Warren Buffet once said (paraphrased by me), 'if I had any advice to someone who wanted to get a job and make money, just go into the highest growth active industry and take it from there.' What he meant by that is, a lot of time we take a job in whatever comes across our path, but say, if you just pick a really high growth, high end industry like recruitment for the oil industry or something to that end, you wouldn't be working any harder, but you'd be making so much money- just because the average of that industry is set so high... (if you don't know who Warren Buffet is, google him, it's worth to read up on him - I think he is like the 4th richest man still globally).
ANY CHOICE I WANT
I've had the fortune to pick which industry I wanted to settle into after being a management consultant. I've had a lot of exposure before I went corporate executive mode, from high fashion licensing to fighter jet radar systems to concentrated solar power cell set-ups. I still consult on a wide variety of industries related to main one, from a sea port, airport, data centers and construction, obviously I have a lot of exposure, lots of choices, but my main industry, well it's getting really really tough now.
I could say, I'm one of the top in my industry globally, no shit. Of course I think I'm number 1, but I guess the industry could reasonably peg me in the top 5. But I've been at the same project now the last 5 years and the industry itself has faced massive consolidation (meaning that nearly all the smaller players have been wiped out or absorbed) and it is no longer a growth industry. This means, then when we compete, it's really really a blood bath and I'm where I'm at, yes, there is a chance things will work out, but the opportunities are very slim and while I say I'm one of the best out there as an individual, as a company, I'm really a non-entity- other than I have massive backers and the reputation, but in terms of market share, we just relaunched back into the market 6 months ago, and it hasn't been pretty- some progress, but it's a far cry from where we need to be, like light years away.
I'm not daunted, I'm not scared, I am ballsy enough to think I can do it, but the question turns up, do I know better to keep at this as my top priority? I mean I spend all my time on this, and I've gotten to a point where I can breath to look at other projects, new projects in growth industries where my basic knowledge can make a major impact there where it takes everything that I know to simply survive in my current industry. And it's not a matter that the grass is greener on the other side, if you know business, it's clear like night and day, it's just that for most people they don't have the option to switch industries at will, but I do and so far, even people in the industry are telling me, switch.
EASY CASH IS GOOD, OBV.
The first temptation of it all is the effort, then the cash. In a high growth industry where everyone is running around like a headless chicken and still making cash, the amount of effort is minimal, and the cash is great- no brainer right? Yes/no, I mean you still need to understand and get in early, and the understanding comes from being open enough to spot the potential apart from being an early adopter consumer/hobbiest. That commercially you think this industry will actually keep growing and take off into the mainstream and also is big enough that it won't just fizzle out.
Normally, I keep ear to the ground, if I hear the same thing from 3 different people from 3 different groups, I then pay attention. I'm not such a guy to jump into everything new, actually I'm pretty conservative, but I'm also pretty pragmatic, I'm not against something just cause it is new or it's a change. Also I maintain a high level of childishness and immaturity, so I'm not above watching adventure time with my kids and really enjoying it. lol.
TOO HARD AND TOO STUPID TO KNOW BETTER
But anyway- but why do people stay put? Well it's comfortable, it's what they know, but for me, honestly, I can't walk away because I haven't done what I set out to do, but I'm hearing it from multiple sources, that it's too late for me to do what I wanted to do, the strategy, it's outdated, it's too hard, and opportunity cost wise, maybe I have a 1% chance to succeed or else I could start to engage hardcore into these new growth areas and chances are 50% plus to hit it big.
I AM A PRIDEFUL FUCK
I think at the end of the day, if I wanted to just make money, I wouldn't have gone this path of the entrepreneur, I've come to see most entrepreneurs didn't have a choice to be an entrepreneur, either they were wired differently or they had no options so had to be an entrepreneur, but not me, for me, I wanted to show that I am the best of the best - so frankly, it has always been about pride. And we all know- pride fucks with you the most.
At the end of it all- I actually don't have much more time to make this work, maybe a 18 month window, and even if I want to continue I don't think I'll have the support to, and maybe I'll have missed the boat on other things, but still, I don't think I would regret to keep at it as I am. For me to succeed now, that is the mark of true greatness, when it is really is near impossible to make it work - but to be the single person that does make it work, well I like that idea, that one man can still by force of will be a force of nature.
It clear that it is the stupid or prideful course of action, I acknowledge that.
But it's what I want. To be that force of nature. To be great. Even if it is only for my own self satisfaction. I could respect that in others -and respect myself.