Being broke as an entrepreneur is not a rite of passage

Take a risk they say. Open up a business. Quit your job without a backup plan to pursue your dreams. Don’t let life hold you back from doing what you want.
Did these internet gurus forget we still have to live?

Without income, how can we buy groceries, pay our rent or mortgage, pay our car note, keep the lights on??? What foolishness do they have us doing out here in 2026?!!

Let’s not pretend that economic anxiety is not at an all-time high. Pretty much everything is more expensive and we are not making more money so money is tight. Being made to feel guilty or ashamed because you are not jumping feet first into a business without a backup plan is ludicrous! We can’t sustain living in America without a steady income and the options for business grants, especially for people of color, has dried up. Yes, you can find an investor but most of us simply don’t have those types of connections or run in the circles where we have access to people that are wealthy. And taking out a business loan? Good luck getting approved and even if this was a viable option, who wants more debt?!! Especially if you don’t know if you will be able to pay it back because your business may not start making money right away.

So, as an aspiring business owner, what other choice do you have? Here’s one to consider; keep your day job and ease into starting a business. Learn the ropes from someone in your industry that is more seasoned than you and test out the ideas they give you while still keeping your main income. Stop allowing others to influence you into making risky decisions that only YOU have to experience the consequences for. Be wise and choose to make a different decision. Who knows what allowances those gurus had when they started their business that you don’t have? They don’t know your individual situation so don’t allow them to influence you in making a decision that is not right for you!

Being broke as an entrepreneur is not a rite of passage. Inheriting risky business practices that leave you financially destitute to flex as a business owner is not ideal. It might take years to dig yourself out of that hole that you created when you dropped your day job and only had your business income to rely on. Economic times are tough, the market is more competitive and saturated, and there is no guarantee that your business will thrive. But there is a guarantee that you will get your paycheck every two weeks. So, keep your day job while you open that business and use a portion of that income from your job to support your business. Consider your employer to be your silent business partner.

And if you need a guru to help you grow and scale your business while you are an employee, consider the Wite Collar app. We have experienced, smart, and successful business owners who want to help someone like you get where they are. You can connect with them through our mentor marketplace here:
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Apple Appstore:

https://apps.apple.com/us/app/wite-collar/id6450702409

Google Playstore:

https://play.google.com/store/apps/details?id=com.witecollar
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See you soon!