Motivation: To "___" or Not to "____"

Its funny, when I officially decided to pursue self-employment, my motivation was two-fold:

- To be financially self-sufficient and to achieve at least moderate wealth
- To be able to do what I want, when I want

The second motivating factor has been a double-edged sword, for sure. If you begin self-employment with the goal of being able to do what you want, when you want - it is safe to assume that you're the type of person who already has a hard time with boundaries, procrastination and timely deliverables.

Therefore, my second motivating factor is also a pretty substantial barrier in achieving my own dreams.

Odd.

Just yesterday, I went to a matinee movie. It was wonderful, liberating and just what I've always wanted to do! However, it took up and unexpected 4 hours of my time. Prime working time. I don't really regret it, because I haven't gone on many daytime excursions since I quit my job last summer and it was a movie I really wanted to see.

But it does make me wonder how can I do whatever I want, when I want if its also going to take away from the very thing that's supposed to financially support me doing whatever I want, whenever I want?

I certainly need to achieve some balance - fortunately for me, the work that I do is endlessly entertaining to me. However, I am going to continue to work towards automation in my daily work. I want to get all of my money working for me such that I actually don't have to work daily if I don't want to. I think my conundrum is caused simply by me not achieving my first motivational goal: complete financial self-sufficiency.

Bulk Trash Pick-Up Week - The Entrepreneurs Are Out!

Here, in our neighborhood, the bulk trash is picked up once a month. This week is pick-up week. Looking out my front office window, I saw that same Gritty Entrepreneur from a few months back! I was reminded of my past post about this guy and how I admired his grit.

This week he had quite the haul - looks like he hit the "junker" jackpot! Sometimes I envy the simplicity of his business structure as I stare at the multi-page tax packet my CPA just sent along. Sometimes, I'd rather sort through other people's trash than complete my taxes. Just going to have to "grit" and bear it, I suppose.

Great Forbes Article: "5 Warning Signs You May Have Entrepreneurialism"

This is the best, comical article on the disease sweeping the nation: Entrepreneurialism Disease. I found this piece to be spot on! Gosh, the constant urge to work for oneself coupled with all of these crippling symptoms really does feel like a disease sometimes! I thought the author showed a great deal of insight. I love that moment when all of things you've been feeling are finally capture perfectly!

I particularly liked this happy quote:

"A natural optimism and a cheery, cooperative personality could, unfortunately, spell entrepreneurial success as you age."

The only cure to ED… start your own business. Plain and simple folks!

Enjoy!

5 Warning Signs You May Have Entrepreneurialism

- Stay Gritty

Hobby as a Career?

There's a pretty mangled and misquoted piece of advice out there being distributed by a number of actors, entrepreneurs and philosophers which says, in essence, "Do what you love to do and you'll never work a day in your life."

So, I researched the quote a found a few variations. There's a strange evolution of this somewhat wayward inspirational quote:

I take the above quote to mean that you should take your favorite hobby and turn that into a living. Well, there are a few problems with that - if you love to play video games, very few people can truly make a lasting, long term career at playing video games. That's not to say that you shouldn't reach for the stars and really make a go of something you love if you have a good plan to monetize your hobby. But, I think there's something to be said for being realistic.

Marc Anthony says something very similar, "If you do what you love, you'll never work a day in your life. Again, I think this is a little backwards. I don't think turning what one loves to do into what they do for a living is sage advice for the masses. Trying to eek a dollar out of your pastime, your creative outlet, your coping device can be a steadfast way to kill your spirit. My mother loved to sew until she started her own upholstery and drapery business. What she once loved to do became a chore. It became a job. It became work. 

Now, this one I liked quite a bit better. I have a feeling that this idea of doing what you love everyday began with the all-knowing Confucius's original quote, "Choose a job you love and you will never have to work a day in your life." So, its saying instead that choosing a job that's well-tailored to you, that you enjoy is a great way to infuse happiness into your life.

You don't have to necessarily to turn what you love into a job - you just need to find and choose a job you love. Which, a-huh, in this economy can be hard enough! Its not exactly simple to know what you'll love until you're in the thick of it. But, all the same, I think this is better advice for the everyman. Just find SOMETHING that you love to do. The best part is, I don't think that it has to be any one thing.

Steve Jobs takes it a step further and says that the only way to do great work is to do something you love. He urges us not to settle in some field of work that we don't love. Being in "like" with your career or profession is not enough!

So, in all, I believe in this whole loving what you do thing - it just has to happen in the right order! The truly gritty will try and try again until they find what they love to do and the rest will sort of just happen!

Self-Employed is Often Misunderstood to mean Unemployed

I'm sure that many entrepreneurs have experienced this very same, deflating conversation. But it was my first time since becoming self-employed over two months ago:

A good friend of ours, who has been so very supportive of my new journey into entrepreneurship, told me about an exciting new job opportunity he saw on his employer's website. "You should totally apply, you'd rock at that!"

I know that this "head's up" on the job opening was meant to be kind. I know that it came with all the best intentions. I knew then, in that moment, that he just doesn't get it. And so, I took it in stride and nodded with raised eyebrows and feigned interest. I might have muttered something like, "Yea! Ok... sure."

But, my head was spinning a little bit. This is the same friend who gave me a big high five for quitting my job and pursuing small business ownership. The same guy that asks every time I see him, "How's owning your own business, boss?"

What happened? Why the sudden change in tune?

I haven't given him any indication that I regret my decision or that I want to go back to being an employee, because, I certainly don't. So, then, I started thinking why would he suggest that I get a job? Does he think I'm bumming off my boyfriend? Does he think I only quit out of spite and that I don't know really what I'm doing? Does he think I'm panicking on the inside and regretting my decision?

Then, I realized that its just his own misguided perception that everyone must have a job.  I mean, I'm not unemployed. I'm proudly self-employed.

Entrepreneurship is a completely foreign concept to some and I understand that. But, I have to admit its hard to buck the trend when even your most fervent cheerleaders are telling you to stop following the path less traveled and jump over to the hustling, bustling city-sponsored walking trail.

It took a few days, but I shook it off and reminded myself that I'm made to hack and trudge and to pad down my own path. Yes, there's the occasional spider web, irritating and sticky. But its all part of the journey. I'm just going to take that self-doubt that I let eek in for a moment and turn it into fuel for my grit!

Haters are going to hate, but grit don't quit, people! 

"Only Morons Start a Business on a Loan" - Mark Cuban

The title of this Mark Cuban interview by Bloomberg sucked me right in, "Only morons start a business on a loan." Even though I bootstrapped my way through the first three years of my business and saw wonderful, surprising growth, I think this spoke to me because I recently took out a loan for my business. Earlier this year, feeling that I truly knew my market and seeing that the profits were rolling in at a steady pace, I took a small loan for $12,000 to boost my inventory. The catch on this particular loan was that it was all due back in a matter of 6 months. I saw the principle payments due back, the overall interest payments and thought it was a great deal. And it was, still is. The terms were very acceptable, I just didn't know how to be a borrower. I had always ponied up the capitol myself.

It was all working so very well, until the fifth month the loans were due back. I just was not making enough to pay back the loan AND continue to grow. I felt stifled by these payments and I definitely feel that the progress I'd made immediately prior to taking on the loan was eradicated. I felt that was essentially starting back over now that the last payment is scheduled for the end of this month. I didn't get nearly what I thought I would out of this sudden infusion of cash.

I'm excited to get back to my normal that I'm so very used to, especially during my business' peak seasonality. I'm not saying that I wouldn't take out a loan again, but I certainly would like to have more of my own cash on hand to combat the payment periods during the slow time of the year. How ironic - you have to have money to borrow money. Or I might take out the loan just before a natural boom in sales. I regret taking out this 6 month loan just before the slow time of year. That was definitely something I would not recommend or repeat.

At any rate, there were a few other awesome nuggets in this video. The grittiest of us will like what he has to say at 1:30 "Small business don't fail for lack of capitol, they fail for lack of brains, lack of effort." Love it!

Let's "grit" our heads down and work, entrepreneurs!

The Reason I'm an Entrepreneur: #1

Genetically, I'm not an employee. I tried that for 6 years. Yes, I worked hard and made my team look great! I gave that company all of my time, efforts, thoughts and energy. Admittedly, I was happy achieving success over and over when I was employed. I was dedicated and hard-working. It didn't matter that I was paid the same everyday, I was driven. I am driven in just about everything I set out to do.

I'm not going to leave something undone or leave someone hanging. I'm proud that I was employed by the same company since graduating college and I'm proud to have been promoted twice during that time. But, I just could not stand to be managed. I was sick of being afraid of what my choices would render down the line if I didn't ask someone to ask someone to ask someone only to get an answer after the deadline. It was a crazy train of bureaucracy and I wanted off! Off I say!

For the last year and a half of my employment, the only thing that got me out of bed was Dr. Pepper. Dr. Pepper? Yup. I'd wake to my alarm, realize all the interpersonal hurtles I had to jump that day and get disheartened. I'd only get excited when I realized I could get a Dr.Pepper on the way in to work. I'd get dressed and ready thinking about it. Now... that's not physically or mentally healthy.

But, seriously, the number one reason that I am an entrepreneur is that neither nature or nurture have guided me to be a satisfied employee. My mom's dad was a cattle rancher and her mother owned a fabric shop. My dad's dad started a very successful air conditioning company. My father tried his hand at plastics manufacturing in the late seventies. And my mom...she's had a business since I can remember: custom drapery, a successful crafts business and now she's excelling at online retail. My family has set the example over and over - don't be an employee!

The problem, for a long time, was capitol. But I gritted my teeth, saved every penny and made it happen!