Choosing between the stability of a traditional career and the upside of entrepreneurship? Why not have both?
Becoming a full-time entrepreneur can look glamorous from the outside. Who doesn't want to chase their dreams, be their own boss, and do what they love? But the truth is that entrepreneurship is often a slog, with no regular hours, no job security, and very little pay. What if there were a way to have the stability of a day job with the excitement of a start-up? All of the benefits of entrepreneurship with none of the pitfalls?
In The 10% Entrepreneur, Patrick McGinnis shows you how, by investing just 10% of your time and resources, you can become an entrepreneur without losing a steady paycheck. McGinnis details a step-by-step plan that takes you from identifying your first entrepreneurial project to figuring out the smartest way to commit resources to it. He shows you how to select and engage in projects that will provide you with upside outside the office while making you better at your day job. He also profiles real-world 10% Entrepreneurs, including Luke Holden, a cash-strapped recent college graduate who started his own lobster-roll empire and oversaw much of its first year of operations, all while working full time in corporate America; Dipali Patwa, a designer and mom whose side project designing and selling infant clothing is now a sensation; and a group of friends who met at a 6:00 a.m. Bible study class and went on to start a brewery that now generates millions in sales.
A successful 10% Entrepreneur himself, McGinnis explains the multiple paths you can follow to invest your cash, time, and expertise in a start-up - including as a founder, angel, advisor, or aficionado. Most importantly, you don't have to have millions in disposable income to become a 10% Entrepreneur. When you put McGinnis's 10% principles into action, you'll quickly start racking up small wins then watch as they snowball into your new (and far more entrepreneurial) life.
©2016 Patrick J. McGinnis (P)2016 Blackstone Audio, Inc.
This book will really help people who are toying with the idea, based on the false dichotomy of having to leave their job, of tackling some entrepreneurial ventures.
The book lays out the concept so one can properly organize his/her thought processes and begin to create a plan.
It also deals with more of the soft concerns, like managing reputation, honoring one's current employer and dealing with family and friends.
As someone who has been tackling entrepreneurial ventures while gainfully employed for a few years, the book mostly helped me to understand that I'm not crazy, selfish or cheating (while all of those things could be true if not handled very well).
First, The book needs a PDF to give the listener worksheets or at least checklists for each of the many prescriptions on the book.
More importantly, its more on being an angel investor or an advisor to a startup -- part-time. Very actionable if you are a lawyer or an MBA who wants some extra projects -- maybe to kill off the debt from those expensive degrees.
An average person - no way.
I think there is enough value in the book to not refund it, but I probably would have never bought it if I saw a review like this one.
If you are a lawyer or CEO and want to use your specialized skill in another venture, then you might find some useful information. If you don't have the skill set that someone would hire you as a consultant, then don't waste your time in this book.
Great concept, but I could see this book better if it's summarized sections that focus to prove the 10% is the right approach, as put more time on things like how the 10% will get equity with different type of deals.
Performance was great! Also, a bit Motivational book (in a good way)
This book was an encouraging read to get you started on the path to diversifying your income sources. It is a great contrast to typical business startup books that implore young develop a steely eyed focus on just your big idea. It shows a path for a typical salaried worker to open up their life to new business experiences and opportunities. However the book is limited in its appeal in that it largely resolves into instructions on how to take on a role in an incubator: as an advisor or a silent angel investor through a VC's eyes. There is little to garner from this book on building your own business on the side except for the urging you to build a team around you who will take on the majority of the business responsibilities.
Still, it is worth the time listening and digesting. The most valuable takeaway for me was the VC-style opportunity screening and due diligence framework.
There were a few good tips, mostly about perspective. I think the author has a good idea: spend your extra time diversifying so that you're not dependent on a single job, should something happen. However, it seemed to me that the majority of the book was blowing smoke to fill pages. A lot of reputation & the book lacked actionable ways to move forward but did explain the concept & categorized how a person can think of himself as a 10% Entrepreneur.
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