Podcast 46: The Myth of Security

The Truth About Uncertainty in Entrepreneurship

Most aspiring Entrepreneurs never make “the leap” into the world of entrepreneurship because of their misconceptions of uncertainty in entrepreneurship. They assume that having a job is more financially secure and that they’re “giving up” this security by venturing out on their own. But this is a myth.

The truth is, when you work for someone else, 100% of your income depends on that job. If you lose that job (which can happen any time, and for almost any reason these days), you lose ALL of your income in one sweep. But that’s just the beginning of the problems with being employed by someone else.

The second problem is that an out-of-work employee has to search for another job under the desperate conditions of having ZERO income. This desperation makes it harder to negotiate a good salary or to wait for the best opportunity and say no to mediocre ones. When you’re out of work and looking for a new employer, you’re under tremendous personal pressure to take the first job offer they get, in hopes that something better will “come along” in the future. 

But, when you’re an entrepreneur, you draw your income from multiple clients, or multiple sources. So, if one client leaves you, or if one of your income streams dries up, you still have other clients or income streams to sustain you while you look for other clients. Furthermore, if you understand the Principles of Marketing, you can set up systems that will attract a steady stream of potential clients to your business.

None of this is possible when you’re working for someone else. You’re 100% dependent on your employer for all of your income. If you lose your job, you lose everything. So, don’t believe the myths about uncertainty in entrepreneurship. It’s simply a matter of perspective. Once you understand this, you’ll have much, much less fear and anxiety about leaving your “steady” job and becoming an entrepreneur. 

Goals and Progress

Professional

Health

  • Vegan Diet: Day 94.
  • Strength Training: Day 50
  • Body Weight: 236lbs (Goal 185).

Spiritual

  • Memorized: Torah, Genesis, Chapters 1-2.
  • Memorized: The Kybalion, Chapters 1-2.
  • Memorized: The Yoga Sutras of Patanjali, Books 1-2.
  • Memorized: The Tao Te Ching, Books 1-2.
  • Memorized: The Dhammapada, Book One.
  • Memorized: The Bhagavad-Gita, Book One.
  • Memorized: The Isha Upanishad.
  • Memorized: The Science of Getting Rich, Chapter One.
-Best