175- The struggling entrepreneur and the bucket list

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In this episode of The Struggling Biz podcast show, we discuss the environment that may present itself for a struggling entrepreneur when he may approach the “twilight years” and face retirement completely from the work force and the entrepreneurship environment.

Now, although you may face the possibility of retirement with an aggressive stance and position yourself in the “Alamo” of attacks by the element of time and burnout, there is a strong possibility that you may face elements of reality, in spite of your attitude of “never letting go” from the entrepreneur environment.

And some of these signs may be:

feelings of medical situations that come with older age;
tiredness from the “routine” of getting projects completed or getting them set up;
the feelings of frustration and anger that result from dealing with impossible clients or partners — especially from the younger “whipper-snappers” that keep telling you that they know more than yourself and even make fun of you as the older generation that is outdated;
the desire to expand your experiences and include time in your life to investigate and live your “bucket list”; and
the reflections of accomplishments in your life and their importance vs. looking forward and seeing what is really important when you reach a specific point in your twilight years…
and other factors.

THE ROUTINE and EXCITEMENT

When does the routine of business and entrepreneurship finally become a boring list of obligations that no longer give you a sense of fulfillment and the excitement of accomplishment and success?

When you want to stop what you are doing, cancel the contracts and pursue other things that may be more appealing and desirable for you — this may be the sign that a change must be needed to give you the energy and go in another direction. This was something very similar to the theory of changing your direction in entrepreneurship that was discussed in the early 2000s by author Eric Reis in his book called The Lean Startup — and the action was referred to as pivoting.

But the pivot which I am describing is NOT for changing direction in a small business from one industry to another, but in changing direction from one pursuit or career to possibly another.

SMELLING THE ROSES or PUSHING UP DAISIES

We have all heard of the expression of “stop and smell the roses” because we focus and push so hard that all we can see is the success of being an entrepreneur where we spend all of our time, energy, wealth and life as an entrepreneur without leaving room for the important experiences of life — including health and relationships (which can be the most important factors in our lives, instead of business success).

In addition, if we do not stop to “smell the roses” then we put ourselves into the danger of “pushing up daisies” — which means that our health may suffer and that we end up sick and possibly die at an early age (in fact, we are buried and covered with the daisies that we may end up pushing against).

How many successful entrepreneurs have passed away at an earlier age than what other colleagues did who were similar in age, profession and especially success?

Is it not better to enjoy life and the aftermath of being a successful entrepreneur instead of having others wonder why your life ended when you still were “young” and had a longer time to enjoy your success?

SENSE OF URGENCY and THE BUCKET LIST

For some entrepreneurs, they receive what is referred to as a “wake-up call” when sudden situations make them stop and evaluate their current and future positions.

This may be from a resulting accident or injury that show them how vulnerable we are and how we may be taken from our life into the area of death. Or it could be from a medical condition that develops and does not leave much time left in life after a diagnosis of terminal conditions. Or it could be from an experience that demonstrates the frailty of current life and the importance of relationships and what could truly be happiness.

Then, all of a sudden, the rush to create a “bucket list” of things that need to be experienced occurs, as the entrepreneur wants to do in such a short time all the things that he never made time for. These should add value to his life, but they are scarred with the stress of accomplishing all that is on the list, instead of enjoying and remembering all that was pleasant and of value in life’s pursuit.

For myself, a new approach to life was something that I chose after I came back from combat during the Vietnam War, as I returned mostly alive — but with a thirst for knowledge and learning as well as a pivot in my frame of reference for those things in life that were truly of value (like relationships and success in giving to others).

And many other entrepreneurs suddenly awaken from their delusions of continual business success and then quickly try to experience a lifetime’s worth of actions in just several months or years after they realize that life is, indeed, so short. However, for many, this new “sense of urgency” to complete the bucket list may erode some of the excitement, pleasure and value of the experience.

HOBBY vs RETIREMENT?

Perhaps you may enjoy some of the characteristics of being an entrepreneur– whether it be the “hunt” for clients and creating and then providing solutions, or perhaps the thrill of creating something of value for others (whether for profit or not).

For some, the “hobby” or dabbling into a part-time venture or process may be a rewarding self-actualization that will consume your time, but yet also put a smile on your face as you give your time, or talent, or treasure to others.

This is the position that someone who has successfully experienced entrepreneurship can have and hold sacred. In this way, you never really “leave the game” of business, but you choose which of the factors of business you wish to keep and pursue, as opposed to envelope all the areas of being an entrepreneur, instead of suffering through all the misery and stress that it may entail for you.

For myself, I gave up seeking monetization of my podcasts or developing and selling my own products — so that I can concentrate on the creation and publication of assets and their distribution (for that is what seemed most rewarding to me). And in this way, I do not have to put up with the stresses.

When others ask me in my later years WHY I did not finish law school and become a lawyer, my answer was “I enjoyed the STUDY of law, but I did not like the PRACTICE of law, as it was too stressful and destructive for me.”

TEACHING or HELPING OTHERS TO IMPROVE

In fact, many people in their late careers go into teaching — usually at the college or university level.

Why?

Because it is a very satisfying way to give back to the younger or more curious generations and help them to grow and seek out success for their own.

For myself, I have ALWAYS enjoyed this — whether I lectured to university students in business, or whether I chose the arts in which to immerse myself as a teacher (especially in music and Mexican folklorico dance in colleges, or as podcasting consultant and trainer in the New Media environment). Also, being a leader in Veterans’ Service organizations can allow me to share my expertise and improve conditions for other veterans.

And for many others, the teaching may end up in either writing a book or producing memoirs or creating podcasts with final and personal thoughts, so that others may learn from them.

The decision is yours, and you can decide at a time in your twilight years when it is time to create a book in writing or develop show notes for your podcast episode that will be your memoirs or just plain develop a bucket list and seek to cross each line-item off as you fulfill your experiences.

The choice is yours — retirement or hobby or teaching or pursuit of a satisfying set of experiences.

Thank you for your attention.