In the previous post, we talked about why bigger isn’t always better. Here I want to address a related issue that keeps cropping up in conversations with new and aspiring entrepreneurs.
There seems to be a lot of buzz these days about starting your business with your “escape” in mind and I think it scares many would-be entrepreneurs because they think they have to create this machine that can function without them.
For some people, this is a great idea, but to me, it gives the same message as Tim Ferris’s “4 Hour Workweek”-that work is not fun and is something to just get over with as quickly as possible so that we can get on with the business of life. Well, that seems counter-intuitive to the flavor of creating work you love. If the purpose of starting a business is to set yourself up to stop working, then, yes, it makes sense to create a business that can run itself without you. But what about those of us who don’t even consider retirement and want to share our special gift with the world or those who want to create income out of interests and enjoy our work?
Whether you’re employed at a job that’s a poor fit or you are out of work, you are likely considering some kind of a career change. That can either mean looking for another job or starting or purchasing a business. Unless you’re just putting in time until you can retire, you probably want to do something that has meaning to you and in this economic climate, finding that perfect job is even more difficult.
Not everyone who wants to start a business aspires to be a mega tycoon. Many people just want to escape a job that’s unsatisfying and find a livelihood that pays well and is enjoyable. If you fall into the second category, it’s best to tune out a lot of the chatter about starting a business not a job for yourself because your dream job would likely be one where you work where you want, with whom you want and do the kind of work you love. Well, if it’s your business, you get to choose where you work and who you work with and what kind of work you do because you have a great boss-YOU. You choose your benefits package and the type of retirement investing you want to do and you can design an exit plan that keeps paying you if you at some point decide to stop working.
Not only is there nothing wrong with creating a job for yourself, or in some cases “buying yourself a job”, it’s a damn good solution.
In future posts, we’ll address when buying yourself a job makes sense and how you can continue to earn should you ever decide to slow down.