6 ways entrepreneurship and startups are going to make you richer tomorrow

I have been mentoring several startups, working with big businesses and interviewing successful entrepreneurs and consultants and I have been able to see with my own eyes how entrepreneurship and startups help people become more successful in life, in their career and ultimately better off.

1 – The skills you acquire are bankable! 

Learn the skills to survive in today’s world. The World Economic Forum predicts in one of their articles that the top 3 skills most in demand by 2020 will be a) complex problem solving, b) critical thinking and c) creativity which are all skills you acquire when you go through an entrepreneurial journey. The rest of the skills are also those of an entrepreneur. If you ask me, according to this report, an entrepreneurial profile is the employee profile of tomorrow. Right?

2 – Your skills will brand you and differentiate you from the other hundreds or thousands of candidates that are seeking the same job as you

Brand yourself as a leader and doer. When you work on a good idea that has the potential to disrupt a market you have a high chance to get noticed by those bigger companies that are trying themselves to develop similar technology. This also gives you an opportunity to network with C-level executives and managers from these companies but from a business manager to business manager perspective. Sometimes, these bigger companies can have a harder time than you develop such solutions because of internal politics, the lack of creativity of certain 9-5 employees, etc. A manager or executive of such a company might see you as a good fit to lead such projects internally and offer you a job, much better paid than if you had found it through the usual job-hunting process which can sometimes be a little unfair and look more at past experience versus capabilities. All in all you may end up with a higher paid job but also a job that you like (and that has no price – ask those who are miserable in their jobs).

Since I am talking here about job hunting let me share with you a cool startup we have been helping called Jobgator. They are developing a great solution to help you sharpen your resume in case you want to increase your chances when looking for a job, if you decide to do so the traditional way. Their solution will definitely help make your resume stand out.

Buy this book $103 – You understand value and wealth creation better and can apply it to your own life to build your wealth

Managing your life is like running a business. Managing a business is no easy task. You need to create and add value, have the discipline to be able to deliver this value efficiently, effectively and systematically to your customers. More importantly you have to manage the operations to be profitable. You learn about the concept of return on investment, etc. These management skills you acquire are totally applicable to your life and will help you create more wealth, have respect for money and avoid waste. You start thinking of savings as profit and when you have enough profit you automatically think about investing this profit to create more value and more profit. As an entrepreneur you learn that the goal is not only to work hard for money but ultimately to make that money work hard for you!

4 – An additional stream of revenue coming into your bank account

More money never hurts, right? If you are what is called an extrapreneur (i.e. you work on your startup in parallel with your job) and if you are able to sell your products or services you will earn additional revenue on top of your salary. If you are able to automate this stream of revenue fully by leveraging technology and through hiring others you will have created a money-making machine for you! This is called the Mastermind Principle by Napoleon Hill – Look it up…Interesting concept!

5 – Understanding the startup landscape and having a network within the startup ecosystem will help you identify the companies to work for to maximize your chance of return on investment…

You will be able to find and work for companies that are raw diamonds. When this happens and you get some stock options for a start-up and if the company takes off to become the next Google or Facebook you can simply become a millionaire or at least a hundred thousandaire. As an entrepreneur, you will be in the front seat of the latest, emerging startups which gives you an edge for you to be able to target working for companies that are in rapid growth mode. Being employee number 4, 50 or even 100 in a company that ends up with billions in revenue and tens of thousands employees can yield a huge payoff.

Finally, if your startup venture works out: you’ll be rich!

Entrepreneurship can be a huge source of wealth helping you achieve the freedom and lifestyle you desire. According to a CNN Money and a Boston Consulting group (BCG) report on global wealth “new wealth is also created by things like entrepreneurship, new businesses, investing”. Watch the CNN money video on the BCG report. If your idea is great and you have the experience, knowledge and team to take it to reality you may create a very successful tech startup which could result in you making tons of money.  Imagine your startup making millions of dollars, worth billions in valuation, etc. Oh, and I said IF your startup venture works out. The reason I said this is because failure rates are pretty high. The reasons these rates are high is because people underestimate the knowledge and experience needed. They don’t have the right mindset or cannot find the team or funding to take off. The good news is that it is exactly what Startupsinnovation aims to provide. We help accelerate knowledge, products and teams. If you have an idea that you want to launch,. just contact us and let’s get started!

And as Einstein used to say “If you can imagine it, it’s already real”.

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Posted in August, Big times NEWSLETTER.