Following a passion isn't always instantly financially rewarding. Crafting your dream career over time while having the fall-back of a 9-5 salary is a massive luxury.
Starting up any venture needs decent capital, a solid network, time to think and mental energy. It's hard to be creative when you're burdened by the stress of survival.
Big business starts as small business.
It might be an unassuming side hustle but it's another source of income AND it has the potential to develop into something much bigger.
It's probably the Shark Tank, IG, reality show culture where we start to believe ideas instantly meet capital.
The best way to protect your equity is to grow the business early on WITHOUT external funding. Smart people with capital will get rich off your ideas & hard work.
It's always 9 to 5 vs. being an entrepreneur
It really doesn't have to be binary. A hybrid works great. Most people focus on making money when it's better to be thinking about risk.
How do you de-risk? You make sure there's always money coming in.
Do what you need to do so that one day you can do what you want to do
Nobody wakes up one day with a powerful address book, vast sums of capital, a perfectly designed business plan & clients waiting outside the door.
Leverage the corporate job to build these assets over time. Build the war chest.
Lastly, whatever you're going through right now... someone else has already felt the same, fought the same battles & have overcome the same challenges.
Leverage their experiences & learnings.
You're not alone.
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This headline sounds incredible! It makes you feel like we're ballers & shot callers! We're not! Here's why 66% GDP growth is FAR LESS impressive than it actually sounds [Thread]
1. Base effects make it look good
(doesn't refer to big booty huns)
Q2 2020 GDP DOWN 51.7%
Q3 2020 GDP UP 66.1%
What's a base effect?
If a Birkin is $100k & goes on sale at 50% it's now $50k. Then the price shoots up by 70%, it's now $85k (still $15k lower)
Math not meth!
2. Bigger isn't always better....
66.1% is an annualized figure. This assumes SA will grow at the same pace for 4 straight quarters. If you don't annualize, SA grew 13.5% from the previous quarter.
If you think annualizing is daft - StatsSA also agree. This could change soon.
If you're starting out in a space that trusts you with confidential info (like investment banking/ law/ audit)
- Never have deal convos in public
- Don't open your laptop where anyone else can see it
- Your friends/ family should never know what you're working on
Shout-out to the 4 junior bankers at a popular Sandton bar shouting to their mates about the deals they were working on last week.
You made some people very rich.
You're working on a confidential restructuring deal & find out the company one of your parent's work for is retrenching their division for cost cutting.