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Any Entrepreneurs Here?

niki

New member
Joined
Sep 16, 2007
Messages
210
MBTI Type
INFP
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. :blush:

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

pathwise dependent
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Aug 13, 2007
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5,903
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ENTJ
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7w8
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

My termites win
Joined
Aug 6, 2007
Messages
5,986
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

My termites win
Joined
Aug 6, 2007
Messages
5,986
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.
 

Valiant

Courage is immortality
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sx/so
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

My termites win
Joined
Aug 6, 2007
Messages
5,986
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

New member
Joined
Apr 23, 2007
Messages
411
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).
 

TickTock

Mud and rain and chaos...
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TickTock

Mud and rain and chaos...
Joined
Jan 18, 2008
Messages
948
MBTI Type
INFP
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4w3
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.
 

Synarch

Once Was
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Oct 14, 2008
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I make a decent amount freelancing outside my day job (where I work from home (have you seen my posting frequency?)). I wouldn't really consider this entrepreneurial though because I have zero employees and no real overhead.
 

Jack Flak

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Jul 17, 2008
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I make a decent amount freelancing outside my day job (where I work from home (have you seen my posting frequency?)). I would really consider this entrepreneurial though because I have zero employees and no real overhead.
Contractor. Slave. (lol)
 

Synarch

Once Was
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I guess you could see it that way. I just prefer to make money rather than watch America's Next Top Model. Also, you're making the assumption that I actually put in a full 40 on my employer's behalf, which I don't generally.

<--- slacker
 

niki

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Sep 16, 2007
Messages
210
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INFP
let's continue this thread!

so,..anybody want to share his/her enterpreneur story again?

I don't know,..
but sometimes I feel like I am so freakin' BLIND in terms of how to start up, or even run a 'business' !
& maybe this is exactly 'why' too I never got any passion in continue running my furniture-factory family-business,..no matter how strongly my Chinese family has 'pressured/forced' me to do..

sometimes I feel like "if I don't do business here in this society, I'd feel like a loser" ... :(

My real passion is in making/creating/composing/writing beautiful music.
but even that one, I've read that it also requires business-skill, in order NOT to become a "poor struggling musician" , especially in today's very-competitive era in music "industry" (argh..how i hate that term 'industry') !
why can't I just make beautiful music to share, and to inspire, and touch a lot of struggling hearts out there, in these days??..
why does it always have to be involved with 'MONEY' ?..
but then,..if there's no money, realistically, I wouldn't be able to eat, or live! arrgggh ;akldsjf;askdfj tough choice, and i'm confused as what i'm going to do, and I'm turning 27 this month!!! :(
 

LostInNerSpace

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why can't I just make beautiful music to share, and to inspire, and touch a lot of struggling hearts out there, in these days??..
why does it always have to be involved with 'MONEY' ?..
but then,..if there's no money, realistically, I wouldn't be able to eat, or live! arrgggh ;akldsjf;askdfj tough choice, and i'm confused as what i'm going to do, and I'm turning 27 this month!!! :(


One can give so much away for free before thinking, "Wait a minute! they just spent $300 million on private jets and they want me to continue working for free? What kind of bogus non-tax deductible charity is this? If they value my contribution and have the means they will pay for it. If not, they won't."
 

Fluffywolf

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Are there any Entrepreneurs/Business Owners on this forum?

If so, how did you start your business?

What was your initial business plan?

How did you get the seed capital?

How did you change your plans as time went on?

How successful is it (profitability, sustainability, providing the opportunities you wanted for yourself, etc.)?

How do you think your Myers-Briggs type influenced/influences your behavior during the start-up and growth phases of your venture?

We've a family business since 1887, needless to say I wasn't there at the time.

Ever since I was in the company, it was a taxi company at the time and not a very healthy one. The taxi market was on its low in The Netherlands and many a taxi company went bankrupt at the time. We've expanded it in 2004 with a funeral service and in 2005 with a touringcar company on the side. To expand income and stay healthy. Oh, and we get the capitol by using the same balances to finance many things. That also means that we need to work pretty hard to make every bit of investment worthwhile right away. :p

We're working on the breaking point for the last 6 years, financially only expanding in capitol. And will likely continue to do so in order to get the most out of it in the end.

The taxi company part is still below norm and not able to sustain itself, but we've leveled it out with the other two companies.

In order to fit in as an INTP, I've had to make a few sacrifices ofcourse. And develop a work-mode for myself in order to be effecient and effective. This isn't a problem at all when it's about making money. However when working with things that do not make me money, I tend to get very tired from time to time. :p
 
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