Serial part-time entrepreneur shares strategy to hedge your bets in today’s market
When the traditional paradigms of prestige, paths like finance, law and medicine, are no longer guaranteed to lead to financial success, and climbing the corporate ladder is no longer the barometer of achievement it once was, professionals everywhere are embracing entrepreneurship – and they’re doing it part time.
At a time when swings of the stock market show up in the value of your 401k, what if there was a way to make entrepreneurship your insurance policy, giving you the stability of a day job with the excitement of a startup? Venture capitalist and serial, part-time entrepreneur Patrick McGinnis shares a method to reap the benefits of entrepreneurship with none of the pitfalls.
In his new book, The 10% Entrepreneur: Live Your Startup Dream Without Quitting Your Day Job (Portfolio, April 12, 2016), McGinnis details how to invest just 10 percent of your time and resources, and still become a successful entrepreneur without losing a steady paycheck. With his own success story to back up his detailed plan, McGinnis shows readers that being a millionaire or a full-time entrepreneur is not necessary to start racking up small wins, have fun, and learn what it means to be an entrepreneur.
Profiling different real-world success stories, from a cash-strapped recent college graduate who started his own lobster-roll empire while maintaining a full-time job, to a group of friends who met at a 6 a.m. bible study class and went on to start a brewery that now generates millions in sales, The 10% Entrepreneur demonstrates it’s possible to survive and thrive in a volatile market, while minimizing the risks.
“For them, entrepreneurship is a choice that is additive, rather than absolute, and it offers upside opportunity and downside protection, all while making their lives richer and more interesting,” McGinnis explains. “Why shouldn’t the same apply to you?”
McGinnis’s step-by-step plan takes readers from identifying their first entrepreneurial project to figuring out the smartest way to commit resources to it. His book doesn’t just show individuals how to select and engage in projects that will make them successful, he also outlines how they can simultaneously become better at their day job.
Patrick McGinnis is a venture capitalist, serial 10 percent entrepreneur, author and global keynote speaker. He is the managing partner and founder of Dirigo Advisors, which provides strategic advice to investors and businesses operating globally, from the U.S. and Europe to Latin America and other emerging markets. His insights on entrepreneurship and venture capitalism have been featured in top outlets like Business Insider, Huffington Post, Boston Magazine and Forbes. McGinnis holds an MBA from Harvard Business School and is fluent in Spanish, Portuguese and French. He is credited by Boston Magazine with coining the term “FOMO” or “fear of missing out,” a term made popular by millennials and digital junkies, that was added to the Oxford Dictionary in 2013. For more information on Patrick McGinnis and The 10% Entrepreneur, please visit www.patrickmcginnis.com.