How Much $$$ Would It Take You to Stop Being an Entrepreneur?

Wednesday, May 30, 2007 at 04:34pm by David Askaripour in Life

Hey, what’s in your suitcase?

There is a 10 million dollars cash in this suitcase.

What’s it for?

It’s for you! If you give me your company and sign a contract to never start another company, never push forward with another idea, and to basically be complacent and give up business altogether… I’ll give you this cash. What do you say?

Image that this really happened. Imagine that someone was willing to offer you millions and all you had to do was stop being an entrepreneur — forever. Would you do it? Would you be able to turn your back on all of your dreams — present and future? Would you be content knowing that never again will you be able to start a business or even be involved in one? How much money would it take for you to do this?

If what you are doing right now is all about making the big bucks, then sure, you’re probably going to take the cash and say good night to entrepreneurship. Buh bye! Just like that. ::cough:: sell out ::cough::

But if what you are doing is more than just making the dollars, more than just the material items, and more than fame and prestige… then you have just separated yourself from the pack. Your vision, mission, and aims transcend mere dollars and entrepreneurship is something that you’d never — ever, ever, ever — give up on. Regardless of how much money was thrown in your face. You love in too much. Entrepreneurship is your life — your baby.

I don’t think that it’s hard to make money — as silly as that may sound to some people. If you have a plan, have at least some brains, and are motivated to make it, then you can easily become a millionaire if you’re willing to keep at it. Sure, I’m not a millionaire so what do I know? But, I know plenty of young “business” dudes who are on their way to banking a million and guess what…what they are doing isn’t going to have a positive impact on this world. Never will. Their business has one purpose: to be used as a vehicle to make more money for themselves.

Their “end” is money and their business is a means to that end. True entrepreneurs have no end. They would rather die than throw in the towel for life and accept 10 mil’. Because it isn’t all about money. It’s about the larger picture: having an impact, affecting lives, and leaving your mark on society.

Would you accept the cash:

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16 Comments

lawrence

May 30th, 2007 at 4:50 pm

lol, really interesting question to ponder

that’s hella lot of money.
one could stop working and live in a mansion, and drive ferrari’s and porsche’s all day across the country to their new home in each state.

But(Big BUT), as an entrepreneur…i can imagine you’d be bored out of your wits quickly! if you cannot start or engage in another business endeavor

what would i do? (i’m an entrepreneur, by the way): i would, take the money. put half, 5 mil, in my bank account…and bring the other half, 5 mil…to vegas to gamble it all on a single hand in blackjack

Aaron

May 30th, 2007 at 5:32 pm

First I think that it’s unrealistic question because that the never start another company part would never happen and couldn’t hold you to it anyway.

To make the question realistic it should be you can’t start a business in the same industry for 7 years.

Anyway, lame question, but my answer is I’d take the money if I weren’t already making that much with my own company. I could find a lot of things to keep me busy if I had 5 million to work with.

lawrence

May 30th, 2007 at 5:49 pm

i don’t think it’s so much of being, as david puts it, a ::cough:: sell out ::cough::

if the numbers seems right, along with other variables - all making sense…it can be a logical step - even the smartest step, one can make

with any business, small or large, successful or not, let’s face it…we get headaches, and we constantly must worry/consider about many variables all the time.

if someone offered you a nice chunk of change to handover your, ‘empire’, you built…hey, i ain’t mad atcha for ’selling’ out. more power to you

it’s business, baby. lol
jus bizness

David Askaripour

May 30th, 2007 at 6:56 pm

I have no problems with selling companies — that can be the best move sometimes, actually. My hypothetical questions was not only to sell the company, but to cease being an entrepreneur forever… in the respect of never starting another company…and in return you get the millions.

nate

May 30th, 2007 at 7:10 pm

Yea, the question as it stands.. I don’t think I could do it. I have an itch to start companies.

But, if I was restricted for 7 years in the same industry, I would definitely take the $10M and use it to fund another company in a different industry.

Eric

May 30th, 2007 at 7:42 pm

If you think about this strictly in the context of trading a passion for cash, the answer is clearly to pursue your passion and leave the money on the table…but think about it like a human being and it takes on a new shape…

If you pass on the $10 million, you’re passing on the ability to be financially free. To own a wonderful home. To take care of the ones you love and give them the freedom to live a beautiful life as well, free of the insane burden of “not having”. You can take up any hobby you want and become a master at it. You can travel anywhere, experiencing the rich cultures of the world. I suppose you could do what you’re passionate about for free or for charity instead of making it a business (since you’ve got money in the bank). You can make smart investments in real estate with $10 million and make it last forever.

Now when you talk about all of that (and I’ve just touched the surface) - screw it, take the money and live a life of worldly adventure and love. Our time on earth is incredibly brief, you don’t want to spend it cramped up on Wall Street.

Nothing would fulfill me more than being able to take care of those closest to me. Who can disagree with that?

Eric

May 30th, 2007 at 7:44 pm

BTW Lawrence - the black jack plan is by far the worst financial idea I’ve ever heard in my entire life.

lawrence

May 30th, 2007 at 8:28 pm

eric

lol, i’m a ‘by far’ in someone’s book…i think that’s something to smile about

the saving of the half, 5 mil - is the safety cushion contingency plan, lol - if the blackjack deal falls apart

Alex Petraglia

May 30th, 2007 at 9:04 pm

Depends how iron-clad the contract is.

david

May 31st, 2007 at 2:07 pm

Venture starts up mainly serve the needs of the founder . “to be used as a vehicle to make more money for themselves.”

Besides to me, making cash is basically a game. The business will never make a positive impact if it doesn’t survive.

Honestly though, if you are a great entrepreneur with a track record , you can easily make that 10 million in 5 to 10 years. so , why give up the rest of your life:)

Adam Gilbert

May 31st, 2007 at 2:24 pm

Everyone has different agendas. If your goal and purpose in life is to solely make money no matter what is at stake then it would be a no brainer.

However, if you want to change the world and live for the thrill and the adventure and the ups and downs and the ACHIEVEMENT aspect then all the money in the world wouldn’t mean anything.

I think truly great entrepreneurs seek out the challenge and live for the ACHIEVEMENT aspect of realizing their vision and changing the world. Money is their scorecard.

Want the key to happiness?

Achievement.

The last 3 months of my life have been the most rewarding and happy 3 months of my entire life because my old business (although very successful) was in college and I didn’t have pressure. I did it for fun.

This was about going after something I love doing and trying to make money at it.

That is UNBEATBALE. And I’m doing it.

A similar question would be would you take a $100 million dollar company if someone handed it to you?

Darren Herman - Marketing, Advertising, Media and Technology Blog » Blog Archive » Digital Tidbits (news & notes)

June 1st, 2007 at 10:55 am

[…] Mindpetals.com, David wrote a thought intriguing blog posting asking the question, “How much money would it take for you to stop being an […]

Jon Speer

June 1st, 2007 at 11:31 pm

$10M takes care of me and my family for the rest of my and maybe my kids lives. As a father of two young kids, having the option to get $10M as long as I stop being an entrepreneur would be very enticing.
I voted as “maybe” but now I think definitely that I would take the cash. I could spend more time with my kids, volunteer, travel.
Good question!

David Askaripour

June 2nd, 2007 at 10:17 am

Adam: “I think truly great entrepreneurs seek out the challenge and live for the ACHIEVEMENT aspect of realizing their vision and changing the world. Money is their scorecard.” Well said. I totally agree with you bro.

Jon: Yeah, we all live in different situations in life so for many, the money will make sense. Especially if it’ll set your kids up for life. I feel you.

Luc Arnold

June 3rd, 2007 at 3:03 pm

Great question David,

For those guys and girls in business for the “quick buck” they may achieve it but in my opinion if you don’t contribute back to society than the only purpose that your business serves is to make yourself and a few others money while stealing in essence from society.

I’ve come to learn that you can always have more money, a bigger house, a fancier car and all the things that lifestyle provides. A business is a team effort that allows you to focus on what you do best and bringing in people that can do their best so the though of selling a business and cashing out is really one-sided and something that i would personally weigh heavily before committing to.