“I paid myself $0 for the first 3 years of my business” - this is NOT the flex you think it is. Here’s what it’s really telling the world.
I’ve seen a wave of these posts recently, anecdotally all by men who’ve either “made it” from a different business or who have no financial responsibility other than the skin on their own back.
By posting this, they choose to celebrate hustle over success ; a glorification of sacrifice and scarcity in a reality of abundance.
What it’s really telling the world, outside of their echo chamber:
1. You cannot start a business unless you are financially secure or have no financial responsibility. This is untrue and deeply unhelpful.
2. If you are a parent - a dad or, god forbid, a mom - with no financial security, you cannot start a successful business.
3. Survivorship bias. Working 3 years without paying yourself is not a stepping stone to guaranteed success. In fact it could hide systemic issues with the business, causing the founder to overlook signs that it’s time to move on to another idea.
4. Profit can only come at massive scale. This is untrue and unhelpful. We are the living proof of it at Oshun. Profit needs to come first, it should be rooted into the architecture of a business from the ground up, and it should be celebrated even at the smallest level.
Any entrepreneur with a successful business should be proud of what they’ve achieved. But when you read these posts, please be aware of the author's position of bias and potential privilege. So many people are sitting on fantastic ideas but lack the courage to make the first move. This type of discourse is deeply unhelpful to these would-be entrepreneurs.
Personally, I choose to celebrate positivity and opportunity over the faux-glamourification of sacrifice. I’d rather glorify the pursuit of profit, time and location freedom.
In doing so, we see a more positive way of building businesses, one that aligns with a happy life. We call it the JAW studios way.