The 10% Entrepreneur
b'I interviewed Patrick McGinnis, author of The 10% Entrepreneur Is one job enough in today\\u2019s workplace?\\n How can I try something new with a zero \\u201copportunity cost?\\u201d\\n What is The Imposter Syndrome and how can I avoid it?\\n Should everyone be an entrepreneur?\\n Summary:\\n In this episode, Dan Miller interviews Patrick McGinnis, author of The 10% Entrepreneur. One of the things that might be hindering people from testing the waters of entrepreneurship is their love of their full-time jobs. However, Patrick believes you don\\u2019t have to give up your career to become an entrepreneur. Listen as they discuss the concept of the 10% entrepreneur and the possibilities that are available to you if you\\u2019re willing to invest just a little bit of time and courage.\\n Sponsored By:\\n FreshBooks is offering a 30 day, unrestricted free trial to my listeners. To claim it, just go to https://www.freshbooks.com/48days\\xa0\\xa0\\xa0\\n \\xa0\\n Time Stamped Show Notes:\\n 01:21 \\u2013 Preview of Today\\u2019s Show on The 10% Entrepreneur\\u2026I interviewed Patrick McGinnis, author of The 10% Entrepreneur Is one job enough in today\\u2019s workplace?\\n How can I try something new with a zero \\u201copportunity cost?\\u201d\\n What is The Imposter Syndrome and how can I avoid it?\\n Should everyone be an entrepreneur?\\n \\n 02:40 \\u2013 Dan knows all people have an idea that they\\u2019d like to pursue or develop\\n 02:55 \\u2013 A few months back, Dan talked about how you can make massive progress in a business at 15 hours per week\\n 03:13 \\u2013 15 hours should be divided by 4 areas \\u2013 reading/studying, creating content, working with clients, and marketing efforts\\n 03:56 \\u2013 The new 48 Days Eagles site caters to help people who need their first job or promotion\\n 04:46 \\u2013 Dan\\u2019s guest for today is Patrick McGinnis, author of The 10% Entrepreneur 05:14 \\u2013 40% of millennials have a side gig, but only less than 10% of those want to leave their jobs\\n 05:47 \\u2013 Patrick is extremely successful, but only wants to be a 10% entrepreneur\\n \\n 06:53 \\u2013 FreshBooks is offering a 30 day, unrestricted free trial to my listeners. To claim it, just go to https://www.freshbooks.com/48days\\n\\n 08:49 \\u2013 Dan plays the interview with Patrick 09:41 \\u2013 Dan doesn\\u2019t believe in an entrepreneurship hierarchy\\n 10:04 \\u2013 Patrick wrote this book because he was working in his dream job until the financial crisis came in 2008\\n 10:46 \\u2013 \\u201cNo matter what path you take, there is this volatility that you can\\u2019t see\\u201d\\n 10:57 \\u2013 People need to diversify\\n 11:34 \\u2013 Patrick\\u2019s book says people can do something on the side apart from their jobs\\n 12:14 \\u2013 Statistics show people who have a side business while in a job are 50% more likely to succeed in their ventures\\n 13:43 \\u2013 10% entrepreneurs means to be part of something \\u2013 either starting a business or investing in a business\\n 14:00 \\u2013 Place your strengths at the intersection of what you\\u2019re good at and what you love to do\\n 14:45 \\u2013 Combine what you love and what you\\u2019re good at to be successful\\n 17:10 \\u2013 Patrick asked friends and himself a set of questions to figure out what he wanted to do\\n 17:55 \\u2013 The list of questions can be found in the book, The 10% Entrepreneur\\n\\n 18:54 \\u2013 The big paradigm shift Patrick is trying to make happen is in the idea of ownership\\n 20:10 \\u2013 A business should be able to make money without the entrepreneur\\n 20:43 \\u2013 Patrick tried freelancing and he liked the flexibility and autonomy\\n 20:49 \\u2013 The freelancing game is over when the freelancer is out\\n 22:00 \\u2013 Dan opens up about the \\u201cimposter syndrome\\u201d\\n 23:07 \\u2013 Patrick relays his experience with the imposter syndrome\\n 23:27 \\u2013 The 10% approach is very incremental and practical so even if you fail, you don\\u2019t lose much\\n 24:25 \\u2013 FOMO \\u2013 Fear Of Missing Out\\n 25:00 \\u2013 The idea of people being overachieving\\n 25:15 \\u2013 FOBO \\u2013 Fear Of Better Options\\n 25:34 \\u2013 Patrick wrote an article, McGinnis\\u2019 Two FOs\\n\\n 26:05 \\u2013 Statistics show that 70% of millennials make major decisions in their lives because of FOMO\\n 27:26 \\u2013 You need to choose things that fit well in your life\\n 27:52 \\u2013 Patrick is very careful in bringing things into his life\\n 29:02 \\u2013 Patrick believes everybody should try doing the 10% concept\\n 30:20 \\u2013 40% of millennials have side gigs, but less than 10% want to leave their jobs\\n 31:35 \\u2013 The underlying feeling in corporate America\\n 32:02 \\u2013 Vast majority of people are not interested in leaving full time jobs\\n 33:32 \\u2013 A lot of companies create a 10% entrepreneur for themselves\\n 34:33 \\u2013 Patrick shares how his 10% fits together with his lifestyle\\n 36:28 \\u2013 The paper value of all Patrick\\u2019s investments are now 20x\\n 37:35 \\u2013 Patrick loves constructive criticism\\n 38:17 \\u2013 \\u201cWhen you\\u2019re an entrepreneur, the easiest thing you need to do is to say why something won\\u2019t work\\u201c\\n 39:08 \\u2013 Check out Patrick\\u2019s book on his website\\n\\n 39:33 \\u2013 Download the official 10% Workbook here\\n\\n 40:32 \\u2013 You can download the book on Audible\\n\\n \\n 42:04 \\u2013 Innovate \\u2013 May 11-12, 2017\\n 42:59 \\u2013 Coaching with Excellence \\u2013 May 25-26, August 31-Sept 1, 2017\\n 43:08 \\u2013 Social Media Marketing World \\u2013 March 22-24th in San Diego\\n 43:13 \\u2013 The new 48 Days Eagles site \\u2013 This is the best place for moving your career forward\\n 43:50 \\u2013 Dan closes today\\u2019s podcast\\n 3 Key Points:\\n It is definitely possible to build a business on the side while holding on to that full-time career.\\n Invest your energy where your passions and your strengths intersect.\\n Bring a new venture into your life because you\\u2019re passionate about it and it fits\\u2014don\\u2019t do it for fear of missing out.\\n \\xa0\\n Resources Mentioned:\\n To ask Dan a question for the podcast \\u2013\\xa0AskDan\\n\\n \\nThe new 48 Days Eagles site \\u2013 This is the best place for moving your career forward\\n Make money and serve as a 48 Days Seminar Presenter\\n\\n Go to com/48Days and get a free audio of Zig Ziglar\\u2019s See You at the Top!\\n\\n \\nFreshBooks is offering a 30 day, unrestricted free trial to my listeners. To claim it, just go to https://www.freshbooks.com/48days\\n\\n \\nCoaching with Excellence \\u2013 May 25-26, August 31-Sept 1, 2017\\n \\nInnovate \\u2013 May 11-12, 2017\\n \\nSocial Media Marketing World \\u2013 March 22-24th in San Diego\\n Credits:\\n Show Notes provided by Mallard Creatives\\n \\nLearn more about your ad choices. Visit megaphone.fm/adchoices'