Today I responded to a query on HARO asking about “how to become an entrepreneur.” It got me thinking about what constitutes an entrepreneur and what people hope to achieve through owning their own business. I think that people both over-think the process and don’t spend enough time figuring out how to build a business that suits their lifestyle.
I came up with a quote for the reporter that I hope distills what I wanted to say. Don’t know if he’ll use it yet.
To date, I’ve started (and failed at) several businesses: personal chef, blackjack player, and importing/wholesaling Tibetan tchotkes, among others. They all failed for very good reasons, and each iteration brought me closer to my ideal business. Each time I failed, I skulked back to the working world until some new idea struck. If I’d had more confidence in myself along the way, I wouldn’t have waited so long between failures and I’d probably be farther along now.
One book changed my life and the way I look at business: Tim Ferriss’ 4 Hour Workweek. The minute I started reading it, my mind started spinning and I never looked back. What I took away from the book is this: work exists to pay your bills and fund your passions. Make it work around your lifestyle.
Several months of planning, and re-planning, and discarding those plans later, I settled on internet marketing as the ideal niche that offered the combination of flexibility and scalability I needed in a business. Essentially, I build sites, promote them, and sell advertising on them. I won’t tell you what sites I own because niche sites don’t benefit from the wrong kind of attention. I own a lot, in niches ranging from travel, to education, to finance.
I needed a business that didn’t require me to stay in a geographic location and wouldn’t collapse in my absence. Once I have my sites up and running, they can survive months on autopilot. All I need to maintain them is a laptop and an internet connection. My earnings are limited at present, but I’m still building a base. I’m hoping to be ramen-profitable by this fall.
For anyone trying to make it as an entrepreneur, or trying to pay the bills while traveling, don’t just react to every opportunity or obstacle; take the time to figure out what works for you and build on that.
photo by: Malnino
UPDATE: Mike used my quote on Toilet Paper Entrepreneur’s 163 Ways How to Become an Entrepreneur.
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