Thursday, October 8, 2009

Worth your time

As an EIR with ETF Venture Funds I get to see a lot of entrepreneurs and the one thing that they all have in common is that they all think their idea or product will be the next $100 million exit.

I have learned a lot over this last year working with some of the brightest people in the industry over at ETF. The most important thing that I learned was that your time is your greatest asset. How you choose to value your time will define how others value it as well.

Over the last 18 months I have had hundreds of entrepreneurs come to me with opportunities. All of which are interesting and all of the entrepreneurs are the type of people you want to be around. It is so easy to be sold on the opportunity because entrepreneurs are so passionate that their enthusiasm becomes contagious. So how do you decide?

Well, here is what I do. I start with my high level goals personally and professionally. Those goals are:
  1. Stability, I want to know that I have some sort of consistent flow of income to offset my bills
  2. Personal freedom, I need the freedom to take time when I want it to go to a game, see my family or travel
  3. Passion for what I am doing, I have to enjoy the role that I will play
  4. Financial independence, I want a real upside... not "i will work for 40 years, save money each year and have something to pay my retirement home bills when I am at the end of my rope"
  5. Make a difference, I want to feel like I have contributed back for all of the blessings that I have been given

Now that I know what my personal and professional goals are I simply weigh each option and come up with the option that provides the best balance.

All of life's decisions can't be put into this type of neat life matrix but the one thing we can do is take a step back and decide where our time will be best spent.

Entrepreneurs are a different breed. We are born with a different way of looking at life and it can lead to an exciting roller coaster ride or a rough existence.

Keep your eyes and ears open! Don't be sold! Don't be muscled! Don't be rushed! Don't be afraid to take great risks!

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