3 Entrepreneur Lessons from the Dominican Republic
May 9, 2023 Newsletter.
I’m officially over 2 years removed from corporate life. So much has happened since then. If you’re following my story, I quit, have leaned into the role of podcast host, real estate investor and community leader. Last August, my family moved to the Dominican Republic for at least a year.
We are SUPPOSED to return to the US in August .. flights are booked .. but the wife is trying to extend .. stay tuned!! 😀
Being an entrepreneur is hard! It’s also very fulfilling. Since being out on my own, it’s crazy how many entrepreneurial lessons I see unfolding around me!
In this week’s edition, I wanted to share some key takeaways that I hope help you as you think about making the leap from employed to entrepreneur!
#1: Entrepreneurship is survival!
When we get to a red light, young men walk in traffic selling flowers, windshield wipers, iphone chargers or offering to clean windshields. They have found a service people want and are profiting from it - admittedly not much! But it’s how they survive - by embodying an entrepreneurial spirit. In my neighborhood, the houses range from $600k-$2m+ in value. The locals that live here are not employees for companies - they have businesses in transportation, tourism, retail, restaurants, etc. You don’t thrive here as an employee .. period.
#2: Limited Resources, Endless Resourcefulness
My Gobundance pod visited and we went to a beach restaurant locally. They were building a covered dance floor for a wedding. To say that OSHA or a labor union would be freaking out at what these workers were doing is an understatement. Imagine putting a 30 foot beam together and then lifting it while one guy in the crew holds on so when it’s upright, he’s clung to the top - so that he can then reach out to attach his pillar to a cross beam .. no net, no rope, no scaffolding. I’m not celebrating the lack of safety standards, but the point is the job had to get done. They don’t have the resources here to regulate labor, to create safety in the construction, etc. But by any means necessary, they get it done! Imagine if we had the resourcefulness in the US to match our abundant resources. Whoever reading this decides to become incredibly resourceful … you’ll win!
#3: Depression Doesn’t Exist
I’ll start with this - depression is real. I’ve suffered from it as have others I know and love. But there’s some truth to this and I’ll tell you why. In the US, our basic needs are met by and large. If you’re reading this, you are well beyond worrying about shelter, food, safety, clothing and so on. Where we start to become depressed is when we lack love and esteem. But imagine if you ARE still worried about basic needs like many are here. There’s no time for depression. If you read the definition of ‘entrepreneur’ it says ‘a person who sets up a business taking on financial risk in the hope of profit’. If you’re an entrepreneur, you may find yourself worried about physiological needs at some point. If you’re an entrepreneur and feel that anxiety and depression, congrats - you’re on the way to self-actualization!