Entrepreneurs. The word probably brings images of individuals to your mind. Elon Musk, Bill Gates, Warren Buffet or Henry Ford. Millionaires or billionaires. Champions of new technology. So what is the issue with entrepreneurs? Well the issue is “entrepreneurs”.
What does it mean to call yourself an entrepreneur? Well the definition is “a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.”. So I have an issue with business owners? Quite the contrary. I admire and respect those who start legitimate businesses. My issue stems, in part, from the fact that anyone can start a business now. Is a YouTuber a business owner? Well certainly they can be and many are. Is anyone who has set up an LLC or S-Corp? No, I don’t think so.
Hustle. And fuck the 9-5
There has been an explosion in entrepreneurship in social media in the last few years. This has come in a few forms. There has been a massive growth in legitimate business using the internet. The internet has been the largest tool in this area in human history. And I need to reiterate, I have no issues with those businesses.
The issue with a lot of entrepreneurial content is a large demonization of “the 9-5”. The truth is that most people will have a 9-5. The more nuanced truth is that the worlds economic system depends on most people having a 9-5. These people are the foundation of the economy and the demonization unnecessary. If you have a goal to own your own business or start a company, all the power too you. That doesn’t mean we need to degrade others.
Why do I think this also causes an issue with entrepreneurs themselves? It can drive a sense of superiority. That sense of superiority can drive depression and a feeling of insecurity if a new business owner is not performing well. I truly believe that being honest on the struggles or issues of the 9-5 is important but the same is true of starting your own business.
Scams. Scams everywhere.
If you browse an app like Instagram for anything finance or business related you will inevitably be fed these videos. “10 stocks that will make me rich in the next month.” “How real estate is the only vehicle to make you rich.” “10 passive income streams you can make millions off of.” “Join this company and you can make millions.” All of them are complete and utter shit. Let me make this very clear, teenagers on Instagram aren’t making genius stock picks, passive income still requires work and MLMs are just barely dodging pyramid scheme status.
These groups are entirely propped up by the financial illiteracy in the United States. It would take separate articles on each of these types of scams to truly break them down but fundamentally they rely on manipulation and financial illiteracy. These scams latch on to the feelings and mentalities I mentioned above. They drive you to make emotional decisions rather than educated ones.
Join my course.
This is likely where I will lose some people. Let me get ahead of it and make this abundantly clear. Education is never a bad thing. Learning from mentors is never a bad thing. What is a bad thing is learning from a mentor or taking a course from someone who isn’t an expert. I am not going to go take a course on quantum physics from a dog breeder. Nor should you take a course on real estate flipping from someone who doesn’t make their money from that.
This has been an interesting development in the past few years. The internet has made marketing courses and even hosting them an absolute breeze. There are so many courses out there and I know there are incredibly valuable ones but so many are scams. I will be writing an entire article on courses and what to keep your eye out for.
In conclusion.
Now, I am sure some people will jump on and say these people aren’t entrepreneurs. While I am inclined to agree as it relates to the true idea of entrepreneurship, these people latch on to the title and brand themselves as such.
Entrepreneurs have caused and created the product I am writing this on. They provide unbelievable benefit to society. However, too many people try to ride the coattails of actual business owners and separate you from your hard earned money. I never want anyone to be scammed or ripped off. I’ll edit this article to include future articles on these different forms of scamming people.
Remember to stay safe and smart and have a great day.
SimpliFI 