Entrepreneurship Is Not For Everyone

Entrepreneurship is not for everyone

Being an entrepreneur is cool right now, but let’s be honest – entrepreneurship is not for most of us. To put it another way – anybody can be an entrepreneur, but most people probably shouldn’t.

I went on a spontaneous Facebook live rant about this very topic a few months ago, so if you don’t feel like reading this post just scroll to the bottom and watch the video.

I’ve had almost every kind of job you can imagine – working in bars, security, the military, restaurants, teaching – and without a doubt being an entrepreneur is the hardest thing I’ve ever done in my life. Doubly so since I started a family.

If you think being an entrepreneur means more time off, less stress, and living a life of swag and leisure, well I hate to break it to you but you’re deluding yourself. That kind of lifestyle doesn’t happen until you make it, and making it doesn’t happen overnight unless you’re insanely lucky.

For most entrepreneurs it takes years of grinding.

For most of us, there is the daily grind and hustle. The constant struggle to stay motivated while working ridiculously long hours (not counting the sneaky work you do on weekends) and having very little time off.

Did I mention that it gets doubly hard when you have a family? Balancing family time with building your business is an eternal struggle. Thinking about playing Xbox after the kids go to bed? Forget it mate, you’ve got proposals to write and contracts to review.

As I said, when you get there it’s worth it. I’m not where I want to be yet, but I’m getting there. I’m far enough along the entrepreneurial journey that going back to a 9 to 5 simply isn’t an option. A “regular job” couldn’t provide for my family the way I can, nor will it ever let me provide for them in the future to the level that I want to.

So, before you hitch your wagon to being an entrepreneur, ask yourself (and be deadly honest)- is this really for me? Am I willing to work harder, sacrifice more, fail, start over and have less until I make it? If you’re not being honest with yourself about your commitment then you are setting yourself up to fail, and your valuable energy would be better spent elsewhere.

(Click here to view the video if you’re reading this post in the newsletter!)

Work On, Not In Your Business

A huge mistake I’ve made is thinking that I can handle everything myself. If I don’t know it, I’ll learn it. It’s an approach that certainly gets things done but it is not in any way efficient.

In fact, it’s about as far from efficient as you can get and in many ways it can be detrimental to your business. If you’re working on the minutiae and administration of your business – the bookkeeping, the website updates, trying to mentally untangle lease agreements and legalese, then you’re not actually spending time growing and developing your business.

You’re not moving the needle.

A $200 dollar an hour might sound expensive if you need a lawyer to look over a contract, but it’s probably way less than the potential lost revenue from you spending 8 hours trying to decipher a document when you could be hustling for new business. Plus the lawyer brings years of experience that you don’t have which allows her to point out important, potentially deal-breaking things that you a may otherwise miss!

As a small business owner, there are certainly some skills that are definitely worth learning and not farming out – social media marketing – but generally, you should surround yourself with those who are already experts and use their skills and judgment to your advantage.

Even if you’re just starting out and don’t have much cash to hire consultants, freelancers or staff, you can always barter for services and skills, and a host of sites exist where you can farm out business services for as little at five bucks.

Time is your most valuable commodity you have, don’t waste it working in your business. Spend it working on your business.

Every Castle Is Built On Strong Foundations

Every Castle IS Built On Strong Foundations

Castles stand strong for hundreds of years, and even when they fall or are destroyed the foundations remain.

I took this image while playing in the park with my son. Watching Malcolm intently collect and build his small pile of stones (“baby boulders” as he calls them) evoked a memory of working with my grandfather when I was only seven or eight years of age, laying foundations for walls and the extensions for the house in which my grandparents still live.

It’s amazing how much my grandfather thought me about life and work ethic, and I was completely unaware he was doing it. He may even have been unaware too. I hope I can do the same for my kids.

If a job is worth doing, it’s worth doing well. In order to do a job efficiently and to excel, you need more than just the enthusiasm to do it – you need the skills.

If you want your business to survive you cannot rely on your natural talent alone. You have to build strong foundations both within yourself and within your company.

Everybody has a natural talent at something, whether it’s hustling, networking, coding, building or something else that applies to your business. But the truth is that people who are talented at everything they need to do are almost impossible to find. I’m certainly not one of them.

Mere mortals like you and I, have to make up for our lack of natural talent through continuous self-improvement – through education, practice, implementation and grinding until we get those skills down.

Natural talent is awesome, but in most fields it can be surpassed by those willing to learn the fundamentals and continuously practice and improve. Those who build upon their natural talent become exceptional.

If your castle collapses or has to face a new and unexpected challenge, then having strong foundations will make it easier to weather the storm, to build again, or even to expand with a few extensions.

It’s Better To Make Marketing Mistakes Than Not Try At All

I had a very pleasant conversation with a someone who is stepping into the role of social media marketer at a small business that currently engages in almost no online marketing.

While I believe she will do very well in the position, she asked one poignant question that always comes up with clients new to social media marketing: “What if I make a mistake?”

The short answer is that it’s okay to make mistakes. Treat every mistake as a learning opportunity.

Thankfully I recorded a video about just that topic on my way to the office this morning.

The Case Against Having An Agency Manage Your Social Media

Nobody knows your small business like you do. Nobody knows your customers like you do. Unless you’ve got deep pockets to hire the best talent it’s almost impossible to get a surrogate to speak on your behalf with your knowledge, passion, and insight into your small business and your customers.

Sure you can use an agency to take the grunt work out of your social media. Need an infographic done? Collect the data and farm it out. Need a video edited, your website tweaked, or a banner created for you Facebook page? Farm out the work. Need someone to help you with your strategy, editorial calendar and get you set up with the tools you need to do the job efficiently – hire someone!

Need to respond to a customer or patient who had a bad experience at your practice or small business – you need to do that yourself. You’d be pissed at being put on the long finger by some faceless agency woman, so why would you expect any different of your most valuable assets – your customers?

Want to tell your story as authentically as possible? YOU need to tell your story, engage your customers, and be on the front lines of your social media accounts so that you can listen to what your customers are telling you and seize those opportunities.

Managing social media isn’t like war. Sitting back 200 miles behind the front lines sipping chardonnay and only reading reports while the agency troops do the interacting means that you will be unplugged from vital information about what your competitors are doing and what your customers really want. In a small business, you can’t be the social media General that only sees the big picture as reported to you – the key to social media is in the details. The key is in getting dirty, hearing first hand what your customers want and spotting the trends before they occur – an ability that only comes from being in the trenches.

Put in the work. Do your 6 hours a week (minimum) and you will see the payoff.

Messaging Inside The YouTube App Will Be Huge!

Video on the internet is huge! Messaging is huge too (and bots inside messaging platforms). It doesn’t take a rocket scientist to realize that messaging and native sharing within the YouTube app is only going to mean more video views for those investing in the platform.

The sharing model within the YouTube app is broken. The only options to share a YouTube video from my Nexus 6P are outside of the YouTube experience (yes Google Plus is outside of the YouTube experience) and into other platforms. That’s great for exposure on other platforms, but when you want to keep people inside your platform consuming content, it doesn’t make great sense.

If your target audience is anybody in the 16- 44 age range and your content is actually worth sharing then this is great news.

The Asterisk – The Enemy Of Honesty

Asterisk - The Enemy of HonestySpare a thought for the humble asterisk (*). It has so many uses, yet none as reviled as its use in marketing. Every time you see one you know that there are special terms and conditions that apply, and that things just aren’t what the seem

Unlimited* is never the same as truly unlimited. Free* is never truly free. If the asterisk is making an appearance on your marketing material then customers will never trust what they read.

Even though it’s universally accepted in marketing, the asterisk is a small little star that casts a huge shadow on our integrity. We use the asterisk to cover our blatant lies and it makes us all feel a little dirty.

Let’s remove the asterisk from marketing and allow our clients and customers to start trusting their eyes and out word.

Let’s make reaching for your spectacles and the magnifying glass to wade through the fine print a thing of the past.

Let’s return the asterisk to the domains of mathematics, linguistics, computer programming and cricket – places where it’s uses are myriad, useful and not deceptive.

And while we’re at it, let’s kill the 30 seconds of high-speed gibberish that explains how the advert was lying at the end of every other radio advert….

Podcasting and Social Proof – A Missed Opportunity

Podcasting and Soaccial Proof - Paul OFlaherty

There’s a missed opportunity for podcast hosting companies such as Libsyn, Blubrry and now SoundCloud, to bring social proof to podcasting simply by opening up an API that allows plugins to poll download numbers and display them next to podcast players.

Blubrry already has the excellent PowerPress plugin, which I am sure the vast majority of WordPress based podcasters use regardless of where they host their media, so it should be really easy for them to add it. Libsyn and other providers could get involved simply by releasing a plugin that checks the filename in the enclosure custom field, polls an API every few hours (or once a day even) and allows podcasters to display a chiclet or some text- just like folks do for newsletter subscriber numbers, Facebook subscribers, Twitter followers and YouTube views. SoundCloud could start by making RSS downloads (a podcasters lifeblood) part of the reported public stats instead of hiding the numbers away privately and only showing the “on SoundCloud” plays.

Why would we want this? Because social proof works when building an audience. It’s easier to pick up more followers or downloads the more you already have – then it’s up to you to keep them.

iTunes and it’s frankly poor podcast search, should not be the only social proof that podcasters have.