Entrepreneurship

Are you really going to do this:

  • Go to school for 12 years. Go to school for 2-6 more years. Then go for 4 more years if you really want success.
  • Get a job at the bottom of the totem pole. Work for 30-40+ years to climb the pole and save for retirement.
  • Retire at 70s. Too old at this point to really do what you love. Just sit and complain and wonder what happened and where did time go.

Working in an environment where many people play politics, backstab, take each others credit (and discredit each other) to “win” the game of politics and career? Earn more money at the cost of my mental health, social health and life? Nah, no thank you. Maybe it’s for some people who likes that – good for them.

Maybe you’re like me, who can’t take that kind of shit and prefer the direct and practical approach, which is entrepreneurship: to build a business that I love. Never mind that I earn less (at least in the beginning), but oh come on, who wouldn’t enjoy being paid $50,000 a year to do what they love?

  • For some of you, it could be a business all about peanut butter (yum!)
  • For others, it could be a business about some obscure writing pen
  • For that bunch of people, it could be writing love stories
  • For a group, it could be writing about One Piece manga (oh my goodness, my favorite)
  • For some, it could be a business all about miniature art.

And the list goes on and on.

Imagine that.

I’ve been an entrepreneur officially since 2008, and I will single-handedly say to you this, there are so many reasons for entrepreneurship, which taught me and made me realize all the different areas to learn and master in life for a good and happy life.

First and foremost, the first goal of entrepreneurship is to

Learn To Diversify Your Income & De-concentrate Your Single Income

100% of a single income is significantly high risk…

It doesn’t matter if the amount is high (ie high salary). This is very important, because just by losing your job, maybe due to

  • COVID
  • Jealous colleague
  • Insecure boss (or worse, a superior who wants something personal from you)
  • Disease / injury
  • Someone you love needs you
  • Etc

And poof! Just like that, 100% of a single income is wiped out.

No matter how high the income was, zero = zero.

Entrepreneurship Gives You Options & Growth In Life

Ever since I read Robert Kiyosaki’s Rich Dad Poor Dad, which opened up my eyes to the world of positive recurring cashflow via rental properties and business in 2002 (when I was 20 years old), I’ve been on a ever-learning and growing journey on entrepreneurship, which is learning how to build assets (businesses) that are profitable that will provide me with multiple streams of income.

…and I’ve concluded that passive income is 100% required “unlock the next stage of our lives”, which is to be able to achieve our highest sense of self and fulfillment.

It’s impossible when we’re struggling and barely surviving.

If that’s you, then all the more pay more attention, focus and energy on learning to start your profitable passive income entrepreneurship adventure with me.

Why Entrepreneurship?

I started my entrepreneurship journey back in 2008, and now as I look back, entrepreneurship meets so many of my needs (from earning more, to learning more etc) that I sometimes don’t know where to start.

A simple list would include:

  1. Growth Hack / Constant Learning
  2. Earn More (Improve Your Quality of Life)
  3. Entrepreneurial Skills Are Valuable…Which Tends To Be Recession-proof
  4. Profitable Enterprises and Businesses Are Valuable
  5. Build A Business That Aligns With Your Values & Culture
  6. Time / Schedule Flexibility
  7. Autonomy + Options + Flexibility: You Decide**
  8. Meet Like-minded People
  9. Expect The Unexpected, Serendipity & Thrilling Experiences: Not Boring or Mundane…and Possibly Find Meaning Or Purpose
  10. Greater Self Confidence, Leadership & Communication Experience
  11. “Best” Offices
  12. Your Unique Meaningful & Creative Legacy + Deep Work
  13. Don’t Waste Time

Read the details of entrepreneurship benefits here.

I wont claim that I know what makes you happy / happier, but I know that entrepreneurship just rocks my boat. As mentioned, it just checks so many of my needs and I think that it may help you in some of the lists I mentioned above.

Overall, what’s the most important thing about entrepreneurship is, to me, is that it scratches my curiosity and growth itch; and financially, it provides me flexibility and options in life.

I start my day around 10 AM on weekdays so I can take my kids to school. Then go to the gym on certain days. Have lunch meetings other days. Of course, do my job and responsibilities well when I work. And then siesta back to school to pick them up after their classes. If I want to meet friends for coffee and catch up, I arrange around my schedule.

If I want to pursue or purchase what interests me, I’ll research and if it’s an easy buy, I buy it. If I need to save up a bit more, I do that.

And that’s what I want – spending time with people I love as well as pursuing stuff that I’m curious and interested in.

The real question is, why not?

Why Not Entrepreneurship?

I cannot imagine why people or anyone wouldn’t want to learn and earn more with entrepreneurship. There are so many reasons like the ones I mentioned above why entrepreneurship is awesome.

…but as I grow older, I realize that not everyone has the preference, time or patience for entrepreneurship.

Don’t get me wrong, the upsides and the learning to me is awesome, and I swear by it, but there’s lots of challenges too:

  1. 95% of businesses and start ups will fail.
  2. It can be lonely working by yourself (at least in the beginning, especially for those who love social interaction)
  3. The lessons can be intense and tough and at times very frustrating
  4. It takes time to grow

Entrepreneurship, is a skill and a talent. And like all skills, to master it, it requires a lot of

  • growth and learning mindset
  • patience, dedication and perseverance
  • investment in a mentor who has done exactly what you wish to achieve and a community to support you
  • going through doubt, rejection and even friends and family members who do not understand may laugh at you

If it’s so easy then of course everyone will do it.

There’s a reason why one often hears “this is not for everyone” – and that is true. Because learning to build a profitable business is hard.

Blood hard I must say.

Start Today. Now.

Last year and yesterday would be the best time to start – that time has gone, and there’s nothing we can do about that.

The second best time to start will be today, right now..which you can decide and do now.

If not today, then when?

Where would you be in one year’s time?

If you’re happy where you are, then stay where you are. But if you want to level up your life…you have to make some dedicated and consistent changes.

If you don’t take any actions and keep doing the same things at the same place, chances are, you’d end up at the exact same place, one year from today. The definition of insanity is doing the same thing over and over again and expecting a different result –  Albert Einstein

So if you want to transform your life and have a future and passive income streams, choose to invest in learning how to do so today.

Entrepreneurship My Answer To Personal Growth & Freedom

The individual on his or her entrepreneurship journey is a person who builds a lifestyle business that runs and automates with the power of technology, providing ongoing value 24/7 to their clients. In turn, this provides passive income in payment for the value.

I’ve been writing here in nigelchua.com since 2008/2009, and I realized that I actually really, really like both personal development and entrepreneurship. As I mentioned earlier, entrepreneurship was my natural conclusion that helps me to

  • learn so much about myself, growing more etc
  • earning more
  • etc

As I earned more and invest more (and became better at delegation, outsourcing, leadership and management) – I started having more time to myself to spend with my loved ones, reading, thinking, writing – doing stuff I like and that interest me.

And that’s when I realized that earning more sustainably and consistently unlocks the next phase of my life, where I am not driven “just” by money (making money is still nice, but it’s nicer when you don’t have to worry about money) – and that’s why I share with everyone I meet today to earn more with entrepreneurship.

I wasn’t born into rich family, and I will not marry for money, nor will I beg for money, hence my conclusion and solution is to start my own entrepreneurship journey. I started with offline freelancing, and hustled my way up (can read more of this below), but it is bloody tough.

These days, I recommend friends, families and entrepreneurs to keep their jobs first and start with side hustles during their weekends or off days first. This is important to:

  1. have secure and stable day job income to have roof over your head, food, hot water etc (especially if you have dependents like spouse, kids or pets) – keep you sane
  2. test the market and themselves (it’s really easy to lose steam and get bored or distracted) cos some are just talkers/dreamers who prefers to dream and not achieve

ONLY when the side hustle earns at least 50% of what their 9-5 offers them, then they can consider exiting their 9-5 and focus full time on their business – this allows sustainable growth and success.

Entrepreneurship Is NOT For Everyone

It’s just not for many reasons, be it timings, seasons, motivations, fear, too hard, too tired – there can be so many reasons to not embark on this transformative journey.

You need to find your REASON FOR and WHY, your reason to start and grow your passive income entrepreneurship adventure, not dwell on the can’t/won’t/didn’t.

Remember, fortune and luck and growth and profits favor those who are diligent and those who take action and those whose visions and dreams are so strong, it pull them forward towards their future and destinies.

Without a strong and compelling reason and consistent actions in the directions of our goals, all motivations, dreams and hopes remain as that. “Just” dreams and hope.

So

  • if you’re not ready to commit to change and learn new passive income habits and streams
  • if you don’t have the funds to invest (or don’t want to)
  • if you just don’t believe in it
  • if you don’t believe in yourself
  • if you don’t want it for yourself
  • if you’re not feeling well

It’s okay too, sometimes it’s timing and things. Do what you need to do first. Come back later when you can and when you’re ready to transform your life and future by starting your passive income entrepreneurship journey..

I’ll still be here.

Of course I would have grown more by then, I won’t be at the same spot hohoho

When you’re ready, I invite you to come join me on entrepreneurship – and for the massive and consistent action takers:

You will find and receive what you seek earnestly and consistently.

The reason why this is the case is because we can only save on how much we make, ie if we make $2000, at best, we can only save a percentage on $2000 – be it 5% or 50%.

With entrepreneurship, when done right – it can quickly add $500 or $1000 or more to our bottomline, every month…in the beginning. There is a lot of room and ways to scale and earn more. THIS will be a marked difference between “saving” and starting an online business.

An example is I used to earn $2000 per month as a therapist in a large public hospital – I wasn’t gonna waste time trying to win the game of petty healthcare politics and spending tens of thousands of dollars and maybe get an additional 3-5 years bond to “just” increase my salary by a few hundred bucks a month.

Fuck that.

Instead, I decided to be an entrepreneur, where I knew there is no limits, but I went ahead and learnt the hard way, and got cheated, learnt many business, leadership and entrepreneurship lessons – all these lessons, I take them as investments to improve myself.

My results at a glance:

  • 2007 – my take home pay per month as employee was $1700 (gross $2000)
  • 2008 – my 1st month as freelancer was $4800
  • 2010 – dividends as business owner was $30000 per year
  • 2013 – $100K dividends per year
  • 2014 – business acquired for 7-figures
  • 2017 – exited the acquired business because my work was complete there, ready for next phase
  • 2018 – started my 18 months sabbatical away from therapy business and focused on online business and publishing
  • 2019 – invited to my wife’s physiotherapy business and turned it around from multiple setbacks to strong-accelerated growth business
  • 2020 – multiple businesses, multiple online assets, growing therapy business, creating sustainable growth and and more – it’d more than like 100X from here

I’m having a ball of a time right now, and I won’t have this if I stuck to my $2000 a month job. Sure, I may have some raises along the way, but oh boy – it started with a dream and desire.

Caution To Wannabes & Scammers

  1. If you’re in it just for the money, which has its own merits but lots more downsides, boy I gotta tell you – you’re not going to last. Because entrepreneurship is grueling, hard work. And when shit hits the fan such as downtimes and depressions, you’d be shaken out.
  2. If you’re hanging out with the “rich and powerful waiting for handouts and crumbs” – again, you’re gonna be sorry…cos they know this about you and will use you to do stuff you’re not gonna like. AND you may not get your payday you’re looking for from them.
  3. If you’re in entrepreneurship because it looks glitzy and glamorous on some social media platform…good luck to you. All those kind of videos focuses on selling you the “glamorous and cool” aspects of being a successful entrepreneur (on video at least). It’s for show and to sell you the dream.
  4. If you’re here for a quick buck by scamming or cheating….don’t. Just don’t. It’s just plain wrong.

There is truly a lot of work when it comes to entrepreneurship.

You gotta go deep, you gotta be hungry.

If not, you’re gonna drop out when it gets tough.

Can I Start Small? Like “Go Easy” Into Entrepreneurship?

I recommend starting small, learning the ropes, applying and growing.

In fact, staying “small” as a freelancer has many perks such as flexibility without the demands of a growing or large agencies (one of my physical businesses is a physical therapy and rehab agency which is highly competitive and demanding – but I love it and am fairly good at it).

Types Of Easy, Beginner Level Entrepreneurship

These can include

  1. freelancing / service business
  2. coaching
  3. consulting
  4. starting an online business*

#1, #2 and #3 are the easiest to start because they’re in demand everywhere. Click on the links to read more about them.

*at this stage of my life, I highly recommend #4 online business because of so many reasons: read why I recommend starting online businesses here.

Side Hustle & Entrepreneurship Ideas and Opportunities

There are literally dozens if not hundreds of side hustle and entrepreneurship opportunities out there: read them here.

Where To Next?


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