Any Entrepreneurs Here?

[findthejake]

ViatorU :: Online Programs for Independent Travelers

my second or third business attempt... The first one was a at-home swim lesson program and the second one i can't really remember....

I've got a million ideas an NO FOLLOW THROUGH! damn enfp...lol

[niki]

Originally Posted by Little Linguist

Oh heaven help us, no!!!!

I mean, I would love to have my own business, but I think I'd kill even the most thriving enterprise....

Just wasn't made for it, I guess.

but what if ur parents constantly nag & push you about it?..(ie: usually for "money & security" reasons)
that's where all the problems start..
everyday, all you hear is comparison to this X person, that Y person, and "why you can't be 'normal' like them" yada yada etc.
and it's hard to explain things to them too, as they think they're wiser & i'm just the same like this 15 or 16-year old kid (i'm 26 yrs old btw) still 'immature' !

[FDG]

This paper could be relevant:

http://ftp.iza.org/dp3648.pdf

quoting the abstract:

How valuable are cognitive and social abilities for entrepreneurs’ incomes as compared to
employees? We answer three questions: (1) To what extent does a composite measure of
ability affect an entrepreneur's earnings relative to employees? (2) Do different cognitive
abilities (e.g. math ability, language ability) and social ability affect earnings of entrepreneurs
and employees differently?, and (3) Does the balance in these measured ability levels affect
an individual's earnings? Our individual fixed-effects estimates of the differential returns to
ability for spells in entrepreneurship versus wage employment account for selectivity into
entrepreneurial positions as determined by fixed individual characteristics. General ability has
a stronger impact on entrepreneurial incomes than on wages. Entrepreneurs and employees
benefit from different sets of specific abilities: Language and clerical abilities have a stronger
impact on wages, whereas mathematical, social and technical ability affect entrepreneurial
incomes more strongly. The balance in the various kinds of ability also generates a higher
income, but only for entrepreneurs: This finding supports Lazear's Jack-of-all-Trades theory.

[ygolo]

Definitely interesting reading.

So if we have general, mathematical, technical, or social abilities, or if we have a good balance of abilities we'll make more on average as an entrepreneur than an employee (statistically speaking of-course).

Whereas having special abilities, especially in clerical or language skills, give no comparative advantage for being an entrepreneur over being an employee.

[ygolo]

I've been thinking about a career change too, and I really dislike working for someone else. I think that is the biggest source of the "soul sucking" feeling.

If only I could focus on something I believe has value that I personally bring to the situation. You know the whole "value proposition" thing.

I have mathematical and technical abilities, not sure if my social abilities are that good nor if I my abilities are balanced. That's the problem with these type of studies. You don't really learn how to replicate the success based on the traits shared with those who are successful.

[YourLocalJesus]

When i'm a little older I will start up an irish/scottish bar. I'm thinking about doing that when i'm closing on 30. I'm currently 21 and I know way too little about handling a company, but I will spend time interviewing bar owners and getting some minor business education. I'm a decent bartender and chef as it is, but I need to get the formal education for it. Don't get me wrong though, this isn't going to be some goddamn cocktail bar. There is however going to be drinks for all types, but it will lean towards things that normally comes from the U.K, like Newcastle brown ale and Laphroaig whiskey.

[ygolo]

Originally Posted by YourLocalJesus

When i'm a little older I will start up an irish/scottish bar. I'm thinking about doing that when i'm closing on 30. I'm currently 21 and I know way too little about handling a company, but I will spend time interviewing bar owners and getting some minor business education. I'm a decent bartender and chef as it is, but I need to get the formal education for it. Don't get me wrong though, this isn't going to be some goddamn cocktail bar. There is however going to be drinks for all types, but it will lean towards things that normally comes from the U.K, like Newcastle brown ale and Laphroaig whiskey.

It's good to have a plan.

[file cabinet]

Originally Posted by ygolo

I have mathematical and technical abilities, not sure if my social abilities are that good nor if I my abilities are balanced. That's the problem with these type of studies. You don't really learn how to replicate the success based on the traits shared with those who are successful.

do you have any friends who do any kind of consulting? what about finding ways to position yourself where you can at least pick up the skills you need? either by consulting yourself, or doing some volunteer work to get the skills you need, etc.

The more entrepreneurial people I know (all programmers) have done some consulting in one form or another but as you've made note of these people have more specialized skills which can limit their success.

I have been doing some volunteer work as a programmer and it has helped me sort of get inside of a small organization of people and see how things function and run (a non-profit is not unlike a small business). I have also worked for some smaller companies and have gained a better understanding of how they operate their businesses. I find with the volunteering stuff I do it helps get me be more involved and see more 'real' results because of the direct involvement.

my personal perspective if I was to launch into some sort of business venture, it would need to have a solid business plan and several different personality types who would be able to use their strengths to bring in business and have it all mesh together somehow. or, if it was a really awesome business/programming idea and someone threw down some venture capital (..hasn't happened yet).

[Lithium]

Originally Posted by findthejake

ViatorU :: Online Programs for Independent Travelers

my second or third business attempt... The first one was a at-home swim lesson program and the second one i can't really remember....

I've got a million ideas an NO FOLLOW THROUGH! damn enfp...lol

The site would look better if you had a flash running of different places instead of that one photograph.

[Lithium]

Originally Posted by YourLocalJesus

When i'm a little older I will start up an irish/scottish bar. I'm thinking about doing that when i'm closing on 30. I'm currently 21 and I know way too little about handling a company, but I will spend time interviewing bar owners and getting some minor business education. I'm a decent bartender and chef as it is, but I need to get the formal education for it. Don't get me wrong though, this isn't going to be some goddamn cocktail bar. There is however going to be drinks for all types, but it will lean towards things that normally comes from the U.K, like Newcastle brown ale and Laphroaig whiskey.

Newkie brown and Laphroaig isn't selling a great business. Laphroaig is a great product but you can get both of those in weatherspoon's, that also isn;t a cocktail bar.