Entrepreneurs create opportunities, not money.
This is the biggest misconception that people have in relation to the entrepreneur principle.
Often and sometimes very often, the opportunities lead to money and therefore, people seem to associate the money with the creation of the opportunity itself.
What entrepreneurs are prepared to do, though, is to provide themselves with space and freedom, to consider and even to grab the opportunities when the chance becomes available.
Porsche released a new 911 Turbo this week. It's £220,000. That's a car for someone who earns £800,000 or £900,000, not a car for someone who earns £100,000.
If you earn £100,000 and put your name down for the new Porsche, you will trap yourself in a space where you are unable to grab any of the opportunities that come your way, because you will be too busy working somewhere that you probably don't like, trying to fund a lifestyle that you've already got used to, and therefore, blind to the possibilities of something different.
I hope you see the metaphor.
There is a trend now for financial advice online, on YouTube, on TikTok, to suggest to people that what they need first is 500 dollars (pounds) in the bank, and then the next step up is to have 6 months' worth of expenses. The reason you would have 6 months' worth of expenses saved is so you could pivot and take the opportunity when it arose.
When Steve Jobs went into Apple for the 2nd time after he had been kicked out the 1st time, he stripped the company back, got rid of the dead wood, cut the profit lines back from something like 300 to something like 7 and then sat and waited.
When he was asked by a biographer what he was waiting for, he said, “The next opportunity “.
When he was asked what it was, he said, “ I don't know yet”.
Preparing for the opportunity that you don't know is what you should be doing.
Getting caught in the failed opportunity trap is a daft conscious decision to collect stuff at the expense of better.
Blog Post Number - 4284
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