2 Reasons You Should Start A Business (Even If You Suck At It)

This article starts with a massive disclaimer. There’s a 99.9% chance that entrepreneurship will not make you rich. The time and effort required to run a business usually outweighs the monetary rewards.

While Sigmund Freud may leap out of his grave at the following statement, I’ve never had an interest in building a “Serious” business because my father already did that. And growing up, I got a front row seat to all the stress that comes with scaling a company.

My Dad’s construction firm had a $1 million per month breakeven point. Which means it could bring in $900,000 in a month and still lose money. On top of this, my Dad’s personal profit margin was somewhere around 6%.

Here’s a mathematical illustration of how that pans out.

$13 million in annual revenue would equate to $1 million in profit, and $60,000 of that would go to my Dad.

Keep in mind that the median salary for U.S. high school teachers is $62,870.

Being an eight-figure business isn’t always all it’s cracked up to be. And a lot of industries require huge scale before you see noticeably large profits.

Because of this, today’s article focuses on smaller and less time intensive ventures. This isn’t about forming a tech start-up…