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Top 4 Alternatives to Entrepreneurship - 4 Other Ways to Make Serious Money - YouTube
Channel: Practical Wisdom - Interesting Ideas
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It’s 7 PM, you literally just got back home.
You go to your living room and you sit on
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the couch, all tired and ready to relax
a little after a long day of hard work.
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You take your phone out of your
pocket to check social media,
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and you see that someone is trying
to connect with you on Instagram.
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You check the message, and it isn’t a friend.
It isn’t even someone you remotely know,
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it’s another marketing guru that is trying
to sell you something. You receive those
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types of messages on a daily basis, and
just out of curiosity you check his link.
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It sends you straight to his website. It’s a very
very long sales page, and he is trying to tell you
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how to escape the 9-5 and build the life of
your dreams. He “wants” to teach you how to
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make impressive amounts of money, directly from
home, doing whatever you like on social media.
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Obviously, he is willing to teach
you all this for the humble price of
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25 hundred dollars, that you
are supposed to pay right away,
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without the guarantee of results or of a refund
of any kind. you already know how all this goes,
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he sells this idea that entrepreneurship is easy
and that anyone can do it with little to no work.
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That’s false, it’s a lie. And you know it. You
know that in order to become an entrepreneur and
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actually succeed a lot of work is required, except
for some cases, where either get lucky, or they
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start at the right time and in the right industry.
However, that’s the “one in a lifetime” kind of
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opportunity. To become an entrepreneur, you need
to commit to working more than 60 hours a week,
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sacrifice friends, sometimes family,
and definitely hobbies and recreation.
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We’re talking about high-risk,
high-reward situations.
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Entrepreneurs put everything on the line to
develop great products in the hope of profit.
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These gurus don’t understand what it
really takes to become an entrepreneur,
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and they sell you this false ideology
that you can become one with no effort.
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Is entrepreneurship even worth it?
Here’s the truth. For most people,
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entrepreneurship is not worth it at all. If
you aren’t seriously obsessed with success,
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generating impressive value, and freedom,
you won’t become successful. You might
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start a little brand and make something
like 40K per year, but nothing serious.
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The thing is, entrepreneurship
has a lot of benefits…
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Financial Freedom
Entrepreneurship gives
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you the freedom to do whatever you want, whenever
you want, once you are successful. Especially when
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it comes to internet businesses, you can take
care of them remotely. Many young people that
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have succeeded actually are nomads, and travel
the world while making crazy amounts of money.
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Don’t even worry about the price tag anymore
This is so underestimated. It is so fulfilling
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when you go shopping and you don’t have to
worry about the price. You just buy things,
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without keeping track of the price and
worrying that you’ll max out your card.
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Take care of your loved ones
When you have a business,
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you can take care of your family like most
people can’t. You can let them quit their jobs,
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you can buy them a car, even a house, and
give them the life they always deserved.
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Give back to the community
If there are charities that you care about and
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the foundations you want to help, entrepreneurship
will give you this opportunity. Many people think
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that money is “the root of all evil” or whatever.
But without money, the impact you can have on the
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world is so very small. If you seriously
want to change the world, you need money.
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Do you really have to become an entrepreneur?
So all these upsides are amazing, right?
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You don’t have to listen to a boss, you
decide when to work and when to play,
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you work for yourself, it’s great! But is
entrepreneurship the only way to achieve that?
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Actually, no. There are other easier and
less risky ways to develop impressive success
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without necessarily putting everything on
the line. They are definitely less rewarding
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but they will work for most people and they can
still make you millions and millions of dollars.
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Interested? Well then keep watching. I’m about to
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explain to you the best alternatives to
entrepreneurship that everyone can try.
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Before we talk about that, please take a second
to like this video and subscribe to our channel.
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We are very focused on creating and delivering
high-value content to you every other day.
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IF you’re looking to 10X your income
and become a better version of yourself,
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this channel is for you.
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Done? Good. Now let’s keep going.
intrapreneurship
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If you think, act, and work just like an
entrepreneur but you don’t like taking the risk.
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Here’s an alternative for you: intrapreneurship.
This is basically just like an entrepreneur,
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but within the company, and you could
have many roles. Here are some examples:
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Coo
COO stands for Chief Operating Officer,
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and usually is the number two of a company. The
COO overlooks the day-to-day administrative and
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operational functions of a business. He’s also
often referred to as senior vice president,
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and he reports directly to the CEO.
He works closely with the founder,
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and he does indeed make a lot of money.
CTO or CIO
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CTO stands for chief technology officer and CIO
stands for chief information officer. They are
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very similar and easy to understand. The CTO, for
example, oversees technology and creates relevant
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policies. He takes care of the technological
needs of the company and he also is in charge of
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research and development. Often the CTO reports
to the CIO, who’s got a very similar role,
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and often reports to the CEO.
Cfo
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Cfo stands for chief financial officer and
he overlooks all financial activities of the
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business. He obviously works very closely
with accountants and advisors to decide
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whether investments are worthwhile or not, how
to increase profitability, manage tax, and more.
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So, he’s got to deal with financial
planning and cash flow on a daily basis.
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CMO
This is probably the most
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interesting one for most young people. CMO stands
for chief marketing officer, and this person takes
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care of all marketing activities. Marketers,
especially in the 21st century, have acquired a
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very important position in businesses as marketing
is such an important part of any company.
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The CMO also has huge responsibilities, as he or
she can make the difference between a successful
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and an unsuccessful marketing campaign.
Is Intrapreneurship for you?
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Well, no one has the answer except for you.
The thing is, intrapreneurs don’t really
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have a lot of credit, and being one is more
common than you actually think. For example,
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even Steve Job’s, founder of Apple, was
an intrapreneur for a long period of time.
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As you probably know, Job’s was actually
fired from the position of CEO of Apple
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in 1985. Meanwhile, he started other
ventures, like Pixar, but then he got
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back at Apple as an intrapreneur and
got a big chunk of Apple’s equity.
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Just to give you more perspective, Steve Ballmer
was hired by Bill Gates at Microsoft in 1980
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and he became the richest intrapreneur in
the world. He also became CEO of Microsoft
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before leaving the board later on. His net worth
is estimated to be 74.1 billion US dollars.
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You are a great potential intrapreneur if:
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• You think like an entrepreneur. You always look
for ways to generate more money, make the product
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better, and solve issues in innovative ways.
• You work like an entrepreneur: we’re talking
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about 60 to 100 hour work weeks.
• You innovate and you are driven by
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results. You are focused on solutions
and you are a great problem solver.
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• You act as if the business is yours.
Intrapreneurs protect the brand just like the
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CEO would, because he worked very hard to grow it.
• You don’t want to put everything on the line
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and risk it all in order to
become an entrepreneur or founder.
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Intrapreneurship is a really important topic
simply because most people don’t even know
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that this option exists, and it could seriously
be a valid one for a lot of people. But that’s
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not it. There are other smaller options that you
can choose to make serious money without having to
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become an entrepreneur. Here are some examples.
Sales
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Working in sales is NOT for everyone. It
takes courage and a lot of determination
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to become a salesperson and talk to hundreds
of people on a daily basis. When you sell,
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you need to get used to being rejected every
single day. You need to understand how and
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why people buy in the first place, and how you
can get them to purchase as often as possible.
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You can make a lot of money as a salesperson,
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especially since you’re often paid on
performance. This means that the better you are,
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the more money you’ll make. You can easily
generate a 6-figure income as a salesperson.
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Sales is for you if you’re extroverted
or if you are trying to push your limits.
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If you want to become more confident, social,
persuasive, sales will help you. It will teach
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you how to be charismatic, how to deal with
people, and how to get them to do what you want.
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If you think that you have what it takes to build
relationships with customers and get them to buy,
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you should definitely consider sales as a career
opportunity. If you are interested in sales,
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we actually made a video on the basics of
selling that you can check out to start learning
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the skill. It’s called How to sell anything
to anyone, we put a link in the description
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below for you to check out.
Solopreneur
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A solopreneur is just like an entrepreneur,
but he does everything by him or herself.
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A solopreneur has to deal with
all aspects of his business,
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from legal to financial. He
also has full responsibility
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over his business. This is a huge advantage
for some people. If you like working alone and
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you want to be 100% responsible for everything
that goes on in your business, this is for you.
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Even though you have some limits as a solopreneur,
you still can make 6 figures and maybe 7.
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Freelancing
A freelancer is fairly
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similar to a solopreneur, but he usually has less
responsibility and only sells services. There are
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many, many types of freelance activities that you
can choose from, for example video making, video
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editing, colour grading, audio engineer, producer,
writer, copywriter, sales guy, and so much more.
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There are some other differences between a
freelancer and a solopreneur, and they have
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a lot to do with business model and limits. You do
have less earning opportunities as a freelancer,
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but you can possibly make 100
thousand dollar or more a year.
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If you’re interested in starting your freelance
career, it doesn’t take a lot of time, and it
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takes little to no money to get started. We made
a video on how to get clients as a freelancer,
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and it contains literally everything
you need to find your first clients.
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We've put a link in the description below.
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And that’s it for today. Remember to check out
the 2 videos in the description below for more
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details on what we discussed today. Subscribe
to this channel now for more information on how
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to make money, entrepreneurship, personal
finance, and more. Thank you for watching,
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have a great day and I’ll see you in the next one.
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