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Risk exists in a spectrum. You can control the amount of risk in the game in the day to day business decision, and the type of business you get into.@heavy_industry posted a Reddit pic where a person said that we are here in an echo chamber (drinking cool aid, to be precise). What we are all missing the is issue of risk.
Risk of being an entrepreneur appears to be high. It’s the way everyone is taught to think in our society.
Recently I had a chat with a person my age and he looked me dead in the eye and said “I just couldn’t do what you do. I see all the risk, and I just couldn’t do it. My brain can see 5 moves ahead and I already know how much luck you need to succeed in business.”
This led to a rather interesting conversation that ended with “I never thought that way”.
Won’t bore you with 2 hours of chatter. What I said was simple and he’s accepted it as a mind shift.
Starting a business is far less risk than staying an employee. Every employer would rather hire someone who’s had experience in running businesses. It means that getting a job becomes easier after starting a business. And getting bigger pay is easier. And the risk that so many people are afraid to take isn’t a risk at all, but the opportunity to up your game. It’s the opposite of risk.
The guy I spoke to later came back asking for more advice. I directed him to MJ’s books and this forum.
But you know what? Even with the epiphany… I give it less than 5% chance he’ll follow through.
People don’t change. Not without insane difficulty, which is why without an FTE, it’s highly unlikely someone like him will do it.
Someone can choose to start with no capital upfront, service oriented business, no ads expenditure and work on existing networks to find clients…almost no risk…but just don’t expect huge growth or monetary reward fast.
Jobs are safe options in the short run. Confirmed cashflow. Free on the job trainings to get to learn about the industry. But if the long term wealth strategy relies only on salary then they have to answer the ultimate questions in labor economics in the 21th century.
(1) Is your job replaceable by someone distant oversea using zoom willing to work a fraction of your income?
(2) Are you irreplaceable despite automation and the acceleration in artificial intelligence?
About ten percent of the population live in high income countries/developed countries. The workers earn 3/5/10 times as workers elsewhere. This is just a one big bubble propped up by borders and political barriers. If there is freedom of movement of people in three months their wage will collapse immediately.
Bubbles always bust…either violently over slowly over time.
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