One of the number one regrets people have on their deathbed is that they didn’t take more risks. Research, research, research shows this over and over and over again.
So You Want to Quit Your Job And Be An Entrepreneur
So you wanna quit your job and be an entrepreneur. Okay, listen, I sounded so salesy, didn’t I? My name’s Christopher Lawrence and I’m with changemylifecoaching.ca, changemybusinesscoaching.ca and healthytransformations.ca program. Listen, so many people wanna quit their jobs and to do something more entrepreneurial. So here’s what I would say. If you have that entrepreneurial itch, you better scratch it. Otherwise, you’re gonna get to the end of your life and you’re gonna wanna know that you had done something and you’ll have regrets. One of the number regrets people have on their deathbed is that they didn’t take more risks. Research, research, research shows this over and over and over again.
80% of Businesses Fail Within the First Five Years
So here’s what I would say. Do you quit your job and go do it? That’s what I did. I walked away from a six figure job and I had one life coaching client who paid me $50 a month. Yeah, hashtag life choices. It was hard but it got me motivated. On the flip side, I think that there are different decisions that I would have made. I might have negotiated working part-time to try and get some of this rolling. Whatever you do decide to do, I think what you need to do is if you have the itch, you need to scratch it. You need to go test out what it means to be an entrepreneur. You might test out a couple of different kinds of businesses or concepts and you just remember, lots of people, I’ve worked with a few people who say every business I start, it fails and what I would say is that here’s what you need to know. 80% of businesses fail within the first five years. 95% of businesses are gone after 10 years. So we’re talking like everything from somebody who might be in network marketing or whatever it happens to be, right?
Measure Your Success by What You Are Learning
So just don’t call success having a successful business ’cause you have a 95% chance of not being in business within 10 years, right? What I would say instead is measure your success by what you’re learning and how you’re challenging yourself and each little progress that you make along the way and actually, sometimes the success is that you closed your business. It’s like, success was closing my business. I learned so much and I learned that that wasn’t for me. So that’s a huge success. How could that not be a success, right, but if you’re only success is having a successful business that sustains you for the rest of your life, small chance that you’re gonna get there.
Manage Your Expectations
I’d love to hear your comments below on entrepreneurial endeavors that you have tried. I can tell you that in my company, probably about, in the beginning it was about 90% of our new initiatives failed and now we’re probably about 50/50 so we’ve got a lot more reassurance about the initiatives that we put out there. Certainly longer lasting industries can increase their successes but if you’re at that BD level, you know like if you’re in business development, you know that most of your tire kicking turns into nothing. So that’s real life, right, and so that doesn’t mean that we shouldn’t try. It means that we should definitely try but we do so with the perspective of managing our expectations and leaning in really hard, learning a ton and having fun. Christopher Lawrence, Change My Life Coaching. Hopefully that was helpful. Post below some of your entrepreneurial endeavors. I’d love to hear about them.