Remove the Training Wheels and GO

When I was about 5 years old, a friend of mine came over to my house with his bicycle and I noticed there was something different with his bike compared to mine - he didn’t have any training wheels!
There was no way I would let my friend be the only one riding around without training wheels. I went in the garage and removed the training wheels myself. Then, with my friend’s encouragement, I rode the bike out of the garage. My first ride was bumpy but I soon got the hang of things.

My dad was pretty proud of me that day. Needless to say that he was expecting to be more involved in that process.

If it wasn't for my friend, I probably would of rode my bike with training wheels for a few more months before mustering up the courage to ride without them.
Sometimes, the best, and quickest, way of learning something is to remove the training wheels and just go. Sure, you might fail the first few tries but you'll get the hang of things. If you're fortunate enough to have a mentor encourage and walk you through the process - that's even better. Let's face it though, we do not often come across mentors for every single things we want to accomplish or learn.

Recession?

Historically, we’ve had a market correction (A.K.A Recession) every 10 years or so with the last one being in 2008. We’re overdue for one - so where is it?

One of the problem with recession prediction is that there’s a new one made every year. This suggest that while it is possible to identify patterns with the economy, predicting its future with any sort of certainty is a little bit like trying to predict the weather - anything can change at a moment's notice. What is true today is not necessarily true tomorrow.
Our economy is global and every single person is contributing to it. There are markets created and dying every day.

There are, however, signs that may suggest that a recession is at our doorsteps. Those are:

• We're over due for one - The economy isn't perfect because those that affect it are not perfect. Historically, there's been one every 10 years or so and it's been 11 years since our last big one in 2008. We're overdue for a correction - this is not only to be expected but a natural process of this imperfect economy.
• America’s Tarifs - The tarifs are creating uncertainty throughout the world.
• House Sales are down - The cause of the last recession was largely due to the housing markets. There are signs that it's heading in the same direction as it did in 2008.
• The unemployment rate is at a all time low - How can this possibility signal that a recession is coming? There's always a calm before the storm. The employment rate is about the same as they were in the 2008's recession.
• Global Warming - What does the actual weather have to do with the economy? Businesses can't run when everything around it is either burning, flooding or getting destroyed by strong wind. For the economy to run, you need people at work and buy things.
• Going Out of Business - Big companies, such as Toys R Us, Sears, Payless Shoes... have closed down their doors in the last few years.

While no 2 recessions are alike, you do not need to be an economist to be able to identify patterns.
A recession is not always a bad thing either, there are a lot of money moving around during those times and some of that can land in your pockets if you know what you're doing.

Society's Pressure on Kids

A few years back, I had bought a Disney princess painting kit for my friend’s 4 year old daughter. When I gave it to her, we took the paint out and started using it on the picture of the princesses. The mom soon interjected and was criticizing her daughter's painting and giving tips - telling her that she should be painting within the lines and such.

I was shocked. What I saw was society telling a little girl how to be creative. Let me tell you something, kids don’t need anyone to tell them how to create. It comes instinctively for them. Give them something and they’ll make something else out of it. Art is not about coloring within some predefined lines, it’s about making your own rules.

This is, of course, only one area where society pushes its preconceived notions on the next generation.

Sure, there are important principles to follow for some disciplines in order to achieve anything worthwhile. If we think about fitness goals, for example, we know that we must follow a specific set of rules in order to attain a specific set of results. If we don’t, then who knows where we’ll end up.

Don’t touch the arts though. Let kids do what the heck they want with the pen and paper. Maybe the only rule they should have is not to draw on the walls?

Stop and Think

Most people out there will tell you to work, save up for retirement, buy insurances and live frugally. All good advice but have we ever stopped to think whether or not we want the same kind of results than the persons give us the suggestions?

The above suggestions are good for those looking to have a career their entire life but it's inadequate for the entrepreneurs at heart. The above promises a somewhat safe path to retirement but really what's the point? We'll die whether or not we work for ourselves or have a career. We can't carry anything with us in the afterlife. The act of living has it's fair share of risks attached to it.

So if you are an entrepreneur, don't be surprised that the rules may be different for you. You may not be looking at living frugally as much or thinking about retirement the same way someone with a career would. That's not only okay but also expected. The rules are different for you.