Am I CRAZY?
To be honest - I have no passion. I just want to be free financially ( ~ 10M$).
What route would you recommend me to take?
I'm thinking that starting a business (not a tech startup where VCs force you to grow too fast and die most of the times). It's just seems like a better option to me considering you'll work a lot in high finance as well... so might as well build equity for it...
And yeah I know it's more risky blah blah blah... I prefer trying and failing rather then slaving my life away just because I'm scared like a fu*king NPC...
What do say?
Would love to hear your honest opinion...
Kashish.
Kashish, aiming for financial freedom with a target of around $10 million is a bold and ambitious goal, and it's great to see you're willing to take risks to achieve it. Based on the insights from Wall Street Oasis, here are some considerations for your journey:
Entrepreneurship vs. High Finance: Both paths can lead to significant financial success, but they come with different sets of challenges and rewards. Entrepreneurship, as you've noted, offers the potential to build equity in something you own and control. It aligns well with your desire for autonomy and willingness to embrace risk. Remember, the autonomy of entrepreneurship comes with added risk, but for many, this trade-off is worth the potential for a greater feeling of purpose and life-changing upside potential.
Passion and Persistence: While you mention not having a specific passion, successful entrepreneurs often have a strong drive and commitment to their vision. This doesn't have to be a passion in the traditional sense but can be a deep-seated desire for financial independence and the willingness to work tirelessly towards it. Your readiness to try and fail rather than not try at all is a valuable mindset in the entrepreneurial world.
Building Equity: Starting a business allows you to build equity and potentially achieve your financial goal faster than in a traditional job, assuming the business is successful. You're correct in noting that both entrepreneurship and high finance involve hard work, but owning a business means any extra effort directly contributes to your own success and equity, rather than that of an employer.
Risk and Reward: You've acknowledged the risks and seem prepared to face them. This is crucial, as entrepreneurship is inherently risky. However, the potential rewards, both financially and in terms of personal satisfaction and freedom, can be substantial. It's about finding the right balance and making informed decisions along the way.
Alternative Paths: While not directly mentioned in your query, it's worth noting that there are other paths to financial freedom that involve entrepreneurship or investment, such as real estate, franchising, or buying and growing a small business. These can offer different risk-reward profiles and might be worth exploring.
In conclusion, if you're leaning towards entrepreneurship for the potential to build equity and work towards your own success, it could indeed be a fitting path for you. The key will be to approach it with a clear strategy, informed decision-making, and resilience in the face of challenges. Remember, the journey to financial freedom is rarely a straight line, but with determination and smart choices, it's a goal that can be achieved.
Sources: Why You Should Launch a Startup Instead of Going to the Buyside, From Real Estate Finance to Founder of Development Company - Q&A, Personally Buying a Small Business - Quitting the Rat Race, Entrepreneurship or IB... How do you choose?, Private Equity or Pizza Equity?
“No passion” and “start a business” don’t go together
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