"you're unemployed, just start a business..."
without access to capital, a fall back plan, solid relationships, a deep bench of technical skills & a huge slice of luck - this is suicide
without access to capital, a fall back plan, solid relationships, a deep bench of technical skills & a huge slice of luck - this is suicide
if you don't have at least 12-18 months of your existing salary as a war chest before launching a new business... it's a real hustle
IG posts with suits, jets, yachts & lambos dress up entrepreneurship as this incredible ticket to a life of luxury
in reality it's lonely, exhausting & a relentless grind where you earn less than you did as a salaried employee for a long, long time
in reality it's lonely, exhausting & a relentless grind where you earn less than you did as a salaried employee for a long, long time
sweet spot = kicking off a new venture with the insurance policy of existing cash flow
most businesses don't run out of great ideas, they run out of time & cash
most businesses don't run out of great ideas, they run out of time & cash
entrepreneurship is a luxury
if you're going to take business advice, speak to an actual entrepreneur - not someone fresh out of business school chilling in a 9-5
https://twitter.com/iamkoshiek/status/1447558160634548228?s=20
like with hedge fund performance there's an inherent survivorship bias towards reporting entrepreneur performance
you see & hear about the rockstars, not from the founders with businesses which dissolve - it's a subset of what actually happens out there
you see & hear about the rockstars, not from the founders with businesses which dissolve - it's a subset of what actually happens out there
Haven't seen the 2021 CIPC business rescue results published, the 2020 data gives some insight into how many companies don't survive... 
the actual number of businesses that don't survive are much higher (companies that don't enter business rescue)
you're playing in an environment with endless bureaucracy, a dysfunctional government, massive inflation across basic utilities, little support for entrepreneurs, limited funding & a huge skills gap shortage
playing on hard mode without the basic tools is a recipe for failure
playing on hard mode without the basic tools is a recipe for failure
right now there's entrepreneurs on this app who will gladly take the comfort of medical aid cover, paid leave, a decent retirement contribution & the safety of stable working hours
entrepreneurship has tons of upside but there are a lack of honest convos around the trade-offs
entrepreneurship has tons of upside but there are a lack of honest convos around the trade-offs
bringing this thread back on the concept of self made
https://twitter.com/iamkoshiek/status/1217118081337741312?s=20
before you book the next expensive seminar on how to build an incredible company with a "business coach" it's worth looking at how many successful businesses they created themselves
the business of teaching business is often to make money from you & not for you
the business of teaching business is often to make money from you & not for you
as an entrepreneur, how long did it take you to break-even to your old salary?
as an entrepreneur, is your company turning a profit right now?
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