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Can entrepreneurs handle receiving a steady paycheck?

Guest post by: J Michael Mangalam

Article Overview: Survey of entreprneurs on whether they are open to become salary employees generated some interesting insights

Can entrepreneurs handle receiving a steady paycheck?

Entrepreneurs are restive souls – they like to chase the latest opportunity. The entrepreneur types can range from Kramer in Seinfeld (quixotic, idiotic) to the successful Silicon Valley types. We asked the question to ParetoCentral.com members whether a restive soul of an entrepreneur settle down to a salary job. Generally, the answer was “no” - entreprneurs may settle down a bit to take a breath and to “replenish their supplies” before going to the next one. The idea of career growth while pursuing relatively modest business upside does not appeal to most of entrepreneurs. There was also a comment that it is one thing if an entrepreneur is single and he/she does not have a family to support. In that case, he is only endangering the wellbeing of him/herself. But if there are other dependents, it is just not fair to chase entrepreneurial dreams because most of the time it is a trip to financial troubles. One useful link was a great article by Michael Arrington at Techcrunch. I recommend you check it out: techcrunch.com/2010/10/31/are-you-a-pirate/ There were stop gap measures that people recommended – such as doing side business while full time on career. It is a ok idea if the career is routine and side job won’t affect your performance at regular job. But if you have a management type job which requires your involvement 24 hours, side job can be distracting and could result in damage in both ends. The entrepreneur's age also makes a difference (in addition to family obligations). When somebody hit 40’s, and if he/she has been trying entrepreneurial ventures till that point unsuccessfully, (one respondent said) it is time to force a salary job to prepare for retirement and to cover health costs. It makes sense to us.

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Related Forum Posts
Re: What is your biggest challenge? Today? - When I first decided to become an "entrepreneur" I had a really hard time with the concept that I was no longer going to have a steady paycheck unless I got busy and earned one myself. That sense of security is what I think keeps people from going out on their own. I bet there are tons of great ideas out there but the people who have them are too insecure to take the leap and try to bring them to fruition. I feel for them but I say, "Go ahead and take the leap if you have someone that will help you when you fall. You never know until you try.".
Re: What is your biggest challenge? Today? - [quote="mbrand2222":31caod33]When I first decided to become an "entrepreneur" I had a really hard time with the concept that I was no longer going to have a steady paycheck unless I got busy and earned one myself. That sense of security is what I think keeps people from going out on their own. I bet there are tons of great ideas out there but the people who have them are too insecure to take the leap and try to bring them to fruition. I feel for them but I say, "Go ahead and take the leap if you have someone that will help you when you fall. You never know until you try.".[/quote:31caod33] Hi Mary, So how did you eventually force/motivate yourself to take the "leap of faith"?
Re: Do Women Play the Stock Market? - [quote="OmnivoreInk":21tmul10][quote="BuzzAroundBooks":21tmul10]Hi Barbara, My mother simply lets my father handle her entire stock portfolio because she believes he's more knowledgeable in the subject of "finance and money" (especially since my dad worked as an accountant for 35 years).[/quote:21tmul10] Hi, Kevin That brings up another subject! Too many women - probably not any entrepreneurs here, but housewives - let their husband handle all the money. He does everything. Then, when he dies (and most husbands die before their wives)... they are left not knowing how to balance a check book or anything! They don't know where the stocks are, they don't know where the life insurance policies are, etc. (And hopefully there [i:21tmul10]are [/i:21tmul10]some. I believe the amount of people who die intestate is over 50%, which leads to a lot of trouble - and a lot of money made for lawyers![/quote:21tmul10] I saw far too many women from my mother's generation who finished up in just that situation where they had absolutely no idea how to handle anything after their husbands died. I think that younger women today have learned to be more independent and to do more for themselves which is very important. MichelleJ
Re: Do Women Play the Stock Market? - [quote="BuzzAroundBooks":5h1fgq0c]Hi Barbara, My mother simply lets my father handle her entire stock portfolio because she believes he's more knowledgeable in the subject of "finance and money" (especially since my dad worked as an accountant for 35 years).[/quote:5h1fgq0c] Hi, Kevin That brings up another subject! Too many women - probably not any entrepreneurs here, but housewives - let their husband handle all the money. He does everything. Then, when he dies (and most husbands die before their wives)... they are left not knowing how to balance a check book or anything! They don't know where the stocks are, they don't know where the life insurance policies are, etc. (And hopefully there [i:5h1fgq0c]are [/i:5h1fgq0c]some. I believe the amount of people who die intestate is over 50%, which leads to a lot of trouble - and a lot of money made for lawyers!
Re: We got Fired - Seems interesting, I think I'll purchase it with some of my last paycheck when I decide to quit my job, haha.


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