do entrepreneurs have to be rich?

**bananaman** · 05-29-2009 07:34 PM

The "retire young retire rich" book thread below brings up an intereting question.

Do entrepreneurs have to be rich?

I think the expectation to "retire young retire rich" is wrong, and will let many people down.

I think real entrepreneurialship is firstly about finding new ways to make money first, and maybe become rich in the process.

Myself, I make over $1000 with Google Adsense a year, and I will soon start selling books for 20-30% profit, which will make about $1500 a year.

I won't be rich, but I have 2 streams of income which I can expect to grow once the recession is over. And I am already trying to find new streams of income.

I once expected entrepreneurialship to make me rich, but now I find that coming up with new streams of income is so creative and satisfying in itself, and this is my primary motivation. Of course, I won't work for peanuts, so I won't try anything that earns less than 20-30% profit.

What are you thoughts?

**bestill** · 05-29-2009 07:49 PM

A good entrepreneur will be rich.

**financeblogger123** · 05-29-2009 09:38 PM

A good entrepreneur already knows he's rich regardless of his balance sheet...

**Wayne Liew** · 05-31-2009 11:21 PM

I strongly believe that money comes with solutions for pressing problems. If an entrepreneur aims to add value to the people around him, money will definitely come along the way.

**ellaanderson** · 06-01-2009 07:33 AM

Actually it depends on the type of business. Most online business doesn't require you much money.

**Lukring** · 06-02-2009 05:56 PM

I believe that TRUE good entrepreneur are rich not only with money but with experience, friends and happiness!

**awayoflife** · 06-03-2009 03:53 AM

I don't believe that true entrepreneurs will aim to retire at 21 and no longer work. If someone really wanted to be an entrepreneur they could not just switch off and no longer look for new income streams and new solutions to problems.

Most entrepreneurs will come into wealth though, many "KNOW" they will be rich, no matter how long this takes. Thats my belief

**bananaman** · 06-03-2009 05:10 AM

I am of the opinion that an entrepreneur is someone who can make money where others can't, at a reasonable rate of profit.

This may or may not make them rich, but it's seeing an opportunity and making it a reality that is entrepreneurial.

Personally, I have no expectation of becoming rich, even though I do want to.

Expecting and wanting are two different things.

**Moneymaka** · 06-03-2009 10:34 AM

Originally Posted by Lukring

I believe that TRUE good entrepreneur are rich not only with money but with experience, friends and happiness!

You're supposed to be an entrepreneur, not an over-sensitive woman.

In my opinion, entrepreneurs should be rich.
If this is not the case, then being an entrepreneur isn't much different than being an employee.
Ofcourse there are some differences, but i'm not going into that.

**rogercbryan** · 06-03-2009 11:50 AM

I wanna be an entrepreneur so people will like me and sing kumbi-fucking-la with me... what the hell is friends and happiness...

**Deal_Maker** · 06-03-2009 12:24 PM

Originally Posted by awayoflife

I don't believe that true entrepreneurs will aim to retire at 21 and no longer work. If someone really wanted to be an entrepreneur they could not just switch off and no longer look for new income streams and new solutions to problems.

Most entrepreneurs will come into wealth though, many "KNOW" they will be rich, no matter how long this takes. Thats my belief

If your goal is retiring as soon as possible you're not an entrepreneur, you're lazy.

What do friends have to do with running a company? Absolutely nothing. You're in business to make money, not friends.