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Is there a constant fear in the back of your mind even if you're a successful Entrepreneur?

Discussion in 'General Entrepreneur Discussion' started by dimraj, Feb 17, 2019.

  1. dimraj
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    dimraj Contributor Read Millionaire Fastlane

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    I am nearly mid 20'S and been on my entrepreneurial journey for about 3 years now. I have had what most people will think of as relative success for my age, lower 6 figure income working in digital marketing. But to me all i can still keep thinking about is...

    - What if things go tits up and all comes crashing down? Then what.

    - I haven't had a job for a while using my university degree, and all i keep thinking is the gap in my CV (Resume) since my last ever job keeps getting wider. When things go tits up who will rehire me after not working for nearly 3 years?

    - I have enough savings buffer for two years living expenses in the worst case scenario, but what if i cant make anything else work in the 2 years and burn through my savings and also having no one hire me.

    I dont know, i just can never shake these feelings, is this a normal thing for you older guys who have been on this journey a lot longer than i have? I can never make the same type of income even if i was to work in the field in which i studied at University, yet i still feel this holds more merit to be a part of normal society than what i have personally achieved.
     
  2. Wiezel
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    Wiezel Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    You'll even die some day.
    Just do what you can at this moment, you never know what happens in the future.
    Can be good, can be bad.

    Do the best you can at this point, and don't forget to be happy along the way. ;)
     
  3. RazorCut
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    RazorCut Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Use your saving to build passive income streams. The more strings you have to your bow the less you will fear one string failing.

    Everything is cyclical. Recessions come and go. House prices go up and down. Bear markets turn to Bull markets. Just accept those facts and think to yourself why the hell would you want a boss in your future?
     
  4. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    I trust myself to figure it out. I expect there to be problems. I expect things to not work out as planned. It’s just the way it is. Once you realise that the obstacle is the way, that problems are stepping stones in disguise, then you don’t worry about problems... you welcome them.
     
  5. Rabby
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    Rabby Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Not to get too philosophical, but it probably implies some inner conflict of ideas. You're worried it will "all come crashing down." A lot of people worry about that. I've had things I worry about too (social things mostly, like "they're all gonna laugh at you!").

    The thing to examine is, what about your your life right now makes you think it will come crashing down?
    • Do you believe that success leads inevitably to failure?
    • Do you believe uncertain outcomes imply great risk?
    • Do you believe that business ownership is riskier or less stable than employment?
    • Do you believe there is some inherent flaw in yourself that will "crack" at a certain level and send you toward failure?
    These are totally normal anxieties for people to have, and they can all be overcome. We get conditioned, usually early in life, to assume certain things. Both positive and negative things. If they're detracting from your quality of life, you examine them, figure out what the source of your concern is (such as the list above), and make a counter-argument.

    Then, whenever you catch yourself thinking "it's all gonna come crashing down because....", you have to make a reasonable counter-statement until you've trained your mind to stop ruminating on uncertainties and anxieties.

    "It's not more likely to come crashing down than some job I could be working in... and here I have more control."

    "If success leads to failure, all the broke people would be talking about how rich they used to be, and all the millionaires wouldn't exist."

    "It's just that I don't know the outcome yet, because I have to discover it. It doesn't mean something bad is happening. Besides, uncertainty is the root of opportunity."

    Things like that. You can design your own emotional mind, train it to default to the things you think will make you feel better and have more and more success.
     
    UnrealCreative, Jello, Bekit and 6 others like this.
  6. LittleJohn
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    LittleJohn Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    First KUDOS to you Young Hustle for the 6 Fig jig. Big props. Be proud as Im sure you are. First thing I was thinking was what is this guy doing with his money? Then I read you have 2 YEARS saved up.

    Without having the entrepreneurial success yet you have but being mid-thirties I can tell you resourceful people figure shit out. I would think you done it once you will do it again if that is what you want.

    Regarding being unemployable - I think at the end of the day its kind of shit meaning that if you ever find yourself looking for a job and the employer is really looking for someone to do a job AND you believe you can contribute and give the employer what they are willing to pay for then you have good probabilities of getting that job if you can sell yourself to them.

    As years go by I find myself getting further from 'normal' thinking (you're out of the job market how will you ever get a job!!!) and closer to understanding people and how to contribute and add value. And that is something that is well, valuable. Feel me?

    Again, way to rock it on your biz man. You should be proud.
     
    Danny V. and dimraj like this.
  7. dimraj
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    dimraj Contributor Read Millionaire Fastlane

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    Wow, thank you all so much for your replies. Means a lot to me and definitely puts things into perspective.
     
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  8. Walter Hay
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    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    I have always considered problems to be opportunities waiting for a solution.

    Yes, they can definitely become stepping stones.

    Walter
     
  9. Primeperiwinkle
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    Primeperiwinkle Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Duane, Roz and dimraj like this.
  10. Ecom man
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    Ecom man Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    For me the super simple thing that I have done to alleviate that fear is create multiple income streams as well as decrease my cost of living.

    What I mean by that is my house and cars are paid off entirely. If the economy crashes tomorrow and I never sell another dime of items online I can cover my family’s living expenses with $600-$800 a month. Bare bones with nothing going into savings I can probably live off of close to $500 a month tbh. I can go work part time at a fast food joint and my family’s standard of living doesn’t change at all.

    Do I think that will ever happen? Probably not but having a paid for place to stay helps a lot if you are worried about the economy crashing horribly.
     
    amp0193, LittleJohn, Bekit and 4 others like this.
  11. BookwormMitch
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    BookwormMitch Silver Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    I just want to comment and say I have the exact same feeling all the time. Thank you for posting this thread and thank you all for all the replies.
     
    dimraj, Primeperiwinkle and RazorCut like this.
  12. WinYourself
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    WinYourself Bronze Contributor

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    Stay of social media.

    Don't upgrade your lifestyle.

    Don't buy things to signal status.

    Takes out most stress and fear of entrepreneurship.

    Bringing home 2-3k/month is always possible.

    Having to kill 10k/month just to cover fix cost is a different beast.
     
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  13. richRich
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    richRich Contributor Read Millionaire Fastlane

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    "The impediment to action advances action. What stands in the way becomes the way."
    -- M.A.A.
     
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  14. LittleJohn
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    LittleJohn Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    The house is a big one to be paid off that's pretty sweet man.
     
  15. WinTheDay
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    WinTheDay Contributor Read Millionaire Fastlane Speedway Pass

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    This is times 100

    If you get comfortable with the fact that you can die at any second you'll start to enjoy life more, instead of living in fear of the future and what could happen. Just focus on getting your FU money, don't worry about all the other what if's, it's all noise man.

    And think about it, if you have a job isn't it an even worst risk? What if you get let go because the company you work for goes under? Pick your posion dawg.
     
  16. Ecom man
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    Ecom man Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Yeah it probably isn’t the best investment in the world tbh as market is honestly pretty high in Arizona and is probably headed towards a correction but it certainly helps me sleep at night knowing if the world turns upside down I’m still miles ahead of most 30 year olds.
     
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  17. amp0193
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    amp0193 Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    When you have skills, you can pay the bills.

    If you're business falls apart tomorrow, you've got skills that are worth money to someone. Freelance yourself, get a job, however. Your resume is "ran a company for 3 years". It's not empty.
     
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  18. SK1
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    SK1 Contributor Read Millionaire Fastlane

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    Don't sweat the CV gap - just make sure you don't need a slowlane job again....and if you do, the fact that you have set up in business should be a far greater experience than being a cog in a big machine - you built and own your own machine!!!
     
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  19. Mutant
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    Mutant Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    This.

    Also, a friend of mine quit a job to go travelling for a year. One year turned into about three I think it was. When he went to get a job again, he did wonder about the gap on his cv, but the main reaction from interviewers when he explained how much of the world he’d seen in those years was they wished they’d done that! That was all. He had skills they wanted, he got hired no problem.

    Like @amp0193 said, you don’t even have a gap, you’re running a company (which is generally not *less* work than being employed!)

    All this is to reassure you could get a job if you needed to, but you’re unlikely to need to. If you’ve done this well at entrepreneurship once, you could do it again if the situation arose. You’ve proved you have the skills.


    Sent from my iPhone using Tapatalk
     
    amp0193 and RazorCut like this.

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