24- An Entrepreneur’s Version
With the launch of the new season of "24" I thought I would share my own version of 24. Unfortunately I didn't get to shoot anyone and I didn't have to hack any Closed Circuit security systems but it was still a pretty hectic day.
In addition to running an ecommerce startup I also consult for a handful of websites, I'm going to school to get my MBA because I love learning AND I depend on exercise to keep me sane. Here is how I fit it all in.
- 5:30 AM Get up to go cross country skiing up Millcreek Canyon. Okay, when I said "yes" to the idea of getting up early to go skiing, I had no idea that that meant 5:30 AM. It's still night time and I have to wear a headlamp! I usually get up around 8:00 AM but in the winter it's really hard to exercise so I'll roll with it.
- 5:45 AM pick up John. I thought that dentists had Fridays off... turns out that there are a few that don't. (Wonder if he thinks that part in "Hangover" about the dentist is as funny to him as it is to me.) Good thing I picked up my skis from REI the night before. I rented cross country skis because I'm normally a downhill guy and don't have cross country skis.
- 7:10 AM back from skiing. I didn't realize how good of a work out it was to cross country ski. It's been awhile. I almost stumbled down the stairs because I didn't realize my legs were that tired. I spend a few minutes chatting with my 10 and 8 year old sons. They're watching some "japanesee" cartoon that I don't understand and I wonder to myself when my parents' interests started to diverge from my own interests.
- 7:45 AM After a quick shower and getting dressed in the dark to avoid waking my wife and sleeping 2-year old, I grab the Wall Street Journal and leave for work.
- 8:00 AM I decide to stop by the bakery for some breakfast. I'm a little disappointed that this location doesn't have the breakfast bagel sandwiches for $3.00. I buy a croissandwich from Paradise Bakery and leave for work.
- 8:15 AM arrive at work and start reading the Journal. I have to read it for school but rather quite like it. After about 15 minutes I start to read my email. If you ask my kids what I do for a living, they will tell you that I send email and sit in front of a computer all day. They would be right. I think that's what I do most days. I had a couple of calls, send a quick email campaign and continue answering emails. I check on projects and make a few calls. It's a good thing I had a big breakfast because I don't have time to go to lunch. I planned on going skiing with my kids at Alta because it's free after 3:00 but the time gets away from me so I leave too late to go. It's okay because their grandparents just got to town from Colorado. I think I'll go for a quick bike ride.
- 3:30 PM leave for bike ride. Ride for 25 miles with a friend. Talk about jobs, bikes, the weather. Where else can you ski and ride your bike on the same day? It's amazing really! I have to ride while Paul B. is away so I can drop him when we ride next time. He's been working out at the gym with the goal of dropping me. Do you think that's too competitive?
- 5:00 PM arrive back home. Shower and grab a snack of fresh rolls from Great Harvest... ah, what a great bread store!
- 5:45 PM leave for study group.
- 6:00 PM arrive at study group. Study Finance until 10:00 PM.
- 10:15 PM arrive home. Grab leftovers from the fridge and chat with my wife and her parents.
- 11:00 PM sit down to send out an email campaign and make a blog post for a client. I got it all ready to go but then I had to upgrade the account because our subscriber list has grown since we did the redesign. I'll have to get permission from my client.
- 12:15 AM go to bed and kiss my sleeping wife goodnight.
- 7:00 AM wake up to go to MBA school from 8:00 AM to 5:00 PM while trying to answer email and calls during breaks.
This was a little busier than normal but as you can see there is not time to watch TV. I spend quality time with my wife and kids on weekends and evenings.
Top 7 reasons why people start their own businesses
Here are the top 7 reasons why people become entrepreneurs:
1- Compelled
2- Apprentice to Master
3- Visionary
4- Hobbyist
5- Invitee
6- Accidental
7- Franchisee
As I have begun researching companies, I find it interesting and sad that many companies both large and small seek to minimize or conceal their founding history. Perhaps they fear that they risk appearing too “small” or that their beginnings were not grand enough. But the beginnings of companies is what interests me the most and I hope to collect enough stories to make this site worth reading.
See below for a more detailed explanation of the 7 top reasons why people start businesses. As I have observed entrepreneurs, I would say that people who start businesses can trace the reason for having started a business back to 1 or more of the following 7 reasons. Some entrepreneurs, especially serial entrepreneurs may fall in more than one of these categories.
1- The Compelled Entrepreneur
This is someone who started a business because they had to. The reasons people fall in this category are myriad. For example, Harland Sanders, the founder of Kentucky Fried Chicken (now KFC), needed money and couldn’t find it anywhere else so he went on the road selling his now famous chicken. Other entrepreneurs simply couldn’t get along in a traditional office setting so they started their own enterprises. In other cases, someone who was making a large salary has been fired or decided to leave work for health or family reasons but still needed some income (think Martha Stewart).
2- Apprentice to Master
This group of people is sometimes the most predictable. After someone has been employed at a company long enough for them to realize that they could do as good of or a better job than their employer they leave to start their own. They often suppose that running a business is a very easy thing to do especially given the fact that they have been making the owners of their company money that could easily be going into their own pockets. So with a little planning and sometimes without, they declare their apprenticeship over and start their own related business. Love Wal-Mart or not, Sam Walton, the founder of Wal-Mart falls into this category. Having spent some time at JC Penny as a management trainee, he learned some of the principles of retailing. After a stint in the armed services, Sam was ready to shed his life as an apprentice and started his own company. Like most entrepreneurs, Sam started with modest means. The rest is history.
3- Visionary
This is someone who saw an opportunity and made something happen. They correctly observed market trends and business opportunities and seized the moment. One such entrepreneur is Jack Nadel (founder of Jack Nadel International, one of the US’s largest promotional product distributors). At the end of World War 2, Jack had an opportunity to purchase a surplus of grey wool material. He found a customer that needed blue wool material. Jack found a way to die the wool in China (more than 50 years ago when importing from China was almost unheard of). He went on to found one of the most successful promotional product companies and is considered by many as one of the most influential entrepreneurs in the space. He has written several books, visited with the President of the United States, and has been interviewed by numerous reporters. Jack at 86 years of age is active in the blogosphere.
4- Hobbyist
The hobbyist’s work is a labor of love. These often grass root endeavors lay claim to some of the best innovations in product manufacturing. They start of making or doing things to meet their own needs only to be approached by friends and family members with requests to expand. Some notable entrepreneurs in this area include the founders of Todaysmama.com. These founders started by compiling a list of things that could be done in their area for very little or no costs. That has expanded into several publications and a very popular website.
5- Invitee
Someone in this group probably could have started his/her own business without the aide of others. However, this person is usually someone of vital importance to a business plan from any of the other groups of entrepreneurs. This might be someone with specialized skills, knowledge, influence, means, etc. Sometimes these people have money or influence that can be brought to bare for achieving the company’s goals. I would also group those who inherit businesses started by influential or successful family members in this group.
6- Accidental
This is someone who started a business quite by accident. They were trying to do something that hadn’t been done and found a way to do something that nobody expected and then found a way to capitalize on it. These are also those who didn’t set out to be entrepreneurs but somehow found themselves being just that. Or maybe these people just wanted to be able to do something for their own convenience and discovered a new process or a new idea with market merit. Often times these people never expected to be successful in their venture but by pure coincidence, or call it fate, start some of the county’s most successful companies.
7- Franchisees
This group of people is sick of the rat race. Most usually come from high pressure corporate jobs and need to do something else. They often choose a business that they can afford that they feel they would enjoy doing.
If you are one of these entrepreneurs or know of someone who has started a successful business, please leave a comment below and I will get back to you.
