Paying your dues, laziness, and the work-life balance...

[eqpablon]

None of you sound very happy, and quite a few of you sound angry. I should probably send a recruiter your way

 

[Flambeur]

Originally Posted by youngscientist

So you want to be an entrepreneur? For a very (very) few it can be a short cut to a **** load of cash but you need an idea - what is yours'? Promise I won't take it.

Ideas are dime a dozen. Execution is everything.

 

[ysc]

Originally Posted by Flambeur

Ideas are dime a dozen. Execution is everything.

Yeah sure, I more meant the idea + the angle or sell that was going to make it fly, it doesn't even have to be a good idea if you get that right.

 

[globetrotter]

Originally Posted by bawlin

I'm really not sure what you mean by this, but I do know that people like you fuel my desire for success. I'm sure Ray Kroc's mother was none-to-thrilled when he told her that he was buying a hamburger restaurant and wanted to take it national. What about Andy Grove? I personally know a gentleman (a great entrepreneur in his own right, someone who would laugh and some of the crap that's being said in this thread) who was given the opportunity to invest in Integrated Semiconductors when they were still in their infancy. His $100k investment would have been worth well over $1bn today. Did he do it? Hell no. What the **** was a semi-conductor in the early 70's? To the average joe, it was a bunch of hogwash. Now I am in no way comparing myself to the Ray Krocs or Andy Groves of the world, but the point is that I am sure each of these individuals had to deal with people who were doubters, haters, etc. Some people JUST don't get it and it's really as simple as that. And the one thing I don't get is why some people can't embrace the fact that others chose to live their life my taking these risk in hopes for success, rather than taking the slow and steady path up a ladder.


I've been in 4 startups, and a multi-billion dollar high tech company that was less than 10 years old, a start up that was hugely successful. most of my friends have been involved in start ups. a tiny fraction have "made it". the ones that were most successful, altogether, were the ones that were best prepared in the traditional way.

I'm not doubting you, nor do I really care one way or another. I am just saying that the chance that you will find yourself middle aged and in a bad job is probrably 99%, if you don't prepare yourself well when you are young. you doubt that, fair enough. lets talk in 30 or 40 years and see how it works out for you. good luck

 

[globetrotter]

Originally Posted by Flambeur

Ideas are dime a dozen. Execution is everything.

+1. essentiallly, what I do is work for people who have had good ideas, and the people who give them money tell them that they have to get proffetionals to run the company. I have yet to see a person who comes up with a great idea run a company well, in my personal experience. sure, there are many out there, but a tiny fration of the entrepenours out there.

 

[bawlin]

You use the term 'successful' like it has a finite meaning. How am I supposed to know what your definition of success is? And moreover, why should I even care? Your definition of entrepreneur is myopic at best and you're clearly neglecting to realize that entrepreneurs come in many shapes and sizes. Someone who owns a Subway franchise is just as much of an entrepreneur as someone who founds the next Google. The Subway guy may never be a billionaire, but he works for himself and his success is fully contingent on the amount of work he puts in. Perhaps he leads a life devoid of the need for luxuries and the $80,000 a year that he nets is more than enough to support himself and his family. Are you saying that he's unsuccessful?

Moreover, what's this 'traditional preparation' that you speak of? You have absolutely no clue as to what sort of skills I have, what sort of positions I have worked in, and what industry I plan on enterprising within. How do you know that from the age of 14 - 21 I didn't work in a restaurant as a dishwasher, cook, manager, etc and my goal in life is to open a restaurant of my own? Would I not be 'traditionally prepared' to take on such a task? Does the fact that I skipped a paper-pushing job mean that I'm not traditionally prepared? So many of you are so quick to throw out these blanket statements and terms with no real depth to them.

I was talking to an older gentleman the other day and I was basically telling him my biggest fear in life is mediocrity, to which he replied, "If you are concerned about ending up in mediocrity, you have the capacity to be great." Words to live by.

 

[globetrotter]

Originally Posted by bawlin

You use the term 'successful' like it has a finite meaning. How am I supposed to know what your definition of success is? And moreover, why should I even care? Your definition of entrepreneur is myopic at best and you're clearly neglecting to realize that entrepreneurs come in many shapes and sizes. Someone who owns a Subway franchise is just as much of an entrepreneur as someone who founds the next Google. The Subway guy may never be a billionaire, but he works for himself and his success is fully contingent on the amount of work he puts in. Perhaps he leads a life devoid of the need for luxuries and the $80,000 a year that he nets is more than enough to support himself and his family. Are you saying that he's unsuccessful?


well, I know a half dozen guys in jail now because they were in high tech and didn't really have good business backgrounds and tried to get rich quick at the expense of good business practice. and one guy who will spend the rest of his life in africa avioding extridition.

I have two ex-ceo's who lost pretty much everything, seriously everything. and I know a handful of small businessmen, including family members who have gone bankrupt on simple small businesses (inlcuding a bakery and a small testing facility)

Moreover, what's this 'traditional preparation' that you speak of? You have absolutely no clue as to what sort of skills I have, what sort of positions I have worked in, and what industry I plan on enterprising within. How do you know that from the age of 14 - 21 I worked in a restaurant as a dishwasher, cook, manager, etc and my goal in life is to open a restaurant of my own? Would I not be 'traditionally prepared' to take on such a task? Does the fact that I skipped a paper-pushing job mean that I'm not traditionally prepared? So many of you are so quick to throw out these blanket statements and terms with no real depth to them.

fair enough - in my mind that is "paying your dues" in a lot of ways. but, again, will owning a resteraunt give you what you want out of life? and, if it fails, will you have a back up plan? if you can answer both of these yes, then you are on the right track.

 

[bawlin]

Originally Posted by globetrotter

well, I know a half dozen guys in jail now because they were in high tech and didn't really have good business backgrounds and tried to get rich quick at the expense of good business practice. and one guy who will spend the rest of his life in africa avioding extridition. I have two ex-ceo's who lost pretty much everything, seriously everything. and I know a handful of small businessmen, including family members who have gone bankrupt on simple small businesses (inlcuding a bakery and a small testing facility) fair enough - in my mind that is "paying your dues" in a lot of ways. but, again, will owning a resteraunt give you what you want out of life? and, if it fails, will you have a back up plan? if you can answer both of these yes, then you are on the right track.
My #1 virtue in life is integrity. I have never stolen from anyone, nor will I ever do so. My father worked in an industry where the crooks were the ones making a killing and he chose to be honest and his business suffered as result, but when all these 'fly-by-night' businesses came and went, he was still there. Growing up, I always asked him why he didn't follow the masses and he drilled into me how important one's reputation is and how integrity is the only thing that NO ONE can take away from you. From that point on, I understood why he was operating the way he was. The job that I quit a few months ago was a broker position, but the only way for us to make any sort of real cash was to be dishonest with our clients and I couldn't live with myself so one day I just packed up and left. There were people in my office with no real formal education making well into the 6 figures. But they were the ones that would home and down a 5th of Jack and take some percocets just to be able to sleep at night. Personally speaking, the restaurant thing was an example. While it's something that I am indeed interested in, it's by no means something that consumes my time. The best thing about being my age and wanting to do what I want to do is that I have absolutely nothing to lose. I pity my friends who have already purchased condos and are so over-leveraged that they themselves are slaves and will never really be able to get out of that trap. If my venture fails, so what? I'm so young and I have so much time ahead of me. If anything, I hope that I fail so I can learn from it and hopefully that will make me a stronger person.

 

[feynmix]

Originally Posted by bawlin

I was talking to an older gentleman the other day and I was basically telling him my biggest fear in life is mediocrity, to which he replied, "If you are concerned about ending up in mediocrity, you have the capacity to be great." Words to live by.


You pretty much took the words out of my mouth.

 

[Bradford]

Can I just say, that I have a feeling this discussion has been going on from time immemorial. As a member of Gen X, I know we were the "slackers" who were never going to accomplish anything.

I'm sure the Greatest Generation looked down on the Boomers and wondered why they were wasting their summers smoking pot and going to Woodstock.

Now it's Gen Y's turn and like every other generation before them, some will make it by working hard and some won't.

That being said, check out my profile in the Esquire contest so I can become a D-list celebrity, translate that into a reality show, followed up by guest appearances at nightclub openings and then I won't have to work hard either

 

[Flambeur]

Originally Posted by bawlin

You use the term 'successful' like it has a finite meaning. How am I supposed to know what your definition of success is? And moreover, why should I even care? Your definition of entrepreneur is myopic at best and you're clearly neglecting to realize that entrepreneurs come in many shapes and sizes. Someone who owns a Subway franchise is just as much of an entrepreneur as someone who founds the next Google. The Subway guy may never be a billionaire, but he works for himself and his success is fully contingent on the amount of work he puts in. Perhaps he leads a life devoid of the need for luxuries and the $80,000 a year that he nets is more than enough to support himself and his family. Are you saying that he's unsuccessful?

Moreover, what's this 'traditional preparation' that you speak of? You have absolutely no clue as to what sort of skills I have, what sort of positions I have worked in, and what industry I plan on enterprising within. How do you know that from the age of 14 - 21 I didn't work in a restaurant as a dishwasher, cook, manager, etc and my goal in life is to open a restaurant of my own? Would I not be 'traditionally prepared' to take on such a task? Does the fact that I skipped a paper-pushing job mean that I'm not traditionally prepared? So many of you are so quick to throw out these blanket statements and terms with no real depth to them.

I was talking to an older gentleman the other day and I was basically telling him my biggest fear in life is mediocrity, to which he replied, "If you are concerned about ending up in mediocrity, you have the capacity to be great." Words to live by.

HELL. *******. NO.