I was interviewed recently, about the stresses associated with being an entrepreneur. Soon after the interview commenced, I was described as a serial entrepreneur. Until a year or so ago this was arguably the case, mind you, no keys to the Tuscan villa yet. This time however, I responded with a ‘No!…I’m not a serial entrepreneur; I am more a parallel type of guy”. I was joking of course, but there was an element of truth in it.
I run MCR, Christo Partners, and am a one of three in Pitch Club. Three bone fide businesses all taking my time to varying degrees during the week.
Every one who has ever advised me insisted that I needed to focus on one venture at a time, but for me it does not work. Of course if I ran 10, I would be dead from exhaustion and confusion, but three works for me nicely. It keeps my risk spread, and keeps me interested.
The interview got me thinking about how I managed to navigate my way through the last 2.5 years in terms of stress, cash-flow and the occasional night sweats. It’s not an easy thing, even for those of us who are hard wired to seek that risk. What about people who are in corporations looking to get out via entrepreneurial endeavour? Are they stuck with the either or option, job or venture, and the prospect of a wild business ride which may or may not (as is mostly the case) result in financial freedoms?
I had been discussing this with a buddy of mine Kelly McGowan who runs an online web site for six figure salaried people looking for work (sixfigures.com.au) and we talked about the changing landscape of employment and what I called the “hybrid entrepreneur”. I believe there are smart folk out there who actually don’t quit their job, but effectively use a downshift model or a job share to free up some time to undertake a venture.
The thing is that some of these people have no intention of leaving; they just hack away at their venture until it can stand on its own two feet and actually keep their job. Mad I know, but it’s effectively the same thing I do. They split their risk in half rather than work 5 days and drop savings into investments which just go up and down with the mystical ebbs and flows of the economy.
To me this hybrid career makes much more sense. It’s more interesting and it has big upside potential.
Interestingly, a Hybrid Entrepreneur (HE) in adopting new skills, will inevitably become more valuable to their employer also. Imagine someone who had to learn financial management, marketing and some online skills by actually doing it.
I think that this type of approach works well for younger entrepreneurs who don’t know if they have ‘it’ and for older people who might have families, particularly young kids or on the way.
The same skills apply.
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