A question for entrepreneurs.

[Mada_]

Is an effective strategy for starting a business to work a normal job to finance a passion, and attempt to make your initial business a reflection of you deepest values? e.g. Leo loves personal development, so Actualized.org is a personal development channel.

Or do you go straight for a wellspring of wealth first (e.g. Reselling, drop shipping) and then transition to a business that is your passion?

 

I feel like I kind of answered my own question as I wrote it (I always do that lol.) But I'd love to hear some of your journeys, and any advice you might have.

The steps I have taken recently towards entrepreneurship

- Begun the LP course

- Collected a list of finance resources e.g. Youtube channels, podcasts, books

- Applied for a job at a Dominos to fund my first project

- Strategizing and planning. I plan to launch my first project after saving money for a part-time job, and finishing the LP course.

[Mada_]

Bump. 

[Nahm]

Going perfectly. ?

 

[Average Investor]

Yeah, just be willing to put in the work and if you love what you do it sure makes it a lot easier. 

I'd suggest working on it now in any way that you can and the finances will come in time. 

5 hours ago, Mada_ said:

wellspring of wealth first (e.g. Reselling, drop shipping)

That is just going to take up a bunch of time and resources and won't make you anything unless you seriously grind as hard if not harder than you would on any other business you might choose. Most of the programs and results are BS for this stuff. Not to mention platforms like eBay will ban you for drop shipping. You can do it on Amazon though. The process of getting ungated, finding niches, etc is a lot. Not to mention there is a lot of vicious sellers on there who will buy your products and try to get you banned if you are in their category. 

The more you learn on the industry you are in, then the faster you will grow and you will enjoy it more as a result. Keep adding to your library of books with various business books. I really found incorporate and grow rich useful and only the paranoid survive as some of my favorites. Steve jobs biography is really good too. 

[Identity]

You are walking a certain path. It's like each step you take an infinite amount of new paths open up. Every step you choose a direction. As you take more steps, your direction gets more momentum.

By consistantly taking steps in the direction your heart desires, you still step by step start to create more beauty.

Whether you are able to directly set the step to the place where you are financially independent based on your passion, depends much about where you are on your path and what momentum you have created with previous steps.

The most important thing is that next step you are taking every day. Seems to me that you are planting your feet consciously  

For me, my momentum had come to a very low point. It has taken my three years to gain momentum back. Now I have two businesses build on my values and more momentum is coming behind them day-by-day. Fully relying on them financially is not yet possible, so I am doing some other things as well, as training wheels.

It's kind of like a plane, where financially depending on your business is taking off the ground and starting to fly. Whether you are able to do it or not, largely depends on the speed you have gathered. The effort you are putting in is your acceleration. 

Are you ready to fly?  

[Sahil Pandit]

@Mada_ Keep moving forward. Develop your values, take more and more action. Ask good questions and absorb good information as you go along. 

I would reccomend taking lots of time to really figure out your top strengths and values... it really does start there.

A dominos job would not be ideal, but hey, it'll allow you to day dream and somewhat think about what you'd rather be doing.

 

[Mada_]

@Nahm @Average Investor @Identity @Sahil Pandit Thankyou so much for all of these powerful responses, they have truly lit me up inside.