live your startup dream without quitting your day job — patrick mcginnis

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This presentation consists of highlights from the interview with Moe Abdou,

founder & host of 33voices®.

PATRICK J. McGINNIS is a venture capitalist and private equity investor who founded Dirigo Advisors, after a decade on Wall Street, to provide strategic advice to investors, entrepreneurs, and fast-growing businesses. As a 10%

Entrepreneur, he has built a diverse portfolio of investments in new ventures in the United States, Latin America, Europe, and Asia. A graduate of Harvard Business School and Georgetown University, he writes for Business Insider, Huffington Post, Boston Magazine, and Forbes. He lives in New York City.

Patrick McGinnis@pjmcginnis

Founder of Dirigo Advisors

Entrepreneurship isn’t for everyone; it’s as grueling as it is rewarding; so before quitting

your day job, try being a 10% Entrepreneur first:

Insight #1

Entrepreneurship isn’t for everyone; it’s as grueling as it is rewarding; so before quitting

your day job, try being a 10% Entrepreneur first:Commit at least 10% of your time, and, if

possible, 10% of your capital into new investments and opportunities.

Insight #1

Entrepreneurship isn’t for everyone; it’s as grueling as it is rewarding; so before quitting

your day job, try being a 10% Entrepreneur first:Leverage your network to identify potential

opportunities that align with your skill set and experiences.

Insight #1

Insight #2

Here are the Five ways you can become a 10% Entrepreneur:

Insight #2

Here are the Five ways you can become a 10% Entrepreneur:

Become an Angel investor by investing in early-stage companies

Insight #2

Here are the Five ways you can become a 10% Entrepreneur:

Become an Advisor to evolving companies by aligning your expertise with their needs

Insight #2

Here are the Five ways you can become a 10% Entrepreneur:

Become a Founder and start your own business

Insight #2

Here are the Five ways you can become a 10% Entrepreneur:

Become an Aficionado and channel meaningful time & energy either as an Angel, an Advisor, or a Founder

into activities that you truly love

Insight #2

Here are the Five ways you can become a 10% Entrepreneur:Become a 110% Entrepreneur by committing 10% of your time and money to other entrepreneurial

ventures in addition to your own.

Insight #3

Before you commit to investing in your first venture, consider these questions:

Insight #3

Before you commit to investing in your first venture, consider these questions:

Do you understand the business you’re about to invest in?

Insight #3

Before you commit to investing in your first venture, consider these questions:Do you feel strongly about the relationship you have with the founder and her team?

Insight #3

Before you commit to investing in your first venture, consider these questions:

Do you feel that you can add significant value to the company?

Insight #4

Observe today’s most admired entrepreneurs and you’ll recognize that they

didn’t do it for the wealth or status; rather they became entrepreneurs because it chose them.

Insight #5

The one certainty that entrepreneurship will promise you is Failure; and despite the character & resilience that it builds,

it still SUCKS. Make each episode of failure more productive by:

Insight #5

The one certainty that entrepreneurship will promise you is Failure; and despite the character & resilience that it builds,

it still SUCKS. Make each episode of failure more productive by:

Committing time to step back and reflect

Insight #5

The one certainty that entrepreneurship will promise you is Failure; and despite the character & resilience that it builds,

it still SUCKS. Make each episode of failure more productive by:

Seek out those who do well what you do poorly; and

Insight #5

The one certainty that entrepreneurship will promise you is Failure; and despite the character & resilience that it builds,

it still SUCKS. Make each episode of failure more productive by:Be humble and ask for help

Insight #6

If you’re an entrepreneur building your advisory board, it’s wise to focus

less on the individual, and more on the time, attention, and expertise that he/she

can bring to your business.

Insight #7

If you’re an advisor aligning your role with a startup - make it a priority

to crystalize the expectations for both sides upfront. You’re likely to play a role in:

Insight #7

If you’re an advisor aligning your role with a startup - make it a priority

to crystalize the expectations for both sides upfront. You’re likely to play a role in:

Helping position the company to raise additional capital

Insight #7

If you’re an advisor aligning your role with a startup - make it a priority

to crystalize the expectations for both sides upfront. You’re likely to play a role in:

Making introductions topotential investors; and

Insight #7

If you’re an advisor aligning your role with a startup - make it a priority

to crystalize the expectations for both sides upfront. You’re likely to play a role in:

Helping them think through who they need to know to accelerate their success

Insight #8

Calling all Angels: If you’re anxious to invest and don’t live in an entrepreneurial

hub, here are a few things to consider:

Insight #8

Calling all Angels: If you’re anxious to invest and don’t live in an entrepreneurial

hub, here are a few things to consider:Locate the incubators in your community

Insight #8

Calling all Angels: If you’re anxious to invest and don’t live in an entrepreneurial

hub, here are a few things to consider:Identify the entrepreneurial clubs

in colleges and/or universities

Insight #8

Calling all Angels: If you’re anxious to invest and don’t live in an entrepreneurial

hub, here are a few things to consider:Get familiar with Angel List

Insight #9

When you’re convinced that the 10% approach to entrepreneurship is for

you, be diligent about these seven principles:

Insight #9

When you’re convinced that the 10% approach to entrepreneurship is for

you, be diligent about these seven principles:Always act with integrity; especially when it

comes to your current employer

Insight #9

When you’re convinced that the 10% approach to entrepreneurship is for

you, be diligent about these seven principles:Stick to your knitting by playing

to your strengths

Insight #9

When you’re convinced that the 10% approach to entrepreneurship is for

you, be diligent about these seven principles:Look for ways to break out of your comfort zone; regularly.

Insight #9

When you’re convinced that the 10% approach to entrepreneurship is for

you, be diligent about these seven principles:Take charge of your education by

becoming more well-rounded

Insight #9

When you’re convinced that the 10% approach to entrepreneurship is for

you, be diligent about these seven principles:Spread the wealth

Insight #9

When you’re convinced that the 10% approach to entrepreneurship is for

you, be diligent about these seven principles:Build a network of people who

bring out the best in you

Insight #9

When you’re convinced that the 10% approach to entrepreneurship is for

you, be diligent about these seven principles:Always live the golden rule

Insight #10

Above all, nothing is possible without a healthy state of mind. Drink a kale

smoothie as often as you can!!!

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