Becoming an entrepreneur: Day 2

May 04, 2017

(for TL;DR scroll to the bottom)

If someone asked me what book has influenced my life the most, my answer would (most likely) have to be Atlas Shrugged.

The book itself wasn’t really all that special. It was unnecessarily long. The writing wasn’t incredible. But somehow, despite its flaws, it planted a seed within me.

For the past 20 years of my life, I had associated business with corruption and greed. After finishing Atlas Shrugged, however, I emerged with a different opinion.

Perhaps business could be ‘good’ for society, I though. Perhaps business was the ‘engine’ of society, creating jobs and stimulating the economy.

And so here I am, on day 2 of my “365 days of entrepreneurship” thingy.

Yesterday I started reading about business structures. Before I even start selling a product, I want to have everything legalized and ready to go.

I learned that there are a couple of different business structures, but the ones that are most relevant to me are the sole properietorship, LLC (Limited Liability Company), and the S-corp.

For my business idea, which I will discuss shortly, I am leaning most towards an LLC. I don’t like the liability issue that comes with having a sole proprietorship, where I myself am personally liable for debts.

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There’s a lot of information out there on starting a business. Too much information.

Yesterday I mentioned that I began creating a website, but realized that it was too early for that — I needed a business plan first.

So today I researched business plans, but got about 1 million different recommendation and suggestions for what to include in a business plan.

But then I came to the conclusion that it’s still too early for a concrete business plan. I must first decide which idea I will pursue.

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I’m going to write some random points now which will hopefully coalesce a bit later on.

Steve Jobs said that he enjoyed building companies that lie at the intersection of technology and the humanities.

I feel the same way.

Yesterday I watched Elon Musk’s (new?) TedTalk event where he spoke about Tesla, Space-X, and the Boring Company.

I see the world differently than Elon. I don’t think that technology is going to solve all of our problems. Perhaps one day, but not for a long time.

I believe that there is a fundamental, deeply-rooted disparity in our society.

This is the reason why ‘impoverished’ children spend their time glued to social media and use technology mainly for entertainment, while the rest use it more so for ‘education’ and self-improvement.

My point is this: no matter how advanced technology becomes, it will always favor those who are in a ‘privileged’ position .

Thus, according to the view above, technology simply widens the gap in our society.

I’m not a luddite. I love technology and know that it can be a beautiful thing.

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Now that that has been said, I will present my business idea:

what is it?

  • Teaching meditation or/and yoga

To whom and where?

  • Teaching at businesses (perhaps creating ‘courses’ that businesses pay for)
  • Creating meditation/yoga retreats (2 days, 1 week, etc.)
  • Opening up meditation rooms where people can stop by and meditate whenever they want
  • Teaching private classes

It’s obviously nothing earth-shattering. A lot of people are doing it already.

In my life, meditation has helped me overcome my anxiety. It has also helped me create more joy and peace in my life, which in turn has made me a more compassionate and productive human being.

Sci-Fi movies show the future as consisting of gargantuan skyscrapers, flying cars, and interplanetary travel.

But for me, the most exciting part about the future — the one I would most like to impact — is the social and spiritual part (by spiritual, I don’t mean anything otherwordly — I mean self-actualization; eudaimonia; enlightenment; flow with all of life, etc).

In other words, I would like to create a future where every individual has the capacity to become self-actualized.

One where every individual has the ability to become his greatest self. One where we live lives of open-mindedness, peace, truth.

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Seeing how meditation has impacted my life, I would like to lead it into the mainstream. I would like there to be a meditation room on every block.

I would like retreats to become a standard thing.

I would like companies to teach meditation to their employees and reap the benefits of calmer and happier employees.

But I don’t know how to do this yet.

I would like to perhaps open up a meditation room, but I don’t have the funds.

And even if someone offered to invest in me right now, I probably wouldn’t take it. I feel that I need more experience with business.

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The way I see it, perhaps I can start by teaching classes. Of course, problems automatically arise.

How will I teach classes and work full-time?

Perhaps I can find some partners. But where do I find business partners?

TL;DR: I want to create a company that attacks pertinent social problems (and hopefully utilizes technology to do this). I’m thinking of starting a private meditation lesson company to address mental anxiety. I don’t know how to do this so I’m going to continue to learn and ask for help.

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Next steps:

  • Continue to read up on business structures so that I can be educated during my attorney interview
  • Reach out to my friend whose an entrepreneur and ask him for some advice on the first steps
  • Try to find a business/entrepreneur group in the area
  • Do market research on private meditation classes
  • Download ‘headspace’ to get an idea on the intersection of tech/meditation