By SJS Founder & CEO Scott Savage.
Based on personal experience and sitting in the front row watching hundreds of business dramas play out before my eyes over the last three and a half decades, I feel comfortable commenting on this subject. One way to define the moment when you make the decision to launch a business:
WHEN THE DISCOMFORT OF YOUR CURRENT SITUATION OUTWEIGHS THE DISCOMFORT OF LAUNCHING YOUR NEW BUSINESS.
Acting, despite your fears, is a common denominator of most business startups.
George Addair, a serial entrepreneur in the late 19th century, captured the essence of my point very succinctly:
“Everything you’ve ever wanted is on the other side of fear.”
Quitting my day job and launching SJS on the same day was a regulatory necessity, but not typical of many of the startups I have seen launched. Many, if not most, successful entrepreneurs started their businesses at night and on the weekends while keeping their day jobs, often for years. A famous example is Jeff Bezos, who started Amazon (perhaps you’ve heard of it?) on the side while hanging on to the security of his day job!
THIS IS THE BIG SECRET I HAVE LEARNED ABOUT ENTREPRENEURS: THEY ARE VERY RISK AVERSE.
What? Risk averse? Most people equate business startup with risk. While that may be true, the business founders I’ve advised over the years are risk averse and want as much control over their life and finances as possible.
FEAR, UNCERTAINTY, AND DOUBT, are emotions that virtually all business founders must overcome and learn to live with. Behavioral Science has even given a name to the feeling of inadequacy these leaders feel: the IMPOSTER SYNDROME – the idea that you’ve only succeeded due to luck, and not because of your hard work.[1]
As SJS celebrates 25 years, I am happy to report what many entrepreneurs often say, “I’ve never worked a day in my life!“ The decision I made 28 years ago was inspired by the discomfort I felt due to the conflicts of interest that I perceived were inherent in the brokerage industry. “Sitting on the same side of the table” with my clients with the duty as a fiduciary to always act in their best interest was, and is, my happy place.
My Dad often preached to me to start a business. He said the worst thing you can do is fail. And there’s nothing illegal or immoral about failing.
Heck, you might even succeed!
Important Disclosure Information and Sources:
[1]: “Yes, Impostor Syndrome Is Real. Here’s How to Deal With It.“ Abigail Abrams, 20-Jun-2018, time.com.
Hyperlinks to third-party information are provided as a convenience and we disclaim any responsibility for information, services or products found on websites or other information linked hereto.
Suggested Reading
SJS Investment Services has been recognized in CNBC’s 2024 FA 100 list, an annual ranking of registered investment advisory (RIA) firms within the USA.
SJS Investment Services has been recognized in the Forbes / SHOOK 2024 list of America’s Top RIA (Registered Investor Advisor) Firms.
Every four years, we get the same question (whether you have asked it, or you are thinking it) – how will the election affect my portfolio?
As we approach the end of the year, we want to highlight some important financial items to review before the new year.
This Outlook includes our discussion of election time, financial to-dos before the end of the year, new SJS Perrysburg office, SJS Team updates, and looking forward to Q4 2024.
SJS Investment Services has been recognized in Financial Advisor Magazine’s 2024 Registered Investment Advisor (RIA) Ranking, an annual ranking of independent investment advisory firms within the United States.
As I approach my 40th anniversary as a financial advisor, I can't help but look back on the road I've traveled.
While people commonly hold their cash within checking and savings accounts, we want to highlight three short-term, interest-bearing investments that can be held within your investment account.
This Outlook includes Founder & CEO Scott J. Savage’s gratitude for your 40 years of trust, how you can earn more interest on your cash, welcoming new SJS Team members, and looking forward to Q3 2024.
For five graduating high school Seniors who shadowed us recently, we asked each student to write a summary of what they learned during the week.
One of The Ability Center’s services is the Assistance Dog training program, which helps individuals with disabilities achieve greater independence.
When working with investment managers, we want them to share that same client-first philosophy and sit on the same side of the table with us.
We want to emphasize some best practices that can help us work together to ensure your information and assets remain safe.
The Outlook includes our evolving MarketPlus® Investing philosophy by standing on the shoulders of giants, and ways to help protect your personal information and financial assets. We also highlight The Ability Center and look forward to Q2 2024.
SRDAX is a shining example of the value alternatives can bring to traditional stock and bond strategies.
As we begin the new year, we have some ideas for concrete actions to start your new year on the right foot, financially.
Isn’t this picture magical? It's Main Street in Sylvania, Ohio, the small town where I founded SJS over 28 years ago!
The SJS Q4 2023 Outlook includes our insights on small town values, MarketPlus® Investing, and planning financially for the new year. We also highlight new SJS Team members and look forward to Q1 2024.
To help you financially plan for 2024, we provide this resource with important numbers for the upcoming year.
SJS Investment Services has been recognized in the Forbes / SHOOK 2023 list of America’s Top RIA (Registered Investor Advisor) Firms.
In addition to family gifting, many individuals support giving to organizations that aim to help their communities. We highlight some strategies to make the most of your giving dollars.
You can consider putting excess cash into a money market fund, short-term U.S. Treasury bonds, or a short-term bond mutual fund / ETF.
The future of the housing market is uncertain, and its resilience will be a crucial factor in the broader economic landscape.
The SJS Q3 2023 Outlook includes our insights on gifting and charitable contributions as well as U.S. real estate. We also look forward to Q4 2023.
SJS Investment Services has been recognized in CNBC’s 2023 FA 100 list, an annual ranking of registered investment advisory (RIA) firms within the United States.
International Samaritan is a 501(c)(3) nonprofit organization that is working to break the chains of poverty and improving lives, particularly within garbage dump communities worldwide.
SJS has been recognized in Financial Advisor Magazine’s 2023 Registered Investment Advisor (RIA) Ranking, an annual ranking of independent investment advisory firms within the United States.
The SJS Mission is to empower you to build a better life. That extends to our teammates, clients, and community members.
The SJS Q2 2023 Outlook includes our insights on building up our local communities as well as market performance so far in 2023. We also share even more members of the SJS family and look forward to Q3 2023.
It’s important to recognize how difficult it is to predict what will happen in the short-term for investment markets, and how much margin for error there should be for any prediction.