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Want to Be an Entrepreneur? Stop Reading and Start Doing

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Want to Be an Entrepreneur? Stop Reading and Start Doing

The most common question I get from people interested in startups and entrepreneurship, is this:

I have an idea for a startup… what do I do now?

and while this post isn’t meant to provide a full answer to that question, it is meant to tell you something you should not do that may seem like a good idea.

The number one thing you shouldn’t do once you have an idea for a start-up is nothing. You’ll meet tons of people like this in life, who go around saying “Oh I have this great idea for a company, I just haven’t started on it yet.” They’re what you’d call “wantrepreneurs” who are also likely afraid to tell you what their idea is “because you might steal it” (tell everyone your idea, no one has enough time/energy to steal it and no one cares about it as much as you do).

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The second worst thing you can do once you have an idea is only slightly better than doing nothing, and I call it getting stuck in the “Start-up Nonfiction Vortex.”

Getting trapped in it is easy. We’ve been brought up in a system (institutional education) that values collecting as much information as possible before applying it. That’s why you take four years of college covering a huge number of areas before entering the workforce, instead of entering and figuring it out as you go.

Since we’ve been raised to believe we need to collect tons of information before getting started, we become paralyzed in the face of starting a company, which leads to the belief that we need to do one of two things:

  1. Get a four-year degree in business/entrepreneurship
  2. Read a ton of books

Since spending four years “preparing” seems a lot more daunting than reading some books, it’s natural to choose the later. But in reality they’re both mistakes–the real solution is:

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3. Get started

But more on that later.

The Start-Up Nonfiction Vortex

There are a ton of books out there about starting a business. A huge publishing/authoring business has been built around “wantrepreneurs” reading everything they can get their hands on instead of starting their business. And I have to admit I was one of them. I decided I wanted to start a company last May, and between May and September, I read 39 books all related to entrepreneurship and start-ups.

It might start by going to Amazon and searching for “start a business” or “be an entrepreneur.” Every book you read will lead to new insights into things you never knew before, and the reaction after each will be “whoa, I never knew about this, I better keep reading to make sure there’s nothing else I don’t know.” To quote a friend of mine, when you’re an entrepreneur it’s “like ignorance squared, because you don’t know what you don’t know” so the safest route feels like learning everything.

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It’s a trap though. Without specific things to apply the knowledge to, it will largely be forgotten. We tend to remember random information very poorly when we haven’t applied it or used it in our daily lives, and if you’re reading books while waiting to start your business you’re likely not doing anything with it. This creates two problems:

  1. If you’re taking notes, you don’t actually know what you should be taking notes on
  2. You’re going to have to read it again later when it’s actually relevant

 

Escaping the Vortex

The first startup/entrepreneurial endeavor you try will probably fail. And don’t worry, that’s good news. It means you have nothing to fear, nothing to be ashamed of, and no reason not to start. If you’re an at least decently achieving student or worker then you’re probably unaccustomed to the idea of failure being okay, but in the start-up world it is because even when you fail, you still learned a lot.

That’s why you don’t need the non-fiction vortex. If you simply pick an idea, get some friends, and get started you’ll learn ten times as much in 1/10 the time you would have reading. Since we started our company three months ago, I’ve learned magnitudes more than I did in reading all of those books, and even for the books that did turn out to be useful, I didn’t realize at the time which parts were actually valuable and have had to go back and re-read them.

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Does that mean you shouldn’t read at all? No, of course you should, but I think you could get away with just reading “The Startup Owner’s Manual.” Read it once for a high-level view on what you should think about, then go back and read through it as you apply it to your business. Draw on other books as you run into problems that you need solutions for.

But most importantly–get started. So many people miss out on great opportunities because they’re afraid to take that risk. Don’t fall into the trap of delaying it until you’re “ready” or spending all of your time reading to make it as safe as possible. Just stop reading and start doing. You don’t need to look before you leap.

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Nat Eliason

Nat is the founder of the marketing agency Growth Machine. He shares lifetyle tips on Lifehack.

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Last Updated on January 13, 2022

15 Best Places for Expats to Live (And Why)

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15 Best Places for Expats to Live (And Why)

Many of us dream of living abroad but can often be scared to make such a big change to our routine lifestyles and leave our home countries behind. Daunting as it may be, living abroad can be a rewarding and fulfilling endeavor and can give you the quality of life you have been looking for.

From a warmer climate to a more easy going way of life, there are many foreign countries favored by expats who stay for a long time – and sometimes forever. Taking into consideration livings standards, opportunities and social aspects, here are our top 15 best places to live as an expat and why.

1. Thailand

A hot spot for expats, the ‘land of smiles’ as it’s commonly known offers expats a tropical climate, a huge array of sandy beaches and islands to explore, and a rich culture. The cost of living in Thailand is extremely low, and when combined with the friendly tax system means that disposable income can be very high.

Bangkok, Thailand’s capital city, offers expats great employment opportunities.

2. Switzerland

Another popular destination for expats, Switzerland offers exciting employment packages and a high standard of living. It’s great for those who love the outdoors, as there are many beautiful lakes, mountains to hike in and skiing in the winter. The school standards for expats are also excellent, making it appealing for those with children. English is also widely spoken so day-to-day living can be stress free.

Unemployment in Switzerland is low and expats moving here don’t need to worry too much about finding a job before they arrive.

3. Australia

Many foreigners who visit Australia don’t want to leave as it offers a great quality of life, beautiful beaches and a warm climate. Making friends in Australia is easy too, due to the lack of language barrier and the large number of expats who already live here. Australia is a great place to move to if you have children because of its wide range of schooling possibilities and recreational outdoor activities.

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Low population levels and high quality of life are two of the main reasons expats choose Australia as a place to live.

4. Singapore

Expats in Singapore can benefit from generous financial packages, great career opportunities and low tax rates. Although education is expensive here, it is rated one of the top places for raising children abroad due to the quality of the education system and the array of schools.

Public transport such as buses and MRT (Mass Rapid Transit) are cheap and very reliable in Singapore.

5. South Korea

South Korea offers expats a unique range of opportunities and a very different way of living. Jobs for expats are easy to find and usually very well paid, with apartments provided by the employer on the most part making living costs even lower. There are also many tight-knit expat communities in South Korea, making it easy to socialize and meet new friends. The excellent education system is also a pro for families wanting to move to this culture-rich country.

South Korea has a cheap public healthcare system and offers great medical care, with most doctors speaking English.

6. New Zealand

New Zealand is constantly on the lookout for skilled workers to expedite to the country – especially those under the age of 30 – and skilled migrants can be granted a stay for up to five years. It offers a good climate and although income levels can be lower than other countries, quality of life is high, with its awe-inspiring scenery, low crime rate and state sponsored healthcare.

New Zealand is great for those looking for a laid back and active outdoors lifestyle.

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7. Canada

Its national healthcare system, friendly locals and very high quality of life are just a few of the reason expats choose Canada as a place to live. It’s very welcoming to expats and skills shortages encourage foreigners to move here in order for the country to grow economically. It’s easy for expats to feel comfortable quickly in Canada due to its multicultural environment.

Canada was largely unaffected by the economic crisis, making it a very popular country for expats.

8. Qatar

Qatar is becoming increasingly popular among expats with an estimated 500 new arrivals every day. The salaries are generous and are tax free too, making disposable income very high. Car and housing allowances are part of many remuneration packages, and education for your children and airfares are often included.

The cost of living is lower in Qatar than in other UAE countries but salaries can still be just as generous.

9. Hong Kong

Where east truly meets the west, this bustling island has a population of over seven million people. If you’re looking for a fast-paced environment and an active nightlife, Hong Kong is definitely the place to be. Benefits for expats include its advanced healthcare system and elevated standards of schooling for children, along with great employment opportunities. The cost of living in Hong Kong can be high, so trying to negotiate a housing allowance with your employer can be beneficial.

Hong Kong is great for those looking for high incomes and career advancement.

10. Japan

As an expat destination, Japan offers a rich culture and a chance to experience a very different day-to-day life. Currently around two million expats live in Japan, and in the larger cities such as Tokyo a large portion of the population speaks English. English speakers are also in demand and there are a large number of opportunities for language teachers, especially in the capital.

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Japan offers a high standard of living for expats and a good education system for those with children.

11. Spain

Spain is a very popular destination for expats due to the high temperatures and year-round sunshine. EU residents don’t require a visa to work here, meaning the move can be a lot easier. Skilled foreign workers also continue to be in demand with jobs such as engineering, customer service, skilled trades and language teachers widely available.

A huge 14% of Spain’s population are expats from a variety of foreign countries.

12. Dubai

Two of the main attractions of moving to Dubai are the tax-free salaries and the warm climate. Some of the most popular jobs for expats are in construction, banking, oil and tourism. You can also enjoy a busy social life in Dubai as the expat community is thriving. Although it can be an expensive country, the tax-free salary means you experience a higher quality of life than in other countries.

You will need a work permit, residence visa and an Emirates ID card to live in Dubai as an expat.

13. Germany

Germany is one of Europe’s most populous countries, with around 82.4 million people. It’s a lively and inexpensive country to live in as an expat, and if you have children the education system is great and healthcare is to a high standard. An estimated 250,000 expats live in Germany currently, with the numbers rising every year.

If you are already an EU citizen, you don’t need a visa to live and work in Germany.

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14. The Netherlands

The Netherlands is a great place for expats who love the outdoors. Cycling is one of the main modes of transport and looking after the environment is widely recognized. There are a lot of English speakers in the Netherlands too, but learning the language can work to your advantage and make day-to-day life that little bit easier. Skilled expats can also benefit from a tax-free allowance equivalent to 30% if they meet the correct criteria.

It is often more important to be able to speak fluent English than to speak Dutch when looking for employment in the Netherlands.

15. China

China offers expats great employment opportunities with little competition. Those who embrace the culture and decide they want to live in China long term can see a host of employment opportunities as its economy is growing rapidly every year. Economists predict it will overtake the US as the world’s largest economy by 2018. China also offer expats low living costs and high disposable incomes, which is why many look to live here for a higher quality of life.

Shanghai and Beijing are the most popular destinations for expats who live in China.

Featured photo credit: Saulo Mohana via unsplash.com

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