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Question about the Commandment of Control

Discussion in 'The Unscripted Entrepreneurial Mind' started by Generic_Username, Dec 25, 2018.

  1. Generic_Username
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    Generic_Username Contributor

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    To quote this own site, "As an entrepreneur, you want to control your business whereas no one entity can put you into bankruptcy." Does this mean that you have to have a controlling interest in your business where you get to make every single major decision no matter what because of voting rights? A famous example of violating this would be the fact Steve Jobs was fired from Apple even though he helped found it. Does this force you to know every single skill in business (i.e. marketing, human resources, finance, operations, etc.) because you're the one making decisions and not have any legitimate partners (they're more like passive investors)?
     
  2. MakeItHappen
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    MakeItHappen Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Have you read MJs books? Imo control is more about external factors than the fact that you as the CEO controls everything within the business (good luck with that if you want to build a big company with many employees...).

    MJ has many examples in his book so check them out.

    A simple example of missing control is a company that sells all of there products only on amazon or at walmart. If amazon/walmart kicks you out you go from hero to zero.
     
    Scot and MJ DeMarco like this.
  3. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    At that point he was filthy rich and already Unscripted. He was in that position to foster his visions for the future. And when he was let go, he went off on his own and continued with that vision. Amazing what "FU" money can do...

    The COC is more in reference to small businesses and risk mitigation. When you allow 1 entity to control your entire income stream, you're violating control and accepting some big risks. It's really no difference than a job, instead of an employer who is in control, it's some other patriarchal company.

    That said, that doesn't mean you cannot make a fortune and still violate control. There are many entrepreneurs who get 1 paycheck from Amazon, but are doing quite well. And if a control apocalypse happens (Amazon has terminated your account) they've already made significant money to buttress the occurrence.

    Ditto. COC is about 1 entity, 1 person who says, "You're done" and suddenly your income goes from SOMETHING to NOTHING. It's like getting fired.

    Hope this helps. Welcome to the forum.
     
    Frank H., ZF Lee and Scot like this.

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