Entrepreneur builds successful business by doing something she hates: cleaning

[The-J]

http://www.theglobeandmail.com/repo...sion-for-these-entrepreneurs/article19886803/

For many entrepreneurs, going into business for themselves is a chance to turn a passion into a career. Melissa Maker isn’t one of these people. Instead, she’s built a business around something she utterly despises: cleaning.

She’s not alone, other dispassionate entrepreneurs are building businesses in lines of work that the never expected to get into.

She found a need in an underserved market and attacked it. She hates cleaning, she knew others did too, and decided to do what she hated for other people so they didn't have to do it.

And people paid her.

Now she grows her business through YouTube videos and doesn't have to clean houses anymore.

This article tells other stories of very successful people who started by doing something they hated for other people. Now not only do they not have to do it anymore, they have more freedom overall. One of them even started a new business.

There's opportunity in HATE.

 

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[MJ DeMarco]

Bump. Love it when "do what you love" is knocked down off it's pedestal. (Confirmation bias, yes.)

 

[chrischapman]

I remember reading a book a few years ago and it talked about hedge funds exploiting financial market imbalances. it made the point that many common securities like high grade government bonds and corporate bonds and equities returned less on investment because of certain 'premiums'.

That is to say that investors will forego investment income for factors like: safety of the instrument or underlying institution - risk (low) premium, liquidity of the asset - liquidity premium, and other factors.

So, normally the US government might have to borrow at 6% (bond issuance) but because US t-bills are so safe and liquid, they actually borrow at super low rates nearer to 1 or 2%.

similarly, argentine and russian government bonds for instance (unsafe and illiquid) attracted higher rates for those simple reasons. if hedge funds can tolerate these factors, they can score a higher return.

The whole idea of 'premiums' has since stuck with me.

I can remember at age 16 thinking that the same applies in the job market. For example, your work might normally be worth $100k. but the fact that your income is secure (or at least has the appearance of such) lowers your wage to $85k (job security premium), then the fact that you get consistent paycheck the same every week lowers your wage to $60k (consistency premium), then there is the gamble of the company that you produce very little and are lazy and do the minimum effort, they are unsure, so the hedge their bets they pay you less (less true in sales due to commissions) (lazyness premium) and then a whole lot of other factors that allow the company to skim off the top of your actual product their profits and pay you the difference.

then, the entrepreneur is paid his/her premium. the pay isn't consistent, secure and you cant be lazy. you have to forego certain luxuries of a salaried employee. there is the stress, the one man band element and a whole lot of other little factors that add up to make an entrepreneurs income potential huge.

it may be a bit hard to get, i dont know. but there is a 'doing what you enjoy' premium which means if you are doing just what you like, you forego income because other people also like it and bid down your business profitability in the marketplace.

there is definitely money in doing stuff you dont like doing. anyway, i hope u understand my 'premium' theory. whatever.

 

[The-J]

it may be a bit hard to get, i dont know. but there is a 'doing what you enjoy' premium which means if you are doing just what you like, you forego income because other people also like it and bid down your business profitability in the marketplace.

Yep. The premium comes in the form of COMPETITION. People want the opportunity to do what they want, so they'll take lower and lower pay in order to do so. Take an artist that makes $15,000 a year but wouldn't trade his position for a $150,000/year 9 to 5 job.

Like MJ said in his book, you can defy it by being exceptional. Low level athletes rarely get paid at all, and yet pro athletes can have salaries in the 8-figure range. Personal trainers are everywhere, most of them not making shit, and yet there are personal trainers who gross $200+ an hour and are swamped with work! Those people are exceptional at what they do. Reminds me of the Boiler Room quote: "I happen to be damn good at my job otherwise I'd be out of one."

If you want the RICHES, listen to what the MARKET wants. Often the market's wants are dictated by what they hate or what makes them uncomfortable. It could be as simple as 'Hey, I don't want to clean, and apparently quite a few people I know don't want to either. Let's see what cleaning companies are out there. Oh, there's only a couple? And they only advertise in the yellow pages? Awesome, let's create an offer and see who bites'

 

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