Comments on: Contingency plan for your business not your career http://www.fiftybyfifty.com/lifeoffarhan/2009/12/04/contingency_plans/ chapter four - my 30s Thu, 17 Nov 2011 10:56:00 +0000 hourly 1 http://wordpress.org/?v=3.1 By: farhanlalji http://www.fiftybyfifty.com/lifeoffarhan/2009/12/04/contingency_plans/comment-page-1/#comment-528 farhanlalji Wed, 16 Dec 2009 14:37:11 +0000 http://www.fiftybyfifty.com/lifeoffarhan/?p=301#comment-528 Thanks for the comment Conor, totally agree that business should try to generate passive incomes as soon as possible - but don't think this is a contingency, this seems like a basic hustle plan.<br><br>Agree with the serial entrepreneur career path as well, you look at people like Tony from Zappos, Loic at Seesmic, Ev at Twitter, etc these are guys on their 2nd, 3rd, 4th companies all have learned from previous experiences to build new businesses. Thanks for the comment Conor, totally agree that business should try to generate passive incomes as soon as possible – but don't think this is a contingency, this seems like a basic hustle plan.

Agree with the serial entrepreneur career path as well, you look at people like Tony from Zappos, Loic at Seesmic, Ev at Twitter, etc these are guys on their 2nd, 3rd, 4th companies all have learned from previous experiences to build new businesses.

]]> By: Conor http://www.fiftybyfifty.com/lifeoffarhan/2009/12/04/contingency_plans/comment-page-1/#comment-526 Conor Wed, 16 Dec 2009 04:41:15 +0000 http://www.fiftybyfifty.com/lifeoffarhan/?p=301#comment-526 Great post. I think there is an entrepreneur contingency plan that is neither career nor business... ensuring that the entrepreneur takes all possible opportunities to generate passive income. If you need an office - can you buy the office in your name and lease it to the company? A warehouse? same. If the business works - you have a working business and 2 good assets. If the business faces challenges, you can generate passive income from the assets and be in a better financial position as you begin your next entrepreneurial adventure. <br><br>I think there is a serial entrepreneur career path - this goes from viewing life as a series of decades and building reputation, capital, network, experience so that each decade you can build a business that has ten times the impact as that of your previous decade. Great post. I think there is an entrepreneur contingency plan that is neither career nor business… ensuring that the entrepreneur takes all possible opportunities to generate passive income. If you need an office – can you buy the office in your name and lease it to the company? A warehouse? same. If the business works – you have a working business and 2 good assets. If the business faces challenges, you can generate passive income from the assets and be in a better financial position as you begin your next entrepreneurial adventure.

I think there is a serial entrepreneur career path – this goes from viewing life as a series of decades and building reputation, capital, network, experience so that each decade you can build a business that has ten times the impact as that of your previous decade.

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