From High Salary to Zero Income: My Entrepreneurial Journey

After resigning from a high-paying job and facing a complete loss of income, I embarked on a solo entrepreneurial journey. It took me 11 months to restore my income to 40% of what I earned as an employee. My goal is to surpass my previous salary within the next nine months by running a cross-border e-commerce business. Having achieved some initial success, I've realized that the risks associated with traditional employment are often higher than perceived.

The Perils of Traditional Employment

I've worked in various types of companies, from large corporations to start-ups, and they all carry inherent, often underestimated risks. If you can pursue something you're skilled at or passionate about while managing risks effectively, the returns can be higher and the risks lower than working for someone else. This path also offers a greater chance of achieving a fulfilling and independent life. * Company Instability: Companies, regardless of size, can face unexpected downturns, leading to layoffs or restructuring. * Technological Disruption: Rapid technological advancements can render certain skills obsolete, leaving employees vulnerable. * Limited Control: Employees often lack control over their work environment, career trajectory, and income potential.

Embracing a "Light Entrepreneurship" Approach

I believe in the concept of "light entrepreneurship," where you leverage your skills and passions, manage risks conservatively, and avoid excessive debt. With patience and persistence, success is highly probable.

The Freedom of Entrepreneurship

Many people work to cover household expenses and accumulate limited vacation time. However, I've discovered that entrepreneurship provides the freedom and mental space to build assets that generate continuous cash flow, ultimately creating wealth and achieving an ideal lifestyle for myself and my family.

Addressing the Fear of Entrepreneurial Risk

Many view entrepreneurship as risky, citing examples of failed ventures. While failures exist, there are numerous ways to start small and mitigate risks, like beginning as a side hustle instead of quitting job immediately. When I was still employed, I helped my mom create social media content and generate income as a middle-aged internet star. It took us about five years and a total revenue of over US$70,000.

Starting Small and Minimizing Costs

You can start a business without emptying your savings or relying on family funds. My YouTube channel, along with my mother's social media efforts, required zero initial investment. Even my relatively capital-intensive cross-border e-commerce business, which involves creating my own brand, designing products, and using slower, more cost-effective shipping methods like sea and rail, only required around US$10,000 to US$15,000 in initial investment. Save some money and don't waste it on unnecessary expenses.

Transparency and Sharing Lessons Learned

Once I reach 1,000 subscribers, I plan to share the details of my financial investments and the lessons I've learned along the way.

The Upside of Controlled Risk

While entrepreneurship appears risky, managing risk and costs effectively creates a safety net that exceeds the security of traditional employment. It's not just about financial gain; it's about the quality of your work, life, and overall well-being.

Defining Success Beyond Monetary Value

The "score" of success includes factors like whether you find value in your work, whether it provides a sense of accomplishment, and whether it drains your energy or invigorates you. It's also about the freedom to choose when and how to work, to prioritize personal and family needs, and to decline unwanted obligations.

Achieving Freedom and Fulfillment

For me, waking up and going to the gym, working in the afternoon, earning a living, and having the potential for future growth is more fulfilling than a traditional job.

A Look Back at My Career Path

I began my career at Ernst & Young in Texas, a major international accounting firm. I returned to Shanghai and joined a successful unicorn start-up, focusing on fundraising and IPOs, reaching a peak valuation of over US$6 billion. Later, I worked as a CFO in a small start-up. Before going solo, I briefly worked on a start-up project for three weeks before starting my own cross-border e-commerce business.

The Illusion of Stability in Large Corporations

According to traditional standards, my career progression has been unconventional. While large companies offer short-term stability, they also face numerous long-term risks. Achieving long-term stability and retirement in a single company requires significant luck, as internal and external factors can trigger layoffs and restructuring.

The Threat of Technological Advancements

Technological advancements and societal shifts are impacting a growing number of workers. Skills that were once in demand may become obsolete. Automation and AI are replacing workers across various industries, posing a threat to both blue-collar and white-collar jobs.

Leveraging Technology as an Entrepreneur

Entrepreneurs can harness these technological advancements to their advantage. For example, I use ChatGPT, costing only $20 a month, to handle sales, marketing, and customer service tasks that would otherwise require hiring a dedicated employee. This reduces my operational costs.

AI Voice Overs

Previously, I hired professional voice actors for English voice overs in my promotional videos, but I switched to AI voices, costing $150 a year for all my videos.

The Advantages of Entrepreneurship

Compared to working for a large corporation, entrepreneurship allows you to utilize the latest technologies and business innovations to your advantage, without the fear of being laid off or replaced.

The Benefits of a Controlled and Scalable Business

By running my own e-commerce business with a modest investment and controlled risk, I can leverage established supply chains, international logistics, and AI tools for sustainable growth. This model offers the potential for exponential upside without the risk of layoffs.

Balancing Risk and Reward

Resigning from a job and starting a business from scratch appears risky in the short term, but the long-term rewards are potentially significant. I believe that it's becoming increasingly difficult to maintain a stable, long-term career in a large corporation. The demands of constantly learning and competing, along with the potential for unforeseen events like pay cuts and layoffs, make traditional employment less appealing.

Creating Your Own Path

Since excelling at a regular job is increasingly difficult, why not work hard for yourself? Building your own sustainable business and assets provides benefits for the long-term. Sacrificing for a job only provides benefits in the next six months to a year. The risk, effort and reward are not as good as what it appears to be.

Reflections on Start-ups

Start-ups are known for high risk, however high return. Small start-ups are too risky, but larger ones with C- or D-round financing or pre-IPO financing are more stable. But many of these start-ups rely on financing. As an employee, you won't earn much more than you would at a regular company, but the job security is worse.

Pitfalls in Start-ups

Large start-ups lack proper systems or have systems that don't work. Moreover, these companies lack oversight. Money is spent recklessly. There are even power struggles more brutal than those in large companies, and this environment can lead to corruption. I know managers who have been arrested. The money is too tempting because it's so easy to get. But it's too risky.

Founders' Influence

The success of a start-up is 90% dependent on the founder. It's dependent on his or her skills, resources, character and ability to maintain long-term vision. The standards are too high. Start-ups have a high failure rate because so much is dependent on the founders. Therefore, I'd rather bet on myself. I know and love my golf e-commerce business. I am careful with my money. No one is corrupt or lazy. It may not be successful, but it won't be too bad.

Living Authentically

I want a fulfilling life, instead of a ordinary one. I want a more fun and authentic lifestyle. I am doing well, happy, and able to support my family. I am eating well and sleeping well.