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Posted by on May 15, 2007 in Entrepreneurship | 3 comments

Pentamillionaires: It’s all about the risk.

I’ve always been fascinated with entrepreneurship and the psychological dynamics behind it.

This is an excellent article on the subject and many of the traits sound very familiar. Although, I’m not remotely close to the ‘pentamillionaires’ club, since I’ve chosen to live outside of the Hollywood ether and make films that otherwise wouldn’t get made.   But that’s a different thread.

From the article:

In addition, “lucky” folks simply have higher expectations of success — they’re too pigheadedly optimistic to heed the long odds and call it quits.

Not to say that getting rich is simply a matter of having a swell attitude. The path to riches usually involves the kind of risk that would make most people feel a little queasy.

I’ve felt a lot queasy over the past eight years, and my wife has certainly felt a lotter queasy. Yet, I’m wired to charge ahead, and she comes from a family of risk-takers, and we therefore continue to find optimism in a notoriously difficult field. I’m not so concerned with the eight-figures incomes as referenced in the article. But it would be nice to have college funds in place, and a vehicle other than this one.

Don’t get me wrong…the 1996 Quest is a fine vehicle for kid-schlepping, and better yet, it’s paid for. But I need something more in line with me. Like this Toyota Landcruiser, pimped-out for riot control goodness.

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But I digress.

I know dozens of entrepreneurs. Many are limping along while others do quite nicely. And a couple are lighting cigars with hundred dollar bills. The common trait in all of them, myself included, is that they (we) believe, man. Not that riches are just around the corner, but that we can make it on our own, without clocking in and sucking it up. On the other hand, we also wake up every morning, wondering how in hell we’re ever going to fund a retirement plan, when all of our income goes into the business or to health care plans.

And incidentally, there’s nothing at all wrong with clocking in. I’ve worked dozens of jobs to fund my business, ranging from minimum wage restaurant gigs to executive-level marketing jobs. And if I ever need to take a job to support the family, I’ll certainly do it.

For now, we’re making it work. And I still get queasy. But I believe, man.

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3 Comments

  1. The common thread seems to be that the money isnt the primary motivator but finding your passion is, seems to make sense. If I could only find mine then I’d be all set!! 🙂 Until then, I’ll have to keep clocking in I guess. More power to those that can find it though.

  2. Indeed, passion is a key element. But having a Spongebob-like daily optimism certainly helps.

    Passion tends to fly right out the window when the utilities come due on the exact same day as the health insurance premium, and the transmission falls out of the Quest. It’s during those times that I wish I had a clock to punch, and a bennies plan in place.

  3. I guess utopia would be a little of both rolled together. Hey, at lest we’re not dodging roadside bombs to try and make it happen!

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