I’ve been asked this question many times since our pre-launch, back in March. Here are a few other typical questions I get most often:
Wow that’s cool, I’ve read a lot about e-commerce, it seems like you can make a lot of easy money fairly quick these days?
I’d love to be able to do that too, but I don’t have the time, knowledge nor the guts. What can I do to make it happen?
Anyways, a lot of interesting questions and feedback, that’s for sure. I am all about transparency and the mutual benefits of sharing knowledge & opinions, so here are some of my views and reflexions.
1 – Everyone’s an entrepreneur
First of all, what is it like to be an entrepreneur?
Based on my personal experience, being an entrepreneur is somewhat like being a parent. The only way to truly understand what it’s like is by jumping in and do it. It’s not easy to explain, but as I don’t want to get into the deep meaning of the definition, my way to explain what it’s like being an entrepreneur would be to compare it to a roller coaster ride; lots of highs & lows, exhilarating and depressing… sometimes, all within the same day. It can also give you a sense of hopefulness, anxiousness, and freedom, but at the same time bound you by the need to deliver on your promises.
My personal journey to realizing that I was an entrepreneur was when I felt like I had to start all over again, even when I had reached and surpassed my objectives. Yeah, I know it’s not always a good thing, but never being satisfied and the feeling that I could have done more is the story of my professional life.
So is everyone an entrepreneur? Clearly not. And that’s fine.
You’re not any better because you are, you just find interests where other don’t. That’s it. It’s not about being special or anything. Like in everything else, knowing and understanding your strengths and weaknesses is a major asset and if you have the idea of starting a business, you should start by honestly asking yourself if you want to live this entrepreneur life, with all its extreme high and lows.
This brings me back to the main topic of this article:
2 – Is it easy to start a project like MRWCo?
Honestly, YES. It’s quite easy to “start” and it doesn’t require much skills.
What’s not so easy are things like: being patient, not quitting, learning from your mistakes, tuning out the naysayers and to just keep going. With the amount of online resources, market outreach and communication channels at our disposal, there’s no excuse not to jump in and start, if this is something you really want.
Don’t get me wrong, it will be exhausting and you better be ready to hustle! Every time you have doubts, remember that you’re changing your life and probably the lives of people around you and your customers’ as well… and that’s not nothing!
We all have moments where we can’t seem to make it happen by ourselves and that’s when the importance of having an advisor or a friend, whom you trust, comes in. Sometimes we just need to hear someone else’s perspective when we face the dreaded wall.
I’ve never heard of any entrepreneur that had it ALL figured out from the start, and even more, all by himself!
One last advice… Here’s a myth we all need to ignore: “Don’t stop when you’re tired, stop when you’re done.” There is no shame in taking breaks and setting time aside to reflect. It may mean going slower or possibly even faster in the long run, if that makes any sense. Taking time for yourself and spending time with people around you might just be what you need to break through and in the end, save you from burning out.
A little progress each day, adds up to big results.
3 – Going all in vs starting on the side
Don’t be fooled by your Facebook feed. Digital social appearance is so strong nowadays that it may seem that everyone around you is “killing it” and that you have to quit your “boring 9 to 5 situation” to go travel around the world on passive incomes.
You may also start believing that you’re somehow not as committed if you aren’t dedicating every waking hour to working on your life plan. If you have personal and/or financial responsibilities like kids and a mortgage, starting your business on the side while keeping your full-time employment might be the best approach for you and it’s totally fine. It will show that you are capable of managing your time and finances responsibly. This said, your current 9 to 5 will become more like 6 am to midnight. And weekends… What’s that?
You can choose to quit your full-time job once you hit a significant milestone that you know will give you the space and freedom to succeed, but be careful of the “one-time lump sum” that won’t transform into recurrent revenues. When you start to see recurring revenues over the course of 3–6 months, that can be a good time to leave your job. Once done, you’ll most likely be able to generate even more revenues, since your business will have your full attention.
4 – Abandon the “Short Term” attitude
Yeah I know we’re living in a world where people want it now and to retire by the age of 30. Here’s the thing, regardless of the effort you put into your project, you probably won’t be rich anytime soon! If someone tries to sell you the “How to generate 6 figures in a month” story… Turnaround and run.
Most of the successful people we know set long-term goals and they know these aims are merely the result of short-term habits that they need to do every day.
It’s not the same thing to “start a business to get rich”, and to “start a business because it’s who you are”.
Did you really get what my last sentence was about?