Young Successful Entrepreneur

Definitely an interesting discussion! While I do admire the bravery of [young] entrepreneurs, I’m also hoping that going the corporate route first will be beneficial.

It’s been a while since I’ve played video games and while I sort of disagree with the easy/hard part, let me stick to the analogy:

While you’re stuck on level one, I’ve moved through several levels and have probably learned a few tricks along the way. So once you finally get passed level one, you’ll still be struggling through levels 2, 3, 4, 5 while I’ve perhaps found shortcuts or “secret passage ways” to skip levels. Even though it’s on “easy” a shortcut from level 3 to 5 will work on “hard”- Remember Super Mario 3?? ha ha

I’ll take it a step further and say: while you’re still struggling with the same game (business/industry) on level 4 now, I’ve played/finished several other games and have acquired other skills along the way which will likely benefit the original game, so when I DO get back to it on “hard”, I’ll be better equipped.

I think it’s ultimately a question of time; you mentioned some of the folks who make it really big really fast. Those are the lucky few, for the rest of us, it takes time.

All that being said, hopefully I’ll move to “hard” sooner than later!! Whether you choose to take a risk and play on “hard” immediately or play a few games on “easy” before attempting “hard”, I believe we can all get princesses in the end!

Hey Ian, thanks for the thorough response.

I want to add one thing:

While we’re struggling in level 1 because it’s so hard, we have to learn and update, and get new skills. Things like a personal brand, knowledge of wp and programming, speaking in from of executives and networking, creating powerpoints and business plans.

I know that corporate people get similar training, BUT, you have to admit that MOST corporate people don’t develop a personal brand or have their own blog. Most training and learning just comes to them.

You are a very motivated individual so your training in the corporate world is complimented by a desire to develop outside of it. In that case, I will say you’re a rare case.

Yes, lets all get the Princess!

- Jun

Jun Loayza’s last blog post..FDTV Episode 24 - Promote your talents on youtube with Olivia Thai

That’s really funny. Remember though, people don’t play games just for the princess. They play games because they’re fun! Sure it feels good to beat the game, but the reason you do it is the struggles and advances you have along the way. Life is a journey not a destination. You chose the E-life because you love the game, not just because you want the princess. I remember your post that was something along the lines of “I work 14 hours a day because my work IS play.” And you’re much further than stage one. Look how far you’ve come. Just because you’re stuck on a hard boss, don’t be discouraged. You’re the beacon of hope that shines for all those who don’t have the courage to do what you’re doing. Remember that the 10% that succeed aren’t randomly chosen. Those 10% are the ones with the most determination and perseverance. They are they ones that just won’t quit, and there’s no doubt in my mind that you’re in the top 10% of that 10%, haha.

Tony’s last blog post..Buddhism and Emotional Awareness

Interesting, interesting…

I’ve had this exact discussion a few times with my friends as well. I totally agree with you that it is simply a lifestyle choice, neither is better than the other.

The world needs employees, and there’s no reason someone couldn’t be totally happy being one.

@Tony - you made an excellent point. The 10% that do succeed are NOT randomly chosen. I love this video game analogy

@Keenahn - True that

Jun Loayza’s last blog post..FDTV Episode 24 - Promote your talents on youtube with Olivia Thai

Hey guys, as the others have said it was a very interesting read

Something I recently looked at is the actual success rate of serial entrepreneurs who didn’t have a launchpad career beforehand. So here’s my take on all this:

These are who I can remember off the top of my head: Bill Gates, Steve Jobs (though he had a little soul searching time), and Mark Zuckerberg. All three of them seized upon an emerging opportunity and had a semi-marketable product in a very short amount of time. Most people gained experience, connections, money, and other things while playing the game on easy. Most people who play on easy end up never going back to hard because they got what they wanted from easy even though they planned to beat the game on easy and then try it on hard. A very small subset of them jump from easy to hard and go on to make neat things, such as Kevin Rose (though his neat thing isn’t doing so great now that they want to sell it), and even Guy Kawasaki can probably be lumped into this group.

More people nowadays it seems are doing extremely well with starting on hard immediately - but I really can’t think of any “superstars” besides the aforementioned who went this route.

So, in summary, I agree that if you choose to play on hard it’s gotta be for the journey because while you should always hope for a mega-hit, it can’t be expected! Of course, past results aren’t always a great indicator of future ones

@Stejo - There are few superstars… but there is always a chance.

In your study, what did you find gave the greatest chance of success: persistence, previous experience, the idea, or sheer luck?

Oh, and I’d like to add Bill Joy to the list! I oddly didn’t know about him till I read Outliers (another Gladwell book) and I highly recommend it!

Actually, from Outliers directly it seems that all three of those all matter a lot (and from what I’ve read elsewhere as well - though most of the other stuff I’ve read puts a decent amount of weight on the make-up of the person).

It makes the point that 10,000 hours of practice seems to be what makes someone great at something… and to get those 10,000 hours of experience you are probably going to need some luck and you’re absolutely going to need a whole lot of persistence!

True words of wisdom. Thanks Stejo.

Congrats on the offer btw! Did you accept? Let me know

Thanks, and yeah I did! I start on Tuesday

I think you’re putting corporate life and entrepreneurship into too much of a dichotomous perspective. Corporate life can be challenging too, its not like you just show up and get a predetermined check. Doctors and Lawyers open their own practices, bankers and sales people need to execute; even the waitress is an entrepreneur working of commission (tips) in a sense.

Bonds are to corporate life as the stock market is to entrepreneurship. Sure, the latter entails more risk and higher payoff, but they are both essentially a means to the same end.

As long as you just enjoy whatever you’re doing… I always thought that wealth made people happy and successful, because most of the rich people I knew were happy. I think it’s the other way around: people get to be rich and successful because they are happy and have a positive mindset. Happiness is a conscious choice, irrespective of career path, wealth, or status.

max’s last blog post..It’s Called Adulthood

Max, good to hear from you.

It’s true, the discussion began because I see so many people glorify entrepreneurship and knock on the corporate life. The conclusion to be drawn from it is that it’s a personality and lifestyle choice.

Now, I will argue that corporate life IS a walk in the park compared to entrepreneurship. The reason for this is that all you really have to do is walk into work, do what is necessary, and then go home and sleep. I am generalizing here because I’m not including Doctors in the ER room, high profile case lawyers, or directors and executives of companies.

Even you just do what is necessary in entrepreneurship, you will die. You will not get paid, no one will know your name, and you will fail. That’s why we say that we’re playing on hard.

Good input

- Jun

Jun Loayza’s last blog post..FDTV Episode 24 - Promote your talents on youtube with Olivia Thai

@Max - “Bonds are to corporate life as the stock market is to entrepreneurship.”

Excellent parallel!

Jun, I think that sums it up pretty well. Both routes are essentially means to the same end, just that one is more… exciting, I guess you could say!

Max has a good analogy indeed. Generally speaking, the stock market requires a bit more skills and active involvement while still possibly making you lose all your money. For bonds, you can generate income in a pretty steady and straightforward way that’s more hands off (60 hours of work a week is like vacation to us )

Yu-kai Chou’s last blog post..A collection and rating of Twitter apps and tools

Hey, aren’t we forgetting that there’s a third option besides corporate and entrepreneurship? You could be a bum or street musician! I’m not kidding. That is arguably an much more secure path to happiness and fulfillment if you are willing to let go of your desire for wealth and influence in favor of a simple life. Now, I’m not advocating this but it’s interesting to think about after sat down and had an hour lunch with a street musician named Rolando a few weeks ago, and wrote about it.

What it comes down to in the end is your goals, and whether your willing to live a lazy or eager lifestyle. I think both are equally valid, and it’s a personal choice, although most people make it unconsciously.

Tony’s last blog post..Eager vs. Lazy Lifestyle