How do entrepreneurs balance work and life?
The following is part 1 of my 8 part series on entrepreneurs and their attempts at work-life balance. I want to thank the following individuals for willingly sharing their experiences (either with me or their website): Chris Pearson, Steve Pavlina, Jeremy Wright, Angie Chang, and Shivani Sopory.
Background
As I sit here in my pajamas I think to myself: “is this what it means to be an entrepreneur?” Having extensively researched the subject the answer has become quite obvious: maybe.
Being an “entrepreneur” can mean a plethora of things. For many, they have a penchant for doing what they love. Jeremy Wright works seven days a week. Though, it would be hard for him to go back to working 9-to-5 for a company; he loves what he does. But, not every entrepreneur has a passion for what they’re doing. Chris Pearson started as an entrepreneur by selling products on eBay. He was only in it for the money. Admittedly, trying to run a business without passion was a dumb move and that fact alone contributed to the business’ demise.
Other entrepreneurs strive to be the boss; many see a company as a middleman. In other words, you may save a corporation $10,000 in one day and only earn $50 for each hour worked. Conversely, the entrepreneur would pocket the full $10,000. This disintermediation is what Steve Pavlina calls “[thinking] like an entrepreneur.” In other words, an entrepreneur’s income is no longer determined by how much time is spent working but rather how much value is created. In addition, there are those deemed “lifestyle entrepreneurs” like Rory and Sandra Burke who run their business from a 35-foot sailboat. These individuals simply try to find the balance between “income, possessions, the time [they] work, and where [they] work.” In either case, the entrepreneur is the sole decision-maker.
Jeremy goes for months without a day off, Rory and Sandra constantly cruise the world and Steve only works a few hours at home. How is it that these diverse entrepreneurs consider their work and personal lives to be in balance?
Series: Background, Steve Pavlina, Jeremy Wright, Rory and Sandra Burke, Angie Chang, Shivani Sopory, Conclusions, Final Thoughts
[tags]entrepreneurship, worklife, balance, stress, lifestyle[/tags]
McGinn, Daniel. (2005 July). The trouble with lifestyle entrepreneurs. Inc., 27(7), 21-23.
Related posts:
- HDE Series: Final Thoughts The following is part 8 of my 8 part series...
- HDE Series: Steve Pavlina The following is part 2 of my 8 part series...
- HDE Series: Shivani Sopory The following is part 6 of my 8 part series...
- HDE Series: Angie Chang The following is part 5 of my 8 part series...
- HDE Series: Rory and Sandra Burke The following is part 4 of my 8 part series...
6 Responses
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To raise the bar a bit for Entrepreneurs getting into hyper-competitive markets:
How many of you have bootstrapped your way to a live product that is generating real revenue in its first week?
Check out: http://www.talktrust.com
I have been using six FREE Talktrust accounts now. One for my eBay customers, others for my Craigslist customers and so on .. I sent them feedback and learned that this really cool and robust service is entirely bootstrapped by three guys in silicon-valley!
Forget running around for investments these days. You can succeed - TalkTrust is living proof!
Cheers!
Hemendra
Hemendra,
Don’t forget craigslist. Out of SFO, Mr Craig bootstrapped his way to Craigslist.org.
More than investment run-arounds, VCs put tremendous pressure on a funded companies. If craigslist would have started with funding, I suppose it would have been a different, perhaps lost in year 2000, kind of portal
Continuing the Discussion