Ever thought about launching out on your own but been hesitant to make the leap because you didn’t want to give up the security of your day job? In this episode, Mike Schmitz is joined by Patrick McGinnis who explains that you don’t necessarily have to choose one or the other. Patrick is the author of The 10% Entrepreneur, a book about how you can achieve entrepreneurial freedom without sacrificing the stability of your 9-5. We talk about the different ways you can chase your entrepreneurial dream from right where you’re at, why pursuing a side hustle actually makes you more effective at your day job, and how consistent effort is the key to making your side project a success.
Cheat Sheet
- What it takes to become a successful entrepreneur [2:02]
- The hidden costs associated with full-time entrepreneurship [6:04]
- The lifestyle compromises entrepreneurs are forced to make [7:30]
- How and why people you know may look at you differently when they find out you don’t have a “normal job” [9:42]
- The benefits and problems with traditional careers (even prestigious ones) [12:33]
- How you can achieve entrepreneurial freedom without sacrificing the stability of a 9-5 [16:37]
- The steps to becoming a 10% Entrepreneur [18:41]
- Why consistent effort is so important regardless of the amount of money or time you have to devote to your 10% [23:05]
- How to escape FOMO and avoid burnout [28:10]
- Ways to make sure you surround yourself with the right people who can help you achieve your goals [31:20]
- How becoming a part-time entrepreneur can actually make you better at your day job [34:01]
- How to figure out how much you should invest in your side hustle [40:10]
- The importance of mindset in achieving your goals [45:52]
Links
- The 10% Entrepreneur: Live Your Startup Dream Without Quitting Your Day Job
- Free 10% Entrepreneur Workbook
- PatrickMcGinnis.com
- Dirigo Advisors
Connect with Patrick McGinnis
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