s well within the realm of possibility. NOW IS A GREAT TIME TO START A BUSINESS!
Tweet of the Day
I couldn’t agree more with this tweet. This is the answer in a nutshell. I’m enthused to see these ideas spreading half way around the world!
My Promise to You
I’m a busy guy and I’m a little bit crazy. I really do live “The American Dream” right now because I climbed the mountain-top one little step at a time, and now I’ve got all the resources I need.
I love life because I have absolute freedom. I can do what I want when I want. I can HAVE what I want.
I thought I’d live out the rest of my years on the golf course and sipping girl-drinks by the pool. Now that I’m able to live out that vision, it just doesn’t feel right.
I’d like to spend as much of these remaining “good years” spreading the gospel of freedom and entrepreneurship. My Dad really WAS right. Ownership is where you want to be.
Through this newsletter, I’m going to do my very best to encourage, inspire and instruct you in your own journey toward financial freedom and prosperity for you and your family.
GOD BLESS!!!