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Ok what is the adjusted risk of opening a business? Adjusted for competence that is.
It's more or less a truism that most businesses fail (to break even, forget survive). But most people would probably fail at getting STEM degree as well.
What is the risk for someone like me with a relatively high IQ, high conscientiousness, lack of emotion or lack of any retarded world models, fairly trustable person like me?
I've been thinking this because having met some unsuccessful entrepreneurs, I wouldn't trust them to manage a microwave, if that is my competition, then I might actually not be as doomed to the wage slave life as I think.
The successful ones I met are a better group on average, but not the entire group!
Of course ik ik it depends on a thousand factors, but let's just focus on this now. The average business owner is.... Average!
I was a single digit employee number at my current gig, now very successful by any stretch of the imagination.
Competence is critical. Like you, most failed entrepreneurs I've met are idiots. I've also seen some semi-successful ones that aren't super hard-working but compensate with some light grift and charisma.
I think if you have:
You can be successful. Securing funding and taking advantage of luck are the keys, IMO.
Are you considering any business plan?
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