- February 26, 2018
- Posted by: nathanwebster
- Category: Consulting
As my business partner and I celebrate three years of being in business, our rate of failure significantly decreases. It’s not due to any magic or sorcery. We have just refused to quit. However, the fight has just begun. The grind continues every day. Most businesses don’t make it 10 years.
I still like to consider us a startup. The term startup is becoming more common, not as much as a small business but it’s coming around. Most startups are very lean and nimble. We operate out of our homes, do several tasks, wear multiple hats, be a jack-of-all-trades, and cash is a scarce resource.
This life is hard. I’ve had many rounds of 9-to-5 employment, but none have been exciting enough to keep my attention. Even some of the jobs I did like, I was fired multiple times. Since most startup founders have a keen desire to be solution-oriented, the typical job doesn’t encourage such employees’ autonomy and freedom.
A new trend that I believe Google has started was allowing employees to use company time to be entrepreneurs on the clock. One of their most popular and product making headlines is the selfless driving vehicle, Waymo. The term intrapreneur is when employees have this opportunity built into their job descriptions. I believe this benefit has evolved because some companies are catching on to understanding what works to retain great employees, an opportunity for growth.
Thanks to Uber‘s breakthrough of being the ultimate disruptor of the 21st century, the Gig Economy also known as the YouEconomy has begun. The barrier to entry of starting your own company is no longer this tiring vigorous process without anything to show for. My time with Uber allowed me to use two of my greatest resources (my vehicle and smartphone) to make money. No business cards required. No business bank account required. No networking or salesman pitches required to earn a profit. It was the most addicting and easiest way to start supplementing cash to our business when the pipeline became dry. All I had to do was download the app and move the toggle to “on.”
If I can do it, anyone can do it once the background and vehicle check come back good. That’s just one way to have a hustle on the side. There are others, and I’m not talking about the old or new MLM (aka, multi-level marketing) companies.
Thanks to social media and internet making every accessible, you can have access to every resource that other businesses use. The fancier tools are proprietary. They’re custom made and cost a bunch of pretty pennies, but don’t go overboard. Keep it simple.
Your side hustle can literally be anything. With that said, your best opportunity will dictate on whether or not it fulfills a need. I’m not saying to create another social media platform. Mark Zuckerburg’s Facebook took time. Also, the countless of thousands of dollars of investment and programming iterations before it became the behemoth power as you know it today.
I haven’t created anything on that level–at least not yet–so I can’t advise. However, I do know any sweet invention will sell if quenches a need. It’s the simple rule of supply and demand. Ultimately, the marketplace will tell you if it’s a hero or zero. If people pay money for it, looks like you can start a business.
Don’t Let Fear Stop You
In the process of starting your business, don’t let fear or the unknown stop you. Discover the entrepreneur within you and let it be free. We’ve been taught to blindly follow instructions, obey rules, and do what we’re told with the understanding that the person telling us knows best. In the military, I remember hearing my sergeant’s voice saying, “You’re not being paid to think, so stop. Do as you’re told.”
All of our ancestors were hunters and gathers, so we have the entrepreneurial blood in our veins. Learning how to solve our family problems don’t have to be with a job classified ad off of Monster or the local newspaper listings.
Entrepreneurship is the wave of the future. The days of where my parents relied on the company to satisfy all their professional needs and desires are over. Big companies are scaling down, while boutiques are popping up everywhere.
Just recently, I heard a big-time consultant say something very alarming. When I heard him say this, it brought chills to my body because there are no more special advantages. In summation, he spoke to the fact that all companies have the risk of defuncting just like anyone else because of many factors, which is why the enemy to great is good. It doesn’t matter if the company has been in business for 50 or 100 years, nothing is automatic. Good won’t pay the bills. People buy from with who they know, like and trust. Only the great companies know to stay on top and keep their brand top of mind.
I write this because my business is personal because this service is for the advancement of all humanity. My failures and successes are for your gain. No strings attached.
Nathan A. Webster, MBA
Consulting | Marketing | Web Design