My guess is that this is going to provide more fodder for blogs than most topics, because there are a lot of different patterns in businesses.
Let's do a quick recap; bankruptcy is critical to job-formation in the United States because entrepreneurs need to be able to learn their jobs, because no school teaches you how to be an entrepreneur. That's partly because the job description changes daily.
It's also because running any particular business requires a learning curve.
So for any particular biz, all you need to do is to work on it like crazy for five years. And then experience the heartbreak of massive failure.
And then the humiliation of bankruptcy, a public failure. That's public record.
But by then, Grasshopper, you will have learned the answer to the Koan!
Not the ever-popular "What is the sound of one hand clapping?"
But one that's more useful in the business world: how do I run this business without ANY overhead, just by subcontracting the elements of the business, and overseeing the process?
Okay, the first Koan is much more elegant.
But finding the answer to the second Koan makes you very, very happy indeed.
Note: this is a post-graduate issue. If you have a brick-and-mortar business, and you want to keep and improve that by way of your bankruptcy, don't be embarrassed. The trick with the loaves and fishes is not so easy, Grasshopper!
Let's do a quick recap; bankruptcy is critical to job-formation in the United States because entrepreneurs need to be able to learn their jobs, because no school teaches you how to be an entrepreneur. That's partly because the job description changes daily.
It's also because running any particular business requires a learning curve.
So for any particular biz, all you need to do is to work on it like crazy for five years. And then experience the heartbreak of massive failure.
And then the humiliation of bankruptcy, a public failure. That's public record.
But by then, Grasshopper, you will have learned the answer to the Koan!
Not the ever-popular "What is the sound of one hand clapping?"
But one that's more useful in the business world: how do I run this business without ANY overhead, just by subcontracting the elements of the business, and overseeing the process?
Okay, the first Koan is much more elegant.
But finding the answer to the second Koan makes you very, very happy indeed.
Note: this is a post-graduate issue. If you have a brick-and-mortar business, and you want to keep and improve that by way of your bankruptcy, don't be embarrassed. The trick with the loaves and fishes is not so easy, Grasshopper!
Hi, I enjoyed your article a lot. I fully agree that entrepreneurship is not something that is taught in schools, or anywhere really. It only comes through experience. One of my favorite books is called Rich Dad Poor Dad that shows the differences in the way people are raised to view money, and how one can be successful with money, your blog just reminded me of that book, and how you just have to keep working at it. Thanks again. Jon