October 17, 2007, 7:00 am

The Rewards of Entrepreneurship

by: The Financial Blogger    Category: Career
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This post is a tribute (is it better than eulogy?) to one of my friend. A friend who found the great courage within his guts and started his own company. We got together four friends from university the other day around a couple of beers (I should say more than a couple, but anyway!). He had a great announcement to make; his firm has been bought out by a big media company.

I’m writing this post because this story has nothing to do with FaceBook creator or Google, he did not sell his business for millions, but he surely received his piece of the cake.

Two years ago, as he just completed his master in ECommerce, he decided to team up with three other dudes and create their own company of SEO and web consulting. Him and his friends worked very hard for two years. They were trying to make the best job ever at the cheapest price for every contract. While he was not working eighty hours a week, we was not partying as well. They finally got on bigger and bigger contract until they annoyed some important players in the industry. The big companies could not compete with them as they were faster, more flexible and cheaper than them. A major player then decided the best way to get rid of this small firm: buy them! The four of them will now be working for the company and their firm will become a complete division. They have now the sufficient cash flow to continue their expansion and will receive great rewards from their entrepreneurship. Money, money, money, it’s all about money This is obviously the major reward you can receive from your effort. Their world will suddenly change and their financial problem will slowly disappears. More than that, financial opportunities will start to arise like mushroom in a forest. Regarding their own specific situation, they all got a great signing bonus along with important increase in what used to be their salary. In the end, chances are they will also get shares in that company as well. This could only mean good news for all of them. Pride and recognition Do you feel pride of yourself when you conclude a sale for your employer, you win a contract for your employer or you achieve a major project for your employer? Imagine the sensation for ones that does it for himself! It must be a great feeling to see your baby, your own creation getting attention from the big guys. Your whole work and talent are being recognize through your company. Being an entrepreneur is more than being your own boss, it is related to have a direct influence on your destiny. Every ideas, every thoughts, every moves are beneficial for your own good. Becoming a successful entrepreneur would allow an individual to fully accomplish himself and being recognize for it.

Flexibility and power

Hum… making your own working hour, having the power of deciding your way of working, your team mates and which project you will work on; it sounds like the perfect workplace! While you might end up in this Cinderella Story, chances are that you will have to work more than a regular employee and think about your business 24/7. It is true that if you company becomes stable and money is coming in, you will benefit from a lot of flexibility and you will gain power over your environment. However, in order to reach this level, you will have to achieve something that no employee will ever perform; total donation to your company. My friend made a series of continuous efforts over the past two years and was making barely enough to cover for his living expenses. He was working ten hours a day and sometimes over the weekend. He did not really mind as he saw what was coming; he had a plan, he had a vision.

Fulfilling your dreams

Entrepreneurs are wild beast; they hate to be tamed and put in a cage. They need space so they can think and evolve to something better. Creating your own business is a great way to fulfill your dreams and to grow on a personal level. It is not only about money, it’s about yourself. Through your company, you have a chance to grow and become a better person. While you are living your life, you are also creating an alter-ego. Another “me” that will take action by itself and reward you with pride as a son who makes his first touch down.

If this post woke up a part of you that wants to be part of the world of entrepreneurship, sit down with a piece of paper and start thinking about what you could do in order to become another man or woman, another entrepreneur.

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Comments

Do you feel pride of yourself when you conclude a sale for your employer

Hey FB, maybe I’m a little weird, but I definitely do feel pride. I have guys sitting in the office next to me and they need these jobs to keep their paycheques coming. But I also feel pride at earning my keep, doing a good job is the best job security you can get.

Of course, here’s where my outlook differs, I may be getting a pay-cheque, but I’m already a consultant. The deal is simple really, I generate money and the boss pays me a risk-adjusted portion of the money that I generate. Lots of people get sucked into receiving less or complain about not getting enough, but most people have no clue what the actual risk levels are.

I do have a clue, I talk to the bosses, I know what’s coming in, I know what we’re billing, I have a really good idea of whether or not we’re making money. So I pretty much don’t have to ask for a pay raise, I know when it’s available. I also know when the company isn’t going to be doing well and I’m not going to get my cut.

Maybe it’s my field (I’m a programmer working for a consulting firm), but I don’t see my work life as being any different from that of a consultant. I just make less b/c I’m risking less (of course with profit-sharing and ventures on the horizon, we’ll see about that).

by: The Financial Blogger | October 17th, 2007 (9:29 pm)

Gates, I really appreciate your point of view. There are not enough people like you around. It is true that you can find pride by doing your job. I find that doing a good, read an excellent, job is very rewarding. However, I can picture myself feeling even better if I would to those efforts for my own company.

In the meantime, I decided to look at my job as a tiny company itself. I run one employee (me!) and and set my own objectives according to my environment (other workers, my boss, the real company).

Since you are talking to the bosses and you seem pretty close to management, you can surely feel more part of your company or as you own a part of it. I would not feel that I own a part of a bank as it is too big (nonetheless, I do have shares :-D ).

I was expecting the worst when I saw the word eulogy. Congrats on your friend, and good attitude on your job.

Haha – me too. Eulogy is normally a word you hear at funerals.

Mike

by: The Financial Blogger | October 18th, 2007 (8:02 pm)

oops!! this is what happens when you try to write fancy in a language that is not yours! I’ll correct that ;-D

FB – it’s not wrong to use the word the way you did – but it’s just not the “common” way to use it. “Tribute” is perfect.

The important thing is that your friend is ok!

Mike

by: The Financial Blogger | October 18th, 2007 (9:25 pm)

I knew that eulogy was used for funerals but I though it sounds great ;-)
At least, my friend is more than ok ;-)

Thx for helping me with my English!