The Next Chapter

Three key magazines for the new entrepreneur!

For the new entrepreneur or the seasoned veteran I believe these three magazines offer wealth of knowledge, insight, and perspective that is incredible.  You can get this information for free at your local bookstore while enjoying a cup of coffee.  I gave up long ago with the whole magazine subscription model with them being sent to my house.  With my new iPad I'll access all the free online content and download the issues I need.  I think you will enjoy these resources.

Entrepreneur

Inc.

Entrepreneur's Startups

Lower your need for money to get more of it.

Everyone needs money but our high standards of living sometimes keep us trapped in jobs we don't like without the ability to move on to the career we want because we have massive bills and debts to pay and thus continually need the steady "paycheck" from our job to cover those expenses.  This is not good for you but great for the "company."  You need to break the cycle and all successful entrepreneurs who have made the jail break had to figure this equation out.

Remember the movie The Firm with Tom Cruise? The leader of the firm encourages the young attorney to get the expensive house and fancy car and all the bills that come with that lifestyle and then he jokes with others that they are golden handcuffs and that the young lawyer will never be able to leave.  It is a great trap that many company leaders try to pull to keep their key people trapped.  Don't fall for it. 

So how do you break the cycle?  Lower your standard of living and be debt free.  Live below your means and don't try to keep up with your friends and neighbors.  Save everything you have for the time when you want to walk out the door and start your own company because you will need this captial to do it.  You will be glad you did and this responsible behavior will give you options and thus give you the most important thing of all....FREEDOM.  Seth Godin recently spoke about how Spike Lee lived on noodles for years so he could focus on his "art" and he "lowered his need for money" which in turn allowed him to be uber-successful years later.  I think this is one of the most important steps to starting your business and being an entrepreneur.  Unless you win the lottery or have a family member who will bank roll your business venture you are going to have to figure out how to do it on your own.  That is part of being an entrepreneur.  That is what makes this game so exciting and rewarding.   Enjoy the journey!