become an entrepreneur

[lillo9546]

Is it possible to be an ERE entrepreneur?
Does that make sense?

[jacob]

Sure.

[OutOfTheBlue]

It even has a name: EREpreneur.

[ducknald_don]

I think the things that motivate people to become financially independent are often the same as those that motivate people to start a business. The media likes to play up the idea of becoming very rich but in reality most entrepreneurs are just looking for an alternative to a traditional job.

Schumpeter had some ideas on this: http://reactionwheel.net/2019/01/schump ... ategy.html

[jacob]

Most entrepreneurs fail due to needing an income from the business during the early stages. Since the business doesn't generate enough money yet, this is usually paid for with debt. Circumventing that, the alternative for the non-FI is to treat it as a second job which constrains the amount of energy they have to put into it. This is why 90% of conventional start-ups fail---they run out of money before the idea takes off.

ERE/FI has none of these constraints.

This is not to say that ERE makes entrepreneurship successful, but it does make it easier.

I wrote a chapter for this book: https://www.amazon.com/One-Million-Bank ... 0996118608

The main take away for robust success is to find something that's already working and execute it better. Many businesses throw a dart at some fanciful idea w/o realizing that the reason it doesn't already exist is that nobody is interested in buying the products or services.

[mountainFrugal]

Also might be of interest - Solopreneur MMG: viewtopic.php?p=268613#p268613

If you are serious about entrepreneurship I recommend the Disciplined Entrepreneur Book and resources. https://www.d-eship.com/
These are all the components that you should at least consider and you should do the exercises to help you actually think through your business. It scales from lifestyle business to raising VC money.