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Ready to Be an Entrepreneur? Here's How to Make Your Second Act a Success.

Ready to Be an Entrepreneur? Here's How to Make Your Second Act a Success.

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  • Good tips here, it's definitely not something that is a light bulb overnight thing, it takes time and deep thought. I think the most important is not to do it because you want to live an entrepreneur's life or because you hate your current job. Too many ppl want the image of being an entrepreneur but

    Good tips here, it's definitely not something that is a light bulb overnight thing, it takes time and deep thought. I think the most important is not to do it because you want to live an entrepreneur's life or because you hate your current job. Too many ppl want the image of being an entrepreneur but not the blood, sweat, and tears that comes with being a real one.

    Do it because you care and want to deeply solve a pain point and/or that you truly believe it will make the world a better place. Like Nike's founder, Phil Knight, believed simply that if more ppl ran, it would make the world a better and happier place. That's what he sold, it wasn't shoes, but his belief.

    Although the best startups and businesses are purpose driven, it starts with curiosity and exploring. So if ppl hate their job and start exploring their curiosity, pain points, innate talents to passions, they usually find a deep sense of purpose along that journey.

    The saying entrepreneurs sacrifice many years of their life living like most can't until eventually they succeed and figure it out (if they are lucky) then they can live the rest of their life like most don't.

  • Missing a HUGE tip here. Learn a new skill. And spend time with your teens - ask them what they and their friends care about. It’s a gold mine of insights and sensitivities.

  • Great advice. That’s how I transitioned from being a therapist to building up a practice (a few years shy of my 40).

    I believe we are encountering 4th wave of industrial revolution where we are experiencing societal shift. Farming is no longer in vogue and mass production has moved to overseas. I’m

    Great advice. That’s how I transitioned from being a therapist to building up a practice (a few years shy of my 40).

    I believe we are encountering 4th wave of industrial revolution where we are experiencing societal shift. Farming is no longer in vogue and mass production has moved to overseas. I’m in Palo Alto so digital start ups are still fervent (but there are other silicon cities in the world, SV is no longer the it-town, but that’s another topic for another day). I also notice folks are less drawn to corporate and opting for small non-tech businesses for the ownership, control, and freedom. It ranges to bakery to teaching an online craft class. They might use digital to promote their small businesses or distribute products.

    I think women in their 40s take the leap because life priority has changed. Speaking for myself, nowadays I got kids and I value time more than money or impressing a boss to get promoted. Another thing I notice is more women in their 40s start new businesses because of ageism for women in corporate (at least in SV), but that’s another topic for another day.

  • These are great, practical tips, especially about maintaining and building your support network and having some financial cushion. One other tip I would add is that if your health insurance is through your employer and is not portable, get a health checkup.

  • Yes. I've always had my own business. From contractor to farmer. Let's not confuse good managerial gifts with entrepreneurship. All have talents and gifts. Entrepreneurship, manager and technician. We major in one of these categories. The other two are present. I've seen techs think they can be an entrepreneur

    Yes. I've always had my own business. From contractor to farmer. Let's not confuse good managerial gifts with entrepreneurship. All have talents and gifts. Entrepreneurship, manager and technician. We major in one of these categories. The other two are present. I've seen techs think they can be an entrepreneur, this is rare. I've met students in college going for entrepreneur degree, not one upon questioning is an entrepreneur. Managers and techs yes. As a contractor I was and still am married to the best manager I've seen. Knowing how to do the work is one thing but doing it well is another, so I found good techs. There is an E-myth in the land. Know your talents and gifts, saves a lot of pain and anxiety.

  • It’s always important to allow the reality of life to go along with your dream while you build your company. To make your company come through; you have to be real, no take things to serious and still be a dreamer, it has to have some sort of fun attached to it, or I don’t want to do it.

  • Just looming for a side-hustle that in 10 years will be able to supplement my retirement. Having a plan with milestones and having the family onboard are must-haves. Without them you'll have no direction and your biggest distraction will overwhelm your start-up.

  • Superb summary for the ones who already made their way in the corporate maze and moving into entrepreneurship.

    One more thing I would add to the list is “asking for help”. Having a track record of success in the corporate world comes with a baggage. You are the expert, you are the one being consulted

    Superb summary for the ones who already made their way in the corporate maze and moving into entrepreneurship.

    One more thing I would add to the list is “asking for help”. Having a track record of success in the corporate world comes with a baggage. You are the expert, you are the one being consulted etc. However once you step out, you are back to square one.

    Ask for help and you will be -positively- surprised to find out how many people will be there to give you a hand (most often no strings attached).

  • Really sound advice rather oriented to preparing for the failure, because it will be harder than you think. Very least, be ready financially and mentally.

  • Hello good evening friend 💥💥💥💥