The ability to make money for yourself is not just a fun daydream. It is a necessity. Your job could be taken away in an instant.
If you do not have the ability to go out and make money for yourself you can find yourself in disastrous circumstances if you are unable to get another job.
The game has changed. The players have changed.
Used to be a man could work with the same company his whole life, make a good enough salary to support his family.
He did not have to worry much about his job going to China, or India coming to him and taking his job, or having to work underneath incompetent affirmative action hires, or being discriminated against in favor of equal opportunity hires.
Today, you can lose your job at the drop of a hat with no guarantee of getting another any time soon, or with quality pay and benefits.
The good news is that there is an entire world of possibilities available to everyone. Every single person has something they are good at.
It is your duty to yourself, as a man, to exploit your qualities and cultivate the ability to make money on your own without an HR representative deciding whether or not you are worthy of employment.
What about my degree? Doesn't that guarantee me a good job?
Unless you studied medicine, engineering, law, computer science or something similar you probably have a useless degree. Don't feel too bad, there are millions just like you.
Think of it as a very expensive lesson: You can rely on yourself and only on yourself.
A degree is a guarantee of nothing.
7 Reasons to Start Your Own Business
1) Your job isn't safe and in your control unless you are the HMFIC (Head Mother-fucker in charge).
2) Hard work doesn't pay off unless the results of your hard work and dedication go directly into your pocket.
In the corporate world the only thing that pays off is your ability to play the game and woo the psychopaths in charge.
3) Even if you continue to work a job you will have multiple streams of income, one of the most important aspects of wealth building.
4) When you are working for yourself you are freer than working for a company. Take vacation time or sick time whenever you please with no consideration for the amount of sick days or vacation days HR has graciously given to you.
5) Working forty hours a week, 5 days a week (before over-time) in a drab office is overkill. It's too much. One could work 20 hours per week, 2-3 days per week in the office and produce the same results and enjoy a better quality of life. Working for yourself allows you to pick and choose your hours and modify as necessary.
6) Your job is no guarantee of a future. The economy has no guarantee of recovery. There is no guarantee that 3rd world immigrants are ever going to stop entering your country to work for less than you. There is no guarantee that there will be more jobs created. The only guarantee you have is the skill-set you possess and your determination.
7) Working in a corporate office is soul-killing. It's dull, drab and boring. There is no better cure for the blues than to stare at a check with your name on it and a whole bunch of zeroes.
The Four Ways to Make Money On Your Own
Selling Goods - Can you make something that will sell? This can include art, furniture, mechanical devices, computer programs or anything you can build.
Selling Services - Not everyone has the ability to make money using their mind. If you are good with your hands and have a skill-set (plumbing, carpentry, auto-mechanic) you will always have the ability to make money because people will always need work done.
Selling Information - This can range from becoming a consultant to selling information via books, seminars or selling information online. In what area do you possess knowledge? That knowledge can be sold.
Side note: I met a woman in the Seattle airport who was a Corporate Change Consultant. If she can make a good living doing something so ridiculous then anyone can make money by providing value or the illusion of value.
Be a Middle Man - Buy from person A at $10 apiece, sell to person B for $11 apiece. This can include importing and exporting goods, buying and selling cars, houses, guns, jewelry or baseball cards. Anything there is a market for can be exploited by a smart and savvy person.
You may have noticed it's all about SALESMANSHIP. To venture out on your own you are required to sell yourself and to sell yourself well. You must have the confidence of a salesman.
You must present yourself as an expert in your field. You will have to ask, or market, for business. You will have to negotiate payment and ask (or demand) payment. If you don't have the cojones to do this then you will not make it far on your own.
More than any skill, it takes gumption to go out on your own. If you can't make a phone call to a stranger and speak of your business then you can't make money on your own.
What's the rule? BE BOLD.
It takes brass balls.
How to Get Started
The way to get started is to concentrate on making your first bit of money. Putting all your extra time and energy into your side business with the intent of making it BIG. Even if you have no plans of ever leaving your job you will still have the extra income stream and the ability to make money on your own if the time should come.
If it is your goal to leave your 9-5 job forever then another step you must take is reducing your expenses. You will likely have a tough go of it at first and not have much extra money. It is imperative that you have only necessary and not frivolous expenses and bills.
Visualize your success. If you constantly think “this isn't going to work. I'm never going to make any money” then you are right. You must think You must know it is going to work beyond a shadow of any doubt.
Make it your HABIT to work on your business every single day. If you cannot develop and maintain consistent winning habits then a business venture will never, ever work for you. Grab 30 Days of Discipline and follow those steps.
You've got to be an actor. Even if you are just starting out in your new venture you must never come across as inept and clueless. You will learn as you go, but at first, depending on what field it is, you must fake it until you are comfortable.
You've got to be an economic survivalist, you have to prepare for the future. Anything can happen at any time. A man relies only on himself.
Preparation, Visualization, Execution.
“They're sitting out there waiting to give you their money. Are you gonna take it? Are you man enough to take it?”
-Glengarry Glen Ross
Hi Vic
Like always I totally agree with this, I’m a fresh graduate, and I’m currently getting my CMA certification, my dream is to become an Entrepreneur, and start my own small business and see it grow with time, I own a land in Palestine and I’m thinking of making\building a Paintball business, it will be the only one in Palestine. I’m currently conducting a feasibility study for establishing it.
I don’t wanna become an employee for several reasons:
1- I saw how most employers treat their employees, and I would never let someone treat me as if I was less than him (I didn’t say her, because I would rather die than work under the command of a woman).
2- I will never feel satisfied doing all the work and in the end it would be for the benefit of someone else, when you work for yourself you yield all the benefits.
3- Starting your own business has a very high risk (with equally high returns) and that gives me a huge adrenaline rush :D.
4- Like you mentioned, you get to decide when to work and when to relax.
5- Also even the time you choose to work in won’t feel to you like working, because you are doing something that you love.
Thanks again Mr, Pride for keeping our race alive, and by our race I mean “MEN”
Hisham,
I was completely unaware that paintball was popular outside of the west. I guess it goes to show that wargames and competition is universal amongst men. Good luck.
Victor, I have plans to make a tech startup after I Get my organic chemistry PhD. Lets see mid 100s in industry or keeping all the value I produce. Not really a tough choice.
Big John,
Organic Chemistry sounds pretty tough to me. Kudos.
Currently working on software inspired by DelusionDamage’s internet freedom/data haven idea.
I’m on my 3rd iteration of prototyping and should be sending copies out to alpha testers by the end of the month.
Beta testing should be starting in May. Email me if you want to be on the list of beta testers.
Keep up the good work, VP!
re: “Currently working on software inspired by DelusionDamage’s internet freedom/data haven idea.”
I have no idea what you’re talking about, but it sounds intriguing. Good luck.
Whatcha talking bout willis?
Studying international/sport/petroleum.. laws is pretty logical eh?
Opportunity Cost:
” 1. the loss of potential gain from other alternatives when one alternative is chosen.”
The average income of the self employed is between $26k - $43,000 per year.
The average self employed makes slightly over minimum wage. ($8-13/hr 60/hr week).
The self employed have a 400% higher personal debt than those traditionally employed. (self funded/personally secured debt to fund start up).
Start ups have a 44- 70% failure rate within the first 3 to10 years. (typically after self-funding dries up)
Not to discourage entrepreneurship, but to help focus on the reality of the self employed/start up environment. I recommend part time self employment while maintaining a full time job. If the 60-90 hr work week is more than one can handle, the start up will likely fail.
Best of luck. I did it, so can you!
http://www.economicmodeling.com/2012/07/18/characteristics-of-the-self-employed/
http://www.businessinsider.com/the-realities-of-being-self-employed-2012-8
http://www.theguardian.com/money/2013/jan/22/self-employed-struggling-debts-beyond-earnings
http://www.statisticbrain.com/startup-failure-by-industry/
When you say 9 till 5 are you talking about a general sales type office job? What if I happen to be a psychologist get paid handsomely and have projects like being a landlord to a few houses? Would you still say give it up or crack on if you are like that 9 till 5
Funny. I just had a “Pride” moment today. I do not work 40 hours any longer from an office. I have scaled down to about 28 hours. In total. Meaning I work 28 hours now. And a good amount of that is from home. That way I am increasingly focusing on the internet biz after the 28 hours are done. Anyway, I was driving to my gym and suddenly got stuck in huge traffic as in not moving an inch. I was just sitting there thinking “this is terrible.” Cars honking long and loud, people angry. And it just sat there for like 20 minutes and moved probably three feet. I thought of VIctor Pride right there and said to myself: “You DON’T have to to this.” You don’t have to go the gym. The traffic is insane. Workout at home today.with the weights I have. These other poor saps HAVE TO stay in that traffic because I am sure 90% of them were work related or “obligation” kinds of things since they are in the slave wage trap. I saw a car or two when they could make a left turn. Most could not do that because they HAD to go in a particular direction. Finally when I could make the left. I did.. A U turn and headed right back. I then popped into a store for a bit and when I came out, I could still see and HEAR the massive amount of traffic and I thought” THAT is slavery” or certainly servitude. I then drove back home… HAPPILY! If you don’t make a POINT to break out of the slave trap, then that is EXACTLY what you will be.. Been there, done that. Still one to a degree but for sure LESS and eventually will not be at all!
I’m curious, though.
Victor promotes entrepreneurship but are all jobs THAT bad? Or is he attacking the corporate sector mostly?
What of firefighting, paramedics, military and police? I’d think for the short term at least, they’d be fine jobs to do. Any others that you would consider appropriate?
I know there are many super solid habits on B&D. What do you guys think about Stephen Covey, author of “The 7 Habits of Highly Effective People?”
“You’ve got to be an economic survivalist” Couldn´t agree more. Surviving in todays world isn´t the same as it was for the neandertals. It´s nice to have to have some hunting and firemaking skills, but to live an enjoyable life, we better make some cash. As a school-dropout, I am forced to live very minimalistic and have trouble finding a “good job”, while my childhood friends drive around in their new cars and brag about their comfortable working places. Couldn´t care less. Yesterday I had a meeting with some investors, quite like shark tank, but without the cameras n shit. I stood there looking like a bum, because i couldn´t afford a suit, but told them about my idea with confidence.
They were quity excited and agreed that it´s a good idea, and now my patent and a prototype are in the making. Welcome to the jungle, go get some.
Word! I AM GOING TO BALL!