The American Dream has many components, but to me, the big three are liberty, business ownership, and home ownership. The order is intentional.
- Liberty is prime because it makes the other two possible. Freedom is from God, but liberty is a contract we give to each other.
- Business ownership in America has produced more self-determination than any other force in history, including from all of the associated jobs.
- Homeownership is available to all Americans who’ve claimed one of those jobs.
As much as the latter two are part of our liberty, business ownership is the most challenging. Blasingame’s 1st Law of Small Business states: “It’s easy to start a small business, but it’s not easy to operate and grow one.”
That paradox manifests in full measure when the entrepreneurial sap starts rising in the bark of a prospective business owner who decides to start from scratch. It’s a natural process to envision your new business and then set about creating it out of whole cloth. But that natural urge must be tempered with this rude truth: Someone else has probably already created something that looks a whole lot like what you’re thinking about creating. Consider these points before you become a startup. [Continue Reading]