In The 10% Entrepreneur, Patrick McGinnis shows you how, by investing just 10% of your time and resources, you can become an entrepreneur without losing a steady paycheck.
Patrick McGinnis: You can be a 10% entrepreneur
McGinnis details a step-by-step plan that takes you from identifying your first entrepreneurial project to figuring out the smartest way to commit resources to it. He shows you how to select and engage in ventures that will provide you with upside outside the office while making you better at your day job.
Part-time entrepreneurship offers compelling advantages: you will (i) diversify your career against risks, (ii) generate meaningful upside, (iii) make life more interesting, and (iv) think like an entrepreneur to win at your day job.
Patrick is a venture capitalist and private equity investor who founded Dirigo Advisors, after a decade on Wall Street, to provide strategic advice to investors, entrepreneurs, and fast-growing businesses. In this capacity, he has worked in a range of settings, from building startups from the ground up in Silicon Valley to acting as an expert consultant to the World Bank in Latin America, Africa, and the Middle East.
When you are a 10 percent entrepreneur, you seek to invest at least 10 percent of your time and, if possible, 10 percent of your capital into new opportunities. By leveraging your base of experience and your network, you choose opportunities that play to your strengths and that are complementary to your career and your interests. In doing so, you achieve more than just diversification. You also learn what it means to be an entrepreneur so that you can bring that thinking back into the rest of your career in order to achieve more and position yourself for greater success in a changing world.
If you have ever considered launching a startup, you may feel that it requires an all-in, 100% percent focus, which would mean leaving a full-time job. A new book by Patrick McGinnis, venture capitalist and founder of Dirigo Advisors, argues that all you need is 10% of your spare time to become an entrepreneur. Patrick stopped by the Knowledge at Wharton Show on Sirius XM channel 111 to talk about the book, The 10% Entrepreneur.
McGinnis: Yes, there are five types of 10% entrepreneurs, and each one will be tailored to you. You can be more than one, of course. You choose your path based on your resources and the time and the capital and the knowledge and relationships you have.
Knowledge at Wharton: We mentioned the beer industry as being a segment that really plays into being a 10% entrepreneur. Are there other sectors out there that are leaning that way right now?
The London team were pleased to welcome Patrick McGinnis to Google, to discuss his latest book "The 10% Entrepreneur" and the multiple paths you can follow to invest your cash, time, and expertise in areas you feel passionate about. Choosing between the stability of a traditional career and the upside of entrepreneurship? Why not have both? What if there was a way to have the stability of a day job with the excitement of a startup? In The 10% Entrepreneur, Patrick McGinnis shows you how, by investing just 10% of your time and resources, you can become an entrepreneur without losing a steady paycheck.
Patrick J. McGinnis is a venture capitalist and private equity investor who founded Dirigo Advisors, after a decade on Wall Street, to provide strategic advice to investors, entrepreneurs and fast growing businesses. He is also a 10% entrepreneur, investing in, advising and launching a diverse portfolio of companies and investments in the United States, Latin America and Asia.
You don't have to quit your day job to become a successful entrepreneur! The 10% Entrepreneur, Patrick McGinnis - venture capitalist and private equity investor -- shows you how, by investing just 10% of your time and resources, you can become an entrepreneur without losing your steady paycheck. Using Patrick's insights could help you gain the insights you need to achieve the next level of career success. He'll discuss the multiple paths you can follow to invest your cash, time, and expertise in areas you feel passionate about.
Patrick J. McGinnis is a venture capitalist and private equity investor who founded Dirigo Advisors, after a decade on Wall Street, to provide strategic advice to investors, entrepreneurs and fast growing businesses. He is also a 10% entrepreneur, investing in, advising and launching a diverse portfolio of companies and investments in the United States, Latin America and Asia.
I never thought I would be an entrepreneur. In fact, I was happy in corporate life. But when my job in corporate America blew up, I realized that I need to rethink my entire approach to building my career and my life. The result of these efforts is The 10% Entrepreneur. Over the past decade, I have integrated entrepreneurship into my life on a part-time basis, reaping meaningful financial and psychic rewards in the process. In the process, I have taught hundreds of thousands of others that entrepreneurship does not have to be an all-or-nothing proposition.
In The 10% Entrepreneur, Patrick McGinnis shows you how, by investing just 10% of your time and resources, you can become an entrepreneur without losing a steady paycheck. McGinnis details a step-by-step plan that takes you from identifying your first entrepreneurial project to figuring out the smartest way to commit resources to it. He shows you how to select and engage in projects that will provide you with upside outside the office while making you better at your day job.
As a professor at Harvard Business School, Eisenmann has taught a generation of entrepreneurs how to launch and scale businesses. He has then watched as some of these promising businesses fail. This book explores the 6 major patterns of failure in entrepreneurial ventures, shows how they play out in the real world, and gives you the tool to avoid a similar fate.
It's no secret that the world of work has changed, and we're shifting toward an ever more entrepreneurial, self-reliant, work-from-wherever-you-are economy. That can be a liberating force, and many professionals dream of becoming independent, whether by starting their own businesses, becoming consultants or freelancers, or developing a sideline.
Innovation comes in unusual sizes and shapes, but few over the past half-century have had as much impact as the mundane, rectangular steel shipping container that is the star of The Box. The best entrepreneurs come up with ideas that solve problems, and Marc Levinson tells the story of the trucking executive who reinvented the way products are moved around the globe. Put simply, containerization made globalization possible. "It was not routine for shoppers to find Brazilian shoes and Mexican vacuum cleaners in stores in the middle of Kansas. Japanese families did not eat beef from cattle in Wyoming, and French clothing designers did not have their exclusive apparel cut and sewn in Turkey and Vietnam," Levinson notes. Shipping may not sound sexy, but he takes us on a fascinating journey about a transformational innovation.Explore this bookThe BoxByMarc Levinson,
Uganda is nevertheless an interesting case study. Despite the unusually high entrepreneurship spirit, a great many businesses often fold before clocking 42 months. Although more will rise in their place, common sense dictates that a good business-minded individual should give pause and try to analyse why so many businesses fail and how they can do different. And this for this reason that this post came to be.
In his book, McGinnis provides an insight into the world of venture capitalism and entrepreneurship, basing on 15 years of experience as an investor in 22 startups in the United States, Latin America and Europe. Credited by the Boston Magazine for coining the term FOMO -Fear Of Missing Out-, McGinnis discusses a novel approach to entrepreneurship that should appeal to first timers and seasoned entrepreneurs alike.
A 10% entrepreneur is 33% less likely to fail compared to those who are all in. A stable job has an added advantage of cushioning failures as an entrepreneur. According to Patrick McGinnis, becoming a 10% entrepreneur depends on three factors:
Network: Networking is the glue that holds it all together. A network involves all people the entrepreneur knows who might be potential partners or clients in the enterprise. A network eases the search for capable employees and helps to break into new markets. This same network provides you with entrepreneurship opportunities to invest in.
The Georgetown Entrepreneurship Alliance exists to connect hoyas who are interested or engaged in entrepreneurship with ideas, business opportunities, and (most importantly) other like-minded hoyas in order to promote and celebrate Georgetown's unique entrepreneurial footprint.
Start something new, develop your career and diversify your skills - without giving up your day jobYou want to launch a business, try something new and make yourself more employable, but you don't want to lose the security of your job. You no longer have to choose. Instead, become a 10% entrepreneur. In The 10% Entrepreneur, Patrick J. McGinnis shows you how to integrate entrepreneurship into your life by investing 10% of your time and, if possible, 10% of your capital into side projects. You will generate more income, discover new opportunities, sharpen your skills - and get the life you've always wanted.
In 2017 34% of the workforce was considered part of the gig economy. This growing workforce of freelancers and side-giggers is also estimated to grow to 43% by 2020. That's 4 million freelancers, soon to be 7 million by 2020. Whether it's people looking to earn extra money, those tired of their 9-to-5, to entrepreneurs looking to grow their... Read more 2ff7e9595c
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