It Is Finished…

Freedom

Well, today is the big day.  It only took a little over 5 years but it’s finally happened…  I’m on my own…  all  alone…

Nothing to be sad about though, it’s nice to be alone – at least in this case.

Two weeks ago on the feast of Saint Therese I put in my two-week notice at my full-time job and decided to the take the full-time entrepreneurial plunge.

If you’ve been reading the blog for a while you’d know that I’ve had a side business for a while and that it’s the reason why my wife was able to stay at home with our 5 kids and so much more.  You’d also know that I never preach that you should just up and quit your full-time job to follow your passion – hence why it’s taken 5 years to get here.  All that said, in this post I want to give some short tips that I think will help you discern whether God is calling you to be a part-time entrepreneur, full-time, or none at all.

Always be praying

This should be obvious as a Catholic, but for guys it’s very easy to think that we had everything under our control. The fact is, if you aren’t doing the will of God, trying to do anything entrepreneurial is either going to fail – or it’s going to cause some sort of chaos within your family.

Look, being an entrepreneur is a really, really tough. It’s probably one of the best ways to see just how selfish, prideful, fearful, and lazy you are. The only way to be successful as a Catholic entrepreneur is to always be focusing on the will of God.

Things take time

We Westerners love to get everything quickly. If something doesn’t come to us right away, we get upset, we complain, and we throw up our hands in defeat. Well I’m sorry to break it to you but the average business takes between 3 to 5 years to see any profit.

That means that if you plan on starting your own business the first few years are going to be focused solely on developing the skills needed in order to actually build wealth.

This should be an advantage for Catholics, but more often than not I see more and more Catholic dads being outdone by other secular men in the business realm. Think about it, I bet you can’t even count five wealthy Catholic entrepreneurs without cheating and going to Wikipedia – my right?

Secular men are kicking our butts when it comes to building businesses. We should have an advantage since we are supposed to be the virtuous ones. If you want to be a Catholic entrepreneur be patient, be diligent, and get ready for one of the most difficult times of your life.

It’s all about the systems

One thing I wish I had learned years ago was that building a business has very little to do with how hard and long you work and more to do with what you build. Your goal in everything that you do as a Catholic entrepreneur, even when just starting out, should be based around building systems. What that means is if you are doing a redundant task you have to ask yourself if that task can be automated, if it could be given to someone else to do (whether it’s a neighbor kid or an actual employee), or if they can be outsourced to another company. Trust me, the more that you systematize the more that you are able to spend time with family, create more revenue streams, and build the skills that you need in order to sustain a long-term business.

This one thing has seriously been the most beneficial skill that I’ve ever learned as an entrepreneur. I have systems that literally make me money while I sleep. That means that I get to spend more of my day helping others rather than continually fighting fires and being reactive to everything throughout the day.

God may not be calling you to be your own boss

Let’s face it, even though you may hate your job right now, even though you may not see your family as often as you like, that doesn’t mean that God is calling you to start a business.

Don’t use this as an excuse not to try, my only reason in saying this is that there is a big difference between learning how to make money and how to build a business. There are a lot more people out there that can do the former and not the latter.

There are a bunch of ways to make money for your family on the side, and I preach the virtues of having something on the side so that you are somewhat protected from layoffs, emergencies, and so one – but that does not mean that you need to start a business. Maybe you’re called to do side jobs here and there, or to buy real estate assets with money that you saved up from your disposable income, or maybe buying websites that are already making money. Whatever the case may be some people are better off finding small revenue streams that can be done with minimal effort and time.

One thing I wish I would’ve done during these last five years was to buy small websites that make money through advertising. Even if they were making $20-$50 a month, if I were to buy multiples over five years with the extra money that I had I would probably be generating just as much revenue now with those sites, without much work, then I am now with a full-fledged business.

(If you want to understand how building asset pools work, read “Rich dad, poor dad”)

Conclusion

Anyway, I’m done rambling. My mind is all over the place so I’m hoping that this at least made a little sense. God is so good, and he will never lead us astray if we stay close to him. No matter what you are called to do, if you are in his will all is good.

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1 Comment

  • Devin Rose

    Reply Reply October 17, 2014

    You did it Dean! Deo gratias. Great to see this come to fruition.

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