Thread: I love capitalism (risk and reward) - Repost from CraigsList

Shown below is the content of a post from craigslist.
I love capitalism

I have worked in my field for almost three decades. About twenty years ago, I determined that I could start my own business in my field. I had the knowledge and experience, the credibility with customers, and some leadership skills. I struck out on my own with my life savings. I worked long hours pursuing business. I landed some customers, but the closure rate was about 1%. I would go on hundreds of marketing and sales calls, and would land a customer here and there. I went along for several years, made a decent living (enough to keep going), and employed a few others here and there. I learned some hard lessons about running the business that were harshly different than what I had learned as an "employee" executive. Every decision to spend or invest in an idea came out of MY pocket. That business failed after about six years. So did my marriage.

I took a job again, rekindled my savings and inflow of cash. My employer made money and I made money. When I had put away enough to get going again, I did. It took 7 years. I ventured out again, about 7 years ago. I again risked everything I had accumulated. I went full bore, 20 hour days were common (more than I would have hoped). I sit now with a business with about $30 million in annual revenue, and continuing to grow. The risk paid off (for now anyhow). I employ upwards of 150 well compensated professionals. It came with a price in terms of my health and ability to enjoy life. But that's what it takes. I am comfortable enough to go the rest of my life now. I still am the first one in the office and the last one to leave 4 of 5 days per week (I take frequent three day weekends now).

Each of my employees has the capacity to do the same thing I did. Maybe one day one of them will. They seem more content to make their six figures without risking any of it to make more. Fine by me. I never was and am not now comfortable as an employee. I did it out of necessity, but climbing a corporate ladder always seemed rife with dishonesty and sucking up to the wrong people. People I didn't really care for.

The excitement of taking a risk, of putting yourself and your wealth on the line and giving it your all to be what you can seems lost these days. I didn't climb a corporate ladder, I created one. Most of my people have more impressive credentials and resumes than I do, but they have no balls. They would rather be a vice president for me, than risk their cushy existence and create something for themselves.

When I hear people clamoring for jobs...when I hear the government talking about creating jobs...I often wonder where our spirit has gone. Then I go to the dry cleaner, and I see a humble guy running his little business and I am heartened. Americans of all races, backgrounds and religions continue to strike out on their own to make their own future. Some make it, some don't. But those of us who do this by choice are the engine of our economy, not the resume readers. Keep that in mind as this President and Congress move forward. Every policy move they make to harm small business is one less Microsoft or Apple in the making. Perhaps that is the objective. Resumes are a crock of shit. A bunch of "I did this, I did that". I have seen thousands of them and would guess that maybe a handful weren't grossly overstated. Your resume becomes irrelevant and must be proven daily when you take your capital, apply it with no guarantees, and see what you can truly do (not profess to have done).

Every one of you looking for a job are totally reliant on the vitality of people just like me. Remember that as more and more obstacles and taxes are levied on small business. We make it all happen. When your vote harms us, it harms yourself. WE are the economy.

Being an entrepreneur is a hell of a lot more interesting than being an employee.

First of all, business is all about imagination coming real.
Second of all, business has no limits more than the once we want to impose on it.

Imagination is much more rewarded in business than in an employement situation.

And yes, when you hurt US, you really hurt YOURSELFS the most. If we are fucked, then you are totally fucked. Without the nice allowance, we give you, you are nothing. Accept it or join us.

NOTE: That is why I don't believe in doing everything your employees want you to do. If you have a company and you pay these guys money, then they should do exactly what you want them to do, or they can get the hell out. My way or the highway. Pretty easy stuff to understand. These days you more or less need to kiss the employees asses. What a joke.

This one slipped through the cracks...


20 hour days the author claims seem counterproductive and in my case would quickly lead me to low productivity and eventually nervous breakdown but it was a good read.

Nice find and yes, 20 hour days? At some point, our entrepreneur needs to reclaim his time!

(BTW: Thread moved out of news to a more visible location)