Skip navigation

Get Rich Quick! Go Freelance! Successful Entrepreneur! NOT!

Want to make money with your blogs? Want to have the public racing to your blog to find out what you are going to say next? Want to live in a big home with lots of electronic toys and know that you don’t have to worry about your kid’s college bills? Want fame and popparatzi standing outside of your home? Want to ring the bell on Wall Street?

If you become a successful entrepreneur and go freelance, there may be no end to all you can do, accomplish, create, and make. You can make the world a better place, make yourself happier, or just make yourself richer.

Are you up to it? Do you have what it takes? Are you willing to jump off that cliff?

In an interesting and very well described position, Business Pundit describes “Why I Quit Entrepreneurship and Got a Real Job and what I learned from the experience” in a way that should help you determine whether or not you want to go freelance and entrepreneurial and try to get rich quick.

Entrepreneurship is difficult. No matter how smart you are, how well you plan, or how hard you work, there is still lots of luck and timing involved. If you ever consider making the jump, here are some things to think about.

Money Matters – Lots of people will say you don’t need money to start a business. That’s true, for some businesses you don’t. But it helps… A LOT!…I’ve learned that more than anything else, money gets you a chance to play the startup game…

…Nobody cares that you are smart or knowledgeable (and you need to know if you really are) – Why not? Because everyone thinks they are smart and knowledgeable…You have to know what you are good at, what you aren’t good at but can learn, and what you will probably never be good at. I think this is a major reason businesses fail…

…Short-term thinking can kill your company…It’s even more true for startups. Sometimes you will accept a customer on which you will barely break even, just to get some money in the bank to meet payroll. All you do is push your problem off another month, in hopes you can find a solution, or that business picks up…

…Know how you make money. Ideas are great, and I’m all for doing cool things, but cash is still king. How do you get cash?

Your estimates are wrong – Yes, even your worst case estimates.

You aren’t your own boss – Your customers are way more demanding than any corporate boss could ever be…

You don’t have any free time – If you want to start a business for a certain lifestyle, save your money and buy your way into it. Otherwise, face the fact that it will be a long time before you can step away…At a corporate job, things can usually wait until tomorrow. At a startup, you are perpetually behind, so they can’t…

…Acknowledge your mistakes – A startup is no place for silly issues of pride. When you do something wrong, and you will, admit it and fix it…

Keep your integrity – It’s easy to be a good honest person when you have a steady paycheck. It’s much more tempting to let it slide when a customer overpays and you need the money for rent. You have to stay honest, as hard as it may be. Honest failure is more noble than dishonest winning.

Deal with the possible consequences – If you fail, what will you do next? Can you deal with starting over?…Come to terms with what will happen if you fail.

A very critical point also brought up is that if you want to be successful in an industry, make sure you know people in the industry. And not just any old someone in the industry, the key buyers, movers, and shakers that you can use to help you make your business a success.

A couple points not brought up that I think is important are mentoring and listening. If you are new to freelancing and entrepreneurship, then you need to have one or more advisers you can consult for advice, opinion, and friendship. These need to be people you look up to and respect, the kind of business people and personalities you want to emulate. Follow their examples and leads to help you stay on the right track, and if they take you to task because you screwed up, shut up and listen.

Listening is very important. A lot of get-rich-quick wannabes think they are the expert and so they do all the talking, trying to prove the world that they are indeed the experts, whether or not this is reality. Get humble and learn to listen. Listen to what others are saying in the industry, listen to your customers, listen to your competitors, listen and learn from what you hear as it may help you make the next decision better and stronger than blindly going forth uninformed.

And remember, no business, blogging or otherwise, is a success without a strong plan and road map. Without a clear path, you will stumble around, and success, if it comes, will be by sheer luck more than determination, and the odds are that it won’t last.

If you do want to get rich quick by becoming an entrepreneurial freelancer, read this article to get a much better and realistic perspective on what it really takes. Then bring your parachute with you when you jump of the cliff.


Site Search Tags: , , , , , ,
Copyright Lorelle VanFossen

2 Comments

  1. Posted January 19, 2006 at 2:46 am | Permalink

    All of these points are excellent. I have to say that as a business coach the biggest mistake I have made is a lack of planning. Planning is time consuming and it is always way more exciting to do than it is to sit, think, write and plan. Without a plan you set yourself up for a trap.

    The trap is that you end up with a survival mindset versus a possibility mindset.

    When your goal to just ’survive’ the odds are against you. When you focus on developing a business plan to thrive it will cause you to focus on what you can do to prosper and flourish. Which will always create a better strategy than just trying to survive.

    The thinking of the average business owner needs to shift from survival tactics to creating a plan to thrive. The difference it will make in your business is huge, not only will it change the way you view your business but it will also change your strategy and tactics.

    The other tendancy is focus on making it big when you need to still learn the basics. It is true in life and it is true in business – you have to pay your dues – planning allows you to choose how to pay those dues. When you are in business long enough you will experience as long as you learn from them and play the game to ‘not loose’ you will be around to see another day.

    Playing to win is good but playing ‘not to loose’ is better because you are able to stay in the game – playing to win is an all or nothing proposition. By cultivating a ‘not to loose’ mindset you will make better decisions, be more cautious, and maintain a healthy perspective.

    Remember, playing to win also means you can loose. When you bet everything to win and you loose – you are out of the game.

    As the song says, “Slow down, you move to fast, ya got to make the morning last…”

  2. Posted December 1, 2007 at 11:14 pm | Permalink

    my big problem for starting to be entrepreneur is I feel fearing for starting my business, and than my idea can’t explore


One Trackback/Pingback

  1. […] Get Rich Quick! Go Freelance! Successful Entrepreneur! NOT! […]

Post a Comment

Follow

Get every new post delivered to your Inbox.

Join 20,111 other followers

%d bloggers like this: