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Entrepreneurs

Ive read several books published by entrepreneurs and by far and far that is the best root it seems to gain alot of personal wealth. WHat i detected was a little bit of sympathy by them for the average person and refer to them in the case of felix dennis as wage slaves.

My Question is, Is being an entrepeneur the only root if you wish to be really rich, im talking like atleast worth 200million pounds in 20 year such as duncan banatyne? and if so, why are not more and more people encorouged by society to persue it?

:suitc:

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Basically yes. Even top hedge fund managers probably won't make £200 million, but they are basically entrepreneurs anyway. The only other route I can think of is writing a ridiculously successful book, but again this is personal endeavour and not a job, and thus is arguably also entrepeneurial.

As for society encouraging more people to go in for it - I don't see how. If you're not motivated enough by the possibility of £200 million, I doubt you'll be motivated by politicians lecturing at you.
Reply 2
Fair enough, very nice point. However what is it that stops people out of curiosity? is it an adversity to risk? I mean isnt life too short to work for someone else?
Risk and difficulty, I would say. For each entrepeneur who becomes vastly wealthy, there are at least a hundred who go bankrupt, and many more who go on to earn only a moderately improved wage but with less security. That and most people don't have the time, inclination or imagination to start businesses.
Reply 4
I understand what you're saying, however, it's not everybody's ambition to be very rich or on the rich list. For many people, they may simply want enough money to get by and enjoy life.

I was listening to a lecture by a famous marketer the other day and he came up with an interesting comment:
* People have ingrained into them from an early age that money is the root of all evil, and that they should stay away from it as much as possible.

There are plenty of other reasons, I've just listed one here. But it is a very interesting point for discussion.
mdarwish01
I was listening to a lecture by a famous marketer the other day and he came up with an interesting comment:
* People have ingrained into them from an early age that money is the root of all evil, and that they should stay away from it as much as possible.

That is certainly a view our society, especially and ironically the most affluent members of it, tends to promote - that people should feel ashamed for wanting a better life for themselves and their family. Thankfully this misconception doesn't usually survive the collision with real life, but in some cases sadly it does.
Perdition00
My Question is, Is being an entrepeneur the only root if you wish to be really rich, im talking like atleast worth 200million pounds in 20 year such as duncan banatyne?


You could become a celebrity/actor/singer/it girl. I hear the cast of friends were making over one million dollars for 1 episode's work by the end of it's run.
Reply 7
I used to sell my toys in the playground. Now at 21, I've a few 'businesses'. All fairly successful. Making money is easy to make providing you've got some to start off with and motivation.

I enjoy being self sufficient - can't stand taking orders from people. Never have, never will.
Coming up with an idea is the hardest part :/
Reply 9
Nah man. You restyle something people already want into something slightly better and you're in. Presentation is half of it.

Whatever you think of, write it down.
Reply 10
By far and far most entrepreneurs take regular ideas and muscle into the market with better quality, take branson for eg, though virgin cola wasnt that good.

1% inspiration 99% perspiration - Sorry for the cliche

I was reading the book by felix dennis , Great book stupid title, but his views were quite similar in the sense that he advocated great ''Execution'' of an idea rather than an idea by itself.

I dont personally believe money is the root of evil as is ingrained in us, as with all things its subjective and changes between people. You could educate your children well and start charitable foundation, though personally i believe in giving charity privately.:suitc:
Perdition00
By far and far most entrepreneurs take regular ideas and muscle into the market with better quality, take branson for eg, though virgin cola wasnt that good.


Spot on.
Reply 12
It's entirely about the public's propensity to assume risk. The majority of people have got themselves into a mentality that professional risk taking is bad and should be avoided whilst simultaneously borrowing credit and lying to themselves that this is somehow different, that they aren't assuming any risk at all.

People aren't willing to risk their careers' (as they see it) but in the end they do so anyway. Not becoming an entrepreneur, not starting a business and not becoming the boss carries it's own indirect risk; you're career is perpetually at the mercy of others.

This would all be fine if it weren't for the fact that people are unwilling to take the obvious risk (preferring indirect risk) of becoming the 'businessman' or 'shareholder' of lore (and constant anecdotal complaint) but still feel entitled to complain when their employers make a profit or their compensation is less than the total of everything that they bring in in revenue.
Reply 13
Collingwood
Basically yes. Even top hedge fund managers probably won't make £200 million...

LOL! That's on the low side for the annual salary of a good one.
Mate, you just regurgitated out some of your lecture notes didn't ya? :wink:
Reply 15
No, off the top of my head actually.

Why would I have taken any modules on business or finance when you can pick it up from practice and google? :biggrin:
Reply 16
From what ive seen, being a wage slave is no way to make it succesfully with respect to finance, and with regards to the comment on the friends cast. Breaking into acting to that level and success is as much hard work if not more than going into business, Bear this in mind, if they were making 1million per episode towards the end, how much do you think the business men above them were making?
Hehe google is a blessing :biggrin:
Reply 18
Pretty much. But it's so very high risk. That's why not everyone gives it a go. If you fail it can really really ruin your life because you end up in sooo much debt.
_jackofdiamonds
You could become a celebrity/actor/singer/it girl. I hear the cast of friends were making over one million dollars for 1 episode's work by the end of it's run.


Because their acting is really worth 1 mill an episode...the system works!

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