We are all Entrepreneurs

If you didn’t make it through my first post in this series, I don’t blame you. What was supposed to be a 300-word post turned into 2000. Long story short, I have an assignment to publish a blog a week for the next 14 weeks based on the readings in my Introduction to Entrepreneurship class at BYU-Idaho. Those assignments are being published on my blog.

This is it. The last post in this series. 14 weeks. 14 posts. This whole writing thing has been kind of fun. Thanks to anyone out there who read any of these posts.

In the likely event that this post remains at the top of my blog for the foreseeable future, I highly suggest reading the first post in this series. That post gives a great overview of my personal journey over the last decade in my career. It is a post that had been simmering for years before it made it onto this blog.

For the purposes of this post however, I have been asked to write about my final advice to anyone considering a role as entrepreneur. The core of my thoughts all come back to this:

We are all entrepreneurs. You’re already doing it. Where are you going to go from here?

What? How can I possibly say that? Obviously not everyone is an entrepreneur you might say. Let me explain.

I currently work as a plain old boring full-time employee at a company. Those who would disagree with me would argue that I am as far as it gets from an entrepreneur. I however know that I am an enterprising entrepreneur.

Headquarters for my enterprise is in my home. My wife and I co-founded our business 12 years ago on our wedding day. We currently have 3 interns on the payroll, but honestly some days it feels like they require more work to keep around than they they bring to the table.

We have a few contract employees as well. One is responsible for mowing the grass at headquarters. She also doubles as an interim manager for the interns when both of us co-founders have to travel for business. I told you, those interns need a lot of close care or I swear they would burn this place down.

Our revenue stream is severely top heavy. Nearly 90-95% from our single largest client (that full-time employer I was telling you about). We have a few other smaller customers, but based on our agreements with our top customer we keep ourselves pretty busy at the moment.

We are currently making large investments however in broadening our customer base. Shy of a couple key loans for real estate, we have bootstrapped all of our funding. With some of the revenues from our primary client we are setting aside funds for a few smaller investments that will hopefully be profitable with less time investment. I am also investing a significant amount of time in education right now which will assist in acquisition of future customers.

Our current business model is a tried and tested one. Full-time employment offers stable revenues for predictable work loads. Understanding the time commitments and risks of such reliance on a single customer, we are working to diversify our business model into a broader portfolio containing real estate, stocks, product creation, and media assets that will allow us to earn revenues in a more passive way.

I am an entrepreneur.

Now, I could have easily told you much of that story with very different language, but this is how I see the world. We are all self-employed. We all make choices on how we allocate our time and resources. Understanding how to allocate those resources, reaching new customers, building new products, and changing the world is all part of an entrepreneurial journey.

To those who think they are just getting started on this journey, the best advice I have is to recognize that you already started this journey a long time ago. The big question for you is how far will your journey take you, and how do you want your story to be told.

We are all entrepreneurs.


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