How to determine if you should become an entrepreneur and work for yourself, or if you are better off as an employee and should instead work for other people. How to determine what your first steps should be and what type of business or career you should go into if you have many things that you like and are passionate about, but are unsure of what type of career or business is right for you.
In this video coaching newsletter, I discuss an email from a viewer who is nineteen and has been working two part-time jobs since he was fifteen. He is starting to think that he should become an entrepreneur and start his own business. He says he is slowly coming to the realization that he would rather work for himself, invest his time and money in himself and slowly create a world where he has his money working for him and providing an income. He wants to become a millionaire. He has several business ideas he is considering: clothing, cake/sweet shops and even advertisements that go onto cars.
He also thinks about real estate investing or starting a YouTube channel where he plays video games and does commentary reviewing games or films. This is a very common type of life coaching issue I work with during phone sessions to help clients figure out what their true passion and mission is, so they can get clarity and start taking action to make it a reality. My comments are in (bold parenthesis like this below) in the body of his email.
First, I would like to say thank you for all the knowledge you give out and everything it has taught me, especially with women. I am glad that I found your work at such a young age, 19, as it’s slowly helping me create a future where I am a young, confident alpha male, surround myself with abundance in every aspect of life, and get what I want. (You should always study about people who are more successful than you. On my website under the Products tab, I have a list of self help products you should check out that contain the wisdom of some of the richest, most successful people who ever lived. Socrates said, “Employ your time in improving yourself by other men’s writings, so that you shall gain easily what others have labored hard for.”)
Since the age of 15, I’ve been working two part time jobs – one on the weekends and one for a few days during the week. (That’s great. It tells me you’re a hard worker. Keep moving towards what you really want in life.) However, during my many years of working and my time at university, I’m slowly coming to the realization that I would much rather work for myself, invest my money and time in me, and create a world where I have money working for me, and not me working for money. I think my first money goal would be to hit £1 million. I have a few business ideas, i.e. clothing, cake/sweet shops, and even advertisements that go onto cars. (Unless you’re really crazy about the idea, you’re just talking about ideas that can make money. You’ll never work hard enough at something that you’re trying to make money at and make successful, if it’s not something you really love. You won’t be enjoying what you’re doing.) All would probably benefit from starting online. I would also, at one point in life, like to go into the property market where I’d renovate a worn down house, and either sell or rent it. (You should only go into real estate if you love it.) I have also considered making a YouTube channel where I’d play video games, make reviews on games and/or films, and possibly give out my knowledge and help like you do. (You’re going in all kinds of directions here.)
I guess what I’m asking of you in this email is, firstly, where would I start in regards to making a business and making a successful start-up, and secondly, creating a lot of wealth where I can create the future that I want, full of abundance, and don’t have to sacrifice while helping friends and family get the life they desire and deserve. (You’d like to help your friends and family. That’s an admirable goal.) I am very money-motivated and willing to work hard to become a millionaire. (You don’t become a millionaire by focusing on making money. You have to focus on adding value through a product or a service. Work in an industry you really love, and learn their business model.)
My response to him:
The starting point is to figure out what you really love and are most passionate about. Not a bunch of things you simply like. The only way to become great at something is to work at something you truly LOVE, not like. That means on a scale of 1-10, it’s a ten, as far as how emotionally compelling it is to you when you think about doing it at the highest level. You should review these articles as a guide: “Discover Your Purpose.”
We will work hardest at something we love and enjoy, not something we like. Once you figure out what you love most and what you feel you have a burning desire to accomplish, then go find someone or a company that is already succeeding at what you would love to do, and go work for them. You can get paid to learn their business model, how they get customers, how they run their business, the kind of people to hire, what to charge, etc. Then, once you know the business inside and out, you can start your own, instead of trying to reinvent the wheel by yourself. If you start working at something you think will be great, and it turns out that it sucks, then change your job or change companies. You have to try things out to determine if you really love it. Once you realize your internal enthusiasm is not there for something, you need to make a change, instead of hoping it gets better. Trust your heart, and follow your curiosity and intuition.
Stop focusing on making money. If you focus on making money you will fail. Making money is a side effect of adding value to peoples lives. The more you develop your skills and the more value you add, the more you will make. Then, you can take the money you make and invest it in other things to put your wealth to work for you. Review this article and video: “Find A Way To Add Value.”
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From my heart to yours,
Author, Speaker, Peak Performance Coach, Entrepreneur
“People will work hardest at things they truly love and enjoy. Working at something you love and enjoy feels more like playing than it does work. When trying to figure out your true purpose and mission in life, you should make a list of only the things that you truly LOVE, and exclude things you simply like. Your true driving force needs are things that you LOVE and will move you towards your true passion and mission, but following things that you only like will confuse you and take you away from your true passion and mission. When you are unsure of what you love versus what you like, then you need to experiment, research and try working at things that appeal to you to see if it’s a true passion, or simply an interest. Keep changing jobs and trying new things, once you determine something is not a true love and a passion, so you can discover what you really love by the process of elimination and experiencing.” ~ Coach Corey Wayne
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