With shows like The Profit and The Shark Tank, entrepreneurship and the “freedoms” it allows is becoming more and more “sexy”. The truth is that there is the other side to great entrepreneurship and that is, the failures and related risks associated with it. These failures are not necessarily representative of just the entrepreneur, but many times is a function of several factors. Those factors include, but are not limited to, market conditions and cycles, lack of capital and most importantly longevity. By longevity, I mean that businesses need time-on-the-market to get traction. Not all successful products knock it out of the park right away. That’s not to say that any inferior product or service can sustain growth with enough time on the market. It means that however good a product or service is, it needs time to be perfected and recognized.
With that being said, how about considering an entrepreneurship venture while keeping your job? The job will act as your stabilizing force while you systematically build upon and grow your business/product. My book, Job + Real Estate = Wealth develops such a skill set specifically for the Real Estate Investing entrepreneur. But this concept that can be extended for many other industries and passions.
As I state in this short video, the wealthy all had an “accelerator” that propelled them in to the world of wealth. Real Estate is one such example. What is yours?