Β #Entrepreneurship #WorkLifeBalance #SelfEmployment #EscapeTheRatRace
Do you ever feel like “escaping the rat race” is just a myth? ππββοΈ Sure, being your own boss sounds amazing, but is it truly achievable without sacrificing all your free time and energy? Here are some thoughts to consider:
– Many successful entrepreneurs end up working long hours and burning themselves out
– Are there entrepreneurs who have managed to achieve financial freedom and retire young without overworking themselves?
– Is self-employment really for everyone, or are some people just more suited for a regular 9-5 job?
If you’re like me and value work-life balance, starting your own business may seem daunting. But fear not! Here’s the solution I propose:
– Consider starting a side hustle first to test the waters and see if entrepreneurship is right for you
– Focus on creating passive income streams that require less time and energy, allowing you to enjoy more free time
– Prioritize self-care and set boundaries to prevent burnout
Remember, your happiness and well-being should always come first. Don’t let the pressure of “escaping the rat race” cloud your judgment. It’s okay to choose a path that aligns with your values and goals. πΌπ
Would you rather hold a glass full of piss for 40 hours? Or one full of a great aromatic drink for 80? While the latter technically requires more exertion of effort, it is a more pleasurable experience.
The issue with “rat race” isn’t primarily the work, it’s about how you feel about the work. When you are doing your own thing you feel differently about it and you have more control, other than that work is work.
By the way i’m not comparing jobs to piss, i actually think jobs can be great and was never someone who idolized only entreprneurship and disdained everything else. The name of the game is to know yourself and what you’re willing and not willing to deal with and what works for you.
Entreprenuers work 24/7 so they don’t have to work 9-5…
Or so the joke goes
Truth is it’s abit of both. Initially when you start your venture you will have to sacrifice a lot of things. You are always on the clock, holiday became non-existence, personal relationship takes a hit, and your work become your life. All this for an even lower pay and stability than a regular job
But once things get off the ground you will get a newfound level of freedom and control of your life. Work whenever you want, with whoever you want, wherever you want, however you want
You make all the decisions and is responsible for all the **success** and **failure** of your venture
But most people quit before things get off the ground, and the one that made it usually do because they actually enjoyed their work
You can decide for yourself if this sound appealing to you
If you are still on edge I recommend you to try to make some money outside of your employment first
Most of us will always answer to someone as long as weβre in the labor force. For business owners, itβs the customers, employees, lenders, etc. By the time most business owners finally βmake it,β theyβve been humbled so many times that they know better than to boast and brag about their success, as they know just how quickly that can all change.
If you win the rat race, you’re just the bestest rat.
>Hence the joke about trying to escape a 40 hour work week by working 80 hours.
Please tell the next five thousand disillusioned guru-bashing slack-asses that. They all post absolutely shocked the course they bought was just what any search could turn up for free.
>I’ve fantasized about starting my own business for a while, but the reality is that I don’t want to have to invest almost every waking moment into my work, and I’m not nearly as driven as a lot of people.
Glass half full, you get to decide what ‘success’ means. If it is some dinky business where you get to rule in hell rather than serve in heaven — you get to have what you asked for — good and hard.
Under-achieving masses rejoice! For you can have a low five-figure-income in exchange for your six-figure job. That is not any kind of problem because — like your exasperated customers — nobody else cares. Where the bastards post here bitching about ramen for breakfast, lunch and dinner … that’s a problem.
Yes. The only way to escape is to sell your business. Small rant incoming:
I had several online businesses (one sold for 2M).
Iβve had to compete with some Indian guys who value their time and life as 0 worth. So they spent 2 years building the same product but free. Sure they go under eventually but thatβs 2 years of margin pressure. Now multiply that by 50x, because everyone thinks βI can do that for cheaperβ and goes on his journey to be their own boss.
Iβve tracked around 20 copycats each having at least a whole year of human life invested before it goes under (almost always by Indians for some reason)
It felt 10 times as a rat race as normal work ever was
I am definitely addicted to work.
I have the option to retire young but I would never take it.
The people who make money never enjoy spending it.
most of the people who make it running a business effectively have running a business as a hobby. its not a fast path to retirement, you are far more likely to both be worse off than a regular W2 worker who lives below their means and invests in index funds and far more likely to get very wealthy since its nearly impossible to get rich-rich off just plain w2 and index funds.
if your goal is just to not work going for one of the early but strong earning paths, being very mindful of lifestyle creep and going heavy into tax advantaged accs and index funds will more reliably get you there. then you just quit when you have 2.8-3.3% SWR (or higher but flexible withdrawal rate). aka comp sci, sales, medicine, finance, trade job for experience -> boring business/union using that experience (depending on the job) – that sort of thing.
Started SMMA this year without experience. Making 30k pre tax this year with about 2-4h extra work per week. Projected numbers should increase next year.
Don’t know if I am ever escaping, but I am hopefully laying a foundation for my children to work with π
No itβs not as in βit existsβ but yes it is as in βmany people can effectively achieve this goalβ.
**Real life examples:**
A friend of mine is in logistics. He got one customer netting him about 30k profit a month. He has some staff and doesnβt worry about work that much. No customer requests, no service, barely maintenance, no marketing. Easy going. He is 30 years old. At 35 heβll be a millionaire. He will have escaped the rat race of some sort.
Another friend of mine is 38 and runs a local business netting him a profit of about 50k a year (after salary). He is in one hell of a rat race every day, trying to put up with all the stuff an entrepreneurial life style throws at him. Customers, repairs, delivery chain, taxes, marketing, etc.
There you go. Iβm sure both intended to archive this goal but itβs not as easy as it seem in the media. Some pull it off, others wonβt.
Do things your own way. If your goal is to have a balanced life where you work in something you love, but it doesn’t take over your life – choose that! I know quite a few entrepreneurs that are doing well, love what they do, and have plenty of time for themselves and their families.
It’s a mindset thing. If you think it’s going to be superhard, and being an entrepreneur means working 80 hours a week, then that is what you will make for yourself. There’s a lot of stuff out there on social media to “glorify the grind”, which is fine if you are into masochistic haha. But it’s definitely not the only way.
If you think it’s going to be fun, you see the activities as play, and challenges as exciting opportunities to learn from you’re going to get a completely different experience.
For example, a trap many entrepreneur fall in is not delegating enough, or fast enough. They still have the mindset that they have to control every part of the business or it will go to pots. That just takes up a lot of time and worry.
All the best!
The thing that happens is this that the goal post keeps moving and it doesn’t stop
Because I hate to be a NPC. I want to become the player. And yes, I’m a fucking workholic.
Actually ‘escaping the rat race’ means actually we have to run fast to go ahead of other rats, so we have to run fast. This phrase itself means we have work more than other do to go ahead of others. Initially entrepreneurs need to work for more than what others work. Generally to succeed this race entrepreneurs must have work 24/7 for on an average 3years. After that there is financial independence, work independence, decision independence in life. Its your choice to work for 40hrs/week for whole life or to work 80hrs/week for 3-4 years
Escaping the rat race is about being smarter, not running faster! Industries are full of shorcuts to multiply your income 10x, but for sure will take effort and sacrifices.
I guess being out of the race for me means having more money than I need or now what to do with, and enjoying my life with family and friends and a healthy body.
Nobody escapes the ratrace by having a short term goal, working for it, and quiting
Whoever gets there is so excited to do so that when they have their exit they start all over again.
If you have this mindset of just working some years and getting your payout, you probably wont get there. The end goal is to make something become reality, not just get money.
Or Be like my dad
Start a Business
Literally sleep in office for like 2 year
Finally able to start delegating work
Go on a holiday spree
Get bored
The cycle repeats
I would not advise entrepreneurship for you. Entrepreneurship is a go-getter realm. People who are not driven are unlikely to make it. It takes a lot of work (and then some more) to get your own business afloat.
Instead, my suggestion is that you look for a career that you enjoy. It doesnβt matter whether you work for someone or on your own. What matters is that you enjoy your work days and make enough to live comfortably. A fun, fulfilling job eliminates the feeling of being in a rat race, employee or not.
Good analogy from βthe millionaire fastlaneβ is that working a 9/5 is a 5:2 trade (You trade 5 days of work and effort for 2 days of freedom each week). Most people trade like this until they are 50+ and then retire.
The way I interpreted this was that the trade is inefficient, especially if you do it for decades. Starting a business is different, business owners will trade a load more time per week now than your traditional 9/5 worker, but they are aiming to efficiently trade for WAY more freedom later (not to mention a lot more wealth and therefore a more fulfilling retiremet).
Define your goals and passions in life and ask yourself whether working a 9/5 will cut it. If it seems like it will right now, then go ahead. If it doesnβt, then youβve got a lot of work to do.
At the end of the day, no employees are retiring as a multi-millionaire by the age of 30. That holiday home you really like and want to raise your kids in over the Summer? Bet an employee doesnβt own it. That luxury sports car you always dreamed of? Ask any owner of one what they do and I guarantee they wonβt say βIβm an employeeβ
By the way, I strongly recommend reading the book
Does anyone have any articles / books that will help gain clarity on this topic?
Nah, I started a business to escape bosses, rules and timed lunch breaks, actually and largely to feel proud of what I βdoβ when talking to others instead of ashamed.
It grew so I was like cool, letβs open a shop, and it grew some more, so I committed more but I felt proud, even though I was exhausted, hired staff, they sucked, closed my shop because I could never get a break, move to a smaller, private premises, brought the staff with me, it was better but they still sucked so managed to restructure so it was just me.
Move home, just me, business just as good, no staff, no rent, no public, just my coffee machine, my weekends back and my sanity.
Profits have increased as I have mental capacity to work on business without so many distractions. Iβve got time to streamline processes.
Iβm not getting rich quick but Iβm happy, have balance, have weekends, Iβm comfortable and I can crank my music as loud as I want all freakinβ day long.
Itβs good.
Working for a boss is hard. So is working for yourself. Choose your hard.
Working at a company you know what youβll earn every year. Working for yourself you donβt. It could by way more or way less. If you doubt yourself stick to a job.
Entrepreneurship is about being passionate about helping people, and bringing satisfaction to your customers.
Become addicted to making people happy until you can sell your company and truly escape the rat race.
You can enjoy the race while youβre running towards the finish line.
It’s a myth. Business owners work harder and longer than employees. Most of them don’t even make as much as employees when you compare full salary and benefits.
I think the only way to escape is to be very comfortable with having very little material possession.
If you lack the passion for the thing you do then itβll be a rat race. Β
When Iβm off βworkβ Iβm still doing and learning and researching as if I was still in school. So I prob βworkβ at least 2x a normal 9-5. Β Everything I do in my free time is related to my profession. Β
But I LOVE IT. Β Β
So imagine doing the thing you do for fun and you get paid for it. Β If you like playing Call of Duty or eating out at restaurants and that became your job. Β Thatβs what my job is like. That fun that rewarding.Β
A mentor once told me, “Success isn’t measured by hours worked, but by goals achieved.”
If your goal is a balanced life, structure your business to align with that.
Don’t shy away from entrepreneurship; shape it to fit your lifestyle and values.
Doesn’t need to be complicated.
You bring up a valid point. βEscaping the rat raceβ through entrepreneurship can be both a myth and a reality. Many entrepreneurs do end up working longer hours, especially initially, which is why the joke about escaping a 40-hour work week to work 80 hours resonates with many.
However, being your own boss can be fulfilling and potentially lucrative. The key is to understand your own drive and define what success means to you. If youβre not keen on investing every waking moment into your work, traditional entrepreneurship might not be the best fit. Consider alternatives like freelancing, consulting, or starting a side business that offers more balance.
Ultimately, itβs about finding a path that aligns with your values and lifestyle.
Work is a good thing. You have not found your love yet
Its not about not working, but about not being owned by someone else.