057: Tim Meuchel on the Entrepreneurship Cycle

The Entrepreneurship Cycle is reality. This is what life is like as an entrepreneur.

Some days you are going to want to quit. Some months you are going to struggle to pay the bills. The phone is not always going to ring like it’s supposed to.

Every Seven Years

Life happens. Business happens. And every seven or so years you are going to go through a major financial adversity. Everybody that I talk to; it hits in some capacity and it’s always at the worst time.

And every seven years. Guess what? You are also going to go through a personal adversity. Maybe it’s a sickness. Maybe it’s a death. It could be something you didn’t know about your family that was uncovered. Maybe it’s just the part of life, the  chapter that you are living at this moment in time.

You know, when the finances and the personal adversities; when they start going 100 mph. You know what? It’s not easy. It’s not easy in the good times so when the bad times come?

What It’s Really Like

I’m just telling you this is what it’s like, so? There are things you can do to prepare yourself and to prepare your business for it. Not the if, the when, but it still doesn’t make it easy. Now, some seven year cycles might be a little better and some might be a little worse. So, the question that I have to ask you and I have to ask myself is?”

TUNE IN to the 10 Factor, Episode 57 where Tim Meuchel goes deep on the Entrepreneurship Cycle.

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Tim Meuchel
 

Tim Meuchel is the bestselling author and podcast host of The 10 Factor: From Struggling to Thriving Business in 10 Months. Like many successful entrepreneurs, Tim failed his way to success. He gave up $334,200 in 2008 after resigning from a twelve-year corporate management career to pursue his side business full-time. The business quickly grew 8X and within four months Tim's wife quit her job as well. Several years later a bad business deal left Tim's company almost bankrupt. Tapping into emergency funds, he fought back and restructured the business; resulting in a new profit producing model requiring less than 40% effort. Seeing an opportunity to give back and help other struggling entrepreneurs Tim reverse engineered his process, validated it with top entrepreneurs, and created a ten-month roadmap - The 10 Factor.