Venture capitalist, entrepreneur, and author Patrick McGinnis thought he was doing everything right by working on Wall Street. But now he’s using his book The 10% Entrepreneur to help aspiring entrepreneurs transition out of their day jobs and into a business that they truly love. Find out how you can start monetizing your creative talent, how he coined the term “FOMO” and how to get rid of it, and why you're not going to retire if you’re working with your passion.

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TAKEAWAYS FROM THIS EPISODE:

  1. Do something that’s sustainable, diversified, and you gets you excited.

  2. This is a lifestyle. Create something that you can take everywhere you go until the last day of your life.

  3. Before you jump all in, test out your idea first. See how the market reacts to it.

  4. Surround yourself with people who can give you good advice and keep you accountable to your plan.

  5. You don’t have to work alone. Nobody can do everything well.

  6. Repurpose your time and cut out things that don’t matter to you.

  7. Live it and believe it.

 

MENTIONED ON THIS EPISODE:

Patrickmcginnis.com

Buy his book, The 10% Entrepreneur: Live Your Startup Dream Without Quitting Your Day Job

Get his FREE e-book, How to Become a 10% Entrepreneur

Follow Patrick on Facebook, LinkedIn, Twitter, Instagram

University of Wisconsin study - Should I Quit My Day Job?

The Lean Startup by Eric Ries

Ipsy, one of the creative companies Patrick invested in

Watch how Luke’s Lobster was inspired and how the business took off

Masala Baby

Clement & Claude

Art Thinking by Amy Whitaker

FOMO (fear of missing out) - it really is in the Oxford Dictionary!

The history of FOMO and FOBO (fear of a better option)

 

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